Inpher Secures Strategic Investment from the Amazon Alexa Fund for Consumer Data Protection in AI.
NEW YORK, March 16, 2021– Inpher, Inc., the pioneers of Secret Computing®, today announced a strategic investment from the Amazon Alexa Fund. Inpher plans to apply the funds to accelerate its go-to-market activities and to bring its privacy-preserving machine learning capabilities to connected devices and IoT services. Inpher’s existing investors include JPMorgan Chase & Co, Crosslink Capital, Bowery Capital and Alpana Ventures.
The demand for Secret Computing® has grown with the proliferation of AI. Deeper and more diverse data is required to enhance customer experiences, streamline enterprises and solve society’s most pressing problems without compromising privacy or security. Data-driven enterprises and public institutions are turning to advanced cryptographic solutions that can process data while it remains encrypted — enabling algorithms to learn and react to personal or confidential information without transferring or seeing it.
“AI will drive tremendous societal and personal benefits, but this should not come at the cost of our individual liberties,” said Jordan Brandt, Chief Executive Officer of Inpher. “We’re thrilled to have the support of the Amazon Alexa Fund as we advance privacy-preserving machine learning at a global scale.”
Inpher’s enterprise-ready software platform offers turnkey privacy-preserving capabilities in Multi-Party Computation (MPC), Federated Learning (FL) and Fully Homomorphic Encryption (FHE) for collaborative and mathematically secure computing. With an extensive suite of features and integrations, Inpher continues its industry expansion across financial services, healthcare, IoT and consumer devices.
“We are excited to support Inpher as they continue to pioneer Secret Computing®, further improving consumer and client confidence in data privacy and security controls.” said Paul Bernard, Director of the Amazon Alexa Fund.
Inpher is a New York-based, global Secret Computing® company that powers privacy-preserving machine learning and analytics to unlock the value of sensitive, siloed data and enable secure collaboration across organizations. Data scientists leverage Inpher’s XOR™ SaaS to train and run ML models on deeper and more diverse data while it is encrypted to improve model performance with mathematically guaranteed data privacy and residency. Global enterprises have used XOR in multiple vertical applications across finance, healthcare and IoT. Inpher’s team of recognized leaders in the fields of MPC, FL and HE continue to deliver the fastest, high-precision secure computing capabilities.
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