Launch of world first technology enables businesses to share insight without moving data
InfoSum launches Link - a GDPR compliant data collaboration technology
Organisations can now connect internal information, create strategic data partnerships and collaborate to deliver customer insight with another business in minutes rather than weeks, with the launch of InfoSum Link today (9th March 2018).
The first product from the collaborative technology start-up InfoSum enables companies to gain joint knowledge from two different datasets without sharing or adapting source data.
The technology has been built using InfoSum’s decentralised platform, which analyses data without moving it. Each company retains complete ownership and control of their data and results are only given in aggregate statistical format to protect the anonymity of individuals, making it respectful of customer privacy and GDPR compliant.
Even though no two datasets are the same, InfoSum is able to make them compatible through its normalisation system that automatically transforms data into standardised categories. This process enables InfoSum Link to quickly generate a detailed report showing the joint information without the commercial, security and privacy risks associated with sharing data.
The software as a service (SaaS) based product is easy to use and affordable, with prices starting from £50.
Nick Halstead, CEO and founder, InfoSum commented: “Access to the data sets needed to fuel market defining products and services is cumbersome and riddled with technical challenges. As a result, companies aren’t able to innovate as quickly as they would like or customersdemand.
“With InfoSum Link we’re taking the first step on our journey to obliterate the data collaboration barriers so that every company is able to extract value from their data. The quicker a company can bring together internal knowledge or assess the value of sharing data with a second party, the faster it can derive insights in order to drive more consumer-centric products and services.”
Founded in 2016, InfoSum announced earlier this year that it had added $5 million to its seed round, taking the total raised to date to $8 million. The investment was primarily to bring the company’s products to market, which it does today with the launch of InfoSum Link.