Saturday, August 17, 2019
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Blend Secures $130 Million in Series E Funding

Digital lending technology company Blend raised $130 million in a Series E funding round led by Temasek and General Atlantic. Existing investors 8VC, Founders Fund, Greylock Partners, and Lightspeed Venture Partners also participated in the round, which brings the company’s total funding to $310 million.

According to the company, it processes $2 billion in loans daily in partnership with 150 lender customers. The company also announced product expansions into deposit account opening, home equity, and homeowners insurance, along with additions to its executive team, including former Fannie Mae CEO Tim Mayopoulos.

Blend intends to use the funds to continue growing its team of 400 employees, invest in new technologies, grow its ecosystem of partners, and further its expansion.

Email Security Platform GreatHorn Raises $13 Million

GreatHorn, a provider of an email security platform designed to protect organizations before, during, and after an email attack, closed a $13 million funding round co-led by RRE Ventures and .406 Ventures, with participation from existing investors Techstars Ventures, V1.VC, and Uncork Capital

Unlike legacy tools that rely on reactive threat detection methods and binary, perimeter-based analysis, GreatHorn’s 100 percent cloud-native platform is designed to use integrated threat detection, protection, defense, and incident response to secure enterprises from email threats from inline pre-inbox analysis to delivery, and post-delivery during incident response and continuous analysis.

TrueFort Gains $13.7 Million to Provide Data Breach Protection

Application behavior security analytics company TrueFort raised $13.7 million in a Series A funding round led by Evolution Equity Partners, with the participation of Lytical Ventures and Emerald Development Managers. As part of the financing round, Karthik Subramanian, partner at Evolution Equity Partners, will join the company’s board of directors. 

Using advanced analytics and machine learning,TrueFort strives to prevent insider and advanced threats against financial services and other computer-intensive industries by monitoring over 100 end-to-end interdependencies. According to the company, it has partnered and integrated with security and infrastructure product vendors to make adoption easier, while extending the value of existing technology investments regardless of whether applications are based in an on-premises data center or the cloud. 

The company plans to use the funds to expand sales, marketing, R&D, customer support, and go-to-market activities.

Privitar Acquires $40 Million in Series B Funding

Data privacy software company Privitar closed a $40 million Series B funding round led by global venture capital firm Accel, with participation from existing investors Partech, Salesforce Ventures, 24Haymarket, and IQ Capital. Seth Pierrepont, a partner at Accel, will also join Privitar’s board of directors.

According to the company, following events like the Equifax breach and the Cambridge Analytica scandal, consumers around the world are concerned with how enterprises are handling their personal data. Additionally, regulation and consumer rights around data protection are growing, with the introduction of General Data Protection Regulation in Europe and California Consumer Privacy Act in the United States. To this end, Privitar plans to use the investment to strengthen the company’s position in the global data privacy market.

Komodo Health Appoints Bill Evans as CMO

Healthcare AI company Komodo Health announced the appointment of Bill Evans as chief marketing officer. 

Most recently, Evans served as chief marketing and digital officer of Point of Care Network, where he led the creation and activation of brand and product positioning to pharmaceutical companies. Prior to that, he served as chief marketing officer of IBM Watson Health, where he was responsible for leading the creation of its global brand identity and building the marketing and communications team. Previous to his positions in digital health, Evans held leadership roles in the healthcare groups of top marketing agencies WPP and Fleishman Hillard.

Vulcan Cyber Acquires Additional $10 Million in Series A

Israeli startup Vulcan Cyber secured $10 million in Series A funding from Silicon Valley-based Ten Eleven Ventures and original seed backer YL Ventures. In addition, the company announced that Ten Eleven Ventures’ general partner Mark Hatfield has joined the Vulcan board and Glenn Chisholm, former CTO of Cylance and co-founder and CEO of Obsidian Security, has joined as an investor.

The Vulcan Cyber platform is designed to control and orchestrate security, DevOps, and IT tasks and tools, allowing enterprises to automate and scale their vulnerability remediation processes. Its contextual prioritization engine ranks vulnerabilities to the enterprise by correlating asset technical attributes and configurations, security assessment results, and threat intelligence. This approach allows teams to focus on the most critical vulnerabilities predicted to be exploited in their digital networks.

The company plans to use the funds to expand commercial operations in North America and grow development and support capabilities.

SiFive Secures $65.4 Million In Series D Funding

Commercial RISC-V processor IP and silicon solutions provider SiFive, Inc., raised $65.4 million in a Series D round led by existing investors Sutter Hill Ventures, Chengwei Capital, Spark Capital, Osage University Partners, and Huami, alongside new investor Qualcomm Ventures LLC. This Series D round brings SiFive’s total investments to date to $125 million.

SiFive has grown from 40 employees in a single office to 400 employees across 15 locations globally, including Beaverton, Oregon; San Mateo and Milpitas, California; Austin, Texas; Boston, Massachusetts; Bangalore and Pune, India; Shanghai, China; Seoul, Korea; and Hsinchu, Taiwan. The company plans to use this latest round of investment to accelerate SiFive’s global expansion and technology development.

Law Software Platform Litify Raises $50 Million in Series A

Litify, a legal software platform built on top of the platform, closed a Series A investment of $50 million by Tiger Global Management, LLC, a New York investment firm.

Litify’s software offers an intuitive, integrated, extensible platform featuring custom applications specifically for the legal industry, including client relationship management, document and case management, and internal and external communication.  

Lifty plans on using the financing to expand its offerings to include in-house counsel, as well as a corporate law offering for mid-to-large size firms and an off-the-shelf solution for smaller-sized law firms.

Innoviz Technologies' Series C Funding Closes at $170 Million

LiDAR sensors and perception software provider Innoviz Technologies secured a $170 million Series C funding round, bringing Innoviz’s total funding to date to $252 million.

Innoviz’s perception software is designed to provide vehicles with superior object detection (with 50 times greater efficiency than industry and academic standards), classification, segmentation and tracking technology to complement Innoviz’s LiDAR hardware offerings.

The company plans to use the funding to support several key initiatives, including the enhancement of Innoviz’s perception software.

Hospitality Company Getaway Gains $22.5 Million in Series B

Getaway, a wellness hospitality company that provides mindful escapes to tiny cabins in nature within two hours of major cities, closed a $22.5 million Series B financing round led by a controlled affiliate of Starwood Capital Group, with continued support from L Catterton and other existing shareholders.

Getaway strives to offer guests the ability to “unplug” from the stress of daily life, reset, and embrace nature. Every minimalist, design-focused cabin is situated in a serene environment where guests are encouraged to recharge and spend time on their relationships with themselves and their loved ones.

Finance Company OpenFin Raises $17 Million in Series C

OpenFin raised $17 million in a Series C funding round led by Wells Fargo with participation from Barclays and existing investors including Bain Capital Ventures, J.P. Morgan, and Pivot Investment Partners. The Series C round brings OpenFin’s total amount of venture funding to $40 million.

OpenFin’s desktop operating system is designed to enable financial services firms to build new applications with modern web technology while enabling seamless, secure integration with legacy applications. According to the company, the financing proceeds will be used to fund further product innovation, including OpenFin’s new cloud services offering, which enables banks, asset managers, wealth managers, and hedge funds to provide their own private app stores for employees and customers out of the box.

HR Startup Karat Acquires $28 Million in Financing

Karat, a startup conducting technical interviews on behalf of clients, raised $28 million in a Series B funding round led by Tiger Global Management, with participation from existing investors Norwest Venture Partners and 8VC.

According to the company, its interview engineers are experienced software developers who conduct live first-round technical interviews on behalf of clients. They are equipped with Karat’s interviewing infrastructure and data-informed best practices from the company’s structured-interview dataset.

Karat plans to invest the funding in R&D to leverage its structured-interview intelligence to improve its technical interviews for hiring software engineers.