FinTech companies continue to rake in eye-watering figures, with some of the biggest rounds coming from the cryptocurrency sector. The 41 companies to close investment rounds this week collected a total of $2.2bn.
The cryptocurrency market led the way in funding last week, with some big ticket rounds in the sector. The most notable was cryptocurrency exchange platform FTX Trading, which secured a staggering $400m in Series C funding, propelling it to an impressive $32bn valuation.
The cryptocurrency market has had a strong start to 2022. Last month, iTrustCapital earned unicorn status after it closed its Series A on $125m, which was its first external investment.
This week, Cryptocurrency exchange Rain collected $110m and crypto tax solution CoinLedge netted $6m.
Research by app analytics and marketing platform App Radar revealed that 2021 was a red-letter year for cryptocurrency app downloads, with 82.9m made on Google Play alone.
App Radar managing director and co-founder Thomas Kriebernegg said, “We’re getting closer and closer to crunch time for crypto apps. More people are taking investing and owning cryptos and NTFs more seriously, so the battle is on to be their preferred wallet or trading platform. And given the digital nature of crypto, the centre stage for that battle is people’s phones.”
Here are the 41 funding rounds from last week.
FTX Trading bags $400m in eye-watering Series C
The round brought the cryptocurrency exchange platform to a $32bn valuation.
Commitments to the round came from Temasek, Paradigm, Ontario Teachers’ Pension Plan Board, NEA, IVP, SoftBank Vision Fund 2, Lightspeed Venture Partners, Steadview Capital, Tiger Global and Insight Partners, as well as others.
FTX is a cryptocurrency exchange that offers derivatives, options and volatility products, tokenised stocks, prediction markets, leveraged tokens and an OTC desk.
With the support of the capital, FTX will continue working with regulators to support access to digital assets in a safe and compliant manner.
Chargebee creates buzz with $250m funding
Subscription management platform Chargebee boosted its valuation to $3.5bn with the funding.
The financing was co-led by venture capital firms Tiger Global and Sequoia Capital and saw participation from Insight Partners, Sapphire and Steadview Capital. The investment comes nine months after its $125m raise in April 2021, which brought the company’s valuation up to $1.4bn.
The company automates the entire revenue lifecycle for over 4,000 subscription-based businesses.
According to Chargebee, the funding from the latest raise will go towards developing new products, expanding into new markets and territories alongside its new offices and investments in Australia and India.
Challenger bank KOHO secures C$210m ($165m)
The round was led by Eldridge and saw participation from Drive Capital, TTV Capital, BDC, Round13 and HOOPP.
KOHO is a mobile banking app that gives users a Visa debit card and insights on their money. The company said it intends to use the new investment to accelerate growth, expand into new product verticals and increase headcount from 250 to 400.
This recent round continues a strong period for the Canadian firm, after it previously raised $70m from a Series C round in March 2021. Prior to this, the company secured $25m in funding in December 2019.
Wayflyer becomes Ireland’s latest unicorn
The revenue-based financing and growth platform for e-commerce businesses landed $150m in Series B funding, bringing its valuation to $1.6bn.
The round was co-led DST Global and QED Investors, with existing investors Left Lane Capital and Guillaume Pousaz (Checkout.com founder) participating. Wayflyer also welcomed new investors Prosus, Madrone Capital Partners, and J.P. Morgan.
The company explained that even though the global e-commerce market is experiencing rapid growth, expecting to hit $5trn this year, financial and supply chain ecosystems are still “playing catch up.”
This latest investment, Wayflyer said, will enable it to shape a new ecosystem for e-commerce, by offering flexible funding options and the best rates.
ICEYE lands $136m for NatCat solutions
IECYE is an expert in natural catastrophe (NatCat) solutions. The Series D round was led by long-standing investor Seraphim Space. New strategic investors to ICEYE also included BAE Systems and Kajima Ventures.
Also participating in the round was Molten Ventures, OTB Ventures, True Ventures, C16 Ventures, Chione Ltd, Services Group of America, the UK’s National Security Strategic Investment Fund (NSSIF), Space Capital and Promus Ventures. Morgan Stanley & Co served as placement agent for the transaction.
With this round, ICEYE has raised a total of $304m in financing since 2015. ICEYE owns and operates the world’s largest constellation of SAR satellites and the company has successfully launched 16 satellite missions in total since its first-ever spacecraft was placed into orbit only four years ago.
Betterfly raised $125m, becomes first Latin American social unicorn
Glade Brook Capital led the Series C round, with commitments also coming from Greycroft, Mundi Ventures and Lightrock. QED Investors and DST Global Partners, which led Betterfly’s Series A and B rounds, respectively, also joined the fresh investment.
Betterfly is hoping to continue its mission for helping “social conscious businesses”. The platform offers products aimed at helping charities around the world, but it also offers personal wellbeing, including general practice consultations, gym memberships, mental health support, meditation, wellbeing education and access to investment options, including mutual funds and pensions. It also offers insurance services.
With the capital, the company plans to launch in Mexico, Colombia, Argentina, Peru, Ecuador, Panama and Costa Rica. Next year, Betterfly is eyeing the US, Portugal and Spain markets. Betterfly also said it plans to release new products.
Climate change focused Descartes Underwriting secures $120m
The investment was led by growth equity firm Highland Europe, with commitments also coming from Serena, Cathay Innovation and Blackfin Capital Partners. Seaya Ventures and Mundi Ventures also joined the round as new investors to Descartes.
Descartes Underwriting said it is helping insurers address climate and emerging risks.
With the capital injection Descartes plans to scale its approach to corporate and public entity risk exposures. Funds will also help grow its technology platform, expand into new lines of business and further its global expansion efforts.
Cryptocurrency exchange Rain collects $110m
The investment was co-led by Paradigm and Kleiner Perkins, with commitments also coming from Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures, JIMCO and CMT Digital.
Founded in 2019 by Abdullah Almoaiqel, AJ Nelson, Joseph Dallago and Yehia Badawy, Rain helps consumers buy, sell and store approved cryptocurrency.
With the capital, Rain plans to expand its licensing into other countries in the region, hire more staff and enhance its technology.
Crypto wallet Phantom bags $109m
Existing Phantom investors, a16z, Variant, Solana Ventures and Jump Crypto also joined the Series B round.
The company has three core areas for growth with this funding. The first is to onboard users and developers to Web3, to help users find decentralised applications and offer tools to improve the developer experience. Secondly, the company will innovate on the multi-chain wallet experience, as it looks to extend the capabilities of what crypto wallets can do.
Finally, it plans to hire more staff to its team, with a particular focus on its product development and community support units.
PlexTrac secures $70m for cybersecurity
Also taking part in the Series B funding round were existing investors such as Madrona Venture Group, StageDotO Ventures and Noro-Moseley Partners. Back in April 2021, PlexTrac bagged $10m from a Series A round.
Founded in 2016, PlexTrac is a cybersecurity platform that centralises all security assessments, penetration test reports, bug bounty submissions, audit findings and vulnerabilities into a single location.
SoftBank backs Tribal in $60m Series B
The B2B payments and financing platform secured the funding from SoftBank’s Latin America fund, as well as Coinbase Ventures, BECO Capital, QUD Investors, Rising Tide, Third Prime, Acuity Ventures, Canas Capital and AGE Fund.
Founded in 2016, Tribal provides corporate cards and financial solutions to help power startup growth in emerging markets. The company launched its beta spend management platform to customers in 2019.
According to Tribal, to support its growing customer base in over 22 countries and its rapid expansion across LatAm, it will use the most recent funds to continue building its local teams in Brazil, Mexico, Columbia, Peru and Chile.
Pennylane collects €50m Series B
The FinTech company, which was launched in 2020, provides businesses with an all-in-one financial platform. Its technology helps automate the collection and management of supplied invoices, automate reminders and manage cash flow in real-time.
The Series B investment was supported by partech, Global Founders Capital and Sequoia. Proceeds from the round will help Pennylane further the development of new features, build new integrations and improve the user experience.
Additionally, the company will hire 200 development, data and product specialists.
Pennylane previously raised $18m (€15m) in funding back in July 2021. The capital was supplied by Sequoia Capital, Global Founders Capital and Partech.
Colombian PayTech Bold lands $55m
Tiger Global Management served as the lead investor in the Series B round, with commitments also coming from General Atlantic and Endeavor Catalyst. Existing Bold investors Piton Capital, GFC, InQLab, Kingsway Capital, Solid Ventures, Grupo Auteco, Amador and Condor Inverlink also committed capital to the round.
With the funds, the FinTech company plans to expand its product and service offering into adjacent financial services for merchants. This growth includes tools for working capital financing, lending, deposit accounts, debit and credit cards.
Founded in 2019 by José Vélez, Ana María Sandoval, Enríque Ramírez, Jorge Ulloa, and Sergio Vergara, Bold is a merchant acquirer with the mission of promoting financial inclusion in Colombia.
It serves small and medium-sized businesses, providing them with low-cost payment terminals that can accept link payments and other local payment methods. The solutions can be implemented within minutes and have no point-of-sale fees.
HackerOne snares $49m in Series E
The round was led by GP Bullhound, and also saw participation from Benchmark, Dragoneer Investment Group, NEA and Valor Equity Partners. Following this round, HackerOne has raised a total of $160m since inception.
HackerOne gives organisations access to the largest community of hackers on the planet. The platform claims it has the most robust database of vulnerability trends and industry benchmarks available.
According to HackerOne, it will use the new investment for research and development as well as to expand its go-to-market operations.
Talon Cyber Security claws in $43m
The investment was backed by Sorenson Ventures, Evolution Equity Partners, Lightspeed and Team8. Several angel investors also contributed to the round, including CrowdStrike CEO George Kurtz, Armis co-founders Yevgeny Dibrov and Nadir Izrael and Fireblocks co-founder & CEO Michael Shaulov.
With the capital injection, Talon plans to accelerate its commercialisation process and expand the development efforts to support high market demand. In under a year, the company has added 45 people to its team.
Talon claims to be mitigating two of the biggest cybersecurity issues for distributed workforces, ransomware and insider threats. It combines advanced data isolation techniques, such as screenshot prevention and clipboard restrictions, with workplace security, including policy enforcements and protection against browser vulnerabilities.
France-based Pretto secures €30m
The Series B capital was supplied by Serena, Eurazeo and Orange. With the capital, Pretto plans to accelerate its growth initiatives, as well as hire more staff.
The FinTech company offers an online real estate comparison platform to help consumers simplify the mortgage process.
Serena Principal Sébastien Le Roy said, “Despite the Covid, the real estate market is in hypergrowth. Obtaining a mortgage remains a long and stressful process, which lacks transparency. We are very proud to support Pretto, the French leader in online mortgage lending. We were very impressed with their vision and exceptional speed of execution. They are profoundly changing the mortgage market, making it simple and fair for everyone.”
180° Seguros lands biggest InsurTech Series A in Brazil
The Brazilian InsurTech startup raised $31.4m, in a round led by 8VC. The round also saw participation from Dragoneer, Monashees, Atlantico, Quartz and Norte.
Founded in 2020 by Mauro Levi D’Ancona, Alex Körner and Franco Lamping, the company operates a B2B2C model that helps companies sell insurance products digitally. 180° Seguros analyses each distribution channel to uncover opportunities to create unique products in the customer journey.
With the capital, the company hopes to expand its team of 50. It will also look to create joint ventures and expand the number of strategic partnerships it has with startups, retailers and companies that are looking to add digital insurance experiences.
Parsyl raises $25m for supply chains
Parsyl said it is redefining insurance for the $4tn of perishable food and pharmaceuticals shipped annually by using granular supply chain data to identify and manage risk and reduce waste of essential goods.
The round was led by HSCM Ventures, as well as Lineage Ventures, the technology investment arm of Lineage Logistics, Flexport Ventures, several executives from the insurance and perishable food industries, and existing investors GLP Capital Partners and Luna, the investment fund of Lucy Ana Walton.
Simultaneous with the funding, Parsyl is launching a US-based Managing General Underwriter (MGU). Parsyl also is expanding the scope of its impact-focused syndicate at Lloyd’s of London, Syndicate 1796.
Tint to empower tech platforms to become insurers
Tint, the platform that aims to empower companies to protect their end-users through embedded insurance products, has raised $25m in Series A funding.
The round was led by QED Investors, with participation of existing investors Nyca, Deciens, Y Combinator, and Webb Investment Network. This round follows the company’s $3.75m seed round raised in March 2021 and brings the total capital raised to $30m.
With this new funding, Tint plans to expand its remote-first team from 20 members to over 100, with a focus on growing its product, engineering, and sales teams. Additionally, Amias Gerety of QED Investors will join Tint’s board of directors.
Portnox snaps up $22m
The Series A funding round was led by capital market firm Elsewhere Partners and will help the company expand.
Founded in 2007, Portnox has developed a cloud-native NAC platform that enables users to quickly implement powerful network access control as well as endpoint risk posture assessment and remediation policies that can be enforced automatically across various sites.
According to Portnox, it plans to use the funding to substantially expand its team and speed global market penetration with a focus on mid-market organisations after establishing its new global headquarters in Austin, Texas. The firm noted the primary focus for the North American expansion will be building out the operations, marketing, sales and customer success teams.
FloatMe raises $16.2 Series A
According to FloatMe, it has helped save Americans $80m in overdraft fees since it launched in March 2020. Since then, it has added 45 employees and significantly grown its member base.
This latest round was led by Foundry Group and saw participation from ManchesterStory, Samsung Ventures, Active Capital and a range of angel investors.
FloatMe said the funding will help support the expansion of its team, products, services as well as continuing to help build the FloatMe community.
OpenGamma raises $21m on mission to transform treasury within financial markets
The round was led by Allianz X, the investment division of insurance giant Allianz. All OpenGamma’s existing investors contributed to the round.
OpenGamma helps asset managers and other professional financial market participants to increase the capital efficiency of their portfolios, particularly with posting collateral in derivative transactions.
Its features include sophisticated margin replication, balance reconciliation, daily reinvestment recommendations, Financing and stock borrow optimisation, FX exposure management and more.
Funds from the round will help OpenGamma expand its offering, including the release of automated workflow solutions for the treasury management of asset managers and other financial participants.
Nigerian startup Bamboo lands $15m
According to a report from Disrupt Africa, Motley Fool Ventures, Saison Capital, Chrysalis Capital and Y-Combinator’s Michael Seibel, and others, also participated in the Series A round.
Launched in January 2020, Bamboo is an investment platform that unlocks global markets for Africans by providing real-time access to dollar-denominated assets via its platform. Users can fund with their dollar or local currency balance almost instantly and start investing in stocks.
Based in Lagos, Nigeria, the company closed its seed round in the first quarter of 2020 on $150,000, led by Rebel Fund and Y Combinator.
Bamboo reportedly plans to use the Series A funding to accelerate its growth, doubling down on unlocking new markets and launching more products. Since the company announced plans to launch in Ghana in April 2021, more than 50,000 Ghanaians have joined the waitlist.
Ayoconnect to “bank the unbanked” with $15m raise
The Series B funding round was joined by PayU, the payments and FinTech business of Prosus, and Alto Partners, as well as individual strategic investors, including Plaid co-founder William Hockey and Jerry Ng, president commissioner of Bank Jago.
The Southeast Asian open finance platform raised $10m in Series B funding towards the end of 2021.
Ayoconnect’s stack is divided into two main areas. On the embedded finance side, Ayoconnect helps companies of any size launch financial products using APIs such as phone top-up, utilities payments, embedded insurance, and auto-billing. Banking-as-a-service APIs provide account opening, disbursement, credit, investment, savings, and other capabilities.
Ayoconnect said it will use the funds to satisfy increasing customer demand for more products and use cases. Ayoconnect said it is already the largest open finance platform in Indonesia, with more than 200 API customers and 4,000 embedded finance products.
Circula rides expense management wave with €12m
The company secured financial backing in a Series A round from Alstin Capital and Storm Ventures.
Founded in 2017, Circula claims it is merging expense management, payments and employee benefits to create the first truly employee-centric software-as-service product in Europe.
The firm provides mid-sized and larger corporate firms with an employee finance app that combines digital expense management, a smart corporate credit card and employee benefits.
According to Circula, it intends to use the new funding to grow its team from 50 to 120 employees, further develop its product and enter new European markets, with the Netherlands set to be the first later this year.
Insurer Stubben Edge reels in £10m
The round included firms such as Lloyd’s Names and a range of institutional investors.
The UK-based InsurTech said it is ‘revolutionising’ insurance distribution by providing a digital platform where distributors, brokers and IFAs can start, run and grow their businesses.
Stubben added it had embarked on an ambitious growth strategy including selective M&A activity – like its recent purchase of cash management firm Akoni Hub – and will target the funds to continue providing the best selection of services to brokers and IFAs who want to start and grow their own firms.
Moss closes $10m Series A
The round was led by SP Ventures and Acre Venture Partners and saw participation from Jive, Flori, Arrington Capital and The Craftory.
Moss has helped lead the transition to web 3.0 in carbon markets through the tokenisation of Amazon rainforest carbon credits. The firm claims through its efforts, large corporations and individuals have acquired over $26m in carbon credits in the last 18 months.
Moss’s tokenised carbon credit – the MC02 – has been listed on the world’s largest crypto exchanges such as Gemini, Coinbase and Mercado Bitcoin.
Parallel Markets collects $7m
Union Square Ventures served as the lead investor in the $7m round, with commitments also coming from Comcast Ventures, Eniac Ventures, Lux Capital, RiverPark Ventures and Supernode Ventures. As part of the deal, Union Square partner John Buttrick will join the Parallel board of directors.
Parallel Markets flagship solution is Parallel Passports, a portable digital identity solution that handles KYC, AML, customer due diligence and investor accreditation requirements. Tens of thousands of investors are using this technology across 50 financial institutions.
With the capital, the identity software developer company plans to issue the world’s first regulatory-compliant on-chain identity token. It also plans to give users greater control to the access of sensitive identity data.
Pluto closes $6m seed round
The corporate spend management solution said it is striving to become the market leader in the Middle East.
US-based spend management platform Ramp also joined the round, alongside Airbase founder Thejo Kote, Plaid co-founder William Hockey, Not Boring’s Packy McCormick and MFM’s Shaan Puri.
With the fresh funds, the company plans to hire more staff, secure bank partnerships and licenses. It also has international growth plans, including the launch of its services in the UAE and Saudi Arabia. In the future, Pluto hopes to release its product in Egypt, Pakistan and Bangladesh.
CoinLedger secures $6m for crypto tax solutions
The investors in the round include CMT Digital, DRW Venture Capital, FinTech Collective, Volt Capital, Voyager Digital, Bakkt co-founder Adam White and The Block founder Mike Dudas.
Founded in 2018, CoinLedger was created to reduce frictions within the crypto market by simplifying asset tracking and tax reporting. Its services support Cryptocurrency, DeFi, NFT and Web3 users.
With the funds, the FinTech company hopes to hire more staff and expand its product offering. Its flagship solution, CryptoTrader.Tax, integrates with hundreds of exchanges, wallets and blockchains to give the user a holistic view of their crypto portfolio and tax obligations.
RegTech NVISIONx closes seed
NVISIONx, which claims to be one an industry-first data risk intelligence platform, has raised $4.6m in seed funding.
Companyon Ventures led the round, with commitments coming from Morgan Stanley Next Level Fund, SixThirty Ventures, Gaingels, Gutbrain Ventures, PBJ Capital and CreativeCo Capital.
With the funds, the company plans to enhance its market presence, hire more staff and further the development of its technology. NVISIONx said it experienced strong growth in 2021, which includes onboarding Facebook and Platform Science as clients.
Pixm in oversubscribed seed
Anti-phishing software Pixm raised $4.3m in a round led by Gula Tech Adventures. Commitments also came from FirstIn, AIM13 – Crumpton Ventures Partnership, Chaac Ventures and Precursor Ventures.
With the capital, Pixm plans to further the development of its computer vision technology.
Phishing remains one of the most common cyberattacks. While clicking bad links in emails are often considered the primary cause for breaches, Pixm’s 2021 Strategic Security Survey found that over 50% of phishing breaches occur through social media.
To combat this risk, Pixm utilises advanced computer vision technology to identify and stop targets spear phishing attacks. Clients can easily deploy the technology to an unlimited number of devices within minutes. It is also able to protect devices through apps, including Facebook, WhatsApp and LinkedIn.
Lemonedge squeezes $4m
Low-code accounting platform LemonEdge has bagged $4m from a funding round led by Blackstone Innovation Investments.
The round also saw participation from Sidekick Partners, Lauren Iaslovits and Tikhon Bernstam. Following this raise, LemonEdge has raised a total of $7m since inception.
LemonEdge claims it enables private capital firms to automate and digitise their end-to-end complex accounting processes. The company added it combines a financial engine alongside a customisable low-code platform with a suite of advanced reporting and scenario tools.
Passage arises from stealth with $4m
The investment round was led by LiveOak Venture Partners and saw participation from Next Coast Ventures, Secure Octane and a range of angel investors.
According to Security Week, Passage is developing a platform that allows application developers to add passwordless authentication functionality with only a few lines of code.
The platform uses biometric systems such as Face ID, Touch ID and Windows Hello and falls back to magic links when biometrics are not available. This platform has launched as a public beta version alongside the funding.
Casava lands $4m in pre-seed
Nigeria-based InsurTech Casava has raised $4m in pre-seed funding on its mission to provide affordable income insurance.
According to a report from Disrupt Africa, the round was led by Target Global with participation from Entrée Capital, Oliver Jung, Monzo founder Tom Blomfield and Stash founders Ed Robinson and Brandon Krieg. African founders such as Uche Pedro (founder of BellaNaija), Babs Ogundeyi and Musty Mustapha (co-founders of Kuda), Shola Akinlade (co-founder of Paystack), Olugbenga “GB” Agboola (co-founder of Flutterwave), Honey Ogundeyi (founder of Edukoya), Opeyemi Awoyemi (co-founder of Jobberman), and others also participated in the round.
With Casava’s income protection product, subscribers can insure their income with a subscription that starts from as little as $1 a month, and get paid monthly for six months if they lose their job, fall sick or become disabled. Subscribers can also add on Casava Health, which enables access to more than 1,000 doctors on telemedicine and 900 hospitals across Nigeria.
Fiat Republic bags $3.5m
The company is building a compliance-first, e-money regulated banking and payments API.
The round saw participation from Speedinvest, Seedcamp and Credo. Fiat Republic said it is looking to drastically reduce the time and cost of processing fiat currencies for crypto platforms both at the individual consumer and corporate treasury levels.
To address the issue of crypto platforms still struggling to access traditional transaction banking services, Fiat claims it is elevating the now established banking-as-a-service business model and incorporating fiat and crypto compliance at its core to provide crypto platforms with the much-needed access to mainstream and local payments networks in Europe and beyond.
The company is also developing a consortium of crypto platforms in order to get strong representation with regulators in order to lead standard-setting for the asset class and change its perception amongst traditional financial institutions.
According to Fiat, the money will be used to bolster its team and to accelerate acquiring regulated status in the UK and the EU.
AaDya Security raised $3.1 for expansion
Companyon Ventures led the round, with commitments also coming from Gutbrain Ventures, PBJ Capital and Gaingels. Existing AaDya Security investors also joined the round, including Firebrand Ventures, NextCoast Ventures and Invest Detroit.
Founded in 2019 by Raffaele Mautone, its Judy platform features a user-friendly, browser-based interface with secure single sign on and a password manager to protect credentials and allow users to access applications safely and easily.
With the capital, AaDya Security plans to hire more staff for its marketing, sales and product teams, as it looks to accelerate its customer growth and service offering. Funds will also help the CyberTech company launch Judy 3.0, a streamlined version of its all-in-one cybersecurity platform.
Finverity lands $2m
Finverity is a mid-market supply chain finance platform focused on emerging markets. Investors in the Series A round included MENA-based B&Y Venture Partners and Canadian-based Loyal VC, an emerging market family office and a number of strategic angel investors.
Finverity was founded with the vision to “make the global financial system work for all, one product at a time.” The company is striving to bridge the $1.7bn global trade finance gap, which reflects the shortfall between the amount of trade finance currently being provided and global trade financing needs.
The company said it is addressing the gap by channelling capital and addressing the supply chain finance (SCF) needs of mid-market companies in emerging markets, which make up the bulk of the gap, according to Finverity.
Saas management platform NachoNacho secures seed funding
The $3m investment round was led by AltaIR Capital, with commitments also coming from Moving Capital (Uber Alumni), PMC, s16vc and others.
NachoNacho was founded to solve troubles around handling businesses and SaaS vendors in the subscription economy. It claims buyers waste time and money finding vendors, while the vendors are having to increase acquisition spend.
The NachoNacho platform was built to help firms manage and buy SaaS, and help vendors quickly find customers.
Supply Wisdom collects funding for risk management
The funding was led by Fulcrum Equity Partners, with commitments also coming from Florida Funders.
Supply Wisdom is an ai-powered risk management solution that is aimed at the third-party and supply chain intelligence space. It does this by continuously monitoring the widest risk aperture in the market.
It claims that unlike other solutions, its platform lets enterprises assess all risk domains within their supply chain, including financial, cyber, operations, ESG, people, location, compliance, and Nth parties – in real time.
With the capital, Supply Wisdom plans to expand across verticals and geographies.
Google Cloud backs Lacework
The size of the investment in the data-driven cloud security company was not revealed.
Lacework’s Polygraph Data platform provides automated anomaly detection for Google Cloud’s trusted, global infrastructure. The solution will soon be made available via Google Cloud Marketplace so customers can easily purchase Lacework and integrate the platform into their environment and identify potential issues and threats.
The two companies will also work together for upcoming integrations with Google Cloud Security Command Center. This will help Lacework customers using the Google Cloud when looking for multi-cloud capabilities as part of their security operations deployments.
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