Israel’s Shield bags $20m in Series B funding

Israel-based workplace intelligence platform Shield has raised $20 million in its Series B funding round, led by Macquarie Capital.

Also participating in the round were UBS via UBS Next, Mindset Ventures and OurCrowd.

Shield says it will use the fresh capital to fuel the further development of its platform and boost its growth in existing markets. The firm also has plans to expand into new countries, including the US, and will soon open its second R&D facility in Lisbon, Portugal.

Founded in 2018 with its headquarters in Ramat Gan, Israel, Shield monitors and manages financial institutions’ electronic communication data to help businesses increase efficiency and meet regulatory compliance standards.

It utilises AI and natural language processing (NLP) to help financial organisations mitigate risks, improve operational efficiency and reduce compliance costs.

The firm previously raised $15 million in a Series A funding round in January this year.

Commenting on the fundraise, Shiran Weitzman, CEO and co-founder of Shield, says the round is “further proof” of the market need for a modern solution that can strengthen surveillance across communication channels and that “Shield is well-positioned to meet that need”.