Data privacy platform Anonos has pulled in $12m in funding to help it drive market adoption for its solutions.
Edison Partners, a growth equity investment firm, led the funding round.
Anonos is designed to empower the compliant use of AI, machine learning and analytics by protecting the rights of individuals while still letting businesses share, combine, and relink data.
Variant Twin leverages pseudonymization to replace personal identifiers such as a person’s name and date of birth, with “de-identifiers” which prevent information being attributed to a person. Privacy protocols are also automatically inserted which stop unauthorized access to information both internally and externally.
With the new proceeds, Anonos is looking to boost market adoption for its privacy rights management solutions.
Anonos co-founder and CEO Gary LaFever said, “Similar to how iTunes and Netflix on behalf of publishers use Digital Rights Management to control use of music and movies, Privacy Rights Management introduces businesses to data protection by design and by default to control the use and sharing of personal data.
“At this pivotal time when policymakers and businesses have an opportunity to establish a shared ethical framework for data privacy, Anonos supplies the missing technological ingredient of digital controls that ensure lawful, ethical and sustainable data use, sharing and combination.”
Edison Partners recently led the $28m funding round of cybersecurity platform NS8. Using behavioural analytics, real-time user scoring and global monitoring, companies can better tackle the threats of fraud.
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