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BAY AREA TECH WIRE -- April 26, 2017
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Sponsored By: Baird Global Technology Investment Banking
http://techservices.rwbaird.com/investment-banking/
o Palo Alto-Based Robinhood Raises $110 Million in Third Round of Funding
o Pleasanton-Based 802 Secure Lands $6 Million in Funding
o San Francisco-Based Engine Yard Acquired by Crossover
o Oakland-Based Globetouch Names Riccardo Di Blasio as New CEO
o Palo Alto-Based Palantir Settles Federal Hiring Discrimination Case
> Baird Commentary: How the IoT Revolution Is Driving Consolidation
o Briefly Noted: Intertrust Technologies - Google, GoPro
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o Palo Alto-Based Robinhood Raises $110 Million in Third Round of Funding
Palo Alto, Calif. -- Robinhood, the Palo Alto-based developer of a financial services platform that lets users invest in U.S. stocks and ETFs commission-free, said on Wednesday it has raised $110 million in its third round of funding. The round, led by DST Global, values the company at $1.3 billion. Previous backers Index Ventures, NEA and Ribbit Capital, as well as new investors Greenoaks Capital and Thrive Capital participated in the round, bringing the company's total funding to $176 million. Launched publically just two years ago, Robinhood recently surpassed 2 million users of its mobile app and $50 billion in transaction volume. The company's premium service, Robinhood Gold, also offers margin, extended hours trading and instant deposits starting at $10 a month. The company, which plans to use the proceeds to expand its products and services, also generates revenue from interest and order flow. "We… look forward to sharing Robinhood with more people so everyone can participate in the U.S. financial markets," said co-founder and co-CEO Baiju Bhatt.
https://robinhood.com/
http://www.businesswire.com/news/home/20170426005362/en/Robinhood-Announces-110-Million-Funding-DST-Global
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o Pleasanton-Based 802 Secure Lands $6 Million in Funding
Pleasanton, Calif. -- 802 Secure, a Pleasanton-based developer of technology designed to scan air space to reveal every RF-emitting device on premise, said on Wednesday it has landed $6 million in a new round of funding, led by Daylight Investors. The company said it will use the proceeds to further develop its two core products -- an Internet of Things defense platform and a cybersecurity monitoring tool for first responders. "IoT fragmentation, disparate standards and legacy security technologies repurposed for IoT have left organizations ill-equipped in securing their wireless networks and devices," said Mike Raggo, 802 Secure's newly hired chief security officer, adding that his company's technology "simplifies deployment, assessment and protection of current IoT and legacy wireless networks, while paving the path to adapt to new wireless risks and threats."
http://802secure.com
https://finance.yahoo.com/news/802-secure-receives-6m-investment-100000764.html
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o San Francisco-Based Engine Yard Acquired by Crossover
San Francisco -- Engine Yard, the San Francisco-based provider of a cloud platform and support for Ruby on Rails, said it has been acquired by Texas-based Crossover, a provider of cloud-based Ruby development teams. Financial terms of the deal were not disclosed. "By combining these two, we can now move up the stack and create a full stack Ruby on Rails experience," said Andy Tryba, the CEO of Crossover and the new Engine Yard. The moves comes weeks after Engine Yard announced the sale of Deis, a provider of open-source tools to manage Kubernetes deployments, to Microsoft to refocus on Ruby on Rails.
http://www.engineyard.com
http://www.crossover.com
http://www.prnewswire.com/news-releases/engine-yard-a-leader-in-ruby-on-rails-acquired-by-crossover-to-become-a-full-stack-ruby-platform-300444820.html
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o Oakland-Based Globetouch Names Riccardo Di Blasio as New CEO
Oakland -- Globetouch, an Oakland-based provider of global connectivity services and analytics, on Wednesday named Riccardo Di Blasio as its CEO. He succeeds Ori Sasson, who will continue as vice chairman. Di Blasio most recently was the chief operating officer (COO) of Cohesity, and previously held key executive roles at companies including EMC and VMware. "His extensive experience in the enterprise sector will enable us to expand our presence in the IoT space," said Sasson. Globetouch's cloud-based virtual network provides connectivity for a wide range of devices and operators in more than 100 countries.
http://www.globetouch.com
http://www.globetouch.com/news/globetouch-appoints-new-ceo-riccardo-di-blasio/
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o Palo Alto-Based Palantir Settles Federal Hiring Discrimination Case
Palo Alto, Calif. -- Palantir Technologies, a Palo Alto-based computer software and services company specializing in data analysis, will pay nearly $1.7 million in back wages and extend job offers to eight people to settle hiring discrimination charges with the U.S. Department of Labor. The charges, levied by the department's Office of Federal Contract Compliance Programs (OFCCP), alleged that Palantir discriminated against Asian applicants in the hiring and selection process for engineering positions. As a federal contractor, the company is prohibited from discriminating in employment on the basis of race, color, sex or national origin, and is required to take affirmative action to ensure equal opportunities. OFCCP filed a complaint against Palantir in September following an investigation.
https://www.palantir.com/
https://www.dol.gov/newsroom/releases/ofccp/ofccp20170425
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Baird Commentary: How the IoT Revolution Is Driving Consolidation
In a recent commentary on the ever-evolving Internet of Things (IoT) revolution, Baird's senior technology bankers discuss how the proliferation of IoT-enabled software and services and ongoing industry consolidation.
Today's sophisticated IoT software and systems not only connect disparate devices, they collect, verify and cleanse data -- diminishing the long-time challenge of cutting through "noise" inherent to data aggregation and facilitating in-depth analysis and application of the collected information into actionable intelligence. This IoT revolution is quickly catching up to its hype by transforming businesses across many sectors. The value of IoT technology has become imperative, and growing demand is fueling tremendous acquisition interest from a diverse range of buyers, pushing competition higher and accelerating consolidation in the space.
Read Baird's insights into this rapidly evolving space and the related M&A activity:
http://www.rwbaird.com/news/Unlocking-Intelligence
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o Briefly Noted:
(Sunnyvale, Calif.) Sunnyvale-based Intertrust Technologies, a developer of digital rights management, software tamper resistance and privacy-driven data platforms, said on Wednesday it has launched PatentShield, a new intellectual property program designed to help startups defend against patent litigation threats. The new program will make a large selection of patents, including a large number from partner Google, available through a defensive portfolio curated by the company.
http://www.intertrust.com/patentshield/
(San Mateo, Calif.) San Mateo-based wearable camera company GoPro has named Susan Lyne to its board of directors. Lyne in the founder and president of AOL-backed investment fund BBG Ventures. She also previously served as CEO of the AOL Brand Group, CEO and then chair of Gilt.com and president and CEO of Martha Stewart Living Omnimedia.
https://gopro.com/news/Susan-Lyne-Joins-Board-of-Directors
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> Baird Commentary: How the IoT Revolution Is Driving Consolidation
In a recent commentary on the ever-evolving Internet of Things (IoT) revolution, Baird's senior technology bankers discuss how the proliferation of IoT-enabled software and services and ongoing industry consolidation. Today's sophisticated IoT software and systems not only connect disparate devices, they collect, verify and cleanse data -- diminishing the long-time challenge of cutting through "noise" inherent to data aggregation and facilitating in-depth analysis and application of the collected information into actionable intelligence. This IoT revolution is quickly catching up to its hype by transforming businesses across many sectors. The value of IoT technology has become imperative, and growing demand is fueling tremendous acquisition interest from a diverse range of buyers, pushing competition higher and accelerating consolidation in the space. Read Baird's insights into this rapidly evolving space and the related M&A activity: http://www.rwbaird.com/news/Unlocking-Intelligence
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