OPAQUE, a San Francisco, California-based confidential AI platform, has raised $24 million in Series B funding at a $300 million valuation.
Investors
The round was led by Walden Catalyst, with participation from returning investors Intel Capital, Race Capital, Storm Ventures, Thomvest, and new investor Advanced Technology Research Council (ATRC).
Walden Catalyst is a San Francisco-based venture capital firm specializing in early-stage deep tech investments across the U.S., Europe, and Israel. With a $550 million inaugural fund, the firm backs visionary founders in sectors such as AI, semiconductors, cloud infrastructure, and digital biology.
OPAQUE Use of Funds
The company will use the funds to accelerate delivery of its Confidential AI platform, expand into post-quantum security and confidential AI training, and support deployments in sovereign cloud environments.
About OPAQUE
Led by CEO Aaron Fulkerson, OPAQUE is a confidential AI company building a trust layer for enterprise AI. Its confidential AI platform delivers verifiable runtime governance backed by cryptographic proof that data, models, and agent actions remain private, governed, and compliant with approved policies throughout every AI workflow. Headquartered in San Francisco, California, OPAQUE’s customers and partners include ServiceNow, Anthropic, Encore Capital, Accenture, and leaders across high tech, financial services, insurance, and healthcare sectors.
Funding Details
Company: OPAQUE Systems, Inc.
Raised: $24.0M
Round: Series B
Funding Date: February 2026
Lead Investor: Walden Catalyst
Additional Investors: Intel Capital, Race Capital, Storm Ventures, Thomvest, Advanced Technology Research Council (ATRC)
Company Website: https://www.opaque.co/
Software Category: Confidential AI & Enterprise AI Security Platform
Source: https://www.prnewswire.com/news-releases/opaque-raises-24m-series-b-at-300m-valuation-to-advance-confidential-ai-for-the-enterprise-302685635.html