Global data security and analytics company Inpher has pulled in $10m in its Series A round of funding.
JPMorgan Chase & Co made a strategic investment into the company, while participation also came from Inpher’s existing backers which include Crosslink Capital, Bowery Capital and Polytech Ecosystem Ventures.
New York-based Inpher is a data security and privacy solution which utilises advanced analytics and AI models to encrypt information. The cryptographic Secret Computing® platform ensures data is well-guarded while being processed by ensuring none of the information is exposed, the company claims.
Alongside this, the platform offers privacy-compliant analytics which meet various regulations, including the newly launched GDPR.
This tranche of funding will be used to speed up the company’s growth across global markets and better meet the demand of its customers.
JP Morgan completed the deal to continue its focus on innovating data security and AI innovation.
Samik Chandarana, the head of data analytics for the corporate and investment bank at J.P. Morgan Chase, said, “Advances in data science and cryptography mean that we no longer have to accept the traditional tradeoff between security, privacy and usability when handling data of any kind. Inpher is at the vanguard of this revolution, and the practical applications for this technology are almost endless, not just in financial services.”
Earlier in the year, JP Morgan made a strategic investment into Mosaic Smart Data, picking up a minority stake in the company. Mosaic claims its platform provides sophisticated visualization of market activity in real-time.
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