Insider Brief
- Skyflow, specializing in data privacy vaults, has raised $30 million in an extension of its Series B funding, led by Khosla Ventures, to meet the growing demand for protecting sensitive data within Large Language Models (LLMs) and other AI applications.
- The company provides a solution for isolating, protecting, and governing sensitive customer data, boasting a global network of data privacy vaults that support nearly a billion records of user data and processes over two billion API calls quarterly for clients like GoodRx and Lenovo.
- Skyflow introduces polymorphic encryption technology for secure data management and has expanded its data residency solutions to include China, adhering to stringent data privacy laws and enabling global companies to operate in Asia without overhauling their technology stacks.
PRESS RELEASE — PALO ALTO, Calif. /March 28, 2024— (BUSINESS WIRE) — Skyflow, the data privacy vault company, has raised $30 million to extend its Series B funding. Khosla Ventures led the round, joined by prior investors Mouro Capital, Foundation Capital and Canvas Ventures. The investment follows revenue growth of more than 210% and quick adoption in the emerging market of sensitive data protection for Large Language Models (LLMs).
Skyflow is a data privacy vault built to radically simplify how companies isolate, protect, and govern their customers’ most sensitive data. With its global network of data privacy vaults, it is a comprehensive solution for companies looking to securely implement LLMs and meet complex data localization requirements. Skyflow supports nearly a billion records of user data for global customers like GoodRx, Lenovo, and Hippocratic AI, and processes more than two billion API calls quarterly.
“With the advent of enterprise applications powered by AI, the need for trust and privacy infrastructure is key to protecting sensitive data,” said Vinod Khosla, founder of Khosla Ventures. “Skyflow is rethinking how data can be managed and protected across any app, cloud or LLM, making it a company that will be vital for every enterprise business.”
“We see an urgent need for companies to make privacy a core part of their technology stack as LLMs and AI hurdle forward, ingesting more and more personal data,” said Anshu Sharma, co-founder and CEO of Skyflow. “Skyflow is the only solution that allows companies to build privacy by design into their technological infrastructure without overhauling anything — anywhere in the world.”
Skyflow is powered by a proprietary technology called polymorphic encryption, which is the only way of encrypting data on the market that makes it possible to protect data without sacrificing its usability for critical business operations, such as analytics, marketing, and customer support.
Data Privacy and Security is the #1 Barrier to Enterprise Adoption of Generative AI
LLM adoption is increasing across the market even though there are few data protection mechanisms in place, putting compliance, security, and privacy at risk. Once sensitive data enters a model it’s almost impossible to remove, which means something like a data deletion request — which many new privacy laws require companies to be able to execute — becomes much more difficult.
Skyflow acts as a privacy trust layer, helping companies prevent sensitive data from going into AI models in the first place. This makes the adoption of generative AI simpler and safer. Skyflow customers can define sensitive terms as they see fit, allowing them to protect sensitive information even beyond PII (Personally Identifiable Information) or company intellectual property.
Skyflow Now Offers Data Residency in China
Skyflow recently expanded its data residency solution to support China, enabling global companies to scale in Asia without significant changes to their technology stacks. This simplifies compliance with China’s most stringent data privacy and security regulations: Personal Information Protection Law (PIPL) and Cybersecurity Law (CSL).
Skyflow’s global data privacy vault infrastructure covers regional and national data localization requirements for more than 150+ countries already, allowing customers to isolate, protect, govern, and localize sensitive data easily wherever they operate.
To learn more about how Skyflow can help protect sensitive data across any app, any data cloud, and any LLM, please visit our website here.
About Skyflow
Skyflow is a data privacy and AI privacy company built to radically simplify how companies isolate, protect, and govern their customers’ most sensitive data. With its global network of data privacy vaults, Skyflow is a comprehensive solution for companies around the world looking to securely implement LLMs and meet complex data localization requirements. Skyflow currently supports a diverse customer base that spans verticals like fintech, retail, travel, and healthcare.
Skyflow is headquartered in Palo Alto, California and was founded in 2019. For more information, visit www.skyflow.com or follow us on LinkedIn and X.
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