Anonos, a provider of technology that resolves the conflict between data use and protection with accuracy, has raised $50m in funding.
The financing was backed by the company’s intellectual property (IP) portfolio, facilitated by Aon and led by GT Investment Partners.
The company said it will use the growth funding to scale customer success and expand partnerships, sales and marketing for its Data Embassy software platform.
The Data Embassy software platform combines patented statutory pseudonymization, synthetic data and other privacy-enhancing computation techniques that make it easy for organisations to control the level of identifiable data that they process.
Anonos said streamlined approvals and workflows mean more data can be approved faster for more use cases with lower risk, while also ensuring the highest level of compliance with the General Data Protection Regulation (GDPR), Schrems II and other global data privacy and security requirements.
This additional capital brings Anonos’ total funding to $70m, including $20m in prior funding led by Edison Partners.
Gary LaFever, co-CEO and general counsel of Anonos, said, “Data-driven enterprises haven’t been able to use their data assets to their fullest advantage because of privacy and security restrictions. Other vendors have attempted to resolve this issue, but we believe Anonos’ 10 years of R&D on Data Embassy is game-changing for organizations that depend on accessible yet compliant and uninterrupted data supply chains.
“The technology’s 26 granted international patents and more than 70 additional patent assets serve as the backbone of this financing that takes us to a new level of business execution.”
Ted Myerson, co-CEO and president of Anonos, added, “With the new funding, Anonos will increase awareness of our unique position within the market and highlight our capabilities to ensure the success of our growing customer base by accelerating their speed to insight.”
Codenotary, which offers tamper-proof, immutable data protection, recently secured an additional $6m in funding, extending its Series B which closed on $12.5m in January.
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