Series A28 March 2023

Hazy raises $9m in Series A funding led by Conviction to scale operations

The Series A round was led by Conviction with participation from numerous strategic and venture capital investors.

$9.0MSeries A

Hazy develops synthetic data software that removes privacy risks, allowing enterprises to utilise sensitive information securely. The London based firm originally spun out of University College London in 2017.

Synthetic data provider Hazy has raised $9m in a Series A funding round led by Conviction. The investment will support the company as it expands its operations across the UK, Europe and the US, alongside further investment in product development and engineering.

Participation in the round came from a broad group of backers including UCL Technology Fund, M12, Wells Fargo, Nationwide Building Society, ACT Venture Partners, Terra VC, Evenlode, Logo Ventures, Sarus Ventures and Neva SGR. The fresh capital follows previous backing that included winning the Microsoft Innovate AI prize.

Hazy uses artificial intelligence to generate smart synthetic data that mimics the statistical qualities of real information without exposing personal details. The company counts major financial institutions among its client base as demand grows for privacy compliant data solutions.

From the founder

"The response from businesses to the capabilities of synthetic data has been huge. Enabling our customers to access and actually use their data unlocks real commercial value. Hazy has been working in the generative AI field since our inception in 2017 and we are excited to see where the space goes. This funding will solidify our position as the leading synthetic data provider for enterprises to unlock value through their data and enable us to explore the greater potential of generative AI to produce real results for businesses, with no privacy limitations."

Harry Keen

Co-Founder and CEO at Hazy

Investor perspective

"With generative AI pushing technology into a realm thought to be unique to the human mind, there’s never been a more exciting time for a company like Hazy to remain at the forefront of such innovation. Harry and the team have demonstrated immense motivation and potential since the start, with some great achievements to date and an impressive product that enables enterprise firms to unlock the incredible amount of value from their data. We are delighted to partner with them for the next stage of their exciting journey."

Will Orde

Partner, Conviction