Decentriq, a Zurich, Switzerland – based enterprise data security company, raised $3.8m in seed funding.
The round was led by btov Partners, with participation from Paladin Capital Group and existing investor Atlantic Labs.
The company intends to use the funds to expand internationally while growing its client base within and beyond the financial services and healthcare industries.
Led by Maximilian Groth, co-founder and CEO, Decentriq provides a cloud-based platform that enables enterprises to assess sensitive data – which falls under GDPR or is strategically important – in a confidential and protected environment. Organizations can also apply external machine learning models to their internal datasets. This enables organizations to manage, analyse and share their data within minutes, without needing to trust a third party, and in compliance with privacy requirements as the data is encrypted.