Surprise, surprise: a cybersecurity startup saw the largest funding round of the week by far. WannaCry’s explosive impact on the industry has enterprise security on everyone’s mind, and this startup is now a unicorn because of that attention, closing $100 million in Series D financing. Find out which startup landed the cash, along with the other B2B startups that saw their share of investments this week, below.
Supply Chain Management
Based in the U.S., supply chain management company AKUA announced $3 million in Series Seed financing this week. The company revealed Crosslink Capital led the funding, which also saw participation from Talis Capital and Enterprise Security Syndicate. AKUA will use the money to further develop its IoT gateway platform, according to its CEO Neil Furukawa, and accelerate growth. AKUA deploys Data-as-a-Service technology that integrates into existing data analytics platforms to provide real-time information for logistics companies and other members of the global supply chain. The data offers insight into location, condition and progress of products in-transit, the company said.
While Telr, based in Singapore and India, provides front-office B2C payment solutions to its business customers, the company has also grown a presence in the back-office, with cash management and logistics solutions linked into its overall offering. The company said it raised $3 million in fresh funding, led by Innovations East fund. The Series B funding will go toward geographic expansion, with Telr eyeing Indonesia, Saudi Arabia and Egypt, reports said. The investment will also be used to strengthen its underlying infrastructure and introduce new solutions to its offering, including short-term credit and industry-specific tools. Telr also offers payment APIs and supports transactions in multiple currencies, it explained.
Account-based marketing platform Terminus, based in the U.S., secured $10.3 million in Series B funding this week, led by Atlanta Ventures and Edison Partners. The company provides B2B businesses with a digital platform to develop their marketing and sales strategies, and said it will use the money to invest in product and engineering. The investment round also saw participation from Hyde Park Venture Partners, Arthur Ventures and Knoll Ventures, all of which are existing backers, as well as new investors HubSpot, High Alpha, Vine St. Ventures and others, Terminus said.
With WannaCry’s massive impact in recent days, is it any wonder that a cybersecurity company secured — by far — the largest funding round of the week? U.S.-based CrowdStrike closed a $100 million Series D funding round, the company announced, led by Accel. Other investors that participated include CapitalG, Warburg Pincus, March Capital Partners and Telstra, reports said.
WannaCry will undoubtedly give the cybersecurity industry a major boost (and already has), but CrowdStrike said it’s been enjoying “explosive global growth” as of late, even before WannaCry surfaced. The company uses artificial intelligence and machine learning technology to safeguard corporations both on and off its networks. So far, the company has raised $265 million and is now valued at more than $1 billion. The investment will go toward fueling its continued growth and meeting demand for its cybersecurity services.
Based in the U.K., asset finance company 1pm said it is in the “advanced stages” of closing $13 million in funding (and is also reportedly planning a takeover of an unnamed invoice financing firm). Reports this week said the investment will go toward accelerating growth and pursuing additional takeovers, but so far has remained mum about the exact acquisition target.
Along with its joint unit CCAvenue, Infibeam said it plans to invest $466,000 in RemitGuru parent company Avenues Payments India Private Limited. The investment means Infibeam will partially acquire Avenues Payments, which provides both B2B and B2C cross-border payment capabilities.