Investors swarm to TripleBlind’s $8.2M rapid seed round as ‘deep tech’ changes face of privacy

An oversubscribed $8.2 million seed round means one thing for Kansas City-based TripleBlind: its data privacy solution is of critical importance, the rapidly scaling startup announced Monday.

Its slate of new and returning investors agree.

Greg Storm, co-founder, TripleBlind

“TripleBlind will enable our joint customers in regulated industries to leverage enterprise data that today goes largely untapped due to regulations,” said Monty Gray, senior vice president, Corporate Development at Okta, Inc. — which participated in the seed funding round led by Dolby Family Ventures.

Local venture firms KCRise Fund and Flyover Capital renewed their support from a pre-seed funding round in November, alongside Accenture Ventures, which led the previous investment round.

Launched in 2019, TripleBlind offers a state-of-the-art solution in privacy, boasting a suite of tools that enable companies to safely provide and consume sensitive data and algorithms in encrypted spaces — promising to provide them with the most private and secure setting that’s ever existed. 

Additional backers in the investment announced Monday include: NextGen Venture Partners, Operator Partners, Wavemaker Three-Sixty Health, AVG Basecamp Fund, Anorak Ventures, Quiet Capital, Clocktower Technology Ventures, Parity Responsible Technology Fund and Manresa Ventures.

Co-founder Riddhiman Das teased the funding round earlier this year when the company was named one of Startland News’ 10 Kansas City Startups to Watch in 2021. 

“We are what you would call one of those ‘deep tech’ companies where we have a lot of technology that we’ve invented and now it’s about going to market,” Das told Startland News during a sit down interview special. 

“2021 looks like a very heavy go to market year for us.”

Click here to see why TripleBlind was listed first among Startland News’s 10 Kansas City Startups to Watch in 2021.

Watch the 2021 Startups to Watch interview special below, then keep reading.

The close of the seed funding round announced Monday is expected to further such a mission as the company prepares to enter the second quarter.

The collective of investors signals strong support for the company’s innovative approach to data privacy issues, TripleBlind said in its funding announcement. 

“Closing a new round after completing a pre-seed round last November — combined with the breadth and profile of investors — demonstrates the widespread support for TripleBlind’s new, novel data privacy and API-driven virtual exchange approach,” the company said.

“With a portfolio of healthcare and biotech companies, many of which face data exchange issues, Dolby Family Ventures is enthusiastic about TripleBlind’s approach that creates and enables a more fluid data sharing process,” said Andrew Krowne, managing director of the VC firm. “We appreciate companies that build on strong, novel technical solutions and are thrilled to support TripleBlind’s potential impact across healthcare, financial services and other industries where exchange of sensitive data needs to happen.”

This story is possible thanks to support from the Ewing Marion Kauffman Foundation, a private, nonpartisan foundation that works together with communities in education and entrepreneurship to create uncommon solutions and empower people to shape their futures and be successful.

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