Duality Raises $16 Million to Secure Data With Homomorphic Encryption
Duality secures $16 million in a Series A round led by Intel Capital to expand its homomorphic encryption platform. The technology keeps data fully encrypted even when third parties process it.
Duality raises $16 million in a Series A funding round led by Intel Capital to tackle the growing security risks associated with cloud services and APIs. The startup builds cybersecurity solutions based on homomorphic encryption, a specialized technique that keeps an organization's data completely encrypted even while third parties process it. This approach directly addresses the increased threat of data breaches that occurs when information moves across multiple systems.
Hearst Ventures and Team8 also participate in the funding round, bringing valuable strategic partnerships to the table. Intel serves as both a financial and strategic backer, building on a previous collaboration with Duality to secure artificial intelligence workloads using this advanced encryption on Intel platforms. The startup already works with major clients in financial markets, healthcare, and insurance, though strict non-disclosure agreements keep most customer names confidential.
The U.K. Cyber Defense Alliance, a cross-bank security consortium, stands out as one publicly named customer using Duality's technology. Hearst Ventures highlights the critical need for this type of protection, noting that sensitive data generation grows constantly across diverse industries. Duality focuses on turning this complex cryptographic technology into practical, real-world applications that allow companies to extract valuable insights without exposing their underlying data.