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        Cybersecurity firm Fortanix and identity management company Versasec have partnered to help organizations protect cryptographic processes and master keys used in hardware security modules.
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        The integration combines Fortanix's key management capabilities with Versasec's vSEC:CMS credential management system to enable secure migration of master keys from third-party hardware security modules (HSMs), focusing on regulated industries like banking, healthcare, and government sectors.
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        The partnership aims to protect master keys used in crypto operations, securely manage credential keys, and ensure compliance with security standards while preventing unauthorized access and tampering.
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    <a href="https://www.fortanix.com/company/pr/2024/11/fortanix-and-versasec-partner-to-enhance-protection-of-master-keys-used-in-crypto-operations">
      Press release: Fortanix
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    <a href="https://versasec.com/news/fortanix-versasec-integration/">
      Press release: Versasec
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Digital Privacy Tools

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<p>Cybersecurity company Fortanix and identity management firm Versasec have formed a partnership to increase protection of cryptographic processes and master keys utilized in hardware security modules. They aim to merge Fortanix's expertise in key management with Versasec's vSEC:CMS credential management system. This will enable the safe transfer of master keys from third-party hardware security module providers, with a focus on regulated sectors, such as banking, healthcare, and government.</p>
<p>The collaboration has the objective of securing master keys used in crypto operations, managing credential keys securely, and ensuring compliance with security standards. Additionally, it attempts to prevent unauthorized access and potential tampering.</p>

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Fortanix partners with Versasec to protect cryptographic master keys and credentials

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 <p>Concentric AI, a company specializing in AI-based data security, has successfully raised USD 45 million in a Series B funding round. This was led by Top Tier Capital Partners and HarbourVest Partners, with contributions also coming from CyberFuture, Ballistic Ventures, Engineering Capital, Clear Ventures, and Citi Ventures. The latest round brings the total funding that Concentric AI has received to over USD 67 million.</p>
 <p>With this new investment, the company plans to enhance its go-to-market strategies and speed up innovation in the field of data security. This should strengthen Concentric AI’s position in the market for AI-driven Data Security Governance.</p>
 <p>In terms of services, Concentric AI offers a Data Security Governance Platform, with the goal of protecting the sensitive information of organisations. This platform provides automated features for data discovery, classification, risk monitoring, and remediation. It can be utilized across various cloud and on-premises environments. Among the key services are the identification and protection of numerous forms of sensitive information such as personally identifiable information (PII), personal health information (PHI), payment card information (PCI), and intellectual property (IP).</p>
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Concentric AI raises USD 45 million in Series B funding from Top Tier Capital Partners and HarbourVest Partners

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 <p>MineOS has updated its data governance and privacy platform with the release of Data Subject Request (DSR) Management 2.0. This upgrade introduces the no-code Infinite Integration Builder, which enables organizations to customize integrations with various backend systems, platforms, and Software as a Service (SaaS) applications.</p>
 <p>The new tool provides a no-code solution for organizations to streamline the integration with their data ecosystems. Notable improvements include enhanced automation features, customized rights flow based on geography, an improved ticket flow page, and a revamped approach to API connections.</p>
 <p>According to MineOS, this update simplifies the deployment and maintenance of automated DSR handling, making the process more efficient for businesses. The company also claims quick implementation of the platform within a matter of days, rendering expensive professional services and long implementation periods unnecessary.</p>
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MineOS launches DSR management 2.0

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<p>Netskope, a network and Edge security vendor, has recently acquired Dasera, a company specializing in data security automation and governance. This merger enhances Netskope's One platform by integrating Dasera’s Data Security and Protection Management (DSPM) features.</p>
 
<p>Dasera’s state-of-the-art DSPM technology aids in the administration and protection of data across numerous environments. Upon integrating Dasera's offerings, Netskope now facilitates customers with enhanced control over the location, type, storage posture, and accessibility of their data. Additionally, it allows for real-time enforcement of policies.</p>

<p>Further, Netskope One offers a unified platform for data protection, spanning across different scenarios including web, SaaS, PaaS, IaaS, email, endpoint, and on-premises situations. The platform is devised to handle both structured and unstructured data types, enabling organizations to simplify their security strategies, to reduce complexities in their security infrastructure, and to boost their overall data security posture.</p>

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Netskope acquires Dasera to enhance DSPM capabilities and streamline unified data protection

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 <p>Relyance AI, an AI-driven data governance platform, has secured USD 32.1 million in a Series B funding round, led by Thomvest Ventures alongside M12, Cheyenne Ventures, Menlo Ventures, and Unusual Ventures.</p>
 <p>This investment will fund operational scaling and satisfy the increasing demand for AI-based solutions in enterprises. It will also assist in developing the Relyance AI platform further and expanding its marketing strategies.</p>
 <p>The company has seen a 30% increase in its enterprise customer base in the first half of this year. By 2024, it predicts a two-fold increase in its annual recurring revenue. Notable clients include Coinbase, Fivetran, Verkada, Snowflake, Logitech, Plaid, and Notion.</p>
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Relyance AI raises USD 32.1 million in Series B funding to scale operations

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 <p>Data protection firm Harmonic Security has recently secured a fund of USD 17.5 million in a Series A round. This round was dominated by Next47 and included contributions from Ten Eleven Ventures. Since its initiation in October 2023, Harmonic has raised an impressive amount of over USD 26 million in total.</p>
 <p>Harmonic plans to use this funding to enhance its engineering and market outreach efforts. It also aims to expedite the progress in its goal of redefining the data protection sector. </p>
 <p>Harmonic Security, established in 2023, dedicates itself to providing data protection solutions that cater to the challenges faced in GenAI. The firm provides a platform that uses pre-trained language models to pinpoint and categorize sensitive data. Through this, the company aims to lessen the risks related to data exposure utilizing AI tools. This approach is different from the traditional data loss prevention methods which majorly depend on intricate rules and significant manual input. Harmonic's strategy is focused more on user engagement via "nudging" strategies. These strategies help direct employees towards secure practices while they interact with AI applications.</p>
 
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Harmonic Security raises USD 17.5 million in Series A funding to accelerate zero-touch data protection

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 <p>23andMe, the genetics and ancestry company, has accepted a settlement amounting to USD 30 million following a data breach in 2023. This breach exposed the data of approximately 6.9 million customers, affecting half of the user base.</p>
 <p>The proposed settlement, which awaits court approval, obligates 23andMe to offer up to USD 10,000 to customers who experienced hardships due to the breach. According to state genetic privacy laws, those living in Alaska, California, Illinois, and Oregon may qualify for extra payments.</p>
 <p>In addition to monetary compensation, the settlement includes three years of a security monitoring service, Privacy Shield, for impacted users. For a particular group of users whose personal health information was compromised by the breach, the company will offer USD 100 payments.</p>
 <p>A lawsuit was filed against 23andMe in January 2024, alleging failure to secure user data. The company also faced accusations of not alerting customers belonging to Chinese or Ashkenazi Jewish ancestry that their data was intentionally targeted and disseminated on the dark web.</p>
 
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23andMe agrees to USD 30 million data breach settlement

INCUMBENTS_PRESENT

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 <p>Data privacy and compliance provider, Kiteworks, has acquired advanced data collection company 123FormBuilder. The details of the transaction have not been disclosed. This acquisition is a strategic move by Kiteworks to fortify its position in safeguarding sensitive content across digital communication platforms.</p>
 <p>Kiteworks is intending to incorporate 123FormBuilder's capabilities into its Private Content Network. This integration will provide customers with a comprehensive platform that centralizes the tracking, controlling, and security of sensitive information exchanges.</p>
 <p>Established in 2008 in Romania, 123FormBuilder has been delivering a platform that enables the creation of secure online forms such as registration forms, order forms, surveys, and others. The company's platform offers a no-coding, drag-and-drop mechanism for form creation. It provides various features including conditional logic, electronic signature functionalities, multi-page forms, file uploads, and compatibility with more than 45 tools for automated workflows.</p>
 
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Kiteworks acquires 123FormBuilder for undisclosed sum to enhance secure data collection

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 <p>US facial recognition company Clearview AI has been fined EUR 30.5 million (approx. USD 33.7 million) by the Netherlands' data protection authority, Autoriteit Persoonsgegevens (AP). The fine has been imposed for several violations of the General Data Protection Regulation (GDPR) by the company, including unlawful collection of biometric data and ineffectual response to data access requests. AP's investigation confirms the presence of images of Dutch citizens in Clearview's database.</p>
 <p>In addition to the primary fine, the Dutch authority has prescribed an extra penalty of up to EUR 5.1 million if Clearview continues to disregard GDPR regulations even after the investigation. This could possibly increase the total amount of the fine to EUR 35.6 million (approx. USD 39.3 million) if the company does not correct its violations.</p>
 <p>Clearview AI argues that it doesn't fall under the purview of the GDPR as it neither operates nor has customers in the EU. However, AP stipulates that GDPR has extraterritorial reach.&nbsp;</p>
 <p>In recent years, Clearview AI has accrued GDPR fines amounting to around EUR 100 million (roughly USD 110.4 million) from regional regulatory bodies, but reportedly, none of these have been paid yet. Clearview AI has consistently been unresponsive and has refused to appoint a legal representative in the EU. In response to this, AP is considering additional measures to hold the company accountable, such as making its directors personally liable.</p>
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Dutch regulator fines Clearview AI for GDPR violations

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 <p>The Dutch Data Protection Authority (DPA) has given Uber a fine of 290 million Euros (USD 324 million) due to a violation of EU data protection rules. Uber moved European taxi drivers' personal data to the US without enough safeguards, according to the DPA.</p>
 <p>This activity of data transfers by Uber was seen as a significant violation of the General Data Protection Regulation (GDPR), especially since the EU-US Privacy Shield was invalidated by the EU in 2020.</p>
 
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All Updates

Fortanix partners with Versasec to protect cryptographic master keys and credentials

Concentric AI raises USD 45 million in Series B funding from Top Tier Capital Partners and HarbourVest Partners

MineOS launches DSR management 2.0

Netskope acquires Dasera to enhance DSPM capabilities and streamline unified data protection

Relyance AI raises USD 32.1 million in Series B funding to scale operations

Harmonic Security raises USD 17.5 million in Series A funding to accelerate zero-touch data protection

23andMe agrees to USD 30 million data breach settlement

Kiteworks acquires 123FormBuilder for undisclosed sum to enhance secure data collection

Dutch regulator fines Clearview AI for GDPR violations

Dutch regulator fines Uber for GDPR violations

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Fortanix partners with Versasec to protect cryptographic master keys and credentials

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