Collaborative Analytics and AI platform Opaque Systems secured $22 Million

Opaque System, California-based collaborative analytics and Artificial Intelligence for confidential computing platform, has now secured $22 million in a Series A funding round.

Opaque System offers collaborative analytics and an AI platform for confidential computing. It enables data to be securely shared and analyzed by multiple parties while maintaining complete confidentiality and protecting data end to end. The platform uses a novel combination of two key technologies layered on the top of cloud security – secure hardware enclaves and cryptographic fortification.

Raluca Ada Popa, president and co-founder of Opaque Systems, said, "Our new investors, Walden Catalyst, Storm Ventures and Thomvest Ventures, and existing investors see the enormous market opportunity in performing collaborative analytics and AI on confidential data. This financing will accelerate R&D and hiring as we cement Opaque's position as the authority in multi-party analytics and AI for confidential computing. Global organizations are in desperate need of a secure solution to collaboratively analyze their confidential data and we are well positioned to meet this growing demand."

Ion Stoica, Opaque co-founder and board member, said, "The world of data analytics is colliding with stricter data security requirements. As data volumes scale to unprecedented levels, the increasing need to keep data safe from unwanted parties is limiting an organization's ability to derive its full value. Opaque has created a unique process for ensuring the security of data while still enabling organizations to perform multi-party and intra-organizational analytics. This process will become a foundational requirement at any organization that requires collaboration around sensitive data to power AI and ML models."

The round, which brought the total funding secured to date to $31.6 million, was backed by Walden Catalyst Ventures, with participation from new investors, Thomvest Ventures and Storm Ventures, as well as all existing investors, The House Fund, Race Capital, Intel Capital and FactoryHQ.

The company, as of now, has plans to use the new funds to serve the accelerating market demand for collaborative analytics and AI in confidential computing.