Private AI, a Toronto, Canada-based provider of a solution to identify, remove, and replace personal data, raised USD$8M in Series A funding.
BDC Capital led the round, with participation from new investors GIT1K, and Panda Angel Partners, and existing investors Microsoft’s Venture Fund (M12), Differential Ventures, Forum Ventures, Shasta Ventures, and Parliament Angels made up of a group of early Twilio employees.
The company intends to use the funds to further expand its activities in Europe and across new industry sectors, and invest in product enhancements, developing a new self-service platform and enabling the detection of Personally Identifiable Information “PII” within documents (like pdf and docx) along with generating risk profiles.
Led by CEO Patricia Thaine, and CTO Pieter Luitjens, Private AI provides Machine Learning models to find, redact, and generate synthetic Personally Identifiable Information (PII) within semi- and unstructured datasets. It uses AI to detect, redact and replace over 50 types of PII in over 47 languages. The solution is deployed within the customers’ own environment, meaning their data never has to be transferred to a third-party data processor. The product covers data protection regulations such as GDPR, CPRA, and HIPAA.
FinSMEs
17/11/2022