Karachi's NED University Alum's AI Startup Named "Most Innovative" at RSA Conference

Securiti.ai has been named "Most Innovative Startup" at RSA Conference in San Francisco, according to media reports. It has been founded by Rehan Jalil, a serial Silicon Valley entrepreneur of Pakistani origin who graduated from NED University located in Karachi. Jalil's startup is taking advantage of the growing global data privacy market being fueled by new regulations like European Union's GDPR and California's CCPA.

In a statement issued after winning the RSA award, Jalil said: “Privacy is a basic human right, and companies want to honor individual rights of privacy and data protection. Privacy compliance and operations are only getting more complex for businesses around the world, and we’re humbled that the judges recognized our vision for AI-powered PrivacyOps and data protection.”

L to  R: Shahjahan Chaudhry, Jahan Ara, Riaz Haq, Rehan Jalil

Securiti.ai, a startup that recently raised $50 million in series B funding, is using artificial intelligence to help companies comply with customer data privacy regulations like EU's GDPR and California's CCPA. The startup has raised a total of $81 million in two rounds since its inception in 2019. Securiti.ai creates digital personas for each individual and finds copies of data shared across systems or with third-party vendors or partners to help companies comply with right-to-be-forgotten laws.

Companies using securiti's software begin by defining their data sources, then send out a bot that gathers customer data across all of the data sources they have defined. Securiti supports links to more than 250 common modern and legacy data sources out of the box. Once the bot grabs the data and creates a central record, humans come in to review the results and make any adjustments and final decisions on how to handle a data request from the customer.

Rehan Jalil is a successful serial entrepreneur. Elastica, his last startup in cloud security space, was acquired by Blue Coat Systems for $280 million. Prior to that, Jalil he founded Wichorus and sold it to Tellabs for $165 million.

Karachi's NED University has produced many successful Silicon Valley entrepreneurs. Raghib HusainNaveed SherwaniSafwan Shah, Rehan Jalil and Khalid Raza just to name a few.


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Comments

Unknown said…
Nice blog Mr. Haq. I recently started my own blog, its still in its infancy. I aim to write about Digital and Social Impact on the Economics and Finance of Pakistan. I see your blog posts as inspiration. I look forward to more bloggers writing about Pakistan. GoodLuck.

Zaibul Nisa
Riaz Haq said…

Rehan Jalil's startup named among 25 Machine Learning startups to watch in 2021:


https://www.forbes.com/sites/louiscolumbus/2021/01/10/top-25-machine-learning-startups-to-watch-in-2021-based-on-crunchbase/?sh=1dab08504038

SECURITI.ai – One of the most innovative startups in cybersecurity, combining AI and ML to secure sensitive data in multi-cloud and mixed platform environments, SECURITI.ai is a machine learning company to watch in 2021, especially if you are interested in cybersecurity. Their AI-powered platform and systems enable organizations to discover potential breach risk areas across multi-cloud, SaaS and on-premise environments, protect it and automate all private systems, networks and infrastructure functions.


There are a record number of 9,977 machine learning startups and companies in Crunchbase today, an 8.2% increase over the 9,216 startups listed in 2020 and a 14.6% increase over the 8,705 listed in 2019.
Artificial Intelligence (A.I.) and machine learning (ML)-related companies received a record $27.6 billion in funding in 2020, according to Crunchbase.
Of those A.I. and machine learning startups receiving funding since January 1, 2020, 62% are seed rounds, 31% early-stage venture rounds and 6.7% late-stage venture capital-funded rounds.
A.I. and machine learning startups’ median funding round was $4.4 million and the average was $29.8 million in 2020, according to Crunchbase.
Throughout 2020, venture capital firms continued expanding into new global markets, with London, New York, Tel Aviv, Toronto, Boston, Seattle and Singapore startups receiving increased funding. Out of the 79 most popular A.I. & ML startup locations, 15 are in the San Francisco Bay Area, making that region home to 19% of startups who received funding in the last year.

Israel’s Tel Aviv region has 37 startups who received venture funding over the last year, including those launched in Herzliya, a region of the city known for its robust startup and entrepreneurial culture. Please see the Roundup Of Machine Learning Forecasts And Market Estimates, 2020 for additional market research on A.I. and machine learning.
Riaz Haq said…
Securiti.ai raises $50 million to streamline data security and compliance

https://venturebeat.com/2020/01/22/securiti-ai-raises-50-million-to-streamline-data-security-and-compliance/

Securiti.ai is taking on the growing cybersecurity market — projected to be worth $300 billion by 2024 — with its security and compliance process automation platform. After emerging from stealth last August with $31 million in funding, Securiti.ai today announced that it has secured $50 million in a series B round led by General Catalyst, with participation from Mayfield. This brings the San Jose, California-based startup’s total raised to $81 million.

President and CEO Rehan Jalil — who founded the company in 2019 with a team hailing from Symantec, Blue Coat, Elastica, and Cisco — said the capital will lay the groundwork for a freemium data subject request (DSR) fulfillment product and a self-service portal that will streamline onboarding of privacy compliance solutions. Jalil added that this will enable Securiti.ai to scale its reach by expanding into Latin American and Asia-Pacific markets just as new privacy regulations — such as Brazil’s General Law for the Protection of Personal Data (LGPD) and Australia’s Consumer Data Right (CDR) — go into effect.

Securiti.ai also announced that three new executives will join its management team, following the growth of its workforce from 130 people to just over 185. Matt Gilbo, Eric Andrews, and John Cunningham have been appointed vice president of sales, vice president of marketing, and vice president of the Asia-Pacific division, respectively.

“[There are] a dozen state-level privacy regulations in the works, and we look forward to scaling our team and expanding our product capabilities to ensure businesses stay prepared as new regulations go into effect,” said Jalil in a recent statement. “We look forward to making privacy compliance simple, automated, and cost-effective for our customers.”

In 2009, Jalil sold network equipment maker Wichorus for $165 million, and he headed Symantec’s cloud security division after his company Blue Coat was acquired for $4.7 billion, following a merger with his previous startup, Elastica. During his tenure at Symantec, he led the company’s fastest-growing division, with triple-digit growth over seven quarters.

It was around this time that he got the idea for Privaci, Securiti.ai’s debut product. Jalil describes it as a “PrivacyOps” solution that combines best practices with cross-functional collaboration, automation, and orchestration.

To this end, Privaci features a number of configurable modules aimed at operationalizing data management and compliance. A personal data owner identifier taps AI to discover personal info (and its owners) from “hundreds” of structured and unstructured sources, while a data subject request automator and portal help fulfill and collect requests by compiling systems and data-containing objects into a report for review and approval.

Those components join third- and first-party privacy assessment models that serve as cross-organizational systems of record. A complementary third-party privacy module provides independent ratings of enterprises to determine privacy risk based on publicly available information about their data collection and handling practices. And a consent lifecycle manager records consent from various points within an organization and centralizes the files in a single unified, searchable place.

It’s a lot to keep straight, but fortunately there’s a robotic assistant dubbed Auti to walk users through the ins and outs. Auti can parse questions about various aspects of an organization’s privacy compliance in plain language, in addition to handling questions about sensitive data, personal information risks, and more. Moreover, it’s able to assist in tasks like DSR fulfillment, and it works in conjunction with a dashboard for multi-channel team collaboration designed to prevent breaches resulting from shared sensitive data.

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