The Billion-Dollar Opportunity for Synthetic Data: Why Calibrate Invested in Diveplane

May 17, 2021 / Jason Schoettler

At Calibrate Ventures, we invest in companies that leverage advanced automation and AI to unlock almost limitless human and economic potential. We recently led a $2.5 million seed funding in Diveplane, a promising startup whose cloud-based AI platform is used by the finance, healthcare, real estate, supply chain, and aerospace industries to gain more value out of their data.

With six approved patents (so far), Diveplane’s cloud-based AI platform, GeminiAI, helps organizations leverage their massive data troves, all while meeting transparency, privacy, and ethical guidelines. Leveraging AI and ML, Diveplane creates synthetic twin datasets of sensitive data that do not contain any personally-identifiable information. Diveplane’s platform does this while preserving the mathematical and statistical connections within the original dataset, meaning institutions can confidently share, analyze, and monetize data while meeting privacy, legal, and contractual regulations. The potential use cases for Diveplane’s synthetic data platform are vast. For example, Diveplane is helping large hospitals safely and anonymously share and analyze confidential patient records.

Diveplane’s technology is elegant and powerful and it’s no surprise considering the technical chops of the two founders, CEO Dr. Michael Capps and CTO Dr. Chris Hazard, two brilliant PhD computer scientists we’ve known for several years.

I first met Mike in 2014 when he joined me on the board of Sphero as an independent director.  To that boardroom he brought a sharp and analytical intellect wrapped in keen awareness of how to inspire, build, and motivate teams. Mike’s computer science research focuses on networked virtual reality and simulations and he’s also a tremendous entrepreneur and tech executive. Before starting Diveplane in 2017, Mike previously served as President of Epic Games, where he assembled the first team that developed Fortnite, among many other achievements. 

When Mike told me he was teaming up with Chris to start Diveplane, we paid attention and closely followed their progress for a few years. Chris has not only done extensive work developing AI applications for cybersecurity, but is also a successful serial founder. Diveplane’s core technology was spun out of Chris’s previous company, Hazardous Software, which built AI software for decision support, visualization, and simulation that was used by large organizations, the Department of Defense, and the US government.

Why is now the right moment to invest in Diveplane? The company’s flexible AI solutions sit at the intersection of three massive trends: tremendous growth in data collection, increasing privacy concerns, and interest in monetizing proprietary data. Organizations have collected terabytes of data, but struggle to gain and share clear insights from it in ways that meet all privacy and consumer protection regulations. Synthetic, auditable twin datasets are the answer to this conundrum.

With the right tools, data will become companies’ most valuable asset in the years to come, but only if they find safe, ethical, compliant ways to share and monetize it. We’re thrilled to welcome Mike, Chris, and the entire Diveplane team to Calibrate Ventures and can’t wait to see all the ways companies will use Diveplane to transform their data into “digital gold”.