Pyte Revolutionizes Secure Data Collaboration
June 13, 2024, 9:30 am
In a world where data is king, the need for secure data collaboration has never been more crucial. Enter Pyte, a startup that is changing the game with its innovative technology and recent $5 million funding round.
Founded in 2020, Pyte is on a mission to revolutionize secure data collaboration in highly regulated industries such as financial services and healthcare. With a focus on privacy, security, and compliance, Pyte offers a secure computation platform that allows organizations to collaborate on sensitive data without compromising confidentiality.
The key to Pyte's success lies in its Secure Multiparty Computation technology, which enables organizations to run computations on encrypted data without ever needing to decrypt it. This means that sensitive data remains protected throughout the entire data lifecycle, reducing the risk of leaks and unauthorized sharing.
Pyte's SecureMatch platform, launched in 2023, ensures that customer data remains encrypted and protected during the computation process. The platform has also achieved System and Organization Control 2 compliance, highlighting its robust data controls related to security, availability, processing integrity, confidentiality, and privacy.
With the recent $5 million funding round led by Myriad Venture Partners, Pyte is poised to expand its reach into new industries and continue its mission of democratizing secure data utilization. Other participants in the funding round include Innovation Endeavors, Liberty Mutual Strategic Ventures, and Pillar Ventures.
According to Sadegh Riazi, founder and CEO of Pyte, the need for secure data collaboration is more critical than ever. "Conventional data-sharing methods often compromise privacy, intellectual property, and security by centralizing data into vulnerable environments," Riazi explains. "With our patented Secure Multiparty Computation technology, enterprises can collaborate on sensitive data with confidence, knowing that their data is secure."
Dean Mai, co-founder and managing director of Myriad Venture Partners, echoes Riazi's sentiments, emphasizing the value of Pyte's technology in industries where data security and compliance are paramount. "Pyte enables unprecedented levels of secure data collaboration," Mai says. "This is a remarkable feat of cryptographic engineering, and we're excited about the immense value of data that organizations across industries will unlock with Pyte."
Overall, Pyte's innovative approach to secure data collaboration is reshaping the way organizations handle sensitive information. With its cutting-edge technology and recent funding, Pyte is well-positioned to lead the charge in revolutionizing data collaboration in regulated industries.
Founded in 2020, Pyte is on a mission to revolutionize secure data collaboration in highly regulated industries such as financial services and healthcare. With a focus on privacy, security, and compliance, Pyte offers a secure computation platform that allows organizations to collaborate on sensitive data without compromising confidentiality.
The key to Pyte's success lies in its Secure Multiparty Computation technology, which enables organizations to run computations on encrypted data without ever needing to decrypt it. This means that sensitive data remains protected throughout the entire data lifecycle, reducing the risk of leaks and unauthorized sharing.
Pyte's SecureMatch platform, launched in 2023, ensures that customer data remains encrypted and protected during the computation process. The platform has also achieved System and Organization Control 2 compliance, highlighting its robust data controls related to security, availability, processing integrity, confidentiality, and privacy.
With the recent $5 million funding round led by Myriad Venture Partners, Pyte is poised to expand its reach into new industries and continue its mission of democratizing secure data utilization. Other participants in the funding round include Innovation Endeavors, Liberty Mutual Strategic Ventures, and Pillar Ventures.
According to Sadegh Riazi, founder and CEO of Pyte, the need for secure data collaboration is more critical than ever. "Conventional data-sharing methods often compromise privacy, intellectual property, and security by centralizing data into vulnerable environments," Riazi explains. "With our patented Secure Multiparty Computation technology, enterprises can collaborate on sensitive data with confidence, knowing that their data is secure."
Dean Mai, co-founder and managing director of Myriad Venture Partners, echoes Riazi's sentiments, emphasizing the value of Pyte's technology in industries where data security and compliance are paramount. "Pyte enables unprecedented levels of secure data collaboration," Mai says. "This is a remarkable feat of cryptographic engineering, and we're excited about the immense value of data that organizations across industries will unlock with Pyte."
Overall, Pyte's innovative approach to secure data collaboration is reshaping the way organizations handle sensitive information. With its cutting-edge technology and recent funding, Pyte is well-positioned to lead the charge in revolutionizing data collaboration in regulated industries.