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Gretel announces $12M Series A to make it easier to anonymize data

As companies work with data, one of the big obstacles they face is making sure they are not exposing personally identifiable information (PII) or other sensitive data. It usually requires a painstaking manual effort to strip out that data. Gretel, an early stage startup, wants to change that by making it faster and easier to anonymize data sets. Today the company announced a $12 million Series A led by Greylock. The company has now raised $15.5 million.

Gretel co-founder and CEO Alex Watson says that his company was founded to make it simpler to anonymize data and unlock data sets that were previously out of reach because of privacy concerns.

“As a developer, you want to test an idea or build a new feature, and it can take weeks to get access to the data you need. Then essentially it boils down to getting approvals to get started, then snapshotting a database, and manually removing what looks like personal data and hoping that you got everything,”

Watson, who previously worked as a GM at AWS, believed that there needed to be a faster and more reliable way to anonymize the data, and that’s why he started Gretel. The first product is an open source, synthetic machine learning library for developers that strips out personally identifiable information.

“Developers use our open source library, which trains machine learning models on their sensitive data, then as that training is happening we are enforcing something called differential privacy, which basically ensures that the model doesn’t memorize details about secrets for individual people inside of the data,” he said. The result is a new artificial data set that is anonymized and safe to share across a business.

The company was founded last year, and they have actually used this year to develop the open source product and build an open source community around it. “So our approach and our go-to-market here is we’ve open sourced our underlying libraries, and we will also build a SaaS service that makes it really easy to generate synthetic data and anonymized data at scale,” he said.

As the founders build the company, they are looking at how to build a diverse and inclusive organization, something that they discuss at their regular founders’ meetings, especially as they look to take these investment dollars and begin to hire additional senior people.

“We make a conscious effort to have diverse candidates apply, and to really make sure we reach out to them and have a conversation, and that’s paid off, or is in the process of paying off I would say, with the candidates in our pipeline right now. So we’re excited. It’s tremendously important that we avoid group think that happens so often,” he said.

The company doesn’t have paying customers, but the plan is to build off the relationships it has with design partners and begin taking in revenue next year. Sridhar Ramaswamy, the partner at Greylock, who is leading the investment, says that his firm is placing a bet on a pre-revenue company because he sees great potential for a service like this.

“We think Gretel will democratize safe and controlled access to data for the whole world the way Github democratized source code access and control,” Ramaswamy said.

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EU’s Google-Fitbit antitrust decision deadline pushed into 2021

The deadline for Europe to make a call on the Google -Fitbit merger has been pushed out again — with EU regulators now having until January 8, 2021, to take a decision.

The latest change to the provisional deadline, spotted earlier by Reuters, could be the result of one of the parties asking for more time.

Last month the deadline for a decision was extended until December 23 — potentially pushing the decision out beyond a year after Google announced its intention to buy Fitbit, back in November 2019. So if the tech giant was hoping for a simple and swift regulatory rubberstamping its hopes have been diminishing since August when the Commission announced it was going to dig into the detail. Once bitten and all that.

The proposed Fitbit acquisition also comes as Alphabet, Google’s parent, is under intense antitrust scrutiny on multiple fronts on home turf.

Google featured prominently in a report by the House Judiciary Committee on big tech antitrust concerns earlier this month, with US lawmakers recommending a range of remedies — including breaking up platform giants.

European lawmakers are also in the process of drawing up new rules to regulate so-called ‘gatekeeper’ platforms — which would almost certainly apply to Google. A legislative proposal on that is expected before the end of this year, which means it may appear before EU regulators have taken a decision on the Google-Fitbit deal. (And one imagines Google isn’t exactly stoked about that possibility.)

Both competition and privacy concerns have been raised against allowing Google get its hands on Fitbit users’ data.

The tech giant has responded by offering a number of pledges to try to convince regulators — saying it would not use Fitbit health and wellness data for ads and offering to have data separation requirements monitored. It has also said it would commit to maintain third parties’/rivals’ access to its Android ecosystem and Fitbit’s APIs.

However rival wearable makers have continued to criticize the proposed merger. And, earlier this week, consumer protection and human rights groups issued a joint letter — urging regulators to only approve the takeover if “merger remedies can effectively prevent [competition and privacy] harms in the short and long term”.

One thing is clear: With antitrust concerns now writ large against ‘big tech’ the era of ‘friction-free’ acquisitions looks to be behind Google et al.

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