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Shield Raises $20 Million for Workplace Intelligence

Artificial Intelligence

Shield team: Company photo by Eric Sultan

Israeli startup Shield, which uses an artificial intelligence AI based platform for aiding compliance teams, raised $20 million in a series B round of funding led by Macquarie Capital and joined by UBS. The new round of funding comes following a $15 million Series A round of funding that Shield held earlier this year.

Investopedia explains that a compliance department typically has five areas of responsibility—identification, prevention, monitoring and detection, resolution, and advisory. A compliance department identifies risks that an organization faces and advises on how to avoid or address them. It implements controls to protect the organization from those risks. Compliance monitors and reports on the effectiveness of controls in the management of the organizations risk exposure. The department also resolves compliance issues as they arise and advised the business on rules and controls.

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, boasts Shield, the company can help financial organizations mitigate risk and drive an efficient and ROI-positive surveillance process. The company says that it is addressing some of the most “burning challenges” in the financial compliance domain, such as trade & eComms surveillance, market abuse, trade reconstruction, record-keeping, 360 investigations, and more.

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“We’re thrilled to be able to begin work with UBS on multiple levels – as a client and now as an investor in our latest funding round,” said Shiran Weitzman, CEO, and Co-founder of Shield. “This further proves that there is an immediate market need for a modern, proactive solution that supercharges surveillance across communication channels and that Shield is well-positioned to meet that need.”

Shield intends to use the funds to further grow in existing markets and expand into new ones, including the US. The firm is also opening its second R&D facility in Lisbon, Portugal, and to propel its leadership in innovation, as it continues the development of its financial compliance platform.



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