Concept: California’s cybersecurity startup NVISIONx has rolled out a data risk intelligence (DRI) platform that enables companies to gain control of their enterprise data to reduce data risks, compliance scopes, and storage costs. The platform leverages AI and ML to analyze data in an organization’s environment and identify critical assets that need protection. The platform provides insights to enterprises on how to better protect private information from unauthorized individuals and cyber attackers.
Nature of Disruption: The new platform offers a centralized solution to enterprises that enables them to pinpoint their most important data assets to be protected while also purging junk data that take up costly storage space. This approach enables enterprises to have greater control over their data. The startup claims that the new platform is proactive through automated data security and continuous compliance monitoring. The platform enables enterprises to detect excessive or inappropriate access to the data. It helps to reduce data loss prevention (DLP) false alerts, find where critical data was moved, and enable DLP blocking for all critical data. The DRI platform provides identification of unknown systems that store privacy data, continuous monitoring of vendors with access to private data, and near real-time processing of privacy rights requests. It enables the stakeholders to have continuous monitoring of cyber risk and compliance events, continuous monitoring of vendors with access to critical data, global view of where critical data is stored, and provides timely risk and compliance remediation.
Outlook: As organizations are moving to the cloud, the complexity of enterprise networks is increasing. Also, data protection regulations like the California Consumer Privacy Act CCPA and General Data Protection Regulation (GDPR) are imposing more compliance demands on enterprises. As a result, securing data is becoming a challenge due to these factors. NVISIONx claims that its DRI platform enables organizations to ensure data security and also provides visibility as to the storage of sensitive data. It claims the platform analyzes the root cause of data breaches and prevents them from happening. In January 2022, the startup raised $4.6M in a seed funding round led by Companyon Ventures. It aims to use the funding to expand its executive team and enhance its geographic presence.