CryptoNumerics, a privacy and data insight platform designed to help firms with HIPAA, GDPR and CCPA compliance, has netted $2.5m in seed funding.
The capital injection was led by 11.2 Capital, with participation also coming from Lux Capital, and Silicon Valley Data Capital.
Toronto-based CryptoNumerics has also released a free downloadable version of its CN-Protect, which helps companies comply with the HIPAA, GDPR and CCPA regulations while maintaining data quality for analytics. By using this, clients can access tools like differential privacy and optimal k-anonymity to reduce the risk of exposing consumer data.
The CN-Protect solution empowers data scientists, privacy officers, and legal teams to quickly define and apply privacy policies. These teams can access quantifiable risk metrics to understand privacy requirements, data quality metrics to understand de-identification on analytics, and the ability to customise rules based on customer needs.
Through AI and machine learning tools, companies can create statistical models without having to relocate their data/
CryptoNumerics co-founder & CEO Monica Holboke said, “Current approaches to de-identify data such as masking, tokenization, and aggregation can leave data unprotected or without analytical value. CN-protect leverages AI and the most advanced anonymization techniques, such as optimal k-Anonymity and Differential Privacy, to protect your data and maintain data utility.
“Our solution is easy to adopt because its available not only as a stand-alone product but also as a plug in to your data science stack.”
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