Cannabis and digital health start-up Sanity Group closes $44.2M Series A led by Redalpine

Berlin-based cannabis and digital health start-up Sanity Group has closed a $44.2M Series A financing round led by Swiss VC Redalpine along with US-based Navy Capital and SOJE Capital. GMPVC also participated in the round. This appears to be the largest round of cannabis funding in Europe to date and brings total investment in Sanity Group to $73M.

The new capital will be used to expand the Group’s medical division in Europe as well as a EU-GMP-compliant research and production facility near Frankfurt.

Previous investors include HV Capital, TQ Ventures, Atlantic Food Labs, Cherry Ventures, Bitburger Ventures, and SevenVentures. In addition, Sanity Group has attracted celebrity angels including music producers will.i.am, Scooter Braun, and actress Alyssa Milano.

Sanity’s cannabis-based platform is for mental health and chronic pain management, allowing the tracking of cannabis-based therapy digitally with a medical device. This tells customers how much of the active ingredient (THC, CBD or other cannabinoids) is being administered. This is then registered in a therapy diary.

Finn Age Hänsel, founder and managing director of Sanity Group said: “A round of this magnitude shows that cannabis is increasingly moving into the mainstream of investor awareness, and represents an important milestone in our business expansion on our way to becoming Europe’s leading cannabis company.”

Over an interview, he added: “So we are fully legal and operated in Germany. We are just about to enter the Czech Republic and Poland. The UK is one of the biggest markets we want to enter going forward because, as you might know, the whole area of medical cannabis is slowly but surely opening all over Europe, with Germany being the largest market, about 80% of all the cannabis cannabinoid-based therapies today. But actually, the UK being the number two, which is a super attractive market for us but we look further into the Czech Republic and Poland, because those are the markets that have opened up from a regulatory perspective, at the most, over the last two years, and then France will open up next year, but that’s basically one after the other.”

Sean Stiefel, CEO at Navy Capital said: “The European cannabis market faces exciting developments in the coming months. Compared to the North American market, Europe is now where we were in the U.S. about four years ago. We want to bring our expertise and experience to the table. For our first investment in Europe, it was important for us to find a team that understands the market and has real industry experts in its ranks.”

#actress, #alyssa-milano, #atlantic-food-labs, #berlin, #cannabis, #canopy-growth, #ceo, #cherry-ventures, #czech-republic, #europe, #european-union, #france, #frankfurt, #germany, #hansel, #hv-capital, #music-producers, #navy-capital, #poland, #scooter-braun, #tc, #united-kingdom, #united-states

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Elisity raises $26M Series A to scale its AI cybersecurity platform

Elisity, a self-styled innovator that provides behavior-based enterprise cybersecurity, has raised $26 million in Series A funding.

The funding round was co-led by Two Bear Capital and AllegisCyber Capital, the latter of which has invested in a number of cybersecurity startups including Panaseer, with previous seed investor Atlantic Bridge also participating.

Elisity, which is led by industry veterans from Cisco, Qualys, and Viptela, says the funding will help it meet growing enterprise demand for its cloud-delivered Cognitive Trust platform, which it claims is the only platform intelligent enough to understand how assets and people connect beyond corporate perimeters.

The platform looks to help organizations transition from legacy access approaches to zero trust, a security model based on maintaining strict access controls and not trusting anyone — even employees — by default, across their entire digital footprint. This enables organizations to adopt a ‘work-from-anywhere’ model, according to the company, which notes that most companies today continue to rely on security and policies based on physical location or low-level networking constructs, such as VLAN, IP and MAC addresses, and VPNs.

Cognitive Trust, the company claims, can analyze the uniquely identify and context of people, apps and devices, including Internet of Things (IoT) and operational technology (OT), wherever they’re working. The company says its AI-driven behavioral intelligence, the platform can also continuously assess risk and instantly optimize access, connectivity and protection policies.

“CISOs are facing ever increasing attack surfaces caused by the shift to remote work, reliance on cloud-based services (and often multi-cloud), and the convergence of IT/OT networks,” said Mike Goguen, founder and managing partner at Two Bear Capital. “Elisity addresses all of these problems by not only enacting a zero trust model, but by doing so at the edge and within the behavioral context of each interaction. We are excited to partner with the CEO, James Winebrenner, and his team as they expand the reach of their revolutionary approach to enterprise security.”

Founded in 2018, Elisity — whose competitors include the likes of Vectra AI and Lastline closed a $7.5 million seed round in August that same year, led by Atlantic Bridge. With its seed round, Elisity began scaling its engineering, sales and marketing teams to ramp up ahead of the platform’s launch. 

Now it’s looking to scale in order to meet growing enterprise demand, which comes as many organizations move to a hybrid working model and seek the tools to help them secure distributed workforces. 

“When the security perimeter is no longer the network, we see an incredible opportunity to evolve the way enterprises connect and protect their people and their assets, moving away from strict network constructs to identity and context as the basis for secure access,” said Winebrenner. 

“With Elisity, customers can dispense with the complexity, cost and protracted timeline enterprises usually encounter. We can onboard a new customer in as little as 45 minutes, rather than months or years, moving them to an identity-based access policy, and expanding to their cloud and on-prem[ise] footprints over time without having to rip and replace existing identity providers and network infrastructure investments. We do this without making tradeoffs between productivity for employees and the network security posture.”

Elisity, which is based in California, currently employs around 30 staff. However, it currently has no women in its leadership team, nor on its board of directors. 

#allegiscyber-capital, #artificial-intelligence, #california, #ceo, #cisco, #cloud-computing, #cloud-infrastructure, #computer-security, #computing, #funding, #lastline, #managing-partner, #operational-technology, #qualys, #security, #technology, #viptela

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Meet Nickson, the furniture-as-a-service startup that Barack Obama’s ex-financial adviser just backed

Ever toured an apartment and fall in love with the model unit?

You’re not alone. Harvard Business School grad Cameron Johnson is a former institutional real estate investor and Greystar exec turned startup founder that realized that very often, “renters would try to rent the model apartment.”

This got him thinking. People would love to rent a model apartment in a building, and no one likes to move. This spelled opportunity in Johnson’s mind.

So in 2017, he came up with the idea of Nickson, a Dallas-based startup that fully furnishes apartments on demand.

Image Credits: CEO and founder Cameron Johnson / Nickson

“I thought ‘What if you gave people the ability to simply rent the model, or the ability to add everything in their space needs with a few clicks, similar to how a cable modem comes to your house ’ ” CEO Johnson said. “I wondered, ‘Why can’t we do that for everything else?’ ”

But Nickson doesn’t just provide furniture such as beds and sofas, it delivers all the essentials too — from extension cords to pots and pans to silverware to curtain rods. By partnering with a variety of retailers, the startup claims that it allows users “to make their new spaces move-in ready in as little as 3 hours.” 

Users take a style quiz and share apartment layout details. Nickson’s designers create an initial layout based on the dimensions of an apartment, desired functions (such as work from home) and the volume of furnishings based on a person’s lifestyle. Once the layout is complete, Nickson creates a custom design, including all furnishings and home goods. 

Upon signing up, users pay a one-time installation fee for the furniture-as-a-service offering, and then a monthly subscription charge for the duration of a lease — starting at $199 a month for a studio to $500 a month for a 3 bedroom apartment. The startup also offers concierge services such as a household supply starter kit and maid service, as an add-on to its flat monthly subscription.

Nickson is currently only live in the Dallas market, but plans to expand into other cities over the next 12 months, including expanding its beta tests in Austin and Houston. And it’s just raised a $12 million Series A to help it advance on that goal. 

A fund managed by Pendulum Opportunities LLC, a wholly owned subsidiary of Pendulum Holdings LLC, led the Series A round, which also included participation from Motley Fool Ventures, Revolution’s Rise of the Rest and Backstage Capital. 

The COVID-19 pandemic has disrupted the global supply chain, leading to delivery delays for consumers. Nickson has purchased items over time that it stores as local inventory, making it even more attractive to renters who don’t want to deal with delays and hunting down furniture and essentials, Johnson said. The convenience Nickson offers led to its user base growing 700% in 2020 compared to the year prior, he added.

Robbie Robinson, co-founder and CEO of Pendulum, said his firm was drawn to invest in Nickson due to a combination of Johnson’s “vision, secular shifts toward renting and subscription consumption and the company’s disruptive business model.” (Robinson is President Barack Obama’s former financial adviser, and recently founded Pendulum to invest $250 million in founding startups of color).

Kabir Ahmed, vice president at Pendulum, added that he believes Nickson’s model is superior to the concept of renting one-off furniture pieces in that it offers an “end-to-end, turnkey solution.”

This seamless experience is highly differentiated and offers a compelling value proposition for the consumer,” he said.

Of course, Nickson is not the only company attempting to turn the stodgy furniture rental industry on its head. Other startups offering similar services as Nickson include Oliver Space, Fernish and The Landing.

But Nickson claims that it stands out from the competition in that it “takes care of everything” beyond furniture (including artwork and toilet wand brushes) and that it can curate space and bring it all in before a renter even shows up.

“No other competitor in this space offers this level of service, detail or turnaround,” Johnson says. “You can literally arrive at your new home with a suitcase and toothbrush, and it’s ready to ‘live in.’”

#apartment, #austin, #backstage-capital, #barack-obama, #cable-modem, #ceo, #dallas, #funding, #fundings-exits, #harvard-business-school, #houston, #motley-fool-ventures, #president, #real-estate, #recent-funding, #startup, #startup-company, #startups, #venture-capital, #vice-president

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Health care CEOs raked in $3.2 billion as pandemic raged

Health care CEOs raked in $3.2 billion as pandemic raged

Enlarge (credit: Getty Images | Jonathan Kitchen)

As the COVID-19 pandemic ravaged the country last year, the chief executive officers of 178 US healthcare companies saw their already lofty pay soar to even higher heights.

Collectively, the 178 CEOs took home $3.2 billion in 2020, according to a new analysis by Axios. Their median pay rose to $9 million, up from about $7.7 million in 2018 and $8 million in 2019. The 2019 US median household income was $68,703, according to the US Census Bureau. The Department of Housing and Urban Development estimates that the 2020 national median income for families was $78,500.

Thirty health care CEOs made over $30 million each. That list includes the CEOs of Regeneron ($174 million), Eli Lilly ($68 million), Teladoc ($45 million), UnitedHealth Group ($42 million), and Quest Diagnostics ($34 million).

Read 6 remaining paragraphs | Comments

#ceo, #compensation, #covid-19, #for-profit, #health-insurance, #healthcare, #hospitals, #policy, #science

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Motorway’s auction platform for second-hand cars raises $67.7M Series B led by Index Ventures

Motorway, is a UK startup that allows professional car dealers to bid in an auction for privately-owned cars for sale. The startup has had rapid success by removing a lot of friction in the process. It’s now raised £48m / $67.7m in a Series B round led by Index Ventures, along with new investors BMW i Ventures and Unbound. Existing investors Latitude and Marchmont Ventures also participated. The funding will be used to extend its platform and grow the current 160-strong team.

The startup allows consumers to sell their car for up to £1,000, by uploading its details via a smartphone. Over 3,000 professional car dealers then bid for the vehicle in a daily online auction. The highest offer wins the car, which is then collected for free by the winning dealer inside 24 hours. 

Motorway says it has sold 65,000 cars since its launch in 2017 and seen sales hit £50m in May 2021 alone, £2.5m of transactions a day, and more than 4,000 completed car sales a month. With only 5% of all vehicles in the UK sold online right now, there is plenty of headroom for this market to grow.
 
Tom Leathes, CEO of Motorway, said: “For half a century, inefficient offline processes have led to bad deals and a bad experience for both car sellers and car dealers. Motorway has fundamentally changed a broken experience where everyone ends up dissatisfied – and we’ve transformed it with a superior online experience where everybody wins. Cutting out the middlemen leaves both the consumer and car dealer with a better deal, all from home and without the stress. Our incredible growth so far is testament to our focus on delivering more value through technology – and this investment will provide us with the fuel to take Motorway to the next level.”
 
Danny Rimer, Partner at Index Ventures, said: “We’re always looking to invest in companies that are truly disrupting an industry and meeting a real customer need. We have found that in Motorway. The team has built an incredibly powerful platform, underpinned by great technology and a deep understanding of the challenges both consumers and car dealers face. Motorway has quickly become the first port of call for tens of thousands of people selling their car.” 
 
Motorway previously raised £14m in venture funding since it was founded by Tom Leathes, Harry Jones and Alex Buttle in 2017.

Speaking to me over interview Leathes added: “COVID has been a real accelerator of something that was already happening. The car industry is moving online and that’s partly about people buying their next car online, but it’s also about dealers changing their behavior, how they do business, where they buy their cars. It forced that change which they resisted for a long time, and now they’re embracing it, so it’s a fundamental shift in the industry. And this is why we see such a massive opportunity to provide the rails to help both sides of the marketplace to move online.”

Rimer added: “It’s rare that you have founders who have worked together across multiple successful and less successful startups who have that scar tissue and success, and are now going for a much bigger opportunity. The business model is really an important one for us because instead of owning inventory and then having to get rid of your inventory, sort of like the difference between Nat-a-Porter and Farfetch. Motorway’s marketplace is just like Farfetch – they don’t have any inventory, which means that just by merely making that platform happen for buyers and sellers, they win. So there’s a lot less risk associated with what the money is going to be used for when building the business.”

#auction, #car-dealership, #car-sales, #ceo, #danny-rimer, #europe, #farfetch, #motorway, #smartphone, #tc, #transport, #united-kingdom

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Cyber security training platform Immersive Labs closes $75M Series C led by Insight Partners

Immersive Labs, a platform which teaches cyber security skills corporate employees by using real, up-to-date threat intelligence in a “gamified” way, has closed a $75 million Series C funding round led by new investors Insight Partners alongside Menlo Ventures, Citi Ventures and existing investor Goldman Sachs Asset Management.

The investment will be used to scale Immersive’s offering in the US and take advantage of the new wave of interest in cyber threats caused by so many people working remotely, post-pandemic. Founded in 2017, Immersive Labs now has 200 people, with joint operations HQs in Bristol, UK, and Boston, US. It plans to raise headcount to over 600 in the next two years and establish operations in new regions throughout APAC and Europe. Immersive’s ‘Cyber Workforce Optimization’ platform claims to offer board-level metrics and benchmarking to gauge how the skills inside organizations are coping.

Immersive has now raised a total of $123m in venture funding and counts HSBC, Vodafone, and the NHS as customers. The company says it is growing at “over 100% year-on-year”.

James Hadley, CEO and founder of Immersive Labs, said: “With cyber risk becoming a problem for a growing number of business functions, cybersecurity knowledge and skills should no longer be the preserve of a few technical people hidden away in a back office. Everyone from the teams who build software, to the CEO, now need to play their part in addressing a pervasive company issue. This requires unlocking and evidencing skills in a much broader group of people.”

Ryan Hinkle, managing director at Insight Partners, said: “With significant global customer and revenue growth over the last few years, Immersive Labs has established a strong position in the fast-developing cyber skills space. With influential leadership, an innovative product in a growing market, and strong user engagement, the company is in a position to continue to lead the cyber readiness market.”

Speaking to me over an interview, Hadley added: “We chose Insight Partners because they’ve got a real strength in enterprise B2B which is where we sell to CIOs and CEOs… We want to be the next Darktrace in terms of a successful UK cybersecurity company.”

The comparison might not be that fanciful. Immersive Labs came out of the CYLON cyber accelerator, similar to Darktrace, has the same investors as Darktrace, but has in fact attracted $75m for its Series C, whereas Darktrace didn’t manage that level until Series D. Darktrace has now IPO’d in the London for £1.7bn.

Hadley, a former GCHQ security researcher and trainer, came up with the idea for the cyber skills platform while leading cyber training himself. I asked him why he thinks Immersive has managed to come up with a ‘flywheel effect’ with its platform.

“People always talk about all the cyber threats getting worse, but it really is now and it’s in the public domain. We’ve got a strong belief that cybersecurity is no longer the responsibility of the geeks in the basement. Actually, it’s business-wide. And now the tidal wave is coming. Cybercrime is going to go off the scale this year and next because companies are paying the ransoms. And as a result of that, we’re putting in analytics to measure decision-making in a crisis. It’s just resonating really well with every company regardless of CIO or vertical,” he told me.

#boston, #bristol, #ceo, #cio, #citi-ventures, #computer-security, #crime, #cybercrime, #darktrace, #data-security, #europe, #gchq, #hsbc, #immersive, #immersive-labs, #london, #menlo-ventures, #nhs, #series-c, #tc, #united-kingdom, #united-states, #vodafone

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Productivity startup Time is Ltd raises $5.6M to be the ‘Google Analytics for company time’

Productivity analytics startup Time is Ltd wants to be the Google Analytics for company time. Or perhaps a sort of “Apple Screen Time” for companies. Whatever the case, the founders reckon that if you can map how time is spent in a company enormous productivity gains can be unlocked and, money better spent.

It’s now raised a $5.6 million late seed funding round led by Mike Chalfen, of London-based Chalfen Ventures, with participation from Illuminate Financial Management and existing investor Accel. Acequia Capital and former Seal Software chairman Paul Sallaberry are also contributing to the new round, as is former Seal board member Clark Golestani. Furthermore, Ulf Zetterberg, founder and former CEO of contract discovery and analytics company Seal Software, is joining as President and co-founder.

The venture is the latest from serial entrepreneur Jan Rezab, better known for founding SocialBakers, which was acquired last year.

We are all familiar with inefficient meetings, pestering notifications chat, video conferencing tools and the deluge of emails. Time is Ltd. says it plans to address this by acquiring insights and data platforms such as Microsoft 365, Google Workspace, Zoom, Webex, MS Teams, Slack, and more. The data and insights gathered would then help managers to understand and take a new approach to measure productivity, engagement, and collaboration, the startup says.

The startup says it has now gathered 400 indicators that companies can choose from. For example, a task set by The Wall Street Journal for Time is Ltd. found the average response time for Slack users vs. email was 16.3 minutes, comparing to emails which was 72 minutes.

Chalfen commented: “Measuring hybrid and distributed work patterns is critical for every business. Time Is Ltd.’s platform makes such measurement easily available and actionable for so many different types of organizations that I believe it could make work better for every business in the world.”

Rezab said: “The opportunity to analyze these kinds of collaboration and communication data in a privacy-compliant way alongside existing business metrics is the future of understanding the heartbeat of every company – I believe in 10 years time we will be looking at how we could have ignored insights from these platforms.”

Tomas Cupr, Founder and Group CEO of Rohlik Group, the European leader of e-grocery, said: “Alongside our traditional BI approaches using performance data, we use Time is Ltd. to help improve the way we collaborate in our teams and improve the way we work both internally and with our vendors – data that Time is Ltd. provides is a must-have for business leaders.”

#accel, #analytics, #apple, #articles, #board-member, #business-intelligence, #ceo, #chairman, #computing, #digital-marketing, #e-grocery, #europe, #google, #leader, #london, #microsoft, #mike-chalfen, #seal-software, #serial-entrepreneur, #slack, #socialbakers, #software, #tc, #the-wall-street-journal, #time-is-ltd, #video-conferencing, #webex

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Fintech startup TreasurySpring raises $10M for platform giving online access to Fixed-term-funds

Fixed-term-funds (FTFs) have historically been a bank-to-bank market. FTF products allow for investing into some of the safest assets including, UK Government bonds, US Government bonds and highly-rated corporations. They allow holders of large amounts of cash (such as charities, private funds, family offices etc) to reduce and diversify their risk, but also increasing returns.

TreasurySpring is a fintech startup that is aiming to opening up access to this area of financial markets, by creating a Fixed-Term Fund platform. It’s now raised a $10 million Series A investment round co-led by MMC Ventures and Anthemis Group. Existing investors, including ETFS Capital, participated, taking the total its raised to $15 million.

TreasurySpring says its FTF platform gives holders of large cash balances online access to a menu of proprietary cash investments on a daily basis. This gives them access to an asset class that is usually only available to major financial institutions.

Founded in 2016 by Kevin Cook (CEO), Matthew Longhurst and James Skillen, Cook said in a statement: “Following a break-out 12 months in which we increased AUM by 10x, we wanted to bring in the best possible investment partners to support our ambitious growth plans. We have long admired both Anthemis Group and MMC, so I am delighted that they co-led the round and we are excited to work with Sean, Ollie and their respective teams, as we move into the next phase of our journey to redefine cash investment and front-office treasury.”

Given the current low and negative interest rates and an uncertain global financial outlook, TreasurySpring says its platform is likely to appeal as an alternative to traditional bank deposits and money market funds. It says it’s now issued more than $9B of FTFs to a client base which includes FTSE 100 and other listed companies, fund managers, large private companies, charities, and family offices.

Yann Ranchere, partner at Anthemis Group said: “With its ambitious and mission-driven team, TreaurySpring is opening the traditional money market industry to a whole new pool of participants.”

Oliver Richards, partner at MMC Ventures added: “Having worked with the team at TreasurySpring for the last two years, we have absolute confidence in their ability to deliver on their unique vision to level the playing field in cash investing and short-term funding, through a platform that not only brings value to its clients and issuers but also enhances the diversification and systemic stability of the money markets as a whole.”

Does TreasurySpring have any direct competitors? The compay sdays not. That said, bank deposits and money market funds are still the only tools available to most holders of large cash balances, so the banks and asset managers that offer these products are competitors, “to an extent” admits the firm. Howeverr, they are also “collaborators in many instances.”

Cook said: “Adoption of the platform is being driven by a realisation that the risks and returns of the traditional [deposit and MMF] options are becoming ever less attractive, whilst building out the infrastructure to do anything else is complex, cumbersome, time consuming and expensive.”

#bank, #bond, #ceo, #economy, #europe, #finance, #fintech-startup, #investment, #mmc-ventures, #money, #ollie, #partner, #tc, #uk-government, #us-government

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RSA spins off fraud and risk intelligence unit as Outseer

RSA Security has spun out its fraud and risk intelligence business into a standalone company called Outseer that will double down on payment security tools amid an “unprecedented” rise in fraudulent transactions.

Led by CEO Reed Taussig, who was appointed head of RSA’s Anti-Fraud Business Unit last year after previously serving as CEO of ThreatMetrix, the new company will focus solely on fraud detection and management and payments authentication services.

Outseer will continue to operate under the RSA umbrella and will inherit three core services, which are already used by more than 6,000 financial institutions, from the company: Outseer Fraud Manager (formerly RSA Adaptive Authentication), a risk-based account monitoring service; 3-D Secure (formerly Adaptive Authentication for eCommerce), a card-not-present and digital payment authentication mapping service; and FraudAction, which detects and takes down phishing sites, dodgy apps and fraudulent social media pages.

Outseer says its product portfolio is supported by deep investments in data and science, including a global network of verified fraud and transaction data, and a risk engine that the company claims delivers 95% fraud detection rates.

Commenting on the spinout, Taussig said: “Outseer is the culmination of decades of science-driven innovation in anti-fraud and payments authentication solutions. As the digital economy continues to deepen, the Outseer mission to liberate the world from transactional fraud is essential. Our role as a revenue enabler for the global economy will only strengthen as every digital business continues to scale.”

RSA, meanwhile, will continue to focus on integrated risk management and security products, including Archer for risk management, NetWitness for threat detection and response, and SecureID for identity and access management (IAM) capabilities.

The spinout comes less than a year after private equity firm Symphony Technology Group (STG), which recently bought FireEye’s product business for $1.2 billion, acquired RSA Security from Dell Technologies for more than $2 billion. Dell had previously acquired RSA as part of its purchase of EMC in 2016.

It also comes amid a huge rise in online fraud fueled by the COVID-19 pandemic. The Federal Trade Commission said in March that more than 217,000 Americans had filed a coronavirus-related fraud report since January 2020, with losses to COVID-linked fraud totaling $382 million. Similarly, the Consumer Financial Protection Bureau fielded 542,300 fraud complaints in 2020, a 54% increase over 2019.

RSA said that with the COVID-19 pandemic having fueled “unprecedented” growth in fraudulent transactions, Outseer will focus its innovation on payments authentication, mapping to the EMV 3-D Secure 2.x payment standard, and incorporating new technology integrations across the payments and commerce ecosystem. 

“Outseer’s reason for being isn’t just focused on eliminating payments and account fraud,” Taussig added. “These fraudulent transactions are often the pretext for more sinister drug and human trafficking, terrorism, and other nefarious behavior. Outseer has the ability to help make the world a safer place.”

Valuation information for Outseer was not disclosed, nor were headcount figures mentioned in the spinout announcement. Outseer didn’t immediately respond to TechCrunch’s request for more information. 

#3-d, #access-management, #articles, #ceo, #consumer-financial-protection-bureau, #crime, #deception, #e-commerce, #emc, #emv, #federal-trade-commission, #fireeye, #fraud, #head, #identity-theft, #online-fraud, #payments, #phishing, #risk-management, #rsa-security, #security, #symphony-technology-group, #threatmetrix

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Todd and Rahul’s Angel Fund closes new $24 million fund

After making investments in 57 startups together, Superhuman CEO Rahul Vohra and Eventjoy founder Todd Goldberg are back at it with a new $24 million fund and big ambitions amid a venture capital renaissance with fast-moving deals a plenty.

Todd and Rahul’s Angel Fund” announced their first $7.3 million fund just weeks before the pandemic hit stateside last year and they were soon left with more access to deals than they had funding to support; they went on raise $3.5 million in a rolling fund designed around making investments in later stage deals beyond Seed and Series A rounds.

“We closed right before Covid hit and we had one plan but then everything accelerated,” Goldberg tells TechCrunch. “A lot of our companies started raising additional rounds.”

With their latest raise, Vohra and Goldberg are looking to maintain their wide outlook with a single fund, saying they plan to invest three-quarters of the fund in early stage deals while saving a quarter of the $24 million for later stage opportunities. Still, the duo know they likely could’ve chosen to raise more.

“A lot of our peers were scaling up into much larger funds,” Vohra says. “For us, we wanted to stay small and collaborative.”

Some of the firm’s investments from their first fund include NBA Top Shot creator Dapper Labs, open source Firebase alternative Supabase, D2C liquor brand Haus, alternative asset platform Alt, biowearable maker Levels and location analytics startup Placer. Their biggest hit was an early investment in audio chat app Clubhouse before Andreessen Horowitz led its buzzy seed round at a $100 million valuation. Clubhouse most recently raised at $4 billion.

The pair say they’ve learned a ton through the past year of navigating increasingly competitive rounds and that fighting for those deals has helped the duo hone how they market themselves to founders.

“You never want to be a passive check,” Goldberg says. “We do three things: help companies find product/market fit, we help them super-charge distribution.. and we help them find the best investors.”

A big part of the firm’s appeal to founders has been the “operator” status of its founders. Goldberg’s startup Eventjoy was acquired by Ticketmaster and Vohra’s Rapportive was bought by Linkedin while his current startup Superhuman has maintained buzz for its premium email service and has raised $33 million from investors including Andreessen Horowitz and First Round Capital.

Their new has an unusual LP base that’s made up of over 110 entrepreneurs and investors, including 40 founders that Vohra and Goldberg have previously backed themselves. Backers of their second fund include Plaid’s William Hockey, Behance’s Scott Belsky, Haus’s Helena Price Hambrecht, Lattice’s Jack Altman and Loom’s Shahed Khan.

#andreessen-horowitz, #angel-fund, #angel-investor, #behance, #ceo, #dapper-labs, #eventjoy, #finance, #first-round-capital, #investment, #jack-altman, #lattice, #levels, #linkedin, #money, #national-basketball-association, #nba, #rahul-vohra, #scott-belsky, #shahed-khan, #startups, #superhuman, #tc, #ticketmaster, #todd-goldberg, #venture-capital

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Mythical Games raises $75M to build an NFT game engine

Even as NFT sales dip below their most speculative highs, startups aiming to tap into their potential are still scoring big funding rounds from investors who believe there’s much more to crypto collectibles than the past few months of hype.

Mythical Games, an NFT games startup based out of Los Angeles, has banked a $75 million raise from new and existing investors betting on the startup’s aim to expand the ambitions of their first title and locate a substantial platform opportunity amid helping developers build blockchain-based gaming experiences.

The round was led by WestCap. Existing investors were joined by 01 Advisors, Bilibili, Gary Vaynerchuk, the Glazer family, Moore Capital, and Redbird Capital in the Series B funding. The startup has raised a whopping $120 million to date.

The company has been building a title called Blankos Block Party that seems to be Fall Guys meets Roblox meets Funko Pop. The PC game capitalizes on a number of big social gaming trends around user-created content, while adding in a marketplace where users can buy avatar figures and accessories crafted by a variety of artists and designers that Mythical has partnered with. Users can buy or sell the limited run or open edition items through their marketplace. Unlike some other NFT platforms, the goods live on a private blockchain so they can’t be re-sold on public marketplace platforms like OpenSea.

Mythical Games is part of a growing movement to bring blockchain-based game mechanics mainstream while leaving behind elements of crypto platforms that are seen as less ready for primetime. Users can purchase avatars on the platform with cryptocurrency through BitPay but they can also pay with a credit card. Users don’t need to walk through the mechanics of setting up a wallet or writing down a seed phrase either.

While the company has big hopes for Blankos as it onboards more users, the bigger investor opportunity is likely in the game engine that the team is building. The startup’s “Mythical Economic Engine” is being designed to help budding game builders create NFT-based marketplaces that won’t get them in any regulatory trouble, marrying compliance across geographies and tools that help creators comply with anti-money laundering laws and know-your-customer frameworks.

“With any new market like [NFTs], it goes through all these different cycles,” Mythical Games CEO John Linden tells TechCrunch. “We think this will actually change gaming for the long haul. The more we talk to game studios, we’re finding more and more potential use cases.”

#advisors, #articles, #bilibili, #bitpay, #blockchain, #ceo, #computing, #cryptocurrencies, #cryptocurrency, #decentralization, #financial-technology, #funko, #gary-vaynerchuk, #los-angeles, #roblox, #tc, #technology, #westcap

0

Commit raises $6M seed round to match senior engineers to startups they want to work for

Commit, a Vancouver, Canada-based startup that has a unique approach to matching up engineers looking for a new job to early-stage startups that want to hire them, today announced that it has raised a $6 million seed round. Accomplice led the round, with participation from Kensington Capital Partners, Inovia and Garage Capital. 

The company, which focuses on working with remote-first startups, launched in 2019, with co-founders Greg Gunn (CEO) and Beier Cai (CTO), who met as early employees at Hootsuite, bootstrapping the company while they worked out the details of how they wanted Commit to work.

“I was an EIR [at Inovia Capital] and I just saw all these amazing founders that were coming in with world-changing ideas. They raised money, but their biggest challenge was getting an engineer to join them,” Gunn explained.

Beier Cai, Co-founder & CTO, Greg Gunn, Co-founder & CEO, , Tiffany Jung, VP, Strategy & Ops Image Credits: Commit

In his experience, founders typically look for senior full-stack tech leads to join their company, but it’s exactly those senior engineers that are often already in very comfortable roles at larger companies and taking a bet on an early-stage startup — or even a succession of early-stage startups — is often not the most pragmatic choice for them.

After talking to dozens of engineers, the founders found that many didn’t want to lose the support network they had built inside their current company, both from fellow engineers but also the kind of institutional support you get through formal and informal mentorship and personal development opportunities that most large tech companies offer. In addition, as Gunn noted, “hiring at early-stage startups sucks.” Senior engineers don’t want to have to go through a bunch of technical interviews anymore that test their whiteboarding skills but say very little about their actual capabilities as an engineer.

So the team decided to figure out ways to remove these barriers. Like a VC firm, it vets the startups and startup founders it works with, so the engineers that come to Commit know that these are serious companies with at least some prospect of raising funding and allowing their engineers to shape their trajectory and grow into what is potentially an early leadership role.

Meanwhile, it vets the engineers by giving them a technical interview so they can get started without having to do another one for every interview with the companies that partner with Commit. As Gunn noted, so far, the average engineer Commit has worked with only met 1.6 vetted founders before they started a pilot project together.

To mitigate some of the fiscal risks of leaving a large tech company, Commit actually pays the engineers it works with a salary until they find a job. Currently, around 90% of the engineers that start pilot projects with their prospective employees end up in full-time employment.

Image Credits: Commit

In addition to matching up founders and engineers, it also offers its community members access to an active remote-first community of fellow engineers for peer support and career advice, as well as coaching and other transition services.

In the backend, Commit uses a lot of data to match founders and engineers, but Gunn noted that while the team is very selective and has a tight profile for the people it partners with, it is committed to building a diverse pool of founders and engineers. “The thing we’re combating is the fact that these opportunities have been unevenly distributed,” he said. “Even within the Valley […] you have to be from a socio-economic class to even have access to those opportunities. For us, our whole business model is live where you want to live, but then get access to whatever opportunities you have.” Later this year, Commit plans to launch a project that specifically focuses on hiring diversity.

Commit’s startup partners currently include Patch, Plastiq, Dapper Labs, Relay, Certn, Procurify, Scope Security, Praisidio, Planworth, Georgian Partners and Lo3 Energy. The team started out slowly, working with fewer than 100 engineers so far, but hopes to expand its community to 10,000 engineers within the next 12 months. Starting today, engineers who want to join the program can now get on Commit’s waitlist.

#bootstrapping, #canada, #ceo, #commit, #cto, #economy, #engineer, #finance, #garage-capital, #georgian-partners, #hootsuite, #inovia-capital, #kensington-capital-partners, #money, #seed-money, #startup-company, #tc, #vancouver

0

Contentstack raises $57.5M for its headless content management system

Contentstack, a startup that offers a headless content management system (or a ‘content experience platform’ in marketing speak), today announced that it has raised a $57.5 million Series B round. The round, which the company says was oversubscribed, was led by Insight Partners, which also led its Series A round. New investor Georgian and existing investors Illuminate Ventures and GingerBread Capital also participated. With this, the company has now raised a total of $89 million.

“In the last year, we have helped leading companies in industries such as retail, financial services, gaming and travel to create personalized experiences for their customers in order to drive revenue, improve customer satisfaction and build customer loyalty,” said Neha Sampat, founder and CEO of Contentstack. “This round of financing demonstrates that our strategy is paying off, including our core beliefs around equality, customer care and product innovation. During a remarkably challenging year, our team delivered impressive results and we are excited to continue this growth trajectory by delivering the best agile CMS platform for a digital-first world.”

The company says it saw its customer base grow over 150% since closing its $31.5 million Series A round in October 2019. Among its new customers are Broadcom, Chico’s FAS, HP, La Perla, Leesa Sleep, McDonald’s and NBC.

In recent months, Contentstack launched a new user interface for these customers and the company argues that Georgian’s focus on AI and machine learning will allow it to bring more of these modern technologies to its platform as well.

“We are big believers in Contentstack and the leadership team, especially after our conversations with global brands revealed how important Contentstack is to these organizations and how beloved the product is by both business and technical users,” said Emily Walsh, Lead Investor at Georgian. “Now with access to our technology platform, Contenstack can not only gain operational efficiencies but also supercharge the innovation, experience and support it offers to customers and partners. We are excited to help Contentstack customers leverage AI to gain business advantages through new insights and automation.”

The company plans to use the new funding to accelerate its investments in this technology, fuel its international growth and expand its partner ecosystem.

#artificial-intelligence, #broadcom, #ceo, #content-management-system, #contentstack, #financial-services, #hp, #illuminate-ventures, #insight-partners, #machine-learning, #mcdonalds, #tc

0

Amid controversy, Dispo confirms Series A funding, high-profile advisors, and investors

It’s only been nine months since Dispo rebranded from David’s Disposables. But the vintage-inspired photo sharing app has experienced a whiplash of ups and downs, mostly due to the brand’s original namesake, YouTuber David Dobrik.

Like Clubhouse, Dispo was one of this year’s most hyped up new social apps, requiring an invite from an existing member to join. On March 9, when the company said “goodbye waitlist” and opened the app up to any iOS user, Dispo looked poised to be a worthy competitor to photo-sharing behemoths like Instagram. But, just one week later, Business Insider reported on sexual assault allegations regarding a member of Vlog Squad, a YouTube prank ensemble headed by Dispo co-founder David Dobrik. Dobrik had posted a now-deleted vlog about the night of the alleged assault, joking, “we’re all going to jail” at the end of the video.

It was only after venture capital firm Spark Capital decided to “sever all ties” with Dispo that Dobrik stepped down from the company board. In a statement made to TechCrunch at the time, Dispo said, “Dispo’s team, product, and most importantly — our community — stand for building a diverse, inclusive and empowering world.”

Dispo capitalizes on Gen Z and young millennial nostalgia for a time before digital photography, when we couldn’t take thirty selfies before choosing which one to post. On Dispo, when you take a photo, you have to wait until 9 AM the following day for the image to “develop,” and only then can you view and share it.

In both February and March of this year, the app hit the top ten of the Photo & Video category in the U.S. App Store. Despite the backlash against Dobrik, which resulted in the app’s product page being bombarded with negative comments, the app still hit the top ten in Germany, Japan, and Brazil, according to their press release. Dispo reportedly has not yet expended any international marketing resources.

Now, early investors in Dispo like Spark Capital, Seven Seven Six, and Unshackled have committed to donate any potential profits from their investment in the app to organizations working with survivors of sexual assault. Though Axios reported the app’s $20M Series A funding news in February, Dispo put out a press release this morning confirming the financing event. Though Seven Seven Six and Unshackled Ventures intend to donate profits from the app, they remain listed as investors, while Spark Capital is not. Other notable names involved in the project include high-profile photographers like Annie Leibovitz and Raven B. Varona, who has worked with artists like Beyoncé and Jay-Z. Actresses Cara Delevingne and Sofía Vergara, as well as NBA superstars Kevin Durant and Andre Iguodala, are also involved with the app as investors or advisors.

Dobrik’s role in the company was largely as a marketer – CEO Daniel Liss co-founded the app with Dobrik and has been leading the team since the beginning. After Dobrik’s departure, the Dispo team – which remains under twenty members strong – took a break from communications and product updates on the app. It’s expected that after today’s funding confirmation, the app will continue to roll out updates.

Dispo is quick to shift focus to the work of their team, which they call “some of the most talented, diverse leaders in consumer tech.” With the capital from this funding round, they hope to hire more staff to become more competitive with major social media apps with expansive teams, like Instagram and TikTok, and to experiment with machine learning. They will also likely have some serious marketing to do, now that their attempt at influencer marketing has failed massively.

Now more than ever, Dispo is promoting the app as a mental health benefit, hoping to shift the tide away from manufactured perfectionism toward more authentic social media experiences.

“A new era of start ups must emerge to end the scourge of big tech’s destruction of our political fabric and willful ignorance of its impact on body dysmorphia and mental health,” CEO Daniel Liss writes in a Substack post titled Dispo 2.0. “Imagine a world where Dispo is the social network of choice for every teen and college student in the world. How different a world would that be?”

But, for an app that propelled to success off the fame of a YouTuber with a history of less than savory behavior, that messaging might fall flat.

According to Sensor Tower, the highest Dispo has ever ranked in the Photo & Video category on the U.S. App Store was in January 2020, when it was still called David’s Disposables. The app ranked No. 1 in that category from January 7 to January 9, and on January 8, it reached No. 1 among all free iPhone apps.

#advisors, #andre-iguodala, #annie-leibovitz, #app-store, #apps, #brazil, #ceo, #co-founder, #computing, #david-dobrik, #digital-photography, #dispo, #freeware, #germany, #instagram, #internet-culture, #japan, #kevin-durant, #mobile-applications, #national-basketball-association, #nba, #social-media, #software, #spark-capital, #techcrunch, #united-states, #unshackled-ventures, #venture-capital, #world-wide-web

0

Honeywell and Cambridge Quantum form joint venture to build a new full-stack quantum business

Honeywell, which only recently announced its entry into the quantum computing race, and Cambridge Quantum Computing (CQ), which focuses on building software for quantum computers, today announced that they are combining Honeywell’s Quantum Solutions (HQS) business with Cambridge Quantum in the form of a new joint venture.

Honeywell has long partnered with CQ and invested in the company last year, too. The idea here is to combine Honeywell’s hardware expertise with CQ’s software focus to build what the two companies call “the world’s highest-performing quantum computer and a full suite of quantum software, including the first and most advanced quantum operating system.”

The merged companies (or ‘combination,’ as the companies’ press releases calls it) expect the deal to be completed in the third quarter of 2021. Honeywell Chairman and CEO Darius Adamczyk will become the chairman of the new company. CQ founder and CEO Ilyas Khan will become the CEO and current Honeywell Quantum Solutions President Tony Uttley will remain in this role at the new company.

The idea here is for Honeywell to spin off HQS and combine it with CQC to form a new company, while still playing a role in its leadership and finances. Honeywell will own a majority stake in the new company and invest between $270 and $300 million. It will also have a long-term agreement with the new company to build the ion traps at the core of its quantum hardware. CQ’s shareholders will own 45% of the new company.

Image Credits: Honeywell

“The new company will have the best talent in the industry, the world’s highest-performing quantum computer, the first and most advanced quantum operating system, and comprehensive, hardware-agnostic software that will drive the future of the quantum computing industry,” said Adamczyk. “The new company will be extremely well positioned to create value in the near-term within the quantum computing industry by offering the critical global infrastructure needed to support the sector’s explosive growth.”

The companies argue that a successful quantum business will need to be supported by large-scale investments and offer a one-stop shop for customers that combines hardware and software. By combining the two companies now, they note, they’ll be able to build on their respective leadership positions in their areas of expertise and scale their businesses while also accelerate their R&D and product roadmaps.

“Since we first announced Honeywell’s quantum business in 2018, we have heard from many investors who have been eager to invest directly in our leading technologies at the forefront of this exciting and dynamic industry – now, they will be able to do so,” Adamczyk said. “The new company will provide the best avenue for us to onboard new, diverse sources of capital at scale that will help drive rapid growth.”

CQ launched in 2014 and now has about 150 employees. The company raised a total of $72.8 million, including a $45 million round, which it announced last December. Honeywell, IBM Ventures, JSR Corporation, Serendipity Capital, Alvarium Investments and Talipot Holdings invested in this last round — which also means that IBM, which uses a different technology but, in many ways, directly competes with the new company, now owns a (small) part of it.

#ceo, #chairman, #emerging-technologies, #enterprise, #honeywell, #operating-system, #president, #quantum-computing, #tc, #technology

0

Almanac is building a faster doc editor for the remote work era

Few things have captured Silicon Valley-based investors’ attention in recent years quite like the quest to back the successor[s] to Google Docs. The estimable and entrenched productivity suite has been unbundled and repackaged into products that a number of multi-billion dollar tech startups have been built around.

All the while, entrepreneurs are continuing to poke holes in their predecessors’ lore, creating something faster, sleeker or more intuitive. For plenty of the current generation productivity startups, the journey to replace Google Docs and Microsoft Office got a historic shot in the arm this past year as a global pandemic gave remote work software companies a jot of attention.

“Covid has made everybody realize that the way that we were working had to change,” Almanac CEO Adam Nathan told TechCrunch. “The core tools we used for productivity, Microsoft Word and Google Docs were for when we did a completely different type of work.”

Almanac is trying to revamp the document editor in a package that’s quicker than products like Notion and far more intuitive than legacy software suites, Nathan says. Last year, the startup raised a $9 million seed round led by Floodgate and has been quietly building out its network of users in early access beta.

The document editor found its way into a diverse number of offices outside tech startups — from a Domino’s branch to a veterinary office — through its open source template library Core, a hub for user-submitted guides on everything from how to run a one-on-one meeting to how to structure salaries for your customer service team. There are 5,000 documents on Core which are accessible to any logged-in user, something that has been a sizable customer channel for the startup as more companies and offices across the country have begun to question some entrenched ways of doing things.

“There are way more people working in docs outside of Silicon Valley than in it,” Nathan says.

As a document editor, Almanac’s core offering is the ability to keep files organized in the way that companies actually organize themselves.

One of its hallmark features is the ability to track document changes in a way that makes Google Docs look completely unintelligible. User can easily make their own copies of documents, merge them with the original and quickly approve changes. Users can also get approval from their manager or another user in their network and ask for feedback along the way.

For tasks that require a bit more thought, people can use Almanac to add tasks to another users to-do list inside the documents themselves, a feature that they might have needed a project management tool like Asana to handle in the past. Updates for items a user has been assigned or has assigned to others live inside their own inbox where notifications flow automatically as documents evolve. The team believes that functionality like this inside Almanac will help teams cut down on unnecessary Slacking and let the documents speak for themselves.

The company is quickly iterating itself into new workflows — they recently launched a feature specifically around building and updating handbooks, and they also just shipped a feature called Snippets which allows users to save oft-used blocks of texts so they can quickly build up new documents.

In a crowded productivity software space, Almanac’s sell relies on users fully committing to the offering, that’s been a central struggle in the post-Microsoft Office era where users have often seen their productivity toolsets swell with tools claiming to cut down on confusion. This often isn’t the fault of the tools themselves, but with how organizations adopt new software. Almanac hopes that by focusing on common workflows inside documents, its users can resist the urge to open another app and instead realize the gains that come from centralizing feedback in one platform.

#asana, #ceo, #chemistry, #dominos, #silicon, #silicon-valley, #tc

0

Croatia’s Gideon Brothers raises $31M for its 
3D vision-enabled autonomous warehouse robots

Proving that Central and Eastern Europe remains a powerhouse of hardware engineering matched with software, Gideon Brothers (GB), a Zagreb, Croatia-based robotics and AI startup, has raised a $31 million Series A round led by Koch Disruptive Technologies (KDT), the venture and growth arm of Koch Industries Inc., with participation from DB Schenker, Prologis Ventures, and Rite-Hite.

The round also includes participation from several of Gideon Brothers’ existing backers: Taavet Hinrikus (co-founder of TransferWise), Pentland Ventures, Peaksjah, HCVC (Hardware Club), Ivan Topčić, Nenad Bakić, and Luca Ascani.

The investment will be used to accelerate the development and commercialization of GB’s AI and 3D vision-based ‘autonomous mobile robots’ or ‘AMRs’. These perform simple tasks such as transporting, picking up, and dropping off products in order to free up humans to perform more valuable tasks.

The company will also expand its operations in the EU and US by opening offices in Munich, Germany and Boston, Massachusetts, respectively.

Gideon Brothers founders

Gideon Brothers founders

Gideon Brothers make robots and the accompanying software platform that specializes in horizontal and vertical handling processes for logistics, warehousing, manufacturing, and retail businesses. For obvious reasons, the need to roboticize supply chains has exploded during the pandemic.

Matija Kopić, CEO of Gideon Brothers, said: “The pandemic has greatly accelerated the adoption of smart automation, and we are ready to meet the unprecedented market demand. The best way to do it is by marrying our proprietary solutions with the largest, most demanding customers out there. Our strategic partners have real challenges that our robots are already solving, and, with us, they’re seizing the incredible opportunity right now to effect robotic-powered change to some of the world’s most innovative organizations.”

He added: “Partnering with these forward-thinking industry leaders will help us expand our global footprint, but we will always stay true to our Croatian roots. That is our superpower. The Croatian start-up scene is growing exponentially and we want to unlock further opportunities for our country to become a robotics & AI powerhouse.”

Annant Patel, Director at Koch Disruptive Technologies said: “With more than 300 Koch operations and production units globally, KDT recognizes the unique capabilities of and potential for Gideon Brothers’ technology to substantially transform how businesses can approach warehouse and manufacturing processes through cutting edge AI and 3D AMR technology.”

Xavier Garijo, Member of the Board of Management for Contract Logistics, DB Schenker added: “Our partnership with Gideon Brothers secures our access to best in class robotics and intelligent material handling solutions to serve our customers in the most efficient way.”

GB’s competitors include Seegrid, Teradyne (MiR), Vecna Robotics, Fetch Robotics, AutoGuide Mobile Robots, Geek+ and Otto Motors.

#articles, #artificial-intelligence, #boston, #central-europe, #ceo, #co-founder, #croatia, #db-schenker, #director, #eastern-europe, #europe, #european-union, #fetch-robotics, #geek, #germany, #gideon-brothers, #hardware-club, #koch-disruptive-technologies, #manufacturing, #massachusetts, #munich, #otto-motors, #robot, #robotics, #science-and-technology, #software-platform, #taavet-hinrikus, #tc, #teradyne, #transferwise, #united-states, #zagreb

0

Lifted raises $6.2M Series A round led by Fuel Ventures for its long-term social care platform

As people live longer and longer and have long-term health issues like cancer and dementia, caring for elderly relatives is becoming a huge societal and political issue. Right now this care is antiquated and run by incumbents, many of which still run off paper and Excel. We are now seeing a new wave of startups turn up to tackle this space by applying Apple’s age-old model of owning the experience end-to-end and running everything on a platform.

The latest to join this race is UK startup Lifted, which has now raised $6.2 million in a Series A funding round led by Fuel Ventures. Also participating were existing investor 1818 Venture Capital as well as new investors Novit Ventures, Perivoli Innovations, the J.B. Ugland family office, and a number of Angels. This latest funding round takes the total raised by Lifted to $11.2M.

Lifted says its UK market is increasing and claims the number of people caring for adult loved ones has risen exponentially during the pandemic, with almost 1 in 2 people supporting people outside their household.

The startup is entering a perfect storm of increasing need, unpopular care homes, and the UK Government still without a long-term plan for social care.

Lifted app

Lifted app

In contrast to a raft of agencies and freelancers, Lifted directly employs its care workforce and uses its platform to “gamify and improve the experience of carers to make them perform better in people’s lives and also to restore respect to the caring profession” with its Care Management Platform, says the company.

Lifted has also acquired the ‘Live Better With Dementia’ website and launched the Lifted Dementia Hub, an online community with a marketplace of products.

Rachael Crook co-founded Lifted with Sam Cohen. She says she was inspired to get into the sector when, at the age of 24, she had to care for her mother, who was diagnosed with dementia at age 56.

Rachael Crook, Lifted CEO sold me at an interview: “I was in that position much younger than most people. And it seemed abundantly clear to me that it was an experience that was hugely emotionally important to me, and financially expensive, was really convoluted and frustrating. It made an already really difficult time, more difficult. My mum brought me up to really fight for the underdog and I felt like the carers themselves were getting a really poor deal. And yet, it’s a huge colossal market. The care market is set to double in the next 20 years, and for the next 10 years, we will look to compete against traditional care companies. We want to transform the care experience. This is a product that is worth four and a half times your mortgage. And yet, it’s predominantly bought in a really antiquated way with paper and pen systems. It’s really hard to keep up to date with your loved ones’ care. We’re also competing against new entrants.”

She added: “In 12 months, we have tripled revenue, launched the first App in the world to offer free care advice, and cut Carer churn to half the industry average, all while maintaining exclusively 5-star reviews on Trustpilot.”

Mark Pearson, Managing Partner of Fuel Ventures said: “Rachael, Sam and their team have delivered exceptional growth in the past year. They have a unique vision of the future for care and their model is delivering clear results for both sides of the marketplace.”

#caregiving, #ceo, #dementia, #europe, #fuel-ventures, #health, #managing-partner, #mark-pearson, #online-community, #tc, #trustpilot, #uk-government, #united-kingdom

0

Art app SketchAR to allow artists to list their artworks on NFT marketplaces directly

An update to an existing art app that allows artists to access NFT marketplaces directly, could have the potential to democratize access to the NFT world for artists not currently in crypto. SketchAR, is an existing mobile app that allows artists to turn photos into illustrations using its AI-based computer vision. It is now is launching a new feature that allows users to turn their art into NFTs directly inside the app, and then sell it. Content produced on the app can also include a public community feed and digital learning courses.

The app, which boasts it has almost a million users already, will start off selecting a single ‘Creator of the Week’ from its community for their art to be NFT’d on the OpenSea marketplace. But a new feature will shortly enable any artist using the platform to create and auction an NFT on-demand.

However, there a catch. The artwork will have to be created directly in the SketchAR app in order to prove the artist is the legitimate rights holder, says the startup. This is, however, an advantage, says the startup, since very few marketplaces monitor the derivation and authenticity of artworks uploaded proactively.

And for now, it looks like there is no real equivalent app on the market, although there are of course plenty of ways to create an artwork and then upload it to an NFT marketplace in a separate process.

Andrey Drobitko, CEO and founder told me: “It’s a unique offer since it allows even amateur designers to create an art piece and turn it into an NFT without diving deep into the ecosystem, connecting their wallet to their OpenSea account and paying significant gas fees to minting.”

He said: “Since the art piece comes from the app SketchAR, it also ensures it’s authentic and wasn’t stolen – something that happened quite a few times with NFTs.”

SketchAR said it also built its own infrastructure that allows it to use Ethereum and other 2-layer solutions like Flow, Immutable, or Binance Smart Chain, to reduce costs.

“Basically it competes with artists and designers learning a lot about blockchain, how to work with it, and working directly with marketplaces like OpenSea or Rarible” added Drobitko.

“15 years ago I realized I couldn’t make much money as an artist and only continued to make art for pleasure. It’s different now and we’re excited to support artists, help them develop creative skills, and successfully monetize their artworks,” he said.

It’s estimated there are roughly 50 million artists globally, but fewer than 10% are able to make it their primary source of income.

According to NonFungible.com more than $2 billion was spent on NFTs during the first quarter of 2021 representing an increase of about 2,100% from Q4 2020.

#artificial-intelligence, #artist, #blockchains, #ceo, #distributed-computing, #ethereum, #europe, #tc

0

Apple finally launches a Screen Time API for app developers

Just after the release of iOS 12 in 2018, Apple introduced its own built-in screen time tracking tools and controls. In then began cracking down on third-party apps that had implemented their own screen time systems, saying they had done so through via technologies that risked user privacy. What wasn’t available at the time? A Screen Time API that would have allowed developers to tap into Apple’s own Screen Time system and build their own experiences that augmented its capabilities. That’s now changed.

At Apple’s Worldwide Developer Conference on Monday, it introduced a new Screen Time API that offers developer access to frameworks that will allow parental control experience that also maintains user privacy.

The company added three new Swift frameworks to the iOS SDK that will allow developers to create apps that help parents manage what a child can do across their devices and ensure those restrictions stay in place.

The apps that use this API will be able to set restrictions like locking accounts in place, preventing password changes, filtering web traffic, and limiting access to applications. These sorts of changes are already available through Apple’s Screen Time system, but developers can now build their own experiences where these features are offered under their own branding and where they can then expand on the functionality provided by Apple’s system.

 

Developers’ apps that take advantage of the API can also be locked in place so it can only be removed from the device with a parent’s approval.

The apps can authenticate the parents and ensure the device they’re managing belongs to a child in the family. Plus, Apple said the way the system will work lets parents choose the apps and websites they want to limit, without compromising user privacy. (The system returns only opaque tokens instead of identifiers for the apps and website URLs, Apple told developers, so the third-parties aren’t gaining access to private user data like app usage and web browsing details. This would prevent a shady company from building a Screen Time app only to collect troves of user data about app usage, for instance.)

The third-party apps can also create unique time windows for different apps or types of activities, and warn the child when time is nearly up. When it registers the time’s up, the app lock down access to websites and apps and perhaps remind the child it’s time to their homework — or whatever other experience the developer has in mind.

And on the flip side, the apps could create incentives for the child to gain screen time access after they complete some other task, like doing homework, reading or chores, or anything else.

Developers could use these features to design new experiences that Apple’s own Screen Time system doesn’t allow for today, by layering their own ideas on top of Apple’s basic set of controls. Parents would likely fork over their cash to make using Screen Time controls easier and more customized to their needs.

Other apps could tie into Screen Time too, outside of the “family” context — like those aimed at mental health and wellbeing, for example.

Of course, developers have been asking for a Screen Time API since the launch of Screen Time itself, but Apple didn’t seem to prioritize its development until the matter of Apple’s removal of rival screen time apps was brought up in an antitrust hearing last year. At the time, Apple CEO Tim Cook defended the company’s decision by explaining that apps had been using MDM (mobile device management) technology, which was designed for managing employee devices in the enterprise, not home use. This, he said, was a privacy risk.

Apple has a session during WWDC that will detail how the new API works, so we expect we’ll learn more soon as the developer info becomes more public.

read more about Apple's WWDC 2021 on TechCrunch

#api, #app-store, #apple, #apple-inc, #apps, #ceo, #computing, #ios, #mach, #mobile-device, #mobile-device-management, #operating-systems, #screen-time, #technology, #tim-cook, #web-traffic, #wwdc-2021

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In search of a new crypto deity

Hello friends, and welcome back to Week in Review!

Last week, I wrote about tech taking on Disney. This week, I’m talking about the search for a new crypto messiah.

If you’re reading this on the TechCrunch site, you can get this in your inbox from the newsletter page, and follow my tweets @lucasmtny.


The Big Thing

Elon has worn out his welcome among the crypto illuminati, and the acolytes of Bitcoin are searching out a new emperor god king.

This weekend, thousands of crypto acolytes and investors have descended on a Bitcoin-themed conference in Miami, a very real, very heavily-produced conference sporting crypto celebrities and actual celebrities all on a mission to make waves.

Even though I am not at the conference in person (panels from its main stage were live-streamed online), I have plenty of invites in my email for afterparties featuring celebrities, open bars and endless conversations on the perils of fiat. The cryptocurrency community has never been larger or richer thanks to its most fervent bull run yet, and despite a pretty noteworthy correction in the past few weeks, people believe the best is yet to come.

Despite having so much, what they still seem to be lacking is a patron saint.

For the longest bout, that was SpaceX and Tesla CEO Elon Musk who bolstered the currency by pushing Tesla to invest cash on its balance sheet into bitcoin, while also pushing for Tesla to accept bitcoin payments for its vehicles. As I’ve noted in this newsletter in the past, Musk had a tough time reconciling the sheer energy use of bitcoin’s global network with his eco warrior bravado which has seemed to lead to his mild and uneven excommunication (though I’m sure he’s welcome back at any time).

There are plenty of celebrities looking to fill his shoes — a recent endorsement gone wrong by Soulja Boy was one of the more comical instances.

Crypto has been no stranger to grift — of that even the most hardcore crypto grifters can likely agree — and I think there’s been some agreement that the only leader who can truly preach the gospel is someone who is already so rich they don’t even need more money. It’s one reason the community has offered up so much respect for Ethereum founder Vitalik Buterin who truly doesn’t seem to care too much about getting any wealthier — he donated about $1 billion worth of crypto to Covid relief efforts in India. A Musk-like cheerleader serves a different purpose though, and so the community is in search of a Good Billionaire.

The best runner-up at the moment appears to be one Jack Dorsey, and while — like Musk — he is also another double-CEO, he is quite a bit different from him in demeanor and desire for the spotlight. He was, however, a headline speaker at Miami’s Bitcoin conference.

Dorsey gathers the most headlines for his work at Twitter but it’s Square where he is pushing most of his crypto enthusiasm. Users can already use Square’s Cash App to buy Bitcoin. Minutes before going onstage Friday, Dorsey tweeted out a thread detailing that Square was interested in building its own hardware wallet that users could store cryptocurrency like bitcoin on outside of the confines of an exchange.

“Bitcoin changes absolutely everything,” Dorsey said onstage. “I don’t think there is anything more important in my lifetime to work on.”

And while the billionaire Dorsey seems like a good choice on paper — he tweets about bitcoin often, but only good tweets. He defends its environmental effects. He shows up to House misinformation hearings with a bitcoin tracker clearly visible in the background. He is also unfortunately the CEO of Twitter, a company that’s desire to reign in its more troublesome users — including one very troublesome user — has caused a rift between him and the crypto community’s very vocal libertarian sect.

Dorsey didn’t make it very far into his speech before a heckler made a scene calling him a hypocrite because of all this with a few others piping in, but like any good potential crypto king would know to do, he just waited quietly for the noise to die down.


(Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)

Other things 

Here are the TechCrunch news stories that especially caught my eye this week:

Facebook’s Trump ban will last at least 2 years
In response to the Facebook Oversight Board’s recommendations that the company offer more specificity around its ban of former President Trump, the company announced Friday that it will be banning Trump from its platforms through January 2023 at least, though the company has basically given itself the ability to extend that deadline if it so desires…

Nigeria suspends Twitter
Nigeria is shutting down access to Twitter inside the country with a government official citing the “use of the platform for activities that are capable of undermining Nigeria’s corporate existence.” Twitter called the shutdown “deeply concerning.”

Stack Overflow gets acquired for $1.8 billion
Stack Overflow, one of the most-visited sites of developers across the technology industry, was acquired by Prosus. The heavy hitter investment firm is best known for owning a huge chunk of Tencent. Stack Overflow’s founders say the site will continue to operate independently under the new management.

Spotify ups its personalization
Music service Spotify launched a dedicated section this week called Only You which aims to capture some of the personalization it has been serving up in its annual Spotify Wrapped review. Highlights of the new feature include blended playlists with friends and mid-year reviews.

Supreme Court limits US hacking law in landmark case
Justices from the conservative and liberal wings joined together in a landmark ruling that put limits on what kind of conduct can be prosecuted under the controversial Computer Fraud and Abuse Act.

This one email explains Apple
Here’s a fun one, the email exchange that birthed the App Store between the late Steve Jobs and SVP of Software Engineering, Bertrand Serlet as annotated by my boss Matthew Panzarino.


illustration of money raining down

Image Credits: Bryce Durbin / TechCrunch

Extra things

Some of my favorite reads from our Extra Crunch subscription service this week:

For SaaS startups, differentiation is an iterative process
“The more you know about your target customers’ pain points with current solutions, the easier it will be to stand out. Take every opportunity to learn about the people you are aiming to serve, and which problems they want to solve the most. Analyst reports about specific sectors may be useful, but there is no better source of information than the people who, hopefully, will pay to use your solution..”

3 lessons we learned after raising $6 million from 50 investors
“…being pre-product at the time, we had to lean on our experience and our vision to drive conviction and urgency among investors. Unfortunately, it just wasn’t enough. Investors either felt that our experience was a bad fit for the space we were entering (productivity/scheduling) or that our vision wasn’t compelling enough to merit investment on the terms we wanted.

The existential cost of decelerated growth
“Just because a technology startup has a hot start, that doesn’t mean it will grow quickly forever. Most will wind up somewhere in the middle — or worse. Put simply, there is a larger number of tech companies that do fine or a little bit worse after they reach scale.”

 

Again, if you’re reading this on the TechCrunch site, you can get this in your inbox from the newsletter page, and follow my tweets @lucasmtny.

#analyst, #app-store, #bertrand-serlet, #bitcoin, #blockchain, #bryce-durbin, #ceo, #cryptocurrencies, #cryptocurrency, #digital-currencies, #elon-musk, #extra-crunch, #facebook, #india, #jack-dorsey, #king, #matthew-panzarino, #miami, #nigeria, #president, #prosus, #soulja-boy, #spacex, #spotify, #stack-overflow, #steve-jobs, #supreme-court, #svp, #tc, #technology, #tencent, #tesla, #trump, #twitter, #united-states, #vitalik-buterin, #week-in-review

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Tezlab CEO Ben Schippers to discuss the Tesla effect and the next wave of EV startups at TC Sessions: Mobility 2021

As Tesla sales have risen, interest in the company has exploded, prompting investment and interest in the automotive industry, as well as the startup world.

Tezlab, a free app that’s like a Fitbit for a Tesla vehicle, is just one example of the numerous startups that have sprung up in the past few years as electric vehicles have started to make the tiniest of dents in global sales. Now, as Ford, GM, Volvo, Hyundai along with newcomers Rivian, Fisker and others launch electric vehicles into the marketplace, more startups are sure to follow.

Ben Schippers, the co-founder and CEO of Tezlab, is one of two early-stage founders who will join us at TC Sessions: Mobility 2021 to talk about their startups and the opportunities cropping up in this emerging age of EVs. The six-person team behind TezLab was born out of HappyFunCorp, a software engineering shop that builds apps for mobile, web, wearables and Internet of Things devices for clients that include Amazon, Facebook and Twitter, as well as an array of startups.

HFC’s engineers, including Schippers, who also co-founded HFC, were attracted to Tesla  because of its techcentric approach and one important detail: the Tesla API endpoints are accessible to outsiders. The Tesla API is technically private. But it exists allowing the Tesla’s app to communicate with the cars to do things like read battery charge status and lock doors. When reverse-engineered, it’s possible for a third-party app to communicate directly with the API.

Schippers’ experience extends beyond scaling up Tezlab. Schippers consults and works with companies focused on technology and human interaction, with a sub-focus in EV.

The list of speakers at our 2021 event is growing by the day and includes Motional’s president and CEO Karl Iagnemma and Aurora co-founder and CEO Chris Urmson, who will discuss the past, present and future of AVs. On the electric front is Mate Rimac, the founder of Rimac Automobili, who will talk about scaling his startup from a one-man enterprise in a garage to more than 1,000 people and contracts with major automakers.

We also recently announced a panel dedicated to China’s robotaxi industry, featuring three female leaders from Chinese AV startups: AutoX’s COO Jewel Li, Huan Sun, general manager of Momenta Europe with Momenta, and WeRide’s VP of Finance Jennifer Li.

Other guests include, GM’s VP of Global Innovation Pam Fletcher, Scale AI CEO Alexandr Wang, Joby Aviation founder and CEO JoeBen Bevirt, investor and LinkedIn founder Reid Hoffman (whose special purpose acquisition company just merged with Joby), investors Clara Brenner of Urban Innovation Fund, Quin Garcia of Autotech Ventures and Rachel Holt of Construct Capital, and Zoox co-founder and CTO Jesse Levinson.

And we may even have one more surprise — a classic TechCrunch stealth company reveal to close the show.

Don’t wait to book your tickets to TC Sessions: Mobility as prices go up at our virtual door.

#alexandr-wang, #amazon, #api, #articles, #aurora, #automation, #autotech-ventures, #autox, #av, #ben-schippers, #ceo, #china, #chris-urmson, #clara-brenner, #construct-capital, #coo, #facebook, #fitbit, #founder, #happyfuncorp, #hyundai, #jesse-levinson, #jewel-li, #joby, #joby-aviation, #joeben-bevirt, #karl-iagnemma, #linkedin, #major, #mate-rimac, #momenta, #motional, #pam-fletcher, #quin-garcia, #rachel-holt, #reid-hoffman, #rimac-automobili, #rivian, #robotaxi, #robotics, #scale-ai, #science-and-technology, #self-driving-cars, #startup-company, #tc, #technology, #tesla, #tezlab, #urban-innovation-fund, #volvo, #weride, #zoox

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AI cybersecurity provider SentinelOne files for $100M IPO

SentinelOne, a late-stage security startup that helps organizations secure their data using AI and machine learning, has filed for an IPO on the New York Stock Exchange (NYSE).

In an S-1 filing on Thursday, the security company revealed that for the three months ending April 30, its revenues increased by 108% year-on-year to $37.4 million and its customer base grew to 4,700, up from 2,700 a year prior. Despite this pandemic-fueled growth, SentinelOne’s net losses more than doubled from $26.6 million in 2020 to $62.6 million.

“We also expect our operating expenses to increase in the future as we continue to invest for our future growth, including expanding our research and development function to drive further development of our platform, expanding our sales and marketing activities, developing the functionality to expand into adjacent markets, and reaching customers in new geographic locations,” SentinelOne wrote in its filing.

The Mountain View-based company said it intends to list its Class A common stock using the ticker symbol “S” and that details about the price range and number of common shares to be put up for the IPO are yet to be determined. The S-1 filing also identifies Morgan Stanley, Goldman Sachs, Bank of America Securities, Barclays and Wells Fargo Securities as the lead underwriters.

SentinelOne raised $276 million in a funding round in November last year, tripling its $1 billion valuation from February 2020 to $3 billion. At the time, CEO and founder Tomer Weingarten told TechCrunch that an IPO “would be the next logical step” for the company.

SentinelOne, which was founded in 2013 and has raised a total of $696.5 million through eight rounds of funding, is looking to raise up to $100 million in its IPO, and said it’s intending to use the net proceeds to increase its visibility in the cybersecurity marketplace and for product development and other “general corporate processes.”

It added that “may also use a portion of the net proceeds for the acquisition of, or investment in, technologies, solutions, or businesses that complement our business.” The company’s sole acquisition so far took place back in February when it bought high-speed logging startup Scalyr for $155 million.

SentinelOne is going public during a period of heightened public interest in cybersecurity. There has been a wave of high-profile cyberattacks during the COVID-19 pandemic, with hackers taking advantage of widespread remote working necessitated as a result.

One of the biggest attacks saw Russian hackers breach the networks of IT company SolarWinds, enabling them to gain access to government agencies and corporations. SentinelOne’s endpoint protection solution was able to detect and stop the related malicious payload, protecting its customers.

“The world is full of criminals, state actors, and other hostile agents who seek to exfiltrate and exploit data to disrupt our way of life,” Weingarten said in SentinelOne’s SEC filing. “Our mission is to keep the world running by protecting and securing the core pillars of modern infrastructure: data and the systems that store, process, and share information. This is an endless mission as attackers evolve rapidly in their quest to disrupt operations, breach data, turn profit, and inflict damage.”

#artificial-intelligence, #barclays, #ceo, #cloud, #companies, #computing, #goldman-sachs, #initial-public-offering, #machine-learning, #morgan-stanley, #scalyr, #security, #sentinelone, #solarwinds, #system-administration, #u-s-securities-and-exchange-commission

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Fujifilm becomes the latest victim of a network-crippling ransomware attack

Japanese multinational conglomerate Fujifilm has been forced to shut down parts of its global network after falling victim to a suspected ransomware attack.

The company, which is best known for its digital imaging products but also produces high tech medical kit including devices for rapid processing of COVID-19 tests, confirmed that its Tokyo headquarters was hit by a cyberattack on Tuesday evening.

“Fujifilm Corporation is currently carrying out an investigation into possible unauthorized access to its server from outside of the company. As part of this investigation, the network is partially shut down and disconnected from external correspondence,” the company said in a statement posted to its website.

“We want to state what we understand as of now and the measures that the company has taken. In the late evening of June 1, 2021, we became aware of the possibility of a ransomware attack. As a result, we have taken measures to suspend all affected systems in coordination with our various global entities.

“We are currently working to determine the extent and the scale of the issue. We sincerely apologize to our customers and business partners for the inconvenience this has caused.”

As a result of the partial network shutdown, Fujifilm USA added a notice to its website stating that it is currently experiencing problems affecting all forms of communications, including emails and incoming calls. In an earlier statement, Fujifilm confirmed that the cyberattack is also preventing the company from accepting and processing orders. 

Fujifilm has yet to respond to our request for comment.

While Fujifilm is keeping tight-lipped on further details, such as the identity of the ransomware used in the attack, Bleeping Computer reports that the company’s servers have been infected by Qbot. Advanced Intel CEO Vitali Kremez told the publication that the company’s systems were hit by the 13-year-old Trojan, typically initiated by phishing, last month.

The creators of Qbot, also known as QakBot or QuakBot, have a long history of partnering with ransomware operators. It previously worked with the ProLock and Egregor ransomware gangs, but is currently said to be linked with the notorious REvil group.

“Initial forensic analysis suggests that the ransomware attack on Fujifilm started with a Qbot trojan infection last month, which gave hackers a foothold in the company’s systems with which to deliver the secondary ransomware payload,” Ray Walsh, digital privacy expert at ProPrivacy, told TechCrunch. “Most recently, the Qbot trojan has been actively exploited by the REvil hacking collective, and it seems highly plausible that the Russian-based hackers are behind this cyberattack.”

REvil, also known as Sodinokibi, not only encrypts a victim’s files but also exfiltrates data from their network. The hackers typically threaten to publish the victim’s files if their ransom isn’t paid. But a site on the dark web used by REvil to publicize stolen data appeared offline at the time of writing.

Ransomware attacks have been on the rise since the start of the COVID-19 pandemic, so much so that they have become the biggest single money earner for cybercriminals. Threat hunting and cyber intelligence firm Group-IB estimates that the number of ransomware attacks grew by more than 150% in 2020, and that the average ransom demand increased more than twofold to $170,000.

At the time of writing, it’s unclear whether Fujifilm has paid any ransom to the hackers responsible for the attack on its systems.

#articles, #ceo, #computer-security, #crime, #crimes, #cyberattacks, #cybercrime, #cyberwarfare, #dark-web, #digital-imaging, #fujifilm, #hardware, #intel, #ransomware, #security

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Cybersecurity unicorn Exabeam raises $200M to fuel SecOps growth

Exabeam, a late-stage startup that helps organizations detect advanced cybersecurity threats, has landed a new $200 million funding round that values the company at $2.4 billion.

The Series F growth round was led by the Owl Rock division of Blue Owl Capital, with support from existing investors Acrew Capital, Lightspeed Venture Partners and Norwest Venture Partners.

The announcement of Exabeam’s latest funding, which the company says will help it on its mission to become “the number one trusted cloud SeCops platform in the market”, coincides with the news that CEO Nir Polak, who co-founded the company in 2013, will be replaced by former ForeScout chief executive Michael DeCesare.

DeCesare is a big name in the cybersecurity space, with more than 25 years of experience leading high-growth security companies. He joined ForeScout as CEO and president in February 2015 after four years as president of McAfee, which at the time was owned by Intel. Under his leadership, ForeScout raised nearly $117 million in an upsized IPO that valued the IoT security vendor at $800 million.

Polak, meanwhile, will shift to a chairman role at Exabeam and “will continue on as an active member of the executive team and remain at the company,” according to the funding announcement.

“Nir has built an incredibly robust, diverse and inclusive culture at Exabeam, and I am committed to helping it flourish,” said DeCesare. “I’m thrilled to join Nir and the whole leadership team to help drive the company through its next phase of growth.”

Exabeam, which has now raised $390 million in six rounds of outside funding, says it expects to use the new money to fuel scale, innovate and extend the company’s leadership. “It gives us the opportunity to triple down on our R&D efforts and continue engineering the most advanced UEBA, XDR and SIEM cloud security products available today,” commented Polak.

The company adds that it has made significant investments in its partner program over the last 12 months, which now includes more than 400 reseller, distributor, systems integrator, MSSP, MDR and consulting partners globally. Exabeam also has more than 500 technology integrations with cloud network, data lake and endpoint vendors including CrowdStrike, Okta and Snowflake.

It’s clearly expecting these investments to pay off, describing its “outcome-based approach” to external security as perfectly suited to support organizations as they manage exponential amounts of data and return to the post-COVID workplace in a variety of hybrid scenarios. After all, hackers are already beginning to target employees who have started making a return to the office, and this threat is only likely to increase as more companies begin to dial back on remote working and start welcoming staff back into workplaces.

“Exabeam is poised to be the next-gen leader in the cloud security analytics, XDR and SIEM markets,” Pravin Vazirani, Blue Owl Capital’s managing director and co-head of tech investing, said in a statement. “We led this round of funding to provide the company with the resources necessary to support its sustainable, long-term growth and value creation.”

#acrew-capital, #ceo, #chairman, #cloud, #cloud-applications, #companies, #crowdstrike, #exabeam, #executive, #forescout, #funding, #intel, #leader, #lightspeed, #lightspeed-venture-partners, #mcafee, #norwest-venture-partners, #okta, #president, #security, #software

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SoftBank-backed construction giant Katerra said to be shutting down after raising billions

After burning through more than $2 billion in funding, SoftBank-backed construction startup Katerra has told employees that it will be shutting down operations, according to a report in The Information.

Last year, the company claimed it had more than 8,000 employees globally.

Menlo Park-based Katerra had already been struggling to find a viable business in cheaply building apartments properties for real estate developers when it was pushed to the edge of bankruptcy late last year, with the company blaming its latest struggles on climbing labor and material costs associated with the pandemic. The company was given one last chance after receiving a $200 million bailout from SoftBank, which reportedly bought up a majority stake after already having invested billions in the effort.

Katerra’s fall marks the most high-profile failure for SoftBank since the failed 2019 WeWork IPO. The firm has largely been seeing gains among its Vision Fund portfolio in the past year amid a larger tech stock rally, though some of those gains have receded in recent months.

In an interview with Barron’s last month, CEO Masayoshi Son highlighted Katerra as well as SoftBank’s investment in Greensill as “regrets” of his. Katerra’s other backers included Khosla Ventures, DFJ Growth, Greenoaks Capital and Celesta Capital.

TechCrunch has reached out to Katerra for comment.

 

#ceo, #companies, #dfj-growth, #greenoaks-capital, #katerra, #khosla-ventures, #masayoshi-son, #menlo-park, #softbank, #softbank-group, #tc, #vision-fund, #vodafone, #wework

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Max Q: Selling space

Max Q is a weekly newsletter from TechCrunch all about space. Sign up here to receive it weekly on Mondays in your inbox.

This week actually includes two, since I was out last week for a Canadian national holiday (and back today for the U.S. one, ironically). There’s plenty to cover, including Blue Origin’s bidding process, lunar landers, spaceships launching at sea and the return of our very own space event.

Blue Origin’s big bid

Blue Origin is auctioning off one seat on its first ever human spaceflight, and the bidding got started at $1.4 million — or at least, the public bidding started there. Before last week, people had been submitting blind bids, but now Blue Origin is posting the top current bid to its website whenever it hits a new high. It’s currently set at $2.8 million, meaning it’s doubled since the bids opened up to public scrutiny, and presumably FOMO.

Everything’s building up to June 12, when the auction will conclude with a live, real-time online competitive bidding round. Seems likely it’ll at least cross the $3 million mark before all’s said and done, which is good news for Blue Origin, since run-of-the-mill tickets for the few minutes in suborbital space going forward will probably end up more in the hundreds of thousands of dollars range.

The winning bidder will be flying on July 20, if all goes to the current plan, and will be accompanied by other passengers selected by Blue Origin through some other mechanism. We don’t yet know who else will be on the ride. Bezos maybe?

SpaceX’s Deimos spaceport is under construction

ENSCO offshore oil rig like the one SpaceX is converting

ENSCO offshore oil rig like the one SpaceX is converting.

SpaceX is really flexing its sci-fi-made-real muscle with its latest move: The company is turning two offshore oil rig platforms into floating spaceports, and one of the two, codenamed ‘Deimos’ after one of Mars’ moons, is already being worked on. SpaceX CEO Elon Musk shared that the company is hoping to have it ready for operations next year, meaning it could host actual launches in 2022.

Eventually, Deimos and its twin, Phobos, will provide launch and landing services to SpaceX’s first fully reusable launch vehicle — Starship. Starship only just managed to land successfully after a high, but still very much atmospheric flight test, however, so it has a way to go before it’s making amphibious departures and arrivals using the converted oil platforms.

Putting these in the ocean presumably helps solve some key issues, not least of which is being mindful of the impact of launching absolutely massive rockets on land anywhere near people. Ditto the landings, which at least early on, are bound to be risky affairs better carried out with a buffer of surrounding ocean.

Landers; lunar ones

Lander Rover

Concept graphic depicting ispace’s HAKUTO-R lander and rover.

There’s quite a bit of lunar lander news this week, including Japan’s ispace revealing that it’ll provide commercial lunar lander service to both Canada and Japan, with a ride for both provided by SpaceX and its Falcon 9 rocket. These will be two separate missions, with the first one set for next year, and the second one set to take place in 2023.

Both will use ispace’s Hakuto-R lander, which it originally developed to take part in the Google-backed Lunar XPRIZE competition. That ended without a winner, but some companies, including ispace, continued to work on their landers with an eye to commercialization. The Hakuto-R being sent on behalf of JAXA will carry an adorable ball-shaped Moon robot which looks like a very novel take on a rover.

Meanwhile, GM announced this past week that it’s working with space industry veteran Lockheed Martin to develop a next-gen Moon rover that will provide future lunar astronauts with more speed and greater range. GM and Lockheed will still have to win a NASA contract in order to actually make the thing, but they’re clearly excited about the prospect.

TC Sessions: Space is back in December

Last year we held our first dedicated space event, and it went so well that we decided to host it again in 2021. This year, it’s happening December 14 and 15, and it’s once again going to be an entirely virtual conference, so people from all over the world will be able to join.

We had an amazing line-up of guests and speakers at last year’s event, including Rocket Lab’s Peter Beck, NASA’s Kathy Lueders and more, and we’re already working on a fantastic follow-up agenda that’s sure to thrill all kinds of space fans.

You can already get tickets, and if you get in early, you save $100.

#bezos, #blue-origin, #canada, #ceo, #elon-musk, #falcon, #google, #google-lunar-x-prize, #ispace, #japan, #kathy-lueders, #lockheed-martin, #max-q, #outer-space, #peter-beck, #private-spaceflight, #rocket-lab, #space, #space-tourism, #spacecraft, #spaceflight, #spacex, #spacex-starship, #tc, #techcrunch, #united-states

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