October 30, 2024 at 09:54PM
MIND launched a data loss prevention platform aimed at enhancing data visibility and preventing leaks by using AI for data classification and risk assessment. Founded in 2023, it raised $11 million in seed funding. The platform aims to secure sensitive data across various IT environments, including SaaS and GenAI applications.
### Meeting Notes Takeaways
1. **Data Growth and Challenges**:
– Organizations are facing an exponential increase in various types of data, including application data, logs, personal information, source code, customer info, business collateral, and credentials.
– There is a significant lack of visibility in IT environments which complicates data classification and protection against unauthorized access.
2. **MIND Launch**:
– MIND has launched a data loss prevention (DLP) platform aimed at enhancing visibility into data risks and preventing data leaks.
– The platform is capable of discovering and classifying sensitive data across multiple IT workloads, such as SaaS, GenAI applications, endpoints, on-premises systems, and emails.
3. **Technology Overview**:
– The DLP platform is described as “intelligent,” leveraging AI and smart automation to help customers identify, detect, and prevent potential data leaks.
– MIND AI incorporates hundreds of specialized algorithms and a unique AI engine for classifying and categorizing sensitive unstructured data, assessing risk severity based on contextual business views, and executing automated prevention and remediation strategies.
4. **Founding Team**:
– MIND was co-founded in 2023 by Eran Barak (formerly of Hexadite), Itai Schwartz (formerly at Torq and Axonius), and Hod Bin Noon (specialist in real-time vulnerability detection at Dazz).
5. **Funding Announcement**:
– MIND has successfully raised $11 million in seed funding, backed by YL Ventures and several individual investors.
This summary highlights the critical points from the meeting regarding data management challenges and the introduction of an innovative solution by MIND.