Dual-Use Tech Roundup - Encrypted Analytics, Supply Chain Cyber Security, Machine Learning & Sensors
16 May 2022 - Featuring New North Ventures Webinar, Enveil, Phylum, Traceable, BehavioSec & Bounce Imaging
New North Ventures May 31 Webinar. Register Here
New North Ventures Webinar:
We are hosting our first webinar with our venture partner Rick Waddell. Rick previously served as the Deputy National Security Advisor to President Trump and also spent 17 years in Brazil as a CEO and Managing Director in the oil, gas, and mining industries. We're going to do a fireside chat with him talking about Ukraine and Russia and why/what does it mean for tech and innovation. It will be Tuesday, May 31, 2022 @ 1100 ET - more details and to RSVP: https://www.newnorthventures.com/events
Deal Round-Up:
Enveil: 📈
Enveil has developed a platform that provides secure and encrypted, privacy-focused search and analytics tools. The company raised $25 M of Series B funding on April 27, 2022. This deal was led by USAA Corporate Development and saw participation from In-Q-tel, MaterCard, Capital One, and other venture groups. The company’s pre-money valuation for this round was $280 M. The funds will be used in the development of the platform for government and commercial use.
Phylum: 🔐
Phylum is a cybersecurity company that has developed a platform aimed at reinforcing vulnerabilities in the supply chain. The platform analyzes source code, revision history, and package metadata to provide a transparent view of the supply chain. The company raised $15 M of Series A funding on May 3, 2022 in a deal led by ClearSky. SixThirty Ventures, First In, TechOperators, and Atlassian Ventures also participated in this round. The funds will be used to grow the company's go-to-market strategy.
Traceable: 📊
Traceable has leveraged machine learning technology to provide an end-to-end security monitoring platform for applications in order to protect their customers from cyberattacks. The company raised $60.18 M in Series B-1 and B-2 funding on May 3, 2022 in a round led by IVP. BIG Labs, Unusual Ventures, and Tiger Global Management also participated in this round. The funds will be put towards development, recruitment, and customer acquisition.
BehavioSec: 🖥
BehavioSec has developed a biometric software platform that leverages machine learning to provide multilayered customer security. The platform specializes in fraud prevention, seamless authentication, and frictionless compliance. The company was acquired by LexisNexis Risk Solutions for an undisclosed amount on May 3, 2022.
Bounce Imaging: 📷
Bounce Imaging has developed omnidirectional cameras and sensors that provide real-time video and sensor data. These cameras maintain vertical and horizontal stability when the system moves or even rolls. The company raised $4.2 M of Series A Prime-1 on May 2, 2022 in a deal led by R42 Group, Good Growth Capital, and Tanis Venture Management. In-Q-tel, Backstage Capital, and other investors also participated in the round. The funds will be used to advance work with the U.S. Department of Defense. The company has also donated some of their cameras to be used by Ukrainian forces.
What We’re Reading:
War in Ukraine: Twelve disruptions changing the world - McKinsey & Company
While America Slept, China Became Indispensable - FP Insider
China’s military planners move faster than Pentagon bureaucrats, official says - Washington Examiner
Ukraine and Russia. Why and What It Means - New North Ventures webinar 5/31