Infinnium raises multi-million dollar seed funding with AI-backed data privacy and IG solutions
Infinnium, a startup company that is developing solutions to improve law firm information management and business decision-making through AI, has raised a multi-million-dollar seed investment.
Infinnium was founded in 2018 to provide software solutions for law firms and corporations. Its 4iG Suite brings together elements of machine learning and AI to gain visibility across data repositories, providing insights into both structured and unstructured data to help organisations organise, analyse and categorise large volumes of data. It promises to protect access to sensitive information such as PII, achieve compliance with HIPAA and GDPR and reduce the volume of redundant content.
ObscurePI product aims to automatically find and redact PII within structured or unstructured data; automatically encrypt files in preparation for transmittal; secure sensitive information for internal uses on a need to know basis; perform redactions of privileged information in advance of production for litigation discovery; and provide audit reporting on progress toward compliance.
The fledgling company is looking for early beta testing so if you’re interested click here: https://www.infinnium.com/obscure-pi.php
Crunchbase will tell you that Infinnium offers services such as business and legal operations consulting, legal project management and custom software development that “help organizations to improve information management and governance, regulatory and privacy compliance and e-discovery, enabling clients to harness their data to gain actionable intelligence and make smarter business decisions.”
The investment was made by Indian-headquartered tech conglomerate the Sahajanand Group, which focuses on developing pioneering smart technologies. The investment in Infinnium recognizes the potential for AI and other data technologies to address growing challenges in data privacy, data protection and regulatory compliance.
“Globally organizations are facing exponential data growth, combined with increasing complexity in security and data privacy. Organizations are not well equipped to derive the financial benefits available from effective information governance, and they continue to face expensive penalties and loss of financial value as long as the IG technology gap exists,” says Bhargav Kotadia, managing director, Sahajanand Group. “We have invested in Infinnium with a long-term outlook. We believe that Infinnium has the strategic vision and groundbreaking AI solutions to lead the coming transformation in information governance and data privacy.”
“We formed Infinnium to address huge risk, cost and compliance issues in the information governance market space. There exists substantially underutilized financial potential for decision support from structured and unstructured, numeric and textual data. Organizations in pursuit of effective information governance are hindered by the huge scale of data, manual efforts, a shortage of knowledge and a lack of specialized technology,” says Hari J. Pandya, co-founder and chief financial officer at Infinnium. “Infinnium is uniquely positioned to bridge those gaps with our sophisticated, simple and unified AI technology platform providing end users full control over information from diverse sources. We are pleased to have the Sahajanand Group endorse our vision and strategy, and we are excited to have them join hands with us with this vital funding.”
Pandya’s fellow co-founders are Harsh Sutaria, Nirav Avaiya and Hitesh Zunzuwadia, who, according to indianWeb2, are all based out of Gujarat.