Collaborative Data Science Company Cape Privacy Secures $5 Million

By Annie Baker ● Jun 29, 2020
  • Cape Privacy — a privacy platform for collaborative data science and machine learning — announced that it raised $5 million in seed funding

Cape Privacy — a privacy platform for collaborative data science and machine learning — announced that it raised $5 million in seed funding. This round of funding was co-led by boldstart ventures and Version One with participation from Haystack, Radical, and Faktory Ventures.

What does Cape Privacy do? Cape Privacy helps enterprise companies maximize the value of their data by providing an easy-to-use collaboration layer on top of advanced privacy and security technology. And it builds trust over time in and across organizations with encrypted data-sharing for industry advancement and social good.

And Cape helps businesses better collaborate internally (e.g. risk, legal, compliance divisions in a bank) or with third-party vendors (e.g. an agency or outside law firm) and across organizations (even competitors such as major pharmaceutical firms) by enhancing the privacy of data. Plus its software integrates into a customer’s existing data science and machine learning infrastructure to provide a collaborative workflow that guides cross functional contributors to work together on projects and policies — saving weeks of meetings.

Each company can decide where Cape’s components are placed in relation to data storage and pipeline systems to ensure data access, privacy, and monitoring successfully meet its unique requirements. And Cape allows entities to set project-specific monitoring and auditing configurations to ensure all parties have the logs they need, and allows them to review and approve policies or propose policy changes with a few clicks from a single window/pane of glass.

Key Quotes:

“Cape Privacy was founded on the belief that intelligent products and services should protect our privacy by default. Today, data science and privacy are at odds. Regulations and consumer preferences are minimizing the collection, processing, and sharing of data. Meanwhile, machine learning can help us solve truly important problems, from healthcare to finance. With Cape Privacy, you can model and share privacy-enhanced data while maintaining trust.”

– Gavin Uhma Co-Founder/CTO at Cape Privacy

“Sharing more of your company’s data to solve critical business problems, in a secure and trusted manner, is a clear competitive advantage. Enterprises are rapidly adopting machine learning and data science, in order to derive actionable business insights. However, data privacy represents one of the most challenging capabilities to enable this. With Cape’s advanced privacy-enhancing technology, organizations can work together both internally and externally to define and manage how data is shared.”

Cape Privacy CEO Ché Wijesinghe

“Governing disparate data in our tighter regulatory environment still feels like the Wild West to most companies. Businesses are desperate for technology that will help them leverage data appropriately and quickly. Cape Privacy stands out from other solutions because of its easy to use, collaborative platform powered by advanced cryptography and machine learning to ensure trust and data privacy – the use cases are limitless.”

– Ed Sim, Founder and Managing Partner at boldstart ventures