PALO ALTO — Skyflow announced a $17.5 million Series A funding round to drive growth of its data privacy vault. The round, led by Canvas Ventures, brings the total amount raised to $25 million over the last year and includes Foundation Capital, which led the seed round.
With the funds, Skyflow said it will:
- Invest aggressively to build out its sales and marketing organization.
- Expand its product portfolio with vertical-specific vaults for finance, health and B2C companies.
- Hire engineering and operations teams to serve the needs of a growing list of customers.
Skyflow simplifies how companies manage, access and govern sensitive customer data. The zero-trust data vault with an elegant API allows developers to quickly build applications and workflows without worrying about data security, privacy or compliance.
“Our customers asked us—why can’t I be more like Apple? These companies are tired of buying tool after tool just for compliance,” said Anshu Sharma, CEO and co-founder at Skyflow. “Customers are telling us they want a simpler, unified way to securely handle sensitive data. They need to serve their users by running workflows and analytics while meeting increasingly stringent privacy expectations and regulations such as CCPA and GDPR. Skyflow’s data privacy vault does just that via a simple API.“
Inspired by the data vaults built internally by companies like Apple, Google and Netflix that spend tens of millions of dollars on privacy, Skyflow has built a zero-trust data vault that any company can use. At its core, the Skyflow data privacy vault is powered by a radical new approach called polymorphic encryption, which utilizes the latest industry-standard encryption and tokenization algorithms.
“Protecting sensitive data has been a pivotal challenge in the enterprise for decades,” said Paul Hsiao, general partner at Canvas Ventures. “The phenomenal growth Skyflow has seen in a few short months speaks to the strengths of the Skyflow team and their data platform for solving very complex privacy challenges.”