Shield, a developer of a capital market manipulation and fraud detection platform, has completed a $ 15 million round of funding led by Macquarie Capital and OurCrowd and Mindset Ventures. This is the company’s first capital raising, which was established in 2018, and has grown organically so far through sales and revenues in volumes that reportedly amounted to tens of millions of shekels (in 4 years).
The Shield startup was founded by Shiran Weizmann and Ofir Shabtai, joined by Eran Noam, who serves as the company’s chief business officer. The investment will be used to recruit personnel in Israel and expand operations in the United States, Europe and the Far East.
Shield provides banks and financial organizations with a platform for collecting, documenting and analyzing based on artificial intelligence of internal and external organizational interactions of traders and employees. In accordance with regulatory requirements Engaged in protecting investors, maintaining capital market integrity and preventing fraud. Documentation and analysis include emails, chats, phone calls, Zoom, Microsoft Times and others to enable the company to detect fraudulent attempts ahead of time by influencing securities, executives, insider trading and more.
Sheeran Weizmann, and CEO of Shield: “Financial companies around the world are responsible for the activities of their employees, if they do not monitor this activity in accordance with the regulatory conditions aimed at maintaining integrity, transparency and investor protection. Every year, companies, especially banks, are fined tens of billions of dollars for irregularities. The follow-up required by previous technological means using internal organizational tools, but the technological acceleration of recent years and the move to work from home have devoured the cards for them after employees moved to run their work with a variety of tools, conducting hundreds of millions of dollars from their private home or WhatsApp “This is fertile ground for fraud and procedural violations. This situation has created a regulatory and operational challenge that has led banks to seek help from technology companies like ours.”
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