Real-Time Data Security Pioneer Borneo Raises $15+ million in Series A

Singapore-based real-time data security and privacy observability platform Borneo has raised $15.5 million in its Series A round. Vulcan Capital led this round of funding with participation from Prosus Ventures, Lytical Ventures, and existing investors Wavemaker Partners.

The company has raised $18 million in total funding to date. The company is planning to use the fresh funding to invest in its technology platform and meet the growing customer demand.

Tommy Teo, Head of Southeast Asia at Vulcan Capital, said, "Borneo’s best-in-breed solutions urgently address today’s data visibility, security, and proactive privacy management problems at speed and at scale. Borneo’s customers – both practitioners and business leaders alike – value the visibility and confidence that informed decision making and proactive remediation can bring to their data security postures and platforms."

Borneo was founded in 2019 and provides a developer-first suite of tools to identify high-risk and sensitive personally identifiable information (PII) through ML techniques and open APIs. Borneo's approach integrates with the existing tools and workflows, which allows companies to achieve privacy compliance by building a solid data security foundation. The company has a team with over 100 years of combined experience.

 

 

 

HGS to Divest its Healthcare Services Biz

Hinduja Global Solutions Limited has announced that it will be divesting its healthcare services business. The healthcare services biz will be bought by Baring Private Equity Asia for a reported $1,200 million. Baring Private Equity Asia is one of the largest private alternative investment firms in Asia.

The HSG healthcare services delivers solutions that support payer, providers, laboratories, durable medical equipment firms and pharmaceutical companies. These services cover the entire lifecycle of a payer organization, including member acquisition, enrollment & billing, benefit set-up, claims adjudication, provider credentialing & data management, payment integrity & financial recovery, grievance & appeals, provider & member engagement, prior authorizations, case management and population health management, and the various functions in the revenue cycle of a provider organization.

“Our Healthcare Services business has steadily grown over the years. We reached a stage where we could recommend to promoter to divest stake in this business to unlock value for all HGS stakeholders. We will use the generated funds to strategically invest for the future growth of the organization. We see a long-term value and benefit to HGS in doing so. HGS will continue to focus on aggressively expanding its CES and Digital businesses in line with our goal to transform itself into a "digitally-enabled customer experience (CX) company", said Partha DeSarkar, Global CEO, HGS.

With over 20,000 employees on its payroll across India, Philippines, the US, and Jamaica, the company recorded $400 million in revenues in FY2021. In a statement, HGS said that post the completion of transaction, HGS will transfer all client contracts, employees, and assets, including infrastructure related to the Healthcare Services business.