American-Israeli cybersecurity startup Duality has raised $4 million for its encrypted data collaboration platform. The round is led by Team8, a venture builder and cybersecurity think tank founded by some of the former leaders of the Israeli Defence Forces' technology and intelligence unit.
The core of Duality's product offering is a technology that allows to open up your data to a third party for analysis without actually opening up any data at all. The startup claims that the data on its SecurePlus platform always remains encrypted, eliminating most of the privacy and security challenges.
The first use case Duality is looking at is genomic analysis. Genomic data is very sensitive but also extremely valuable for medical research, which means that safeguarding it for analysis creates lots of opportunities for researchers. Fintech, automotive, and retail are also among the industries that could benefit from the technology.
“…Duality is now allowing major data aggregators such as the big tech firms, healthcare providers, financial institutions and others to undertake secure collaboration with big data, while protecting the privacy of their customers and users,” said Duality CEO Alon Kaufman.