Top tech startup news for today, Tuesday, August 13, 2019
Good morning! Below are some of the top tech startup news for today, Tuesday, August 13, 2019.
Bloomberg acquires regulatory reporting services provider startup RegTek.Solutions. Bloomberg, a global business and financial information and news leader, today announced that it has acquired RegTek.Solutions, a NYC and London, UK-based provider of global regulatory reporting software solutions. The amount of the deal was not disclosed. The acquisition will expand the range of regulatory reporting services offered by Bloomberg, and deliver a fully integrated and comprehensive service that supports compliance with current and upcoming regulatory reporting requirements across multiple jurisdictions around the world. As part of the acquisition agreement, RegTek.Solutions, which provides modular software solutions built around actionable regulatory intelligence, will be integrated with Bloomberg’s Regulatory Reporting Hub (RHUB), as well as Bloomberg’s enterprise data management and trading systems.
Attentive raises $40 million led by Sequoia to replace promo emails with texts. Mobile marketing startup Attentive announced it has announced it has raised a $40 million Series B funding round to move company promotions away from emails and towards texts. The round was led by Sequoia, with participation from existing investors Bain Capital Ventures, Eniac Ventures and NextView Ventures, and new investors IVP and High Alpha. Attentive has also partnered with over 400 retailers (including Sephora, Urban Outfitters, Coach, CB2 and Jack in the Box) to help send personalized promotional texts to interested customers.
Clumio launches enterprise Backup as a Service product with $51 million in funding. Clumio, a tech startup building a public cloud SaaS data and the innovator of authentic SaaS for enterprise backup, has officially launched its flagship Backup as a Service product with $51 million in funding from leading Silicon Valley investors. Clumio Backup as a Service first became available on April 30th, 2019. Clumio has received a total of $51 million in funding over two rounds. Sutter Hill Ventures-led Series A round and a Series B round driven by Index Ventures with significant participation from Sutter Hill Ventures. Several individuals experienced at investing in disruptive technologies also participated including, Mark Leslie, founder of Veritas Technologies, and John Thompson, chairman of the board at Microsoft.
More tech companies are launching ‘lite’ apps to woo users in emerging markets. With smartphone penetration gaining traction in emerging markets, tech giants are beginning to offer “lite” versions (a smaller and simpler iterations of their platforms) and tailor their services to data-conscious users, according to a the latest report. Facebook, YouTube, TikTok, Twitter and even LinkedIn have pushed out “lite” versions. Last month, Spotify joined the fray with the officially launch of its lite apps in 36 markets, while Tinder has announced plans to launch its own “lite” app.
Barracuda acquires Indian cybersecurity startup InfiSecure. Barracuda Networks, a provider of cloud-enabled security solutions, acquired InfiSecure Technologies, an India-based provider of bot mitigation technology platform. The amount of the deal was not disclosed. InfiSecure specializes in low-latency detection and mitigation of advanced bots, providing seamless integration with CDNs, WAFs. Founded in 2016 by Abhilash Pandey and Sandeep Singh, InfiSecure is a provider of real-time SaaS bot detection and protection platform to block online security threats. InfiSecure’s robust web security platform detects and blocks online security threats. It protects businesses from various online threats like content theft, hacking attempts, web scraping, price scraping, account hijacking, carding fraud, form spam and comment spam.
Formant buys Pittsburgh-based startup Formation to add robot remote control to its fleet management solutions. Formant, a robot fleet management software startup, has acquired Formation, a robot teleoperation startup based in Pittsburgh. The amount of the deal was not disclosed. As part of the acquisition, Formant will integrate the startup’s solution to enable customers to remotely control their robots through its browser-based, cloud-enabled robot fleet management system. Formant’s target is the rapidly growing RaaS market which is estimated to grow to $40 billion worldwide in the next three years — it also sees more traditional companies approaching robotics for process automation.
Health tech startup HealthEfficient receives $9.5 million in federal funding to support community health centers. HealthEfficient, a tech startup founded in 2007 with the mission to serve community health centers, today announced it has received two awards totaling $9.5 million in federal funding from the Health Resources and Services Administration to support community health centers in the eastern United States. One award enables HealthEfficient to continue its work as a mission-driven Health Center Controlled Network (HCCN), supporting 36 health centers in using Health Information Technology to improve clinical and operational performance; to reduce provider burden; and to address diabetes, hypertension, and Opioid Use Disorder over the next 3 years. The second award from HRSA will enable HealthEfficient and its partners to create a Network for Oral Health Integration (NOHI) across at least 3 states and Washington, DC.
AtriCure to acquire medical device startup SentreHEART for approx. $300 million. AtriCure, a developer of treatments for atrial fibrillation (Afib) and left atrial appendage (LAA) management, is acquiring SentreHEART, a medical device startup company developing tissue closure solutions, offering physicians control over remotely delivered sutures, for about $300 million. As part of the deal, AtriCure will make an upfront payment of approximately $40 million in cash and AtriCure common stock, plus additional contingent consideration based on the achievement of certain clinical and reimbursement milestones over the next several years, all of which are value-creating events. The transaction is expected to close in the next several days, subject to customary closing conditions. Founded in 2005, SentreHEART is a medical device company which has developed innovative technology for remote delivery of suture for closure of anatomic structures including the LAA.
Pavilion Data raises $25 million in Series C funding to accelerate the delivery of its NVMe over Fabrics (NVMe-oF) storage technology and expand to new markets. Pavilion Data, a data storage startup that empowers organizations to make better decisions faster with its ultra-fast, rack-scale NVMe-over-Fabric Storage Platform, announced today it has closed a $25 million Series C funding round to accelerate the delivery of the company’s NVMe-oF products, expanding to new markets, and growing the team to support customer demand. The round, which brings the total funding to $58 million, was led by new investor Taiwania Capital with RPS Ventures joining existing investors. Founded in 2014 by Kiran Malwankar, Sundar Kanthadai, VR Satish, Pavilion Data Systems empowers organizations to make better decisions faster. Its ultra-fast, rack-scale NVMe-over-Fabric Storage Platform ingests, processes, stores and serves an order of magnitude more data for massively-parallel modern applications.