Privacy Platform for Collaborative Data Science: Excited to Announce boldstart’s Investment in Cape Privacy
At boldstart, we love nothing more than to partner on day one with technical enterprise founders solving super hard problems. At the heart of Cape Privacy is Gavin Uhma’s, co-founder and CTO, vision to safely use all of the world’s encrypted data for industry advancement and social good. Imagine a world where data sharing for vaccine development, counterterrorism, and anti-fraud is no longer limited by trust, as Cape Privacy not only provides the collaborative platform to easily enable this, but the core technology to train and run machine learning models on encrypted data. We’re thrilled to finally announce our investment in Cape Privacy and to be partnered with co-founders Gavin, Morten Dahl and Ben DeCoste along with co-lead Version One Ventures and fellow investors Haystack, Radical and Faktory. Like many boldstart companies, the company is default distributed from day one with team members based in Halifax, San Francisco, Berlin, Paris, and New York.
The opportunity for Cape Privacy is massive as for most large enterprises, governing disparate data in our tighter regulatory environment still feels like the Wild West. Businesses are desperate for technology that will help them leverage data appropriately and quickly and to unlock value for internal and external use cases. They also need a solution that will allow all of their different stakeholders from security to privacy to engineering to data science to speak the same language and collaborate in real time. This is exactly what Cape Privacy offers, a git-like collaborative workflow built on top of advanced privacy and security technology, helping enterprises increase the breadth of data included in machine learning models. Cape Privacy’s platform is flexible, adaptable, and open source allowing data scientists and engineers to turn compliance into code. And most importantly, it’s as easy to use as Google Docs.
This is our second time partnering with Gavin as we invested in his prior company, GoInstant, which was sold to Salesforce. Like many other boldstart founders who previously exited their companies (Guy at Snyk and Rahul at Superhuman), we could not wait for Gavin to leave to pursue his next mission. That he did when he met cryptographer Morten Dahl and they started working on an open source project called TF-Encrypted to democratize encrypted machine learning so developers and data scientists would not need a cryptographer to run their models. This initial project along with other advanced cryptography and machine learning methods are still at the core of what enables Cape Privacy to ensure trust and data privacy.
Once the team solved the hard problem of making it easy and fast to do ML on encrypted data, it was time to build the go-to-market engine. With that, we introduced Ché Wijesinghe, a boldstart advisor with 20+ years of experience leading go-to-market teams in the data infrastructure space from Composite Software (sold to Cisco) to OmniSci to Datalogue. Ché and team were kindred spirits from the start with complementary skill sets and a shared vision for the future. Ché joined Cape Privacy earlier this year as CEO. The final piece of the puzzle was adding a talented Head of Product in Katharine Jarmul who brings many years of experience in the data privacy world, most recently as co-founder of KIProtect.
We’re excited that Cape Privacy has evolved from an idea to an open source project to a product pointed at a huge problem economically and socially. And as Gartner recently said earlier this year, this problem will only grow as:
“By 2023, 65% of the world’s population will have its personal information covered under modern privacy regulations, up from 10% today.”