Suridata.ai Closes Seed Round led by the Israel Colorado Innovation Fund

1/26/2021 3:35:53 PM

(MENAFN- GlobeNewsWire - Nasdaq) Colorado, USA and Tel Aviv, Israel, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Suridata.ai, an Israeli-based company that developed a solution to protect the privacy of people by identifying the organization's sensitive data, announced today the closing of their Seed Round led by Israel - Colorado Innovation Fund . The round was joined by Sapir Ventures, private investors, and a US-based family office. Suridata's solution gives organizations visibility and control over their sensitive data in structured and unstructured forms in order to protect all data.

'Suridata brings an innovative approach to the data protection methodology,' said Gili Elkin, General Partner of the Israel - Colorado Innovation Fund. 'Suridata's solution is a novel application of Natural Language Processing (NLP) technology and provides a robust method for classifying data, based on content as well as context.'

'With Israel – Colorado Innovation Fund as our partner, we look forward to our fast growth in the US market,' said Lee Kappon, CEO of Suridata.

Through the use of NLP, the solution discovers sensitive data in connected data sources according to content and context of the data. Users of this technology are able to accurately understand the location of their sensitive data, take proper security measures to protect the data, and avoid data leakage. With the long-term trend towards increased volume of data, Suridata.ai is well positioned to assist organizations during this period of growth.

Innosphere Ventures is a General Partner in the Israel - Colorado Innovation Fund and has worked closely with international companies supporting them with customized growth packages. This assistance is focused on areas necessary to commercialize the product or service in the United States. 'Suridata's solution will bring value to organizations in the finance, insurance and healthcare industries among others, and we are already seeing a strong interest by our corporate partners in deploying Suridata's solution,' said Tim Jones, General Partner at Israel – Colorado Innovation Fund.

Suridata.ai uses artificial intelligence that allows its solution to continuously improve at identifying sensitive data while it moves throughout the organization in different communication platforms as well as data storage locations. It overcomes the challenges associated with more deterministic rules and pattern-based discovery.

Attachments

Tim Jones Israel – Colorado Innovation Fund (ICI Fund) +1970.221.1301 Lee Kappon, CEO Suridata +972054.588.8826

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