An undisclosed amount of money for pre-Series A funding has been raised by Omnisient. Omnisient is a South African based secure data sharing startup.
Omnisient which started from Cape Town prides itself as a secure data sharing startup for businesses. The startup enables businesses to use data for gains while protecting the data privacy and intellectual property of customers. The startup believes that customer data privacy and protection should be central and not a hindrance to the democratization of data and the broader participation of businesses in the use and sharing of data.
Omnisient’s believe that data sharing creates tremendous value for businesses and consumers alike was the reason why they created intersect.ai, the secure data exchange that ensures companies can protect personal information and intellectual property while sharing data internally or externally.
There is likely an opportunity for Omnisient as it stands. South Africa’s information regulator is pushing for the total implementation of the Protection of Personal Information Act (POPIA). The finality of the act to come into effect by April 1, 2020, will surely be a chance for Omnisient to have new businesses into its folds.
“With rigorous new data privacy regulations coming into effect, businesses across sectors have to put secure data sharing systems and infrastructure in place,” said Jon Jacobson, chief executive, and technology officer at Omnisient.
“Savvy business leaders are quickly recognizing the imperative to act now, and are looking to integrate world-class technology that simultaneously drives growth through data monetization.”
Omniscient has cutting edge technology data solutions like Improve Modeling: Omnisient creates a new paradigm for modeling. By enabling data security and consumer privacy within the intersect.ai data exchange, many businesses that have never considered monetizing their data are starting to make it available to test the value it might hold for other businesses.
Audience Data Profiling: A gym group catering for middle to lower-income health and fitness audiences wanted to better understand the difference between their premium members and regular members, so that they could understand which prospects to pitch their premium membership to.
Janade Du Plessis, head of alternative investments and venture capital at Nedbank, said Nedbank CIB was at the forefront of investing in disruptive technologies that make a meaningful difference to people’s lives, including data privacy initiatives.
“Our investment in Omnisient will support the company’s scaling of their team to capitalize on their first-mover-advantage in Africa. We are confident that the intersect.ai platform will be beneficial to our corporate clients that are looking to monetize their data or improve unique client value propositions, in a safe and compliant way,” he said.
The startup is working hard to make it easily possible for businesses to access data in ways that will not compromise the privacy of customers at all.