MIND, a Seattle-based startup focusing on data protection, recently emerged from stealth mode and announced an $11 million seed round. Founded by cybersecurity experts Itai Schwartz, Eran Barak, and Hod Bin Noon, MIND utilizes algorithms and automation to help companies mitigate risks and prevent leaks with sensitive unstructured data. The startup is part of the growing trend of DLP firms seeking to meet increasing security requirements driven by the rise in data usage, particularly in the AI space.
Among MIND’s customers are education company Guild, cloud platform Akamai, and translation service Lionbridge. Co-founder and CEO Eran Barak has previous experience founding Israeli security startup Hexadite, which was acquired by Microsoft in 2017. With four team members based in Seattle and the rest spread across the U.S. and Tel Aviv, MIND has already grown to over 30 employees. Co-founder and CTO Itai Schwartz was the first employee at Torq, a security automation startup, while co-founder and VP of R&D Hod Bin Noon was the inaugural team member at security startup Dazz.
The trio of founders, Schwartz, Barak, and Bin Noon, all have backgrounds in the Israeli military cyber warfare unit 8200, bringing their expertise in cybersecurity to MIND. The seed round was led by YL Ventures, a venture capital firm with locations in Silicon Valley and Tel Aviv, with additional investments coming from leaders in publicly traded cybersecurity companies. MIND is positioned to take advantage of the growing need for data protection solutions as companies continue to rely on vast amounts of data for their operations.
As cybersecurity threats evolve and data protection becomes increasingly important for businesses, startups like MIND are becoming vital players in the industry. By leveraging advanced algorithms and automation, MIND aims to help companies safeguard their sensitive data and prevent leaks that could compromise their operations. With a team of experienced cybersecurity professionals and backing from prominent investors in the industry, MIND is poised to make a significant impact in the data protection market.
The use of unstructured data by companies is on the rise, driven in part by advancements in AI technology and the need for more sophisticated data analytics. This trend has also led to an increased focus on data loss prevention by businesses looking to protect their valuable information. MIND’s approach to data protection through algorithms and automation aligns with the current cybersecurity landscape, where proactive measures are essential to staying ahead of cyber threats.
MIND’s customer base, which includes prominent companies like Guild, Akamai, and Lionbridge, demonstrates the startup’s ability to provide effective data protection solutions to a diverse range of industries. By drawing on the expertise of its founders, who have deep roots in cybersecurity and military intelligence, MIND is well-equipped to address the evolving challenges of data security in an increasingly digital world. As the company continues to expand its reach and offerings, MIND is poised to become a key player in the data protection market.
