Swiss platform rakes in $15 million to enable secure data clean rooms

Swiss enterprise SaaS platform Decentriq has raised a $15 million funding. The Series A round was led by Eclipse Ventures, with participation from existing investors Atlantic Labs, btov Partners, and Paladin Capital Group. 

The additional investment will also be used to expand the types of analytical tools available on the platform, such as Python, R and machine learning, as well as privacy-enhancing technologies (PET) features like synthetic data and differential privacy, capture growing demand for secure data collaboration in new and existing markets, and grow its team across key markets in Europe, the Middle East, Asia and the U.S. This latest investment comes just over a year after a $3.8 million seed funding round in November 2020.

The platform’s data clean rooms ensure that only 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.

Maximilian Groth, CEO, Decentriq said: “From improving patient outcomes to leveraging first-party data for precise audience activation, we strongly believe our platform has the potential to revolutionise almost every industry and empower many more companies to unlock new value from their sensitive data with the highest levels of data privacy and security guarantees.”

Since 2021, it 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. 

“By leveraging Confidential Computing technology, Decentriq is building product for cloud-native ‘Data Clean Rooms’ and in doing so, unlocking a whole new dimension of data collaboration between enterprises, without sacrificing privacy and regulatory requirements,” said Kushagra Vaid, partner, Eclipse Ventures.