WCKD RZR, a new startup positioned at eradicating the myriad of international data privacy, management and cost issues for multi-national businesses, has scored $1.2m from angel investors.
With this capital, the RegTech company is eyeing staff hires.
WCKD RZR was founded by former HSBC chief administration officer Chuck Teixeira. The idea for the company came after Teixeira noticed there was no automation tool that let a multi-national bank leverage machine learning to catalogue cloud-based data, while ensuring all regulatory requirements and access controls were met.
Businesses have a raft of challenges from conflicting data governance policies and authorisation controls in different locations and jurisdictions, it said. If a company wishes to fix its messy data estate by switching to a single cloud or database management system, it costs a lot of money. Furthermore, data is often not labelled or cannot be found or is subjected to different regulations.
Based in London, WCKD RZR was created to solve this. Its Data Watchdog unlocks the potential of a multi-national corporation’s data by allowing them to find, govern and access their data in each country, real-time, fully compliant with relevant data sharing, privacy and governance rules.
Teixeira said, “Our mission is to enable large organisations to access all their data around the world wherever and whenever they want, fully compliant with the mountains of conflicting global rules.
“WCKD RZR’s Data Watchdog software is true data enablement. It allows multi-national organisations that have disparate and messy data estates to unlock the potential of their data immediately, without having to wait for large, expensive data transformation programs that cost them tens of millions of dollars and many years.”
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