# Duality Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/duality-technologies

- Industry: Software
- Headquarters: Newark, US
- Website: www.dualitytech.com
- Total disclosed funding: $46M
- Latest round: Series B (Oct 5, 2021)
- Investors on record: 6

## About

Duality Technologies Inc., based in Newark, US, specializes in secure data collaboration and privacy-preserving data analysis through advanced technologies such as Fully Homomorphic Encryption and Federated Learning.Founded in 2016 in Newark, US, Duality Technologies Inc. focuses on enabling organizations to analyze sensitive data securely. The company's latest funding round, Series B, occurred on November 13, 2018, where it raised USD 30.00 mn led by LG Technology Ventures, contributing to a total amount raised of USD 30.00 mn and a current valuation of USD 129.23 mn. The company's founders include Alon Kaufman, who also serves as CEO, and several others with no prior founding history documented.Duality Technologies offers a robust platform designed for secure data collaboration and privacy-preserving data analysis. Central to its offerings are the Duality Query and Duality ML products, allowing organizations to run encrypted queries on sensitive datasets without exposing the underlying data. These solutions utilize advanced Privacy Enhancing Technologies (PETs) such as Fully Homomorphic Encryption (FHE) and Federated Learning, catering to businesses in finance, healthcare, and government, enabling them to undertake data-driven projects while ensuring compliance with data protection regulations. Duality serves clients globally, including financial institutions, healthcare providers, and government agencies, and is active in the North America, Europe, and Asia markets.Duality Technologies generates revenue through a subscription-based model for its software solutions, granting clients access to its privacy-preserving technologies on a recurring basis. Clients, which include banks, medical centers, and governmental organizations, utilize the platform to collaboratively analyze sensitive data without moving or exposing it. Transactions typically involve clients subscribing to services at negotiated rates, benefiting from encrypted data processing and industry-specific analytics capabilities. Strategic partnerships with major technology providers enhance the platform’s functionality, supporting innovative data collaborations and fostering long-term client relationships centered on ongoing support and compliance.In July 2022, Duality Technologies Inc. raised USD 85.00 mn in venture funding from investors including Walmart, Airbus, Microsoft, Softbank, Nokia, Barclays, Munich Re, Cisco, and AT&T, along with returning investor Team8. The funding is earmarked to advance homomorphic encryption technology from lab development to practical application. Future plans include expanding into new markets and regions, with specific targets not yet disclosed. The recent funding will support these strategies, focusing on making advanced encryption solutions more accessible in real-world scenarios.

## Funding rounds

- Series B, Oct 5, 2021, $30M — Intel Capital, Hearst Ventures, Euclidean Capital, Team8 Capital, LG Technology Ventures, NAVentures
- Series A, Sep 24, 2019, $16M — Intel Capital, Hearst Ventures, Team8 Capital

## Investors

- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series A, Series B
- Hearst Ventures (https://capitalatlas.ai/funds/hearst-ventures) — Series A, Series B
- Team8 Capital (https://capitalatlas.ai/funds/team8-capital) — Series A, Series B
- Euclidean Capital — Series B
- LG Technology Ventures (https://capitalatlas.ai/funds/lg-technology-ventures) — Series B
- NAVentures (https://capitalatlas.ai/funds/naventures) — Series B