Former HSBC chief administration officer Chuck Teixeira has raised $1.2 million from angel investors for a 'data enablement' software startup.
London-based WCKD RZR promises to help multi-national businesses tackle the problems caused by conflicting data governance policies and authorisation controls in different locations and jurisdictions.
Currently, says the firm, if a business wants to fix its messy data estate by moving to a single cloud or database management system, it usually costs millions of dollars to do so. Then data is often not labelled or can’t be found and is subject to different regulations.
WCKD RZR's Data Watchdog software is designed to help clients find, govern and access their data in each country, in real time, in full compliance with relevant sharing, privacy and governance rules.
The software is installed onto an organisation’s network allowing the data to remain where it was, and begins work in minutes. It spiders and maps all the company’s databases, with proprietary machine learning technology auto-labelling the data so that it can be easily accessed.
Says Teixeira: "WCKD RZR’s Data Watchdog software is true data enablement. It allows multi-national organisations that have disparate and messy data estates to unlock the potential of their data immediately, without having to wait for large, expensive data transformation programs that cost them tens of millions of dollars and many years."