Skyflow raises $30M more as AI spikes demand for its privacy business
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Skyflow, a data privacy startup, has raised a $30 million Series B extension led by Khosla Ventures. The new capital comes after Skyflow expanded its data privacy business to support new AI technologies. The startup saw its revenues from large language model–related usage grow from 0% to around 30% more recently. Skyflow's business is an API that stores personally identifying information (PII) on behalf of customers. The company previously raised a $45 million Series B in 2021 and used a portion of that capital to build out its regional footprint. The round is called an extension instead of a Series C to better tune the fundraising process. Skyflow more than doubled in size last year, expanding its revenues by 110%. The round reflects several trends, including startups seeking more modest capital follow-on rounds, the growth of AI creating healthy businesses for data privacy companies, and the success of API-based tools.

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https://techcrunch.com/2024/03/28/skyflow-raises-30m-ai-spikes-privacy-business/