In order to expand its Series B investment round, Skyflow, a software service provider that maintains user data for businesses, has raised $30 million. Along with returning investors Mouro Capital, Foundation Capital, and Canvas Ventures, Khosla Ventures led the round.
According to a statement from the company, the most recent capital infusion comes after sensitive data protection for Large Language Models (LLMs) was quickly adopted in a new industry.
Anshu Sharma and Roshmik Saha, two IIT Kharagpur alumnus, launched the Palo Alto, California-based firm. It offers data privacy vault services that assist digitally native client companies in isolating, safeguarding, and controlling their customers’ sensitive data.
Polymorphic encryption, a patented technique used by Skyflow, safeguards data without compromising its usability for vital business functions including marketing, customer service, and analytics.
Sharma, who is also the CEO of Skyflow, stated, “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.”
Customers can use Skyflow’s solutions to meet global data localization standards and securely implement LLMs. It handles around two billion quarterly application programming interface (API) requests and nearly a billion records of user data for clients like Hippocratic AI, Lenovo, and GoodRx.
“With the advent of enterprise applications powered by artificial intelligence, the need for trust and privacy infrastructure is key to protecting sensitive data. 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,” Vinod Khosla, founder of Khosla Ventures, said in the statement.
The most recent Series B fundraising round for Skyflow, which also has an office in Bengaluru, brought in $45 million in 2021.