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Data protection isn’t something organizations can take lightly. With high-profile companies like Sephora, Meta, and Google [subscription required] getting hit with millions in data protection fines over the past couple of months, it’s clear that regulators can and will penalize noncompliance.
However, many organizations are still failing to keep up with their compliance obligations due to the complexity of identifying data due where it lives in the environment. The good news is that is a challenge that many providers are looking to address with artificial intelligence (AI).
Today, AI data privacy provider Securiti announced the release of a unified data control platform that acts as a centralized Data Control Center, which increases data visibility across public and private clouds. The company also announced it has raised $75 million and released DataControls Cloud.
Securiti’s solution identifies structured and unstructured data throughout the cloud using advanced AI techniques, and automatically generates insights about key systems and infrastructure to determine who a given piece of data belongs to.
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The central data-protection challenge: Visibility
One of the key problems with managing data in a way that’s compliant is that many organizations have very limited transparency and control over it. As Twitter’s former CISO, Peiter Zatko alleged, “they don’t know what data they have, where it lives or where it came from, so unsurprisingly they can’t protect it.”
Whether or not these allegations against Twitter are true, the challenge of maintaining visibility over user data is something that many organizations experience. By using AI, Securiti DataControls Cloud allows enterprises to identify exposed data at speed across a multicloud environment, in a way they wouldn’t be able to with siloed data protection solutions.
“There is a proliferation of data across silos of hybrid and multicloud infrastructure. So enterprises have to ensure there is data security, data privacy, data governance and compliance across all these cloud environments,” said Rehan Jalil, founder and CEO of Securiti.
“Instead of looking at these things in silos (across clouds and across security/privacy/governance), Securiti DataControls Cloud enables unified data controls for organizations to fulfill all obligations around data security, data privacy, data governance and compliance, across all clouds, in one place,” Jalil said.
Examining the data protection market
Securiti sits within the data protection market, which researchers valued at $77.3 million in 2019, and they project will reach $257.5 million by 2027 as more enterprises look to protect customer data from increasing compliance liabilities from regulations like the CCPA and GDPR.
One of Securiti’s main competitors in the market is OneTrust, with their Privacy and Data Governance Cloud that offers AI-powered data discovery and classification to identify at-risk data. OneTrust most recently raised $210 million as part of a series C funding round in 2021.
Another competitor is Immuta, with their Data Access Platform, which raised $100 million in series E funding in June of this year. The organization’s solution can scan, classify and tag data; implement attribute-based access control; track user activity with analytics; and audit.
The main differentiator for Securiti is that it’s the first solution to have united controls across all data silos. “Securiti DataControls Cloud is the first platform that enables organizations to deal with all controls around data in one place autonomously, instead of solving for each silo in a disconnected way,” Jalil said.