Hazy, a London, UK-based data anonymization platform, raised $1.8m in seed funding.
The round, which brought total seed funding to $2.8m, having the company previously received a $1m investment from M12 (formerly Microsoft Ventures) and Notion Capital in May this year, was led by the UCL Technology Fund with participation from Nationwide Building Society, Pentland, Amadeus Capital Partners, AI Seed, and others.
Founded less than 18 months ago as a spin out of UCL (University College London) by Harry Keen, James Arthur, and Dr. Fintan Nagle, Hazy provides a cloud-based platform that allows businesses to share data through a workflow tool that automatically anonymizes and adapts to changing datasets. The artificial intelligence engine is able to seek out and anonymize personal data buried in datasets, ensuring companies stay fully GDPR-compliant when sharing data. Businesses using Hazy’s tool can confidently reassure customers that their data is being handled legally, securely and anonymously.
The company, which has already launched its initial product, which allows businesses to share data securely under GDPR-compliant legal agreements, will use the new funding to develop its automated data-anonymisation tool that will be able to optimize privacy for each use case.
Hazy raised £340k in pre-seed in October 2017 in a round led by the UCL Technology Fund, which is managed by Albion Capital in collaboration with UCLB.