Hazy
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Hazy, a London startup founded in 2017 by Harry Keen as a spinout from University College London, built a synthetic data platform that used AI-generated smart synthetic data preserving the statistical quality of real data while containing no real information, eliminating privacy risk. The synthetic data served as a drop-in replacement for real data in AI/ML development, software testing and data commercialization, with major clients including Nationwide, Wells Fargo and Intesa Sanpaolo. Hazy raised a $9M Series A in March 2023 led by Conviction, and won Microsoft's Innovate AI prize ($1M) as the best AI startup in Europe.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded
Hazy was founded in London in 2017 by Harry Keen as a UCL spinout; it won the $1M Microsoft Innovate AI prize as the best AI startup in Europe in 2018.
- Series A
Hazy raised a $9M Series A in March 2023 led by Conviction, with Nationwide, Wells Fargo, Intesa Sanpaolo, M12 and others participating.
- SAS acquisition
SAS closed the acquisition of Hazy's primary software capabilities (its synthetic data generation IP) in November 2024.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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