Cornami, a US-based developer of computing performance enhancement technology, has raised $50m in a series C round led by internet and telecommunications conglomerate SoftBank’s Vision Fund 2.
The round also featured unnamed institutional and existing investors. The company has now secured over $86m in debt and equity financing according to press releases and securities filings, Impact Venture Capital having led a $3m round in 2016 and a $26.4m series B round in April 2020.
Founded in 2012, Cornami has developed technology that improves computing performance, increases scalability, reduces the use of power sources and lowers latency, while optimising security against cybercrime for sensitive intellectual property, financial information, personally identifiable information and intelligence insight.
The company’s Fully Homomorphic Encryption (FHE) technology is able to extract valuable analytics without decrypting the data and exposing its underlying plaintext. It will use the funding to further expand its outbound partner programme activities, while bringing its products to market.
Eric Chen, managing partner at Softbank Investment Advisers, which manages Vision Fund 2, said: “We believe data security and privacy are critical to today’s data-driven economy.
“Cornami’s proprietary programming model and scalable architecture aims to deliver real-time Fully Homomorphic Encryption, which will fundamentally change how data is shared and monetised.”