Privacy engineering firm Gretel.ai has secured $50m from a Series B funding round led by Anthos Capital.
The round also saw participation from Section 32, Moonshots Capital and Greylock. To date, the company has raised a total of $65.5m.
Founded in 2019, California-based Gretel is a privacy engineering toolkit that is used by companies and developers to classify and label, transform and anonymise or create synthetic data to help eliminate data privacy issues through safe data sharing.
The company claims its tools enable all developers and data practitioners to implement intelligent, high-quality data privacy measures, so they are able to quickly and safely innovate with data.
According to Gretel, it intends to use the new funding to accelerate its work on its privacy engineering as a service platform and suite of tools for developers. It will also use the capital to fuel its innovation with high-quality synthetic data and expand into new use cases linked to data privacy.
The firm intends to also advance the AI capabilities of its platform to support customer use cases in life sciences, technology, gaming and the financial industries.
Gretel.ai co-founder and CEO Ali Golshan said, “The drive behind the last two decades of investment in cloud-native and developer tooling has been to power high-velocity development in ML/AI, IoT, and all applications, which requires access to enormous volumes of data that is bound by ethics, privacy regulations, and public trust.
At Gretel, we are building tools that enable privacy by design, which in turn provides fast and easy access to data that fuels innovation with privacy by building it into the fabric of applications. That’s Gretel’s mission.”
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Copyright © 2018 RegTech Analyst