Inpher Secures Strategic Investment from Swisscom Ventures to Accelerate Growth in Secure, Privacy-Preserving Computing
NEW YORK, Sept. 8, 2021 /PRNewswire/ -- Inpher, Inc., the pioneers of Secret Computing©, today announced a strategic investment from Swisscom Ventures to fuel growth and partnership for market acceleration in telecommunications, finance and healthcare. Inpher's existing investors include the Amazon Alexa Fund, JPMorgan Chase & Co, Crosslink Capital, Bowery Capital and Alpana Ventures.
Gartner predicts that "by 2025, 50% of large organizations will adopt privacy-enhancing computation for processing data in untrusted environments and multiparty data analytics use cases." Consumer awareness, expanding data privacy regulations and secure, collaborative AI applications are driving this growing demand. The European Data Protection Board (EDPB) has specifically recommended the use of 'split or multi-party processing' as a supplementary measure for compliant data processing under the GDPR which is a foundational cryptographic capability in Inpher's products.
"We are experiencing strong growth due not only to data privacy compliance, but also the realization that privacy-preserving computing drives commercial ROI through actionable insights from broader and deeper pools of sensitive data," said Jordan Brandt, Chief Executive Officer of Inpher. "Our customers are building new businesses and revenue streams through Secret Computing©."
The strategic investment from Swisscom underlines Inpher's continued partnership with trusted industry leaders in data security, privacy and AI. "We look forward to implementing the vanguard of Privacy-Enhancing Technologies (PETs) to ensure cryptographically guaranteed trust for the many industries we serve," said Pär Lange, Investment Partner at Swisscom Ventures. "The patented technology, enterprise-ready product and expert team at Inpher demonstrate the next wave of innovation and scale in this rapidly expanding market."
About Inpher:
Inpher is a New York-based, global Secret Computing© company that powers privacy-preserving machine learning and analytics to unlock the value of sensitive, siloed data and enable secure collaboration across teams and organizations. Data scientists leverage Inpher's XORTM SaaS to train and run ML models on deeper and more diverse data while it is encrypted to improve model performance with mathematically guaranteed data privacy and residency. Global enterprises have used XOR in multiple vertical applications across finance, healthcare and IoT. Inpher's team of recognized leaders in the fields of Multiparty Computation (MPC), Fully Homomorphic Encryption (FHE), and Federated Learning (FL) continue to deliver the fastest, high-precision privacy-preserving capabilities.
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