The Growing Challenge of Data Protection
The average cost of a data breach has increased 10% to $4.88 million globally in 2024.This persistent trend reflects ongoing challenges in the data security landscape:
- Organizations take 258 days on average to identify and contain data breaches
- Personal Identifiable Information (PII) comprises 48% of breached data, enabling identity theft and fraud
- Regulatory frameworks like India’s DPDP Act impose substantial non-compliance penalties (up to Rs 250 Cr under DPDP Act 2023)
Solution – Data Safeguard
Founded in 2022, Data Safeguard is a data privacy company providing comprehensive solutions to protect sensitive data and enable enterprises to comply with the DPDP Act. The company operates as a multi-channel SaaS provider powered by its proprietary Cognoscible Computing Engine (CCE) originating from the Latin word cognoscere, meaning “to know” or “to understand” signifying the engine’s ability to intelligently recognize and process data, making it “knowable” or comprehensible for regulatory, security, and analytical purposes.
As illustrated in the platform architecture diagram above, the CCE serves as the foundation for all Data Safeguard products – ID-MASK and ID-REDACT for data privacy compliance, and ID-AML and ID-FRAUD for synthetic fraud prevention providing solutions for enterprises across various sectors including Finance, Insurance, Healthcare, Retail, Government, and Technology Providers.
Leadership Team
Sudhir Sahu (Founder and CEO): MBA Industrial Management. 25+ years of experience in Revenue Management, Enterprise Sales and Business Strategy across leadership roles in organizations including Vaco, The Ascent Services Group, and Geosoft Infotek.
In a market defined by increasing data protection challenges and regulatory requirements, Data Safeguard provides enterprises with the tools necessary to safeguard sensitive information, ensure compliance, and prevent fraud across structured and unstructured data environments.
Product Suite
The product portfolio diagram demonstrates how Data Safeguard addresses two critical enterprise needs:
Data Privacy Management
ID-REDACT and ID-Mask: Solutions for redacting and masking PII and sensitive data across various data formats. These products support compliance with regulations through modules including:
- Consent Management
- Privacy Impact Assessment
- Compliance Audit
- Data Subject Access Request
Synthetic Fraud Prevention
ID-AML and ID-Fraud: Advanced tools that detect synthetic fraud by identifying “Frankenstein profiles” that combine real and fake data elements. These solutions help organizations mitigate potential fraud losses in real-time.
Technical Differentiation
Data Safeguard establishes its market position through several key differentiators:
- Proprietary Technology: The patented CCE delivers industry-leading accuracy in data discovery and processing
- Comprehensive Compliance Framework: Seamless integration with regulatory requirements under DPDP through rule-based automation
- Multi-type Data Processing: Support for unstructured and semi-structured data in addition to structured data
- Strategic Ecosystem Integration: Partnerships with leading software providers
Globally, several companies are operating in the data privacy software segment, with Data Safeguard distinguishing itself through its dual focus on privacy protection and fraud prevention.
Market Opportunity
The global data privacy and security spending is expected to reach $ 12 Bn by 2029. Privacy spending has seen a notable increase, with expenditures averaging $ 2.7 Mn in 2022.
In India, the average privacy spending by businesses reached $ 3.1 Mn in 2022. This surge in privacy spending is primarily driven by several key factors, including:
- The DPDP Act (2023) which now applies to all businesses handling Personally Identifiable Information (PII)
- The rapid increase in the number of IoT devices, which is expected to reach 29.42 billion by 2030
- A growing number of sophisticated cyber-attacks targeting personal and sensitive data
- The high costs associated with data breaches
Synthetic Identity Fraud is expected to generate at least $23 billion in losses by 2030. In 2023, 69% of general consumers have been victims of an identity crime more than once, which is projected to increase with the increased utilization for PII data.
Given the growing requirement for data privacy and fraud management solutions, Data Safeguard provides a comprehensive range of products addressing these challenges, positioning the company for expansion in this evolving sector.
Auxano Perspective
Data Safeguard addresses a critical market need, with global data breach costs rising to $4.88 million in 2024 and enterprise spending on data privacy projected to reach $12 billion by 2029. The company’s AI-powered Cognoscible Computing Engine delivers data privacy and synthetic fraud prevention solutions across flexible deployment options, helping enterprises comply with the DPDP Act while preventing financial losses from synthetic fraud.
The founder demonstrates strategic market insight by targeting industries with high regulatory exposure including finance, healthcare, and e-commerce while focusing on emerging markets experiencing increased adoption of privacy regulations. Their partnerships with leading enterprise software providers validate their approach and create competitive advantages in an increasingly regulated data environment.
Author
Team Auxano