Velotix, a data security platform that governs, logs, and controls compliant access to data throughout the data access lifecycle, has closed its seed round on $10m.
Capri Ventures served as the lead investor.
This capital will enable Velotix to further its product development, scale its organisation and expand its offering globally. This will further its mission of maximising business value by removing unnecessary silos and making data attainable, while minimising security risks.
Velotix has come out of stealth, following the development of its AI-powered platform.
The data security company is designed to help companies that struggle to be privacy-driven to streamline secure access to data by automatically managing their policies.
It is powered by an AI-driven policy engine and continuously creates, updates and maintains organisational data protection policies based on exceptions, regulations, and user behaviour.
Velotix advisory board member David Reilly said, “Unlocking the power of your company’s data to better serve your clients is a challenge every Enterprise IT team faces. Providing the right people with the right access to the right data at the right time is the goal.
“However, this must be done in a way that both provides that secure access and does so guided by the data access policies and controls that your company operates under – and those policies can change rapidly based on the jurisdictions where you operate. Automated policy management and implementation is the path to achieve this, and that is where Velotix delivers.”
It is focused on the financial, insurance and healthcare markets, and partners with global cloud providers, including Google, Amazon and Microsoft Azure and leading BI tools.
Capri Ventures has invested in another FinTech company this year. It recently joined the pre-Series B funding round of Indonesia-based ALAMI Group. The company offers Shariah-compliant P2P SME lending services.
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