WhiteSource picks up $10 mln Series B

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New York City, Boston and Israel-based WhiteSource, a provider of continuous open source software security and compliance management, has secured $10 million in Series B financing. The lead investor was 83North with additional participation from Microsoft Ventures and David Strohm of Greylock Partners.

PRESS RELEASE

June 14, 2017 — New York and Tel Aviv, Israel — WhiteSource, the leader in continuous open source software security and compliance management, today announced a $10M Series B financing round led by 83North, with additional participation from Microsoft Ventures and individual investor David Strohm of Greylock Partners. The new funding will help WhiteSource expand its market leadership in open source security and compliance solutions.

Application development has undergone a revolution in recent years as organizations embrace open source software, in some cases making up to 80 percent of the code base. These practices not only reduce cost and accelerate delivery times, but also introduce management challenges and security vulnerabilities. Some of the most publicized security breaches of recent years, such as the Heartbleed bug, were introduced through the deployment of vulnerable open source components.

Founded by three serial entrepreneurs, Ron Rymon, Azi Cohen and Rami Sass, WhiteSource grew revenues 300 percent year-over-year for the last three years by tapping the need to better track and secure open source assets. The strong offering has also been recognized by Forrester, who recently ranked WhiteSource as a “strong performer” among all Software Composition Analysis (SCA) offerings in its 2017 Wave report.

“The investment in WhiteSource follows our conviction that the rapid acceptance of open source software, which now comprises most of the new code in SMBs and enterprises, is not well managed,” said Erez Ofer, Partner at 83North. “This issue is exacerbated as companies employ DevOps to reduce time- to-market, increasing the need for a comprehensive solution like WhiteSource’s”.

WhiteSource’s namesake solution secures and manages open source components of hundreds of enterprises and SMBs around the world. It empowers customers to fully control open source usage with real-time alerts, reports and automated enforcement of policies across the DevOps continuous process.

“Our vision from the outset was to help organizations safely, securely and continuously adopt, manage and deploy open source components,” stated Rami Sass, Co-founder and CEO of WhiteSource. “We are a first mover, and through nonstop innovation, have built a solution that monitors code components in real-time to become an integral part of the DevOps cycle.”

“Microsoft is committed to strengthening its relationship with the open source community,” said Mony Hassid, general manager and managing director, Microsoft Ventures EMEA. “As a Whitesource partner, we’ve seen firsthand the value its open source security and compliance solutions bring to enterprises.

Our investment in its technology is a testimonial of our drive to make open source software practical, productive and secure.”

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About WhiteSource

WhiteSource allows engineering, security and compliance officers to effortlessly secure and manage the use of open source components in their software, allowing developers to focus on building great products. WhiteSource fully automates all open source management processes: component detection; security vulnerability alerts and fixes; license risk and compliance analysis along with policy enforcement; quality review, and new version alerts. It offers a complete suite of control, reporting and management to help software teams manage open source truly effortlessly.

For more information about WhiteSource, visit http://ift.tt/ZWMU7A or follow us on twitter: @whitesourcesoft.

June 14, 2017 at 04:43PM

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Digital Health Startup Thriva Raises £1.5m in Seed Funding To Drive Proactive Health Movement

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June 14, 2017 at 06:49AM

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ShipBob Raises $17.5 Million to Streamline E-Commerce Fulfillment

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June 14, 2017 at 06:49AM

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Doctible Closes $2.2m Series Seed Funding to Accelerate National Expansion

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June 14, 2017 at 06:49AM

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AEye Announces $16 Million Series A Funding from Kleiner Perkins, Airbus Ventures and Intel Capital

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June 14, 2017 at 06:49AM

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Compliance.ai reels in $4 mln from Cota Capital

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San Francisco-based Compliance.ai, a financial regulatory platform provider, has secured $4 million in financing. The investor was Cota Capital.

Source: Press Release

June 13, 2017 at 09:09PM

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Nasdaq joins investment round in French blockchain startup Stratumn: Reuters

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U.S. exchange group Nasdaq Inc has joined a 7 million-euro ($7.9 million) investment round in Stratumn, which helps companies develop applications using blockchain technology, the Paris-based startup said last Thursday.

The investment was led by Open CNP, the corporate venture arm of French insurer CNP Assurance SA, with participation from the Digital Currency Group and existing investor Otium Venture, Stratumn said.

Stratumn, which employs 15 people, said it will use the funding to develop its technology and double the size of its team by the end of 2018.

“Our new investors will enable Stratumn to continue and accelerate its development and more effectively address growing needs in our markets,” Richard Caetano, co-founder and chief executive of Stratumn, said in a statement.

The company said it has already developed projects with large companies including CNP Assurances, Allianz France, Nasdaq, and Thales SA.

Large companies, including banks and market infrastructure providers, have ramped up investments in blockchain over the past year in the hopes of slashing costs associated with some of their most cumbersome processes, such as securities settlement and international payments.

Blockchain, which first emerged as the system underpinning cryptocurrency bitcoin, is a shared ledger of transactions that is maintained by a network of computers on the internet, rather than a centralized authority.

Proponents of the nascent technology say it offers a more secure and transparent way to record large amounts of data.

Skeptics have warned the technology is still in its early days and may need several more years before it can be deployed on a large scale.

As part of the deal, Stratumn and Nasdaq have also entered a partnership to conduct joint research and development activities on blockchain applications in capital markets, the companies said.

Nasdaq declined to comment on how much it has invested in Stratumn.

Nasdaq was one of the earliest supporters of the technology among large financial institutions.

In May 2015 it announced it would use the technology to operate its market for shares of private companies and a few months later backed San Francisco-based blockchain startup Chain.

The group is also looking to sell blockchain-based systems through its division that provides trading technology to exchanges and clearing houses globally.

“An investment in Stratumn was a natural development for us given the experimentation projects we have successfully executed with Richard and his team over the past year,” Jean-Jacques Louis, Nasdaq head of corporate strategy, said in a statement.

June 13, 2017 at 09:09PM

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Digital pharmacy startup Alto bags $23 mln: TechCrunch

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Digital pharmacy startup ScriptDash has raised $23 million in funding, according to TechCrunch. Greenoaks Capital led the round with participation from other investors that included Jackson Square Ventures. Also, ScriptDash has rebranded as Alto.

June 13, 2017 at 09:09PM

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IoT smart home sensor Notion seals $10 mln Series A

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Denver-based Notion, an internet of things smart home sensor, has raised $10 million in Series A funding. Draper Nexus and TransLink Capital led the round with participation from other backers that included XL Innovate and Mesh VC.

PRESS RELEASE

DENVER – June 13, 2017 – Notion, the complete home awareness solution powered by an all-in-one IoT smart home sensor, today announced that it has secured $10 million in Series A funding. Led by Draper Nexus and TransLink Capital, with additional participation from existing investors XL Innovate, Mesh VC and others, the latest round brings Notion’s total funding to approximately $15 million since its launch in 2013.

Notion, which has partnered with three of the top five home insurance providers in the country to offer a cost-effective loss mitigation system and home telematics solution, will use the new funding to expand those existing partnerships, as well as pursue new relationships with leading property insurers. The capital will also support product development and manufacturing, increased marketing efforts, and critical hires across the company’s engineering, data science and marketing departments.

“At Notion, it’s our mission to build products and services that give homeowners peace of mind and ultimately empower them to live better, more present lives. That’s what complete home awareness means to us,” said Brett Jurgens, Co-Founder and CEO of Notion. “This additional funding will allow us to amplify our relationships with insurance companies, and we’re excited to work alongside these partners to build more positive connections with homeowners and reward them with reduced insurance costs.”

Homeowners have plenty of options when it comes to home monitoring solutions, but most of them fall into two categories: traditional, expensive security companies that require a hefty monthly fee and long-term contract, or more complicated DIY solutions that are limited to a single use.

Notion’s low-cost and easy-to-install sensors pack eight capabilities into a single device. Each sensor is identical and multi-functional, which means homeowners can place them in different spots around their home depending on what they care about. From doors opening and closing, to monitoring temperature, to detecting water leaks or a sounding alarm, Notion enables homeowners to customize notifications sent to their Android or iOS smartphone for peace of mind across their whole home. In the last year alone, Notion has sent more than four million notifications and has saved homeowners across the country more than half a million dollars in property damages.

In addition to leading the round, Mitch Kitamura, Managing Director at Draper Nexus, and Toshi Otani, Co-Founder and Managing Director at TransLink Capital, will join the Notion board of directors.

“By putting Notion into homes across the country, insurance companies have unlocked an opportunity to positively engage with mainstream consumers via smart home technology,” Kitamura said. “In return, Notion offers insurance companies unmatched access into the behaviors and activities happening inside the home. From reducing loss, to defining the characteristics of a safe property owner and informing underwriting practices, Notion’s wealth of data has the potential to materially change the way the insurance industry operates.”

Notion is headquartered in Denver, Colorado and is available in the US and Canada. For more information, visit http://ift.tt/1UjnHfw.

About Notion

Notion is the complete home awareness solution, powered by an all-in-one smart home sensor, that sends alerts to a homeowner’s mobile device for the things they care about most — water leaks, smoke alarms, temperature changes and doors, garages and windows opening and closing. Notion is more than home security. Notion delivers real-time peace of mind. For more information, please visit http://getnotion.com/

About Draper Nexus

Draper Nexus is a US-Japan cross border venture capital firm based in Silicon Valley and Tokyo focused on investments in Enterprise Technology, Industrials and Sustainability startups. We are a financial investor with corporate backing combining the best of the worlds of traditional and corporate venture capital. We leverage our strong network of C-level executives at large Japanese conglomerates to enable business and customer development opportunities for our portfolio companies. Follow us on Twitter @DraperNexus.

About TransLink Capital

TransLink Capital invests in seed, early, and expansion stage U.S. based technology startups that can benefit from the firm’s long-standing relationships with leading Asian technology, Internet, electronic manufacturing services, and telecommunications services corporations in Greater China, Japan, and South Korea. TransLink’s primary focus is on Series A investing and selectively invests in seed and later stage companies.

June 13, 2017 at 08:38PM

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