Shield announces $15 million Series A for AI communications compliance platform
The Israeli startup has developed a platform that helps enterprises and financial institutions manage and mitigate communications compliance risks
Israeli company Shield, which has developed a workplace intelligence platform for compliance teams, announced on Thursday that it has closed a $15 million Series A funding round led by Macquarie Capital and OurCrowd with significant participation from Mindset Ventures. Shield had previously been bootstrapped since its launch in 2018, growing organically with sales reaching tens of millions of shekels.
Shield enables regulated financial institutions to detect market abuse, gain behavioral analysis, mitigate toxic workplace culture and ultimately automate surveillance over all employee communication channels. The company’s cloud native solution automatically captures, archives and provides surveillance over the communication channels that have become especially relied upon as remote and hybrid work environments become more permanent. Shield offers a tailored platform that applies advanced Artificial Intelligence and Natural Language Processing capabilities throughout the entire communications lifecycle.
“The ability to access and understand new and evolving communication channels is increasingly becoming a pain point for organizations, no matter the industry, and this funding round is well-timed as it will empower us to scale our technology and enhance our already robust platform that addresses compliance concerns that enterprises deal with daily,” said Shiran Weitzman, Co-Founder and CEO of Shield.
Shield was founded by Weitzman with CTO Ofir Shabtai, and they were joined by CBO Eran Noam. The company employs around 60 people and has offices in Ramat Gan, London and New York.