Omnisient Data Sharing Platform Secures R20 Million Funding for Global Expansion

Omniscient founders

VScity ​​based monkey Confidentiality by design Start specialized in secure data sharing for companies Omnisient secured $ 1.4 million or Rand 20 million in funding for global expansion.

Since its launch, the The platform has gained traction among South African businesses, including major banks, insurers and retailers.

The startup said the R20 million investment will be used to expand its team, accelerate product development and spur international expansion.

“We have engaged visionary international investors – Technova, Grand Bay Ventures, Tahseen Consulting and Kepple Africa Ventures – who will be essential to support our global expansion,” said Jon Jacobson, CEO of Omnisient.

“Investtec, Nedbank and Compass – the three original Omnisient investors – led the round, reflecting their confidence in our ability to innovate and grow. The data economy is at the heart of the digital transformation that many of our customers adopted a few years ago and which has been accelerated by the global pandemic. We see a huge and largely unaddressed market opportunity. “

The aim is to focus international expansion with the United States, United Kingdom and Middle East as key territories.

“Omnisient is a company that has the potential to disrupt a global market. They have assembled a world-class team and are building a unique product for transformational data exchange and collaboration, ”said Shane Rogel, of Grand Baie Ventures.

“We are excited about this opportunity, in South Africa and abroad, and have the utmost confidence in the team and their ability to deliver on their vision. “

The platform ensures that organizations can derive meaningful information from datasets without compromising personal information. This is a very relevant solution in a market hungry for information but focused on compliance.

“Companies are increasingly sophisticated in their approach to customer information,” said Anton Grutzmacher, director of corporate revenue.

“They are also aware of concerns related to the use of this information and the need to comply with global data privacy regulations such as GDPR and POPIA.”

Omnisient’s platform was developed by a team of data experts including scientists and data engineers. The company’s proprietary technology allows organizations to partner (or collaborate) with other businesses by overlaying shared and anonymized customer assets without disclosing personal information. This new concept of data virtualization allows organizations to enable business intelligence (BI) and analytics teams to develop new information and target new audiences without ever physically sharing data.

“Omnisient has radically changed the way organizations innovate and increase their profits with data,” concludes Grutzmacher.

“According to Gartner, organizations that promote data sharing are more likely to outperform their peers on most measures of business value, and that’s something companies around the world want to achieve. With the Omnisient platform, businesses can activate collaborative marketing opportunities, launch new businesses, and redefine customer metrics without affecting privacy or compliance mandates.

Omnisient’s technology is currently being used by leading financial institutions, retailers and healthcare providers to generate deeper, more actionable customer insights that drive loyalty. Customers benefit from increasingly personalized products and offerings, while organizations benefit from improved engagement and loyalty.

Read also : Investec and Nedbank bet on SA Omnisient’s secure data sharing platform

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