Although I remain concerned about lofty IT startup valuations and those so-called Billion Dollar Unicorns, it's still good to see venture capital and angel dollars flowing toward tech startups. Here are six such examples that caught my attention this week...
1. Duo Security (Ann Arbor, Mich.), a two-factor authentication specialist, has raised $30 million led by Redpoint Ventures. I thought biometrics would end the need for two-factor authentication. But perhaps I don't have my finger on the true pulse of IT security.
2. Illumio (Sunnyvale, Calif.), an application-centric security startup, has raised $100 million from multiple backers. The twist: Illumio says it can safeguard traditional IT applications -- and cloud applications.
3. Khorus (Austin, Texas), which develops a business management system for CEOs, has raised $4 million in Series A funding led by its founder as well as an angel investor. I'm surprised more software and cloud startups don't specifically target CEOs with their wares.
4. Movidius (San Mateo, Calif.), focused on visual sensors for computers, has raised $40 million led by Summit Bridge Capital. My big question: What will Movidius potentially do with all of the visual sensor data the company's products collect? Is this actually a big data play?
5. Soha Systems (Sunnyvale, Calif.), which offers security services for applications in any cloud, raised $9.8 million from multiple backers. In my mind, wrapping security around third-party cloud platforms seems to be the next big IT security opportunity.
6. Stem (Millbrae, Calif.), focused on battery power that cuts corporate electric bills, raised $12 million in Series C funding. Multiple investors participated in the round. I'm not sure how many businesses want to install on-premises battery systems. But... if there's an ROI...
If you're a tech startup that just raised money, send me a heads up (Joe@AfterNines.com) and we'll be sure to give the news a look.
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