Data Privacy API Company Skyflow Raises $45M Series B Funding to Help Fintech and Healthtech Companies Ship Faster

PALO ALTO, Calif.--(BUSINESS WIRE)--Skyflow, the leading customer data privacy company, today announced a $45M Series B financing round. Led by New York-based global private equity and venture capital firm Insight Partners, and joined by strategic investors focused on fintech, digital health, and API-first companies. With this new investment, Skyflow has raised over $70M in the last 18 months, and is positioned for rapid growth.

Also investing in the round is Mouro Capital, a venture firm backed by a leading multinational bank, and the venture capital arm of a leading global insurance giant, Mitsui’s MS&AD Ventures. Additionally, existing investors Canvas Ventures and Foundation Capital doubled down on earlier investments; and leading fintech angels such as Coinbase Board Member Gokul Rajaram have personally invested in the company. The company intends to use the new funding to accelerate the growth of its sales, marketing and engineering teams and plans to hire 100 new employees by the end of 2022.

Skyflow radically simplifies how companies manage, access and govern sensitive customer data. The zero-trust data vault with an elegant API allows developers to quickly build applications and workflows without worrying about data security, privacy or compliance. Over the past two years, Skyflow has expanded exponentially and achieved many milestones such as:

• Launched its new Skyflow Data Privacy Vault API
• Hired over 50+ engineers
• Hired and built out leadership team with top executives from companies such as Heroku, Salesforce, Google, Visa and Paypal
• Launched Data Residency globally including Americas, EMEA and APAC
• Unveiled a partnership with VISA and integrations with many fintech companies

What if privacy had an API?

“Skyflow started with a very simple question: What if privacy had an API?” said Anshu Sharma, co-founder and CEO at Skyflow. “The market is flooded with tools that offer a piecemeal approach to security, compliance, and privacy. The fastest growing companies neither have the time nor the desire to buy and integrate point solutions. Skyflow offers a radically simple solution to a complex set of interconnected problems.”

“As an investor in several leading neo-banks and digital health companies, we saw them buying telephony from Twilio, payments from Stripe but re-inventing the wheel on privacy infrastructure,” said George Mathew, Managing Director at Insight Partners, “Skyflow’s zero-trust vault approach seems just so obvious -- after you see it working. Customer after customer we spoke to told us how much they love the product -- and the team. This is the kind of category-creating company we love investing in.”

Data Residency and Global Data Protection

Skyflow customers now include leading North American companies in insure-tech, credit card platforms, clinical trial data, neo-banks, medical device startups -- and many others in the fintech and digital health space.

Further, in response to global demand for data residency solutions, Skyflow has made its vault available across the Americas, APAC, and EMEA -- with live customers such as Spoon Money in India.

"Skyflow's approach is radically simple,” said Kalpesh Kapadia, CEO of Deserve. “An API for all your PII data privacy. It's obvious once you think about it."

"Skyflow gives us a secure data vault, with customizable access controls and PCI compliance built in,” said Ed Cortis, CTO of Unifimoney. “It frees my team to focus on shipping features."

Privacy Data Vault: Zero-Trust Architecture for Everyone

Fintech and healthcare companies have had to devote months or years to building out a privacy infrastructure. With Skyflow’s Data Privacy Vault, companies can be up and running in hours. Skyflow drastically cuts down the time it takes to comply with GDPR, PCI and HIPAA.

Skyflow product offerings include::

• PII Data Privacy Vault
  • Every company with customer sensitive data needs a zero-trust architecture to answer these questions about PII - what, where, when and how?
• Fintech Data Privacy Vault
  • To help fintech companies deal with PCI, GDPR & more.
• Healthcare Data Privacy Vault
  • To help healthcare companies ship faster while navigating HIPAA, GDPR, and automate secure data sharing.

About Skyflow

Founded in 2019, Skyflow is a data privacy vault for sensitive data. Our founders wanted to radically transform how businesses handle their users’ financial, healthcare and other personal data -- the data that powers the digital economy. Inspired by the data vaults that leaders like Apple and Netflix built to handle customer data, our vision was to deliver the same kind of data privacy vault as a simple and elegant API, something any developer could easily build into their application, the same way they use Stripe, Twilio, or Okta. Skyflow is based in Palo Alto, California, with offices in Bangalore, India. For more information, visit http://www.skyflow.com or follow on Twitter and LinkedIn.

About Insight Partners

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.