World business news 30.06-05.07

JupiterOne raises $70 million at a $1 billion valuation to assist in the tracking, management, and security of complex cyber assets

One of the unintended consequences of today’s IT settings — which can include several clouds and data warehouses, on-premise servers, dozens or even millions of linked devices and users, a plethora of apps, and more — is that security is a minefield. Because malicious hackers have so many potential points of entry to exploit, security experts must have a thorough picture of how things are looking across the entire network – no matter how fragmented those activities may be.

JupiterOne, a business that has established a platform that intends to accomplish just that, is announcing $70 million in fundraising at a valuation of over $1 billion – an indication that the industry is maturing.

Athleisure superstar, Ty Haney’s blockchain incentives firm has raised $9.8 million in new funding

Ty Haney, the founder of Outdoor Voices, built a name for herself by making sportswear fashionable for non-athletes. Now, the 33-year-old entrepreneur is betting on another underappreciated pairing: consumer brands and cryptocurrency.
Haney disclosed for the first time on the Chain Reaction show that her new company was set to close its second institutional fundraising round. TYB has closed on a $9.8 million round since we recorded the show, with current investors Unusual Ventures, Sogal Ventures, and Castle Island all participating.

Pinterest has acquired The Yes, an AI-powered shopping firm co-founded by a former Stitch Fix executive

Pinterest announced this afternoon that it is acquiring The Yes, an AI-powered fashion buying business launched by e-commerce veteran and former Stitch Fix COO Julie Bornstein and technical co-founder Amit Aggarwal, as part of its efforts to improve the online shopping experience on its platform. The acquisition will help Pinterest form a new strategic division to assist drive the business’s shopping operations, including the creation of services for both customers and retailers, according to the company.

Reco raises $30 million to avoid data breaches

Reco (also known as RecoLabs), a company that uses artificial intelligence to map a company’s data sharing, announced today that it has raised $30 million in a Series A round led by Insight Partners and Zeev Ventures, with BoldStart, Angular Ventures, Jibe Ventures, CrewCapital, and Cyber Club London participating. The funds will go into product development and supporting the company’s go-to-market activities, according to CEO Ofer Klein.

‘Yep,’ SEO tool Ahrefs invests $60 million in developing a creator-friendly search engine

Well, this is straight from the “didn’t see that coming” desk, but Ahrefs, a search engine toolkit firm, just told me they’ve been secretly working on their own search engine, called Yep, and have put $60 million into it. It’s a one-of-a-kind offering, as it runs its own search index rather than relying on Google or Bing APIs.

Tesla’s stock has dropped as a result of the information that has been leaked. An email from the CEO exposes a recruiting freeze and plans to lay off 10% of the workforce

As you’ll see further down in our fair email, it’s been a busy week for layoffs and hiring freezes. So it’s maybe not surprising that, after encouraging Tesla staff to get to work, Elon Musk has now directed bosses to put a stop on salaried employee hiring. Not only did the announcement affect Tesla stock, but it also provided President Joe Biden with material for his next employment reAs you’ll see further down in our fair email, it’s been a busy week for layoffs and hiring freezes. So it’s maybe not surprising that, after encouraging Tesla staff to get to work, Elon Musk has now directed bosses to put a stop on salaried employee hiring. Not only did the announcement affect Tesla stock, but it also provided President Joe Biden with material for his next employment report.

Constrafor secures $106 million in cash and credit to fund construction subcontractors

“When subcontractors are employed on a project, they submit an invoice after the first month of work is completed, and they wait an average of 45 to 60 days — even up to 80 days — to get paid,” he explained. “In the meantime, they’re buying equipment and taking out loans to be able to complete all of this work.” You’re not getting a good deal on a loan, either, because most banks don’t even look at them.”

Constrafor, a SaaS construction procurement platform with embedded financing, streamlines information and documentation for how general contractors work with subcontractors, while its Early Pay Program assumes the risk for the subcontractor invoice, freeing up cash flow and reducing reliance on traditional and expensive lending options. Constrafor is then reimbursed by the general contractor for the invoice.

Novoloop, a plastic upcycling business, has raised $10 million in a Series A round. An extension to speed up the commercialization process

According to Wang of TechCrunch, Novoloop will use the $21 million Series A funding to scale up runs of its chemical process above the 1 metric ton scale and set up a feedstock pretreatment unit in California later this year to get pilot product Oistre thermoplastic polyurethane (TPU) customers faster. According to Wang, the feedstock pretreatment machine takes unclean plastic and shreds it to make immediately useable feedstock for its chemistry, allowing it to access polyethylene from multiple post-consumer sources in preparation for commercial sourcing.

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