#Canada #Ottawa #data privacy #EviData #Woodway Assurance

Woodway Assurance Secures $1 Million in Funding for EviData

In a significant development in the realm of data privacy, Canadian technology startup Woodway Assurance has successfully completed an oversubscribed seed funding round, raising $1 million for its pioneering product, EviData™. This funding round showcases the robust investor confidence in the role of automated data assurance solutions that align with industry standards in supporting data-driven organizations.

The funding round was spearheaded by Aventure Capital, with contributions from a variety of angel investors who share a vision for an innovative approach to data privacy. Frederic Boulanger, co-founder of Aventure Capital, expressed his excitement about EviData, stating that it addresses a critical challenge faced by organizations striving to utilize data responsibly. Boulanger emphasized that EviData has the potential to become an essential part of contemporary data management practices.

Today's organizations, particularly in sectors like health, life sciences, and financial services, increasingly rely on data for analytics, research, and AI applications. However, they often face scrutiny regarding their de-identification practices, which must be defensible under regulatory frameworks. In situations where clients or partners lack the expertise to validate claims regarding data privacy, the decision-making process can stall, often resulting in a halt. EviData seeks to resolve this issue by providing a clear and auditable solution that transforms ambiguous situations into manageable and defensible confirmations of data privacy.

EviData operates directly within a client's environment and requires minimal specialized expertise. Leveraging advanced AI-driven automation, the software assesses uploaded de-identified or synthetic datasets for their privacy compliance and utility. In a matter of minutes, it generates a comprehensive third-party report that delivers well-documented evidence regarding whether a dataset can be regarded as non-personal information, and aligns with guidelines from Canadian regulatory bodies as well as ISO standards. This capability not only expedites organizational processes but also fosters confidence in data handling practices.

Dr. Khaled El Emam, the founder and CEO of Woodway Assurance and a significant figure in Medical AI research at the University of Ottawa, elaborated on the importance of this funding. He noted that merely claiming to protect privacy is no longer sufficient. Organizations must now present solid evidence confirming their compliance with current privacy standards. The funds raised will empower Woodway Assurance to enhance its outreach to organizations seeking practical means to adhere to privacy regulations while also providing evidence that their data practices can be trusted. This assurance allows for quicker approvals, ensuring data retains its utility while adhering to necessary privacy requirements.

Since its inception in early fall 2025, EviData has already started making waves in the market. Early customers are now utilizing the technology to support various projects across data-intensive industries, effectively generating revenue for the company. The recent funding will be crucial in accelerating the growth of Woodway Assurance, particularly in expanding sales and marketing efforts and further developing the capabilities of EviData. This strategic growth will not only enhance the company’s reach but also solidify its position at the forefront of data privacy technology.

With a focus on innovation and responsible data usage, Woodway Assurance aims to redefine how organizations manage data privacy, making it both a competitive edge and a fundamental practice in data management. As businesses continue to navigate the complexities of data usage in compliance with privacy standards, solutions like EviData will play a pivotal role in whether they can successfully turn data into actionable insights without compromising on privacy.