Scout InsurTech Interview with Multyx

Multyx is a sensitive-data collaboration platform. They seek to empower organizations to collaborate and analyze sensitive data without exposing the data. Chris Luiz sat with Director of Business Development and Customer Success, Daniel Translateur, to learn more about how Multyx is impacting the industry.

Who are your clients?

Our customers are enterprises in insurance, finance and other industries that manage highly sensitive data, including PII, PHI and regulated information. They seek to launch data-driven partnerships while maintaining data sensitivity. 

What does your product do?

Our product enables our enterprise customers to:

1. Evaluate new vendors in AI.

2. Take data to the next level through data partnerships either with external business partners or different subsidiaries inside the same group for optimizing existing processes and for implementing new revenue streams.

3. Use data by leveraging AI models that are external to their organization and have the capability of being sure that they're not sharing or exposing any sensitive data outside of the organization.

How much capital have you raised?

This information is not disclosed.

Was the company born from within or outside the industry?

We were born from outside of the insurance industry. Today, we serve other verticals as well.

What growth metrics have you accomplished over the last 12 months?

This last year we grew by more than 200 percent across new customer logos and financial metrics. 

Within your domain, what is the current challenge that the industry is facing?

Every organization wants to leverage their data with AI. This typically requires collaboration and partnerships. For enterprises with highly sensitive data, collaborating while maintaining data safety is challenging, and we help to get this process done securely and fast.  

In addition, to get effective results from AI and machine learning, the high-quality real data has to be analyzed. Yet, regulation and business considerations imply that such high-quality must not be shared or exposed. We are solving this challenge by enabling a partner to run AI and ML on such high-quality data without sharing the data or exposing it. 

How does Multyx take a unique approach to providing value?

Our product is unique in terms of its ease of use, rapid deployment and in focusing on enabling practical business solutions. It’s a SaaS UI-based platform - user-friendly for data professionals. It utilizes advanced security and privacy technology, complemented by a robust collaboration environment. This sophisticated technology operates behind the scenes. It facilitates immediate onboarding of partners and easy creation of AI or machine learning solutions for specific business needs by data and collaboration professionals with minimal involvement of IT or engineering.

What inspired the team to start this company?

The team was inspired by new developments in hardware and software security technology as it relates to the potential of machine learning and AI. They realized that applying this combination would unlock new business solutions that were previously unfeasible, which led them to start the company.  

Can you share any goals for the next 12 months?

Over the next year, we are expanding in the US, Europe and APAC. We aim to sustain this growth by forming new partnerships and creating better solutions for our customers.

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And Our Scout InsurTech Partners