MindBridge takes top prize at TiECon pitchfest to address $3.7 billion global fraud epidemic
(See also coverage in the Ottawa Busines journal here)
OTTAWA, Canada – October 30, 2015 – MindBridge the only provider of intelligent solutions for risk professionals wins first place at the TiECon pitchfest. The pitchfest’s first place prize is $25,000 with an estimated $100,000 in additional mentoring services to assist startups to achieve their business goals.
As part of the pitch, Angel told the story of “Joleen”, an accountant who would add her husband to payroll each month and then delete him from the system shortly after. This practice allowed her to steal over $100,000 from the company each year until she was caught. “For the past 10 years I have advocated for better solutions for risk professionals, then I decided to do something about it myself,” said Solon Angel, Founder and Chief Strategic Officer, MindBridge Analytics Inc. “C-level executives are waking up to fraud’s impact on their bottom line whether that’s fines, brand degradation or other. It’s a very different conversation today than it was even a couple of years ago.”.
The win also provides Angel with the opportunity to be a finalist at the Silicon Valley TiECon event which includes a second pitch and interviews with media in attendance. “The prize money certainly will be put to good use however I truly feel that the mentorship and connections are infinitely more valuable,” continued Angel. “In the past 24 hours, we have been able to oversubscribe our seed funding round and the comments I am receiving are validation that the market is ready for some big disruption.”.
About TiECon Canada
TiECon Canada is TiE’s flagship conference for entrepreneurs, SMEs, industry veterans, investors, and other members of the Canadian business community. Organized in partnership with Canadian sister chapters in Toronto and Vancouver, and global TiE chapters in Silicon Valley and Boston, TiECon Canada is the largest event of its kind in the region. It features industry leaders, technology gurus, and investors from different sectors and all spheres of business.
About MindBridge Analytics Inc.
MindBridge Analytics Inc. is a venture-backed FinTech company based in Ottawa, Canada. Through the application of machine learning and artificial intelligence technologies, the MindBridge platform detects anomalous patterns of activities, unintentional errors and intentional misstatements. Using the MindBridge AI Auditor, organizations across multiple industries can minimize financial loss, reduce corporate liability and enhance their professional judgment. For more information, visit www.mindbridge.ai
Name: Dipalli Bhatt
Company: MindBridge Analytics Inc.