Samooha debuts technology that allows businesses to share data securely

Data Science

Samooha, a company creating a “cross-cloud” data collaboration platform, revealed today that it has secured $12.5 million in a round of investment led by Altimeter Capital and Snowflake Ventures, among others. According to CEO Kamakshi Sivaramakrishnan, the capital injection — Samooha’s first — will be used for product development and hiring, with the goal of increasing the startup’s workforce from 14 to about 20 by the end of the year.

So, you’re probably wondering what Samooha does. In a nutshell, the platform enables organizations to securely exchange, collaborate on, and get insights from the data of their customers and partners, independent of the underlying cloud and data stack.

It’s hardly a novel idea. “Data clean rooms” have been around for a while, marketed as the ultimate option for transferring sensitive data across computer environments by both IT titans and startups. Harbr secured $38.5 million for its technology to let organisations securely exchange and share large amounts of data just a few years ago. InfoSum and Decentriq both provide safe data-sharing platforms, while Amazon Web Services just announced Clean Rooms, a new data clean room offering geared at enterprises that often exchange data with outside partners.

Samooha’s differentiation comes from its reliance on the Snowflake ecosystem, which isn’t surprising considering Snowflake’s role in the startup’s investment. Samooha, a Snowflake native app, provides a no-code UI for users to access and develop clean room apps. In an interview with TechCrunch, Sivaramakrishnan noted that the underlying trust barrier of Snowflake’s native applications architecture offers the safe compute environment while avoiding the need for any data movement.

“Security assurances are implemented both technically and through user-defined regulations such as authorized query templates. This enables rapid and secure cooperative data analysis in the clean room,” she continued. “Imagine a very intuitive collaboration product experience like Slack, where you are not just communicating with coworkers in a channel, but are actually learning, sharing, and collaborating around data owned by you and your partner by running analytics workloads without moving or securing data in that channel or room.”

Samooha seeks to target industries that it feels are underserved, such as healthcare, financial services, advertising, retail, and entertainment. Media, in particular, might be profitable; Gartner expects that by 2023, 80% of advertisers with $1 billion or more in media spending would employ data clean rooms.

Sivaramakrishnan claims that Samooha already has Fortune 500 clients, but she refuses to name them. The epidemic, she adds, made the sales pitch simpler since it highlighted the need for safe, secure data exchange across businesses.

It most likely depends on the industry; according to a Habu poll conducted in August 2022, more than half of marketing professionals had never utilized a data clean room. However, Samooha’s early success demonstrates that Sivaramakrishnan’s allegations are not without merit.

“In general, using customer, consumer, and company data is a given in any sector or use case. However, most organisations have an imperfect perspective of customer and consumer data, according to Sivaramakrishnan. “The pandemic highlighted the importance of safe, secure data sharing across numerous industries, including healthcare, manufacturing, supply chain and logistics, and others… Our technology and product strategy, along with the commercial model, gives us confidence that we are tackling a vital corporate data function in a unique way, and so have the capacity to weather headwinds.”

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