Enabling Secure and Compliant Data Collaboration: Our Series A in Decentriq
Mar 22, 2022|
The Eclipse team is excited to lead Decentriq’s $15M Series A round to accelerate its mission to provide the most secure data clean rooms based on state-of-the-art encryption and privacy-enhancing technologies (PET)
Today, the Eclipse team is thrilled to announce our partnership with Decentriq to accelerate its mission to provide the most secure data clean rooms based on state-of-the-art encryption and privacy-enhancing technologies (PET). We are excited to lead the company’s $15M Series A round in partnership with Atlantic Labs, btov Partners, and Paladin Capital Group.
Decentriq is a Swiss enterprise SaaS platform, which leverages Confidential Computing technology enabled by CPU suppliers and Cloud providers to build the most secure and compliant data clean rooms for multi-party data collaboration. Data is the currency of the new economy, but it is currently cumbersome for multiple Enterprises to collaborate using their proprietary datasets given security, compliance, regulatory and privacy concerns. Decentriq’s technology ensures that the data owner remains in full control of their data, which completely preserves data confidentiality and adheres to the strictest privacy regulations, such as GDPR. By allowing multiple Enterprises to securely analyze datasets previously not possible, Decentriq is unlocking a whole new dimension of data collaboration and helping companies to accelerate time-to-market for new products and derive new business insights for top-line revenue growth.
Eclipse Partner, Kushagra Vaid, was first connected to Max Groth and Stefan Deml, Co-Founders of Decentriq, through former colleagues from Microsoft Azure. Max and Stefan had previously worked at Teralytics where they encountered the multi-party data collaboration challenge when combining proprietary datasets from telco operators and transport companies in order to gain business insights into consumer behaviors — without violating consumer privacy. They recognized there had to be a more efficient way to solve this multi-party data problem and founded Decentriq in 2019 specifically for this purpose by leveraging modern cloud technologies. When we first met Max, we had a great conversation about Confidential Computing technology and how it can enable new market opportunities. It was apparent we were completely aligned on the vision for how to solve these challenges and that there was a great fit between Eclipse’s mission to transform legacy industries and Decentriq’s mission to modernize Data Clean Rooms. We were also impressed by the traction Decentriq’s product had already gained across banking, pharmaceuticals, insurance, defense, and retail and it was clear the company was poised to become category-defining.
Since raising its seed round in 2020, Decentriq has made tremendous progress and was a founding member of the Confidential Computing Consortium alongside Microsoft, Google, Meta, and Intel. Decentriq has also quickly added customers both in the private and public sector, such as the Swiss Army and Mobiliar. Pharmaceutical companies are utilizing Decentriq 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 to perform benchmarking on themselves. By enabling pharmaceutical companies to work with sensitive patient trial data from multiple hospitals, Decentriq is helping to unlock new insights for drug research without access or exposure to raw patient data. Through the Decentriq platform, Insurance companies are leveraging proprietary supply chain insights from their customers and factoring that into accurate risk-adjusted premiums, which benefits those customers. Meanwhile, advertisers and publishers are leveraging Decentriq to combine their first-party data to build and activate precise audiences in a cookie-less world.
Decentriq is unlocking data sharing and delivering instant collaboration at a global scale with no third party access to sensitive customer data — a feat that was impossible until now. The Eclipse team believes Decentriq will deliver on their aspirations to be the de-facto neutral choice for global multi-party data analysis and ultimately become the “Switzerland of Data Collaboration.”
Congratulations to Max, Stefan, and the entire Decentriq team!
Read more about Decentriq’s Series A news from VentureBeat
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