BeeKeeperAI Receives $12M Funding for Secure AI Development on Sensitive Data: BeeKeeperAI, a San Francisco-based company, has secured $12.1 million in Series A funding for its secure collaboration platform designed for AI development on sensitive data, particularly in the healthcare sector.
The platform enables AI developers to work with privacy-protected data stewards and ensures HIPAA compliance.
Key Takeaways to BeeKeeperAI Receives $12M Funding for Secure AI Development on Sensitive Data:
Table of Contents
- BeeKeeperAI raises $12.1 million in Series A funding for its secure collaboration platform for AI development on sensitive data.
- The platform integrates with Microsoft Azure confidential computing and enables HIPAA-compliant research on healthcare data.
- BeeKeeperAI’s solution utilizes a secure enclave environment to protect encrypted data and algorithms, generating only predetermined outputs.
BeeKeeperAI, based in San Francisco, has successfully raised $12.1 million in Series A funding to support the development of its secure collaboration platform. The platform focuses on facilitating AI development on sensitive data, with a particular emphasis on healthcare applications.
Secure Collaboration for AI Development
BeeKeeperAI has developed a zero-trust collaboration platform that enables AI developers to work alongside privacy-conscious data stewards, specifically those managing sensitive healthcare information.
The company’s flagship product, EscrowAI, seamlessly integrates with Microsoft Azure confidential computing, ensuring compliance with HIPAA regulations for conducting research on sensitive patient data.
Secure Computing Container and Protected Environment
Using BeeKeeperAI’s platform, AI algorithm owners can submit their work, which is then encapsulated within a secure computing container. This container is sent to the environment of the sensitive data owner, where the respective data is securely added.
The platform facilitates the secure integration of the algorithm and data for joint processing.
Preserving Data Privacy
To maintain data privacy, only a report generated by running the AI algorithm against the data is permitted to leave the secure environments. Once the computation is complete, the secure environments are destroyed.
The generated report provides insights into the algorithm’s performance and the general characteristics of the data while preserving privacy.
Leveraging Hardware-Based Secure Enclave Environment
BeeKeeperAI’s platform relies on a hardware-based secure enclave environment to bring together encrypted data and algorithms. Within this protected memory, the encrypted components are decrypted and processed.
Only predetermined outputs, as specified by the data owner, are allowed to exit the secure enclave, ensuring the highest level of security.
Funding and Future Plans
The Series A funding round was led by Sante Ventures, with participation from notable organizations such as the Icahn School of Medicine at Mount Sinai, AIX Ventures, Continuum Health Ventures, TA Group Holdings, and UCSF.
The investment will be utilized to enhance BeeKeeperAI’s platform and expand its commercial operations, further strengthening its position in the market.
Conclusion to BeeKeeperAI Receives $12M Funding for Secure AI Development on Sensitive Data:
With the successful funding round, BeeKeeperAI is well-positioned to continue developing its secure collaboration platform for AI development on sensitive data.
By leveraging the power of hardware-based secure enclave environments and partnering with industry leaders, BeeKeeperAI aims to provide a robust solution for AI developers and data stewards, particularly in the healthcare sector.
The investment not only enables platform improvements but also supports the company’s expansion and continued commitment to safeguarding sensitive data in AI-driven applications.
