Tuesday, April 11, 2017

Bay Area Tech Wire - April 11

BAY AREA TECH WIRE -- April 11, 2017
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Newark-Based Tegile Systems Raises $33 Million in New Funding Round
o Redwood City-Based Synack Lands $21.25 Million in Third Round
o Milpitas-Based FleetUp Raises $5 Million in Second Round of Funding
San Francisco-Based SafeGraph Raises First $13.9 Million of Planned Round
o Briefly Noted: Inpixon Federal, Eaze - San Jose

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o Newark-Based Tegile Systems Raises $33 Million in New Funding Round

Newark, Calif. -- Tegile Systems, a Newark-based provider of flash-driven storage arrays for databases, virtualized servers and virtual desktop environments, said on Tuesday it has raised $33 million in a new round of funding. Western Digital along with previous packers Meritech Capital, Capricorn Investment Group and Cross Creek Capital took part in the round, which increased the company's total funding to $178 million since its inception. Tegile said it will use the latest funds to bolster its technology development and product innovation activities, as well as to expand its worldwide market reach. "Tegile has always been focused on two main goals: disruptive all-flash technology and sustainable growth," said CEO Rohit Kshetrapal, adding that the new investment "will allow us to continue on this path." Tegile's all-flash and hybrid storage arrays are used by clients such as CMG Financial, United Center and AT&T.

o Redwood City-Based Synack Lands $21.25 Million in Third Round

Redwood City, Calif. -- Synack, the Redwood City-based developer of a hacker-powered security platform, said on Tuesday it has landed $21.25 million in its third round of funding, led by Microsoft Ventures. New investors HP Enterprise and Singtel Innov8, as well as previous backers GGV Capital, GV and Kleiner Perkins Caufield & Byers, also took part in the round, which increased the company's total backing to more than $55 million. The company said it will use the funds to scale adoption across the U.S. and Europe, enter the Asia Pacific market and continue to recruit and invest in skilled hackers. Synack leverages a crowdsourced network of highly vetted ethical hackers to help organizations bolster their cybersecurity. "The best defense is a good offense," said co-founder and CEO Jay Kaplan. "Businesses can only stay one step ahead of the adversary by beating them at their own game." Gary Steele, the CEO of Proofpoint, will join the company's board of directors.

o Milpitas-Based FleetUp Raises $5 Million in Second Round of Funding

Milpitas, Calif. -- FleetUp, a Milpitas-based developer of telematics and GPS tools designed to help clients better manage their fleets, said on Tuesday it has raised $5 million in its second round of funding, led by Humax. The company said it will use the proceeds to help drive product development, as well as bolster customer acquisition, customer support, operations and an go-to-market activities. "With new investment… FleetUp is well positioned to expand our team and rapidly expand our technologies, products, and services into new markets," said CEO Sam Lee. FleetUp's software-as-a-service is designed to help clients maximize profitability, improve driver safety and more effectively comply with current and upcoming regulations.

o San Francisco-Based SafeGraph Raises First $13.9 Million of Planned Round

San Francisco -- SafeGraph, a stealthy, San Francisco-based location data startup, disclosed it has raised the first $13.9 million of a planned $16.1 million round of funding. Eighty-six investors so far have participated, according to a filing with the Securities and Exchange Commission (SEC). The pre-launch company said it will maintain a dataset for human movement across the globe, providing location data products designed to help clients improve decision-making.

o Briefly Noted:

(Palo Alto, Calif.) Palo Alto-based Inpixon, a developer of indoor positioning analytics tools, on Tuesday named Zaman Khan as the president of Inpixon Federal, a subsidiary focused on federal, state and local government agencies and educational institutions. Khan most recently was the executive vice president at a large government IT contractor.

(San Francisco) San Francisco-based Eaze, developer of an app-based service designed to connect people to doctors and marijuana dispensaries for on-demand consultations and deliveries, said it has launched operations in San Jose. The move comes six months after the city reversed its ban on medical marijuana delivery. Deliveries will be fulfilled by The Guild, a San Jose-licensed dispensary.

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