Economy
Israeli MIND completed Series B of $72 million for preventing data leaks in organizations
The company has developed a platform that puts data loss prevention and insider risk management programs on autopilot.
· Globes. Photo as published in article
Israeli company MIND, which develops an AI-based platform for preventing data leaks, completed a Series B funding round of $72 million led by Crosspoint Capital Partners.
Israeli company MIND completed a Series B funding round of $72 million, according to a valuation of $300 million. According to the report, the company's total fundraising now reaches $112 million.
The round was led by Crosspoint Capital Partners, with participation from existing investors Paladin Capital Group and YL Ventures. The company was founded in 2023 by CEO Eran Barac, CTO Itay Schwartz and VP Research & Development Hod Ben-Nun.
MIND developed an AI-based platform that automates data loss prevention (DLP) and insider risk management in organizations. The company's headquarters is in Seattle, development is conducted in Israel, and it employs 70 employees: 40 in Israel and 30 in the United States. According to the report, the company's annual recurring revenue reached eight figures.
According to Barac, the DLP market is huge and established but was not built for the AI era, and AI amplifies the challenge. According to him, the fundraising will enable accelerating growth and bringing the platform to every organization seeking to adopt AI while protecting sensitive information. Barac previously founded Hexadite, which was acquired by Microsoft in 2017 for $100 million.
