Opaque Systems, the pioneers of collaborative analytics and AI for confidential computing, announced it has raised $22 million in Series A funding, bringing the company’s total financing to $31.6 million. The round was led by Walden Catalyst Partners, with participation from new investors, Storm Ventures and Thomvest Ventures, as well as all existing investors, Intel Capital, Race Capital, The House Fund, and FactoryHQ. Gartner predicts that by 2025, over 50% of organizations will adopt privacy-enhancing computation to process sensitive data and conduct multi-party analytics. Opaque will use the new capital to serve the accelerating market demand for collaborative analytics and AI in confidential computing.
Also Read: Synopsys and Arm Strengthen Partnership to Advance Next-Gen Mobile SoCs
Today, more than $300 billion of the world’s most valuable data remains untapped due to the lack of a secure processing environment. With the emergence of confidential computing, organizations can now secure sensitive data in Trusted Execution Environments (TEEs) in the cloud. However, enabling multiple parties to access, share, analyze and run AI/ML on encrypted data in TEEs has been the biggest roadblock to unlocking the $54B confidential computing opportunity.
The Opaque Collaborative Analytics and AI Platform is the first analytics platform purpose-built for confidential computing. It uniquely enables data to be securely shared and analyzed by multiple parties while maintaining complete confidentiality and protecting data end-to-end. With Opaque, for the first time, organizations can unlock high-value, previously untapped use cases across industries. For instance, financial services organizations are collaborating to better identify fraud and prevent money laundering. In the healthcare industry, multi-party collaboration on sensitive patient data is advancing drug discovery and disease detection.
“Our new investors, Walden Catalyst, Storm Ventures and Thomvest Ventures, and existing investors see the enormous market opportunity in performing collaborative analytics and AI on confidential data,” said Raluca Ada Popa, president and co-founder of Opaque Systems. “This financing will accelerate R&D and hiring as we cement Opaque’s position as the authority in multi-party analytics and AI for confidential computing. Global organizations are in desperate need of a secure solution to collaboratively analyze their confidential data and we are well positioned to meet this growing demand.”