Kadena brings free private blockchain service to Azure Marketplace

Posted by on 27 August, 2019

This post was originally published on this site

The hype around blockchain seems to have cooled a bit, but companies like Kadena have been working on enterprise-grade solutions for some time, and continue to push the technology forward. Today, the startup announced that Kadena Scalable Permissioned Blockchain on Azure is available for free in the Azure Marketplace.

Kadena co-founder and CEO Will Martino says today’s announcement builds on the success of last year’s similar endeavor involving AWS. “Our private chain is designed for enterprise use. It’s designed for being high performance is designed for integrating with traditional back ends. And by bringing that chain to AWS marketplace, and now to Microsoft Azure, we are servicing almost all of the enterprise blockchain market that takes place in the cloud,” Martino told TechCrunch.

The free product enables companies to get comfortable with the technology and build a Proof of Concept (PoC) without making a significant investment in the tooling. The free tool provides 2000 transactions a second across 4 nodes. Once companies figure this out and want to scale, that’s when the company begins making money, but Martino recognizes that the technology is still immature and companies need to get comfortable with it, and that’s what the free versions on the cloud platforms like Azure are encouraging.

Martino says Kadena favors a hybrid approach to enterprise blockchain that combines public and private chains, and in his view, gives customers the best of both worlds. “You can run a smart contract on our public chain Web protocol that will be launching on October 30th, and that smart contract can be linked to a cluster of private permission chain nodes that are running the other half of the application. This allows you to have all of the market access and openness and transparency and ownerlessness of a public network, while also having the control and the security that you find in a private network,” he said.

Martino and co-founder Stuart Popejoy both worked at JPMorgan on early blockchain projects, but left to start Kadena in 2016. The company has raised $14.9 million to date.

Posted Under: Tech News
Axonius, a cybersecurity asset management startup, raises $20M in Series B

Posted by on 27 August, 2019

This post was originally published on this site

Cybersecurity asset management startup Axonius has raised $20 million in its second round of funding this year.

Venture capital firm OpenView led the Series B, joining existing investors in bringing $37 million to date following the startup’s $13 million Series A in February.

The security startup, founded in 2017, helps companies keep track of their enterprise assets, such as how many clouds, computers and devices are on their network. The logic goes that if you know what you have — including devices plugged into your network by employees or guests — you can keep track and discover holes in your enterprise security. That insight allows enterprises to enforce security policies to keep the rest of the network safe — like installing endpoint security software, or blocking devices from connecting to the network altogether.

Axonius’ co-founder and chief executive Dean Sysman said the company takes a different approach to asset management.

“You can’t secure what you don’t know about,” he told TechCrunch. “Almost everything you’re doing in security relies on a foundation of knowing your assets and how they stack up against your security policies. Once you get that foundation taken care of, everything else you do will benefit,” he said.

Instead, Axonius integrates with over a hundred existing security and management solutions to build up a detailed picture of an entire organization.

Clearly it’s a strategy that’s paying off.

The company already has big-name clients like The New York Times and Schneider Electric, as well as a handful of customers in the Fortune 500.

Sysman said the bulk of the funding will go towards the expansion of its sales and marketing teams but also the continued improvement and development of its product. “We’re hitting the gas and continuing to bring our solution to as many organizations in the market as we can,” he said.

Axonius said OpenView partner Mackey Craven, who focuses on cloud computing and enterprise infrastructure companies, will join the board of directors following the fundraise.

Posted Under: Tech News
Sweden’s Hedvig raises $10.4M led by Obvious Ventures to build “nice insurance”

Posted by on 27 August, 2019

This post was originally published on this site

Hedvig, a Swedish startup, is following in the footsteps of Lemonade building a new generation of insurance platforms that use AI to help evaluate customers and operate on a policy of using surplus for social good, and today the company announced the next stage of its growth. The startup has closed a SEK100 million ($10.4 million) round of funding to expand from its current offering of property insurance into a wider range of categories, and begin the costly process of expanding its business into more countries beyond its home market.

The funding values the company at SEK342 million ($35.5 million) — a modest figure considering Lemonade’s recent $300 million round, reportedly (per PitchBook) at a $2.1 billion post-money valuation — but helps position the company to set its sights on being a strong regional player (if not an acquisition target for Lemonade if it wants to quickly add on new regions: the latter kicked off its first services in Europe earlier this year, so its global aspirations are clear).

It currently has 15,000 customers in its home market of Sweden, who use it for property insurance on rented or owned apartments, and Lucas Carlsen, the co-founder and CEO, said in an emailed interview with TechCrunch that it “definitely” plans to expand that to houses as well as other categories. Home insurance also covers contents such as gadgets and travel, and Carlsen said that the former (gadgets) accounts for the majority of claims at the moment.

The round was led by Obvious Ventures, the venture fund co-founded by Twitter/Medium/Blogger co-founder Ev Williams, with D-Ax, the early stage investment arm of Swedish retail giant Axel Johnson Group, also participating, along with past investor Cherry Ventures.

“We are building a global company. We just started in Sweden since we happened to live here, and it serves as a good test market as we have some of the worlds’ most progressive and demanding consumers. Today, we do not have any news to share about future markets, but stay tuned!” said Carlsen.

“The new funding will mainly be used to fuel growth in Sweden, but we’ll also be looking at extending into new markets and insurance categories. Insurance is capital intensive and our new partners are committed to supporting our long-term vision,” he continued.

Indeed, getting an investor like Obvious (which published its own short announcement about the investment, on Medium) involved could open the door to introductions with a number of other investors down the road.

Hedvig is harnessing its purpose, the power of AI, and its human-centered product to create a modern, full-stack insurance company. Their incredible team is delivering against the mission – to give people the world’s most incredible insurance experience – and we at Obvious are honored to help scale it further,” said Vishal Vasishth, one of Obvious Ventures’ other co-founders, in a statement.

Hedvig — named, Carlsen said, after a legend of “someone who stood up for others and fought for their causes: that’s what we do,” — will sound familiar to you if you know Lemonade.

It follows in a wave of more socially-forward businesses that are being created, which are using technology to help disrupt the status quo but also to bridge the gap between building services that consumers need, and the principles that they would like to adhere to more if possible. (Other examples include the likes of Beyond Meat, which is also backed by Obvious; as well as the plethora of electric and hybrid vehicle makers; and more.)

In the case of Hedvig and the challenge of insurance, the proposition goes like this:

Hedvig uses technology and innovative algorithms to help assess a potential customer, who is then provided with lowest-cost, and often competitively priced, premiums. Then, as a “full-stack” digital company, it also uses its algorithms to help process claims. Then, after Hedvig uses its bigger pot of money to pay out claims, the annual surplus is donated to charities selected by its customers.

“By not pocketing this money ourselves we can focus on providing the best service possible to you and not on making more money from denying claims,” Carlsen said.

Hedvig itself makes money by taking a cut off users’ monthly premiums (it doesn’t specify how much). To date, Hedvig has not disclosed how much it has been able to “give back” according to its business model. But the philosophy is that by digitising some of the more mundane processes that are relegated to human adjustors and customer agents at traditional agencies — and by not being inherently greedy — the startup is able to provide a more pleasant, more efficient, and more conscionable service.

Posted Under: Tech News
Oracle files new appeal over Pentagon’s $10B JEDI cloud contract RFP process

Posted by on 26 August, 2019

This post was originally published on this site

You really have to give Oracle a lot of points for persistence, especially where the $10 billion JEDI cloud contract procurement process is concerned. For more than a year, the company has been complaining  across every legal and government channel it can think of. In spite of every attempt to find some issue with the process, it has failed every time. That did not stop it today from filing a fresh appeal of last month’s federal court decision that found against the company.

Oracle refuses to go quietly into that good night, not when there are $10 billion federal dollars on the line, and today the company announced it was appealing Federal Claims Court Senior Judge Eric Bruggink’s decision. This time they are going back to that old chestnut that the single-award nature of the JEDI procurement process is illegal:

“The Court of Federal Claims opinion in the JEDI bid protest describes the JEDI procurement as unlawful, notwithstanding dismissal of the protest solely on the legal technicality of Oracle’s purported lack of standing. Federal procurement laws specifically bar single award procurements such as JEDI absent satisfying specific, mandatory requirements, and the Court in its opinion clearly found DoD did not satisfy these requirements. The opinion also acknowledges that the procurement suffers from many significant conflicts of interest. These conflicts violate the law and undermine the public trust. As a threshold matter, we believe that the determination of no standing is wrong as a matter of law, and the very analysis in the opinion compels a determination that the procurement was unlawful on several grounds,” Oracle’s General Counsel Dorian Daley said in a statement.

In December, Oracle sued the government for $10 billion, at the time focusing mostly on a perceived conflict of interest involving a former Amazon employee named Deap Ubhi. He worked for Amazon prior to joining the DOD, where he worked on a committee of people writing the RFP requirements, and then returned to Amazon later. The DOD investigated this issue twice, and found no evidence he violated federal conflict of interest of laws.

The court ultimately agreed with the DOD’s finding last month, ruling that Oracle had failed to provide evidence of a conflict, or that it had impact on the procurement process. Judge Bruggink wrote at the time:

We conclude as well that the contracting officer’s findings that an organizational conflict of interest does not exist and that individual conflicts of interest did not impact the procurement, were not arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law. Plaintiff’s motion for judgment on the administrative record is therefore denied.

The company started complaining and cajoling even before the JEDI RFP process started. The Washington Post reported that Oracle’s Safra Catz met with the president in April, 2018 to complain that the process was unfairly stacked in favor of Amazon, which happens to be the cloud market share leader by a significant margin, with more than double that of its next closest rival, Microsoft.

Later, the company filed an appeal with the Government Accountability Office, which found no issue with the RFP process. The DOD, which has insisted all along there was no conflict in the process, also did in an internal investigation and found no wrong-doing.

The president got involved last month when he ordered Defense Secretary Mark T. Esper to look into the idea that, once again, the process has favored Amazon. That investigation is ongoing. The DOD did name two finalists, Amazon and Microsoft, in April, but has yet to name the winner as the protests, court cases and investigations continue.

The controversy in part involves the nature of the contract itself. It is potentially a decade-long undertaking to build the cloud infrastructure for the DOD, involves the award of a single vendor (although there are several opt-out clauses throughout the term of the contract) and involves $10 billion and the potential for much more government work. That every tech company is salivating for that contract is hardly surprising, but Oracle alone continues to protest at every turn.

The winner was supposed to be announced this month, but with the Pentagon investigation in progress, and another court case underway, it could be some time before we hear who the winner is.

Posted Under: Tech News
IBM’s quantum-resistant magnetic tape storage is not actually snake oil

Posted by on 26 August, 2019

This post was originally published on this site

Usually when someone in tech says the word “quantum,” I put my hands on my ears and sing until they go away. But while IBM’s “quantum computing safe tape drive” nearly drove me to song, when I thought about it, it actually made a lot of sense.

First of all, it’s a bit of a misleading lede. The tape is not resistant to quantum computing at all. The problem isn’t that qubits are going to escape their cryogenic prisons and go interfere with tape drives in the basement of some datacenter or HQ. The problem is what these quantum computers may be able to accomplish when they’re finally put to use.

Without going too deep down the quantum rabbit hole, it’s generally acknowledged that quantum computers and classical computers (like the one you’re using) are good at different things — to the point where in some cases, a problem that might take incalculable time on a traditional supercomputer could be done in a flash on quantum. Don’t ask me how — I said we’re not going down the hole!

One of the things quantum is potentially very good at is certain types of cryptography: It’s theorized that quantum computers could absolutely smash through many currently used encryption techniques. In the worst case scenario, that means that if someone got hold of a large cache of encrypted data that today would be useless without the key, a future adversary may be able to force the lock. Considering how many breaches there have been where the only reason your entire life wasn’t stolen was because it was encrypted, this is a serious threat.

quantum tapeIBM and others are thinking ahead. Quantum computing isn’t a threat right now, right? It isn’t being seriously used by anyone, let alone hackers. But what if you buy a tape drive for long-term data storage today, and then a decade from now a hack hits and everything is exposed because it was using “industry standard” encryption?

To prevent that from happening, IBM is migrating its tape storage over to encryption algorithms that are resistant to state of the art quantum decryption techniques — specifically lattice cryptography (another rabbit hole — go ahead). Because these devices are meant to be used for decades if possible, during which time the entire computing landscape can change. It will be hard to predict exactly what quantum methods will emerge in the future, but at the very least you can try not to be among the low-hanging fruit favored by hackers.

The tape itself is just regular tape. In fact, the whole system is pretty much the same as you’d have bought a week ago. All the changes are in the firmware, meaning earlier drives can be retrofitted with this quantum-resistant tech.

Quantum computing may not be relevant to many applications today, but next year who knows? And in ten years, it might be commonplace. So it behooves companies like IBM, which plan to be part of the enterprise world for decades to come, to plan for it today.

Posted Under: Tech News
Why now is the time to get ready for quantum computing

Posted by on 26 August, 2019

This post was originally published on this site

For the longest time, even while scientists were working to make it a reality, quantum computing seemed like science fiction. It’s hard enough to make any sense out of quantum physics to begin with, let alone the practical applications of this less than intuitive theory. But we’ve now arrived at a point where companies like D-Wave, Rigetti, IBM and others actually produce real quantum computers.

They are still in their infancy and nowhere near as powerful as necessary to compute anything but very basic programs, simply because they can’t run long enough before the quantum states decohere, but virtually all experts say that these are solvable problems and that now is the time to prepare for the advent of quantum computing. Indeed, Gartner just launched a Quantum Volume metric, based on IBM’s research, that looks to help CIOs prepare for the impact of quantum computing.

To discuss the state of the industry and why now is the time to get ready, I sat down with IBM’s Jay Gambetta, who will also join us for a panel on Quantum Computing at our TC Sessions: Enterprise event in San Francisco on September 5, together with Microsoft’s Krysta Svore and Intel’s Jim Clark.

Posted Under: Tech News
VMware is bringing VMs and containers together, taking advantage of Heptio acquisition

Posted by on 26 August, 2019

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At VMworld today in San Francisco, VMware introduced a new set of services for managing virtual machines and containers in a single view called Tanzu. The product takes advantage of the knowledge the company gained when it acquired Heptio last year.

As companies face an increasingly fragmented landscape of maintaining traditional virtual machines, alongside a more modern containerized Kubernetes environment, managing the two together has created its own set of management challenges for IT. This is further complicated by trying to manage resources across multiple clouds, as well as the in-house data centers. Finally, companies need to manage legacy applications, while looking to build newer containerized applications.

VMware’s Craig McLuckie and fellow Heptio co-founder, Joe Beda, were part of the original Kubernetes development team They came to VMware via last year’s acquisition. McLuckie believes that Tanzu can help with all of this by applying the power of Kubernetes across this complex management landscape.

“The intent is to construct a portfolio that has a set of assets that cover every one of these areas, a robust set of capabilities that bring the Kubernetes substrate everywhere — a control plane that enables organizations to start to think about [and view] these highly fragmented deployments with Kubernetes [as the] common lens, and then the technologies you need to be able to bring existing applications forward and to build new application and to support third party vendors bringing their applications into [this],” McLuckie explained.

It’s an ambitious vision that involves bringing together not only VMware’s traditional VM management tooling and Kubernetes, but also open source pieces and other recent acquisitions including Bitnami and Cloud Health along with Wavefront, which it acquired in 2017. Although the vision was defined long before the acquisition of Pivotal last week, it will also play a role in this. Originally that was as a partner, but now it will be as part of VMware.

The idea is to eventually cover the entire gamut of building, running and managing applications in the enterprise. Among the key pieces introduced today as technology previews are the Tanzu Mission Control, a tool for managing Kubernetes clusters wherever the live and Project Pacific, which embeds Kubernetes natively into VSphere, the company’s virtualization platform, bringing together virtual machines and containers.

Screenshot 2019 08 26 08.07.38 1

VMware Tanzu. Slide: VMware

McLuckie sees bringing virtual machine and Kubernetes together in this fashion provides a couple of key advantages. “One is being able to bring a robust, modern API-driven way of thinking about accessing resources. And it turns out that there is this really good technology for that. It’s called Kubernetes. So being able to bring a Kubernetes control plane to Vsphere is creating a new set of experiences for traditional VMware customers that is moving much closer to a kind of cloud-like agile infrastructure type of experience. At the same time, Vsphere is bringing a whole bunch of capabilities to Kubernetes that’s creating more efficient isolation capabilities,” he said.

When you think about the cloud native vision, it has always been about enabling companies to manage resources wherever they live through a single lens, and this is what this set of capabilities that VMware has brought together under Tanzu, is intended to do. “Kubernetes is a way of bringing a control metaphor to modern IT processes. You provide an expression of what you want to have happen, and then Kubernetes takes that and interprets it and drives the world into that desired state,” McLuckie explained.

If VMware can take all of the pieces in the Tanzu vision and make this happen, it will be as powerful as McLuckie believes it to be. It’s certainly an interesting attempt to bring all of a company’s application and infrastructure creation and management under one roof using Kubernetes as the glue, and with Heptio co-founders McLuckie and Beda involved, it certainly has the expertise in place to drive the vision.

Posted Under: Tech News
Nvidia and VMware team up to make GPU virtualization easier

Posted by on 26 August, 2019

This post was originally published on this site

Nvidia today announced that it has been working with VMware to bring its virtual GPU technology (vGPU) to VMware’s vSphere and VMware Cloud on AWS. The company’s core vGPU technology isn’t new, but it now supports server virtualization to enable enterprises to run their hardware-accelerated AI and data science workloads in environments like VMware’s vSphere, using its new vComputeServer technology.

Traditionally (as far as that’s a thing in AI training), GPU-accelerated workloads tend to run on bare metal servers, which were typically managed separately from the rest of a company’s servers.

“With vComputeServer, IT admins can better streamline management of GPU accelerated
virtualized servers while retaining existing workflows and lowering overall operational costs,” Nvidia explains in today’s announcement. This also means that businesses will reap the cost benefits of GPU sharing and aggregation, thanks to the improved utilization this technology promises.

vComputeServer works with VMware Sphere, vCenter and vMotion, as well as VMware Cloud. Indeed, the two companies are using the same vComputeServer technology to also bring accelerated GPU services to VMware Cloud on AWS. This allows enterprises to take their containerized applications and from their own data center to the cloud as needed — and then hook into AWS’s other cloud-based technologies.

2019 08 25 1849

“From operational intelligence to artificial intelligence, businesses rely on GPU-accelerated computing to make fast, accurate predictions that directly impact their bottom line,” said Nvidia founder and CEO Jensen Huang . “Together with VMware, we’re designing the most advanced and highest performing GPU- accelerated hybrid cloud infrastructure to foster innovation across the enterprise.”

Posted Under: Tech News
How Pivotal got bailed out by fellow Dell family member, VMware

Posted by on 23 August, 2019

This post was originally published on this site

When Dell acquired EMC in 2016 for $67 billion, it created a complicated consortium of interconnected organizations. Some, like VMware and Pivotal, operate as completely separate companies. They have their own boards of directors, can acquire companies and are publicly traded on the stock market. Yet they work closely within the Dell, partnering where it makes sense. When Pivotal’s stock price plunged recently, VMware saved the day when it bought the faltering company for $2.7 billion yesterday.

Pivotal went public last year, and sometimes struggled, but in June the wheels started to come off after a poor quarterly earnings report. The company had what MarketWatch aptly called “a train wreck of a quarter.”

How bad was it? So bad that its stock price was down 42% the day after it reported its earnings. While the quarter itself wasn’t so bad, with revenue up year over year, the guidance was another story. The company cut its 2020 revenue guidance by $40-$50 million and the guidance it gave for the upcoming 2Q19 was also considerably lower than consensus Wall Street estimates.

The stock price plunged from a high of $21.44 on May 30th to a low of $8.30 on Aug 14th. The company’s market cap plunged in that same time period falling from $5.828 billion on May 30th to $2.257 billion on Aug 14th. That’s when VMware admitted it was thinking about buying the struggling company.

Posted Under: Tech News
Ping Identity files for $100M IPO on Nasdaq under the ticker ‘Ping’

Posted by on 23 August, 2019

This post was originally published on this site

Some eight months after it was reported that Ping Identity’s owners Vista Equity had hired bankers to explore a public listing, today Ping Identity took the plunge: the Colorado-based online ID management company has filed an S-1 form indicating that it plans to raise up to $100 million in an IPO on the Nasdaq exchange under the ticker “Ping.”

While the initial S-1 filing doesn’t have an indication of price range, Ping is said to be looking at a valuation of between $2 billion and $3 billion in this listing.

The company has been around since 2001, founded by Andre Durand (who is still the CEO), and it was acquired by Vista in 2016 for about $600 million — at a time when a clutch of enterprise companies that looked like strong IPO candidates were going the private equity route and staying private instead.

But more recently, there has been a surge in demand for better IT security linked to identity and authentication management, so it seems that Vista Equity is selling up. The PE firm is taking advantage of the fact that the market’s currently very strong for tech IPOs, but there is so much M&A in enterprise right now (just yesterday VMware acquired not one but two companies, Carbon Black for $2.1 billion and Pivotal for $2.7 billion) that I can’t help but wonder if something might move here too.

The S-1 reveals a number of details on the company’s financials, indicating that it’s currently unprofitable but on a steady growth curve. Ping had revenues of $112.9 million in the first six months of 2019, versus $99.5 million in the same period a year before. Its loss has been shrinking in recent years, with a net loss of $3.1 million in the first six months of this year versus $5.8 million a year before (notably in 2017 overall it was profitable with a net income of $19 million. It seems that the change is due to acquisitions and investing for growth).

Its annual run rate, meanwhile, $198 million for the first six months of the year, compared to $159.6 million in the same period a year ago.

The area of identity and access management has become a cornerstone of enterprise IT, with companies looking for efficient and secure ways to centralise how not just their employees, but their customers, their partners and various connected devices on their networks can be authenticated across their cloud and on-premise applications.

The demand for secure solutions covering all the different aspects of a company’s IT stack has grown rapidly over recent years, spurred not just by an increased move to centralised applications served through the cloud, but also by the drastic rise in breaches where malicious hackers have exploited vulnerabilities and loopholes in companies’ sign-on screens.

Ping has been one of the bigger companies building services in this area and tackling all of those use cases, competing with the likes of Okta, OneLogin, AuthO, Cisco, and dozens more off-the-shelf and custom-built solutions.

The company offers its services on an SaaS basis, covering services like secure sign-on, multi-factor authentication, API access security, personalised and unified profile directories, data governance and AI-based security policies. It claims to be the pioneer of “Intelligent Identity”, using AI to help its system analyse user, device and network behavior to better identify potentially malicious activity.

More to come.

 

 

Posted Under: Tech News
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