Scout provides a machine learning algorithm that captures the context of data flows and enforces usage rights, ensuring data reliability and security for organizations. By automating the extraction of key information from data usage agreements and tagging datasets with usage rights, Scout enables firms to monetize existing data while maintaining compliance and protecting data integrity.
Funding
$7K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Organizations struggle to understand and enforce data usage rights due to the complexity of data usage agreements and the difficulty in tagging datasets with appropriate restrictions. This leads to compliance risks, missed monetization opportunities, and potential misuse of sensitive data.
Solution
Scout offers a machine-learning-powered platform that automates the extraction of key information from data usage agreements and tags datasets with corresponding usage rights. By connecting to a firm's legal vault, Scout's proprietary natural language processing (NLP) algorithms, trained on contracts annotated by lawyers, can understand agreements and prepare summaries. The platform integrates with existing metadata managers to tag datasets with usage rights, enabling organizations to operate at scale and speed. Scout also identifies commercially-ready data within the firm, unlocking financial value with embedded licenses and terms, and monitors compliance with a 360-degree view of data rights.
Target Audience
Scout's primary customers are data-driven organizations, including enterprises in regulated industries, data providers, and firms seeking to monetize their data assets while maintaining compliance.
Features
- Proprietary ML/NLP algorithm trained on legal contracts to extract key information with 96% accuracy.
- Auto-tagging integrations with metadata managers to connect usage rights to datasets.
- Data Commercial Dashboard to discover and sort commercially-ready data.
- 360 Policy Rights Dashboard to track data rights bought and sold, including renewals and modifications.
- Composite Data Algorithm to combine datasets and generate recommendations for new monetizable assets.
- Watermarking technology to embed immutable signatures in data, deterring unauthorized use and tracing leaks.
- Auto-encryption integration with data warehouses to automate contractual enforcement.
- Operates on metadata attributes without accessing, storing, or hosting the actual data.