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Codified Secures $4 Million in Seed Funding to Modernize Data GovernanceCodified, a Generative AI-powered Data Governance startup, announced today $4M in seed funding. Codified was incubated at Madrona Venture Labs and founded by Yatharth Gupta. This seed round was co-led by Madrona Ventures and Vine Ventures with participation from Soma Capital and angel investors Bob Muglia, JG Chriapurath, and Shireesh Thota. Additionally, Ali Ghodsi, founder and CEO of Databricks, and Arnab Bose, Chief Product Officer, Workforce Identity Cloud at Okta, joined the Codified Advisory Board. As the Generative AI era unfolds, companies will increasingly turn to their critical business data for insights and new products. At the same time, data security and privacy continue to be a primary concern as recent costly examples of critical data leakage or unintended uses have shown. Unfortunately, a lot of data governance work relies on manually intensive processes which is costly and often not in a policy compliance framework. Usually companies exist in two unhappy extremes: critical data is too widely accessible in their organization, and users are frustrated that they can't easily access data needed for their tasks. Founder Yatharth Gupta lived this experience over his career, working with customers on their data platform strategies while he was running product management at data leader SingleStore and building data services at Microsoft for Azure. Codified is developing a first-of-its-kind AI-powered Data Governance platform to address the challenges inherent in protecting data while enabling access for the right people and applications at the right time. Codified enables companies to use natural language to author and implement data governance policies ensuring that access to data is aligned with business intent. Codified is built with complete automation in mind such that once a policy is in place, access is provided seamlessly and quickly without manual intervention. Codified also provides full visibility into data access rights for users, roles and groups. "We are thrilled to launch Codified and pioneer the first-of-its-kind policy-driven Data Governance solution. Customers are spending months implementing Data Governance solutions and this needs to change. With Codified, customers will be able to save time and money while significantly improving their security posture," said Gupta. "Security does not have to be complex to implement and hard to use. By re-imagining the approach from the ground up, we are simplifying the pain associated with protecting the access to data." "Data is widely acknowledged to be an important asset for nearly every company, but managing access to this exponentially growing and critical asset relies on manual processes that are cumbersome, error-prone, and extremely time-consuming to audit. Codified is built for any company wrestling with data governance solutions, offering just-in-time access and protection in alignment with company policies," commented S. Somasegar, managing director, Madrona. "Generative AI has opened the door for people to deal with policies using natural language which is at the core of Codified's approach to solve this problem." This funding will enable Codified to expand its team, accelerate product development, and bring its innovative solution to the market. The company is working with design partners and will launch a product preview to select customers in 2024. About Codified Codified is an AI-native data governance solution enabling companies to use natural language to set, implement and change data security, privacy and access policies.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240227404209/en/ |
