Startup journey
In 2020, Ilya Razenshteyn and I founded CipherMode Labs in Los Angeles to turn my PhD research into a product. The goal was simple to state and hard to build: let companies compute on their data while it stays encrypted, so they can use and share even their most sensitive information without ever exposing it. We later renamed the company Pyte, short for "Private Byte". In February 2025, Pyte was acquired by All Hands AI.
The problem
Companies sit on valuable data they can't fully use. Privacy rules, security risk and plain distrust keep it locked away, and the usual ways of sharing it (copying it into one central place, or masking it) either create new risks or destroy what makes the data useful.
Our answer was secure multiparty computation (SMPC): several parties compute together on their combined data while every input stays encrypted the whole time, including during the computation itself. The math had existed for years, but it was slow and only usable by cryptographers. We set out to make it fast and usable by any engineer.
What we built
- CipherCore (2022), an open-source library that made SMPC usable without any cryptography knowledge. Developers wrote programs in their normal workflow and CipherCore turned them into secure protocols.
- SecureMatch (2023), on-premise data collaboration: two or more companies could measure how much their customer lists overlap without the data ever leaving their own cloud. A Fortune 100 consumer goods company used it to evaluate potential data partners.
- SecureSuite (2024), the broader platform for matching, joining datasets and building AI models on encrypted data. The platform was SOC 2 compliant.
The team had six PhDs, three of them experts in secure computation, and three ICPC gold medalists, with offices across North America and Europe.
Timeline
- 2020. Founded CipherMode Labs.
- May 2022. Closed a $6.7M seed round led by Innovation Endeavors, with Pillar VC, the National Science Foundation and several technology executives, and open-sourced CipherCore (TechCrunch).
- October 2022. Selected for the Startup Battlefield 200 at TechCrunch Disrupt.
- May 2023. Launched SecureMatch as Pyte.
- December 2023. Wrote about key trends in data collaboration for the Forbes Technology Council.
- January 2024. Named a Major Player in the IDC MarketScape for Worldwide Data Clean Room Technology.
- June 2024. Raised $5M led by Myriad Venture Partners, with Innovation Endeavors, Liberty Mutual Strategic Ventures and Pillar VC, bringing total funding to over $12M (SiliconANGLE).
- February 2025. Pyte was acquired by All Hands AI.
Talks from those years, including at the AI4 conference and MIT, are on the talks page.
Press
- TechCrunch: CipherMode Labs launches open source solution to protect data without encryption expertise (May 2022)
- Innovation Endeavors: Developer-first secure computation, on leading our seed round (May 2022)
- Pillar VC: Investing in CipherMode (2022)
- Help Net Security: CipherMode Labs raises $6.7 million and launches CipherCore (May 2022)
- TechCrunch: CipherMode Labs (Pyte) at Startup Battlefield (October 2022)
- Forbes: How to prepare for key trends in data collaboration (December 2023)
- GlobeNewswire: Pyte named a Major Player in the 2024 IDC MarketScape (January 2024)
- SiliconANGLE: Pyte secures $5M to expand secure computation in regulated industries (June 2024)
- SecurityWeek: Pyte raises $5 million for secure data collaboration solutions (June 2024)
- PYMNTS: How AI helps the enterprise collaborate on sensitive data (2024)