Symbolic AI platform Velotix raises $10 million

Velotix has closed a $10 million seed round led by Capri Ventures. Founded in 2020, Velotix has built a symbolic AI platform with a focus on the financial, insurance and healthcare markets as initial customers. Its platform continuously creates, updates and maintains organizational data protection policies based on exceptions, regulations, and user behavior.

“Unlocking the power of your company’s data to better serve your clients is a challenge every Enterprise IT team faces. Providing the right people with the right access to the right data at the right time is the goal. However, this must be done in a way that both provides that secure access and does so guided by the data access policies and controls that your company operates under – and those policies can change rapidly based on the jurisdictions where you operate. Automated policy management and implementation is the path to achieve this, and that is where Velotix delivers. Adi and the team bring the depth of expertise in this space that positions Velotix to be your data access and governance partner with a solution that tackles this challenge.” – David Reilly, Velotix’s Advisory Board Member, who is the former CIO at both Bank of America and Morgan Stanley and prior to that was a Managing Director at Credit Suisse, Goldman Sachs, and Merrill Lynch.

“We created a unique platform that enables enterprises not only to streamline access to data, but also to place themselves in their respective fields as industry leaders as a result of the predictions, analytics, and insights they are able to gain from a data democratization approach.” – CEO and Co-Founder Dr. Adi Hod.

“Upon meeting Velotix and their talented leadership team, it was very clear to us that they are building the best platform in the market for secure and timely data access so that teams can access one platform to discover, secure and access data. Some of the leading financial services institutions in the world are already partnering with Velotix and the opportunity ahead is tremendous.” – Alex Pinchev, Capri Ventures Founder.