Bitfount, a London, UK-based federated analytics, and machine learning platform announced that it raised a $5 million seed round as it continues to accelerate its product development and expand its engineering and design teams with key hires. 

The round was led by Ahren and Speedinvest, to reflect the growing global demand for machine learning and analytics in every industry.

Company: Bitfount Ltd.

Raised: $5.0M

Round: Seed Round

Funding Month: May 2022

Lead Investors: Ahren and Speedinvest

Additional Investors: 

Company Website: https://www.bitfount.com/

Software Category: Federated Analytics and Machine Learning

About the Company: Founded by Blaise Thomson and Naaman Tammuz, Bitfount is a federated privacy-preserving platform for AI and data collaboration. The Bitfount platform makes it possible for data scientists, researchers, business analysts, and data custodians to share, access, and collaborate on datasets without disclosing any of the sensitive, underlying data. Bitfount's mission is to give data collaboration superpowers to any organization working with sensitive datasets. Bitfount's federated analytics and machine learning platform send algorithms to data instead of the other way around, so that data scientists, researchers, and information governance teams can focus on insights instead of bureaucracy. Bitfount is based in London, UK.    

Source: https://www.ahreninnovationcapital.com/uk-based-bitfount-raises-5m-seed-to-streamline-collaboration-between-organisations-working-with-sensitive-datasets/