Privacy-focused data collaboration platform Duality raises $30m
Privacy-focused tech start-up Duality Technologies has raised $30 million in a Series B funding round, bringing its total funding to date up to $49 million.
The round was led by LG Technology Ventures with participation from Euclidean Capital and the National Bank of Canada’s corporate VC arm NAventures, along with existing investors Intel Capital, Hearst Ventures, and Team8.
Founded by cryptographers and data scientists, Duality offers a suite of data collaboration applications and aims to help financial services, healthcare organisations, and governments working with sensitive data comply with data privacy regulations.
The firm says it will use the new cash to expand its operations, strengthen partnerships with technology vendors, and enhance its privacy-preserving machine learning solutions.
Duality CEO and co-founder Alon Kaufman says: “The amount of data businesses possess has been multiplying exponentially, yet the breadth and depth of insights they can extract from it have not expanded at the same rate, mainly due to data silos caused by growing data privacy regulations and business barriers.
“Companies and organisations recognise that embracing privacy-preserving technology is becoming a core business need, giving them a competitive edge while protecting their sensitive data assets.”