Innovation

insightsoftware Hits 5-Year Growth Rate Of 425%

By Amit Chowdhry ● Feb 19, 2024

insightsoftware - one of the most comprehensive provider of solutions for the Office of the CFO - announced it achieved a 5-year growth rate of 425 percent. In the last year, it brought several new critical solutions to market to eliminate manual tasks, address skilled labor shortages, and boost productivity for organizations.

Kong Open Sourcing New AI Gateway For Developers To Build Multi-LLM Apps

By Amit Chowdhry ● Feb 19, 2024

Kong - a leading developer of cloud API technologies - announced a suite of open-source AI plugins for Kong Gateway 3.6 that can turn any Kong Gateway deployment into an AI Gateway, offering support for multi-Language Learning Models (LLMs) integration.

Report: Capital One Looking To Acquire Discover Financial Services

By Amit Chowdhry ● Feb 19, 2024

Capital One Financial is looking into the acquisition of Discover Financial Services, according to The Wall Street Journal. A deal could be announced as early as tomorrow, and it would likely be an all-stock transaction.

Why Clarience Technologies Is Buying Safe Fleet

By Amit Chowdhry ● Feb 19, 2024

Clarience Technologies (a global provider of visibility and safety technology solutions for transportation) announced that it has acquired Safe Fleet, a leader in safety solutions for fleet vehicles, reinforcing the company’s goal to bring total visibility to transportation by providing technologies that enhance safety, security, and productivity for customers across the industry.

Magic AI: $117 Million Raised To Develop Advanced AI System For Automating Software Development

By Amit Chowdhry ● Feb 19, 2024

Magic AI - a San Francisco-based startup - announced it raised $117 million in Series B funding for further developing its advanced AI system aimed at automating software development. The funding round was led by Nat Friedman and Daniel Gross’s NFDG Ventures, with additional participation from CapitalG and Elad Gil. This funding round brought Magic’s total funding to date to over $145 million.

Aegir Insights: Decision-Making Software Provider Raises €8.5 Million

By Amit Chowdhry ● Feb 19, 2024

Aegir Insights - a leading provider of decision-making software, data, and intelligence for the offshore wind sector - announced it had raised €8.5 million in Series A funding, led by Seaya Andromeda, with the participation of Climentum Capital. The company will use the funding to develop the next generation of its web platform, encompassing decision software, data, and intelligence products for the offshore wind industry.

Pulsate: Personalized Member Engagement Company Raises $7.75 Million

By Amit Chowdhry ● Feb 19, 2024

Pulsate - a provider of mobile-first engagement solutions that deepen digital banking relationships and cut through noise in consumers’ moments of need - announced it has raised $7.75 million in Series A funding, led by TruStage Ventures and Curql Collective.

GlobalFoundries Raises $1.5 Billion From U.S. Department Of Commerce

By Amit Chowdhry ● Feb 19, 2024

The U.S. Department of Commerce announced $1.5 billion in planned direct funding for GlobalFoundries as part of the U.S. CHIPS and Science Act. This funding will enable GF to expand and create new manufacturing capacity and capabilities to securely produce more essential chips for automotive, IoT, aerospace, defense, and other vital markets.

The Cloud Secures $12 Million And Acquires KBOX

By Amit Chowdhry ● Feb 19, 2024

The Cloud (a Hub71 food tech startup) announced the successful first close of its $12 million Series B funding round out of a total of $30 million it is raising. The funding round saw participation from a new investor, MENA Moonshots, which showcases confidence in The Cloud's ambitions to innovate and expand.

Why Grocery Outlet Is Buying United Grocery Outlet

By Amit Chowdhry ● Feb 19, 2024

Grocery Outlet has agreed to acquire United Grocery Outlet (UGO) - an extreme value and discount grocery retailer operating throughout the Southeastern United States - from affiliates of Gen Cap America and current and former UGO management. With 40 stores and a distribution center, the acquisition of UGO will expand Grocery Outlet's presence into Tennessee, North Carolina, Georgia, Alabama, Kentucky, and Virginia.

LeoLabs: $29 MIllion Raised For Delivering AI-Based Insights For Space Operations

By Amit Chowdhry ● Feb 19, 2024

LeoLabs - the company with the largest and most comprehensive commercial catalog of objects in low Earth orbit - announced it raised an additional $29 million in financing. This latest funding round enables LeoLabs to scale up its insight delivery by further investing in advanced end-user applications and partner integrations.

Google Launches AI Cyber Defense Initiative To Transform Cybersecurity

By Amit Chowdhry ● Feb 19, 2024

Google has announced a new service offering AI tools for providing online security. Google’s new open-source resources - which is called the AI Cyber Defense Initiative - the company is continuing an investment in an AI-ready infrastructure.

Yuga Labs Acquiring PROOF: Details

By Amit Chowdhry ● Feb 19, 2024

Yuga Labs (a leading web3 lifestyle and media company and creators of the Bored Ape Yacht Club, Otherside, TwelveFold, and owners of Meebits, CryptoPunks, and 10KTF) announced it has acquired PROOF, which includes the PROOF Collective, Moonbirds, Oddities, Mythics, and Grails exhibition series.

Why ABB Is Buying SEAM Group

By Amit Chowdhry ● Feb 19, 2024

ABB has agreed to acquire SEAM Group, a major provider of energized asset management and advisory services to clients across industrial and commercial building markets.

HireRight To Be Acquired By General Atlantic And Stone Point Capital: Details

By Amit Chowdhry ● Feb 19, 2024

HireRight Holdings Corporation (a leading provider of global background screening services and workforce solutions) announced that it has entered into a definitive agreement to be acquired by investment funds affiliated with General Atlantic and Stone Point Capital.

David Eisenhauer And Team Launching Greykasell Wealth Strategies

By Amit Chowdhry ● Feb 19, 2024

David Eisenhauer, CFP, CPA, CLU, and his team announced the launch of Greykasell Wealth Strategies, an independent registered investment advisor (RIA) with the SEC serving the intricate financial needs of high-net-worth individuals, families, and business owners.

Global Millennial Capital: $20 Million Raised To Fund Early Stage Ventures

By Amit Chowdhry ● Feb 19, 2024

Global Millennial Capital (GMCL) - an award-winning venture capital fund that uses a data-driven research approach to identify investment white spaces in the global technology sector and reduce investment bias - announced the closing of its first $20 million fund as part of an oversubscribed private subscription round.

Prospera Financial Brings In Painter, Smith & Amberg To Its Network

By Amit Chowdhry ● Feb 19, 2024

Prospera Financial Services (a boutique wealth management firm supporting a nationwide network of independent advisors) announced that advisors Charles Painter, David Smith, Jeffrey Amberg, and Kallie Rawson of Painter, Smith & Amberg have joined its network. Based in Redlands, California, the firm holds $650 million in assets under management (AUM).

Merit Medicine: $2 Million Raised To Help Self-Funded Employers Anticipate Medical Spend

By Amit Chowdhry ● Feb 18, 2024

Merit Medicine seeks to bring AI insights to the often-opaque employer-sponsored health insurance market. Employers who self-fund their employees’ health plans face escalating healthcare costs. And with the expansion of high-cost medical spending and the rapid introduction of more targeted and expensive specialty drugs, the unpredictable nature of these expenses can decimate budgets and ultimately lead to fewer people getting the care they need.

Point2 Technology: Low-Latency Mixed-Signal SoC Solutions Company Raises $23 Million

By Amit Chowdhry ● Feb 18, 2024

Point2 Technology - a leading provider of ultra-low-power, low-latency mixed-signal SoC solutions for multi-terabit interconnect - announced a $22.6 million Series B extension from Bosch Ventures and Molex (a global electronics leader and connectivity innovator), with participation from other investors. This Series B extension validates the demand for Point2's technology in AI/ML data center applications and the potential to disrupt network interconnect in the broad automotive sector.

Freenome: $254 Million Raised To Develop Blood Tests For Early Cancer Detection

By Amit Chowdhry ● Feb 18, 2024

Freenome - a biotechnology company developing blood tests for early cancer detection - announced the addition of $254 million from new and existing investors. This funding round enables Freenome to advance the pipeline of single-cancer and tailored multi-cancer early detection tests built on its multiomics platform.

Firefly Bio Launches With $94 Million To Treat Cancer With Degrader Antibody Conjugates

By Amit Chowdhry ● Feb 18, 2024

Firefly Bio announced it emerged from stealth mode with a $94 million Series A financing co-led by founding investor Versant Ventures and by MPM BioImpact along with Decheng Capital and with participation from Eli Lilly & Company. Firefly has developed a novel platform to treat cancer using degrader antibody conjugates (DACs).

Lambda: GPU Cloud Company Raises $320 Million At Over $1.5 Billion Valuation

By Amit Chowdhry ● Feb 18, 2024

Lambda - a GPU cloud company founded by AI engineers and powered by NVIDIA GPUs - announced it has raised a $320 million Series C led by Thomas Tull’s US Innovative Technology with participation from new investors B Capital, SK Telecom, funds and accounts advised by T. Rowe Price Associates and existing investors Crescent Cove, Mercato Partners, 1517 Fund, Bloomberg Beta, and Gradient Ventures, and others. The company will use this new funding round to expand its AI cloud business, including Lambda’s popular on-demand and reserved cloud offerings.

Vessi Medical: Urology Medical Device Company Secures $16.5 Million

By Amit Chowdhry ● Feb 18, 2024

Vessi Medical announced that it has closed a Series A financing round of $16.5 million for its cryotherapy technology to treat Non Muscle Invasive Bladder Cancer (NMIBC). The leading investors in the round are an undisclosed global strategic investor, ALIVE- Israel HealthTech Fund, and Agriline, a trust of which UK investor Vincent Tchenguiz is a discretionary beneficiary, joining The Trendlines Group.

Knock: Notification Infrastructure Company Raises $12 Million

By Amit Chowdhry ● Feb 18, 2024

Knock - a leading notification infrastructure provider - announced it has raised a $12 million Series A led by Craft Ventures, bringing the total funding to $18 million. And existing investors Afore Capital and Preface Capital also joined the round. Over 200 enterprises, including Webflow, Vercel, Vidyard, and Amplitude, depend on Knock to build multi-channel product experiences that drive engagement and retention. And as part of the funding round, David Sacks, co-founder and partner at Craft Ventures, will also join Knock’s Board.

Why Accenture Is Buying Insight Sourcing

By Amit Chowdhry ● Feb 18, 2024

Accenture announced it has agreed to acquire Insight Sourcing, a strategic sourcing and procurement services provider. Insight Sourcing will broaden Accenture’s sourcing and procurement services for private equity companies and the consumer goods, retail, technology, and industrial industries.

FreezeM: $14.2 Million Raised For Accelerating Insect Protein Platform

By Amit Chowdhry ● Feb 18, 2024

FreezeM - an Agri-tech pioneering biotechnology company that offers Breeding-as-a-Service (BaaS) for Black Soldier Fly (BSF) protein factories - announced the closing of $14.2 million in Series A funding.

Permit.io: Full-Stack Authorization-As-A-Service Provider Secures $8 Million

By Amit Chowdhry ● Feb 18, 2024

Permit.io - a full-stack authorization-as-a-service provider - announced it has raised $8 million in Series A funding, led by Scale Venture Partners, along with NFX, Verissimo Ventures, Roosh Ventures, Firestreak, 92712, and other existing investors.

Why ResultsCX Is Buying Huntswood

By Amit Chowdhry ● Feb 18, 2024

ResultsCX - a leading provider of transformational CXM (Customer Experience Management) services to global brands, including Fortune 100 and 500 firms - announced that it has acquired Huntswood, a UK-based consulting and customer solutions company. With this acquisition, ResultsCX expands its service capabilities in the BFSI (Banking, Financial Services, and Insurance) sector and strengthens connections with leading energy and water companies in Utilities.

Clarity: AI Cybersecurity Company Closes $16 Million In Funding

By Amit Chowdhry ● Feb 18, 2024

Clarity - a company that enables organizations to rapidly identify and immunize from Deepfakes and synthetic media created by generative AI - announced a partnership with Walden Catalyst and Bessemer Ventures Partners. This additional funding will enable the company to double down on core research efforts, while providing best-in-class solutions to the most critical infrastructure in society.