One of the most productive things we can do as human beings is staying open to change under all circumstances. This dynamic makes sure that we are able to function across more open-ended landscapes, and by doing so, we give ourselves a constant chance at achieving something better. Now, it might sound like one simple setup, but there is actually a lot more in play here than what meets the eye. For instance, despite having progressed beyond all expectations, we do have long history of failed pursuits and undesirable results. There are, in fact, enough occasions when our failures have ended up causing a far-reaching effect. Hence, in a bid to cut back on these situations, the world will put-together a thorough regulatory framework for every area in our spectrum. While the move was a resounding success, it cannot really claim a flawless record. The said reality, as we know, emerges from a sheer lack of compliance. Since regulatory industry first came into existence, many players in different industries have tried and bypassed the established regulations. It is, by all means, a sizeable group, but we must also acknowledge a whole another group, which genuinely finds the regulatory framework exceedingly complex. The latter category’s needs have produced a new market altogether within the sector, and due to the burgeoning size of this segment, we are witnessing more and more companies actively exploring its commercial potential. Nevertheless, Shield’s AI approach still stands out rather comfortably. With recent funding, the company will be hoping to solidify that position.
Shield, a compliance surveillance provider, has officially secured funding worth $15 million in a recently-concluded funding round. According to relevant reports, the round was led by Macquarie Capital, and OurCrowd, whereas Mindset Ventures is also said to have joined the party. Talking about how it plans on using the funding, the company expressed an intention to further expand and realize a sustainable global presence. Apart from it, Shield will also invest a chunk in the ongoing development of its communication compliance platform. The reason why a fresh financial boost could become a big deal for the company in near future is because it already has all the right tools in the bag. Shield’s AI and NLP application is proven to be efficient against different backdrops, so by giving it just another brush up, the company can put itself in a very promising position.
“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.
At present, Shield is helping companies monitor over 150,000 employees, analyzing more than 53 million interactions each day. From a financial standpoint, the company has, so far, witnessed a threefold increase in revenue every year.