# OpenMined

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/openmined

- Industry: Internet
- Headquarters: Oxford, UK
- Website: www.openmined.org
- Total disclosed funding: $3M
- Latest round: Seed (Jan 22, 2020)
- Investors on record: 2

## About

OpenMined is a non-profit organization dedicated to developing open-source tools that empower users to create and deploy privacy-preserving applications, enhancing data governance and security across various sectors.Founded in 2017 in Oxford, UK, OpenMined focuses on privacy-preserving technology solutions. The organization was established as a non-profit foundation and does not operate under a parent company. OpenMined raised USD 3.000 mn in Seed funding from Battery Ventures and Saban Ventures on January 22, 2020, bringing the total amount raised to USD 3.000 mn. The company has completed one deal to date.OpenMined is primarily focused on developing open-source solutions that facilitate the creation and deployment of privacy-preserving applications. Their core offerings include the PySyft library, which enables secure and private data sharing through advanced cryptographic techniques, and the SyftBox, a platform designed for collaborative data science without compromising user privacy. These tools are aimed at addressing significant challenges in data governance, particularly in sectors where sensitive information is prevalent. OpenMined serves a diverse clientele that includes data scientists, researchers, and companies across various industries, focusing on markets in North America and Europe. The organization actively engages in partnerships with notable entities such as Google and PyTorch to enhance the accessibility and effectiveness of differential privacy technologies and other privacy-enhancing technologies (PETs).OpenMined operates as a 501(c)(3) non-profit foundation, which suggests that its revenue generation model revolves around donations and grants rather than traditional sales or subscription models. Transactions with clients and partners typically involve securing funding through philanthropic contributions aimed at advancing privacy technology and open-source initiatives. While specific pricing plans for their flagship products and services are not disclosed, the foundation's focus on community engagement and collaboration indicates a reliance on partnerships and sponsorships to support its mission. Revenue is likely allocated towards research, development, and community-building efforts, reinforcing their commitment to creating a public network for non-public information while maintaining accessibility to privacy-preserving technologies.Following the recent Seed funding round in January 2020, OpenMined intends to allocate resources to enhance their product offerings, particularly the PySyft library and SyftBox, with updates anticipated in late 2023. The organization is also planning to expand its reach into additional markets in Europe and Asia by mid-2024, aiming to increase its user base and collaboration opportunities. The funding received will support these initiatives and further the development of privacy technologies to meet growing global demands.

## Funding rounds

- Seed, Jan 22, 2020, $3M — Battery Ventures, Saban Ventures

## Investors

- Battery Ventures (https://capitalatlas.ai/funds/battery-ventures) — Seed
- Saban Ventures (https://capitalatlas.ai/funds/saban-ventures) — Seed