UK – Klarytee, a London, UK-based provider of a software platform that builds security into the data itself for large organisations to handle sensitive information, raised £700K in Pre-Seed funding.
The round was led by Concept Ventures, with participation from angel investors Micheal Coates, Evelyn Bourke, Brad Cable, and Desigan Chinniah.The company intends to use the funds to provide protection against leaks for sectors that handle sensitive material.Founded by Dr Nithin Thomas, Klarytee provides businesses with encryption and access control which is built into their sensitive data to ensure that no matter where information goes it remains secure, with the organisation retaining complete visibility of who has access to it. The local Large Language Model (LLM) integrated into Klarytee scans for sensitive information and applies protection by default to ensure sensitive data cannot be exposed to unauthorised access, including cloud AI platforms such as ChatGPT. The company graduated from Accenture Fintech Innovation Lab London as part of its 2023 cohort and is a Microsoft Partner, launching its first product as an add-in for Microsoft Office. As a Microsoft Partner, Klarytee has developed an add-in for Microsoft Word that can be directly integrated into the document workflow to enable one-click encryption, decryption and authentication. Once an authenticated user decrypts the data, it only exists within the memory of their device or application and is permanently erased once that app or device is closed. Customers are already using Klarytee in cases where organisations need to share sensitive information on a privileged basis, such as investment banking deal teams, or when leveraging SaaS and public cloud services such as generative AI. 05/12/2023
