Shield, an artificial intelligence (AI)-driven platform for compliance teams has closed a $15 million Series A funding round led by Macquarie Capital and OurCrowd, with significant participation from Mindset Ventures, the company announced Thursday.
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Shield will use the funding to expand its US presence with a New York City office, while further establishing itself in markets throughout Europe, the Middle East, Africa, and the Asia Pacific. The funding will also be used to ramp up development of Shield's communications compliance platform.
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 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.
