Duality Technologies, a Newark-based infosec startup, has grown $ 30 million In Series B funding to expand privacy-enhanced data collaboration solutions.
The financing round was led by LG Technology Ventures in Euclidean Capital, with the participation of NAventures, Intel Capital, Hearst Ventures and Team8 in venture capital of the National Bank of Canada. The total funding raised by the new capital startup is $ 44 million. Taejoon Park, CEO of LG Technology Ventures, said of the company’s involvement:
“As privacy challenges arise in our data-driven world, Duality has established itself as a market leader in a rapidly evolving privacy technology space. There is a huge demand for collaborative and security computing techniques – including privacy protection and AI and Machine Learning analytics – and so will businesses as they seek to unlock data treasure chests while remaining on the right side of increasingly complex privacy rules. Duality is perfectly positioned to drive privacy-enhanced computing applications in many industries in this rapid change, and I’m pleased to see the company expand its highly innovative solutions to even more areas. “
Startup was created in 2016 by cryptographers and data scientists around the world with the goal of creating a new standard for data protection to protect privacy. Since then, the startup has been developing the Duality SecurePlus suite, which allows organizations to collaborate using sensitive data while also complying with data privacy regulations. Dr. Alon Kaufman, CEO and one of the founders of Duality Technologies, said about this mission:
“The amount of data companies have multiplied exponentially, however, the breadth and depth of information they can extract has not spread at the same rate, mainly due to data privacy regulations and data silos caused by business barriers. Duality’s collaboration and IT security solutions they provide a way to get out, while keeping the data safe and useful. “
With the latest reports that have found that privacy-improving computing is one of the biggest technology trends this year, and Duality Technologies is preparing to become one of the industry leaders.