Tag Archives: Software & Services

Onfido raises $25 million for US expansion

Commentary

In today’s fast-paced world of on-demand companies and online marketplaces, doing background checks on new employees and customers need to be fast and efficient. The UK-based software company Onfido uses artificial intelligence and machine learning to carry out background checks across multiple databases including school, criminal and driving records. In addition, Onfido is able to detect fraudulent patterns on documents and recognise if a person is using a fake identity. Onfido is capable of processing high volume checks anywhere in the world and verification is given in matter of seconds. This week, the company announced it has raised $25 million. Onfido will use the capital to bring its platform to the United States.

You can read about the funding here.

Mattermark raises $7.3M at a $42M valuation

Commentary

The San Francisco-based data mining startup Mattermark has raised another $7.3 million in a series B funding round, which values the company at $42 million. Created by Danielle Morrill, Mattermark’s software compiles and analyses various kinds of data from public internet sources in order to provide VCs with business intelligence about potentially lucrative startups. Similar to how Google works, Mattermark organises unstructured data found on the web and uses techniques like distributed web crawling, deep neural networks and natural language processing to reorganise the flow of information. It then uses the information gathered to build comprehensive profiles of companies. The service is useful for VCs who are looking for potential investment opportunities and for tracking existing startups.

You can read about the funding here.

Attivio closed a $31 million financing round

Commentary

Last week, the Data Dexterity Company Attivio, founded in 2008, announced it closed a $31 million financing round. It has now raised $102 million in total funding from its investors, which include Oak Investment Partners, General Electric Pension Trust, Tenth Avenue Holdings, and Per-Olof Soderberg. Attivio announced a strong fiscal year with a 150% increase in license bookings, 100% increase in license revenue, and a 95% renewal rate year-over-year. The company provides a platform that helps companies make sense of big data. It has a software that analyses structured data, such as business intelligence and performance metrics, and unstructured data, including email, documents, media, web. It provides unified information that is insightful, understandable and quantifiable. With a single query, a user can have access to accurate and complete information about company performance. Notable customers include Citi, Qualcomm, UBS, GE, and Thermo Fisher Scientific.

You can read more about the funding here.

Cisco Acquires CliQr

Commentary
After its recent $1.4 billion acquisition of Jasper Technologies, Cisco Systems continues its buying spree by acquiring CliQr. CliQr is a Santa Clara, California-based provider of hybrid cloud migration and management solutions and the deal is valued at $260 million. The startup provides companies with a single platform to manage applications on their own servers, as well as external cloud services. Cisco has been criticised in the past for being slow to adopt cloud, but now the networking giant is catching up and has been aggressively buying smaller startups to boost its cloud computing business. The acquisition of CliQr came at a time when enterprises are taking on a hybrid approach to software management by using on-premises, private cloud and third-party, public cloud services servers to run their IT. Instead of offering its own on-demand cloud computing service, Cisco’s strategy is to offer CliQr as an intermediary between companies and cloud service providers. This way, CliQr can help companies simplify their data centre infrastructure, improve performance and lower costs.