Privacy Analytics Inc., an Ottawa, Ontario, Canada-primarily based company of statistics anonymization solutions, raised $3.5m in funding.
The spherical was led through Vanedge Capital, which joined the BDC IT Venture Fund and the Ontario Institute for Cancer Research (OICR) as number one investors. V. Paul Lee, Managing Partner for Vanedge, will be part of the business enterprise’s board of directors.
The business enterprise intends to apply the budget to boom income and advertising efforts, in addition to bolster improvement of its PARAT software program product line.
Founded in 2007 through Khaled El Emam, CEO, Privacy Analytics presents businesses with company software program to protect and permit statistics for secondary functions the use of a risk-based technique that optimizes the analytic software of anonymized statistics sets.
Its PARAT automates the anonymization of dependent and unstructured records from multiple sources in compliance with HIPAA and different regulatory requirements.
Customers encompass healthcare companies, academic and research companies, together with The Center for Clinical Excellence at Mount Sinai in New York City and the Better Outcomes Registry and Network (BORN) Registry withinside the province of Ontario.
