Investors swarm to TripleBlind’s $8.2M rapid seed round as ‘deep tech’ changes face of privacy
March 1, 2021 | Startland News Staff
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.
For more information, visit www.kauffman.org and connect at www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn
Featured Business
2021 Startups to Watch
stats here
Related Posts on Startland News
Popular TEDxKC won’t return in 2018; organizers to focus on women, youth events
TEDxKC — one of the largest and most-popular independently-organized TEDx events in the world — won’t be back for 2018. While TEDxYouth@KC and TEDxKCWomen are expected to return in 2018, hitting pause on TEDxKC’s “general ideas” event will allow organizers to reflect on accomplishments, missteps and milestones, said Mike Lundgren, co-founder of TEDxKC. “We asked two…
Fitbit integrating Sickweather illness forecasting into new wearables
Sickweather is stepping into the wearables market. A new partnership with industry leader Fitbit is expected to see the Kansas City-based startup’s illness forecasting technology integrated into Fitbit’s new products. “Smartwatches provide a powerful platform to deliver important health tools that help our users manage conditions more conveniently than ever before,” said James Park, co-founder…
Surveys, rewards dying: Tapyness scores customer feedback with one-tap, 3-second experience
No one takes 15-minute surveys anymore, said Matthew Korte, co-founder of Tapyness, a Lawrence-based customer experience platform that provides real-time feedback via kiosks in client businesses. A typical Tapyness interaction takes three seconds, he said. “We’re down to the millisecond, and we’re aggregating hundreds of tablets simultaneously within one brand to go: ‘Here’s the health…
Lean Lab rebrands to reflect its evolution within education innovation
The Lean Lab has announced a rebranding effort to better reflect and differentiate it from other groups in education innovation, said co-founder Katie Boody. Unveiling a new look in late April, the Kansas City-based organization is now LEANLAB Education, which Boody hopes will better communicate its mission, she said. “We know the nature of our…