Verbit Becomes a Unicorn
The company announced a $157 million Series-D, bringing its valuation to over $1 billion, only four years since its inception. This round was led by Sapphire Ventures, alongside new investors such as Third Point Ventures, and included participation from existing investors. The funds will fuel Verbit's accelerated organic and inorganic growth.
Following its recent acquisition of VITAC, Verbit is now the #1 player in the professional transcription and captioning market, supporting more than 1,500 customers, including CNBC, CNN, FOX, Harvard, Stanford, and Kaltura.
BlueRibbon acquired by DraftKings
Blue Ribbon Software Ltd. was acquired earlier this week by DraftKings Inc. (NASDQ: DKNG), a US-based digital sports entertainment and gaming company.
BlueRibbon is a marketing platform that provides proprietary jackpot technology for gaming operators to deliver customized promotions and rewards for their users.
DraftKing operates in 17 countries, and will integrate BlueRibbon's existing employee base in Tel Aviv, while boosting hiring in the Israeli office.
OwnBackup Reaches a Unicorn Status
The company announced the closing of a $167.5M Series-D financing, led by Insight Partners, SalesForce Ventures, and Sapphire Ventures, at a nearly $1.4B valuation. Continuing its aggressive growth, Ownbackup added over 400 customers during 2020 and now has nearly 3,000 customers. This new financing will support doubling the number of employees in order to maintain the same growth rate in 2021-2. We are proud to be OwnBackup’s first investor!
SiteAware Closes a $10M Series-A
This recent financing round was co-led by Axon Ventures and Bosch VC, with participation of existing investors. The company intends to use the funds to widen its US market penetration. SiteAware's leading AI-based Digital Construction Verification solution is already being used by a number of US customers, including Hines, Related, and a dozen of other top-tier construction companies.
OwnBackup Announces a $50M Series-C
OwnBackup announced that it raised $50 million in a new fundraising round led by Insight Partners, with participation from Salesforce Ventures and Vertex. This comes on top of the $23 million that OwnBackup raised in 2019 from early backers, bringing the company’s total funding to $100 million. The company has seen a record second quarter, adding 250 new customers, and is continuing to grow 100% year-over-year.
Identiq recognized in the Gartner top cool vendors
Gartner released its 2020 report listing the top Cool Vendors in Privacy and Fraud Prevention, and Identiq is one of those honored by inclusion.
Gartner profiled vendors who show the breadth of capabilities which are required to improve a privacy program’s effectiveness.
DataRails secures $18.5M in additional funding
This new financing round was led by Oren Zeev (Zeev Ventures), and DataRails intends to use this funding to further invest in enterprise integrations and its AI capabilities.
The company is looking to transform the way SMBs collect and analyze financial data from various sources, which currently rely on manually gathering information from their ERP, CRM, or HRIS solutions, and running it through Microsoft Excel.
Identiq Closes a $47M Series-A
The company announced a $47 million Series-A financing, led by Insight Partners and Entrée Capital, with participation from Amdocs, Sony Innovation Fund by IGV, as well as our own Oryzn Capital. The funding announcement comes after a year of hyper-growth, driven by consumer-facing organizations that are frustrated with privacy challenges, fraud, and data theft. Identiq intends to apply the funds to expand its network even further, aiming to use its proprietary technology to build the world's largest Identity Validation Network.
Verbit Closes a $60M Series-C
Following over 400% YOY revenue growth, and less than a year after its $31m Series-B, Verbit secures a $60m financing round led by Sapphire Ventures. The COVID-19 pandemic presented unique opportunities for accelerated growth due to the quick shift to online learning, as well as remote depositions and work, which dramatically increase the need for professional digital transcription solutions.
Gong.io Raises $200M at a $2.2B Valuation
The company completed its third funding round in less than 18 months and is now officially a unicorn... In that period of time, Gong has more than tripled its number of customers, while revenues grew 2.5x in the first half of 2020 alone. According to Gong's CEO Amit Bendov, the company is seeking to reach $200M+ in revenues within the next couple of years, and therefore isn’t planning an IPO just yet.
Verbit featured in top startup lists
Prestigious San Francisco-based investment platform JMP, run by JMP Group LLC, included Verbit on its yearly list of 100 most promising startups, selected by the Software research team at JMP Securities.
Verbit was also chosen by Calcalist, a leading Israeli financial newspaper, for its annual list of the 50 most promising Israeli startups. This year, each chosen company won its place only if it is considered to survive and thrive during the coronavirus pandemic. In Calcalist’s words, “In a world thrown into chaos by the COVID-19 pandemic, the startups featured in this list are doing their best to keep the world economy on the rails, offering innovation to match the magnitude of the crisis.”
Identiq hosts first ever Identity Validation virtual summit
Over a dozen global brands, including Blackhawk Network, Intuit, Eventbrite, Udemy, Gett, and Via, joined Identiq in the first-ever virtual summit that brought multiple global brands to work together in order to advance issues of Identity Validation, Security and User Experience.
Held online, the Summit brought together companies from different sectors in order to collaborate and reimagine identity validation, and to improve security in card-not-present payments.
"This first sounded almost too good to be true," said Vlad Branin, GM Global Business Operations at Gett.
"As I learned more, I came to the conclusion that this really is possible; I was hooked. The combination of network effect and anonymization should provide a
very, very high level of confidence for business decision-makers. I can't wait to see the possibilities of Identiq realized."
Verbit Raises a $31M Series-B Led by Stripes
The company announced the closing of a $31 million Series B funding round led by Stripes -- a leading NY-based growth equity firm -- with the participation of existing investors, including HV Ventures, Viola, Vertex, ClalTech and Oryzn. This round brings Verbit’s total funding to $65 million, following a $23 million Series A round announced in January 2019.
Verbit combines its own AI-based speech recognition technology with a network of fifteen thousand human transcribers to deliver 99%+ accuracy to its customers at a fraction of the cost of existing solutions. More than 150 organizations (including Stanford University, NCAA, and London Business School) use Verbit to maximize the potential of their audio and video content by making the information accessible, searchable and actionable.
This latest investment will further accelerate the company’s rapid growth in a multi-billion dollar market, including penetration to new industry verticals, adding coverage of additional languages, and continually expanding its offerings.