funding

Red Hat acquires AI optimization startup Neural Magic

Fundraising /

Red Hat, the IBM-owned open source software firm, is acquiring Neural Magic, a startup that optimizes AI algorithms to run on commodity processors. The transaction is subject to applicable regulatory reviews and other customary closing conditions. The terms weren’t disclosed. MIT research scientist Alex Matveev and professor Nir Shavit founded Somerville, Massachusetts-based Neural Magic in […]

Red Hat acquires AI optimization startup Neural Magic Read More »

Symbiotic Security helps developers find bugs as they code

Startups /

Symbiotic Security, which is announcing a $3 million seed round today, watches over developers as they code and points out potential security issues in real time. Other companies do this, but Symbiotic also emphasizes the next step: teaching developers to avoid these bugs in the first place. Ideally, this means developers will fix security bugs

Symbiotic Security helps developers find bugs as they code Read More »

Bret Taylor’s customer service AI startup just raised $175M

AI /

Sierra, the AI startup co-founded by OpenAI chairman Bret Taylor, has raised $175 million in a funding round that values the startup at $4.5 billion. Sierra, founded by Taylor and longtime Google exec Clay Bavor, focuses on selling AI-powered customer service chatbots to brands like WeightWatchers and Sirius XM. There’s an “agent” component, as well.

Bret Taylor’s customer service AI startup just raised $175M Read More »

Concentric helps companies keep track of their sensitive data

Fundraising /

Enterprises have a data inventory problem. The amount of data they’re collecting and storing is increasing, and that data is being spread across disparate storage buckets. Yet many organizations rely on processes that essentially amount to pencil-and-paper methods for tracking data provenance. According to one survey, more than 50% of companies use Excel spreadsheets in

Concentric helps companies keep track of their sensitive data Read More »

Supply chain startup Interos lands new customers, cash

Startups /

Each year, supply chain disruptions cost the global economy trillions of dollars. In a recent McKinsey poll, nine in ten businesses said they had encountered logistics challenges over the past 12 months. Headwinds have only grown stronger as chaos reigns in key shipping corridors. Attacks on freighters continue in the Red Sea. Flooding is disrupting

Supply chain startup Interos lands new customers, cash Read More »

Fixify blends automation and human analysts to tackle IT problems

Fundraising /

Matt Peters has spent more than a decade working for cybersecurity vendors. He was a team lead at Check Point, climbed the corporate ladder to VP of worldwide operations at FireEye, and spent over four years at Expel, a managed detection and response firm, as chief product officer. Peters says a surprising common thread ran

Fixify blends automation and human analysts to tackle IT problems Read More »

Interface.ai raises $30M to help banks field customer requests

Fundraising /

Interface.ai, a customer automation platform for banks and other financial institutions, today announced that it closed a $30 million funding round led by Avataar Venture Partners. $20 million of the round was equity, while the remaining $10 million was in the form of debt. It’s Interface’s first outside capital; the startup had been completely bootstrapped.

Interface.ai raises $30M to help banks field customer requests Read More »

Socket lands a fresh $40M to scan software for security flaws

Enterprise /

The software supply chain, which comprises the components and processes used to develop software, has become precarious. According to one recent survey, 88% of companies believe poor software supply chain security presents an “enterprise-wide risk” to their organizations. Open source supply chain components are especially fraught, thanks to the logistical hurdles in keeping each component well-maintained.

Socket lands a fresh $40M to scan software for security flaws Read More »

Investments in generative AI startups topped $3.9B in Q3 2024

Fundraising /

Not everyone is convinced of generative AI’s return on investment. But many investors are, judging by the latest figures from funding tracker PitchBook. In Q3 2024, VCs invested $3.9 billion in generative AI startups across 206 deals, per PitchBook. (That’s not counting OpenAI‘s $6.6 billion round.) And $2.9 billion of that funding went to U.S.-based

Investments in generative AI startups topped $3.9B in Q3 2024 Read More »