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Vancouver-Based Version One Ventures Announces Investment in Cape Privacy, a Privacy Platform for Collaborative Data Science
Thursday, June 25, 2020Company Profile | Follow Company
Vancouver, BC, June 24, 2020--(T-Net)--Vancouver-based seed investment firm Version One Ventures announced today an investment in Cape Privacy, a privacy platform for collaborative data science, as part of a $5 million seed investment round (with $2.95 million in new capital according to Tech Crunch's earlier reporting).
Cape Privacy also announced the first public launch of their privacy platform, after emerging from stealth mode.
Cape Privacy brings teams together to make stronger decisions for safe and more powerful data science. Data Privacy is made possible by advanced cryptography and machine learning.
Version One Ventures co-led the seed round with others at boldstart ventures and additional participation from Haystack, Radical, and Faktory Ventures.
Privacy and machine learning are two key themes for a lot of people right now, and Cape Privacy is sitting right at the intersection, according to the investor.
"AI has the power to solve really important problems and transform industries like healthcare and finance. However, machine learning requires vast amounts of data - and typically some of the most valuable data (medical records, financial statements, location data, etc.) are also the most sensitive" stated Version One Ventures principal Boris Wertz in a blog announcement.
"That's where Cape Privacy comes in. It helps enterprise companies maximize the value of their data by providing an easy-to-use collaboration layer on top of advanced privacy and security technology, helping enterprises increase the breadth of data included in machine learning models. Cape Privacy enables organizations to model and share privacy-enhanced data, while maintaining trust. The platform is flexible, adaptable, and open source", continued Mr. Wertz.
Version One announced that it has previously invested in Gavin Uhma, Cape's co-founder and CTO. They earlier invested in Gavin's GoInstant which was sold to Salesforce in 2012 and stated they are happy to have Gavin back running a start-up.
About Cape Privacy
Increase data insights and business value while maintaining trust. Cape Privacy brings teams together to make stronger decisions for safe and more powerful data science. Data Privacy made possible by advanced cryptography and machine learning. https://capeprivacy.com/
About Version One Ventures
Backing the next generation of entrepreneurs leveraging powerful network effects.
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