Israeli cyber company OneTouch completed its first $ 14 million round of funding

Israeli cyber company OneTouch (Wednesday) announced Wednesday that it has completed its first $ 14 million round of funding, led by the Jerusalem JVP funds and the investment arm of National Grid Partners - a round that closed during the Corona crisis. The company has developed a system that allows companies to map the information that they have accumulated on people, and helps them comply with strict privacy regulations.
In recent years, with awareness of companies' ability to collect large amounts of information about people, the regulation related to privacy has been tightened. The most significant regulation in the EU was led, which in May 2018 applied the strict GDPR regulations, reserved for companies to secure the personal information they hold in the databases, and manage it so that anyone can access, see and even change their information. Similar regulations exist in Israel, California, and other countries around the world.
The fact that companies are constantly storing a lot of information makes it difficult for them to manage, which has become cumbersome, and they find it difficult to connect all the information that is distributed among different units in the organization. The artificial intelligence system developed by VanTouch (1touch), as mentioned, maps for organizations all the information they have in their databases, helping them to manage and secure it - while complying with the various privacy regulations. The system creates a master catalog containing all the sensitive information that the organization collects, and maps all the places where a copy of the information is processed and stored.
Previous investors in the company also joined previous investors in Mindset Ventures, the investment arm of Connecticut Innovations and Ocean Azul Partners. The company's lime raising was conducted in 2017, and the current round brings the company's total borrowing to $ 15.5 million. The capital raised by the company will be used to expand its research and development team, which sits largely in Israel, as well as to expand its marketing and sales team, to accelerate growth in the US and Europe.
VanTouch's system knows how to read all kinds of files available in the organization - from image files, PDF or Word documents, cloud apps like SailorsForce, and more. "The amount of information collected today about people is huge - gathering every bit of information, sexuality and medical information, to political views and buying habits," said Asraf. "The regulation requires the organization to allow every person direct access to their information, and we provide a tool that enables the information security officer to control and manage the information. It's also a decision-making tool. Of that organization, and in a readable format. "