1 August 2018
Nationwide Building Society has today announced its second investment as part of a £50 million Venturing Fund that is designed to create long-term partnerships.
Hazy, based in London and formed just 18 months ago, is an online platform that helps businesses share data responsibly. Hazy’s AI-driven solution is able to seek out and anonymise personal data, supporting businessess in ensuing customer data is as private and secure as possible.
As part of its Venturing Fund, launched last month, Nationwide is investing and partnering with early stage start-ups exploring innovative products and services that could provide real benefits for the Society’s members.
As an Artificial Intelligence company enabling safe and secure customer data sharing, Hazy has attracted investment from Nationwide in addition to a range of other investors. Despite being little more than a year old, the company is already working with customers ranging from startups to international banks and the British government.
Emma Huntington, who leads Strategic Development, Innovation and Venturing at Nationwide Building Society, said: “We are delighted to be partnering with Hazy, our second investment since launching the Society’s new venturing fund. By investing in early stage start-ups, like Hazy, we can be at the forefront of helping develop innovative products and services that will benefit our members both now and in the future. We look forward to working with Hazy to help enhance the way we manage our data.”
Harry Keen, CEO of Hazy, said: “In recent months we have seen a seismic cultural shift around data. Consumers are now acutely aware of the importance of data security and, with the presence of GDPR legislation, businesses rightly now consider safe data-handling as mission-critical.
“Our technology ensures that huge unwieldy data sets are GDPR-compliant. Recognising that most companies don’t have data experts, Hazy has been built to require zero technical integration, or any technical expertise. We are proud to be working together with Nationwide especially given the parallels between our work protecting users data, and Nationwide’s consumer-centric values.”
Notes to Editor:
Spokespeople are available on request for interview.
Hazy is a data anonymisation platform that helps businesses use data responsibly and ethically. Hazy's platform is automated through machine learning, helping companies identify and anonmyise personal data from large datasets whilst maintaining its utility, enabling Hazy’s customers to remain GDPR compliant. A UCL spin-out and winner of Microsoft Ventures Innovate.AI competition, Hazy was founded by experienced entrepreneurs alongside machine-learning scientists. Headquartered in London, the company is working with customers ranging from startups to international banks and the UK central government.