Privacy as a Service Engineering Firm Gretel.ai Raises $ 50 Million in Series B

  • Gretel.ai recently raised a $ 50 million Series B funding round led by Anthos Capital. These are the details.

Gretel.ai recently raised a $ 50 million Series B funding round led by Anthos Capital, with participation from Section 32 and existing investors Greylock and Moonshots Capital. This funding round brings the total funding raised to date to $ 65.5 million.

This new round of funding accelerates Gretel’s work on its privacy-as-a-service engineering platform and suite of tools for developers. And the funding will fuel Gretel’s continued innovation with high-quality synthetic data and its expansion into new use cases related to data privacy.

In order to survive and scale, businesses must put in place strong data privacy measures and the cost to do so has been prohibitive. And Big Tech can afford to hire dedicated privacy engineers to directly anonymize critical data assets while developers around the world have so far been waiting weeks, if not months, for compliance approvals to gain access to data. similar. And Gretel’s tools enable all developers and data practitioners to implement high-quality, intelligent data privacy measures, so they can innovate quickly and securely with data – at a fraction of the time. , cost and risk to the privacy of their users and their brand.

Gretel’s platform enables developers to synthesize, transform and classify data with a suite of easy-to-use tools and APIs that aim to eliminate data privacy concerns through secure data sharing. And by applying advanced AI and ML techniques, Gretel generates the most accurate, private, and high-quality synthetic data of any product in its class, and with significant time savings for engineers.

With this new funding, Gretel will continue to advance the AI ​​capabilities of its platform to support customer use cases in the life sciences, finance, gaming and technology industries. . For example, healthcare tech companies seek to enable information sharing and monetize data while protecting patient privacy and minimizing bias that could be inadvertently learned by algorithms trained on sets of data. shared data.

KEY QUOTES:

“This significant Series B investment is a direct reflection of Gretel’s ambitious vision, rapid growth, and the strength of its position in the AI ​​industry as a standard bearer of tools that enable privacy from the start. design. Gretel’s ease of use, the scalability of its services, and the superior precision and quality of its synthetic data are essential solutions to simplify the extremely complex legal and technical hurdles businesses face due to privacy concerns. data.

– Emily White, President of Anthos Capital

“Gretel gives data teams working in any framework or language the tools they need to integrate privacy by design into their existing workflows and data pipelines, dramatically simplifying this process. Time and time again, I hear software engineers and data scientists talk about the value that Gretel offers. Its developer-centric, technology-independent approach to solving privacy concerns is incredibly valuable to all industries. “

– Sridhar Ramaswamy, partner at Greylock

“The motivation behind the last two decades of investment in cloud native tools and development has been to fuel high speed development in ML / AI, IoT and all applications, which requires access to huge volumes of data related to ethics, privacy rules and public trust. At Gretel, we develop tools that enable privacy by design, which in turn provides quick and easy access to data that drives innovation with privacy by embedding it into the fabric of applications. This is Gretel’s mission.

– Ali Golshan, co-founder and CEO of Gretel.ai


Source link

Veronica J. Snell

Leave a Reply

Your email address will not be published. Required fields are marked *