Team8 a cyber-security thinktank and company builder, recently announced that they have launched an $85 million fund for startups. Team8 is backed by Walmart, M-12, Microsoft’s venture-capital arm, Softbank, Scotiabank, Barclays and others to build a cyber-security and data companies over the course of the next five years. Duality Technologies, an Israeli startup focused on data encryption and data privacy announced that they have raised $4 million funding led by Team8.
Duality was co-founded in 2016 by Turning Award winner professor Shafi Goldwasser and other three academic scholars. Duality was founded as the founder made a transition from academic research to market-ready technology to resolve data encryption challenges.
Duality technology-enabled provides an advanced analysis of the data. The main function duality would perform is analyzing the data that is encrypted without exposing the raw data during any point in analytics. This reduces the security risk as many organizations are trying to maintain data security and also involve an analytics firm.
Organizations can share their encrypted data with duality and the firm can perform the required analytics without decrypting the data. The privacy concern that has been on the rise for the last few years and analytics firms are also regarded as the potential for leakage. Duality will allow data aggregators to take a secured approach towards data security protecting the customers and users.