The Bulletin
1D
Coveo buys personalisation AI firm Qubit
Coveo, the company which uses artificial intelligence to improve digital experiences, has acquired personalisation specialist Qubit. The pair will team up to deliver new digital tools for retailers. "Our two businesses complement each other perfectly across both technology and expertise," said Qubit's CEO. Coveo has been looking to expand into the UK and European markets.
1D
Elastic to acquire profiling startup Optimyze
Data observability platform Elastic has agreed to buy profiling startup Optimyze Inc. Elastic intends to integrate the Optimyze and Cmd innovations as well as the Open Policy Agent capabilities from build security into the Elastic Agent. The acquisition is expected to close during Elastic’s fiscal second quarter, subject to customary closing conditions. Financial terms have not been disclosed.
1D
Facebook develops 'egocentric' AI
Facebook has revealed Ego4D, an AI research project aimed to improve virtual and augmented reality (AR) tech. The project focuses on AI's ability to understand first-hand human experiences. Most AIs interact from a third-person perspective. Ego4D is a dataset of 2,792 hours of first-person video, along with benchmark tests for neutral networks. Facebook will soon release its first AR glasses.
1D
Microsoft shuts down Chinese version of LinkedIn
Microsoft’s LinkedIn said it would shut the version of its site that operates in China. The decision was taken due to the difficulty of complying with China's regulations. Linkedin was the last major American social-media network operating openly in the country. The company will launch a jobs-only version of the site without a social feed or the ability to post articles, later this year.
2D
Evan Sharp leaves Pinterest to join Jony Ive's LoveFrom
Pinterest co-founder Evan Sharp is joining Jony Ive's new design venture. Sharp will remain on Pinterest's board until 2024 but has decided to join up with ex-Apple design chief Ive at LoveFrom. He founded Pinterest in 2010 alongside Ben Silbermann and Paul Sciarra, and oversaw product strategy and user experience. "I’m thankful for his partnership, leadership and friendship," said Silbermann.
2D
MLOps platform Weights & Biases completes $135m funding round
MLOps platform Weights & Biases has completed a Series C funding round worth $135m, taking its valuation to more than $1bn. Its platform is used by the likes of NVIDIA, Facebook Research, Graphcore and Pandora to commercialise machine learning. "Our ultimate goal is to make machine learning work in the real world with a platform that ML engineers love," said Lukas Biewald, co-founder.
2D
BT launches security platform Eagle-i
BT has launched Eagle-i, a new AI-powered cybersecurity platform. The UK telecoms giant has taken strides in recent month to boost its security offering, investing in Safe Security and partnering with a number of specialist providers. This latest step will deliver a "proactive approach" to security for customers. Eagle-i will leverage advanced AI and automation in multi-cloud environments.
2D
Hyundai Motor to develop its own chips
Hyundai Motor wants to develop its own chips to reduce reliance on chipmakers, its COO José Muñoz has revealed. He added that the company had its "toughest months" during the summer, when it was forced to temporarily close some factories due to the global chip shortage. "The industry is reacting very, very fast," Munoz said. "But also in our case, we want to be able to develop our own chips."
3D
US becomes largest Bitcoin mining centre after China ban
The US has overtaken China as the number one destination for Bitcoin miners in the world, according to new data from Cambridge University. As of July, 35.4% of Bitcoin’s hashrate is in the US, a 428% increase from September 2020. The increase is a consequence of China's banning of crypto transactions, which saw the country plummet from a dominant 38% of global market share to zero.
3D
Recruiting startup Karat reaches unicorn status after raising $110m
Karat a startup that helps companies recruit software engineers faster has reached a $1.1bn valuation after raising a $110m funding round led by Tiger Global. Karat has built what it calls the “Interviewing Cloud”, an “interviewing as a service” platform that helps screen applicants for skills and problem-solving abilities. Karat has the capacity to conduct 50,000 interview hours per month.
3D
IBM to skill 30 million people by 2030
IBM has announced plans to provide 30 million people with new tech skills by 2030. To achieve this goal, IBM is announcing a clear roadmap with more than 170 new academic and industry partnerships. "Talent is everywhere; training opportunities are not," said Arvind Krishna, IBM Chairman and CEO. According to the WEF, closing the global skills gap could add $11.5trn to global GDP by 2028.
4D
Hailo raises $136m to fuel AI chip production
Israeli AI chip startup Hailo has secured $136m in private financing. The company specialises in AI modules for edge devices. In the last quarter, Hailo says it has doubled the number of projects it is working on. This extra cash - which came from Poalim Equity and Gil Agmon - will help it scale its operation. It plans to expand into new markets and invest in product development.
4D
EU to extent probe into Nvidia's $5bn Arm acquisition after remedies fall short
Nvidia's $54bn bid acquisition of British chip designer Arm is expected to face an extended EU antitrust investigation after concessions offered last week failed to address competition concerns, Reuters reports. The investigation would shortly follow statements from Britain's antitrust agency that warned that the deal could damage competition and weaken rivals.
4D
Forcepoint to buy security startup Bitglass
Data security company Forcepoint has signed a deal to acquire cloud security startup Bitglass. Bitglass delivers a cloud-native security service edge platform for securing access to and usage of information as organisations transform to cloud. Forcepoint said it accelerate its efforts to make advanced data security and threat protection technologies easier for organisations to deploy and use.
4D
Oracle to open 14 new cloud regions
Oracle has announced plans to significantly increase its cloud footprint. Over the next year, Oracle will open 14 cloud regions with new locations across Europe, the Middle East, Asia Pacific, and Latin America. Upcoming cloud regions include Milan (Italy), Stockholm (Sweden), Marseille (France), Spain, Singapore (Singapore), Johannesburg (South Africa), Jerusalem (Israel), Mexico, and Colombia.
4D
HR tech startup Personio raises $270m
Personio, an HR platform targeted at small businesses, has raised $270m in new funding. The investment round values Personio at $6.3bn. Take-up of the company's software has soared this year; in January it had 3,000 customers, and it now has more than 5,000. Personio helps organisations streamline HR processes and eliminate paperwork. With this new cash, it will expand into workflow automation.
5D
Reddit appoints Pali Bhat as first Chief Product Officer
Reddit has announced the appointment of former Google Cloud executive Pali Bhat as its first Chief Product Officer. Bhat was most recently Vice President of Product and Design at Google Cloud and will report directly to Reddit CEO Steve Huffman, according to a release. Before working for Google Cloud, Bhat held senior positions at SAP Labs and McKinsey & Co.
5D
Wiz raises $250m
Israeli security startup Wiz has completed another round of private financing. Earlier this year it raised $350m, and now it has secured an additional $250m. This latest investment values Wiz at $6bn and came from the same investors as before, including Sequoia Capital, Index Ventures, Insight Partners, Greenoaks and Salesforce. Wiz's products are used by 15% of Fortune 500 companies.
5D
Emerson to merge industrial software tech businesses with AspenTech
Emerson has struck a deal to merge its two industrial software businesses with AspenTech, a smaller rival in the space. It hopes the move will give it leadership in the industrial software market. "New AspenTech" will have greater scale, capabilities and technologies. Emerson has contributed $6bn in exchange for a majority share in the new company. In total the transaction is worth $11bn.
5D
STG completes $1.2bn acquisition of FireEye
McAfee Enterprise and FireEye have announced Symphony Technology Group has closed its sponsored $1.2bn acquisition of intelligence-led security company FireEye. The transaction completes the combination of McAfee Enterprise with FireEye. Bringing the two companies together creates a cybersecurity company with more than 40,000 customers, 5,000 employees, and nearly $2bn in revenue.
5D
Service intelligence platform Aquant raises $70m
Service intelligence platform Aquant has raised $70m in funding. The investment will support the growth and advance its service intelligence technology. The funding round was led by Qumra Capital, Insight Partners and Pitango Growth. Previous investors Lightspeed Venture Partners and Angular Ventures also participated in the round, along with new investors Schneider Electric Ventures and Claltech.
8D
Data analytics firm NeuroBlade raises $83m
NeuroBlade has completed a Series B funding round worth $83m. The data firm focuses on helping customers with "data acceleration". It has innovated a processing-in-memory solution which helps organisations clear data bottlenecks. The Series B included a contribution from Intel. NeuroBlade was founded in 2018 but has since raised $110m in total. With this cash, it will expand sales and marketing.
8D
BrewDog exposes data of 200,000 shareholders and customers - reports
Scottish pub chain and brewery BrewDog has "irreversibly exposed" the details of 200,000 of its shareholders and customers, according to Bleeping Computer. The leak has been centred on the company's mobile app with an issue with its API exposing data such as customer names, email addresses and shareholder numbers. Reports state that the issue has existed since March 2020.
8D
Observability programme Chronosphere raises $200m
Cloud-based observability platform Chronosphere has raised $200m in Series C funding, bringing the total raised to $255m. This round was led by previous investor General Atlantic. Other previous investors Addition, Greylock and Lux Capital and new investor Founders Fund also participated. It puts Chronosphere in the top 10 fastest B2B SaaS companies to disclose unicorn status, as per Pitchbook.
8D
Microsoft buys productivity software firm Ally.io
Microsoft has acquired Ally.io, a company that builds software to make teams more productive. Specifically Ally.io helps organisations deliver against OKRs (objectives and key results). It will join Microsoft's Viva employee experience platform. "The OKR category is a fast-growing and emerging space," wrote a Microsoft spokesperson is a blog. Ally.io has raised $76m in venture capital.
9D
Solo.io passes $1bn valuation after bumper Series C
Solo.io, which helps businesses integrate their software containers and microservices, has raised $135m from its Series C. The investment, led by Altimeter Capital, means Solo.io has now passed the $1bn valuation mark. This represents a 10x increase in valuation since October last year. "We are a proven choice for enterprises looking to modernise their application network," said Solo.io's CEO.
9D
Gelsinger rules out Intel UK chip factory, blames Brexit
Intel CEO Pat Gelsinger has ruled out building a semiconductor factory in the UK. Speaking to the BBC, Gelsinger said the UK "would have been a site we would have considered" before its exit from the trading bloc. "Post-Brexit... we're looking at EU countries and getting support from the EU", he added. Intel is planning on investing around $95bn to boost its capacity over the next decade.
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9D
Citrix names Bob Calderoni as interim CEO and President
Citrix has named Bob Calderoni as interim CEO and President. Calderoni succeeds David J. Henshall, who has stepped down as President and CEO and as a member of the board. “David played a key role in accelerating our cloud transition and has driven significant improvements in our products, with over a dozen SaaS services actively supporting more than 11 million subscribers," said Calderoni.
9D
Twitter to sell mobile ad unit MoPub to AppLovin for $1bn
Twitter has agreed to sell mobile ad company MoPub to AppLovin Corp for $1.05bn in cash. MoPub, which generated about $188m in annual revenue last year, allows companies to keep track of ad inventory in real-time. "The sale of MoPub positions us to concentrate more of our efforts on the massive potential for ads on our website and in our apps," Twitter Chief Financial Officer Ned Segal said.
9D
Massive hack reveals Twitch source code and streamer's earnings
Game-streaming platform Twitch has suffered a huge data breach. Over 100GB of data was posted online. It included confidential company information such as the company's source code and streamers' earnings. The poster claims the leak is designed to “foster more disruption and competition in the online video streaming space.” Twitch has confirmed that the information is real.
9D
Insurtech Getsafe adds $63m to Series B
Getsafe has boosted its Series B funding round by adding $63m. The German insurtech targets millennial buyers in its home country and the UK. It currently has 250,000 customers, selling products directly through its website and app. Swiss Re was among the companies who contributed to the extended round, which took the Series B up to $93m. Getsafe's aim is to offer "holistic insurance coverage".
10D
Databricks acquires 8080 Labs to extend its low-code/no-code tools
Databricks first acquisition has been the purchase of German startup 8080 Labs, the company behind bamboolib, a popular GUI for the Python-based Pandas data analysis and manipulation tool. The move shows that the renowned big-data analytics company is betting on the ability of low-code software to inspire more citizen data scientists. The financial terms of the deal have not been disclosed.
10D
Nvidia makes EU concessions over Arm deal
Nvidia has made some concessions to the European Commission (EC) as it tries to push its acquisition of Arm past regulators. The $54bn buyout was announced last year but has attracted concerns over competition. A filing on Wednesday showed that some concessions have been made, although details were not revealed. The EC is to consult with Nvidia rivals and customers before making a final decision.
10D
Adaptive Shield raises $30m for its SaaS security platform
SaaS security startup Adaptive Shield has raised $30m from its Series A funding round. The company's platform helps organisations secure and manage their cloud services in a continuous, automated way. The Series A was led by Insight Partners with participation also from Okta Ventures. Adaptive Shield will spend the cash on "product innovation and global expansion". It has raised $34m to date.
11D
Cloud software firm NetApp acquires CloudCheckr
NetApp has penned a deal to acquire CloudCheckr. CloudCheckr's software gives businesses insights into how they can optimise their cloud workloads. NetApp will fold CloudCheckr into its own cloud optimisation systems, software and services. "This is a critical step forward in our FinOps strategy," said a NetApp spokesperson. The financial terms of the acquisition were not disclosed.
11D
Tech giants set to convene at White House for quantum conference
Amazon and Google are among the tech companies that will be represented at the White House for a conference on the future of quantum computing. The Office of Science and Technology Policy will discuss "critical applications" of quantum computing, with a focus on national security implications. IBM and Intel will also be in attendance, along with Boeing, Honeywell and Northrop Grumman.
12D
'DevOps for devices' startup Esper lands $60m
Esper has raised $60m in a Series C round to support its platform for managing IoT devices. The tech meets companies' challenge of maintaining and operating thousands of devices. Esper calls its system "DevOps for devices". The finance round was led by Insight Partners and brings Esper's total money raised close to $100m. "We’re going to evangelise DevOps thinking at the edge," it wrote in a blog.
12D
Qualcomm, SSW Partners pay $4.5bn for driving tech firm Veoneer
Veoneer has been sold to Qualcomm and SSW Partners for $4.5bn. The two companies usurped Magma, which bid $3.8bn for Veoneer in July. The automotive technology firm first engaged with Qualcomm earlier this year to develop a software and chip platform for driver-assistance systems. SSW Partners is a New York-based investment partnership. Qualcomm and SSW have paid $37 per share in cash.
12D
GitLab targets $9bn valuation from upcoming IPO
GitLab has set out the terms of its upcoming IPO as it looks to raise as much as $624m. The coding platform, used by Nvidia, Siemens and others, plans to sell more than ten million shares. Post-IPO the company could be worth $9bn. GitLab's tools increase efficiency in software development teams by encouraging collaboration. Goldman Sachs, JP Morgan and BofA Securities are its lead underwriters.
12D
One Identity acquires OneLogin and boost identity security
One Identity has bought identity access management specialist OneLogin. The acquisition will boost One Identity's unified identity security offering. It will also "enable customers to take a holistic approach to identity security". Together the companies will manage 290m identities for 10,000 customers. Terms of the deal were not disclosed but the acquisition officially closed on October 1st.
12D
Grab acquires majority stake in Indonesia's OVO
Southeast Asian ride-hailing and payments firm Grab is boosting its ownership of Indonesian e-wallet OVO to 90%, pending approval from regulators. Grab has purchased the stakes of Indonesian conglomerate Lippo and e-commerce platform Tokopedia. OVO was valued at $2.9bn in 2019 and it has been downloaded over 100m times. Indonesia's digital payments market is expected to grow to $124bn by 2025.
15D
Zoom $14.7bn deal for Five9 is off
Zoom's blockbuster deal to buy cloud contact centre software provider Five9 is off. The $14.7bn agreement - which would have been by far the most expensive acquisition in Zoom's history - has been rejected by Five9's shareholders. The two companies have said they will continue to work together. Reports suggest that an almost 30% fall in Zoom's stock price is behind the decision.
15D
Snyk announces further $75m of funding, value jumps $8.6bn
Developer security company Snyk has announced $75m of funding from Atlassian Ventures and Salesforce Ventures as part of its recent Series F financing. It pushes This the company’s valuation to $8.6bn, and total capital raised to $850m with over 10% of these total funds directly coming from Atlassian Ventures and Salesforce Ventures. Snyk announced a $530m funding round earlier this month.
15D
Materialize lands $60m from Series C
Materialize has raised $60m from a Series C funding round. The company has built a streaming SQL database platform which is used across industries by companies looking to tap real-time analytics. Its latest funding round, hot off the heels of a $32m Series B last year, was led by Redpoint Ventures. "We have an ambitious roadmap ahead of us," the company wrote in a blog.
15D
Orange buys back shares in its online bank
Orange has bought Groupama's 21.7% stake in its Orange online bank. The bank has become one of the most popular neobanks in France after launching four years ago. It has 1.6 million customers in France and Spain. Reuters reported earlier this year that Orange was looking for a new investor for its bank. "We are now speeding up our industrial and geographic development strategy," said a spokesman.
16D
BGV launches $110m fund for enterprise AI and cross-border investments
Benhamou Global Ventures has announced its fourth fund worth $110m. The fund will be focused on AI-first B2B startups. BGV has historically focused on companies from outside of Silicon Valley. 60% of its portfolio companies were founded across France, Israel, India and other parts of Western Europe. "What matters is that your idea and your company are innovative," said BGV's founder.
16D
Identity platform Alloy raises $100m, value jumps to $1.35bn
Alloy, the identity decisioning platform for banks and fintechs, has announced it has raised $100m in Series C funding. Lightspeed Venture Partners’ Justin Overdorff led the round with participation from existing investors Canapi Ventures, Bessemer Venture Partners, Avid Ventures and Felicis Ventures. It brings the company's funding to-date to $150m and its value to $1.35bn.
16D
Big data processing chip company Speedata raises $55m
Speedata, a startup developing a computer processor for data analytics workloads, has exited stealth mode after raising $55m, bringing its total amount raised to $70m. The round was led by Walden Catalyst Ventures, 83North and Koch Disruptive Technologies. Speedata claims to have “the world’s first dedicated processor for optimizing cloud-based database and analytic workloads.”
16D
Facebook-backed 2Africa to become the world's longest subsea cable
The Facebook-backed 2Africa subsea cable project will become the longest subsea cable system ever deployed. The cable will have a length of 45,000 kilometres, including the recent 8,000 kilometres expansion, which will connect Africa, Europe and Asia. . In addition to the social media giant, 2Africac is backed by a consortium of telcos. The cable will serve three billion people in 33 countries.
16D
Sinch to buy email delivery platform Pathwire for $1.9bn
API-based communications platform Sinch has announced a deal to acquire cloud-based email provider Pathwire. The company's portfolio includes its Mailgun, Mailjet and Email on Acid products for developers and marketers. Sinch will pay the sellers a cash consideration of $925m and 51 million new shares in Sinch. It means that the total value of the deal will be $1.9bn.