Skyflow, a data privacy business, raised $30 million in an expansion of its Series B fundraising round headed by Khosla Ventures, with participation from existing investors such as Mouro Capital, Foundation Capital, and Canvas Ventures.
The financing demonstrates the growing market demand for improved data protection methods, particularly in the fields of Large Language Models (LLMs) and artificial intelligence.
Skyflow, founded by Anshu Sharma and Prashant Saha, has established itself as a market leader in data privacy vault services. These services are critical for businesses wishing to protect their customers’ sensitive information while yet using it for critical business activities such as analytics and customer care.
Skyflow runs on an encryption platform called polymorphic encryption which, according to the company, is only on the market that enables the protection of data without compromising usability for sensitive operations such as analytics, marketing, and customer support.
The company said it has had a good adoption rate among users, supporting billions of records of user data for clients like GoodRx, Lenovo, and Hippocratic AI. Every three months, it processes approximately two billion API calls demonstrating its capability to handle large volumes of confidential data in a timely manner.
With LLMs and AI becoming able to absorb more and more personal data, Anshu Sharma, co-founder and CEO of Skyflow, argued that companies around the world should make privacy and tech architecture a fundamental part of their product.
Skyflow meets one of the most urgent global privacy needs and allows businesses to comply with various data localization rules across the world. The company has moved its data residency solutions to China by complying with the country’s strict Personal Information Protection Law (PIPL) and Cybersecurity Law (CSL).
Skyflow has set up 150 Data privacy vaults globally which leverage the network coverage spread in 150 countries thus, making it an apt solution of many multinational enterprises operating in multiple locations.
The objective of the current round of fundraising initiated by Skyflow is to broaden the coverage and elevate its proficiency in the range of AI and LLM competencies. With every other firm moving towards the dependency on AI technologies, the matter of privacy has now become a necessary part of their technological stack.
“The trust and privacy are the basic things for security issues to ensure the safety of sensitive data with the arrival of AI-based enterprise applications, as commented by Vinod Khosla, Khosla Ventures founder,” according to Vinod Khosla, the founder of Khosla Ventures. “Skyflow is a company that every enterprise business should have, by looking at data differently and letting them be protected irrespective of where platforms, clouds or LLMs being used at.”
