Top tech startup news for today, Monday, November 4, 2019 – Volterra, ProofPoint, Bigfinite, Kover

Good morning! Below are some of the top tech startup news for today, Monday, November 4, 2019.

Facebook changes its corporate logo to separate the corporation from the Facebook app. Social giant Facebook has changed its corporate logo in a move to separate the core Facebook social network from its subsidiaries like WhatsApp and Instagram. Sometimes known internally as the “big blue app,” the Facebook social network represents the Facebook corporation. The change comes amid criticism from lawmakers and advocates for its privacy practices, and concerns that the data collection that’s common on the Facebook platform may bleed over into its other businesses.

Microsoft will start letting customers run Azure programs in clouds owned by Amazon and Google. As part of a broader effort to an era of proprietary software, Microsoft  Monday announced the introduction of Azure Arc software at its Ignite conference in Orlando, Florida. The new Azure Arc will enable developers to deploy a database or virtual machine onto infrastructure from Amazon or Google and manage it from Azure. It’s the latest effort by Microsoft CEO Satya Nadella to let customers use whatever technology they want, even if it’s from a rival. Azure Arc will support deployments on Amazon Web Services and other non-Microsoft infrastructure.

Proofpoint acquires Boston-based ObserveIT for $225 million. Cybersecurity provider Proofpoint announced that it’s acquiring Boston-based ObserveIT for $225 million. ObserveIT is a developer of tools to detect and manage insider threats. Founded in 2006, ObserveIT previously raised over $50 million in venture funding.

SaaS startup Bigfinite raises $15M Series B financing from Atlantic Bridge and Honeywell Ventures to disrupt manufacturing analytics. Bigfinite, a SaaS startup that provides simple solutions to complex needs in biotech and pharma, has closed $15 million in financing to support the market expansion of Bigfinite’s SaaS platform. The round was led by Atlantic Bridge, Honeywell Ventures and Institut Català de Finances, with  participation from existing investors including Uncork Capital, Crosslink Capital and La Famiglia. To date, Bigfinite has raised a total of more than $23.5 million. Founded in 2014 by Pep Gubau and Pere Merino, the San Francisco-based Bigfinite’s AI-powered SaaS platform helps pharmaceutical and biotech companies discover new ways to optimize manufacturing processes, reduce quality issues, and enhance regulatory compliance.

Kover.ai secures $1.5 million in seed funding to grow its platform. Kover.ai, a San Francisco, CA-based insurtech startup, closed a $1.5m seed funding round. Kover.ai recently closed a $1.5 million seed round from some big names in the Silicon Valley and Chicago tech ecosystems. The round was led by West Loop Venture, with additional investments from Afore Capital and Techstars Venture. Kover.ai was also one of the nine companies that came out of the 2019 MetLife Digital Accelerator Powered by Techstars. Founded in 2018, Kover.ai, lets anyone can create and sell insurance products that run autonomously at near zero cost. Led by Zack Peng, Kover.ai leverages decentralized software to enable any business to build and distribute coverage products to its own customers, through an API, bypassing the need to involve any insurance company.

Apple to spend $2.5 billion to combat housing crisis in California. Tech giant Apple today announced a $2.5 billion plan to help address the housing availability and affordability crisis in California. As costs skyrocket for renters and potential homebuyers — and as the availability of affordable housing fails to keep pace with the region’s growth — community members like teachers, firefighters, first responders and service workers are increasingly having to make the difficult choice to leave behind the community they have long called home. Nearly 30,000 people left San Francisco between April and June of this year1 and homeownership in the Bay Area is at a seven-year low.

Motive Partners Closes $473 million for its Maiden Fund. Motive Partners, a New York City-based  next-generation investment firm focused on technology enabled companies that power the financial services industry,  has closed $473 million for its inaugural fund called Motive Capital Fund I. The fund’s commitments came from public pension plans, sovereign wealth funds, alternative asset managers, family offices, endowments and foundations across North America, Europe, the Middle East and Australasia. The fund is the firm’s debut private equity vehicle focusing on growth and buyout opportunities in financial and business services technology companies.

Gearflow.com raises $1.1M seed funding to elevate construction equipment rental. Gearflow.com, an e-commerce platform startup for construction equipment rental businesses, has raised $1.1 million seed funding round to strengthen its platform and grow their team. Founded in 2008 by CEO Luke Powers, Gearflow.com provides an e-commerce platform for construction equipment rental companies and complementary businesses to reach equipment end users. The platform has grown to over 90 active sellers from independent to national rental equipment companies.