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BAY AREA TECH WIRE -- Oct. 20, 2017
o San Francisco-Based Lyft Raises $1 Billion in New Round Led by Alphabet
o Briefly Noted: Reltio, EdCast, Intuit
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o San Francisco-Based Lyft Raises $1 Billion in New Round Led by Alphabet
San Francisco -- Lyft, the San Francisco-based ridesharing service that competes head-to-head with Uber, said it has landed a $1 billion round of funding, led by CapitalG, the investment fund of Google-parent Alphabet. The round, which comes just six months after Lyft landed $600 million from a conglomeration of investors, gives the company a post-money valuation of $11 billion. David Lawee, a partner at CapitalG, has joined the company's board of directors. "Ridesharing is still in its early days and we look forward to seeing Lyft continue its impressive growth," said Lawee in a statement. Lyft's service currently is available to 95% of the U.S. population, up from 54% at the beginning of the year. Still, the company trails Uber in the fast-growing market. "While we've made progress towards our vision, we're most excited about what lies ahead," Lyft said in a statement. "The fact remains that less than 0.5% of miles traveled in the U.S. happen on rideshare networks. This creates a huge opportunity to best serve our cities' economic, environmental, and social futures."
o Mountain View-Based EchoPixel Lands $8.5 Million in First Round
Mountain View, Calif. -- EchoPixel, a Mountain View-based developer of interactive virtual reality software designed to assist healthcare professionals in detailed interpretation of medical images, said it has raised $8.5 million in its first round of funding. Intel Capital led the round, which also included participation from previous backers Aurus Capital, Runa Capital and Harris & Harris Group, along with new investors LAM Research and Binomial. The company said it will use the proceeds to expand its commercial, research and development and regulatory organizations. EchoPixel's True 3D Viewer software enables physicians and surgeons to see and interact with medical images the way they would with real, physical objects. The technology currently is being used at the University of California, San Francisco; Stanford; the Cleveland Clinic; the Lahey Clinic; and the Hershey Medical Center; among others.
o San Francisco-Based Intezer Raises $8 Million in First Round of Funding
San Francisco -- Intezer, a San Francisco-based cyber security startup focusing on malware analysis and detection, said on Friday it has raised $8 million in its first round of funding, led by Intel Capital. Magma and Samung NEXT also took part in the round, which the company will use to bolster its global sales efforts and expand into targeted markets. The company's technology is designed to detect advanced threats by essentially replicating the concepts of the biological immune system. "Intezer has developed the most advanced technology for detecting code-reuse, effectively performing 'DNA mapping' for software," said co-founder and CEO Itai Tevet. "With this technology, we are able to identify every single piece of code running in the organization, enabling us to detect the most sophisticated cyber attacks and help security teams to respond immediately."
o New Bill in Congress Would Regulate Online Political Ads
Washington, DC -- Heavily influenced by Russia's alleged interference in the 2016 presidential election, a new bill introduced in Congress Thursday would regulate political ads sold online the same way they are regulated on TV and the radio. The Honest Ads Act, co-sponsored by Sen. John McCain (R-Ariz.), aims to prevent foreign actors from influencing U.S. elections on sites like Facebook, Twitter and Google. Specifically, it would increase the transparency of online political ads by: expanding the definition of "electioneering communication" to include paid Internet and digital ads, require sites with at least 50 million monthly viewers to maintain a public file of all political ads purchased by a person or group that spends more than $500, and require that sites make all reasonable efforts to ensure that foreigners are not purchasing political ads. "In the wake of Russia's attack on the 2016 election, it is more important than ever to strengthen our defenses against foreign interference in our elections," said McCain. "Unfortunately, U.S. laws requiring transparency in political campaigns have not kept pace with rapid advances in technology, allowing our adversaries to take advantage of these loopholes to influence millions of American voters with impunity. Our bipartisan legislation would address this serious challenge by expanding landmark campaign finance law to apply to internet and digital communications platforms that command a significant audience." Sen. Amy Klobuchar (D-Minn.) and Sen. Mark Warner (D-Va.) also are cosponsors.
o San Jose-Based Electric Cloud Names Carmine Napolitano as New CEO
San Jose, Calif. -- Electric Cloud, a San Jose-based provider of tools designed to help clients deliver software faster by accelerating development, automating deployments and coordinating releases, on Friday named Carmine Napolitano as its new CEO. Napolitano, who previously served as the company's CFO, succeeds Steve Brodie, who will continue as a strategic advisor. Napolitano has spent more than 25 years as a CEO, COO and CFO, working with companies such as Paradata, Blekko, Computer Access Technologies, LeCroy, Centric Software and Wavefront Technologies. He has completed more than $500 million in financial transactions, including an IPO, three company exits and more than a dozen financings. Electric Cloud's clients include E*TRADE, Gap, HPE, Intel and Lockheed Martin.
Campaigns & Elections Summit - Nov. 13 - Washington, D.C.
Our 3rd annual Campaigns & Marketing Summit is a month away in D.C.
The Early-Bird Rate Ends on Tuesday! It will save you 30%
The summit on Nov. 13 brings together digital, tech, marketing and campaign executives to discuss the future of technology, social media, digital marketing, and more.For more information, go to: http://www.camsummitdc.com
This year's keynotes include:
o Shawn DuBravac, author, futurist, and former chief economist at CTA
Tech/Brand Panels Include:
o Email Marketing & Deliverability: Getting Into the Inbox
o SEO in 2018: Preparing For Mobile-First and More
o Social Media: Driving Engagement in a Distracted World
o Insights from comScore: A Dive Into the Latest Data for Marketers
o Briefly Noted:
(Redwood Shores, Calif.) Redwood Shores-based Reltio, developer of a platform designed to provide companies with data, relevant insights and recommended actions, has named Renee Hollinger as its chief human resources officer. Hollinger most recently served as the executive vice president of global human resources at ironSource, and previously was the vice president of human resources at Big Heart Pet Brands.
(Mountain View, Calif.) Mountain View-based EdCast, the developer of a personalized learning platform, has named Becky Willis as its vice president of enterprise engagement, Ryan Bertrand as its vice president of enterprise solutions and Abhijit Bhaduri to its advisory board. Willis previously spent 16 years in key executive roles at HP and HP Enterprise, Bertrand held leadership positions at Skillsoft, IBM, SuccessFactors and Degreed; and Bhaduri is the author of "The Digital Tsunami" and founder of a digital transformation consulting service.
(Mountain View, Calif.) Mountain View-based Intuit, the developer of financial management software such as TurboTax and QuickBooks, said that Diane Greene will step down from its board of directors after 11 years of service. Greene is the CEO of Google's cloud businesses, and previously was the co-founder and CEO of VMware. The board has nominated Thomas Szkutak, the former senior vice president and chief financial officer (CFO) at Amazon.com, to stand for election at the company's annual meeting.
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Friday, October 20, 2017
Bay Area Tech Wire - Oct. 20
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