Mine, Focusing on Data Privacy, Receives $30 Million Investment

Mine, the pioneering company disrupting the data privacy market, has raised $30 million in Series B financing, co-led by Battery Ventures and PayPal Ventures, with significant investment from Nationwide Ventures and participation from all existing investors, including Saban. Advancing Mine's mission to redefine data privacy and governance management for companies around the world, enabling companies to gain better control over their data. It will also enable them to simplify their regulatory compliance processes for peace of mind. The company will scale its B2B enterprise-class product, MineOS, with this investment. MineOS is characterised by an intuitive, code-free experience that seamlessly integrates with advanced AI technology.

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Mine

This integration not only sets a new industry standard in automation and accuracy. It also revolutionises the data discovery process, enabling businesses of all sizes to automatically differentiate the applications and infrastructure they use. It also enables them to identify personal data within these systems and make them more efficient. Mine has seen remarkable customer growth across various segments and industries, reflecting the universal demand for strong data privacy and governance solutions. This increase emphasises the versatility and effectiveness of MineOS. Rapid adoption has been observed among businesses ranging from emerging startups to well-established enterprises.

It prioritises the customer experience, including a streamlined and continuous data discovery, inventory and classification system that covers almost all types of data used by the company, structured or unstructured, in the cloud or on-premises. What is the ultimate goal of MineOS? To emerge as the only true source for Data Lifecycle Management. Mine currently serves over 2,000 customers through its unique free tier offering and over 150 mid-sized and enterprise customers including Reddit, HelloFresh SE, FIFA and Data.ai. Their customers are located in North America, Europe, Israel, Canada and more.

"We Designed a Proven, Fully Differentiated Customer Experience in the Market"

Mine addresses key issues in data privacy and governance, specifically dealing with complex data regulations and the increasing demand for transparency. Recognising the challenges industries face in data inventory discovery and classification, Mine aims to alleviate customer pain points by prioritising a more efficient and seamless process through an automated data privacy programme. This shift also aims to address the disadvantages of lengthy, inefficient processes and high costs, with the expected return on investment typically realised after a 12-month period.

Recognising the impending increase in state-level data regulations and the ongoing data explosion due to massive data generation, collection and management, Mine is poised to lead the market in the coming years with a focus on increased data privacy in the US projected for 2024 and 2025. As the privacy landscape continues to evolve, Mine is actively developing solutions for emerging AI regulations, including AI Governance and Risk Assessment functionality.