Mine, a trailblazing company in the realm of data privacy, announced today the closure of a significant $30 million Series B funding round.
This major financial boost, co-led by Battery Ventures and PayPal Ventures, also saw substantial contributions from Nationwide Ventures. Existing investors including Saban Ventures, Gradient Ventures (Google’s AI), MassMutual Ventures, and Headline Ventures also participated.
The company’s latest funding influx will fuel the expansion of MineOS, their flagship B2B enterprise-grade product. MineOS stands out for its no-code, user-friendly interface, which integrates advanced AI technology. This combination has set new industry benchmarks in automation and accuracy, revolutionising the data discovery process. Mine’s diverse customer base, including big names like Reddit, HelloFresh SE, FIFA, and Data.ai, underscores the versatility and effectiveness of MineOS.
Mine plans to use the new funds to enhance MineOS’s capabilities. The platform provides a comprehensive suite of data privacy and governance tools, including AI Risk Assessments, Shadow IT Management, Compliance, and Privacy requirements handling. With its customer-centric design, MineOS aims to be the definitive solution for Data Lifecycle Management, catering to over 2,000 customers globally.
“Unlike other solutions that merely report data findings, MineOS enables us to automate assessments and fulfill regulatory obligations, transforming our approach to data privacy and governance,” Jutta Williams, Head of Privacy & Assurance at Reddit, commended the platform’s capabilities.
Mine addresses critical issues in data privacy and governance, aiming to simplify and streamline processes for companies grappling with complex data regulations and increasing demand for transparency. The company’s solutions are particularly relevant in the face of surging state-level data regulations and the explosion of data generation and management.
“We have been steadfast supporters of Mine from the very beginning, and we are thrilled to be part of this pivotal moment in the evolution of data privacy solutions for enterprises,” said Scott Tobin, Senior Partner at Battery Ventures, expressing his confidence in Mine’s innovative approach.
Alan Du, Partner at PayPal Ventures, also shared his enthusiasm, highlighting the growing importance of data privacy in the age of Generative AI: “With Mine, enterprises of all sizes can compliantly harness the power of Generative AI and safeguard the privacy and data of their customers.”
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