Mine – a pioneering company disrupting the data privacy marker – announced today that it has raised $30 million in Series B funding, co-led by Battery Ventures and PayPal Ventures, with significant investments from Nationwide Ventures and with the participation of all existing investors, including Saban Ventures, Gradient Ventures (Google’s AI), MassMutual Ventures and Headline Ventures. This investment will propel Mine’s mission to redefine global data privacy and governance management for companies, enabling them to gain better control over their data and simplify regulatory compliance processes to get peace of mind.
The company will scale up its B2B enterprise-grade product MineOS with this funding round. MineOS distinguishes itself with its intuitive, no-code experience and seamlessly integrated with advanced AI technology. This integration not only sets a new industry benchmark in automation and accuracy, but it also revolutionizes the data discovery process – making it more accessible and efficient for businesses of all sizes to automatically discern the apps and infrastructure they employ, identify personal data within these systems, and grant individuals control over their data usage.
Mine has seen notable customer growth across diverse segments and industries, reflecting the universal demand for robust data privacy and governance solutions. And this surge highlights the versatility and effectiveness of MineOS, with rapid adoption observed among businesses ranging from burgeoning startups to well-established enterprises.
Rooted in the B2C origins, Mine prioritizes the customer experience, including a streamlined and continuous data discovery, inventory, and classification system – unveiling near total coverage of any type of data, structured or unstructured, cloud or on-premise utilized by the company, complemented by the most comprehensive cloud scan to identify all assets. And this evolution encompasses AI Risk Assessments, Shadow IT Management, Compliance, Privacy requirements such as RoPA and DSR Handling, and other Security measures.
The ultimate goal for MineOS is to emerge as the singular source of truth for Data Lifecycle Management. And Mine currently serves over 2,000 customers through its unique free tier offering and over 150 mid-size and enterprise customers, including Reddit, HelloFresh SE, FIFA, and Data.ai. Their customers are based across North America, Europe, Israel, Canada, etc. This diverse customer base is a testament to our platform’s versatility and effectiveness.
Mine tackles crucial data privacy and governance issues, specifically navigating complex data regulations and an escalating demand for transparency. Acknowledging the challenges industries face in data inventory discovery and classification, Mine aims to ease customer frustrations by prioritizing a more efficient and seamless process through an automated data privacy program. This transformation addresses the drawbacks of lengthy and inefficient processes and high costs, with the expected return on investment often realized after a year.
KEY QUOTES:
“Unlike other solutions that merely report data findings, MineOS enables us to automate assessments and fulfill regulatory obligations, transforming our approach to data privacy and governance. MineOS stands out in the data governance market by not only providing accurate insights but also empowering effective management of our data governance operations.”
— Jutta Williams, Head of Privacy & Assurance at Reddit
“In the ever-evolving landscape of regulations and groundbreaking initiatives like AI, organizations now demand comprehensive visibility for effective data governance, and our solutions have never been more essential for enterprises of all sizes. We’ve engineered a completely differentiated customer experience that has proven itself in the marketplace. Our pragmatic approach, coupled with an unwavering emphasis on ease of use, has deeply resonated with our users. This funding positions us to deliver an even more seamless and differentiated experience, ushering in a more efficient and streamlined approach to addressing data privacy concerns in the B2B market. This further solidifies our commitment to making the digital world safer and more transparent.”
— Gal Ringel, co-founder and CEO of Mine
“We have been steadfast supporters of Mine from the very beginning, and we are thrilled to be part of this pivotal moment in the evolution of data privacy solutions for enterprises. Our investment with Mine underscores our confidence in the team’s innovative approach to empowering B2B enterprises in their privacy endeavors. We look forward to witnessing their continued growth and impact in the market.”
— Scott Tobin, Senior Partner at Battery Ventures
