Cavelo provides a data discovery platform that enables organizations to discover, classify, and manage sensitive data using machine learning algorithms in compliance with regulations such as GDPR and CCPA. Cavelo’s cloud-based platform continuously scans and identifies sensitive data from sources including cloud applications and endpoint devices such as servers, laptops, and mobile devices. As of February 2021, Cavelo reported clients from the manufacturing, utilities, and municipalities sectors. The company is a small team of seven with plans to increase headcount to 15 by the fourth quarter of 2021. While the platform is currently geared towards small and medium-size businesses, the company plans to eventually move on to larger enterprises.
In February 2021, the company raised CAD 1.3 million (USD 1.0 million) in pre-seed funding, led by the MaRS Investment Accelerator Fund along with participation from several other angel investors. The company expects to use the funding to accelerate product development and grow its team.
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