Funding

UBS Next Participates in $20 Million Series B of Israel Compliance Tech Startup

Shield, a compliance tech platform based in Tel Aviv, announced its $20 million Series B financing round, which was led by Macquarie Capital and joined by UBS through its venture and innovation unit UBS Next, Mindset Ventures and OurCrowd.

This funding follows its $15 million Series A round in early 2022. With more than 100 employees, Shield will use funds from its Series B financing to further grow in existing markets and expand into new ones, including the US. The firm is also opening its second R&D facility in Lisbon, Portugal, and will also use the capital to propel its leadership in innovation, as it continues the development of its leading financial compliance platform.

To increase efficiency and help meet regulatory compliance standards, leading global financial institutions have deployed Shield to monitor and manage their electronic communication data.

Shiran Weitzman

“We’re thrilled to be able to begin work with UBS on multiple levels – as a client and now as an investor in our latest funding round,”

said Shiran Weitzman, CEO and Co-founder of Shield.

“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.”

Macquarie Capital, Shield’s largest investor and the lead investor for the Series B financing round, Mindset Ventures and OurCrowd are all joining the latest round after initial investment in Shield’s Series A. Shield has now raised a total of $35 million in 2022.

This article first appeared on fintechnews.ae