Prifender, a pioneer of identity-aware technology, today announced that it has raised $5M in a seed round led by Firstime VC, with participation from Shaked Ventures and iAngels. The funding will be used to fuel global expansion and accelerate platform development, leveraging both AI and traditional techniques to optimize functionality.
Prifender is the first company to create a fully automated, enterprise-ready data privacy platform that discovers and maps personal information across all networks, delivering clear visibility and addressing one of the most significant challenges enterprises are facing today. Prifender’s platform offers self-service identity mapping with the ability to associate each identity with its relevant privacy obligations, enabling organizations to easily manage and demonstrate accountability and compliance.
Prifender’s team provides unrivalled experience in the privacy space, having managed some of the world’s largest data environments: Christopher Glover, CTO, previously headed PayPal and eBay’s data architecture; Pedro Pinheiro, Head of Data Privacy Architecture, was formerly Microsoft’s Europe’s cloud services lead and Dr. Sagi Leizerov, Prifender’s Chief Data Solutions Officer and Co-Founder, formerly Ernst & Young’s Head of Global Privacy Practice, brings a wealth of in-depth knowledge of how regulations such as the General Data Protection Regulation (GDPR) will fundamentally change the way companies operate.
“We’ve seen a substantial increase in inquiries over the last couple of months. Every day we hear from companies that are challenged with demonstrating accountability over the personal information they collect and process,” explains Nimrod Luria, CEO and Co-Founder, Prifender. “Our technology is already driving efficiency and providing peace of mind for leading global enterprises, with an easy-to-deploy, automated system that works at any scale, saving time and costs. This seed funding enables us to reach a wider market while laying the groundwork for further growth, alongside assigning resources to continue differentiating our offerings.”
“We are excited about our investment in Prifender,” said Jonathan Bernartzi, Managing Partner at Firstime VC. “The digital world is currently undergoing a revolution with anything concerning the collection and usage of personal information held by large corporations. Prifender’s solution enables companies to operate with the required corporate governance and to manage each user’s personal information with complete transparency and accessibility. The GDPR, alongside similar regulations worldwide, have created a significant regulatory momentum for the business of Prifender and we believe that its technology will become the industry standard for privacy compliance.”