Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Compliance

Private Data Sharing Firm TripleBlind Raises $24 Million in Series A Funding

Private data sharing solutions provider TripleBlind on Monday announced raising $24 million in an oversubscribed Series A funding round, which brings the total raised by the company to more than $32 million.

Private data sharing solutions provider TripleBlind on Monday announced raising $24 million in an oversubscribed Series A funding round, which brings the total raised by the company to more than $32 million.

The latest funding round was led by General Catalyst, with participation from Mayo Clinic, AVG Basecamp Fund, Accenture Ventures, Clocktower Technology Ventures, Dolby Family Ventures, Flyover Capital, KCRise Fund, NextGen Venture Partners, and Wavemaker Three-Sixty Health.

The Kansas City, Missouri-based company provides a private data sharing solution designed to enable enterprises to collaborate with others around sensitive information without privacy risks and compliance violation concerns.

TripleBlind advertises its solution as ideal for healthcare organizations and financial institutions. Customers register through TripleBlind’s toolset the data they want to share, but the data is never exposed or moved — not even TripleBlind has access to it.

“[The data] remains protected and is fully one-way encrypted prior to being connected with the data user,” TripleBlind explained. “The data owner retains control of the dataset’s ‘discoverability’ – whether other consumers can find general information about the dataset and request permission for its use. Through the toolset, data owners can form agreements with data users who wish to privately use the secure data. Likewise, the toolset facilitates agreements for the use of algorithms to train algorithms or produce inferences. All assets remain protected and encrypted throughout the process, with no decryption possible.”

General Catalyst believes the solution can help healthcare organizations access data more quickly, conduct faster clinical trials, and bring drugs to market faster, all while ensuring privacy and complying with regulatory requirements.

Related: Data Security Startup Code-X Emerges From Stealth With $5 Million in Funding

Related: Data Privacy Management Firm DataGrail Raises $30 Million

Related: Data Privacy Firm Privitar Raises $80 Million in Series C Funding Round

Written By

Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

Click to comment

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Audits

Out of the 335 public recommendations on a comprehensive cybersecurity strategy made since 2010, 190 were not implemented by federal agencies as of December...

Management & Strategy

Microsoft making a multiyear, multibillion dollar investment in the artificial intelligence startup OpenAI, maker of ChatGPT and other tools.

Funding/M&A

Thoma Bravo will spend $1.3 billion to acquire Canadian software firm Magnet Forensics, expanding a push into the lucrative cybersecurity business.

Cybersecurity Funding

Forward Networks, a company that provides network security and reliability solutions, has raised $50 million from several investors.

Application Security

Many developers and security people admit to having experienced a breach effected through compromised API credentials.

Funding/M&A

Twenty-one cybersecurity-related M&A deals were announced in December 2022.

Management & Strategy

Tens of cybersecurity companies have announced cutting staff over the past year, in some cases significant portions of their global workforce.