PALO ALTO, Calif. (AI Reporter/News): AI’s boom is fueling a rise in companies that provide the building blocks and support for large language models (LLMs). In a significant development, Skyflow, a leader in data privacy vault technology, secured an additional $30 million in Series B funding, with Khosla Ventures at the helm, supported by Mouro Capital, Foundation Capital, and Canvas Ventures, the company informed on March 28, 2024.
This funding comes after Skyflow achieved over 210% revenue growth and witnessed rapid adoption in the burgeoning field of protecting sensitive data for Large Language Models (LLMs).
Privacy-focused startup with an office in Bengaluru, previously secured $45 million during a Series B funding round in 2021.
Data privacy in AI and global data residency ensures the safeguarding of sensitive information and compliance with international laws.
Data Privacy Vaults
Over the 5 years, Skyflow technology has helped companies isolate, protect, and govern their customers’ most sensitive data. Its global network of data privacy vaults offers a comprehensive solution for secure Large Language Models (LLMs) implementation and navigating complex data localization requirements.
The company supports nearly a billion user data records for global clients like GoodRx, Lenovo, and Hippocratic AI, processing over two billion API calls every quarter.
The data privacy solutions provider has been named one of Fast Company’s Most Innovative Companies for 2024.
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Vinod Khosla’s Skyflow Insights
Trusting Data Security
Vinod Khosla, the visionary founder of Khosla Ventures, emphasizes the growing importance of safeguarding sensitive data in this new era. “With the advent of enterprise applications powered by AI, the need for trust and privacy infrastructure is key to protecting sensitive data,” Vinod Khosla notes, highlighting the urgency for advanced security measures in the face of burgeoning digital threats.
Vindo Khosla praises Skyflow’s pioneering efforts, stating, “Skyflow is rethinking how data can be managed and protected across any app, cloud, or LLM, making it a company that will be vital for every enterprise business.”
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Privacy as Priority
“We see an urgent need for companies to make privacy a core part of their technology stack as LLMs and AI hurdle forward, ingesting more and more personal data,” said Anshu Sharma, co-founder and CEO of Skyflow.
“Skyflow is the only solution that allows companies to build privacy by design into their technological infrastructure without overhauling anything – anywhere in the world.”, he added.
Skyflow is powered by a proprietary technology called polymorphic encryption, which is the only way of encrypting data on the market that makes it possible to protect data without sacrificing its usability for critical business operations, such as analytics, marketing, and customer support, the company said.
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Data Privacy and Security are the Barriers to Enterprise Adoption of Generative AI
“LLM adoption is increasing across the market even though there are few data protection mechanisms in place, putting compliance, security, and privacy at risk.”, Skyflow said.
“Once sensitive data enters a model it’s almost impossible to remove, which means something like a data deletion request – which many new privacy laws require companies to be able to execute – becomes much more difficult.”, Palo Alto, California headquartered tech leader said.
“Skyflow acts as a privacy trust layer, helping companies prevent sensitive data from going into AI models in the first place. This makes the adoption of generative AI simpler and safer.”, the software service provider said.
Skyflow customers can define sensitive terms as they see fit, allowing them to protect sensitive information even beyond PII (Personally Identifiable Information) or company intellectual property.
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Skyflow’s Data Residency in China
The 5-year-old company, founded by IIT Kharagpur alumni Anshu Sharma and Roshmik Saha recently expanded its data residency solution to support China. The initiative enables global companies to scale in Asia without significant changes to their technology stacks.
This simplifies compliance with China’s most stringent data privacy and security regulations: Personal Information Protection Law (PIPL) and Cybersecurity Law (CSL).
“Skyflow’s global data privacy vault infrastructure covers regional and national data localization requirements for more than 150 countries already, allowing customers to isolate, protect, govern, and localize sensitive data easily wherever they operate.”, the company’s statement revealed.
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Skyflow: An Overview
This table provides a concise overview of Skyflow, including its foundation, leadership, and area of expertise.
| Attribute | Details |
|---|---|
| Company | Skyflow |
| Category | Tech Startup |
| Core Competency | Data privacy |
| Head Quarter | Palo Alto, California |
| Year of Establishment | 2019 |
| No. of Employees | 11-50 |
| Founder and CEO | Anshu Sharma |
| Co-Founder (Engineering) | Roshmik Saha |
| Address | 195 Page Mill Road, Suite 111 Palo Alto, CA 94306 |
| Area of Expertise | Data Protection |
| Customer Base | 100 customers in 2023 |
| Key Clients | Lenovo, IBM, and GoodRx, Amazon Web Services, Visa |
| Website | skyflow.com |
FAQs: Skyflow
1. What is Skyflow and what does it do?
- Protecting Sensitive Data from the Grasp of AI: Securing Information in the Age of Large Language Models
Large language models (LLMs), the powerful engines behind today’s popular generative AI interfaces, pose a significant risk to data privacy. Once information enters an LLM’s training dataset, it becomes virtually impossible to remove. Skyflow tackles this challenge head-on by ensuring sensitive data remains protected and doesn’t leak into LLMs. This innovative approach safeguards privacy in the burgeoning AI landscape, allowing organizations to leverage the power of LLMs without compromising sensitive information.
With Skyflow’s cutting-edge technology, businesses can now create a secure barrier around sensitive data, preventing its use in training large language models (LLMs) like ChatGPT.
This empowers organizations to protect valuable customer information, proprietary intellectual property, and other confidential details from the reach of these powerful AI tools. By leveraging Skyflow, businesses can confidently embrace the benefits of LLMs without compromising data privacy.
Skyflow is a data privacy vault company that helps businesses isolate, protect, and govern sensitive customer data.
2. Why is data privacy a concern with AI and LLMs?
As AI and LLMs become more powerful, they require access to vast amounts of data, which can include sensitive personal information. Traditional data security methods can make it difficult to use this data for analysis and other purposes while still protecting privacy.
3. How does Skyflow address data privacy for AI?
Skyflow’s technology helps prevent sensitive data from entering AI models in the first place. This simplifies and secures the adoption of generative AI. They also offer features like data residency options to comply with regulations around the world.
4. What are the benefits of using Skyflow?
Skyflow can help businesses:
- Securely implement AI and LLMs
- Meet complex data localization requirements
- Protect sensitive customer data
- Simplify compliance with data privacy regulations
5. Who are some of Skyflow’s customers?
Skyflow supports a variety of customers across different industries, including GoodRx, Lenovo, and Hippocratic AI.
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