The ubiquity of APIs and cloud solutions have opened up a world of interesting ways for businesses to create a service without having to build every part of it themselves. But they have unleashed something else, too: an increased risk of breaches resulting from data being moved and used in multiple places and in multiple ways. Now, a startup that has built a way to help safeguard against that threat -- using homomorphic encryption -- is announcing funding, a sign of market demand and the opportunity it presents for cybersecurity.
Duality, which builds solutions based on homomorphic encryption -- a technique that encrypts an organization's data in a way that lets it stay encrypted even as the company collaborates with third parties that also process the data -- is today announcing that it has raised $16 million in funding.
The Series A round is being led by Intel Capital, with participation from Hearst Ventures and Team8.
Team8 is the heavyweight Israeli cybersecurity incubator that counts Intel as a strategic partner and itself has an impressive list of backers, including Microsoft, Walmart, Eric Schmidt and Accenture.
Intel is a financial and strategic backer here: duality security startup founded creator homomorphic encryption raises
