MIND, a company that only emerged from stealth seven months ago, announced on Tuesday that it had raised $30 million in Series A funding led by Paladin Capital Group and Crosspoint Capital Partners, with participation from Okta Ventures and existing investor YL Ventures. The round brings MIND’s total funding to more than $40 million.
This investment shows confidence in a big change in how companies protect their most sensitive data, especially in today’s AI-driven world. As businesses deal with huge amounts of unstructured data and more advanced insider threats, MIND offers a solution that uses AI to help.
MIND has built an AI-powered platform that works automatically to find, label, and stop data leaks quickly and accurately. Their special software runs on company devices, constantly watching for risky behaviour. It uses business rules to understand the context and blocks data from being stolen—whether by accident or on purpose—before it becomes a serious problem.
At the heart of MIND’s system is “MIND AI,” its main engine. It uses smart layers of classification to find sensitive data across large and complex digital systems. It can automatically fix security issues and cut down on the overwhelming alerts that usually flood security teams.
MIND was founded in 2023 by Eran Barak, who had earlier started a company called Hexadite, which Microsoft later bought.The other two co-founders are Itai Schwartz, the Chief Technology
Officer, who was the first employee at security automation startup Torq and also at Axonius, a successful tech company in asset management.
The third co-founder, Hod Bin Noon, is the VP of R&D. He was the first employee at Dazz, a company that focuses on spotting and fixing security weaknesses in real-time.
The co-founders of MIND have many years of experience in cybersecurity and held top positions in Israel’s Military Intelligence Unit 8200. Right now, MIND has around 40 employees. With the new funding, the company plans to hire more people and double the size of its research and sales teams by the end of the year.
Since launching publicly, MIND says its number of customers has grown by 500%. It’s becoming popular with large companies, including those on the Fortune 1000 list. The company now helps protect data on hundreds of thousands of devices.
“MIND was founded to help organizations thrive in the AI era and navigate the exponential growth of sensitive data in complex IT environments,” said Eran Barak, Co-Founder and CEO of MIND. “Our rapid growth reflects a clear market shift toward smarter, faster and fully automated approaches to DLP and insider risk. This funding validates both our product and the market demand.”
Read more- Nomupay Gets $40M from SoftBank to Grow Payments in Asia
