Social Media and Digital Risk Monitoring Market Leader Completes Series C Investment Round, Bringing Total Funding to $88 Million. New Investment Will Help Drive Global Expansion and Product Advancement..
BigID Announces General Availability of Its Enterprise Privacy Management Platform at RSA
February 14, 2017, San Francisco, CA
BigID Inc. has today announced the general availability and pricing plans of its enterprise privacy management platform. Founded in early 2016, the company has sparked much interest in their innovative and up-to-the-minute approach of critical data management issues. The company’s technology seeks to help enterprises better protect the privacy of their customers' personal data through the application of machine learning and identity intelligence to data privacy. With the success of its early access beta program, their pioneer data privacy solution will now be more widely available.
New privacy regulations like the EU General Data Protection Regulation (GDPR) are confronting enterprises with potential fines reaching 4% of their global revenue for not meeting specific requirements around customer and employee data rights. BigID is the first ground up data intelligence platform that provides the centralized view into personal and private data distributed across data repositories required in order to meet EU GDPR requirements such as data subject rights, automating simplifying Privacy Impact Assessments, ensuring prompt and accurate breach response and tracking privacy requirements around consent, residency, X-border flows and retention. Using BigID enterprises can satisfy GDPR and similar regulations while also enhancing personal data breach prevention, detection, defense and response. This release comes at a particularly pivotal point as 2016 saw a record number of personal record data breaches.
“It has become increasingly difficult for companies to stay ahead of data breaches. As a reaction to this, many countries have introduced new regulations that place an unprecedented level of accountability on enterprises for the personal data they collect with penalties that can reach 10% of overall global revenue,” said Dimitri Sirota CEO and Co-Founder of BigID. “Our platform provides a data-centered solution that helps companies meet new data protection and privacy challenges.”
The company will be demonstrating its personal data protection and privacy solution at the Early Stage Expo at the RSA Conference (intercontinental Hotel) Feb. 14-16, Booth #16. For more information contact info(at)bigid(dot)com or visit bigid.com.
About BigID Inc.
BigID aims to transform how enterprise protect and manage the privacy of personal data. Organizations are facing record breaches of personal information and proliferating global privacy regulations with fines reaching 4% of annual revenue. Today enterprises lack dedicated purpose built technology to help them track and govern their customer data. By bringing data science to data privacy, BigID aims to give enterprises the software to safeguard and steward the most important asset organizations manage: their customer data. BigID has offices in the US and Israel and is founded by security industry veterans spanning the identity, data security, big data and governance markets. To learn more visit bigid.com or @bigidsecure.
LeadiD Closes $10 Million Series B Funding, Changes Name to Jornaya
June 29, 2016, Philadelphia, PA
Jornaya, the fast-growing consumer journey insights platform, today announced that it has secured $10 million in Series B funding and has changed the company’s name from LeadiD, effective immediately. The funding round was led by Edison Partners and positions the company for its next chapter of growth as Jornaya. The new corporate brand reflects the critical role Jornaya’s predictive analytics platform plays in providing real-time insight into the consumer purchase journey, for improved customer acquisition outcomes.
Since its inception in 2011, Jornaya has experienced accelerated growth by effectively anticipating the skyrocketing demand for more relevant behavioral data insight to drive strategic customer acquisition programs. By the end of 2015, the company had achieved 17 consecutive quarters of revenue growth and increased its revenue per employee an impressive 54 percent year over year. During 2015, Jornaya added more than 30 new customers, and notably, attributed nearly 50 percent of growth to deepening relationships with its existing customer base across the insurance, mortgage, education, automotive and solar industries.
“To truly understand a consumer’s intent to make a purchase, marketers must collect the dots before they can connect the dots,” said Ross Shanken, founder and CEO, Jornaya. “Over the last few years, we’ve worked tirelessly to unlock the unique predictive power of our consumer journey insights. The expanding scope of our offering called for a more all-encompassing brand. Jornaya reflects our vision and future technology initiatives designed to continue to give marketers a competitive edge.”
Predictive intelligence tools are rapidly growing in adoption, since they are instrumental in helping marketers understand their consumers’ behavior and likelihood to buy. The recently published Salesforce 2016 State of Marketing Reportpoints out that 79 percent of high-performing marketers currently use predictive intelligence. The report also states that the high performing marketing teams are 8.8 times more likely than underperforming teams to have adopted a customer journey strategy, with nearly all (88 percent) of those high-performing teams agreeing that a customer journey strategy is critical to the success of their overall marketing efforts.
“Jornaya has been at the forefront in innovating and anticipating the growing importance of digital marketing science,” said Ryan Ziegler, general partner, Edison Partners, who has joined the Jornaya board of directors. “The convergence of massive computing power, connected devices and seemingly unlimited amounts of data has enabled this market transformation and makes Jornaya a pivotal platform for understanding the online journey from consumer to customer to retained customer. We look forward to partnering with Jornaya as they grow and continue to drive value for marketers.”
How it Works
The Jornaya platform has unmatched visibility into the consumer journey and the consumer's intent because its technology is a first-hand witness to everything the consumer does across devices, browsers, and web properties. Jornaya is an essential addition to a marketer’s decisioning toolkit. No matter what else a marketer’s consumer intent tool kit includes, Jornaya contributes data and insights that cannot be found from any other source. Jornaya’s platform seamlessly integrates with any consumer journey decisioning process.
Jornaya is the consumer journey insight platform that provides marketers, data analysts, and compliance professionals with the highest-resolution view of the consumer buying journey. It is the only technology platform that witnesses both first- and third-party consumer interactions in real time and across devices. Meeting consumers at these moments of intent enables businesses to shorten the distance between data, decision, and action. Jornaya seamlessly integrates with any buyer journey decisioning process or toolkit.
About Edison Partners
For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing software industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Princeton, NJ, McLean, VA, and Cleveland, OH, manages more than $1 billion in assets throughout the eastern United States.
Rocketrip raises $9 million to help companies save, employees make money on business travel
June 20, 2016, New York, NY
Rocketrip believes you can motivate employees to spend less on business travel by rewarding them with gift cards. For each trip, the startup establishes a “budget to beat” and helps employees split the savings with the company.
The concept gained early traction and now New York-based Rocketrip is raising an additional $9 million in funding led by Bessemer Venture Partners with participation from existing investors, Canaan Partners and Genacast Ventures.
“We’ve got a strong and quickly growing client base and we’re going to use the funds to both enhance our solution to existing clients and expand our sales team to grow the business,” said CEO Dan Ruch, whose clients include Opower, Wayfair and some undisclosed Fortune 500 companies. “We’ve proven that the model works, that rewarding employees for company friendly behaviors creates a hugely strong ROI.”
Rocketrip estimates it saves clients an average of $301 per trip, or 27.6% beneath their trip budgets. Ruch said that Rocketrip is targeting companies that spend at least $1 million on travel, with its largest customer spending $365 million on business trips last year.
The startup builds algorithms that find real-time pricing for transportation and incorporates this information in a customized budget. Employees can book using their favorite travel sites and Rocketrip provides companies with insights and analytics about travel spend.
Rocketrip has a SaaS business model and makes money based on volume of travel spend. In addition to gift cards, Rocketrip can reward employees with charitable contributions, travel benefits and other incentives.
BigID Takes $2.1M To Help Enterprises Grok Customer Data Privacy Risks
New York - May 24, 2016 Today, BigID Inc., a pioneer in enterprise privacy management, is announcing initial$2.1M in venture funding and early access to its privacy management platform for enterprises. Enterprise focused seed funds Genacast Ventures, BOLDstart Ventures, and Deep Fork Capital all participated in the financing.
More than 1 billion personal data records were lost or stolen over the course of the past year, costing business over $150 billion. BigID's privacy management platform provides enterprises a new way to find, monitor and analyze customer data to both reduce breach risk and improve privacy compliance. Pressure on enterprises to improve their customer data security has been reinforced by recent regulations like the EU's General Data Protection Regulation (GDPR) which penalizes privacy non-compliance with sanctions up to 4% of revenue.
"Customers are loyal to businesses they trust. BigID gives organizations a new way to safeguard their customer information. Identity theft, loss and misuse is a paramount worry for consumers and the regulators that protect them. BigID is the first dedicated solution designed to give business the tools they need to protect the privacy of their customers," said Dimitri Sirota, CEO and Co-Founder of BigID.
"Almost daily, the news headlines feature a new company whose customer data has been compromised," said Gil Beyda, Managing Partner of Genacast Ventures. "The cost to business is huge: reputation damage, long investigations, costly repair, lawsuits, regulator penalties, insurance payouts and sometimes worse. Privacy is the new business imperative. BigID provides businesses technology to manage what today is an expensive and error-prone manual approach to privacy."
Ed Sim, Managing Partner of BOLDstart Ventures added: "Privacy is where the security market was 20 years ago. BigID is first-to-market with a critical protection solution for safeguarding the most valuable asset a company has: its customer information."
About BigID Inc.
BigID, Inc. is the first privacy management platform for the global enterprise. Using BigID, companies reduce breach risk, contain liability exposure and address proliferating global privacy regulations. The company was founded by identity and security veterans Dimitri Sirota and Nimrod Vax. Sirota previously cofounded API Security & Management vendor Layer 7 Technologies. In 2013, Layer 7 exited to CA Technologies. Vax has over 15 years' experience in Identity and Security as an engineering and product manager, served as product line manager of the Identity Management and Governance product lines at CA Technologies. BigID is headquartered in NY with development offices in Telaviv. You can follow BigID at www.bigid.com and @bigidsecure.
About Genacast Ventures
Genacast Ventures invests in technology entrepreneurs with a vision and passion for forging new markets or disrupt old ones. Established in 2008 as a partnership between serial entrepreneur Gil Beyda (Real Media and Tacoda) and Comcast Ventures, Genacast's commitment to helping exceptional entrepreneurs build great companies is already experiencing success with its first investment Invite Media being acquired by Google, its second investment Demdex being acquired by Adobe, its fifth investment Divide being acquired by Google and its sixth investment MortarData being acquired by DataDog. Current portfolio companies include DoubleVerify (advertising), Mortar Data (big data), LeadiD (lead generation), YieldMo (mobile advertising), Rocketrip (corporate travel), ZeroFox (security), RevMetrix (retail analytics), Overlap (scheduling) and STAQ (advertising). Genacast invests up to $1M in 46 seedstage startups each year.
STAQ Raises $5 Million Funding Round to Capture Digital Marketing Integrations Market
New York - May 19, 2016
STAQ, the automated reporting and integrations platform as a service today announced that the company has closed on a $5 million round of funding led by Pereg Ventures and also including Genacast Ventures, Core Capital, Kinetic Ventures, and Revel Partners. The round allows STAQ to strengthen their position as the leading firm in the fast growing integrations and reporting automation market for digital advertising technology. STAQ's platform integrates the technologies that publishers and advertisers use to drive their digital businesses.
The digital advertising ecosystem contains thousands of technologies that companies must use in order to transact and monitor business performance at scale. Until STAQ introduced its service, publishers, brands, and agencies used costly manual labor or custom integrations to collect and move information across systems. STAQ, which contains over 350 standard integrations, creates an economy of scale for the market; where each integration can be utilized by any company working with these connected technologies. With STAQ, advertising trafficking data, delivery reporting, and performance analytics can be automated across an organization, for data warehousing or analytics tools, reducing cost and labor.
"We are very excited to support the STAQ team as they enter their next phase of growth," said Ziv Ben Barouch from Pereg Ventures. "Digital advertising systems are growing in breadth and complexity. STAQ's unique platform collects and streamlines information between systems, creating a more efficient and profitable scenario for the companies that use these vendors' products."
The funding that STAQ receives will allow the company to double down on additional integrations between technologies in the digital advertising space and increase the scope of advertising analysis and optimization available through the platform. STAQ will also be hiring additional leadership to drive these growth efforts.
"We're thrilled to raise an additional round of funding to fuel our next level of growth. The need for an integrations platform in digital advertising is clear as new technologies, APIs and metrics are constantly evolving," said James Curran, CEO of STAQ. "Not only can advertising managers eliminate costly manual labor with STAQ, analysts and executives can generate insight across their business much more quickly and accurately."
STAQ is digital advertising platform that unifies analytics data and automates operations across the ad technology stack for media companies. With proprietary integrations technology, STAQ clients can easily connect with over 350 ad servers, exchanges, CRM and workflow tools in the industry, eliminating manual spreadsheet work while driving higher yield and ROI. www.STAQ.com
ZeroFOX Secures $27M Round Led by Highland Capital DEC. 3, 2015, BALTIMORE, MD — ZeroFOX, the leader in social media cyber security, has raised an additional $27 million in capital to provide detection and defense for social media security threats. Previous investors NEA, Genacast Ventures and Core Capital also participated in the round, along with Silicon Valley Bank. Finally, several industry veterans participated in the round as strategic investors, including Lane Bess, former CEO of Palo Alto Networks; Tim Eades, CEO of vArmour; and Avi Rubin, the Technical Director of the Information Security Institute at Johns Hopkins University.
In conjunction with the round, Corey Mulloy, general partner at Highland Capital, is joining the ZeroFOX board. Corey is a seasoned investor in the cyber security industry and has helped guide several market-leading companies to successful exits. His track record in the industry is impressive, including sitting on the board of Datiphy, Malwarebytes, vArmour and Gigamon where he serves as the publicly traded company’s Chairman of the Board.
“It has become a truism that every new digital platform is quickly followed by corresponding digital security,” said Corey Mulloy. “Social media is the biggest change in the digital landscape over the past decade, and organizations are increasingly coming to terms with the risk exposure associated with social networking. ZeroFOX has perfectly positioned and proven themselves as the social media cyber security experts. I am confident that ZeroFOX’s exceptional team and technology will define and dominate this quickly developing market.”
Much has been written about the rise of social network exploitation and the use of social media to compromise corporate networks. Cisco’s 2015 Midyear Report claims Facebook scams are the #1 method to breach the corporate network, far more common than traditional email phishing. McAfee reported that employees experience cyber crime on social media more than any other business platform, including email. According to Norton, 40% of people have fallen victim to social media cyber crime and nearly 4 in 10 accept unknown, unsolicited friend requests. Barracuda’s research supports this as well: 92% of social media users report receiving spam, 54% have received phishing links and 23% have received malware. Finally, TrendMicro’s research shows that 5.8% of tweets are malicious; roughly 29,000,000 malicious tweets per day.
“Over the past year and a half, the ZeroFOX team has done an exemplary job of growing their company with purpose,” said Peter Barris, ZeroFOX board member and Managing General Partner at NEA. “Their development has been tailored to the increasing market demand for a powerful social media cyber security solution. Across the board, their numbers are trending in the right direction and at the right pace. I am thrilled to help guide ZeroFOX through their next phase of growth, and I’m invigorated by Highland Capital’s interest and partnership.”
“I am honored to have some of the most renowned and experienced venture capitalists on the ZeroFOX Board of Directors,” said James C. Foster, ZeroFOX Chairman and CEO. “We started down this journey less than 3 years ago, and in that time, the support and guidance we received from our investors has been invaluable. The vote of confidence in my team and me is humbling. With Highland Capital’s investment, we are excited to continue providing organizations across the globe with the most comprehensive social media security possible.”
ZeroFOX will focus on accelerating scale by adding significant investment into engineering, global sales & marketing efforts, increasing M&A activities and applying additional emphasis around IP protection & defense.
This news comes shortly after ZeroFOX announced the addition of two new sales executives, Alex Abey and Scott O’Rourke. ZeroFOX also recently announced that former CEO of Palo Alto Networks, Lane Bess, had been added to its Board of Directors
About ZeroFOX ZeroFOX protects organizations from the risks introduced by social networking and digital communication platforms. In an age of constant connectivity and social sharing, users have become the primary target for the adversary. By continuously monitoring social platforms for cyber attacks, information loss, social engineering campaigns, account compromise and fraud, ZeroFOX protects organizations from the next generation of digital threats. Leveraging cutting edge technology and proven security practices, ZeroFOX provides both targeted protection and global insights into the world of social media threats.
ZeroFOX, based in Baltimore, MD, has collected a number of industry awards including being recognized as a SINET16 Champion, Security Tech Trailblazer of the Year, one of CRN’s Top 10 Security Companies, 2013 Maryland Cyber Company of the Year, Winner of Chesapeake Regional Technology Council 2014 Rising Star Award, ‘20 Most Promising Security Companies’ by CIO Review, and Daily Record’s ‘Innovator of the Year’.
To find out more information about ZeroFOX or to join our team, please visit: https://www.zerofox.com.
Revmetrix Raises $2.2 Million Series Seed Round to Move Retailers into the Age of Big Data Washington, DC – February 19, 2015 - Revmetrix today announced it has secured $2.2 million in seed funding to debut the first omnichannel data platform for retailers. Revmetrix helps retailers leverage their own customer data to paint a detailed picture of customer behavior as it spans across multiple channels and devices. By doing so, Revmetrix enables retailers to build better, smarter interactions at every point of engagement for their shoppers. Philadelphia-based Genacast Ventures (affiliated with Comcast) and Boston-based .406 Ventures co-led the seed round.
“Today’s shoppers will browse a product on their smartphone, read reviews on their iPad, and then make a purchase in-store,” said David McBride, most recently Senior Director of Omnichannel Analytics at American Eagle Outfitters. “However, retailers keep data from those interactions in different internal systems and have no way of knowing they came from a single customer. Revmetrix gives retailers a complete view of all customer engagement, while cataloging every visit, every view, every click and every purchase - regardless of whether they were in-store, online or on their mobile device.”
The Revmetrix platform allows retailers to:
- Collect and uniquely identify interactions from a single customer as he or she engages with a retailer, regardless of whether they are in-store, online or on their mobile device, and store each interaction in a detailed customer profile designed specifically for retail.
- Build complex queries across the datastore of customer profiles, interactions, segments, locations and products to gain unique insight into the behavior of shoppers.
- Create highly-targeted audiences that are built around customer engagement with that specific retailer, based on transparent, first-party data.
- Leverage connections to dozens of marketing platforms including email, display advertising, direct mail and social to create integrated marketing campaigns that improve a customer’s omnichannel experience and ensure repeat business.
“Until today, there has not been an effective option for retailers to maximize their potential in omnichannel retailing,” said Greg Dracon, Partner at .406 Ventures. “Solutions have been limited to bloated data warehousing solutions or outdated CRM solutions. Revmetrix has created an automated customer intelligence platform unlike any other and retailers now have actionable visibility that will optimize their omnichannel business.”
“Revmetrix addresses big data analytics challenges unique to retailers, offering a far better and more cost-effective option than existing systems used today,” said Hemang Gadhia, Co-founder and CEO of Revmetrix. “With Revmetrix, retailers can quickly capitalize on customer segmentation and engagement opportunities through real-time insight and omnichannel visibility.”
Additional investors in the Revmetrix seed round include Jerry Neumann of Neu Venture Capital, Millennial Media (NYSE: MM) co-founder Chris Brandenburg, Clarabridge co-founder Sid Banerjee, Higher One (NYSE:ONE) co-founder Sean Glass, and a host of other angel investors.
Revmetrix Pilot Program Revmetrix is working with several big-name retailers to get them enrolled in the pilot program for the Revmetrix Platform. Retailers interested in participating can request more information by contacting Revmetrix at firstname.lastname@example.org.
About Revmetrix Revmetrix is an innovator in omnichannel customer intelligence for retailers, founded by serial entrepreneurs Hemang Gadhia and Christopher Brown. Both Hemang and Christopher have previously founded and exited technology startups in the data intelligence and analytics space. The Revmetrix platform seamlessly brings all retail customer information together in one place to make it easily accessible and actionable, enabling retailers to ensure customer satisfaction and loyalty on an ongoing basis. Revmetrix is based outside of Washington, DC. For more information, visit www.revmetrix.com.
Datadog Acquires Mortar Data to Enhance Analytics for Cloud Monitoring Team brings deep experience in distributed systems, big data integration and machine learning
NEW YORK – (BUSINESS WIRE) – Datadog, the leading SaaS-based monitoring platform for cloud applications, today announced it has acquired Mortar Data, a New York-based startup enabling companies to build and run custom big data applications and data pipelines. With the addition of Mortar Data’s analytics platform and experienced team, this acquisition will extend Datadog’s data analytics capabilities and will soon provide Datadog users with new ways to gain actionable insights from their data.
“Mortar Data has built a sophisticated and highly scalable platform for analyzing massive amounts of data,” said Olivier Pomel, co-founder and CEO of Datadog. “As Mortar Data’s customers we have already been using many of their capabilities. We look forward to using the Mortar Data platform, and the team’s analytics and machine learning expertise, to provide our customers with unique, actionable insights on the hundreds of billions of data points we gather each day.”
Mortar Data’s platform allows users to analyze data and build big data apps with ease. Mortar users can integrate different data sources via robust pipelines and perform complex analyses with custom machine learning applications. The platform accelerates the development and deployment of data projects and then provides operational support by quickly pinpointing issues in production and automatically recovering from transient problems.
“Over the past few years, Datadog has rapidly grown to become the leader in the cloud monitoring space,” said K Young, CEO of Mortar Data. “It became increasingly apparent that together we could accomplish something truly great by making our platform the analytics engine for the massive amounts of performance data that Datadog gathers. Our team is looking forward to joining forces with Datadog, and providing unique capabilities that will help customers quickly find and fix performance anomalies across cloud applications that run at scale.”
“In an IT operations analytics (ITOA) context, machine learning is a crucial addendum to big data platforms and services since it allows for the automated generation of insights into high volume, highly volatile, and highly heterogeneous datasets — insights that would, in most cases, be unavailable without the automated assist,” wrote Will Cappelli, Research VP, Enterprise Management, Gartner.*
Most recently, Datadog announced a $31M Series C funding round led by existing investor Index Ventures. The company continues to strengthen its leadership position within the market and has seen tremendous year-over-year growth since launching in 2010, adding customers such as Netflix, EA, Spotify, MercadoLibre and AdRoll.
About Datadog Datadog is a monitoring service that brings together data from servers, databases, applications, tools and services to present a unified view of the applications that run at scale in the cloud. These capabilities are provided on a SaaS-based data analytics platform that enables Dev and Ops teams to work collaboratively on the infrastructure to avoid downtime, resolve performance problems and ensure that development and deployment cycles finish on time.
YieldMo Closes $10 Million in Series C Financing Led by Time Warner Investments to Expand its Ad Format Lab™ and Private Mobile Marketplace Time Warner Investments joins existing investors Google Ventures and Union Square Ventures to bring a better mobile ad experience to market.
(New York, NY) October 22, 2014 - YieldMo, a mobile advertising solution that optimizes revenue for publishers, ROI for marketers, and the experience for consumers, today announced its Series C financing round led by Time Warner Investments. YieldMo raised $10 million in its latest round, with full participation from existing institutional investors including Google Ventures, Union Square Ventures, Genacast, Rhodium, and Dace Ventures.
YieldMo will use the funding to expand its pioneering Ad Format Lab™ and Private Mobile Marketplace. The Ad Format Lab conceives of innovative ways to deliver ad content on mobile publisher pages, and continuously prototypes and live tests ad formats to improve their favorability among consumers.
YieldMo's Private Mobile Marketplace then enables advertisers to purchase these exclusive ad experiences on the mobile pages and apps of premium publishers, including Time Warner properties. YieldMo’s Private Mobile Marketplace is distinct in that it only includes premium advertisers and publishers, and provides transparent reporting down to the placement level.
Since YieldMo ads typically appear on 100% of a publisher’s pages, YieldMo is uniquely able to use A/B testing, machine learning, and predictive modeling to optimize the ads towards their highest possible performance at the placement level. Advertisers frequently cite YieldMo as their top-performing mobile ad partner. Publishers in the Private Mobile Marketplace begin earning incremental revenue immediately. Due to YieldMo’s constant experimentation, publishers typically see this additional revenue increase by more than 90% during the first 12 months after launch.
Michael Yavonditte, Co-Founder and CEO of YieldMo commented, "We continue to see success with our business model, and are excited to include Time Warner as a strategic investor and partner. We made the decision to invest heavily in new technology to improve the mobile ad experience for all parties, and the benefits of this early effort are now evident. Our proprietary technology has run tens of billions of unique ad tests to date – driving superior results for both advertisers and publishers."
"YieldMo's leadership team has a successful track record of innovation in this space," said Allison Goldberg, Managing Director of Time Warner Investments. "Properties within the Time Warner portfolio partnered with YieldMo and are experiencing impressive results. We support and believe in the solution that YieldMo is building to shape the future of mobile advertising, and we are thrilled to be a part of it."
Fueled by this new funding, the YieldMo team plans to hire at least 40 new employees in the coming months. Talented individuals should email their interest to email@example.com, or tweet the company directly @YieldMo. The team is looking for:
- World-class visual designers - Creative coders and developers - Exceptional full-stack engineers - Brilliant data scientists and analysts with expertise in machine learning and/or yield optimization - Experienced account executives and business development managers
YieldMo is a mobile advertising solution that optimizes revenue for publishers, ROI for marketers, and the experience for consumers. YieldMo's Private Mobile Marketplace enables marketers to purchase high-quality non-banner ad placements in consumer-friendly formats on the mobile pages and apps of premium publishers. YieldMo was founded in 2012 by Michael Yavonditte, Teddy Jawde, Todd Coleman and Rick Eaton. The founding team previously built Quigo Technologies (acquired by AOL in 2007). The company has received funding from top-tier investors including Time Warner Investments, Google Ventures, Union Square Ventures, Genacast, Rhodium, Dace Ventures, and ff Venture Capital. YieldMo is headquartered in New York, NY. To learn more, please visit yieldmo.com.
STAQ Inc. Closes $2.5 Million Series A Financing Platform For Unifying Data Across Ad Technologies Automates The Last Mile Of Ad Operations
New York (October 21, 2014) STAQ Inc., which makes ad operations more efficient by unifying ad technology through reporting, connections and integrations, today closed a $2.5 million Series A round of institutional financing led by Genacast Ventures and Core Capital. Other investors include Kinetic Ventures, Revel Partners and The Hive, an early stage fund for data driven businesses that also provided STAQ's seed round funding of $1.1 million.
Founded in 2012, STAQ Inc. develops and provides STAQ, a collection, reporting, and integrations system for advertisement technology. Its product combines advertisement reporting that enables users to view their campaigns, inventory, data, analytics, and sales pipeline from across all of their advertising technology. Already, STAQ has integrated into more than 175 of the most widely used technologies among publishers and marketers, including ad servers, RTB exchanges, DSPs, SSPs, audience targeting systems, analytics, CRM and workflow tools.
“We’ve automated the last mile of ad operations, with programmatic reporting and analytics,” says James Curran, CEO & Co-Founder. “Everyone in the industry has a unique tech stack and different business needs. Because of this, collection and aggregation of data from different systems has been a painstakingly manual process, until now. Our technology automates this process and offers the tools to normalize all of this data, aggregating buying data across multiple DSPs and exchanges, or revenue from many direct and indirect streams for publishers.”
Mr. Curran added that the additional capital "Will fuel the expanding adoption of our product, used by brand publishers, ad technology platforms and media buyers."
"The ad tech landscape is getting more complicated every day and STAQ is an essential tool to simplify this world for digital marketers," says Gil Beyda, Founder and Managing Partner of Genacast Ventures. "As a founder of and investor in many ad tech companies, it became clear to me that STAQ is critical for today's advertisers, agencies and publishers to be successful."
“We chose STAQ because their core business focuses on our needs: Programmatic advertising data collection and scalable UI aggregation,” says Jen Witt, Director of Ad Operations at Match Media, a subsidiary of IAC. “They are staffed with industry experience, giving them deeper insight into the operational data collection problems faced by publishers using multiple UIs and APIs to collect daily figures.”
“Marketers and publishers have multiple partners that make up their marketing technology stack. Many use different ad servers, networks, DSPs, SSPs, DMPs, CRM, analytics tools and other types of platforms. Just compiling data from all of these systems can be a headache, keeping ad tech companies from being able to make quick decisions in their day–to–day ad operations," adds Mike Subelsky, STAQ Inc.'s CTO & Co-Founder. “We connect to your ad tech stack in an automated fashion, compile all of the data you need to access. Every stack configuration and use case is different and our system can be customized to specific needs. Finally, since we maintain the integrations, operations teams can launch with STAQ without needing their own tech resources.”
STAQ, Inc. (http://www.staq.com) makes ad operations more efficient by unifying ad technology through reporting, connections and integrations. The company is led by industry veterans from the Rubicon Project, Collective Media, Advertising.com and DoubleClick. It has offices in New York City and Baltimore.
Next Generation Travel Management Start-Up Rocketrip Closes $3 Million In Series A-1 FundingSeries A Investors Canaan Partners and Genacast Ventures Join New Investors CrunchFund and Paul Buchheit to Fund Product Development and Sales
NEW YORK, July 14, 2014 /PRNewswire/ -- Rocketrip, the first commercially available platform to save companies money on travel expenses by rewarding employees for cost-saving behavior, today announced that it raised $3 million in an accelerated round of funding from current and new investors. The funding will be used to expedite product development and sales efforts.
The A-1 round was led by current investors Canaan Partners and Genacast Ventures, and includes participation from new investors CrunchFund and Paul Buchheit. Rocketrip closed a $2.6 million Series A round in January 2014 led by Canaan with participation from Genacast Ventures, Y Combinator, and other investors. To date, Rocketrip has raised $6.2 million in venture funding.
"Since January's Series A round, results from Rocketrip's Pilot Programs have provided quantifiable evidence that the platform will decrease corporate travel costs by more than 20 percent, fundamentally change employee spending behavior, and make travel weary employees feel better about hitting the road," says Dan Ruch, Founder & CEO of Rocketrip. "We are all very encouraged by the positive feedback from current Rocketrip customers, as well as a deep pipeline of new business. The money raised from this A-1 round will be used primarily to drive our sales efforts as well as build out our product and engineering team to improve usability and integrate new features."
In 2014, Rocketrip saved clients $200,000 across 1,000+ round trip air and hotel segments. Much of the savings came from expected shifts in behavior such as choosing the lowest fare at time of booking, purchasing 21+ days in advance, and booking coach over business class. However, several exciting and unanticipated money-saving scenarios emerged as employees were self motivated to beat their personalized budget in order to maximize Rocketrip Rewards. Examples include:
- Booking accommodations through Airbnb
- Using personal miles to pay for flights, demonstrating that employees value Rocketrip Rewards more than their airline miles
- Purchasing bundled air/car/hotel packages
- Staying with a friend
- Choosing a train instead of a plane
"As a former Google employee, I've personally seen the benefit a reward-based travel policy offers both employees and finance departments," said Paul Buchheit, Rocketrip investor, a former Google employee and creator of Gmail. "I know the model works, and I am thrilled to be part of the Rocketrip team making this travel program available to companies and business travelers everywhere."
Divide is joining Google! We’re thrilled to announce that Divide is joining Google! Divide was founded with a simple mission: Give people the best mobile experience at work. As part of the Android team, we’re excited to continue developing solutions that our users love.
For existing customers, Divide will work as it always has. Thank you to everyone who has downloaded our app, partnered with us, invested in us and provided feedback along the way; we truly appreciate all your support.
The Divide Team
Comcast Ventures, Tribeca Venture Partners, Genacast Ventures Lead Cash Infusion
PHILADELPHIA, PA--(Marketwired - Apr 30, 2014) - LeadiD, the first neutral, privacy-friendly, trusted arbiter of lead transactions, announced today that it has raised $7M in Series A funding from Comcast Ventures and Tribeca Venture Partners. Genacast Ventures, an early-stage technology fund affiliated with Comcast, which had led LeadiD's seed funding, also participated in this round. This brings the total of funds raised since the company's inception to $9.7M. Today's announcement was initially mentioned on re/code.
LeadiD is growing dramatically. The raising of this Series A round of funding comes just a few months after the company's announcement that it had tripled both platform usage and revenue over the course of 2013. Located in Ambler, PA, just west of Philadelphia, the start-up will use new funding to grow its team and further strengthen its lead authentication technology for both buyers and sellers. LeadiD has already generated more than one billion unique LeadiDs for its 350 clients -- a list that includes major brands throughout the education, mortgage, insurance and automotive verticals.
"Online Lead Generation is a multi-billion dollar industry," said Ross Shanken, Founder and CEO of LeadiD. "But the practice of buying and selling of leads traditionally has been highly inefficient. We developed and scaled a system that allows sellers and buyers to determine the value of a lead and make purchase and resourcing decisions accordingly. This investment is the latest indication that we're moving the marketplace in the right direction." "LeadiD provides a technology that improves marketer outcomes, seller margins, and consumer experience," said Sam Landman, Principal at Comcast Ventures. "No other neutral solution like this exists at any scale, and we're excited to be backing the one with the first-mover advantage."
"Genacast Ventures looks to invest in technology companies with the potential to disrupt large, established markets," added Gil Beyda, Founder and Managing Partner at Genacast Ventures. "Lead generation is one such market that is an essential customer acquisition vehicle for thousands of businesses, large and small, around the world. LeadiD helps insure there is a growing supply of quality, performing leads and has demonstrated their ability to bring new levels of trust and transparency into the lead selling and buying process. We believe LeadiD is now an indispensible component to a healthy, thriving lead generation ecosystem."
LeadiD clients include Urban Science, eFinancial, Consumer United, and dozens of other brand advertisers. Whether on the buyer or seller side, the LeadiD technology authenticates the origin and history of every lead, providing real-time analytics that predict each individual lead's worth and efficacy. Registration for the technology is free for marketers on both sides of the transaction.
ZeroFOX Secures $11M in Series A Funding Led by NEA to Combat Social Cyber Attacks The Social Risk Management Company™ Leads the Fight Against Social-Borne Cyber Attacks by Mitigating Risk Introduced to Enterprise and Government Organizations via Social Media
BALTIMORE, MD—April 30, 2014—ZeroFOX, The Social Risk Management Company™, today announced it has secured $10.7 million in Series A funding led by New Enterprise Associates (NEA). The funding round includes a $450K non-dilutive incentive from the State of Maryland. Also participating in the round were earlier investors Genacast Ventures (a fund in partnership with Comcast Ventures), Core Capital and a number of notable security industry luminaries including Enrique Salem (Board Member at FireEye and former CEO of Symantec), Dean Drako (Founder and CEO of Eagle Eye Networks and founder, BOD and former CEO of Barracuda Networks), Michael Fey (General Manager and WW CTO at McAfee), John M. Jack (Former CEO of Fortify and currently a Board Partner at Andreessen Horowitz), Ken Levine (CEO of Verdasys and former CEO of Nitro Security), and Todd Headley (former CFO of SourceFire), amongst others, bringing total funding over the last 12 months to $13 million.
NEA is one of the largest venture capital firms in the world with a current investment fund of $2.6B. “We are very excited to join the ZeroFOX team as they work to defend against the growing problem of intelligent cyber threats,” said Peter Barris, Managing General Partner, NEA, and ZeroFOX Board Member.“The security space has not evolved at the same pace as new consumer social media tech has and we think ZeroFOX is poised to address a very critical part of security for enterprise customers. The team’s deep expertise in the security space positions them well to tackle this challenge, and we look forward to partnering with them.”
“I continue to be humbled by the support and momentum we are gathering at ZeroFOX,” said James C. Foster, Co-Founder and CEO of ZeroFOX. “Peter Barris and NEA are among the very best investors and business partners worldwide. Their confidence in our vision and our team are true testaments that we are on to something very big.”
According to the 2013 Verizon Data Breach Report, nearly 1/3 of all data breaches occurred via social as the primary attack vector. ZeroFOX is uniquely focused on this attack vector, enabling organizations to identify, manage, and mitigate the information security risks associated with employee and corporate social media usage. From targeted social-based cyber attacks to fraud, phishing, social engineering and impersonations, the ZeroFOX Platform provides real-time risk management, threat intelligence and security analytics.
“Social media and peer-to-peer communications are increasingly used as a medium for attacking individuals’ digital personas and undermining enterprise security,” said Larry Walsh, Chief Analyst at The 2112 Group. “The need for effective identification and mitigation of social-based security threats is long overdue.”
“ZeroFOX is the only organization that sits at the intersection of cyber security and social media, helping customers address the information security risks associated with social,” said Evan Blair, Co-Founder and COO, ZeroFOX. “Now, with NEA’s support we are in position to become the global brand for Social Risk Management.”
ZeroFOX was founded in January of 2013 and has collected a number of industry awards including being recognized as the CRN’s Top 10 Security Companies, 2013 Maryland Cyber Company of the Year, Winner of Chesapeake Regional Technology Council 2014 Rising Star Award, Winner of the 2013 Mid-Atlantic Venture Association Capital Connection TechBuzz show in Washington D.C., ‘Incubator Company of the Year’ for the state of Maryland in June 2013, and Baltimore Business Journal’s ‘Top 5 Cyber Companies to Watch’, ‘20 Most Promising Security Companies’ by CIO Review, and Daily Record’s ‘Innovator of the Year’.
Rocketrip Lands $2.6 Million Series A Round Canaan Partners and Genacast Ventures Invest in Next Gen Travel Management Firm to Accelerate Software and Product Development
NEW YORK, Feb. 10, 2014 (GLOBE NEWSWIRE) -- Rocketrip, the first commercially available platform to save companies money on travel expenses by rewarding employee cost-saving behavior, today announced that it has closed its first institutional round of funding. Canaan Partners led the $2.6 million Series A financing with participation from Genacast Ventures and others investors. Rocketrip has received previous funding from Genacast Ventures, Y Combinator, and angel investors.
"Legacy corporate travel systems that are designed to streamline the travel process and enforce policy, in fact create friction with employees and drive non-compliance in today's $160 billion-a-year US business travel industry. As a result, travelers often 'go rogue' as the industry calls it, and book travel outside of those systems," says Dan Ruch, Founder & CEO of Rocketrip. "Rocketrip is optimized for employees that are allowed to book travel using their website or vendor of choice, motivating cost sensitivity by rewarding employees with a percentage of the savings they generate. However, for companies with a more complex travel program and a mandated booking channel, Rocketrip can function in parallel with existing systems by motivating similar cost saving behavior."
In just three months of early pilot testing, seven Rocketrip customers saved nearly $20,000 across 100 trips. This represents a higher-than-expected 25% reduction in travel spend.
"We are pleased to have Canaan Partners and Genacast Ventures invest in our vision to reform a very broken corporate travel management process," adds Mr. Ruch. The new funds will be used to accelerate software and product development and to build out sales and client services."
"Forward-looking companies are recognizing that they can enlist their employees to help reduce spending on travel while increasing employee satisfaction on these trips. This change is happening especially fast in the mid-market," says Warren Lee, General Partner, Canaan Partners. "Rocketrip is well-positioned to take advantage of these changing corporate travel market dynamics."
"Existing travel management interfaces are obsolete; they are bulky, antiquated, take time to learn, and have increasingly diminishing value. By contrast, online travel agencies and other online booking websites provide ease of use, high availability, and lots of choice," says Gil Beyda, Founder and Managing Partner of Genacast Ventures. "I believe the corporate travel management space is starving for the kind of innovation that Rocketrip provides."
"With Rocketrip's incentive platform, companies can promote desirable cost-saving behaviors, such as advanced purchase of flights. Everyone benefits from using Rocketrip: companies cut their travel costs and get best-in-class reporting on travel spend and behavior, and employees earn rewards for booking cost-effective trips," says Gillian Tee, Rocketrip Co-Founder and Head of Product and Technology.
Rocketrip (http://www.rocketrip.com) is the first commercially available travel management platform to save companies money on travel expenses by motivating employees to become willing and enthusiastic partners in cost savings. Rocketrip's algorithms integrate a company's travel policy with real-time trip pricing and availability to create a personalized Smart Budget for each trip. Employees are set free to book using their favorite travel websites. The company rewards employees for booking under budget by sharing a percentage of the savings in the form of cash and gift cards. Rocketrip, based in New York City, provides employers with insights and analytics on company spending, savings and employee travel behavior, giving them the ability to optimize their travel policy and rewards program.
YieldMo Closes $8 Million in Series B Financing to Expand its Premium Mobile Advertising Platform Google Ventures joins existing investors including Union Square Ventures and Genacast Ventures in new financing round
(New York, NY) December 5, 2013 -- YieldMo, a technology company rethinking mobile advertising for publishers and marketers, today announced its Series B financing round led by Google Ventures. YieldMo raised $8 million in its latest round, with full participation from existing institutional investors including Union Square, Genacast, Rhodium, Dace Ventures and ff Venture Capital. The company has raised $12.1 million to date.
Using YieldMo’s technology, marketers can purchase high quality ad placements in consumer-friendly formats on mobile pages and apps of premium publishers. The ad placements typically appear on 100% of the publisher’s mobile inventory and allow for an incomparable level of testing and optimization using machine learning and predictive analysis. YieldMo has consistently delivered best-in-class metrics for publishers and marketers, and will use the new funding to continue building unparalleled technology infrastructure and adding more premium publishers and advertisers to its platform.
Michael Yavonditte, CEO of YieldMo commented, “Premium publishers need a flexible way to monetize the massive shift in traffic from desktops to mobile devices. Publisher business models are threatened if they cannot find a way to replace the revenue. Marketers need a platform with formats and transparency that allows for proper testing and optimization over time and that provides a reliable ROI. Consumers visiting premium publishers on their personal mobile devices want to see ads they can read without being interrupted. We created YieldMo to solve these problems for each of these constituencies in a balanced way.”
“In mobile, one of the big challenges is developing compelling ad formats that work on small screens, and YieldMo has created a format that is incredibly appealing,” said Rich Miner, General Partner, Google Ventures. “I was impressed that YieldMo’s adaptive ad format and platform were performing so well that publishers were opening up premium inventory.”
YieldMo was founded in 2012 by Michael Yavonditte, Teddy Jawde, Todd Coleman and Rick Eaton. The founding team previously built Quigo Technologies, a Web advertising company that was acquired by AOL in 2007. YieldMo’s system addresses prevalent issues of privacy and effective targeting with mobile in mind. YieldMo is distinct in that it deals only with premium publishers, does not require user tracking or targeting and enables both publishers and marketers to showcase and optimize their brands in order to yield their due share.
About YieldMo YieldMo is rethinking mobile advertising to optimize yield for publishers, ROI for marketers and the experience for consumers. YieldMo’s Premium Private Platform for Mobile enables marketers to purchase high quality non-banner ad inventory in consumer-friendly ad formats on the mobile pages and apps of premium publishers. YieldMo was founded in 2012 by Michael Yavonditte, Teddy Jawde, Todd Coleman and Rick Eaton. The founding team previously built Quigo Technologies (acquired by AOL in 2007). The company has received funding from top-tier investors including Google Ventures, Union Square Ventures, Genacast, Rhodium and Dace Ventures. YieldMo is headquartered in New York, NY. To learn more please visit yieldmo.com.
BYOD specialist Enterproid raises $12 million led by Google Ventures; will do business under the Divide name Funding will fuel growth and enable Divide to invest in partnerships
NEW YORK, Oct. 8, 2013 /PRNewswire/ -- Enterproid, developers of Divide™, the secure mobile platform, announced today it has secured $12 million in Series B funding led by Google Ventures and will now conduct business under the Divide name. The latest investment -- which includes participation from existing investors Comcast Ventures and Qualcomm Incorporated, through its venture capital arm, Qualcomm Ventures, as well as new investors Globespan Capital Partners and Harmony Partners -- brings Divide's total funding to $25 million.
Divide, which was founded in 2010 to provide an innovative no-compromise BYOD solution, will use the investment to accelerate its growth and capitalize on key partnerships with companies such as IBM, Vodafone, Verizon and Tangoe. Since its launch, Divide has been downloaded more than 200,000 times by consumers and professionals through the Apple App Store and Google Play. The Divide platform is seeing even faster growth among corporate clients, with a more than 10 fold increase in paid licenses so far this year. Divide sells to hundreds of customers including some of the world's largest financial, healthcare and technology companies as well as federal agencies and small and medium-sized businesses.
"Divide provides a simple, secure and standardized solution for BYOD that is unique in its ability to win over both IT decision makers and employees," said Divide CEO Andrew Toy. "We're taking this opportunity to embrace the Divide name, which best embodies the work we do in securing business data on employee-owned devices. Our mission has resonated with hundreds of enterprises looking for a better mobility solution for solving BYOD."
Divide, available on iOS and Android as a free app or with an enterprise subscription, offers an encrypted workspace container on employee devices that keeps business data and apps separate and secure from the personal side of the device. Corporate customers can manage Divide through the cloud-based Divide Manager console or through select mobile device management (MDM) partners. Divide also offers the industry's first customized container, allowing businesses to extend their brand to mobile devices.
"With the changes in the mobile landscape, enterprises are looking for a way to transform today's smartphone into an enterprise-ready mobile device," said Rich Miner, General Partner at Google Ventures. "Divide delivers a fully functional smartphone experience, while adding all the security, policy enforcement, manageability and core apps you'd expect from a best-in-class enterprise mobile platform."
Divide delivers easy, secure enterprise mobility, enabling organizations and individuals to get the most out of mobile technology and corporate BYOD policies. Divide offers a secure container solution that includes cloud-based management with advanced on-device technology for enterprise security and control without compromising personal freedom and privacy. Founded by former mobile executives and engineers from Morgan Stanley, Divide is headquartered in New York, with offices in London and Hong Kong. Divide investors include Google Ventures, Comcast Ventures, and Qualcomm Ventures. Learn more by visiting our website, or by following @divide on Twitter. Divide can be downloaded for free from Google Play and the Apple App Store.
Investment Supports New Products, New Markets and Expanded Team as Lead Gen Industry Embraces Lead Authentication Standard Philadelphia, PA (PRWEB) August 13, 2013
LeadiD, the first neutral, privacy-friendly, trusted arbiter of lead transactions, today announced that it has raised an additional $1 million in capital from Philadelphia-based Genacast Ventures, lead investor in LeadiD’s initial $1.7 million seed-stage investment. The investment supports the company’s growth trajectory and is a strong validation of both its business model and the growing adoption of the LeadiD authentication standard in multi-billion consumer verticals such as education, mortgage, insurance and short-term loans. LeadiD will use the new funds to expand its team, accelerate product innovation and continue to drive market adoption.
“LeadiD’s significant achievements and momentum over the last year are clear indications that we are building a breakout business and defining a new market,” said Ross Shanken, LeadiD CEO. “LeadiD is becoming the de facto standard for bringing both lead buyers and sellers together because our technology platform empowers a neutral and trusted transaction. This investment will enable us to sustain our outstanding momentum with new talent, expanded footprint and aggressive technology innovation and product enhancements.”
“Ross and his team have built a market-transforming company with a disruptive technology that is solving the lead gen industry’s biggest challenges,” said Gil Beyda, Founder and Managing Partner of Genacast Ventures. “Our support enables LeadiD to rapidly expand its reach and underscores our commitment to continue to support breakthrough technology.”
This new development builds on company’s early success in forming strategic partnerships with industry leaders to facilitate seamless adoption by lead buyers. Earlier this year, the company launched LeadiD Marketplace, a single source for best-in-class marketing solutions that support the LeadiD standard. Solutions in LeadiD Marketplace are fully integrated with LeadiD, and are offered ‘on-demand’ for rapid implementation, enhanced results and increased ROI.
A few short weeks ago, the company also reached another major milestone with the unveiling of the LeadiD TCPA Compliance app. The app provides organizations a way to obtain and demonstrate definitive confirmation that the proper TCPA (Telephone Consumer Protection Act) disclosures were present during the lead event and that the consumer did in fact provide express consent. The LeadiD TCPA app is the first truly scalable TCPA app because it doesn’t require disruption of dialer operations with manual screen shot review, thereby preserving an organization’s speed-to-contact advantages. LeadiD also commissioned a white paper and checklist addressing TCPA concerns in the online media sector. The firm has also been recognized by industry peers for significant achievement and was named winner of the coveted Most Innovative Company award in the 2013 LeadsCouncil LEADER Awards program.
Founded in January 2011 by Ross Shanken, LeadiD is the only independent, neutral, open technology platform, which tracks the origin and history of every lead event that utilizes the LeadiD system. No supplier-proprietary data is exposed, but rather, LeadiD allows Lead Sellers and Lead Buyers to make real-time decisions based upon definitive origin and history flags that are predetermined. LeadiD fosters an environment of trust in the transaction, one where both Lead Sellers and Lead Buyers alike derive top-line value. With unmatched data, LeadiD is the industry standard for authenticating lead origin and history and the authentication platform of choice for firms of all sizes. For more information, visit LeadiD.com. @LeadiD
About Genacast Ventures
Genacast Ventures (http://www.genacast.com) invests in Internet technology entrepreneurs with a vision and passion for forging new markets or disrupting old ones. Established in 2008 as a partnership between serial entrepreneur Gil Beyda (Real Media and Tacoda) and Comcast Ventures, Genacast’s commitment to helping exceptional entrepreneurs build great companies is already experiencing success with its first investment Invite Media being acquired by Google and its second investment Demdex being acquired by Adobe. Current portfolio companies include DoubleVerify (online advertising), PackLate (travel), Enterproid (mobile), Mortar Data (big data), LeadiD (lead generation), YieldMo (mobile advertising), Rocketrip (corporate travel) and Riskive (security). Genacast invests up to $1M in 3-4 seed-stage start-ups each year.
Cloud-Based Security Platform Provides Real-Time Threat Identification & Prevention; Protects Enterprise Organizations from Social Cyber Threats BALTIMORE, MD—July 23, 2013—Riskive, the Social Risk Management company, today announced it has secured $2.2 million in seed funding from Genacast Ventures (a fund formed in partnership with Comcast Ventures), Core Capital and a world-class group of individual investors. Riskive protects government and enterprise organizations from the next generation of security threats: Social Cyber Threats.
Angel investors participating in the round include Frank Bonsal (Founder of NEA) and serial entrepreneurs Greg Cangliosi, Bill Boyle and Andrew Eye, amongst others. Social Risk Management is emerging as the next great security challenge for organizations which are being continually breached by a myriad of experienced attackers and hackers. Riskive’s cloud-based technology platform is currently deployed in beta and leverages predictive analytics to protect against advanced cyber threats in multiple government and enterprise organizations.
“Social network technology and social media has proliferated into every aspect of business as well as our personal lives,” said James C. Foster, CEO and Founder of Riskive. “Deploying a security solution based on predictive analytics to prevent attacks before they happen is the new standard for security. It’s critical for organizations to understand the potential for malicious threats to invade into the core of a business via social streams. This type of invasion puts every aspect of a business at risk and has the capacity to entirely shut down an organization. With Riskive, organizations now have a constant ally to alert them in advance of these attacks.”
Riskive has assembled a proven team of over 12 security experts. This quickly growing team is continuing to enhance Riskive’s proprietary cloud-based technology platform that is dedicated to identifying, monitoring and preventing risk across the socially connected enterprise. Riskive’s security technology allows for real-time protection of users, applications and social brand assets.
“Riskive brings a first-mover advantage to the market because it identifies social-based threats before they have the opportunity to inflict serious damage,” said Gil Beyda, Founder and Managing Partner at Genacast Ventures. “Foster and Evan have worked together before and they have a proven track record. As enterprises embrace social media more and more, business entities are actively being targeted for their intellectual property. Riskive’s ability to protect against current threats – as well as its advanced threat detection capabilities against future attacks – is a very compelling value proposition for us and will be critical for this emerging market.”
“The ‘social enterprise’ era has arrived,” said Mark Levine, Managing Director, Core Capital. “Facebook, Twitter and LinkedIn are just a few of the great social tools that have emerged as a new vector leveraged by cyber criminals. Riskive was an attractive investment opportunity because of the technology, the team and tremendous advisory board its assembled to fight against this emergence of social threats against not only consumers, but business and government entities.”
Mission to Research & Develop Innovative Defense Technologies
“Our mission is to research and create innovative defense technologies aimed at protecting businesses and platforms throughout all social media platforms and channels,” said Evan Blair, Chief Operating Officer and Co-Founder of Riskive. “To prevent the next generation of cyber threats, we are determined to empower organizations with the ability to react before cyber attackers ever launch an attack.”
Riskive was selected as the winner of the 2013 Mid-Atlantic Venture Association Capital Connection TechBuzz show in Washington D.C., besting over 300 other early-stage companies. Additionally, Riskive was also named the ‘Incubator Company of the Year’ for the state of Maryland in June 2013.