Data discovery, privacy and security provider 1touch.io has secured $14 million in Series A funding, which will help it boost R&D and field presence.
Founded in 2017, the Stamford, Connecticut-based startup continuously analyzes traffic and repository stores connected to an organization’s network, to help them identify all network elements storing, processing, and sharing personal data, both internally and externally.
The company’s solution automatically identifies repositories that contain sensitive data (such as personally identifiable information (PII), protected health information (PHI), and payment card data), as well as processes that access, replicate, move and update such data repositories.
With this view of how sensitive information is used, organizations can improve the security of data and ensure compliance with GDPR, CCPA, PCI, HIPAA, and other regulations, 1touch.io claims.
Inventa, 1touch.io’s flagship solution, relies on network analytics, machine learning, and artificial intelligence to automate the discovery and classification of a company’s customer data in near real-time, while also aiming to reduce operational overhead, to lower time consumption and costs.
The funding round was led by National Grid Partners (NGP) and Jerusalem Venture Partners (JVP), but saw contribution from other investors as well, including Connecticut Innovations, Mindset Ventures, and Ocean Azul Partners.
“To achieve greater customer value, we will be investing in more people to deliver it in all parts of the organization. From RD to customer success, to field sales, operations, and marketing, our ambition is to continue educating the market about our second generation of Privacy Technology that tells the customer everything they need to know with unparalleled accuracy and operational ease,” Zak Rubinstein, 1touch.io CEO and founder, said.