DataKrypto, the first and only fully homomorphic encryption (FHE) solution for protecting all data types in real-time throughout their lifecycle, including data in use, is a data protection software company launched as a spin-off of data retention leader DRSlab. DataKrypto’s advanced data encryption solutions protect data throughout its lifecycle. Pulse 2.0 interviewed DataKrypto co-founder and CEO Ravi Srivatsav to learn more about the company.
Ravi Srivatsav’s Background
What is Ravi Srivatsav’s background? Srivatsav said:
“I am a serial entrepreneur with extensive experience in the tech industry. Most recently, I was a partner at Bain & Company, advising Fortune 500 companies. Previously, I served as the Chief Product and Commercial Officer at NTT Research. I have also been an entrepreneur, founding ElasticBox and leading it to a successful acquisition by CenturyLink.”
Formation Of DataKrypto
How did the idea for the company come together? Srivatsav shared:
“One of DataKyrpto’s customers provides data retention solutions to TELCOs and Law Enforcement Agencies (LEAs). A TELCO client reported an issue where data requests showed no additional data beyond a certain point.”
“To address the insider threat and secure the data, DataKrypto implemented Fully Homomorphic Encryption (FHE) across the entire system. The solution ensured that all data, including audit logs and Call Detail Records (CDRs), remained encrypted throughout its lifecycle. Since then, the company has decided to focus primarily on providing this FHE solution to enterprises and ISVs looking to build secure applications.”
Favorite Memory
What has been your favorite memory working for the company so far? Srivatsav reflected:
“Our product is now tens of millions of times faster than our nearest competitors operating on encrypted data. I had asked for a minor feature within the product that would require modification to the codebase. My team initially pushed back on this request as it would take one extra CPU cycle, making us slower by a few nanoseconds, which, in my opinion, was still a million times faster than our competitors. I admire everyone at DataKrypto’s obsession with making our product the fastest and most secure FHE in the world.”
Core Products
What are the company’s core products and features? Srivatsav explained:
“DataKrypto’s libraries offer unique functionalities and value for secure data processing, and our flagship product is called FHEnom. FHEnom is a state-of-the-art Fully Homomorphic Encryption (FHE) scheme that allows organizations to perform arithmetic and search operations directly on encrypted data without decrypting it. This ensures data remains protected and inaccessible to unauthorized users, whether stored on-premises or in the cloud. By eliminating the need for decryption during data processing, FHEnom guarantees security at all times, providing unmatched privacy in sensitive data operations and the speed of encryption and encrypted data computations is unmatched in the industry.”
“As AI increasingly integrates with sensitive data across industries, FHEnom offers secure encryption of AI models and data. It enables machine learning algorithms and neural networks to operate on encrypted data, ensuring that the AI models and the input/output data remain protected. This library is particularly valuable for industries where AI is used for critical operations, such as healthcare diagnostics, financial fraud detection, or telecommunications, allowing organizations to harness the power of AI without compromising data privacy.”
Challenges Faced
What challenges have Srivatsav and the team faced in building the company? Srivatsav acknowledged:
“As a company, DataKyrpto is heavily invested in educating the market and developers on how their data can always be protected. Having data protected at rest and motion isn’t enough, and there are a lot of critical gaps in the data protection space that need to be addressed. The latest breach against major US broadband companies highlights existing security systems’ failures to protect PII, critical data, and systems supporting Law Enforcement Agency (LEA) investigations. It is another painful example of why companies must take immediate action and secure their data with FHE.”
“We recognize the need to promote this message and dispel the misconception that all FHEs are the same. We are collaborating with our customers to advance this narrative. We look forward to sharing their success stories in the coming months.”
Evolution Of DataKrypto’s Technology
How has the company’s technology evolved since launching? Srivatsav noted:
“Several improvements have been made to the product, and we are continuously adding new capabilities and features. We’ve added more operators on the data for developers to use and not do the heavy lifting themselves. Most recently, we added the capability to encrypt images, which our customers like – as AI continues to reshape various industries, and the importance of data security has become increasingly critical. Additionally, DataKrypto recently added a suite of solutions designed to address AI’s unique data security needs, ensuring that sensitive information remains confidential and secure throughout its lifecycle.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Srivatsav assessed:
“The TAM for the cybersecurity business has grown substantially year over year. The primary reasons for this revolve around increased cyber threats, nation-states involved in espionage, significant regulatory requirements being pushed by governments worldwide to protect their citizens, and the rapid adoption of AI. It is projected to be a half-trillion-dollar market in seven years. We are in a niche part of the data security business looking at a $70-$100 billion dollar market.”
Differentiation From The Competition
What differentiates the company from its competition? Srivatsav affirmed:
“When it comes to speed, DataKrypto is the fastest continuous encryption solution available; we operate in nanoseconds. Our competitors operate in milliseconds (One nanosecond is 1 million times faster than a millisecond). Additionally, DataKrypto is the only solution that encrypts all data types (alpha, numeric, audio, and video images) while preserving their format. We are a trusted partner with the only FHE solution certified by NIST with FIPS 140-2 – The Federal Information Processing Standard Publication 140-2, (FIPS PUB 140-2), is a US government computer security standard used to approve cryptographic modules.”
Future Company Goals
What are some of the company’s future company goals? Srivatsav concluded:
“Data is growing exponentially, and with increasing data breaches and stringent data protection regulations, the demand for robust encryption solutions is soaring. We are well-positioned to address the critical gap that exists in the market and help organizations by eliminating this threat vector.”
“I am optimistic about DataKrypto’s future. The company is well-positioned to lead the revolution in data security. Our commitment to our North Star—that data privacy and security are a human right—is driving unprecedented growth inside our organization.”
“We are setting a new industry benchmark, and we are poised to lead this revolution of securing data at all points in time.”
