TechCrunch reports that startup Opaque raised $9.5 million in a seed funding round to support its development of a solution that enables secure storage of data in the cloud even when multiple entities have access, such as cloud providers or other organizations.
Opaque President Raluca Ada Popa explained that the company's solution employs hardware called Enclave, which enables data decryption only at the processor level, "So even if somebody has administrative privileges in the cloud, they can only see encrypted data."
Co-founder Ion Stoica said the product solves enterprises' conflicting desires to make use of their data while also maintaining data privacy.
The method of combining "secure hardware enclaves and cryptographic fortification" allows users to control access to their data even as they are working on it in the cloud, according to the company.
Popa said the solution would be useful in the medical field, for example, with cancer researchers who are developing treatment options but must be careful not to expose patient data.
Opaque President Raluca Ada Popa explained that the company's solution employs hardware called Enclave, which enables data decryption only at the processor level, "So even if somebody has administrative privileges in the cloud, they can only see encrypted data."
Co-founder Ion Stoica said the product solves enterprises' conflicting desires to make use of their data while also maintaining data privacy.
The method of combining "secure hardware enclaves and cryptographic fortification" allows users to control access to their data even as they are working on it in the cloud, according to the company.
Popa said the solution would be useful in the medical field, for example, with cancer researchers who are developing treatment options but must be careful not to expose patient data.
