Accenture Makes Strategic Investment in TripleBlind to Bolster Data Privacy and Increase Data Collaboration Opportunities
November 18 2020 - 7:59AM
Business Wire
Startup joins Accenture Ventures’ Project
Spotlight program to accelerate go-to-market strategy
Accenture (NYSE: ACN) has made a strategic investment, through
Accenture Ventures, in TripleBlind, a data privacy and virtual
clean room solution provider.
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Accenture invests in TripleBlind, a data
privacy and virtual clean room solution provider (Graphic: Business
Wire)
Sharing and extracting insights from sensitive data, such as
patient records or tax returns can help accelerate cures for
diseases or reduce financial crimes yet concerns around data
privacy and governments regulations have prevented many companies
from identifying these insights to date. TripleBlind helps
enterprises share sensitive information with their stakeholders
more effectively – without ever decrypting the data, helping them
comply with regulatory requirements.
“Organizations can yield valuable insights and unlock trapped
value by combining and collaborating around large volumes and
different types of data, but in order to do this they need to trust
that the privacy of that data is protected,” said Shail Jain,
global lead for Data & AI Group for Accenture Technology. “We
believe that TripleBlind not only has the capabilities to
facilitate collaborative data exchanges, but to also give
organizations confidence that data privacy remains intact.”
TripleBlind is now part of Accenture Ventures’ Project
Spotlight, a deeply immersive engagement and investment program
that targets emerging technology software startups to help the
Global 2000 embrace the power of change and fill strategic
innovation gaps. Project Spotlight offers extensive access to
Accenture’s deep domain expertise and its enterprise clients, to
help startups harness human creativity and deliver on the promise
of their technology. Through the program, TripleBlind will
co-innovate with Accenture at its Innovation Hubs, Labs and Liquid
Studios, working with subject matter experts to bring its solutions
to market more quickly and more effectively.
“The global market for big data and business analytics is
projected to reach more than $500 billion by 2026. As that market
grows, the pressure within enterprises to share data to uncover new
revenue opportunities and gain competitive advantage will grow as
well,” said Riddhiman Das, co-founder and CEO of TripleBlind.
“TripleBlind’s next-generation cryptographic, efficient and
scalable data privacy and virtual clean room solution can replace
ineffective workarounds like complex legal contracts, data
anonymization or deidentification, and other technologies such as
homomorphic encryption, while helping to avoid regulatory statutes
and data residency violations. Accenture Ventures’ investment and
our participation in its Project Spotlight program will advance and
accelerate our ability to help enterprises harness the potential of
sensitive data.”
Tom Lounibos, managing director, Accenture Ventures, added, “Our
investment in TripleBlind demonstrates Accenture Ventures’
commitment to cultivating the latest technologies, enhanced by
human ingenuity, that solve for our clients’ most critical business
needs. We believe that TripleBlind offers our clients a key to
enhancing data privacy while ensuring regulatory compliance – a
major challenge in today’s environment."
TripleBlind is the latest addition to the investment portfolio
of Accenture Ventures, which is focused on investing in companies
that create or apply disruptive enterprise technologies.
Terms of the investment were not disclosed.
About TripleBlind
TripleBlind was founded in 2019 and is headquartered in Kansas
City. It’s new data privacy and virtual clean room solution enables
enterprises to leverage regulated data, such as PII and PHI, and
enterprise-sensitive data without violating GDPR, HIPAA, the
California Consumer Privacy Act (CCPA), data residency and other
standards. For more information, please visit tripleblind.ai.
About Accenture
Accenture is a global professional services company with leading
capabilities in digital, cloud and security. Combining unmatched
experience and specialized skills across more than 40 industries,
we offer Strategy and Consulting, Interactive, Technology and
Operations services—all powered by the world’s largest network of
Advanced Technology and Intelligent Operations centers. Our 506,000
people deliver on the promise of technology and human ingenuity
every day, serving clients in more than 120 countries. We embrace
the power of change to create value and shared success for our
clients, people, shareholders, partners and communities. Visit us
at www.accenture.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20201118005370/en/
Christina McDonald Accenture +1 415 537 7997
christina.mcdonald@accenture.com
Victoria Guimarin UPRAISE Marketing + PR for TripleBlind +1 415
397 7600 tripleblind@upraisepr.com
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