Pyte, a Los Angeles, CA-based provider of a computation platform for data-first global enterprises, raised $5M in funding.
The round, which brought the total amount to $12M, was led by Myriad Venture Partners with participation from Innovation Endeavors, Liberty Mutual Strategic Ventures and Pillar VC, among others.
The company intends to use the funds to accelerate the commercialization of its computation platform for data utilization and collaboration.
Led by CEO and Founder Sadegh Riazi, Pyte is a data collaboration solutions provider whose technology allows for computation on encrypted data without decryption at any point in the data lifecycle, enabling enterprises to leverage their data across cloud environments, partners, and jurisdictions while remaining privacy compliant and protecting against data breaches.
Pyte’s proprietary SMPC technology makes it easy to run simple or complex artificial intelligence (AI) or machine learning (ML) computations on encrypted data, without the sensitive data ever needing to be moved or decrypted. This ensures IP safeguards and protection against leaks and sharing as enterprises leverage their data across cloud environments, partners and jurisdictions.
FinSMEs
12/06/2024