Duality Technologies Raises $30 Million in Latest Funding Round, Boosts Data Privacy Protection

Duality Technologies, a provider of privacy-enhanced data collaboration solutions, announced that it has raised a $30 million in a Series B funding round, enabling the company to expand its go-to-market operations, advance its partnerships with leading technology vendors, and further cement its product and technology leadership in the fields of privacy-preserving machine learning and Privacy Enhancing Technologies (PETs). This brings the company’s total funding to $49 million.

The round was led by LG Technology Ventures with participation from Euclidean Capital and the National Bank of Canada's corporate venture capital arm NAventures, along with existing investors Intel Capital, Hearst Ventures, and Team8.

Founded by world-renowned cryptographers and data scientists, Duality has harnessed its foremost expertise in Homomorphic Encryption (HE) and data science to develop the Duality SecurePlus suite of secure data collaboration applications, addressing the specific business needs of organizations which seek to collaborate with their ecosystem on sensitive data while protecting their business interests and complying with data privacy regulations.

Duality SecurePlus applications enable organizations to collaborate on protected data and AI models, by keeping them encrypted during computation.

The collaborating parties can securely run computations in any environment—whether their own, their partners’, or on a third-party cloud—without exposing sensitive data, such as Personally Identifiable Information (PII).

By facilitating collaborative analysis of decentralized sensitive data, Duality enables enterprises to overcome challenges posed by growing data localization and privacy regulations and join forces across jurisdictions to leverage sensitive internal data for collaboration in business, science and security in today’s increasingly data-driven global economy.

“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,” said Dr. Alon Kaufman, CEO and co-founder, Duality Technologies. “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. We are excited by this round of financing led by LG Technology Ventures and are empowered by our new and existing investors’ shared vision of the transformational impact of Privacy-Enhancing Technologies on the future of data collaboration and AI.”

Duality is also collaborating with Intel to optimize HE-based privacy-enhanced data science and AI applications.

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