Intel Capital leads $16m investment in Duality Technologies

Duality Technologies founders  / Photo: PR

The company's platform addresses today’s most pressing data privacy challenges arising from enterprises’ need to collaborate.

Israeli privacy-enhancing data science solutions provider Duality Technologies today announced it has raised $16 million in a Series A financing round led by Intel Capital and with the participation of Hearst Ventures and continued support from existing investor Team8.

The Duality SecurePlus platform is the first market-ready solution addressing today’s most pressing data privacy challenges arising from enterprises’ need to collaborate on sensitive data by applying Machine Learning and AI-based analytics. Duality’s platform enables multiple parties to maximize data utility by collaborating on sensitive data while preserving privacy, in compliance with growing data privacy regulations.

Duality was co-founded by CEO Dr. Alon Kaufman, CTO Dr. Kurt Rohloff, chairperson Rina Shainski, chief scientist Prof. Shafi Goldwasser, and chief cryptographer Prof. Vinod Vaikuntanathan.

Dr. Kaufman said, "AI and Machine Learning are transforming countless industries, but they have also created new privacy challenges that regulation alone can’t solve. We are excited by the investment of Intel Capital, Hearst Ventures and Team8 in Duality, and look forward to collaborating with these industry leaders in delivering innovative Privacy-Enhanced solutions to the market. Our mission is to reconcile data utility and privacy while unlocking a whole new world of secure collaborative business opportunities for our customers."

"The ability to secure data during analysis is a critical component in the future computation stack, specifically in the context of AI. Intel Capital has been following the space closely, and we are excited to see secure computing and homomorphic encryption becoming practical and broadly applicable," said Anthony Lin, Vice President & Senior Managing Director of Intel Capital. "We believe privacy-preservation in AI and ML represents a huge market need, and we’re investing in Duality because of its unique founding team and world-leading expertise in both advanced cryptography and data science." Investment Director, Roi Bar-Kat, led the investment for Intel Capital.

This funding comes in the wake of the recent collaboration between Duality and Intel: In June 2018, the two announced a collaborative effort to explore the security challenges of AI workloads using homomorphic encryption on Intel platforms with the goal of minimizing data exposure. In August 2019, Intel, Duality and other tech leaders convened the AI community for a homomorphic encryption (HE) standards workshop to accelerate market adoption of the technology across industries.

Published by Globes, Israel business news - en.globes.co.il - on October 30, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Duality Technologies founders  / Photo: PR
Duality Technologies founders / Photo: PR
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