KANSAS CITY, Mo., Jan. 25, 2022 (GLOBE NEWSWIRE) — TripleBlind, creator of the most complete and scalable solution for privacy enhancing computation, which unlocks the intellectual property value of data, while preserving privacy and enforcing compliance with HIPAA and GDPR, announced today additions to its board of directors that will reinforce the company’s leadership position in supporting healthcare, financial services and other enterprises to utilize the 43ZB of data that is currently unutilized.
“Effective collecting, managing and utilizing data is the lifeblood of many industries today. Unlocking that data while enforcing data privacy is essential to long-term sustained growth,” said Riddhiman Das, co-founder and CEO of TripleBlind. “We have carefully selected this board of directors to provide the expertise and market experience we need to reinforce our position as the most effective private data sharing solution available, and expand our focus beyond healthcare into financial services, and other industries where innovative utilization of data assets is essential.”
TripleBlind’s newly expanded board of directors includes:
Ben Bayat, Managing Director, NextGen Venture Partners – Bayat opened NextGen’s west coast office and leads investing for NextGen’s Venture Fund, focused on early stage technology investments.
Quentin Clark, Managing Director, General Catalyst – Clark has more than 25 years experience in product, technology and SaaS space, and has invested in more than 50 companies. Previously, he held management positions at Dropbox, Microsoft and SAP.
John Halamka, M.D., President, Mayo Clinic Platform – Dr. Halamka leads a portfolio of platform businesses focused on transforming healthcare by leveraging artificial intelligence, connected healthcare devices and a network of trusted partners. Trained in emergency medicine and medical informatics, Dr. Halamka has been developing and implementing healthcare information strategy and policy for more than 25 years. He joined the Board as an observer.
Shail Jain, Data & AI lead for Accenture Cloud First – Jain is responsible for the growth of Accenture data and AI expertise within Accenture Cloud First, a multi-service group of 100,000+ cloud professionals dedicated to rapidly expanding Accenture’s cloud service capabilities and offerings. Prior to joining Accenture, Jain served as CEO of Knowledgent, a leading data and analytics company that Accenture acquired in 2018. He is a serial entrepreneur and has built three technology services companies over the last 25 years. He joined the Board as an observer.
Andrew Krowne, Managing Director, Dolby Family Ventures – Krowne manages the early-stage venture capital firm’s investments and builds on the Dolby family’s commitment to discovering and supporting visionaries and entrepreneurs.
Thad Langford, Managing Partner, Flyover Capital – Langford is a TripleBlind Board observer. Before Flyover, Langford was the CEO of Zave Networks (acquired by Google), a venture-backed marketing attribution platform, based in Kansas City. He is currently focused on creating the next generation of technology success stories in areas outside of the traditional tech hubs.
Toby Rush, Entrepreneur and CEO – Rush was previously CEO of Smart Warehousing, which has built a platform that accelerates omnichannel fulfillment, enabling the company to take advantage of the current disruption in retail. He was the founder of EyeVerify and sold the company to Alibaba in 2016 where he led the biometrics and identity platform. Rush joined the Board as an observer.
“TripleBlind offers a way for enterprises to responsibly do more with their data, which is a growing challenge that has an exponential impact on agility in the business. By opening up an enterprise’s data while ensuring security, privacy and compliance, TripleBlind can empower these businesses in a way that is still in alignment with their stakeholders,” said Quentin Clark, Managing Director, General Catalyst. “We believe that facilitating intelligent data sharing and collaboration will be a core strategy when it comes to building responsibly innovative enterprises of the future. Triple Blind perfectly aligns with General Catalyst’s mission, and we are excited to partner with them on their journey.”
TripleBlind recently announced a $24 million oversubscribed Series A funding round led by General Catalyst and Mayo Clinic. The round follows TripleBlind’s seed raise of $8.2 million announced in March 2021.
TripleBlind creates new opportunities for enterprises through use cases such as:
- Healthcare organizations build more diverse patient data sets enabling development of highly accurate diagnostic algorithms, develop better treatments and drugs, and other patient care initiatives
- Financial institutions share data to create a comprehensive view of consumers and create more effective anti-fraud and anti-money laundering strategies
- Organizations where data is siloed collaborate on joint initiatives with customers, vendors and partners and present a unified brand experience
- Data marketplaces across all industries can allow computations to occur on data assets listed on their platform without transaction the raw data, meaning data is ready for ”market” immediately during collaboration or company mergers
- Researchers conducting double-blind experiments can gain an early indication of the probabilistic certainty that the trial will succeed or fail, without violating the rules of double-blindedness.
TripleBlind offers proprietary cryptographically-enforced privacy for data and algorithms, allowing institutions to collaborate around the most private and sensitive data without it ever being decrypted or leaving their firewall. TripleBlind provides one-way encryption and allows only authorized operations on any type of data, any algorithm, computable by third parties in real-time. TripleBlind never hosts or accesses shared data.
TripleBlind’s Solution unlocks the estimated 43ZB of data that are not commercialized today. The company’s patented breakthroughs in advanced mathematics enable organizations to secure larger and more diverse data sets for innovating enhanced algorithms for medical diagnoses and improved anti-fraud initiatives in financial services. TripleBlind enforces international and regional data privacy standards, including HIPAA, GDPR, PDPR, and CCPA.
TripleBlind Two Minute Overview Video
Background on Competing Solutions
TripleBlind technology significantly differs from existing solutions and is not based on homomorphic encryption, secure enclaves, tokenization/masking/hashing and differential privacy, synthetic data, federated learning and blockchain. For an overview, a live demo, or a one-hour hands-on workshop, firstname.lastname@example.org.
About General Catalyst
General Catalyst is a venture capital firm that invests in powerful, positive change that endures — for our entrepreneurs, our investors, our people, and society. We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, Palo Alto, New York City, London, and Boston, the firm has helped support the growth of businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker. For more: www.generalcatalyst.com.