Recently, Duality Technologies, a data privacy startup, raised $30M from a funding round led by LG Technology Ventures. The funding round aimed to accelerate the market adoption of their privacy-enhanced data collaboration platform.
This platform allows organizations to keep their data secure while allowing collaboration in a secure, compliant way. This article discusses Duality Technologies’ privacy-enhanced data collaboration platform and how it helps organizations.
Overview of Duality Technologies
Duality Technologies is a data privacy and analytics software provider, founded in 2016 and based in New York City. Within the industry, Duality is known for its pioneering solutions in homomorphic encryption and secure multi-party computation (MPC), which enable privacy-enhanced data collaboration over-the-air. These solutions hide individual users’ input data from other participants while enabling them to run algorithms without ever decrypting it.
Recently, Duality closed a $30 million Series B financing round led by LG Technology Ventures with additional investments from Integral Ad Science (IAS), NTT DOCOMO Ventures, Prescience Investment Group and previous investors as part of the development of its Secure Plus Platform. This Platform includes disclosure control technology that helps to ensure compliance with global privacy laws such as the CCPA or GDPR when processing sensitive personal data during collaborative projects.
In partnership with leading cloud providers like Microsoft Azure or Amazon Web Services (AWS) and based on Duality’s System Ready Security offering, the SecurePlus platform enables solution providers to rapidly deploy trusted innovative applications across regulated industries such as healthcare, financial services or similar fields – in a safe, secure way that meets regulatory compliances obligations. It leverages homomorphic encryption techniques to provide strong security for collaborative projects executed over multiple computers with restricted access rights. In addition, it allows each participant to keep their input confidential and gives system administrators full control over who can access what information stored on their servers before any model training or inference execution process .
Duality Technologies Raises $30M Led by LG Technology Ventures to Accelerate Market Adoption of Privacy-Enhanced Data Collaboration
On June 23, 2020, Duality Technologies announced that it had closed a $30 million Series A funding round led by LG Technology Ventures. This news placed Duality at the forefront of securing the promise of privacy-enhanced data collaboration for organizations of all sizes worldwide.
The Series A funding round included participants from both strategic and technological investors including: NEC Corporation, an investment tower of NEC Group; Emerald Development Managers (EDM), the venture arm of Emerald Technology Ventures; and Hong Kong’s Dah Sing Financial Holdings Limited (DES) – a leading financial services group in Asia with extensive experience in venture investments across Hong Kong, Mainland China and Southeast Asia.
This series A financing round brings significant resources to Duality’s mission to make data collaboration safe and secure worldwide. This capital will accelerate product development, go-to-market initiatives such as sales & marketing efforts, alliances with global IT partners, and customer rollouts across Fortune 1000 enterprises. This money marks another step that Duality is taking towards broadening the adoption of global privacy-enhanced data collaboration for organizations.
Duality’s Privacy-Enhanced Data Collaboration Platform
Duality Technologies, a privacy-enhanced data collaboration platform, has recently raised $30M in a series B funding round led by LG Technology Ventures. The new funds will allow Duality to accelerate the adoption of its privacy-enhanced data collaboration platform.
This cutting-edge technology enables organizations to securely share data while managing access rights and preserving user anonymity, offering a revolutionary approach to data collaboration.
Let’s look deeper into what makes Duality’s platform so unique.
How Duality’s Platform Works
Duality Technologies offers a secure, low-cost platform for data collaboration that enables organizations to securely collaborate on data without ever sending it. This is achieved through a patented technology which utilizes Homomorphic Encryption (HE), which enables computation to be performed on encrypted values without ever decrypting them.
As a result, organizations using Duality’s platform can work collaboratively on their data without exposing sensitive information. In addition, the Homomorphic Encryption algorithms enable users to securely use sensitive data such as financial and health records, while preserving privacy and complying with regulations such as GDPR, HIPAA and CCPA.
The platform is powered by LG Technology Ventures’ proprietary privacy-enhanced computing engine, which provides an additional layer of security for protecting personal data. In addition, Duality’s easy-to-use web interface allows users to quickly upload datasets into their environment and begin collaborating securely in no time. It also supports popular enterprise applications like Microsoft Excel and PowerBI, making it easy for organizations of all sizes to participate in collaborative analytics efforts on sensitive data.
Duality is designed with scalability in mind; it allows multiple users from various teams and locations to securely access the same project simultaneously – ensuring only authorized personnel can see the underlying dataset. Additionally, Duality Technologies’ approach ensures compliance worldwide – allowing multiple disparate global teams to securely collaborate while adhering to local regulation requirements regarding privacy and security of personal information.
Benefits of Duality’s Platform
Duality Technologies is at the forefront of innovating privacy-enhanced data collaboration solutions, allowing organizations to collaborate on data without sacrificing privacy. With the recent $30M investment led by LG Technology Ventures, Duality Technologies is set to revolutionize how organizations approach data sharing.
Duality’s platform offers various benefits for organizations looking to securely collaborate on sensitive data while ensuring privacy and intellectual property protection. The platform enables organizations to instantly share digital assets securely with confidentiality wherever needed. These assets may include confidential information like customer information, financial documents, and healthcare records. In addition, duality enables users to quickly and easily access real-time updates no matter where they are located or how they are connected.
Additionally, its secure collaboration environment eliminates potential threats posed by external parties thanks to its zero-trust security structure that blocks malicious actors from accessing shared data inadvertently made available on the internet or other public networks. Data is end-to-end encrypted so shared files remain secure as users delete redundant copies after every transaction to permanently verify records and trustworthiness among participants. This also protects user information from leaks caused by misplaced or stolen devices. Its Layer2 encryption protocol enables secure device authorization, further enhancing user protection from unauthorized access attempts from third-party actors outside the secure network environment.
Data sharing within Duality’s Privacy Enhanced Data Collaboration Platform provides organizations with enhanced transparency and easier compliance with numerous industry regulatory standards including GDPR, HIPAA and CCPA across multiple markets worldwide for increased safety of user data and improved business efficiency overall.
Market Adoption of Duality’s Platform
Duality Technologies, who raised $30M from LG Technology Ventures, aims to accelerate the market adoption of its privacy-enhanced data collaboration platform.
Their goal is to enable collaboration with sensitive data while ensuring privacy and security.
This article will discuss the potential market impact of Duality’s platform and its features.
Key Partnerships and Customers
The privacy-enhanced data collaboration platform developed by Duality Technologies has been leveraged to create several key partnerships and customer engagements. These include large enterprises such as Airbus, Honeywell, Johnson & Johnson and Nestlé; major technology companies such as IBM and Microsoft; a research consortium including the Universities of Oxford, Stanford and Wisconsin-Madison; and military applications such as operating air defense systems in Europe. Further validation of the success of Duality’s platform came with a milestone funding round led by LG Technology Ventures which amounted to more than $30 million.
Duality is built on its pioneering SecurePlus framework for data collaboration with trusted partners. It allows parties to securely analyze data without ever revealing it to the other collaboration group members. With this framework, organizations can design shared analytics models that can be used for making more decision insights, as well as identify threats that have traditionally remained hidden – for example in military applications where air defense systems are being operated in partnership with multiple countries with each country safeguarding its key data elements from any third party interference.
Furthermore, according to duality CEO David Mayerich “Unlike existing methods of information exchange which provide limited means to authenticate collaborative analytics models or limited ways to prevent outsiders from gaining access” SecurePlus provides unprecedented granularity – allowing customers to precisely control who can see what portions of the data, while also eliminating manual errors due to human factors like miscommunication or confusion over individual roles within a project. This provides integrity and scalability for collaborative analytics projects involving multiple partners or stakeholders who want robust guarantees that their most valuable assets will remain secure. At the same time, they gain access to potentially valuable insights from these analyses.
Expansion of Duality’s Platform
Duality Technologies is accelerating the adoption of privacy-enhanced data collaboration with its recent announcement that it has raised $30 million in series B funding. Led by LG Technology Ventures and participation from existing investors GV, Amplify Partners, and Resolute Ventures, the financing will support the acceleration of product innovation and customer growth.
Established in 2016, Duality’s Private Compute Platform (PCP) provides secure data transfer and computation for industry-specific needs such as healthcare, life sciences, and financial services. The PCP enables quantifiable trust between entities throughout distributed networks, assuring that sophisticated analytics or machine learning can be performed without ever exposing raw data to any compute platform. Duality also delivers a secure layer for decentralized application development focused on privacy-protecting solutions such as identity/authentication, payments, settlements/contracts/transactions – all without compromising user data.
The collaboration between LG Technology Ventures and Duality represents a strategic investment by LG to leverage its groundbreaking 5G network buildout to deliver secure enterprise solutions across enterprise customers globally. The company believes that the combination of speed, scale, and robust security primitives with 5G networks provides an unparalleled opportunity to secure distributed enterprise businesses seeking assured trust within digital ecosystems.
Moreover, their partnership will allow Duality technologies to be adopted across diverse industries including healthcare IT/IoT enablement in fields like remote patient monitoring systems (RPMS), telecommunication infrastructure support on sensitive customer premises equipment (CPE), smart energy manage home automation systems based on demand response (DR) protocols at scale.
With this latest round of funding Duality Technologies is solidifying its foothold as an industry leader in secure computational solutions for data sharing between companies from different sectors with each specific need for controlled access to confidential information assets or performance sensitive mission critical applications which require strong trust boundaries yet capable performing better than their otherwise vulnerable counterparts which don’t use any security measures at all.
As major enterprises committed even more actively towards proliferation of secure cloud computing Fabric paradigm in companies small medium or large; duality leading the way towards enablement of trusted computationally enabled decisions making backed by secured cryptographic asset management business logics requires even more attention during this times due uncertain regulatory environment post disclosure scandals related personal assets leakage security incidents over last few years shattering industries confidence on protection from unknown adversaries targeting unprotected corporate backend systems.
Therefore having a compliant industry leading provider like Duality fulfilling customers requirements is striking a adequate balance between clients protected interests & advance service provider capabilities backed by rich technology portfolio providing assured compliance adherence along transparent term of services agreements & pass through wide ranging technology supporting mechanisms enabling swift turnaround time for customer enquiries associated upgrades & system administration skills often left unanswered lack generic specification documents readily made available API lines have become recently matured offerings within limited risk appetite associated dealing digital service providers maintain valuable publicly deployed business reports.
Conclusion
Duality Technologies’ trusted platform enables secure, privacy-enhanced collaboration between data owners and service providers, who can transact fully on-premise, over public clouds or hybrid setups. This allows users to: control their data, protect intellectual property (IP) by designing custom de-identification or anonymization rules; leverage best-in-class security and advanced encryption algorithms; and receive incentives, while ensuring the highest legal compliance standards.
The company has developed a unique technology architecture helping institutions from regulated industries like healthcare, finance and retail break down silos by safely sharing insights across these domains. With its distributed ledger protocol layer for trust assurance, a quantum keys manager for security operations, and a versatile artificial intelligence (AI)-as-a-service (AaaS) platform for data masking and model training on protected data sets—Duality offers an unrivaled foundation for data science collaborations enabling significantly faster time to market when commercializing new products and services or conducting large scale research studies.
As part of their recent $30M funding round led by LG Technology Ventures with Shinhan Investment Corporation (SHINHAN INVE) as one of the strategic investors, Duality plans to further develop its enterprise platform dedicated to providing safe access to sensitive information with industry leading privacy protections. Ultimately making it easier for companies to collaborate on AI enabled initiatives while protecting their users’ privacy using viable solutions for the post GDPR world.
Future Prospects for Duality Technologies
As organizations increasingly recognize the value of data privacy and look for innovative solutions, Duality Technologies aims to continue building on its success. The recent round of funding will allow Duality to increase their technology teams, expand partnerships with leading cloud organizations, and grow their product offering. In addition, this additional capital will enable the company to support larger-scale deployments in sectors where data protection is paramount such as healthcare and financial services.
The acceleration in enterprise-level adoption has elevated the need for robust data collaboration platforms that provide secure end-to-end encryption and enable partners across organizations to access private datasets without compromising data confidentiality. Duality Technologies has quickly established itself as one of the leading providers of such solutions with customers already reaping the benefits across multiple industries.
In addition, Duality aims to continue leveraging its patented technologies including secure multiparty computation (MPC) and homomorphic encryption (HE)—two core components that make it possible for several untrusted parties to collaboratively analyze confidential data without any single point being able to access all parts simultaneously or extract more information from the dataset than necessary. By application programming interfaces (APIs) standardizing private sharing efforts, many more companies can now benefit from enabling confidential collaborative analytics.
By continuing their robust research initiatives and partnerships with prominent companies, Duality believes its solutions can further enhance user experience for those that require secure storage services for proprietary insights or offshore datasets—removing all friction associated with security risks that occur during transaction processing or complex analytics computations on encrypted datasets at scale.
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