Anonos, provider of technology that resolves the conflict between data use and protection, announced it has raised $50 million in growth financing, enabling the company to scale customer success and expand partnerships, sales, and marketing for its Data Embassy software platform that powers secure data processing in untrusted environments with cleartext accuracy and speed for faster insights to achieve enterprise goals.
“Data Embassy is the only technology that eliminates the tradeoff between data protection and data utility,” said Ted Myerson, co-CEO and president of Anonos. “The significant value of our IP and its ability to solve such critical global data issues allowed us to work with Aon and Ghost Tree to secure growth financing. 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.”
The financing round was backed by its intellectual property (IP) portfolio, facilitated by Aon and led by GT Investment Partners (Ghost Tree Partners). This additional growth capital brings Anonos’ total funding to $70 million, including $20 million in prior funding led by Edison Partners.
Data Embassy combines patented statutory pseudonymization, synthetic data, and other state-of-the-art privacy-enhancing computation techniques that make it easy for organizations to control the level of identifiable data that they process.
Streamlined approvals and workflows mean more data can be approved faster for more use cases with lower risk—all while ensuring the highest level of compliance with the General Data Protection Regulation (GDPR), Schrems II, and other global data privacy and security requirements.
“Data-driven enterprises haven’t been able to use their data assets to their fullest advantage because of privacy and security restrictions,” said Gary LaFever, co-CEO and general counsel of Anonos. “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.”
Data Embassy creates Variant Twins: source data that has been transformed into new, statutorily pseudonymized and 100% accurate data assets authorized for specific use cases.
Because Variant Twins are embedded with multi-level data privacy and security controls that are technologically enforced, they can travel anywhere. Controlled relinking to the original data accelerates speed to insights for innovation, competitive differentiation, and operational efficiency among other benefits, but that process can only occur with the addition of other data held separately by the data controller or an authorized party.
For more information about this news, visit www.anonos.com.