Austrian FinTech MOSTLY AI has recently collected $25 million to boost its data protection solutions and help organisations protect their valuable data more securely.
Founded in 2017, the company has already successfully assisted the Austrian government and the European Commission in data protection and compliance. With this new funding, MOSTLY AI is in an even better position to offer state-of-the-art data protection and compliance services to various organisations.
Austrian FinTech MOSTLY AI collects $25m to boost data protection
Austrian FinTech MOSTLY AI is a Vienna-based start-up specialising in AI-powered data security solutions. Founded in 2017, the company has helped organisations like the Austrian government and the European Commission protect their data. In April 2021, MOSTLY AI secured its series A funding of $25 million which will be used to continue developing and expanding its services.
MOSTLY AI uses artificial intelligence and biometrics to provide customers with advanced protection for their personal information, financial records, and other sensitive data. The company’s innovative solutions are designed to detect abnormal user behaviour in real time – thus providing an early warning system for potential digital threats and preventing data breaches from occurring.
MOSTLY AI also strives to create a secure environment that complies with European privacy regulations such as GDPR by empowering businesses with comprehensive control over who can access their digital assets and when. By using sophisticated artificial intelligence algorithms, MOSTLY AI ensures that only authorised users can access private information while always protecting customer privacy.
The company is well positioned as one of Europe’s most innovative cybersecurity companies. It has set itself apart from competitors through its high levels of security and cutting-edge technology solutions that put customer data protection first. In addition, the recent Series A funding validates MOSTLY AIRs ambitious growth plan over the next few years – which means more secure technology solutions are on the horizon for businesses across Europe.
The company’s mission
Austrian FinTech startup MOSTLY AI has recently announced the closing of a $25 funding round to support its growing data protection services. With this funding, MOSTLY AI aims to expand its operations, specifically by aiding businesses in securely managing their databases and protecting their data from misuse.
The company is devoted to helping organisations like the Austrian government and the European Commission increase trust and confidence in the data they manage. Let’s take a closer look at the company’s mission and how it plans to do this.
Mission to protect data
MOSTLY AI is a Vienna-based technology company that has created a standard of data privacy and security for organisations that want to ensure their sensitive information’s safety and security. Our mission is to provide AI-driven solutions that enable organisations to protect their data from external threats, reduce the cost of compliance, and automate the processes needed for effective data protection.
We use artificial intelligence (AI) technologies such as machine learning, natural language processing (NLP) and computer vision in combination with our proprietary algorithms to discover potential data leaks, identify privacy compliance issues and create secure user profiles. By doing so we can instantly detect any attempts by hackers to break into our clients’ systems or to access their private data.
We aim to provide leading-edge tools that simplify data compliance requirements while protecting our clients’ data and privacy rights. We believe in creating a secure environment where organisations can have confidence in keeping customers’ sensitive information safe from unauthorised access or misuse.
At MOSTLY AI, we strive towards optimal cyber security solutions through creativity and collaboration with industry stakeholders so that companies are well-equipped with tools that protect the integrity of their valuable digital assets while reducing the risks associated with inadequate protection measures. We are committed to pursuing excellence in everything we do, always working towards providing stable, robust solutions tailored uniquely for every customer’s needs.
Clients served
MOSTLY AI has established itself as a leading provider of data privacy solutions, with a wealth of experience helping organisations of all shapes and sizes address their data privacy challenges. We have supported and guided the Austrian government and the European Commission in their efforts to protect confidential information, while also developing relationships with more than 50 other global clients, including financial technology companies and commercial enterprises.
At MOSTLY AI, our mission is to provide data privacy solutions that enable businesses to leverage the power of data for greater speed, efficiency and insights — all while protecting confidential information from misuse or abuse. This includes offering privacy-by-design tools that can be applied to existing applications and utilising artificial intelligence (AI) technologies such as neural networks and transfer learning algorithms, which offer unparalleled security advantages when used correctly. In addition, our commitment remains to help clients protect their data in line with all applicable laws and regulations —including GDPR in Europe— both now and in the future.
Fundraising
Austrian FinTech MOSTLY AI has raised $25 million in a new funding round to help organisations protect their data.
This funding will enable MOSTLY AI to expand its team and its technology platform while further investing in research and development that will drive the development of data protection capabilities.
With this investment, MOSTLY AI is well positioned to become a leader in the data protection sector.
$25m capital raise
Austrian FinTech MOSTLY AI, a leading data privacy developer, has just completed a $25m capital raise which is backed by investors such as Atomico, Earlybird, Grazia Equity and UVC Partners. The capital raised will be used to accelerate business growth in Europe and the US, and explore new partnerships with enterprise customers.
The company was founded in 2017 by artificial intelligence experts from the Technical University of Vienna and has since secured well-known enterprise customers such as Microsoft Azure, IBM Watson, Uber Eats, N26 and Stratio. Furthermore, MOSTLY AI’s clients include some of the world’s leading mobile carriers who use its solutions for data privacy.
MOSTLY AI offers a range of products that protect companies from malicious data threats, including cyber-attacks and espionage. The company also helps organisations comply with global privacy directives including General Data Protection Regulation (GDPR) that require organisations to protect personal data.
The team behind MOSTLY AI believes their solutions can help organisations build trust with their customers by proactively protecting their personal data from threats like targeted attacks and economic espionage; thereby reducing their operational costs to comply with application security standards. In addition to this raise, the company has already helped organisations such as the Austrian government and the European Commission protect their data throughout Europe.
Investors
The $25 million investment is the latest for Austrian FinTech MOSTLY AI, a data security and privacy startup founded in 2018. The round was led by Berlin-based venture capital firm Project A Ventures and several other notable investors including Google’s AI venture fund Gradient Ventures. Other investors included Austria Wirtschaftsservice (AWS), Bitmovin founder Arthur Grau, Western Digital Capital, and Unternehmertum Venture Capital Partners.
This latest round of financing brings the total funding raised by MOSTLY AI to around $40 million since its inception two years ago. This money will be used to further expand MOSTLY AI’s product lineup, hire new technology talent, and boost research and development initiatives in support of data privacy and Artificial Intelligence (AI) technologies.
This round of fundraising also follows other successful collaborations made by the company. Over the last two years, the team has worked on projects that have enabled organisations such as the Austrian government and the European Commission to better protect their intellectual property rights through patent protection APIs and applications built with secure encryption technology developed by Mostly AI team members. With this new influx of capital, MOSTLY AI is well positioned to continue innovating in these areas while developing more advanced products to help organisations across Europe stay ahead of today’s digital challenges.
Benefits of the company
Austrian FinTech MOSTLY AI has developed an AI-based data protection system that helps organisations secure their data. This system uses innovative Artificial Intelligence algorithms to detect and protect data from unauthorised access.
By collecting a $25 million investment, the company aims to expand its services to other organisations, so let’s explore the benefits of this AI-driven data protection system.
Increased data protection
Organisations that use the Austrian FinTech MOSTLY AI’s services can gain access to a host of innovative technologies and high-grade security measures. In addition, it can enable organisations to deploy data protection solutions that are more advanced and secure than those available off-the-shelf. This can include encryption algorithms, authentication processes, compliance tools, and measures for recognizing unauthorised users or suspicious attempts at downloading confidential data.
With increased data protection at its disposal, companies will be better prepared to adapt to the ever-changing threats of a digital world. Furthermore, enterprises that implement the technology established by Austrian FinTech MOSTLY AI will benefit from higher levels of assurance and customer trust in their data policies and procedures. That means companies need not worry about complying with stringent regulations set out by international institutions such as GDPR. Instead, they can confidently provide customers with tailored products and services built around using their customer data responsibly and safely.
The company has already helped organisations like the Austrian government and the European Commission protect their data more securely with customised solutions created precisely for their needs.
Improved customer experience
Organisations that have worked with the Austrian FinTech MOSTLY AI to secure and manage their data have experienced an improved customer experience. By leveraging MOSTLY AI’s powerful tools and technologies, organisations can give customers secure access to their data without sacrificing security or compromising privacy. Furthermore, these tools are designed to be flexible and able to adapt quickly to new industry standards, allowing organisations to stay ahead of evolving threats and remain compliant with stringent regulations.
In addition, MOSTLY AI offers a variety of training programs designed to help staff members understand the importance of data protection and how best to use the system for their customers. The company also provides insight into the most up-to-date industry trends, helping companies stay one step ahead of the competition regarding safeguarding customer data.
Overall, customers benefit from a more secure environment where their information is inaccessible from possible hackers or other malevolent actors, all while feeling reassured that their data is safe in adept hands. With such improvements in customer experience, it is easy to see why leading organisations such as the Austrian government and European Commission have chosen MOSTLY AI to help with their data management needs.
Future plans
Austrian FinTech MOSTLY AI has recently secured $25 million to help bolster their data protection solutions globally. Having already worked with the Austrian government and the European Commission, the company has plans to further expand their tech solutions across the globe.
In this article, we will discuss the future plans of MOSTLY AI in terms of data protection and how they intend to achieve it.
Expansion of services
MOSTLY AI has recently collected $25 million to improve the quality and quantity of their services by investing in advanced technologies and approaches. With these funds, Austrian FinTech is looking to expand beyond Europe, increase their services portfolio and strengthen data protection for organisations at home and abroad.
The company aims to use artificial intelligence technology to continue helping organisations protect their sensitive data, modernising operations, and improving efficiency. Within that scope, MOSTLY AI plans to expand their existing services and explore new offerings such as consulting, audit support, and data-driven human resources management. Additionally, they plan to deploy machine learning models more widely across European public institutions with the help of cloud service providers such as Google Cloud Platform and Amazon Web Services.
MOSTLY AI is also interested in developing cooperation programmes with universities worldwide to ensure that companies can access the best expertise in cyber security. In addition to these initiatives, they are partnering with other research centres to create a strong network capable of testing cutting-edge solutions for data protection quickly and effectively.
By leveraging investments from venture capital firms such as SpeedInvest Austria GmbH & Co KG , MOSTLY AI aims to become a leader for global business that focus on protecting sensitive data without compromising quality or performance standards. With this strategic vision, MOSTLY AI is poised for continued success within the next few years as businesses seek reliable security solutions amid a rising demand for comprehensive cyber security measures across multiple industries worldwide.
Plans to develop new products
MOSTLY AI, an Austrian FinTech company specialising in artificial intelligence (AI) and data protection technologies, has recently collected $25 million to further expand their products. In the past, MOSTLY AI has helped organisations such as the Austrian government and the European Commission protect their data. With this new capital injection, they are exploring ways to develop new products for their existing customers and pursuing opportunities in Europe and North America.
MOSTLY AI plans to invest in research and development of some new projects that include a cryptography algorithm suite, which offers better data security than traditional algorithms; a breach-detection system which uses Machine Learning (ML) to continuously detect behaviour threats; an Encryption-as-a-Service platform for secure data storage environments; a anonymization technology that eliminates direct or indirect identifiers in customer databases; and an enterprise ready robusting framework for AI models.
These initiatives are expected to help MOSTLY AI further expand its reach beyond existing markets while ensuring top-notch security standards – all. At the same time, they help keep both customer privacy and business operations intact across different industries.
tags = Austrian FinTech MOSTLY AI, boost data protection, $25m, Molten Ventures, Earlybird, 42CAP, Series B funding, austriabased ai series molten venturessharmaventurebeat
