Secure Data Collaboration Firm Duality Technologies Raises $30 Million
Privacy-focused data collaboration solutions provider Duality Technologies today announced that it has raised $30 million in Series B funding. To date, the company has received a total of $49 million.
Duality Technologies says the funds will help it expand go-to-market operations, strengthen its position on the privacy-preserving segment and Privacy Enhancing Technologies (PETs), and to advance partnerships with technology vendors.
The funding round was led by LG Technology Ventures. Existing investors Hearst Ventures, Intel Capital, and Team8, along with Euclidean Capital and NAventures, the corporate venture capital arm of the National Bank of Canada, also contributed.
Through its Duality SecurePlus suite of data collaboration solutions, Duality seeks to help organizations ensure the safety of sensitive data during collaboration, while also complying with data privacy regulations.
Duality says its solutions can protect sensitive data such as personally identifiable information (PII) even when organizations work together on protected data and AI models and run computations in the cloud or their partners’ environments.
“Duality’s collaborative, secure computing solutions offer a way out of this impasse by making data usable while keeping it protected. Companies and organizations recognize that embracing privacy-preserving technology is becoming a core business need, giving them a competitive edge while protecting their sensitive data assets,” Dr. Alon Kaufman, CEO and co-founder of Duality Technologies, said.
Founded in 2016 by world-renowned cryptographers and expert data scientists, Duality is headquartered in Newark, New Jersey.