Shield is a Tel Aviv– and New York–based communication compliance platform for financial institutions that uses AI to monitor and supervise cross-channel communications. Its platform addresses record management, electronic discovery, supervision and surveillance across messaging apps and voice; it recently introduced eDiscovery capabilities and partnered with Intelligent Voice to bolster voice surveillance. Shield says it does not store customers' data and masks personally identifiable information within communications to meet strict data controls. The company plans to use the $20M Series B proceeds to grow its global presence and accelerate development of its communications compliance platform. Shield opened an R&D facility in Lisbon and competes with AI-powered communication surveillance vendors such as Behavox and Relativity. The four-year-old startup reported 280% year-on-year sales growth and a 250% increase in its customer base since its prior funding round. Shield offers a compliance surveillance platform that applies AI and natural language processing, data enrichment, analytics, enhanced search and proactive surveillance to monitor employee communications. Its platform includes a proprietary privacy content recognition (PCR) engine that masks personally identifiable information across emails, chats, fin-chats and voice recordings. Shield says it is monitoring more than 150,000 regulated employees and analyzing over 53 million interactions per day, and reports having more than tripled revenue year over year since it was established in 2018 alongside 200% year-over-year customer growth. The company positions its solution to help banks and other organizations mitigate market abuse, gain behavioral analysis, address toxic workplace culture and reduce compliance costs. Shield cites increased demand due to remote and hybrid work and the industry shift toward cloud-native solutions. The startup has signed a tier-one global bank as a client and plans to ramp product development while expanding its geographic footprint.

Total raised

$35M

Funding rounds

2

Latest round

Series B

Latest activity

Dec 2022