Data security company backed by Sacramento's Impact Venture Capital lands $50 million VC round

Impact Venture Capital founding general partner Jack Crawford

Courtesy of Impact Venture Capital

By Mark Anderson - Staff Writer

October 07, 2021, 06:46am PDT

Cornami Inc., a portfolio company of Sacramento venture capital firm Impact Venture Capital, announced that it raised $50 million to bring its cloud computing security products to market.

The investment round into Campbell-based Cornami was led by London-based SoftBank Vision Fund 2. Other investors included institutional investors as well as other existing investors and insiders, Cornami said.

“The Cornami management team is extremely experienced in processing and computing technologies and has delivered multiple new technologies successfully to market throughout their careers,” said Jack Crawford, founding general partner at Impact Venture Capital, in a news release. “We believe that Cornami’s technology is the catalyst for the next-generation of data security and represents an ideal company for investment.”

Cornami had previously raised $33 million in five funding rounds, according to venture capital data website Crunchbase. One of the original lead investors in Cornami was Impact Venture Capital.

Cornami is working on “fully homomorphic encryption” security that allows users to extract data analytics without ever decrypting the underlying data, thus keeping secure intellectual property, financial information and personally identifiable information, the company said.

“We believe data security and privacy are critical to today’s data-driven economy,” said Eric Chen, managing partner at Softbank Investment Advisers, in a news release. "Cornami’s proprietary programming model and scalable architecture aims to deliver real-time fully homomorphic encryption, which will fundamentally change how data is shared and monetized.”

Impact Venture Capital on Thursday is presenting its fourth Impact Global Venture Summit in person in Sacramento. The summit in the past has been at Golden 1 Center. There was no summit last year because of the pandemic. Thursday's event will be at the recently completed SAFE Credit Union Convention Center in Downtown Sacramento.