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Tuesday, March 02, 2021

TripleBlind raises $8.2 million Encrypted Data Science Platform

 Most interesting Application here, note interaction of compliance.

TripleBlind raises $8.2 million for its Encrypted Data Science platform

Kyle Wiggers  @Kyle_L_Wiggers,  March 1, 2021 6:00 AM

TripleBlind, a Kansas City, Missouri-based startup developing a platform that enables companies to train models on encrypted data, today announced it has raised $8.2 million. The company says the funds will be put toward R&D as it looks to expand the international reach of its products.

In industries like financial services and health care, privacy regulations like the U.S. Health Insurance Portability and Accountability Act (HIPAA) prevent companies from sharing data. As a result, 73% of enterprise data goes unanalyzed, according to a recent analysis.

Earlier in his career, TripleBlind CEO Riddhiman Das was the product architect at EyeVerify, where he helped commercialize a software-only biometric method for verifying the identity of mobile users. EyeVerify was bought by payments giant Ant Financial, but it ran into privacy issues and wasn’t able to collect eye image data to improve its algorithms. Shortly afterward, cofounder Greg Storm and Das left Ant to devote themselves to creating TripleBlind to focus on market-driven and regulatory concerns with regard to data storage and auditability. 

TripleBlind claims to have developed “next-generation” cryptology that allows companies to provide and use sensitive data and algorithms in an encrypted space without compromising privacy. The startup aims to launch a marketplace that will let research institutes, businesses, and engineers collaborate around both sensitive data and algorithms.  ... ' 

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