Decentriq, a Zürich, Switzerland-based enterprise SaaS platform providing data clean rooms based on confidential computing, announced that it raised $15 million in Series A funding.
The round was led by Eclipse Ventures, with participation from existing investors Atlantic Labs, btov Partners, and Paladin Capital Group.
Decentriq will use the investment to further accelerate the development and commercialization of its data clean rooms based on AI, state-of-the-art encryption, and privacy-enhancing technologies (PET).
The funding will also be used to expand the types of analytical tools available on the platform, such as Python, R, and machine learning, as well as PET, features like synthetic data and differential privacy, capture growing demand for secure data collaboration in new and existing markets, and grow its team across key markets in Europe, the Middle East, Asia, and the US.
Company: dq technologies AG
Raised: $15.0M
Round: Series A
Funding Month: March 2022
Lead Investors: Eclipse Ventures
Additional Investors: Atlantic Labs, btov Partners, and Paladin Capital Group
Company Website: https://www.decentriq.com/
Software Category: Enterprise SaaS platform
About the Company: Decentriq was founded on the belief that data collaboration shouldn’t be complicated. Decentriq is an enterprise SaaS platform providing data clean rooms and a founding member of the Confidential Computing Consortium including Microsoft, Google, Facebook, and Intel. Since 2021, Decentriq has been supporting pharmaceutical companies to access hospital data in Switzerland and Belgium in a secure and GDPR compliant manner, while 20 of the largest pharmaceutical companies in the world have been collaborating in a Decentriq data clean room to perform benchmarking on themselves. Decentriq's headquarter is located in Zürich, Switzerland, with teams across Europe and the US.
Source: https://www.helpnetsecurity.com/2022/03/23/decentriq-funding/