Our portfolio company, Decentriq, announced a $15 million Series A funding round led by Eclipse Ventures, with participation from existing investors such as ourselves, Atlantic Labs, and Paladin Capital Group.
Powered by encryption in-use technology called confidential computing, Decentriq’s data clean rooms ensure that no one but the data owner can access their raw data uploaded onto the platform – not other participants, Decentriq nor the cloud provider. This ensures that the data owner remains in full control of their data and thus completely preserving data privacy and adhering to the strictest regulatory standards such as GDPR.
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 is also enabling advertisers and publishers to combine their first-party data to build and activate precise audiences in a cookie-less world. Further, Decentriq’s data clean rooms have been enabling banks to update their mailing list with up-to-date addresses found in the postal companies’ database.
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).