Bitfount secures £4m seed funding from Ahren and Speedinvest to accelerate product development
Ahren and Speedinvest co-led the seed round to help the data collaboration platform expand its engineering and design teams.
Bitfount provides a federated AI platform that enables secure collaboration between healthcare providers and pharmaceutical companies without sharing sensitive patient data. The technology streamlines clinical research by processing information across electronic health records and medical imaging.
London based privacy platform Bitfount has secured £4m in seed funding to accelerate product development and expand its engineering and design teams. The round was co-led by Ahren and Speedinvest, highlighting surging demand for privacy preserving analytics across regulated sectors like healthcare and finance. The company aims to replace protracted legal negotiations with a secure network that sends algorithms directly to distributed datasets.
From the founder
"Where traditionally the legal process behind sharing raw data between parties can take months or even years, Bitfount’s secure network instead allows algorithms to travel to datasets rather than the other way around, which means there needn’t be any disclosure of sensitive information. This new paradigm unlocks opportunities for both analysis and machine learning that were previously impossible – either because they required sharing of sensitive raw data, or because the contractual agreements were prohibitively complex."
Blaise Thomson
CEO and Co-founder at Bitfount
Investor perspective
"Access to data is increasingly vital for businesses, but in today’s world requires zero trust approaches to data governance. Bitfount enables user-based access control with a product that cuts through the complexity of data collaboration, to help ensure organisations stay ahead from a security, regulatory and commercial perspective. We are proud to be supporting this proven team."
Alice Newcombe-Ellis
Founding and General Partner, Ahren
Use of funds
- 01Continue product development
- 02Grow the team
