New Zealand-based DataMasque, a sensitive data discovery and masking platform that enables enterprises to generate synthetically identical customer data for AI training, testing, and analytics, has raised $US4 million (A$5.5 million).
The funding was led by the early-stage fund of Wavemaker Partners, with existing investors OIF Ventures and Icehouse Ventures also involved.
The company also announced it has appointed investor and Instaclustr cofounder Peter Lilley to its board.
Alongside the funding, DataMasque said it has launched what it claims is a first-of-its-kind capability that unlocks unstructured data – such as call transcripts, emails and logs – for AI and analytics.
“Enterprise AI projects are increasingly blocked by data access," said Grant de Leeuw, cofounder and chief executive of DataMasque.
"This funding validates the need for synthetically identical customer data to feed into AI models or use to evaluate, test and train AI."
The DataMasque team has tripled headcount and achieved 6x ARR growth since its seed round in late 2023.
The company offers a unified platform connecting both structured and unstructured data and its customer roster includes New York Life, ADP, Best Western Hotels and Resorts, One NZ, TAL, and government agencies across New Zealand, Australia and the US.
de Leeuw told techpartner.news earlier this year that the recent agreement the company signed with AWS commits marketing funds to the company, helping with proof of concepts for customers and go-to-market initiatives with AWS.
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