Privacy engineering-as-a-service startup Gretel Labs Inc. revealed today that it has raised $50 million in new funding to fuel innovation, accelerate growth and expand into new use cases linked to data privacy.

Anthos Capital led the Series B round. Also participating in the round were Section 32, Greylock and Moonshots Capital. Including the new funding, Gretel has raised $65.5 million to date.

Founded in 2020, Gretel offers a data categorization and identification platform designed to test anonymized versions of a data set automatically. The platform enables developers to synthesize, transform and classify data with an easy-to-use suite of tools and application programming interfaces that eliminate data privacy issues through safe data sharing.

Gretel says its platform allows developers and data practitioners to implement intelligent, high-quality data privacy measures so they can quickly and safely innovate with data. The service is claimed to do so at a fraction of the time, cost and risk to their users’ privacy and brand.

Under the hood, the platform users artificial intelligence and machine learning techniques to provide accurate, private and high-quality synthetic data with significant time savings for engineers. Machine learning is used to categorize data across names, addresses and other customer identifiers and features automatic data labeling, power testing and synthetics with support for experimentation, collaboration and building with customer data.

With the new funding, Gretel says it will continue to advance the AI capabilities of its platform to support customer use cases in the life sciences, financial, gaming and technology industries. In one example, health-tech companies are looking to enable information sharing and monetize data while protecting patient’s privacy and minimizing biases that could be inadvertently learned by algorithms trained on shared datasets.

“The drive behind the last two decades of investment in cloud-native and developer tooling has been to power high-velocity development in ML/AI, IoT and all applications which requires access to enormous volumes of data that is bound by ethics, privacy regulations and public trust, ” Ali Golshan, co-founder and chief executive officer of Gretel.ai, said in a statement. “At Gretel, we are building tools that enable privacy by design, which in turn provides fast and easy access to data that fuels innovation with privacy by building it into the fabric of applications.”

Gretel is currently available in open beta and allows developers to sign up and start building for free.

Image: Gretel