Barclays Backs Israeli AI Data Security Startup, Velotix

Israeli AI data security startup, Velotix, announced a strategic investment from Barclays Bank and Capri Ventures. Velotix aims to further innovate in automated policy management and secure data access, setting new benchmarks for privacy compliance and data integrity.

Security platforms are rapidly growing in importance for data-driven organizations. Gartner predicts that by 2025, 30% of enterprises will adopt broad-spectrum data security platforms (bDSP), up from less than 10% in 2021, due to increasing demands for more secure data and enhanced product capabilities. Businesses need to leverage data for insights and marketing while managing the risks of data breaches and regulatory compliance.

Velotix addresses these challenges by enabling companies to streamline secure data access through an AI-driven policy engine that automatically manages and updates data protection policies. This approach allows organizations to maximize data usage while minimizing security risks.

Earlier this year, the startup secured a partnership with a Tier One international bank and was recognized as a Representative Vendor in the 2024 Gartner Market Guide for Data Security Platforms.

Founded in 2020 by Uriel Ekelstein and Dr. Adi Hod, the Velotix emerged from stealth in 2022 with a $10 million Seed round led by Capri Ventures.