Prifender was just recognized as one of ten private companies with great potential in 2017, in Momentum Partners’ Cyber Security Market Review for Q2 2017. Prifender is the only privacy technology company noted in this high-profile watch list.
Momentum Partners is a global cybersecurity-focused investment bank. Each quarter Momentum features 10 companies from the 2,200+ they track and profile them in their Quarterly Market Review in order to raise their network’s awareness to these stand out companies.
In its first review of technologies for addressing the challenge posed by the European Union (EU) General Data Protection Rule (GDPR), Momentum noted that “companies must be able to automatically discover and map all personal information across networks (structured and unstructured) and apply policies to the information.” With consideration of the various solutions that currently exist in the cybersecurity space, Momentum added that “existing technology stacks alone cannot meet the mandates handed down by GDPR.” Artificial intelligence, machine learning, automation and big data expertise, all foundational elements of Prifender’s technology, were identified in the report to be the “key capabilities and requirements of GDPR platforms.”
The GDPR is a privacy regulation that applies to the personal information of EU residents, wherever that data may be processed. The regulation has been receiving a great degree of attention from executives and boards-of-directors due to its high fines (up to 4% of a company’s global revenue) and its comprehensive breach notification requirements. The GDPR comes into force in May 25, 2018.
“We are thrilled to see such a large player in the cybersecurity field recognize the benefits in our technology. Our R&D investments focused on combining AI, forensics and big data with the conviction that this type of solution offers the most efficient path to privacy management. The recognition by Momentum that we are on the right path for helping companies with the GDPR challenge provides us with a great boost of confidence, and matches the positive reactions we are receiving from the market” said Nimrod Luria, Prifender’s CEO. Dr. Sagi Leizerov, Prifender’s Chief Data Solutions Officer underscored these statements and added that “personal information is a data asset that requires a granular level of tracking – the identity level. Any solution that cannot scale to manage many millions of identities across thousands of systems, cannot help companies address privacy requirements. A well-managed data asset allows companies to monetize and extract value from it without the risk of severe fines and alienating customers; this is the ultimate goal of our technology.”
To read the full report click HERE.