Cornami Closes Over $68M Funding in Oversubscribed Series C
CAMPBELL, Calif., May 17, 2022 -- Cornami, Inc., Cornami, named for a “tsunami of cores”, announced today the closing of more than $68 million in its oversubscribed Series C funding led by SoftBank Vision Fund 2. This includes strong participation from Impact Venture Capital and Octave Ventures with support from existing investors and insiders together with the previously announced strategic investment from Applied Ventures, LLC.
Cornami has developed a software-defined next-generation TruStream Computational Fabric architecture that can scale performance without penalties to deliver real-time computing for several critical and complex applications. The company’s unique technology lowers power consumption and latency, while vastly scaling the performance for today’s massive datasets whether at the edge or the cloud. This includes, most notably, accelerating Fully Homomorphic Encryption (FHE) for quantum secure privacy-preserving computing on encrypted data sets, which is vital for cloud security.
FHE offers the capability to perform arbitrary operations on encrypted data, delivering an elegant solution to one of the largest and most challenging security vulnerabilities in cloud computing today, decryption of data during use. FHE removes this exposure to costly breaches and cybercrime because the underlying confidential plaintext data remains encrypted. In other words, assume computing environments are compromised so protect the data.
Today’s Internet driven economy continues to produce increasing amounts of data. We live in an era of data intelligence with machine learning (ML) and artificial intelligence (AI). The ability to share/monetize these models without revealing confidential data creates a major advance for intelligent insights enabling large market opportunities in highly regulated markets. Think of medical multi-party studies benefiting from large sets of pooled patient data to accelerate breakthrough treatments, or cross-border data sharing between financial institutions for real-time fraud detection. This delivers extraordinary value, all while protecting data privacy. The ability to enable secure collaboration across organizational and jurisdictional boundaries is vital to the digital economy.
The deployment challenge to date for FHE is that it is computationally intensive and therefore commercially impractical on conventional processors. Cornami shifts the paradigm based on its unique and scalable compute fabric capabilities to process these encrypted datasets in real-time at market prices.
“The availability of practical FHE is a game-changer to the cloud computing marketplace and the entire information processing industry,” stated Dr. Walden (Wally) Rhines, CEO of Cornami. “Today, it is impossible to guarantee hack-proof firewalls, secure operating systems, processors without embedded trojans, or internal risk from employees in computing environments. Privacy and data security become achievable goals with FHE, allowing for a wide range of services to become accessible while maintaining full confidentiality of the data, the application, and service results,” Dr. Rhines added.
“We believe the Age of Intelligence is being propelled by our ability to efficiently extract knowledge and insight from data,” said Dr. Eric Chen, Managing Partner at SoftBank Investment Advisers. “Cornami’s unique scalable computing architecture aims to deliver real-time Fully Homomorphic Encryption, which can fundamentally enhance capabilities for industries to drive economic growth, scientific discovery, and innovation. We look forward to working with Dr. Rhines and the Cornami team to make this a reality.”
“Cornami’s technology has a unique ability to address today’s real-time high performance computing requirements along with programming flexibility for large growing markets like cybersecurity, artificial intelligence, and cloud computing,” said Jack Crawford, Founding General Partner of Impact Venture Capital. “The Cornami management team has delivered new technologies successfully to market multiple times throughout their careers. As early investors in Cornami, we are thrilled to continue investing alongside value-adding investors including SoftBank, Octave Ventures, and Applied Ventures.”
Series C funding will allow Cornami to increase its outbound customer and partner activities as it focuses on bringing its products to market.
About Cornami
Cornami is focused on the deployment of intelligent computing in real-time environments. The company has developed a massively parallel reconfigurable computational fabric architecture to address the shift in computing needs for the ever-increasing massive datasets of today, and into the future. Its game-changing, software-defined TruStream technology delivers unprecedented linear scalability from thousands of cores on a single chip to millions across a system to meet performance, cost, and power requirements for today’s complex applications. Visit www.cornami.com.
Source: Cornami
