Category Archives: Tech News

GN acquires Altia Systems for $125M to add video to its advanced audio solutions

Posted by on 19 February, 2019

This post was originally published on this site

Some interesting M&A is afoot in the world of hardware and software that’s aiming to improve the quality of audio and video communications over digital networks.

GN Group — the Danish company that broke new ground in mobile when it inked deals first with Apple and then Google to stream audio from their phones directly to smart, connected hearing aids — is expanding from audio to video, and from Europe to Silicon Valley.

Today, the company announced that it would acquire Altia Systems, a startup out of Cupertino that makes a “surround” videoconferencing device and software called the PanaCast (we reviewed it oncedesigned to replicate the panoramic, immersive experience of vision that we have as humans

GN is paying $125 million for the startup. For some context, this price represents a decent return: according to PitchBook, Altia was last valued at around $78 million with investors including Intel Capital and others.

Intel’s investment was one of several strategic partnerships that Altia had inked over the years. (Another was with Zoom to provide a new video solution for Uber.)

The Intel partnership, for one, will continue post-acquisition. “Intel invested in Altia Systems to bring an industry leading immersive, Panoramic-4K camera experience to business video collaboration,” said Dave Flanagan, Vice President of Intel Corporation and Senior Managing Director of Intel Capital, in a statement. “Over the past few years, Altia Systems has collaborated with Intel to use AI and to deliver more intelligent conference rooms and business meetings. This helps customers make better decisions, automate workflows and improve business efficiency. We are excited to work with GN to further scale this technology on a global basis.”

We have seen a lot of applications of AI in just about every area of technology, but one of the less talked about, but very interesting, areas has been in how it’s being used to enhance audio in digital network. Pindrop, as one example, is creating and tracking “audio fingerprints” for security applications, specifically fraud prevention (to authenticate users and to help weed out imposters based not just on the actual voice but on all the other aural cues we may not pick up as humans but can help build a picture of a caller’s location and so on).

GN, meanwhile, has been building AI-based algorithms to help those who cannot hear as well, or who simply needs to hear better, be able to listen to calls on digital networks and make out what’s being said. This not only requires technology to optimise the audio quality, but also algorithms that can help tailor that quality to the specific person’s own unique hearing needs.

One of the more obvious applications of services like these are for those who are hard of hearing and use hearing aids (which can be awful or impossible to use with mobile phones), another is in call centers, and this appears to be the area where GN is hoping to address with the Altia acquisition.

GN already offers two products for call centre workers, Jabra and BlueParrot — headsets and speakerphones with their own proprietary software that it claims makes workers more efficient and productive just by making it easier to understand what callers are saying.

Altia will be integrated into that solution to expand it to include videoconferencing around unified communications solutions, creating more natural experiences for those who are not actually in physical rooms together.

“Combining GN Audio’s sound expertise, partner eco-system and global channel access with the video technology from Altia Systems, we will take the experience of conference calls to a completely new level,” said René Svendsen-Tune, President and CEO of GN Audio, in a statement.

What’s notable is that GN is a vertically-integrated company, building not just hardware but software to run on it. The AI engine underpinning some of its software development will be getting a vast new trove of data fed into it now by way of the PanaCast solution: not jut in terms of video, but the large amount of audio that will naturally come along with it.

“Combining PanaCast’s immersive, intelligent video with GN Audio’s intelligent audio solutions will enable us to deliver a whole new class of collaboration products for our customers,” said Aurangzeb Khan, President and CEO of Altia Systems, in a statement. “PanaCast’s solutions enable companies to improve meeting participants’ experience, automate workflows, and enhance business efficiency and real estate utilization with data lakes of valid information.”

Given GN’s work with Android and iOS devices, it will be interesting to see how and if these video solutions make their way to those platforms as well, either by way of solutions that work on their phones or perhaps more native integrations down the line.

Regardless of how that develops, what’s clear is that there remains a market not just for basic tools to get work done, but technology to improve the quality of those tools, and that’s where GN hopes it will resonate with this deal.

Redis Labs raises a $60M Series E round

Posted by on 19 February, 2019

This post was originally published on this site

Redis Labs, a startup that offers commercial services around the Redis in-memory data store (and which counts Redis creator and lead developer Salvatore Sanfilippo among its employees), today announced that it has raised a $60 million Series E funding round led by private equity firm Francisco Partners.

The firm didn’t participate in any of Redis Labs’ previous rounds, but existing investors Goldman Sachs Private Capital Investing, Bain Capital Ventures, Viola Ventures and Dell Technologies Capital all participated in this round.

In total, Redis Labs has now raised $146 million and the company plans to use the new funding to accelerate its go-to-market strategy and continue to invest in the Redis community and product development.

Current Redis Labs users include the likes of American Express, Staples, Microsoft, Mastercard and Atlassian . In total, the company now has over 8,500 customers. Because it’s pretty flexible, these customers use the service as a database, cache and message broker, depending on their needs. The company’s flagship product is Redis Enterprise, which extends the open-source Redis platform with additional tools and services for enterprises. The company offers managed cloud services, which give businesses the choice between hosting on public clouds like AWS, GCP and Azure, as well as their private clouds, in addition to traditional software downloads and licenses for self-managed installs.

Redis Labs CEO Ofer Bengal told me that the company’s isn’t cash positive yet. He also noted that the company didn’t need to raise this round but that he decided to do so in order to accelerate growth. “In this competitive environment, you have to spend a lot and push hard on product development,” he said.

It’s worth noting that he stressed that Francisco Partners has a reputation for taking companies forward and the logical next step for Redis Labs would be an IPO. “We think that we have a very unique opportunity to build a very large company that deserves an IPO,” he said.

Part of this new competitive environment also involves competitors that use other company’s open source projects to build their own products without contributing back. Redis Labs was one of the first of a number of open source companies that decided to offer its newest releases under a new license that still allows developers to modify the code but that forces competitors that want to essentially resell it to buy a commercial license. Ofer specifically notes AWS in this context. It’s worth noting that this isn’t about the Redis database itself but about the additional modules that Redis Labs built. Redis Enterprise itself is closed-source.

“When we came out with this new license, there were many different views,” he acknowledged. “Some people condemned that. But after the initial noise calmed down — and especially after some other companies came out with a similar concept — the community now understands that the original concept of open source has to be fixed because it isn’t suitable anymore to the modern era where cloud companies use their monopoly power to adopt any successful open source project without contributing anything to it.”

Senseon raises $6.4M to tackle cybersecurity threats with an AI ‘triangulation’ approach

Posted by on 19 February, 2019

This post was originally published on this site

Darktrace helped pave the way for using artificial intelligence to combat malicious hacking and enterprise security breaches. Now a new UK startup founded by an ex-Darktrace executive has raised some funding to take the use of AI in cybersecurity to the next level.

Senseon, which has pioneered a new model that it calls “AI triangulation” — simultaneously applying artificial intelligence algorithms to oversee, monitor and defend an organization’s network appliances, endpoints, and ‘investigator bots’ covering multiple microservices — has raised $6.4 million in seed funding.

David Atkinson — the startup’s CEO and founder who had previously been the commercial director for Darktrace and before that helped pioneer new cybersecurity techniques as an operative at the UK’s Ministry of Defense — said that Senseon will use the funding to continue to expand its business both in Europe and the US. 

The deal was co-led by MMC Ventures and Mark Weatherford, who is chief cyber security strategist at vArmour (which itself raised money in recent weeks) and previously Deputy Under Secretary for Cybersecurity, U.S. Department of Homeland Security. Others in the round included Amadeus Capital Partners, Crane Venture Partners and CyLon, a security startup incubator in London.

As Atkinson describes it, triangulation was an analytics concept first introduced by the CIA in the US, a method of bringing together multiple vectors of information to unearth inconsistencies in a data set (you can read more on triangulation in this CIA publication). He saw an opportunity to build a platform that took the same kind of approach to enterprise security.

There are a number of companies that are using AI-based techniques to help defend against breaches — in addition to Darktrace, there is Hexadite, a remediation specialist acquired by Microsoft, Amazon’s working in the field, and many others. In fact I think you’d be hard-pressed to find any IT security company today that doesn’t claim to or actually use AI in its approach.

Atkinson claims, however, that many AI-based solutions — and many other IT security products — take siloed, single-point approaches to defending a network. That is to say, you have network appliance security products, endpoint security, perhaps security for individual microservices so on.

But while many of these work well, you don’t always get those different services speaking to each other. And that doesn’t reflect the shape that the most sophisticated security breaches are taking today:

As cybersecurity breaches  and identified vulnerabilities continue to grow in frequency and scope — with hundreds of millions of individuals’ and organizations’ data potentially exposed in the process, systems disabled, and more — we’re seeing an increasing amount of sophistication on the part of the attackers.

Yes, those malicious actors employ artificial intelligence. But — as described in this 2019 paper on the state of cybersecurity from Symantec — they are also taking advantage of bigger “surface areas” with growing networks of connected objects all up for grabs; and they are tackling new frontiers like infiltrating data in transport and cloud-based systems. (In terms of examples of new frontiers, mobile networks, biometric data, gaming networks, public clouds, and new card skimming techniques are some of the specific areas that Experian calls out.)

Senseon’s antidote has been to build a new platform that “emulates how analysts think,” said Atkinson. Looking at an enterprise’s network appliance, an endpoint, and microservices in the cloud, the Senseon platform “has an autonomous conversation” using the source data, before it presents a conclusion, threat, warning or even breach alert to the organization’s security team.

“We have an ability to take observations and compare that to hypothetical scenarios. When we tell you something, it has a rich context,” he said. Single-point alternatives essentially can create “blind spots that hackers and manoeuvre around. Relying on single-source intelligence is like tying one hand behind your back.”

After Senseon compiles its data, it sends out alerts to security teams in a remediation service. Interestingly, while the platform’s aim is to identify malicious activity in a network, another consequence of what it’s doing is to help organizations identify “false positives” that are not actually threats, to cut down on time and money that get wasted on investigating those.

“Organisations of all sizes need to get better at keeping pace with emerging threats, but more importantly, identifying the attacks that require intervention,” said Mina Samaan of MMC Ventures in a statement. “Senseon’s technology directly addresses this challenge by using reinforcement learning AI techniques to help over-burdened security teams better understand anomalous behaviour through a single holistic platform.”

Although Senseon is only announcing seed funding today, the company has actually been around since 2017 and already has customers, primarily in the finance and legal industries (it would only give out one customer reference, the law firm of Harbottle & Lewis).

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