by Jonathan P-Wright | Jan 18, 2024 | Business News, Latest |
Guardz, an Israeli cybersecurity startup, providing all-in-one security and cyber insurance solutions for small and medium businesses (SMBs), has successfully raised $18M in a Series A round of funding.
The Increasing Cybersecurity Threats for SMBs
With the advent of AI technologies, the cybersecurity landscape is shifting. SMBs, which were once considered safe from cyberattacks due to their size and fragmented nature, are now becoming a prime target for cybercriminals.
According to some estimates, SMBs now account for roughly half of all cyber breaches worldwide.
The reason behind this shift is the development of AI-powered cyber attack tools that allow malicious actors to launch large-scale attacks with ease. These AI technologies have made it possible to exploit vulnerabilities within SMBs, causing a spike in cyber threats.
Guardz’s Journey: From Stealth Mode to $18M
Founded less than a year ago, in January 2023, Guardz has swiftly pivoted from its initial business model. Initially, the company aimed to sell its security solutions directly to SMBs. However, it soon realized that Managed Service Providers (MSPs), who sell and manage IT services for SMBs, were the primary route to reach its target audience.
As a result, instead of direct business, Guardz began partnering with MSPs, enabling them to offer their own services “powered” by Guardz.
Funding and Growth
Guardz’s recent fundraising round, led by Glilot+, the early growth fund of Glilot Capital Partners, with participation from ClearSky, Hanaco Ventures, iAngels, and GKFF Ventures, has raised another $18M.
The company’s valuation has tripled since its last fundraising round, indicating a strong investor confidence in its business model and growth potential.
With this funding, Guardz aims to hire more engineering talent to continue developing its product. Currently, the company’s product is primarily sold to customers in the U.S., U.K., and Australia. It has about 200 MSPs on its books, representing some 36,000 seats using Guardz’s products.
Guardz’s AI-Based Security Solution
Guardz’s solution is an AI-based platform that provides robust security comparable to what larger organizations use. It offers its security platform as a managed service, which means the customer doesn’t have to manage it directly.
Guardz’s platform automatically detects malicious activity, provides remediation, and generates activity reports for further analysis by the MSP.
To combat the ever-evolving cyber threats, Guardz constantly expands its toolset. For instance, the company recently developed detection and remediation tools for a new type of cyber attack involving automated forwarding rules in Microsoft 365.
Guardz’s Future Plans
Guardz’s immediate plan is to use the funding to enhance its product and expand its customer base. Given the size of the SMB market and the increasing cybersecurity threats they face, Guardz has a huge potential for growth.
With over 150,000 MSPs globally serving the SMB market, Guardz has the opportunity to secure a significant share of this market.
The Bigger Picture: Cybersecurity for SMBs
Guardz is not alone in recognizing the importance of cybersecurity for SMBs. Other companies, such as CyberSmart in the U.K., CrowdStrike, and Check Point, are also competing in this growing market.
However, Guardz stands out with its all-in-one security and cyber insurance service, its focus on partnering with MSPs, and its AI-based automated threat detection and remediation tools. As SMBs continue to face increasing cyber threats, solutions like Guardz will become even more critical.
by Laghe Andrews | Jan 16, 2024 | Latest, Music News |
Photo by Heidi Fin on Unsplash
In the annals of music history, The Weeknd’s “Blinding Lights” has etched its name in golden letters. The electrifying track has transcended boundaries, setting the precedent as the first-ever song to surpass the staggering 4 billion stream mark on Spotify. The achievement is a testament to the song’s universal appeal, its addictive melody, and the artist’s soaring popularity.
A Spectacular Journey Began in 2019
First unveiled to the world in November 2019, “Blinding Lights” was a part of The Weeknd’s critically acclaimed fourth studio album – “After Hours”. The album marked a new artistic direction for the Canadian singer-songwriter, defined by a pulsating mix of synth-pop and R&B.
Spotify Honors The Milestone
Recognizing the monumental achievement, Spotify celebrated the occasion with a commemorative video featuring an Abel Tesfaye (The Weeknd’s real name) trophy. It signified the unwavering perseverance of the artist and the incredible impact his music has had on the global audience.
“I’ll never stop being humbled by anything I create making its way to millions of people let alone billions! I’m so thankful this song makes people feel a way that they keep going back to listen,” – The Weeknd
The Weeknd: The Reigning King of Spotify
The Weeknd’s relationship with record-breaking feats is not new. In February last year, he became the first artist in Spotify history to cross 100 million monthly listeners. Currently, he is the most listened-to artist on the platform, boasting 113 million monthly listeners. This incredible reach has placed him in an exclusive league of global music icons.
The Financial Aspect
According to a report by Variety, the revenue generated from “Blinding Lights” is estimated to be between $15.5 million to $17.5 million in royalties. This is supplemented by approximately another $4.5 million in publishing. These numbers underscore the financial power of streaming platforms and the earning potential of chart-topping hits.
Beyond Music: The Weeknd’s Philanthropy
The Weeknd’s influence extends beyond his music. He recently collaborated with the Los Angeles-based nonprofit organization, School on Wheels, to support over 1,000 students experiencing homelessness from kindergarten through twelfth grade. His commitment to giving back to the community adds another layer to his persona, making him a true role model.
Looking Ahead: A New Album on the Horizon
Fans of The Weeknd have more reasons to rejoice. The artist recently hinted at the imminent release of the final album in the After Hours/Dawn FM trilogy. As anticipation builds, the world eagerly waits for another masterpiece from the enigmatic artist.
“Blinding Lights” reaching the 4 billion Spotify streams milestone is a fitting tribute to The Weeknd’s distinctive sound and profound impact on modern music. As the song continues to break records, it stands as a symbol of The Weeknd’s enduring appeal and an anthem for a generation.
The Weeknd has indeed made the world dance to his tunes, and with “Blinding Lights”, he has created a melody that will echo through the annals of music history. As we revel in the mesmerizing beats of this record-breaking song, we eagerly await the magic The Weeknd will conjure next.
by Jonathan P-Wright | Jan 12, 2024 | Business News, Latest |
In a significant move, data science and analytics software company, Alteryx, has announced its acquisition by private equity firms Clearlake Capital Group and Insight Partners in a deal valued at an impressive $4.4 billion.
The Irvine, California-based enterprise is set to transition from public to private ownership under the deal. Clearlake and Insight emerged victorious over Symphony Technology Group, another private equity contender, to secure this remarkable acquisition.
Deal Details and Impact
The transaction, which includes debt, values Alteryx’s equity at roughly $3.46 billion, according to Reuters. The deal represents a 29.1% premium over Alteryx’s closing share price on Friday. This transaction is expected to reach its conclusion in the first half of 2024, subject to standard closing conditions and approvals.
The potential impact of this deal on Alteryx’s ~2,900 employees remains uncertain at this stage. However, the company’s CEO, Mark Anderson, has shared his optimism about the acquisition.
“In addition to delivering significant and certain cash value to our stockholders, this transaction will provide increased working capital and industry expertise — and the flexibility as a private company,” Anderson said. “We’re excited to partner with Clearlake and Insight for the next stage of Alteryx’s journey.”
Alteryx: A Brief History
Alteryx, originally known as SRC, was co-founded in 1997 by Dean Stoecker, Olivia Duane Adams, and Ned Harding. Initially, the firm was focused on developing data engines for demographic-based mapping and reporting. In 2006, SRC launched the software app Alteryx, which served as a platform for building analytical processes and services.
By 2011, SRC had rebranded as Alteryx, marking the software app as its core product. After securing millions of dollars from VC firms such as Toba Capital, Insight, Sapphire Ventures, ICONIQ Capital, and Meritech Capital Partners, Alteryx made its debut on the NYSE in 2017.
Transition and Success
In recent years, Alteryx has made a strategic move towards a subscription-based business model and heightened its focus on AI-powered features. This decision aimed to tap into the growing demand for data analytics services. According to Research and Markets, the big data analytics market could surge from $37.34 billion in 2018 to $105.08 billion by 2027.
Alteryx has successfully amassed over 8,300 companies as its customers, including major brands such as Coca-Cola, Vodafone, Walmart, and Ford. The company reported $232 million in sales last fiscal quarter, an 8% rise from the same period a year ago. Moreover, its annual recurring revenue also saw a significant boost, soaring by roughly 21% to $914 million.
“When we founded Alteryx in 1997, we did so with a vision for the future of data science and analytics. Today, Alteryx stands out as an industry leader with a differentiated platform that scales data democratization in a governed manner,” Stoecker said. “Our agreement with Clearlake and Insight validates the strength of our business and the value of Alteryx’s capabilities and innovation.”
Conclusion
This monumental deal between Clearlake, Insight, and Alteryx underscores the growing importance of data analytics in the contemporary business landscape. It also illustrates the immense potential and value that companies like Alteryx hold in the rapidly evolving tech industry.
by Laghe Andrews | Jan 12, 2024 | Business News, Latest |
Image credit: Tupungato / Shutterstock.com
In a recent move, SoftBank sold its Open Opportunity Fund to its chairman and managing partner, Paul Judge, and Marcelo Claure, who is to be appointed the fund’s vice-chairman and general partner. This groundbreaking shift is seen as a substantial milestone, demonstrating a concrete move towards more inclusive representation within all layers of the venture capital ecosystem.
The Open Opportunity Fund: A Brief History
Earlier this year, SoftBank rebranded its Opportunity Growth Fund, bringing it under the new name of Open Opportunity Fund (OOF). Paul Judge, who was then appointed as chairman, also became a co-owner of the fund. Marcelo Claure, the initial launcher of OOF, had served as SoftBank’s COO up until 2022 and is making a return to work with the fund after a year-long hiatus.
“Marcelo brings a wealth of experience and a vast network that can help our portfolio companies. Marcelo’s extensive network of Latino entrepreneurs significantly enriches our deal flow within this vibrant community,” Judge said.
Significant Contributions
Fund 1, which is now owned by Judge and Claure, deployed $100 million in 75 Black and Latino companies, yielding seven exits and 46 follow-on rounds. SoftBank will continue to be an LP in Fund 2, and according to Claure, the fund is on the lookout for investors seeking to drive more diversity in the tech ecosystem, and who “value the importance of supporting underrepresented entrepreneurs.”
The Future of the Funds
Fund 2, which was launched earlier this year, will also increase its target to $200 million. This fund will invest in 50 pre-seed to growth-stage companies in fintech, health tech, edtech, sales and marketing, and enterprise IT. It should be noted that companies from Fund 1 may also receive funding from Fund 2 on a case-by-case basis, as stated by Judge.
Why Diversity Matters
“We believe the Black and Latino founder market is an untapped source of outsized returns and this focus allows us to find alpha that other VCs have overlooked,” Judge said. “The strong performance of Fund I proves that thesis works.”
This move is not just a significant milestone for SoftBank, but also a giant leap for the venture capital ecosystem. With more diverse representation in the higher echelons of venture capital firms now, the future of the tech ecosystem looks promising indeed, with greater support for underrepresented entrepreneurs.
The world of venture capital can often be complex and difficult to navigate, particularly for underrepresented entrepreneurs. However, with moves such as these from giants like SoftBank, the future of entrepreneurship and innovation looks bright indeed.
by Laghe Andrews | Jan 10, 2024 | Latest, Music News |
In the world of music, news doesn’t get much bigger than this. Ja Rule, the once-infamous artist from the Murder Inc label, has recently surfaced to claim a new label deal potentially worth a whopping $100 million. The plot twist? Not everyone’s buying it.
The Announcement
The news first broke on the popular platform X, where Ja Rule enthusiastically shared his joyous news. He embraced the outpouring of love from his followers, while delivering a powerful message to his detractors: “SMD.”
The reaction on social media, however, was far from unanimous. Critics and fans alike weighed in on the validity of his claims, sparking a flurry of debates and discussions.
Ja Rule’s Response
Never one to back down, Ja Rule took to his Twitter account to address his critics. The “Put It On Me” rapper didn’t hold back, taking jabs at those who failed to congratulate him on his alleged success.
“Understand this: HATE is for losers and brown-nosing will get you nowhere. Stop being goofy and start making money,” Ja Rule tweeted, expressing his thoughts on the situation.
Introducing “Petty Murphy”
It seems the controversy has brought out a new side to Ja Rule. He introduced his followers to his alter ego, “Petty Murphy” and declared that he was done playing the role of the “bigger man.”
In a display of his relevance and popularity, Ja Rule also shared details about his upcoming Sunrise Tour. This Europe-based tour, featuring renowned artists like Keri Hilson, Mya, and Lloyd, is slated to kick off in March.
The Fan Base Divided
As the news about Ja Rule’s alleged new label deal spread, it divided his fan base. While some stood by the rapper, crediting him for creating “every hit you grew up listening to,” others were less supportive. They accused Ja Rule of lying and even tagged his longtime rival, 50 Cent, in their comments.
“Why are you tagging that snitch?” Ja Rule shot back at one of the critics, refusing to be swayed by the negativity.
The Elusive Deal
At this point, details about Ja Rule’s alleged deal remain shrouded in mystery. The 47-year-old rapper has not yet disclosed the specifics of this contract. However, he did reveal that he’s currently in “album mode,” indicating a possible return to the music scene after more than a decade.
Conclusion
So, is Ja Rule’s claim of a $100 million label deal true, or is it just another addition to the rapper’s infamous history of controversies? Time will tell. But for now, this news has certainly put Ja Rule back in the spotlight.
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