Privacy Analytics offers PARAT, an enterprise software suite that automates anonymization of structured and unstructured data to safeguard and enable secondary uses. PARAT sets re-identification risk thresholds based on situational and intended use and applies those thresholds to database tables, text and other document formats in accordance with HIPAA and other regulatory requirements. The software yields high-quality individual-level data for research, quality improvement, public health, payment and testing while protecting personal information. Customers include half of Fortune 50 healthcare companies and research organizations such as the Center for Clinical Excellence at Mount Sinai and the BORN Registry. Founded in 2007 and incubated at the University of Ottawa from research at the Children’s Hospital of Eastern Ontario’s Research Institute, the company’s PARAT technology is patented and peer-reviewed. The company plans to use new funding to expand sales and marketing and to bolster development of the PARAT product line. Privacy Analytics provides solutions that enable secondary users to access high-quality, de-identified data suitable for the most complex analytics while meeting legal, privacy and compliance regulations. Its customers include commercial organizations in healthcare, consumer and financial services, research organizations, and government departments. The company's technology facilitates research and analysis, can eliminate the need to obtain individual consent for certain secondary data uses, and reduces the effort and cost to comply with governmental regulations and guidelines. Privacy Analytics is led by founder and CEO Dr. Khaled El Emam and is based in Ottawa, Ontario, Canada. The company recently closed a venture capital funding round of undisclosed size backed by the BDC IT Venture Fund and the Capital Angel Network. It intends to use the capital to ramp up sales and marketing efforts. Privacy Analytics develops the Privacy Analytics Risk Assessment Tool (PARAT), a Windows-based software platform that helps hospitals and patient registries disclose detailed disease and treatment data while protecting individual privacy. PARAT is compatible with multiple databases, including Oracle and Microsoft SQL Server, and is currently being used by hospitals and patient registries in Canada. The company has received an equity investment from The Ontario Institute for Cancer Research (OICR) through its Intellectual Property Development and Commercialization Program. The amount of the investment was not disclosed. OICR's funding will be used to extend PARAT's functionality and to support marketing and sales of the improved product into new markets. The OICR program provides seed funding for late-stage academic projects that meet specific market-oriented criteria.

Total raised

$4M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2014