CommBank's venture scaling arm x15Ventures has invested in Seattle-based data management startup Gable, which emerged as the winner from a field of fintechs participating in its latest Xccelerate24 programme.
Founded in Seattle in 2023, Gable helps developers ensure quality and governance of important data as it flows through an organisation.
The platform uses AI to identify where data is produced from within an organisation and monitor how it flows across services and databases. This helps flag sensitive data like personally identifiable information (PII) and trigger alerts within an environment when compliance or quality standards are at risk.
X15 chief technology officer Kelvin Lim says: “We were impressed with how Gable’s approach could help shift important work - for example, tracking changes to critical data, identifying PII or sensitive data, and setting compliance policies - into the hands of our engineers. This gives them the confidence that any code changes made won’t inadvertently break things, helping to prevent complex data problems downstream and freeing up testing, governance and compliance teams to focus on what they do best.
"With numerous ventures in our portfolio, and lots of different ways they generate data, it's important we know exactly where that data flows. Gable’s tech could enable us to do that in a unique and efficient way - and we’re really excited to explore what's possible.”
Gable was one of nearly 100 startups to apply for the latest Xccelerate program, which focused on tech ‘reimagining the customer and employee experience with data and AI’. It was the first time the programme was open to international as well as homegrown founders.
As a result of winning Xccelerate, Gable will now commence a project with x15 to detect code changes across its isolated technology environment, while exploring a number of more expansive opportunities across CommBank.
Gable CEO Chad Sanderson, says: “Even to be exploring potential partnerships with CommBank - a recognised leader in financial services innovation and AI maturity - feels like a vote of confidence in our mission. We think we’re building something special here, and I look forward to spending more time in Australia over the coming months to explore what Gable, x15 and CommBank could achieve together.”
As a result of the 2024 program, three other finalists - Cleric, Dragonfly Thinking and Eidiex - are also actively exploring partnership opportunities with CommBank.