Opaque, a San Francisco, CA-based confidential AI company for enterprise AI, has raised $24 million in a Series B funding round led by Walden Catalyst.
The round also saw participation from Intel Capital, Race Capital, Storm Ventures, Thomvest, and a new investor and strategic partner, Advanced Technology Research Council.
The Company is valued at $ 300 Million.
The new funding brings the Company’s total raised to $55.5 million.
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The Company plans to use the funds to grow its operations and accelerate product development.
OPAQUE, a Confidential AI company building a trust layer for enterprise AI, has quickly moved from concept to industry standard within a year. Confidential AI is now supported by companies such as NVIDIA, AMD, Intel, and Anthropic, as well as major cloud providers including Google, Microsoft Azure, and AWS. Gartner states that Confidential AI techniques are critical for enterprises to secure GenAI workflows and protect sensitive data used by AI models.
Companies across industries want to use AI agents with their own data to boost productivity and stay competitive, but many are held back by data security and compliance concerns. This growing “trust gap” is causing AI projects to stall at the pilot stage, as CISOs, compliance, and legal teams delay rollouts due to worries about privacy, policy enforcement, and auditability.
OPAQUE provides a secure, auditable infrastructure that gives enterprises clear proof that data privacy, model integrity, and policy enforcement are protected before, during, and after runtime. For organizations that need to innovate quickly while meeting stricter compliance standards, OPAQUE enables them to deploy AI with confidence, transparency, and verifiable trust.
“Enterprises will keep struggling to move AI into production until they have clear proof that their most sensitive data and models are secure,” said Young Sohn, Founding Managing Partner at Walden Catalyst and board member at Samsung, Arm, and Cadence. “OPAQUE addresses this need with a platform designed for verifiable privacy, policy enforcement, and model integrity capabilities that are quickly becoming essential. We’re proud to support this round and help OPAQUE drive trusted, enterprise-ready AI adoption.”
“The biggest barrier to enterprise AI is trust,” said Aaron Fulkerson, CEO at OPAQUE. “AI won’t scale unless organizations can verify—not just assume—that their data and models are secure. Confidential AI closes this trust gap by providing proof that data remains private during processing, model weights are protected, and policies are enforced as intended. We’re driving a shift to confidential first infrastructure so enterprises can turn sensitive data from a risk into a competitive advantage.”
“There is no true sovereign AI without clear guarantees on how data, models, and policies are protected and managed,” said Dr. Najwa Aaraj, CEO of the Technology Innovation Institute (TII). “OPAQUE delivers a confidential, cryptographically verifiable foundation that allows our technologies to run AI systems with real sovereignty. That’s why we’re proud to be both an investor and a partner, sharing a commitment to advancing Confidential AI innovation.”
OPAQUE is expanding into post-quantum security, confidential AI training, and sovereign cloud environments, helping enterprises securely scale AI for their most sensitive workloads. This investment supports OPAQUE’s mission to make built in AI governance the standard for enterprise AI.
About OPAQUE
Founded in 2021 by CEO Aaron Fulkerson, OPAQUE is a Confidential AI company born out of UC Berkeley’s RISELab. It addresses a key barrier to large scale AI adoption: concerns about data leaks and compliance risks. OPAQUE provides verifiable privacy and governance, enabling organizations to safely run AI models, agents and workflows on sensitive data.
Its Confidential AI platform offers runtime governance backed by cryptographic proof that data, models and agent actions remain private, controlled, and compliant with approved policies throughout each AI workflow. By adding real time verification to traditional data governance tools, OPAQUE helps teams responsibly deploy AI with their most valuable data and move from pilot to production four to five times faster. Customers and partners include ServiceNow, Anthropic, Encore Capital, Accenture, and organizations across technology, financial services, insurance, and healthcare.
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