Skyflow began as an API to store personally identifying information on behalf of customers and has expanded its offering to address AI and LLM-related use cases. The company says its AI-related software offerings have rapidly become a material portion of its business, with LLM-related usage growing from 0% to around 30% of revenues recently. Skyflow more than doubled in size last year, reporting revenues expanded 110%, and it now sits in the double-digit million revenue range. Earlier capital was deployed to build out a regional footprint to support data residency requirements, and the firm recently expanded support for China’s data rules. The product emphasizes permissions, governance and preventing sensitive data from leaking when enterprises use LLMs. Management views the AI-driven demand for data-management and privacy tooling as a key growth driver going forward. Skyflow provides an API-delivered service that stores personally identifying information (PII) and other sensitive data, with product variants for fintech (credit card and payment data) and healthcare customers. Its platform uses a zero-trust vault built with polymorphic encryption to abstract privacy, encryption, and data-residency challenges for developer teams. The company reported "8x growth" over the prior nine months and has around 65 employees, with plans to roughly double headcount by the end of 2022. Skyflow has expanded its product mix since its Series A to address fintech-specific data needs while maintaining healthcare-focused offerings. Financially, the startup said it did not need to raise out of cash necessity—management reported about $11 million of capital remaining from its prior round before the Series B. The company declined to share a valuation on the record; PitchBook indicated a pre-round valuation just under $100 million. Skyflow offers a zero-trust repository or vault accessible via API that stores sensitive data using polymorphic encryption and enables granular access controls. Its product launched in July, and the company secured its first customer in under two weeks with a seven-figure contract. Skyflow reports an eight-figures sales pipeline, according to its CEO. The startup is building vertical-specific product variants targeting regulated sectors such as finance, healthcare, and identity. It is staffing up—hiring more engineers and sales resources—and has made key hires including Paul Kopacki (former Heroku CMO) and Karthik Rajan (former Salesforce engineering VP). With initial traction and additional capital, Skyflow plans to continue expanding its product and go-to-market efforts. Skyflow builds a privacy-focused API that lets businesses store and use sensitive customer data (such as Social Security numbers) without exposing that data in the event of a breach. The company was cofounded by Anshu Sharma (a former Salesforce executive and former venture partner at Storm Ventures) and Prakash Khot, and was founded in 2019. Skyflow emerged from quasi‑stealth with a seed financing to accelerate product development and a planned commercial launch. Its CEO likens the product to API-first services like Twilio and Stripe, providing a simple endpoint for a complex security capability. The team says it will not charge per‑use rates like some APIs and expects the business to look more like a SaaS model once commercially launched. The company positions itself as protecting data so customers can run workflows, analytics and machine learning without exposing raw sensitive information.

Total raised

$100M

Funding rounds

4

Latest round

Series B

Latest activity

Mar 2024