# Opaque Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/opaque-systems

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.opaque.co
- Total disclosed funding: $55M
- Latest round: Series B (Feb 12, 2026)
- Investors on record: 8

## About

Founded in 2019 and based in Ohio, US, Opaque Systems develops an AI-integrated software that allows enterprises to analyze confidential data in a cloud environment. The company was founded by its CEO Rishabh Poddar, alongside Ion Stoica and Raluca Ada Popa. It was formed out of UC Berkeley, a land-grant university in Berkeley, California. In February 2026, Opaque Systems, Inc. raised USD 24 million in series B funding led by Walden Catalyst, with participation from Intel Capital, Race Capital, Storm Ventures, Thomvest Ventures, and Advanced Technology Academic Research Center. The company will use the funding to speed up development of its data protection platform, add support for new security areas, and expand its team to support enterprise deployments.

The company's product is an online solution that allows enterprises to analyze confidential data in a cloud environment. It offers Opaque Analytics, a solution that allows users to process structured data securely by running Spark SQL and ETL pipelines on data loaded from encrypted CSV files; Opaque Machine Learning, a solution that Securely trains ML models over sensitive data using the XGBoost framework; and Opaque Federated, a solution that provides secure server-side aggregation of various client updates.

The company's revenue is generated by the sales of its software to various enterprises.

## Funding rounds

- Series B, Feb 12, 2026, $24M — Walden Catalyst, Intel Capital, Storm Ventures, Thomvest Ventures, Race Capital, Advanced Technology Academic Research Center
- Series A, Jun 28, 2022, $22M — Walden Catalyst, Intel Capital, Storm Ventures, Thomvest Ventures, The House Fund, Race Capital, Factory HQ
- Seed, Mar 16, 2021, $8.5M — Intel Capital, The House Fund, Race Capital, Factory HQ

## Investors

- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Seed, Series A, Series B
- The House Fund (https://capitalatlas.ai/funds/the-house-fund) — Seed, Series A
- Race Capital (https://capitalatlas.ai/funds/race-capital) — Seed, Series A, Series B
- Factory HQ (https://capitalatlas.ai/funds/factory-hq) — Seed, Series A
- Walden Catalyst (https://capitalatlas.ai/funds/walden-catalyst) — Series A, Series B
- Storm Ventures (https://capitalatlas.ai/funds/storm-ventures) — Series A, Series B
- Thomvest Ventures (https://capitalatlas.ai/funds/thomvest-ventures) — Series A, Series B
- Advanced Technology Academic Research Center — Series B