Leading identity security provider banks additional investment to help modernize identity governance and privileged access management for IT and security teams.

PORTLAND, Ore., Aug. 8, 2023 — ConductorOne, Inc., the leader in identity security and access governance, announced today a $12M expansion of its Series A funding, led by Felicis. The company has witnessed substantial growth since its initial Series A funding announcement in June 2022, and is now managing access for customers including DigitalOcean, Ramp, Loom, Panther, DeepWatch, and more. These businesses leverage ConductorOne to automate and orchestrate user access to cloud apps and infrastructure through access reviews, self-service requests, just-in-time provisioning, and offboarding workflows. The additional investment will support the company’s growth plans to drive the modernization of the Identity Governance and Administration (IGA) and Privileged Access Management (PAM) markets for cloud forward companies.

Traditional IGA and PAM solutions have failed to adequately address the needs of modern organizations because they were not built for the cloud era. Slow time to value, clunky implementation, and poor user experiences across siloed products has resulted in IT and security teams struggling to remain compliant and secure. IT teams are consumed with access request tickets and manual provisioning, while security teams deal with an increasing attack surface of standing permissions. The implementation of least privilege, considered a security best practice, has remained out of reach without a modernized approach. ConductorOne has positioned itself as the solution to these challenges by guiding, automating, and orchestrating access controls to enforce least privilege.

The extended Series A was led by Felicis and has participation from notable new angel investors including Travis McPeak (CEO and founder at Resourcely), Anna Westelius (Director of Security Engineering at Netflix), Jason Chan (Head of InfoSec at Netflix), Mark Hillick (Head of Security at Brex), Rohit Parchuri (CISO at Yext), Will Bengtson (Senior Director of Security Engineering at HashiCorp), Shubham Raj (Staff Security Engineer at Coinbase), and Tom Alcock (Founder at CodeRed Partners). All of these investors bring extensive expertise and resources that will enable ConductorOne to further strengthen its position as a market leader.

This news comes hot on the heels of another update: the company recently announced its Cloud Privileged Access Management (CPAM) solution ––a major step forward in ConductorOne’s ongoing mission to secure workforce identity and access. With ConductorOne CPAM, security engineering and IT teams can manage permissions and enforce policy for cloud resources in order to achieve least privilege access. The CPAM capabilities that now live within ConductorOne’s unified platform make it possible to govern sensitive access to all cloud infrastructure systems – like AWS, GCP, Azure, Snowflake – without getting in the way of productivity for technical users.

Here’s what investors and current customers are saying about ConductorOne:

“Any solution that helps companies achieve least privilege has to have little to no impact on workforce productivity,” said Jake Storm, Partner at Felicis, “ConductorOne is building a multi-product platform that delivers just that – least privilege access with a seamless user experience powered by automation.”

Heather Cannon, Infrastructure Security Manager at DigitalOcean, expressed her appreciation for ConductorOne’s approach, stating, “ConductorOne is innovating in an area underserved by the technology industry, and solving problems a lot of teams have to do manually. That has a really big value for DigitalOcean. We knew that we wanted everything to be automated, we didn’t want to do anything manually. That didn’t exist anywhere in the market.”

Paul Yoo, Head of Security Assurance at Ramp, emphasized the importance of ConductorOne’s collaboration and problem-solving capabilities, saying, “The fewer people who have access to customer data and the less time they have to access that data, the more that our customers can trust that their data is secure. We found that ConductorOne is willing to collaborate with us and help us solve some of our most difficult challenges when it comes to access management across the company.”

To get in touch with ConductorOne, reach out at [email protected].

About ConductorOne
ConductorOne helps organizations secure their workforce identities through modern access controls and governance. Security and IT teams use ConductorOne to automate user access reviews, identify and remove unused access, and save time with access requests. Forward-thinking companies like DigitalOcean, Ramp Financial, Loom, Panther, and DeepWatch trust ConductorOne to achieve least privilege and ensure compliance. For more, visit www.conductorone.com.

About Felicis
Founded in 2006, Felicis is a venture capital firm investing in companies reinventing core markets, as well as those creating frontier technologies. Felicis focuses on early-stage investments and currently manages over $3B in capital across 9 funds. The firm is an early backer of more than 41 companies valued at $1B+. More than 91 of its portfolio companies have been acquired or gone public, including Adyen (IPO), Credit Karma (acq by Intuit), Cruise (acq by General Motors), Fitbit (IPO), Guardant Health (IPO), Meraki (acq by Cisco), Ring (acq by Amazon), and Shopify (IPO). The firm is based in Menlo Park, CA. Learn more at www.felicis.com.

SOURCE ConductorOne

The round was led by First Analysis with participation from Elevate Ventures, SmoothBrain, VisionTech Partners, and other seed investors

INDIANAPOLIS and PARIS, Aug. 8, 2023 — Stamus Networks, the global leader of Suricata-based network security, today announced it has closed a $6 million series A round of funding. The round was led by First Analysis, a Chicago-based venture capital firm renowned for supporting emerging B2B technology companies, with participation from new investor SmoothBrain. In addition, existing seed stage investors Elevate Ventures and VisionTech Partners also participated in the round.

This investment further cements the company’s position as an innovator of enterprise class, Suricata-based threat detection and response systems that deliver effective results by integrating modern machine learning with traditional detection mechanisms from intrusion detection (IDS) and network security monitoring (NSM) systems. Focused on elite cyber defenders who require details, control, and transparency, Stamus Networks provides a powerful alternative to both legacy systems and the heavily-hyped artificial intelligence (AI) products that simply trigger a warning with no explanatory context or evidence.

“We were impressed by the conversations we had with Stamus Networks’ sophisticated enterprise customers. Each praised the comprehensive, transparent, and granular evidence delivered with detections triggered by the Stamus Security Platform,” said Howard Smith, Managing Director at First Analysis. “The customers also applauded the company’s exceptional customer support. We look forward to helping scale the organization for breakout growth in this exciting market.”

The company will use the funds to advance product innovation, elevate customer experience, and effectively scale go-to-market resources and programs.

“Some of the world’s most targeted organizations trust Stamus Networks and its network-based threat detection and response solutions to help secure their operations,” said Nick Mirchef, co-founder of SmoothBrain. “This notable list of customers includes central banks, multinational government institutions, departments of defense, managed security service providers, and financial service providers.”

“We are excited to partner with First Analysis and SmoothBrain and are grateful for the confidence they and our existing investors have placed in us,” said Ken Gramley, CEO of Stamus Networks. “The funds will enable us to expand our market reach and accelerate our research and development, bolstering our position as the leader of Suricata-based network security for enterprises. Ultimately, it will help us keep more of the most targeted organizations in the world secure,” Gramley continued.

This week, the Stamus Networks team is exhibiting at Black Hat USA in Las Vegas where they will be demonstrating the Stamus Security Platform and meeting with customers and prospective customers in booth 2716D.

About First Analysis

First Analysis is a leading venture capital investor focused on business-to-business technology companies. The firm has one of the longest records in venture capital, having invested more than $825 million across multiple highly diversified funds over four decades. First Analysis invests mainly in North America with a focus on its sectors of expertise, including cybersecurity, e-commerce optimization, enterprise productivity, future of work, go-to-market tech, healthcare IT, infrastructure tech, Internet of Things, learning tech, pharma IT and vertical software as a service. The firm helps established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Their flexible approach targets investing $3-10 million as lead investor or as a syndicate partner bringing valuable perspective. For more information, please visit: firstanalysis.com.

About Stamus Networks

Stamus Networks believes in a world where defenders are heroes, and a future where those they protect remain safe. As organizations face threats from well-funded adversaries, we relentlessly pursue solutions that make the defender’s job easier and more impactful. The global leader in Suricata-based network security solutions, Stamus Networks helps enterprise security teams know more, respond sooner and mitigate their risk with insights gathered from cloud and on-premise network activity. Our Stamus Security Platform combines the best of intrusion detection (IDS), network security monitoring (NSM), and network detection and response (NDR) systems into a single solution that exposes serious and imminent threats to critical assets and empowers rapid response.  For more information visit: stamus-networks.com.

SOURCE Stamus Networks

CHICAGO, Aug. 8, 2023 — Dream Exchange,  is proud to announce that Fortune 500 executives Dereck and Regina Gray, Darrick and Dr. Monique Johnson, as well as Corey Johnson have proudly become investors in the Dream Exchange. They join a consortium of investors from many industries, backgrounds, and areas of expertise who have a firm commitment to changing our public capital market system.

Their commitment to supporting diversity at the highest levels of our economy aligns seamlessly with Dream Exchange’s mission to foster a marketplace that instills trust, humanity, and fairness into finance by opening a set of two new stock exchanges with the purpose to provide access to public capital for small-to-mid size and early-stage companies.

“We are delighted to invest in the Dream Exchange and contribute to its transformative mission. We have witnessed firsthand the profound impact of diversity on driving innovation and sustainable growth. We know more work needs to be done, and by investing in the Dream Exchange, we aim to support entrepreneurs from all walks of life.”–Dereck and Regina Gray

“Investing in Dream Exchange was an easy decision for us. Their vision of establishing the first minority-owned and governed stock exchange is not only inspiring but also a critical step towards creating a more accessible financial ecosystem.” -Darrick and Dr. Monique Johnson

“Investing in Dream Exchange was an easy decision for me. As a Fortune 500 executive, looking for opportunities to create general wealth in a passion area is a win-win. Their vision of establishing the first minority-owned and governed stock exchange is not only personally inspiring, but also a critical step towards creating a more accessible capital marketplace.” –Corey Johnson

“We are very happy to have our new investor additions to the Dream Exchange family. Our investors are a testament to those that support our business plan to address our nation’s urgent need to expand and meet diversity goals within the financial market system. Dream Exchange is committed to building a thriving ecosystem where small-to-mid sized businesses can access capital and gain visibility. With the support of our investors, we are confident in our ability to revolutionize the landscape of the public capital market system and create a more financially free future for all.” –said Dream Exchange’s Founder and CEO Joe Cecala

Sign-up for Dream Exchange’s upcoming free webinar, Revolutionizing Finance: Making Wall Street Accessible for All on Wednesday, August 30, 2023 at 4PM EST.

About Dream Exchange

The Dream Exchange is preparing its application and operations to become registered as the first minority-governed and owned company to operate a stock exchange in the history of the United States. In addition, Dream Exchange is championing the creation of a new type of stock exchange called a venture exchange, to list and trade smaller, early-stage company stock. Dream Exchange’s mission is to create access and equality of opportunity for all people in a fair marketplace that instils ethics, integrity, and humanity.

Visit our website  and follow us on LinkedIn  for more.

MEDIA CONTACT
Vanessa Jean-Louis
Vice President of Public Relations
1-773-914-1182
[email protected]

SOURCE Dream Exchange

NEW YORK, Aug. 8, 2023 — In an affirming development, zkPass, a pioneer in privacy-preserving solutions, has successfully raised $2.5 million in a seed funding round. The impressive roster of investors includes Binance Labs, Sequoia China, OKX Ventures, dao5, SIG DT Investments — a Susquehanna International Group company — Cypher Capital, Leland Ventures, and Blockchain Founders Fund.

Utilizing an innovative combination of three key technologies: zero-knowledge proofs, multi-party computation, and three-party transport layer security, zkPass empowers users to disclose personal data without exposing or uploading the actual documents. This cutting-edge technology opens up new avenues in areas such as decentralized identity passes, privacy-centric healthcare data marketplaces, and DeFi protocols utilizing off-chain data for credit applications.

The funds will be channeled towards advancing the development of zkPass’s pre-alpha testnet, which has already garnered 190,000 signups on its waitlist. Binance Labs played a crucial role in incubating the project, helping shape its direction and growth.

Aly Madhavji from Blockchain Founders Fund commented, “At a time when personal data security is paramount, zkPass is championing a revolution in privacy preservation. We are thrilled to support their innovative approach that stands to redefine how personal information is managed online. The immense interest in their pre-alpha testnet is a testament to the potential of this technology, and we eagerly anticipate the continued success and innovation from the zkPass team.”

About zkPass
zkPass is a privacy-preserving protocol for private data verification. It is built on the foundation of Multi-Party Computation (MPC), Zero-Knowledge Proofs (ZKP), and three-party Transport Layer Security (3P-TLS). zkPass provides TransGate, which enables users to selectively and privately validate their data on any HTTPS website to the web3 world. It can cover various data types such as legal identity, financial records, healthcare information, social interactions, work experience, education and skill certifications, etc. All these types of verifications can be done securely and privately without the need to disclose or upload any sensitive personal data to third parties.

Contact
Name: zkPass Team
Email: [email protected]
zkPass.org

SOURCE zkPass

NEWPORT BEACH, Calif., Aug. 8, 2023 — Tenant Inc., a vertical SaaS technology platform company which offers a complete ecosystem tailored to the self storage industry, has recently closed its third seed funding round with $25 million to support its rapid growth and market penetration.

As with the previous two seed funding rounds, this seed round was oversubscribed. Investor confidence in the first two rounds was centered on the need for Tenant, Inc.’s technology products in the self storage industry, as well as trust in Tenant’s leadership. This third seed round was different in that the product delivery and company growth trajectory has demonstrated product market fit and considerable value for investors. Investor confidence was also reinforced by Tenant, Inc.’s recent acquisition of Storelocal, the largest private membership community of independent self-storage operators.

Up to this point, Tenant, Inc. has not relied upon institutional investors, although this remains a consideration going forward.

“We now have over 100 strategic investors in the United States and Internationally, most of which are self storage facility owners who are actively utilizing our products,” said Lance Watkins, Tenant, Inc.’s CEO. “Our investors initially saw the need for a product that would streamline storage facility operations and provide a better tenant experience. Now, those same investors are not only using our products, they are continuing to invest in both our future and theirs.”

The self storage industry is a highly competitive and fragmented market, an estimated 73% of which is owned by independent facility operators (as opposed to large corporations). Tenant, Inc.’s property management platform offers next-level property management efficiency, visibility, automation, and scalability to an industry that has historically lagged behind in terms of technology.

By automating processes for critical tasks such as completing rentals, collecting revenues, and managing delinquencies, self storage companies can capture and conduct more business, allowing them to stay competitive and scale their operations.

Tenant, Inc., will use funds raised to further advance product development, expand customer support and sales, and increase their platform integration.

About Tenant, Inc.

Tenant Inc. offers a cloud-based, all-in-one digital technology platform purpose-built for the Self Storage Industry. Tenant Inc. provides a single platform of software as a service (SaaS) products, self storage website, and technology solutions that give self storage operators everything they need to run their business across point of sale, operations, and online rentals.

To learn more, please visit tenantinc.com

About Storelocal 

Storelocal is a membership organization created to empower self storage owners and operators to increase their competitive advantage in the marketplace. Storelocal members leverage resources to lower their operational costs and increase their profits through access to best-in-class products and services, in-house technology development, vendor partnerships plus Storelocal Storage brand licensing. Storelocal has more than 1,500 members and a real estate value worth more than $10 billion.

To learn more, please visit storelocal.com

SOURCE Tenant Inc.

Participants led by Recognize, with Salesforce Ventures and strategic private investors joining

SAN FRANCISCO, Aug. 8, 2023 — Thunder, a next generation Salesforce and Cloud consulting, implementation and managed services company, announced the closure of its Series A round. The round is led by new investor, Recognize, with existing investor, Salesforce Ventures, joining.

“We’re thrilled to add Recognize, a committed partner for driven entrepreneurs building differentiated technology services companies, to our list of investors. Plus, to be backed by Salesforce Ventures for a third time is truly an honor,” explained Carter Wigell, Thunder’s CEO. “We have some real unfinished business in this current and future market to help fulfill the promise of CRM, Data and AI.”

Thunder is executing on its vision to be the most innovative and sought-after cloud consulting company in the ecosystem. This round of investment will support Thunder’s global team expansion and fuel new cloud innovation, IP, accelerators, and programs to help customers go to the next level.

“It’s amazing to see how far Thunder has come in such a short time,” said Jim Steele, President, Global Strategic Customers and Partners at Salesforce. “We believe this recent round will help accelerate Thunder’s ability to support our customers, and we look forward to our continued partnership.”

“Thunder has rapidly scaled into a market leader in the Salesforce consulting space and continues to drive innovative solutions for some of the largest businesses in the world. We look forward to working with Carter and the exceptional team at Thunder to build on their early success and assist in their next phase of growth, which will include significant global expansion, meaningful investments in IP and accelerators, and continued scaling of the go-to-market organization,” said Mike Grady, Partner at Recognize.

The investment comes shortly after Thunder’s recent announcement of a specialized Generative AI practice, which is just one component of their comprehensive cross-cloud services aimed at fostering advancement and expansion. For a free Generative AI readiness assessment, contact Thunder at www.thundersf.com.

ABOUT RECOGNIZE

Recognize is a technology investment platform exclusively focused on the technology services industry. The firm provides operational expertise, industry insights and strategic capital to innovative companies in this sector. To learn more, visit www.recognize.com.

ABOUT SALESFORCE VENTURES

Salesforce Ventures helps enterprising founders build companies that reinvent the way the world works. Since 2009, we’ve invested in and partnered with more than 400 of the world’s most tenacious enterprise software companies from seed to IPO, including Anthropic, Cohere, Airtable, Databricks, DocuSign, Guild Education, monday.com, nCino, Snowflake, Snyk, Stripe, Tanium, and Zoom. Salesforce Ventures leverages our decades of expertise in the cloud and our long-term relationships with key decision-makers at thousands of businesses around the world to give our portfolio companies an advantage, help them build credibility, and accelerate growth. Salesforce Ventures has invested in more than 25 countries with offices all over the world including in San Francisco, Irvine, New York, London, and Tokyo. Follow @SalesforceVC and learn more at http://www.salesforceventures.com.

ABOUT THUNDER

Thunder is a pureplay Salesforce consulting and implementation partner, proudly backed by Salesforce Ventures. Built by early employees at Salesforce and seasoned Salesforce professionals, Thunder offers services from strategy and design to execution and activation across multiple clouds on the Salesforce platform. The customer-obsessed, partner-enabled company’s mission to make customers love Salesforce, forever.

Follow Thunder on LinkedIn at linkedin.com/company/thundersf and learn more at www.thundersf.com.

Related Links https://www.thundersf.com/

SOURCE Thunder, Inc

KIRKLAND, Wash., Aug. 8, 2023 — INRIX, Inc., a leading provider of transportation analytics and connected car services, today announced the successful completion of a $70 million financing round from investment funds managed by Morgan Stanley Expansion Capital and Morgan Stanley Tactical Value (together, “Morgan Stanley Investment Management”). The funding will be utilized to fuel the company’s strategic growth initiatives, refinance debt, and further strengthen its position as a key player in the intelligent mobility industry.

For nearly 20 years, INRIX has played a foundational role in shaping the future of transportation by helping cities and businesses take advantage of location-based insights. By leveraging cutting-edge artificial intelligence and machine learning technologies, INRIX has a comprehensive suite of solutions that provides accurate and actionable insights to help make the world move smarter, greener and safer.

“We are thrilled to partner with Morgan Stanley Investment Management as INRIX continues to transform the way people and goods move around the world,” said Bryan Mistele, CEO of INRIX. “This financing round shows their confidence in our vision and ability to drive significant growth in the industry.”

Nick Nocito, Executive Director of Morgan Stanley Expansion Capital, commented, “We recognize the transformative impact INRIX has on the transportation industry and are excited to partner with INRIX and support their mission of creating safer, more efficient transportation systems. INRIX’s dedication to innovation and commitment to excellence is well-known in the industry, and we look forward to the future growth and success of the company.”

Kevin Lin, Executive Director of Morgan Stanley Tactical Value, commented, “INRIX provides mission-critical insights to both private-sector and public-sector clients. Best-in-class organizations in the transportation sector are a focus area for Morgan Stanley Tactical Value, and we are excited to partner with INRIX as they aim to deliver on their mission of driving intelligence in transportation.”

With partners and solutions spanning across the entire mobility ecosystem, INRIX is uniquely positioned to help make mobility intelligent – whether it’s planning a future roadway, reducing emissions by improving traffic signal timing, developing a safety action plan, or optimizing last-mile delivery.

With this latest financing, INRIX is well-positioned to drive innovation, expand its customer base, and further solidify its position as a global leader in the connected car and traffic intelligence market.

About INRIX
Founded in 2004, INRIX pioneered intelligent mobility solutions by transforming big data from connected devices and vehicles into mobility insights. This revolutionary approach enabled INRIX to become one of the leading providers of data and analytics into how people move. By empowering cities, businesses, and people with valuable insights, INRIX is helping to make the world smarter, safer, and greener. With partners and solutions spanning across the entire mobility ecosystem, INRIX is uniquely positioned at the intersection of technology and transportation – whether its keeping road users safe, improving traffic signal timing to reduce delay and greenhouse gasses, optimizing last-mile delivery, or helping uncover market insights. Learn more at INRIX.com.

About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, healthcare, consumer, digital media and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley.

About Morgan Stanley Tactical Value
Morgan Stanley Tactical Value is the flexible, non-control private equity and credit investment platform within Morgan Stanley Investment Management. With a broad mandate to invest across asset classes, sectors and geographies, Morgan Stanley Tactical Value is able to tailor bespoke solutions for companies to meet their unique strategic and financial objectives. The team’s expertise, including deep structuring experience, is complemented by Morgan Stanley’s extensive network and global capabilities to drive differentiated capital solutions for companies, founders, sponsors, and stakeholders. For more information, please visit www.morganstanley.com/im/tacticalvalue.

SOURCE INRIX

Company continues commercialization of innovative electrolyzer technology, providing green hydrogen at industrial scale to drive decarbonization of heavy industry

MOSS LANDING, Calif., Aug. 8, 2023 — Verdagy, a pioneer in scaling electrolyzer technologies for industrial markets, today announced the closing of a $73-million Series B funding round. Temasek and Shell Ventures co-led the Series B round, with participation from new global investors Bidra Innovation Ventures, BlueScope, Galp, Samsung Venture Investment, Toppan Ventures, Tupras Ventures, Yara Growth Ventures and Zeon Ventures.

The new funding will enable Verdagy to accelerate the launch and commercialization of its eDynamic^® 20 megawatt (MW) electrolyzer module, which will serve as a fundamental unit to future systems at the 200MW scale and beyond. Following initial commercial unit deployments with existing partners, Verdagy will expand deployment of its novel eDynamic electrolyzer technology to additional customers in heavy industries such as oil and gas, ammonia, steel and e-fuels to support global industrial decarbonization.

“Verdagy is rising to the challenge to accelerate the green hydrogen economy and decarbonize hard-to-abate sectors such as steel and ammonia production,” said Vikas Gupta, Partner at Shell Ventures. “The management team has a successful track record in scaling climate technologies from megawatts to gigawatts and they are committed to achieving the same at Verdagy.”

Green hydrogen is defined as splitting water using renewable energy, like solar and wind. Verdagy’s technology enables deep decarbonization of heavy industries by incorporating green hydrogen at a very large scale. Their technology drives down the investment with the low operating cost of their eDynamic 20MW electrolyzers coupled with flexible operating capabilities and single-element architecture SmartCells, allowing the large (3m²) cells to operate at higher current densities. This translates directly into more hydrogen production per cell with real-time performance monitoring and predictive maintenance built in.

The team behind this next generation of green hydrogen production is led by industry veterans in the hydrogen, solar and battery sectors. Verdagy CEO Marty Neese brings decades of executive experience across companies like SunPower and Ballard; COO Peter Cousins draws on his past work scaling Tesla’s gigafactories; and Founder, Board Member Dr. Ryan Gilliam is a serial entrepreneur, and founder of industrial decarbonization

companies Fortera, and Chemetry. With this strong team, Verdagy has assembled a wealth of knowledge on producing hydrogen at-scale and delivering winning solutions to customers with urgent decarbonization needs.

“By leveraging our patented large electrochemical cells, using membranes and enabling high current density operations and a wide dynamic range, Verdagy has dramatically lowered the CAPEX of an electrolyzer,” said Neese. “We have shown that our core technology works and Verdagy is ready to scale globally.”  

“Yara is taking the lead on driving the use of electrolyzers in the ammonia and fertilizer industry. We see a strong need for cost competitive, clean hydrogen to be able to decarbonize and drive the movement towards a more environmentally friendly industry” says Stian Nygaard, Investment Director in Yara Growth Ventures. “Electrolyzers are a technology requiring a lot of innovation and product development. We are really impressed by how Verdagy is taking on this challenge and want to take part in this adventure. The world needs them.”

“Verdagy’s potential to demonstrate high-current density over a wide dynamic range across large-area cells led us to incubate and write the first check into the company in early 2020,” said Rajesh Swaminathan, Partner Khosla Ventures. “Since then, the team has made significant progress in validating key performance and cost targets, getting them closer to building out a green hydrogen economy.”

“Verdagy is at an inflection point – going from proven technology to commercialization stage,” said Amar Singh, Head of Group, Bidra Innovation Ventures. “We believe Verdagy can further compound Morocco’s unique advantages, such as low cost solar and wind energy, captive demand and proximity to customers in Europe.”

“We are more than doubling down in this round on Verdagy, we are witnessing how they have gone from a valuable technology to a defensible business,” said Anil Achyuta, Managing Director at TDK Ventures.

About Verdagy

Verdagy is innovating water electrolysis technology for the large-scale production of green hydrogen. Its industry-leading solution reduces both upfront capital costs and ongoing operating expenses, to achieve the industry’s lowest levelized cost of hydrogen. Verdagy operates its laboratory and highly automated commercial pilot plants in Moss Landing, California where it continues to advance its cutting-edge technology.  For more information, visit: www.verdagy.com.

Media Contacts

Jen Capasso, Verdagy
jcapasso@verdagy.com

Sarah Hubbard, Publitek
verdagy@publitek.com

Photo: https://mma.prnewswire.com/media/2171181/Verdagy.jpg

SOURCE Verdagy

Company allows hybrid, multi-cloud workload portability to simplify disaster recovery and cloud migration with 10-minute SLA guarantee

PUNE, India, Aug. 8, 2023 — Datamotive, a company that provides cloud workload portability for worldwide organizations, announced today that it has raised $3.8 million in a Pre-Series A funding round led by the Dubai-based VC firm Morphosis with participation from 3one4 Capital, YourNest Venture Capital and Patni Group. The new funding round will accelerate the delivery of Datamotive’s products that enable organizations to seamlessly and securely scale, migrate and recover data and workloads across public and private clouds with a guaranteed 10-minute recovery service level agreement (SLA) regardless of cloud and workload size.

Datamotive allows organizations to build a hybrid cloud blueprint that supports freedom of choice for any cloud service provider and offers them the ability to run workloads anywhere on any cloud. Its patented replication and recovery engine enables online, agentless replication of entire workloads (OS, platform, application, and its data), while the recovery engine provides a flat-line recovery time (RTO/CTO) of 10 minutes with zero impact on workload performance. The RTO/CTO applies irrespective of the application, its size, or the cloud platform. The company’s strengths lie in enabling cross-hypervisor replication and recovering the workloads using the target native infrastructure.

“We are proud of what we’ve accomplished so far. This funding will enable us to continue the innovation cycle with our DR and cloud migration products, and, of course, accelerate our geographic expansion,” said Yogesh Anyapanawar, co-founder of Datamotive.

“By enabling workload portability, Datamotive accelerates the adoption of hybrid, multi-cloud computing for organizations. This allows businesses to innovate and operate without the fear of vendor lock-in,” added Sameer Zaveri, co-founder of Datamotive.

“We are pleased to collaborate with Datamotive and support the team’s visionary approach in the workload portability market,” said Amit Zutshi, managing partner and founder of Morphosis. “With its innovative, unparalleled cost-to-value ratio, best-in-class SLAs, and exceptional performance, Datamotive.io is poised to lead the way in hybrid cloud workload portability and transform multi-cloud management in the business continuity market.”

About Datamotive 

Datamotive is an enterprise workload mobility company that enables the seamless movement of workloads in a hybrid multi-cloud environment with a guaranteed SLA of 10 minutes. Its patented solution protects organizations from data losses caused by cloud security misconfigurations, data breaches, or the corruption of corporate networks. For more information, go to https://www.datamotive.io/.

About YourNest

YourNest, established in 2011 as a technology-focused Pre-Series A fund house has pioneered deep tech investing and IP-led product innovation in enterprise-driven (B2B) startups (IoT, AI/ML, Robotics, Cloud, Automation, etc). YourNest Innovative Products VC Fund III recorded its first close in Sept ’21 and has NIIF as its anchor investor. In its first Fund, YourNest has provided a DPI of 1.47 with four exits. Its second Fund, fully invested with a maiden exit, features amongst the best performing AIFs in the latest CRISIL AIF Benchmark Report of Sept ’22 with 34.62% net IRR as of March 31 2023, where the peer benchmark stands at 23.68% net IRR.

Media Contact:

Yogesh Anyapanawar
Founder, Datamotive
[email protected]

Logo: https://mma.prnewswire.com/media/2170614/Datamotive_Logo.jpg

SOURCE Datamotive