What We Plan To Do With The $5 Million We Raised

Pyte has hit a substantial growth milestone with an additional $5 million in funding, pushing total capital over $12 million. This investment, led by Myriad Venture Partners and supported by notable entities like Innovation Endeavors, Liberty Mutual Strategic Ventures, and Pillar VC, underscores Pyte's significant role at the intersection of privacy and security in the data landscape.

At Pyte, we firmly believe that data collaboration drives innovation and business agility. But organizations must use a secure solution to ensure that data remains private, protected, and compliant - which drives up business costs. 

For lack of solutions, many organizations fail to use their data effectively. But as our founder, Sadegh Riazi says, “You can’t get value from data you don’t use.”

That’s why we’ve leveraged Secure Multiparty Computation (SMPC) and Trusted Execution Environment (TEE) technologies, honed from a decade of cryptography research, to develop software that can analyze data across teams without exposing sensitive information, without moving the data in plaintext and without making the data visible. This enterprise technology not only preserves privacy but also mitigates risks associated with data breaches and intellectual property theft.

Our latest funding milestone will allow Pyte to expand into highly regulated sectors like financial services, healthcare and insurance, aiming to democratize secure data utilization amidst stringent privacy regulations. 

We’re also thrilled to announce that Dean Mai, co-founder and managing partner at Myriad, will join Pyte's board with his deep tech and global operations expertise.

Check out the full press release here. 

As digital transformation continues to evolve, Pyte is at the forefront, enabling enterprises to leverage their data securely and efficiently.

For more on how Pyte is revolutionizing data collaboration, visit here.