Ardent Privacy, a data privacy company based in Maryland, today announced that it has received a $200,000 investment from TEDCO’s latest $800,000 round of funding. TEDCO identifies, invests and helps to grow technology companies in Maryland.
“We are very excited to partner with TEDCO to pursue our mission to help companies on their data privacy journey. Enterprises are losing data in infringements not only because they are under attack, but also because of a lack of data hygiene and a lack of a data-centric safety approach. Enterprises need a “Marie Kondo” approach to organizational data as they challenge data deluge and privacy compliance requirements at the same time. Our innovative data minimization technology will help companies reduce privacy risks and simplify compliance with CCPA and future privacy regulations,” said Sameer Ahirrao, CEO of Ardent Privacy.
“We believe that these companies are in a critical area of known need, paving the way for strong businesses to be built here in Maryland,” said Frank Glover, director of the TEDCO Seed Fund and director of the Maryland Venture Fund.
Companies face growing challenges to privacy with increased scrutiny of personal data by regulators, increased expectations of consumers, and a changing global environment. On 16 July, the EU-US Privacy Shield Agreement (EU-US Privacy Shield) was repealed by CJEU (European Union Supreme Court). The Privacy Shield was found to be invalid due to a lack of privacy, surveillance and data protection rights for the transfer of personal data between the EU and the US The California Consumer Protection Act (CCPA) was enacted on 1 January 2020 and enforcement began on 1 July. Companies holding Californian data are responsible for the consumer data they own, and negligence can result in large fines. Fourteen more states are in the process of passing similar legislation. Virginia recently (July 1, 2020) enacted its Insurance Data Security Act to enforce security compliance for insurers and producers in the Commonwealth.
Argent Privacy Solution
Ardent Privacy’s AI-driven solution helps companies reduce their unwanted or excess data footprint to become compliant and resilient in the event of an infringement. Provides deep discovery capabilities that are essential to comply with privacy requirements for compliance, such as data subject access requests (DSAR) Organizations collect and retain large amounts of personal data, which is a significant liability for compliance with privacy For example, CCPA holds companies accountable for their own consumer data, and negligence can result in huge fines. By using the Ardent Privacy solution, companies can reduce risk and liability by limiting excess storage of personal data. Data minimization reduces the costs of data security and storage It is vital for companies to know what data they have and only to keep what they need to do business.
About Argent Privacy
Ardent Privacy helps businesses comply with data privacy regulations such as the California Consumer Privacy Act (CCPA), the EU General Data Protection Regulation (GDPR), the Federal Information Security Management Act (FISMA), insurance data security legislation, and more. Ardent Privacy’s AI-powered data privacy platform provides a quick and easy-to-use data minimization solution for discovering, identifying, inventorying, mapping, minimizing and securely deleting personal data. Ardent minimizes data using machine learning and artificial intelligence to report large data sets in hours rather than days.
LinkedIn page: https://www: Linkin Com/Company/Company-Privacy
TEDCO enhances economic development growth by fostering an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests and helps to grow technology companies in Maryland.
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