The data privacy startup SayMine Technologies Ltd., better known as Mine, announced the closure of its $30 million funding round today.

The Series B round was led by Battery Ventures and saw significant investments from PayPal Ventures and Nationwide Ventures too. The startup’s existing investors, including Saban Ventures, Gradient Ventures, MassMutual Ventures and Headline Ventures also participated in the round. Mine said the funds will be used to push forward its mission to redefine data privacy and governance management for enterprises.

The startup wants to give companies better control over their data and simplify regulatory compliance processes. It does this by tackling some of the biggest challenges around data privacy and governance, for instance by helping companies to navigate complex data regulations and demands they face for greater transparency. With MineOS, its automated data mapping and privacy platform, it gives companies a simplified approach to data inventory discovery and classification.

In addition, Mine said its platform prioritizes user experiences. It offers a streamlined, continuous data discovery, inventory and classification system that provides near total coverage of any kind of information used by its customers, including structured and unstructured types, located in the cloud or on-premises. By combining artificial intelligence algorithms with a no-code experience, anyone can use its cloud scanning tool to identify all data assets that belong to a company. In this way, MineOS acts as a singular source of truth for data lifecycle management.

Mine said the comprehensive data discovery and classification tools it offers are more essential than ever as enterprises are struggling to get to grips with the mountains of information they generate. With the growing enterprise adoption of artificial AI models, which are trained on enormous amounts of company data, it’s also exploring the development of solutions that will enable companies to comply with the evolving AI governance and risk assessment landscape.

Mine co-founder and Chief Executive Gal Ringel stressed the need for more comprehensive visibility to enable effective data governance for AI initiatives, where data privacy and safety have emerged as key priorities. “We’ve engineered a completely differentiated customer experience that has proven itself in the marketplace,” Ringel said. “Our pragmatic approach, coupled with an unwavering emphasis on ease of use, has deeply resonated with our users.”

Having filled its war chest, Mine said it plans to scale its MineOS platform to make enhanced data discovery accessible to any company. It claims to have seen “remarkable” customer growth already, across diverse industries and segments, reflecting the almost universal demand for robust and easy-to-use data privacy and governance systems. It counts more than 2,000 enterprise customers already, including Reddit Inc., the Fédération internationale de football association or FIFA, HelloFresh SE and Data.ai Inc.

Reddit’s head of privacy and assurance, Jutta Williams, said the advantage of Mine is that it goes beyond merely reporting on data findings, enabling his team to automate assessments to fulfill its regulatory obligations. “MineOS stands out in the data governance market by not only providing accurate insights but also empowering effective management of our data governance operations,” she added.

Battery Ventures General Partner Scott Tobin said he has been a steadfast supporter of Mine from the very beginning. “Our investment with Mine underscores our confidence in the team’s innovative approach to empowering B2B enterprises in their privacy endeavors,” he said.

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