Samooha Announces $12.5M Series A Funding for Secure Data Collaboration
SAN FRANCISCO, Feb. 2, 2023 — Samooha, a multi-vertical secure data collaboration application company, announced a $12.5 million Series A round led by Altimeter Capital, Snowflake Ventures and a strategic community of angel investors.
The Samooha application is brought to market as Data Clean Rooms (DCRs) with support for key industry-specific use cases across healthcare, financial services, advertising media and entertainment verticals. As a Native Application on Snowflake, Samooha builds upon and extends the privacy-preserving collaboration capabilities of the Data Cloud, and the Snowflake ecosystem of partners and solutions that enable a rapid pace of innovation.
Samooha disrupts the consumption patterns of most sophisticated collaboration-based data applications with a no-code UI interface to access and build cleanroom applications. This increases access to data-driven insights for non-technical users, like analysts, business operations professionals, etc. in an enterprise. At the same time, it also allows for enterprise developers to unleash their creativity and publish their own analytics, AI/ML templates using the developer mode access to the application.
Privacy-preserving technologies have gained significant depth and importance across industries where value creation is intrinsically tied to data collaboration across different roles, teams, and internal and external partners in a business’ ecosystem. The modern data stack, among others, enables this value creation by bringing compute to data and federating workloads across participants.
The financing will enable Samooha, as a part of its multi-industry category strategy, to increase penetration and adoption across the advertising, media and entertainment category while establishing presence in newer categories such as healthcare and financial services. With growing announcements from BigTech platforms around data clean rooms, there is a critical need for interoperability and ease of use for enterprises and its constituent users. Samooha is uniquely positioned to solve for this from a technology perspective paving the way for a new paradigm for secure data collaboration.
“We are humbled and excited to have the support of astute investors like Altimeter Capital and Snowflake Ventures, who have backed the vision of the modern data stack,” said Kamakshi Sivaramakrishnan, founder and CEO of Samooha.
“Our vision is to make trusted, secure data collaboration a consumer-grade application across all data infrastructures to safely share data, collaborate and run analytics, data science, and machine learning/AI workloads,” said Abhishek Bhowmick, co-founder and CTO at Samooha.
“We are excited to partner with Samooha in their journey to transform data collaboration and create unique opportunities across industries for further collaboration in the Snowflake Data Cloud. Samooha is at the forefront of a new wave of innovation leveraging the unique capabilities of our platform,” said Christian Kleinerman, senior vice president of product at Snowflake.
“Data is oxygen to the Age of AI – but to capture the true value of data – it needs to be frictionless and shareable. Unfortunately, as all data moves to the cloud, it is being re-siloed with increasingly restrictive limits on sharing due to enterprise governance and privacy policies. Samooha is solving this problem by creating a zero trust, encrypted multiparty computation environment across clouds. This data sharing lane or encrypted clean room will allow companies to benefit from the insights of modern machine learning by running the workloads right in the encrypted environment without ever having moved the underlying data.” said Brad Gerstner, Samooha Board Member and Founder of Altimeter.
For more information on Samooha’s innovative technology and vertical solutions, visit samooha.tech.
Samooha, enabled by secure and private multiparty computing technologies, offers a low-code, no-code application for secure, cross-cloud data collaboration. As a clean room application, this is delivered by bringing the application to the source of data, eliminating any need for data migration and creating an integrated value in the warehouse and cloud layer itself. Starting as a native application on Snowflake, Samooha serves as a platform wherein an entire developer ecosystem is empowered to build powerful applications anchored around data collaboration. This fuels a rich data economy unlocking previously untapped enterprise value.