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Data protection is not something organizations can take lightly. With leading companies like Sephora, Meta and Google [subscription required] Having received millions in data protection fines over the past two months, it is clear that regulators can and will penalize non-compliance.
However, many organizations are still failing to meet their compliance obligations due to the complexity of identifying data due to its location in the environment. The good news is that this is a challenge many vendors are looking to address with artificial intelligence (AI).
Today, data privacy provider AI Securiti announced the release of a unified data control platform that acts as a centralized data control center, increasing data visibility across public clouds and private. The company also announced that it has raised over $70 million and launched DataControls Cloud.
Securiti’s solution identifies structured and unstructured data in the cloud using advanced AI techniques and automatically generates information about key systems and infrastructure to determine who owns a given piece of data.
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The central challenge of data protection: visibility
One of the main issues with managing data in a compliant manner is that many organizations have very limited transparency and control over it. As former Twitter CISO Peiter Zatko asserted, “they don’t know what data they have, where it is, or where it came from, so unsurprisingly, they can’t protect it.”
Whether or not these allegations against Twitter are true, the challenge of maintaining visibility into user data is something many organizations face. Using AI, Securiti DataControls Cloud allows companies to quickly identify data at risk in a multicloud environment, which they could not do with siled data protection solutions.
“There is a proliferation of data across hybrid and multicloud infrastructure silos. Companies therefore need to ensure data security, data privacy, data governance and compliance across all these cloud environments,” said Rehan Jalil, Founder and CEO of Securiti.
“Instead of looking at these things in silos (across clouds and across security/privacy/governance), Securiti DataControls Cloud empowers organizations to control unified data to meet all data security obligations. , data privacy, data governance and compliance, across all clouds, in one place,” said Jalil.
Data Protection Market Review
Securiti is in the data protection market, which researchers valued at $77.3 million in 2019, and they predict it will reach $257.5 million by 2027 as more and more companies seek to protect customer data from increased compliance responsibilities arising from regulations such as the CCPA and GDPR.
One of Securiti’s main competitors in the market is OneTrust, with its data privacy and governance cloud that offers AI-powered data discovery and classification to identify data at risk. OneTrust recently raised $210 million in a Series C funding round in 2021.
Another competitor is Immuta, with its data access platform, which raised $100 million in Series E funding in June this year. The organization’s solution can digitize, classify, and label data; implement attribute-based access control; track user activity with analytics; and verification.
Securiti’s main differentiator is that it is the first solution to have unified controls across all data silos. “Securiti DataControls Cloud is the first platform that allows organizations to manage all controls around data in one place autonomously, instead of solving for each silo in a disconnected way,” Jalil said.
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