Mar
04
2019
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Scytale grabs $5M Series A for application-to-application identity management

Scytale, a startup that wants to bring identity and access management to application-to-application activities, announced a $5 million Series A round today.

The round was led by Bessemer Venture Partners, a return investor that led the company’s previous $3 million round in 2018. Bain Capital Ventures, TechOperators and Work-Bench are also participating in this round.

The company wants to bring to applications and services in a cloud native environment the same kind of authentication that individuals are used to having with a tool like Okta. “What we’re focusing on is trying to bring to market a capability for large enterprises going through this transition to cloud native computing to evolve the existing methods of application to application authentication, so that it’s much more flexible and scalable,” company CEO Sunil James told TechCrunch.

To help with this, the company has developed the open-source, cloud-native project, Spiffe, which is managed by the Cloud Native Computing Foundation (CNCF). The project is designed to provide identity and access management for application-to-application communication in an open-source framework.

The idea is that as companies transition to a containerized, cloud-native approach to application delivery, there needs to a smooth automated way for applications and services to very quickly prove they are legitimate, in much the same way individuals provide a username and password to access a website. This could be, for example, as applications pass through API gateways, or as automation drives the use of multiple applications in a workflow.

Webscale companies like Google and Netflix have developed mechanisms to make this work in-house, but it’s been out of reach of most large enterprise companies. Scytale wants to bring to any company this capability to authenticate services and applications.

In addition to the funding announcement, the company announced Scytale Enterprise, a tool that provides a commercial layer on top of the open-source tools the company has developed. The enterprise version helps companies that might not have the personnel to deal with the open-source version on their own by providing training, consulting and support services.

Bain Capital Venture’s Enrique Salem sees a startup solving a big problem for companies that are moving to cloud-native environments and need this kind of authentication. “In an increasingly complex and fragmented enterprise IT environment, Scytale has not only built Spiffe’s amazing open-source community but has also delivered a commercial offering to address hybrid cloud authentication challenges faced by Fortune 500 identity and access management engineering teams,” Salem said in a statement.

Based in the Bay Area, Scytale launched in 2017 and currently has 24 employees.

Sep
06
2018
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PagerDuty raises $90M to wake up more engineers in the middle of the night

PagerDuty, the popular service that helps businesses monitor their tech stacks, manage incidents and alert engineers when things go sideways, today announced that it has raised a $90 million Series D round at a valuation of $1.3 billion. With this, PagerDuty, which was founded in 2009, has now raised well over $170 million.

The round was led by T. Rowe Price Associates and Wellington Management . Accel, Andreessen Horowitz and Bessemer Venture Partners participated. Given the leads in this round, chances are that PagerDuty is gearing up for an IPO.

“This capital infusion allows us to continue our investments in innovation that leverages artificial intelligence and machine learning, enabling us to help our customers transform their companies and delight their customers,” said Jennifer Tejada, CEO at PagerDuty in today’s announcement. “From a business standpoint, we can strengthen our investment in and development of our people, our most valuable asset, as we scale our operations globally. We’re well positioned to make the lives of digital workers better by elevating work to the outcomes that matter.”

Currently PagerDuty users include the likes of GE, Capital One, IBM, Spotify and virtually every other software company you’ve ever heard of. In total, more than 10,500 enterprises now use the service. While it’s best known for its alerting capabilities, PagerDuty has expanded well beyond that over the years, though it’s still a core part of its service. Earlier this year, for example, the company announced its new AIOps services that aim to help businesses reduce the amount of noisy and unnecessary alerts. I’m sure there’s a lot of engineers who are quite happy about that (and now sleep better).

Nov
15
2017
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Email marketer SendGrid up 13% following IPO

 Marketing email company SendGrid had a decent first day on the New York Stock Exchange on Wednesday. After pricing shares at $16, the company closed at $18.03, or up almost 13%. The Denver-based company had raised $131 million after pricing its IPO at $16, above the expected range of $13.50 to $15.50. SendGrid also upsized its IPO, selling 8.2 million shares, instead of 7.7 million.… Read More

Nov
07
2016
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Confirmed: Periscope Data raises $25 million from Bessemer Venture Partners

pasted-image-at-2016_11_07-12_44-pm Periscope Data, the company that helps data scientists quickly turn their findings into easily digestible visualizations, has confirmed the raise of $25 million in Series B funding.
We originally reported on this funding news last week, and mistakenly named the wrong lead investor. Bessemer led the round, with participation from existing investors, including DFJ, Susa Ventures, Innovation… Read More

Nov
01
2016
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Otonomo raises $12 million to make data from connected cars useful

connected-car Even if self-driving cars aren’t part of our daily lives yet, vehicles are becoming internet-connected at a rapid pace. Gartner predicts that one fifth of all autos on the road, and great majority of new vehicles being produced worldwide will have wireless network connectivity by 2020. Yet, few organizations have access to use the data generated by these vehicles today. That’s… Read More

Jul
26
2016
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Prospera raises $7 million to put computer vision and AI to work on the farm

Prospera monitors tomatoes growing in a greenhouse. A Tel Aviv-based startup called Propsera has raised $7 million in new venture funding to build out systems that will monitor and help farmers improve the health of their crops, and optimize their operations. Bessemer Venture Partners led the Series A round. Prospera CEO and co-founder Daniel Koppel said agriculture professionals have plenty of tech at their disposal today from soil and… Read More

Jun
02
2016
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Tile raises $18 million to make personal belongings easy to find

Tile's tags bring locate-ability to analog items like wallets and purses. To help people find lost, stolen or misplaced personal effects with the proverbial touch of a button, a startup called Tile has raised $18 million in a Series B funding round led by Bessemer Venture Partners. For the unfamiliar, Tile makes square, waterproof tags that employ Bluetooth low-energy radio and GPS technology to find objects they’re attached to, like wallets, keychains, purses… Read More

Feb
18
2015
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Bessemer Looks Forward With New $1.6B Fund

Pile of money with a hundred dollar bill on top. Bessemer Venture Partners (BVP) announced its latest investment fund today with $1.6B in investments. It has dubbed it BVP IX. It follows a highly successful BVP VIII. Byron Deeter, a partner at BVP says this is just part of the normal fundraising cycle for the company. They are reaching the end of the previous cycle when they launched BVP VIII, and as the funds from that round have… Read More

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