Funds for Compliant Data Sharing Firm Karlsgate

New Jersey-based secure data collaboration specialist Karlsgate has closed an oversubscribed $4 million seed funding round, which it will use to develop its compliant data connectivity network (DCN) solution.

Compliant with HIPAA, GDPR and the CCPA, Karlsgate's Identity Exchange and patent pending cryptoidentity technology promise to facilitate more efficient data exchanges / flows while exceeding global data privacy regulations. Data owners using the exchange can share individual-level insights safely and efficiently without losing full custody of data.

Currently with just five employees but already partnering with LexisNexis Risk Solutions on major healthcare clients as well as working with global companies in financial services and media, Karlsgate says its software allows users to link data assets in less than an hour, using 'no code' tools.

The seed round was co-led by M12, Microsoft's Venture Fund, and Motley Fool Ventures. M12 Managing Director Kouki Harasaki will be joining the Karlsgate board, and comments: 'We believe that the world is headed toward a future when data are efficiently exchanged (a) without transferring PII / PHI, (b) without cookies, (c) without re-identification risk, and (d) without PII/PHI exposure risk in-flight or at rest. The Karlsgate solution is a decentralized, zero trust cryptoidentity platform that meets these needs today'.

Vivian Zhou, co-founder and Chief Product Officer of Karlsgate says current approaches to sharing data are 'no better than a large-scale photocopier of sensitive information', and adds, 'We see a future with controlled access instead of needless copies of data. If you prevent both disclosure and re-identification, you can meet compliance requirements and scale your data strategy efficiently'. Co-founder and CEO Brian Mullin (pictured) comments: 'The expertise of our team has always been a key ingredient to making our technology approachable, even when the cryptography can tend to baffle. This funding helps us scale our team on both the engineering and client engagement fronts'.

Web site: www.karlsgate.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.