Israeli Shield raises €20 million in investment round

  • ECO News
  • 6 December 2022

The funding round led by Macquarie Capital and involved the participation of UBS through its innovation and venture capital firm, UBS Next, Mindset Ventures and OurCrowd.

The workplace intelligence platform has raised $20 million in Series B funding round led by Macquarie Capital and involved the participation of UBS through its innovation and venture capital firm, UBS Next, Mindset Ventures and OurCrowd. Shield’s hub in Portugal is expected to end the year with 20 employees.

“Shield’s rapid growth, and the needs and challenges currently facing the financial sector, have driven this new funding. The money will benefit the research and development centre in Portugal, which, together with Israel, will continue to develop our platform for our projects and clients worldwide, continuing to ensure the innovation and quality we are renowned for,” says Nuno Hortênsio, country manager of Shield Portugal, in a statement.

The amount raised will strengthen Shield’s internationalisation strategy for new markets, namely the United States of America, as well as ensure the investment and progress of the research and development centre created this year in Portugal.

“We are excited to start working with UBS on multiple levels – as a customer and now as an investor in our latest funding round,” says Shiran Weitzman, Shield’s CEO and co-founder. “This is further proof that there is an immediate market need for a modern, proactive solution that powers surveillance across communication channels, and that Shield is well positioned to meet that need.”

The UBS investment was joined by Macquarie Capital, Shield’s largest investor and the lead investor in the Series B funding round, Mindset Ventures and OurCrowd. In total, Shield has already raised a total of $35 million by 2022.

“We strongly believe in the value that Shield can bring to financial organizations and we are pleased to continue to support them as we deliver real benefits to a growing range of clients” says David Standen of Macquarie Capital. “Shield’s impressive growth over the past year has been driven by the need for a cutting-edge platform that can be rapidly integrated, and our latest investment confirms our belief in the company’s plans for further market expansion,” he adds.