Shield, a Ramat Gan, Israel-based workplace intelligence platform, raised $20 million in its Series B funding.
The round was led by Macquarie Capital, with participation from UBS via UBS Next, Mindset Ventures, and OurCrowd.
The funds will be used to fuel the further development of its platform and boost its growth in existing markets. The firm also has plans to expand into new countries, including the US, and will soon open its second R&D facility in Lisbon, Portugal.
Commenting on the fundraising, Shiran Weitzman, CEO, and co-founder of Shield says the round is “further proof” of the market need for a modern solution that can strengthen surveillance across communication channels and that “Shield is well-positioned to meet that need."
Shield monitors and manages financial institutions’ electronic communication data to help businesses increase efficiency and meet regulatory compliance standards. It utilizes AI and natural language processing (NLP) to help financial organizations mitigate risks, improve operational efficiency, and reduce compliance costs.
Company: Shield Financial Compliance Ltd
Round: Series B
Funding Month: December 2022
Lead Investors: Macquarie Capital
Additional Investors: UBS, Mindset Ventures and OurCrowd
Company Website: https://www.shieldfc.com/
Software Category: Communication Compliance
About the Company: Founded in 2018, Shield is a workplace intelligence platform focusing on communication compliance which automates the complete communications life cycle. By utilizing AI, natural language processing, and visualization capabilities, Shield helps financial organizations mitigate risk and drive an efficient and ROI-positive surveillance process. Its mission is to help people and organizations turn compliance into a competitive advantage. Shield is headquartered in Ramat Gan, Israel.