Shield, an Israel-based Regtech, has raised $20 million in Series B funding. The round was led by Macquarie Capital and joined by UBS Next, and Mindset. Notably, global securities crowdfunding platform OurCrowd backed the funding round after participating in the Series A.
Shield is a communication and compliance platform that allows organizations to mitigate risks, and improve operational efficiency while reducing the cost of compliance. By leveraging artificial intelligence (AI), Shield mitigates risks, including financial crime, privacy, and misconduct.
Shield closed on a $15 million Series A round at the beginning of 2022 and has now raised a total of $35 million in 2022. The company said its rapid growth and increasing demand was the catalyst for the Series B.
Shield stated that it will use funds to grow in existing markets and expand into new ones, including the US. Shield also opened a second R&D facility in Lisbon, Portugal.
Shiran Weitzman, CEO and Co-founder of Shield, noted they are working with UBS and now they will be an investor.
“This is further proof that there is an immediate market need for a modern, proactive solution that supercharges surveillance across communication channels and that Shield is well-positioned to meet that need.”
David Standen of Macquarie Capital said their investment confirms their belief in Shields plans for market expansion.
“We strongly believe in the value Shield can bring to financial organizations and Macquarie is pleased to continue supporting Shield as it delivers real benefit to an increasing range of customers.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!
