Cornami Announces Strategic Investment from Applied Ventures

Real-Time Privacy-Preserving Computing on Encrypted Datasets Is Critical for Today’s Digital Economy

CAMPBELL, Calif.--(BUSINESS WIRE)--Cornami, Inc. – Cornami (named for a “tsunami of cores”) announced today that Applied Ventures, LLC has made a strategic investment in the company’s over-subscribed Series C financing led by SoftBank Vision Fund 2. As the venture capital arm of Applied Materials, Inc., Applied Ventures invests in companies with high growth potential that can help develop technologies and markets that provide natural extensions to Applied’s core business - stimulating the growth of applications for semiconductors and related products and services.

Cornami’s unique software defined TruStream® Computational Fabric can scale performance without penalties to deliver real-time computing for critical and complex applications. The company’s proprietary technology lowers power consumption and latency, while vastly increasing the performance for today’s massive datasets whether at the edge or the cloud. This includes, most notably, accelerating Fully Homomorphic Encryption (FHE) for real-time computing on encrypted data sets, which is vital for data privacy and cloud security.

Data is the engine for business growth in today’s digital-driven economy. The importance of the knowledge gained from data analytics in the global economy cannot be overstated. However, this comes with challenges on the confidentiality of the data and how businesses and industries navigate this asset in terms of privacy, cross-border regulations, and sharing/monetizing with third parties to enhance business growth while improving operational efficiency. This is where FHE can play an important role.

FHE allows for extracting intelligent data analytics without ever decrypting the data to expose the underlying plaintext data, whether it is intellectual property (IP), financial information, personally identifiable information (PII), customer data, intelligence insight, or beyond. The challenge to date is FHE is too computationally intensive to be commercially practical. Cornami can shift the paradigm to deliver this critical data privacy capability in real-time at market prices. This provides intelligent insights from valuable datasets including processing privacy-preserving artificial intelligence (AI) and machine learning (ML) models.

“The availability of practical FHE introduces a sea change to the cloud computing marketplace and the entire information processing industry,” stated Dr. Walden (Wally) Rhines, CEO of Cornami. “Today, it is impossible to guarantee hack-proof firewalls, secure operating systems, processors without embedded trojans, or internal risk from employees in computing environments. Privacy and data security become achievable goals with FHE, allowing for a wide range of services to become accessible while maintaining full confidentiality of the data, the application, and service results,” Dr. Rhines added. “We are excited to have Applied Ventures as an investor and to gain their expertise as we work on developing a variety of use cases, products and services.”

“It is clear that data privacy is critical for extracting the full analytical potential from valuable data assets,” said Dr. John Wei, investment director at Applied Ventures. “The benefit from these intelligent insights and the ability to enable secure collaboration across organizational and jurisdictional boundaries is vital to building long-term trusted relationships between data owners and service providers.”

Series C funding will allow Cornami to increase its outbound partner program activities as it focuses on bringing its products to market.

About Cornami

Cornami is focused on the deployment of intelligent computing in real-time environments. The company has developed a massively parallel reconfigurable computational fabric architecture to address the shift in computing needs for the ever-increasing massive datasets of today, and into the future. This game-changing, software-defined technology delivers unprecedented linear scalability from thousands of cores on a single chip to millions across a system to meet performance, cost, and power requirements for customers. www.cornami.com

About Applied Ventures

Applied Ventures, LLC, the venture capital arm of Applied Materials, invests in technology companies across the Materials to Systems™ stack that have the potential to deliver high growth and exceptional returns. Its investments help develop technologies and markets that provide natural extensions to Applied Materials' core business and stimulate the growth of applications for semiconductors, displays and related products and services. Learn more at www.appliedventures.com or follow @Applied_VC.