Duality, a security startup co-founded by the creator of homomorphic encryption, raises $16M

Duality, which builds solutions based on homomorphic encryption — a technique that encrypts an organization’s data in a way that lets it stay encrypted even as the company collaborates with third parties that also process the data — is today announcing that it has raised $16 million in funding.

Intel is a financial and strategic backer here: last year the two worked on a project to expose the security challenges of AI workloads, which utilised homomorphic encryption on Intel platforms in order to minimise data exposure.

“As a leading global, diversified media, information and services company with more than 360 businesses across industries, we are acutely aware of the increasing importance of data and data collaboration in companies across many market segments,” said Kenneth Bronfin, senior managing director of Hearst Ventures, in a statement.

That being said, there is still a lot of time and computing energy needed to process encrypted data, and so the idea with Duality is that it’s used on a company’s most sensitive information.

Intel Capital has been following the space closely, and we are excited to see secure computing and homomorphic encryption becoming practical and broadly applicable,” said Anthony Lin, vice president and senior managing director of Intel Capital, in a statement.

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