Snowflake acquires assets of 11.2 Capital backed CryptoNumerics

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By CPE News

CPE News (7/20/2020) – Snowflake has acquired the assets of CryptoNumerics Inc. The transaction closed last week. Financial terms were not disclosed.

Founded by Monica Holboke, Hassan Bhatti, Jimmy Fan, and Roberto Betancourt, Toronto based CryptoNumerics enables organizations to use data to gain insights while overcoming privacy and data residency issues. Its CN-Protect enables enterprises to create a privacy-protected dataset where privacy risk has been balanced with data quality using AI and differential privacy.

In August 2018, CryptoNumerics raised US $2.5 million in seed funding led by 11.2 Capital with participation of Lux Capital, Silicon Valley Data Capital and others.

San Mateo, California based Snowflake is a cloud-based data warehouse company. Its cloud-built data platform makes that possible by delivering instant elasticity, secure data sharing and per-second pricing, across multiple clouds.

In February 2020, Snowflake closed a US $479 million new round of funding with a valuation of US $12.4 billion.