Cape Privacy raises $20m in an Evolution Equity Partners-led Series A fund

SaaS News -Cape-Privacy-raises-$20-million-in- Series-A(source: SaaS Industry)

At a Glance

To help companies share data in a secure and encrypted manner, Cape Privacy has raised $20 million in a Series A funding led by Evolution Equity Partners. 

New investors like Tiger Global, Ridgeline Partners, Downing Lane, and existing investors such as Boldstart Ventures, Version One Ventures, Haystack, Radical Ventures had also participated in the funding. 

Cape Privacy’s unique and advanced cryptography and machine learning enable collaboration on data without ever exposing them. Despite predominantly focusing on financial services at present, CEO Ché Wijesinghe sees beyond this single vertical into others such as pharmaceuticals, government, healthcare, telecommunications, and manufacturing. Also, while the data sharing piece remains the main focus of the company, data governance and compliance components shall also be the areas of focus, making sure that companies sharing data do so complying with the internal and external rules, regulations based on data types. 

This funding is seen as a significant milestone in Cape Privacy’s venture while they continue to innovate and meet requisite standards for secure machine learning and data privacy.

Commenting on the funding, Richard Seewald, founding and managing partner at Evolution Equity Partners, hailed Cape Privacy’s ability to 

“The application in Financial Services is only the beginning. Cape has big plans in life sciences and government where machine learning will help make incredible advances in clinical trials and counter-terrorism, for example. We anticipate wide adoption of Cape’s technology across many use cases and industries.” Richard added.

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