Skyflow

Company Overview

Skyflow is a data privacy company founded in 2019 to radically transform how businesses handle sensitive customer data. The company provides a data privacy vault with an API interface that allows organizations to protect, store and manage sensitive information like financial, healthcare and personal data.

Skyflow’s mission is to solve the growing data privacy problem by delivering Data Privacy Vaults via a simple API, enabling any app, system or workflow to implement strong data privacy. Their approach is inspired by the zero trust Data Privacy Vaults pioneered by companies like Apple and Netflix.

The company is headquartered in Palo Alto, California and has raised funding from investors including Insight Partners, Canvas Ventures, Foundation Capital and Khosla Ventures.

Products Overview

Skyflow’s core product is their Data Privacy Vault, which provides:

• API-based vault to isolate, protect and govern sensitive data
• Polymorphic encryption to protect data while maintaining its usability
• Governance controls to set granular access policies
• Tokenization to remove PII from systems and replace with tokens
• LLM privacy features to detect and redact sensitive data when using AI models
• Secure workflows for de-identifying data and sharing with third parties

The vault can be used to protect various types of sensitive data including PII, financial data (PCI), healthcare data (PHI), and more. It integrates with existing tech stacks and can be used for use cases like data analytics, support, marketing, etc.

Founding Team

Skyflow was co-founded by:

• Anshu Sharma - CEO, previously VP of product and strategy at Salesforce
• Roshmik Saha - Engineering, previously founded Lyft’s Autonomous Vehicle Platform Team

Problem and Market Fit

Skyflow aims to address the growing challenges around data privacy and security, especially as organizations collect and use more sensitive customer data. Key problems they are solving include:

• Increasing data breaches and privacy violations
• Difficulty complying with data protection regulations (GDPR, CCPA, etc.)
• Challenges using sensitive data while maintaining privacy
• Risks of exposing PII in AI/ML models and analytics

Their vault-based approach allows companies to isolate sensitive data while still being able to utilize it, fitting the needs of organizations that need to both protect and operationalize customer data.

Business Model

Skyflow operates on a B2B SaaS model, providing their Data Privacy Vault solution to enterprises and organizations. They likely charge based on factors like data volume, number of API calls, features used, etc.

Funding and Runway

The company has raised over $80 million in funding, including:

• $30 million Series B in March 2024 led by Khosla Ventures
• $45 million Series A in 2021 led by Insight Partners

This gives them significant runway to continue developing their product and expanding market reach.

Competitive Landscape

Competitors in the data privacy and security space include:

• Other data vaulting solutions like Ethyca and Evervault
• Cloud data protection platforms like Varonis and Imperva
• Tokenization/encryption providers like Protegrity and Thales
• Data governance platforms like Collibra and Alation

Skyflow aims to differentiate through their API-first approach and focus on making data privacy easy to implement for developers.

Customers

While Skyflow doesn’t publicly disclose their full customer list, some of their known customers include:

• GoodRx
• Nomi Health
• SafeWill
• Scalapay
• Unifimoney
• Science37

They serve customers across industries including healthcare, fintech, and ecommerce.

Relevant News

• March 2024: Raised $30 million Series B funding round
• March 2024: Named one of Fast Company’s Most Innovative Companies
• July 2023: Announced rapid expansion in India to address DPDP law requirements
• March 2023: Recognized as one of “America’s Best Startup Employers” by Forbes

Skyflow has been growing quickly and gaining industry recognition as data privacy becomes an increasingly critical concern for enterprises adopting AI and cloud technologies. Their recent funding and expansion indicates strong market traction and plans for continued growth.