Opaque Systems is a technology company.
Opaque Systems has raised $56.0M across 3 funding rounds.
Opaque Systems has raised $56.0M in total across 3 funding rounds.
Opaque Systems is valued at approximately $3.0M.
Opaque Systems has raised $56.0M in total across 3 funding rounds.
Opaque Systems is valued at approximately $3.0M.
Opaque Systems's investors include Walden Catalyst, Accenture Ventures, Advanced Technology Research Council, Intel Capital, Race Capital, Storm Ventures, Thomvest Ventures, Afore Capital, Asymmetric, Geodesic Capital, Solana Ventures, super{set}.
Opaque Systems is a technology company specializing in confidential AI and analytics platforms that enable secure collaboration on encrypted sensitive data using confidential computing. It builds tools like Opaque Workspaces, Opaque Gateway, and confidential agents for running AI workloads—such as training models, inference, RAG (Retrieval-Augmented Generation), and agentic workflows—while keeping data encrypted at rest, in transit, and in use via Trusted Execution Environments (TEEs) and cryptographic techniques.[1][2][3][4][5][7] Opaque serves enterprises in finance, insurance, high-tech, healthcare, and ad tech, solving the core problem of data silos caused by privacy regulations (e.g., GDPR, HIPAA) by allowing multi-party analytics and AI without exposing PII or SHI data, thus accelerating AI adoption while ensuring compliance and sovereignty.[1][2][3][5] Early growth includes a $22M Series A in 2022 and partnerships with major financial institutions for anti-financial crime use cases, plus integrations with Azure, Spark, Python, and LangGraph.[1][2][3]
Opaque Systems emerged from UC Berkeley's RISELab, where founders including Raluca Ada Popa invented the MC2 open-source project for secure multi-party computation on encrypted data.[1][2][4] Popa, a cofounder, noted the shift from research to startup was driven by enterprise demand for handling confidential data amid rising privacy regulations, transforming academic tech into a commercial platform.[2] Key early milestones include the 2022 unveiling of the Opaque platform post-Series A funding and initial traction with North American banks for cross-institution financial crime detection, where competing entities share insights without revealing proprietary data.[1][2] Pioneers from RISELab commercialized this to address real-world gaps in collaborative analytics.[4]
Opaque rides the confidential computing trend, amplified by AI's data hunger clashing with stringent regulations like GDPR and emerging AI privacy laws, enabling "privacy-first AI" amid data sovereignty demands.[1][2][4][5] Timing is ideal post-2022 funding, as enterprises face LLM risks (e.g., prompt leaks) and silos blocking agentic AI/RAG on proprietary datasets.[3][5][6] Market forces favoring it include cloud giants like Azure integrating confidential tech, rising financial crime sophistication requiring bank collaborations, and AI's shift to production-scale needing verifiable trust over black-box models.[2][3] Opaque influences the ecosystem by open-sourcing roots (MC2), partnering for hardware-rooted pipelines, and proving scalable confidential AI reduces innovation-security tradeoffs, potentially standardizing encrypted-in-use computing.[1][4][7]
Opaque is poised to dominate as confidential AI becomes table stakes for regulated industries, expanding from analytics to agentic systems with RAG and guardrails on sensitive data.[4][5] Trends like multimodal AI, stricter global regs, and sovereign clouds will propel growth, with integrations accelerating enterprise pilots into production.[3][5] Its influence may evolve into the de facto "AI trust layer," powering cross-industry consortia (e.g., finance/healthcare) and embedding in hyperscaler stacks, solidifying its role in unlocking siloed data's trillion-dollar value while outpacing rivals in verifiability.[1][2][5] This positions Opaque as a foundational enabler, much like its RISELab origins bridged research to real-world secure collaboration.
Opaque Systems has raised $56.0M across 3 funding rounds. Most recently, it raised $24.0M Series B in February 2026 at a valuation of approximately $3.0M.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 12, 2026 | $24.0M Series B | Walden Catalyst | Accenture Ventures, Advanced Technology Research Council, Intel Capital, Race Capital, Storm Ventures, Thomvest Ventures |
| Jun 1, 2022 | $22.0M Series A | Afore Capital, Asymmetric, Geodesic Capital, Intel Capital, Race Capital, Solana Ventures, super{set}, Visionaries Club, Walden Catalyst Ventures, Alison Engel, Harris Barton, Howard Charney, Marc Stilke | |
| Jul 1, 2021 | $10.0M Seed | Afore Capital, Asymmetric, Geodesic Capital, Intel Capital, Race Capital, Solana Ventures, super{set}, Alison Engel, Harris Barton, Howard Charney |