June 14, 2024 at 03:00AM
Pyte, a startup focused on secure data collaboration, has secured a $5 million investment from Myriad Venture Partners, Innovation Endeavors, Liberty Mutual Strategic Ventures, and Pillar VC. Its Secure Multiparty Computation technology allows enterprises to collaborate on sensitive data without risking exposure. The funding will drive commercialization efforts, particularly in healthcare and financial services sectors.
Key takeaways from the meeting notes are:
– Pyte, a startup providing secure data collaboration solutions, has recently raised $5 million, bringing its total funding to over $12 million.
– The latest investment round was led by Myriad Venture Partners, with participation from other notable firms.
– Pyte has developed a secure computation platform using Secure Multiparty Computation (SMPC) technology, enabling enterprises to collaborate on sensitive data without risk.
– The funding will be used to drive commercialization efforts in new industries, particularly healthcare and financial services.
– Industry experts, such as Lynne Schneider of IDC, express confidence in Pyte’s ability to allow companies to pursue data collaboration opportunities without compromising data security.
These are the main points from the meeting notes. Let me know if you need additional information.