Redactable, an AI-driven web application designed for redacting sensitive documents, has successfully secured $5.5 million in seed funding.
This significant financial boost was led by Gradient Ventures, Google’s AI-focused venture fund, with contributions from Wocstar Fund, earlier pre-seed investors, and several influential angel investors.
The company’s innovative AI-driven platform specialises in detecting and permanently redacting sensitive information in documents, offering a reliable solution for companies.
This round of funding arrives over a year after Redactable’s initial $1.3m pre-seed funding, supported by investors like Everywhere Ventures, Hustle Fund, Revelry, and Stony Lonesome Group. These investments kick-started the platform’s launch in July 2022.
In today’s digital age, where sensitive data sharing is common, Redactable’s solution is increasingly relevant. Traditional PDF editing tools and legacy software often fail to fully conceal confidential data, posing a risk of exposure. Redactable’s platform addresses this challenge by providing a secure and efficient redaction process.
The significance of Redactable’s technology is underscored by its recent $1.25m U.S. Air Force contract. This contract will utilise the company’s patented software to safeguard sensitive documents and streamline business processes within the Department of the Air Force (DAF).
Amanda Levay, Redactable’s founder and CEO, highlights the growing need for secure data sharing. “With so much confidential information being shared electronically, the risk of data vulnerability for both individuals and organizations is increasing exponentially. Too much time is spent using black markers or drawing boxes over sensitive data, which is not only inefficient but also ineffective.”
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