Soveren, a London-based startup that automates the detection of privacy risks to help organizations comply with GDPR and CCPA, has launched out of stealth with $6.5 million in seed funding.
The company analyzes real-time data flows inside an organizations’ infrastructure to discover personal data and detect privacy risks to make it easier for CTOs and CISOs to recognize and address privacy gaps. Soveren says some 10 million companies globally are at risk of violating GDPR and other regulatory obligations because of their failure to detect and resolve privacy incident.
“Security software successfully addresses security threats, but has a limited impact on addressing privacy challenges,” Peter Fedchenkov, founder and co-CEO of Soveren, tells TechCrunch. “This is because, unlike other confidential data that can be easily isolated, personal data is actually meant to be accessed, used, and shared in day-to-day business operations. We believe that…
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