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Mine secures $30m Series B Funding Co-Lead by PayPal Ventures

By Delisha Fernandes

December 11, 2023

  • AI Governance
  • B2B enterprise
  • Battery Ventures

Mine, Data Privacy, Series B, Funding, Battery Ventures, PayPal Ventures, B2B enterprise, AI Governance, Risk Assessment, Fintech news, Fintech US, MENAMine, a data privacy company, has raised $30 million in Series B funding, co-led by Battery Ventures and PayPal Ventures, with participation from new and existing investors.

Mine plans to use the investment to scale its B2B enterprise-grade product MineOS, which features an intuitive, no-code experience that seamlessly integrates with advanced AI technology.

This integration not only sets a new industry benchmark in automation and accuracy but also revolutionizes the data discovery process, making it more accessible and efficient for businesses of all sizes to automatically discern the apps and infrastructure they employ, identify personal data within these systems, and grant individuals control over their data usage.

Gal Ringel, co-founder and CEO of Mine, said, “We’ve engineered a completely differentiated customer experience that has proven itself in the marketplace. Our pragmatic approach, coupled with an unwavering emphasis on ease of use, has deeply resonated with our users. This funding positions us to deliver an even more seamless and differentiated experience, ushering in a more efficient and streamlined approach to addressing data privacy concerns in the B2B market. This further solidifies our commitment to making the digital world safer and more transparent.”

Mine prioritizes the customer experience, including a streamlined and continuous data discovery, inventory and classification system, unveiling near total coverage of any type of data, structured or unstructured, cloud or on-premise utilized by the company, complemented by the most comprehensive cloud scan to identify all assets.

“The rapid growth in popularity of Generative AI has underscored the critical importance of data privacy and makes this an exciting time to invest in Mine,” said Alan Du, Partner at PayPal Ventures. “It has never been more important for organizations to address the privacy concerns of their customers, understand relevant and emerging laws, and teach their employees how to handle personal data responsibly. “

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