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Explainer: California reopens, mostly, on Tuesday
  + stars: | 2021-06-15 | by ( Jane Lee | ) www.reuters.com + 0.00   time to read: +3 min
A man walks down a street in Encinitas, as California Governor Gavin Newsom said his state would keep its mask order in place for another month, in California, U.S., May 17, 2021. Here is what's changing for California offices, and what's not. Workplace rules are dictated by the California Occupational Safety and Health Standards Board, which has debated keeping restrictions in place longer than the governor. Under the newest proposal, which will be voted on June 17, fully vaccinated office workers won’t need to wear a mask in normal circumstances. Many are waiting until after the Labor Day holiday, on Sept. 7, or even 2022, to reopen offices fully.
Persons: Gavin Newsom, Mike Blake California, what's, Newsom, Francisco’s, Salesforce Organizations: REUTERS, California Occupational Safety, Health, Board, BIG, Tech, Labor, Twitter, Google, Facebook Inc, Apple, U.S . Centers for Disease Control, Thomson Locations: Encinitas, California, U.S, COVID, Silicon Valley, San Francisco , New York, Paris, London
Talent matching startup Eightfold AI's logo is seen outside its office building in Mountain View, California, U.S. in this undated handout photo. Eightfold AI/Handout via REUTERSEightfold AI, a talent matching platform, said on Thursday it raised $220 million in a funding round led by SoftBank Group Corp's (9984.T) Vision Fund 2 that doubled the company's valuation since the previous funding round to over $2 billion. The profile will help employees find other suitable jobs within the company or help managers identify them for promotions or new jobs. He said over 100 companies and some U.S. states are customers, and that Eightfold AI is used in over 110 countries and available in 15 languages. Deep Nishar, senior managing partner at SoftBank Investment Advisers, said Eightfold AI took a more holistic approach than other companies offering solutions to recruitment and career management.
Persons: , Ashutosh Garg, Garg, siad Organizations: REUTERS, SoftBank Group, Indiana Department of Workforce Development, SoftBank Investment, Thomson Locations: Mountain View , California, U.S
Online wholesale marketplace Faire raises $260 mln, valued at $7 bln
  + stars: | 2021-06-10 | by ( Jane Lee | ) www.reuters.com + 1.00   time to read: +2 min
An Apt F retailer goes wholesale shopping on the Faire platform that connects small brands with small retailers in this picture taken in Austin, U.S., August 2019. Faire/Handout via REUTERSOnline wholesale marketplace Faire said on Thursday it raised $260 million in its latest funding round and is now valued at $7 billion, thanks to the fast growth in e-commerce following the pandemic. Faire helps small retailers connect with small brands, helping them to compete with retail giants like Amazon.com Inc (AMZN.O) or Walmart Inc (WMT.N), said Faire Chief Executive and co-founder Max Rhodes. Following its success in the U.S. market, Faire expanded into Europe three months ago and is seeing fast growth there, said Rhodes. “We're still in the single-digit online penetration for the wholesale market,” said Sequoia partner Ravi Gupta.
Persons: Max Rhodes, , Rhodes, “ We're, Ravi Gupta, , Eric Newcomer Organizations: REUTERS Online, Amazon.com Inc, Walmart Inc, Zealand, Sequoia Capital, Thomson Locations: Austin , U.S, United States, U.S, Europe
An Apt F retailer goes wholesale shopping on the Faire platform that connects small brands with small retailers in this picture taken in Austin, U.S., August 2019. Faire/Handout via REUTERSOnline wholesale marketplace Faire said on Thursday it raised $260 million in its latest funding round and is now valued at $7 billion, thanks to the fast growth in e-commerce following the pandemic. Faire helps small retailers connect with small brands, helping them to compete with retail giants like Amazon.com Inc (AMZN.O) or Walmart Inc (WMT.N), said Faire Chief Executive and co-founder Max Rhodes. Following its success in the U.S. market, Faire expanded into Europe three months ago and is seeing fast growth there, said Rhodes. “We're still in the single-digit online penetration for the wholesale market,” said Sequoia partner Ravi Gupta.
Persons: Max Rhodes, , Rhodes, “ We're, Ravi Gupta, Organizations: REUTERS Online, Amazon.com Inc, Walmart Inc, Zealand, Sequoia Capital, Thomson Locations: Austin , U.S, United States, U.S, Europe
Cybersecurity startup Brinqa raises $110 mln from Insight Partners
  + stars: | 2021-06-08 | by ( Jane Lee | ) www.reuters.com sentiment -0.99   time to read: +1 min
Co-founder and president of cybersecurity startup Brinqa, Hilda Perez poses in a jacket with the company logo in this June 2021 handout photo released June 7, 2021. Brinqa/Handout via REUTERS/FilesBrinqa, a startup that helps businesses map out their cybersecurity applications and alert them of gaps, on Tuesday said it raised $110 million from private equity firm Insight Partners. He declined to share how much the company was valued at, adding only that Insight Partners received a minority stake. The company can then be alerted automatically of any security gaps and in some cases the Brinqa software can change setting on applications to close those gaps, he said. The shortage of cybersecurity talent makes software that can automate a large part of the security work increasingly important, say cybersecurity industry executives.
Persons: Hilda Perez, Amad Fida, Organizations: Insight Partners, Thomson Locations: Handout, Austin , Texas
ID verification startup Trulioo raises $394 mln, valued at $1.75 bln
  + stars: | 2021-06-07 | by ( Jane Lee | ) www.reuters.com + 0.73   time to read: +2 min
Steve Munford, CEO of Trulioo, a Canadian-based startup that provides electronic identity and address verification globally, poses in front of the company logo in this undated handout photo. TRULIOO/Handout via REUTERSTrulioo, a Canadian-based startup that provides electronic identity and address verification globally, said on Monday it raised $394 million in a funding round led by venture capital firm TCV and that it is now valued at $1.75 billion. The mega funding round comes as the pandemic accelerated the digitization of businesses and e-commerce firms and financial firms need ways to verify customers' identities for secure transactions. Trulioo said the U.S. digital identity market is projected to exceed $30 billion by 2023, according to consulting firm One World Identity. Among the participants in the latest funding round, Trulioo said, were existing investors Amex Ventures, Citi Ventures, Blumberg Capital and Mouro Capital.
Persons: Steve Munford, it's, , Jake Reynolds, , Reynolds, Trulioo Organizations: REUTERS Trulioo, Amex Ventures, Citi Ventures, Blumberg Capital, Mouro, Thomson Locations: Canadian, Handout, TCV, Vancouver, U.S
Cybersecurity startup Exabeam raises $200 mln, valued at $2.4 bln
  + stars: | 2021-06-01 | by ( Jane Lee | ) www.reuters.com sentiment -1.00   time to read: +2 min
Exabeam, a Silicon Valley startup that helps companies automate the analysis and monitoring of their cybersecurity data, on Tuesday said it raised $200 million in its latest round of funding which valued the company at $2.4 billion. While venture capital investment in cybersecurity has been rising fast over the years, it got an extra boost during the pandemic as remote work created extra challenges. According to data firm PitchBook, venture funding in cybersecurity hit a record $10.2 billion in 2020 and as of late May 2021 had already reached $8 billion. The funding round was led by the Owl Rock division of Blue Owl Capital Inc (OWL.N), an asset management firm with over $52 billion under management. He said his strategy was to find a company that could become a large standalone business in the cybersecurity space.
Persons: Michael DeCesare, Nir Polak, cybersecurity, , Exabeam, Pravin Vazirani Organizations: REUTERS, Owl, Blue Owl Capital Inc, Blue Owl, Thomson Locations: Foster City , California, U.S, cybersecurity, Exabeam,
Back Market, platform for refurbished tech gadgets, raises $335 million
  + stars: | 2021-05-18 | by ( Jane Lee | ) www.reuters.com sentiment -0.99   time to read: +2 min
Billboards advertising Back Market, a market place for refurbished tech gadgets are seen in New York City, NY, U.S., October 2, 2020. Back Market/Handout via REUTERSBack Market, an online platform for buying, selling and servicing refurbished tech gadgets, said on Tuesday it raised $335 million in its latest funding round which valued the company at $3.2 billion. He estimated the refurbished gadgets market is about $100 billion annually, which includes many of the buy-back programs by smartphone and laptop makers. But there are still many segments like gaming consoles and smart home products that have no easy access to the refurbished market. Back Market has nearly 5 million customers in 13 countries with 1,500 sellers on the platform.
Persons: Thibaud Hug, , Hug, Al Gore Organizations: Atlantic, Generation Investment Management, Thomson Locations: New York City, NY, U.S, France
Product warranty startup Extend raises $260 mln, SoftBank leads funding
  + stars: | 2021-05-18 | by ( Jane Lee | ) www.reuters.com sentiment -0.99   time to read: +2 min
If there is a problem with the product, Extend will handle the claim, in most cases through a customer service chatbot, said Levin. Nagraj Kashyap, managing partner at SoftBank Investment Advisers, said extended warranties and product protection services were ripe for change. Extend, launched in 2019, sold over 300,000 protection plans last year and is on track this year to sell over 3 million plans, Levin said. Merchants that add the Extend button to their online markets also get a cut of the fees, Levin said. Extend estimates that adding the Extend warranty service increases overall product sales by 11%.
Persons: Woodrow Levin, Levin, Nagraj Kashyap Organizations: SoftBank Group, SoftBank Investment, Thomson Locations: San Francisco
AI analog chip startup Mythic raises $70 Million
  + stars: | 2021-05-11 | by ( Jane Lee | ) www.reuters.com sentiment -0.97   time to read: +2 min
Mythic, a startup making artificial intelligence chips for use in gadgets such as smart home devices or security cameras, on Tuesday said it raised $70 million in its latest round of funding. The Redwood City, California-based chip maker started in 2012, uses analog technology for its chips rather than digital. Digital chips store and process data in 1s and 0s, while analog chips can process wave forms such as speech or video and are used to digitize speech and video into 1s and 0s. "With analog compute, we could get that same compute power in a small, low power, low cost chip. The Mythic chip can process the data, such as video, locally and just send key information back to the data center for use if needed, said Henry.
Persons: Mike Henry, Henry Organizations: Nvidia Corp, BlackRock, Hewlett Packard Enterprise, Thomson Locations: Redwood City , California
EXCLUSIVE Kajabi, e-commerce startup for knowledge businesses, raises $550 million
  + stars: | 2021-05-04 | by ( Jane Lee | ) www.reuters.com sentiment -0.99   time to read: +2 min
Kajabi, an e-commerce platform that serves knowledge-based businesses, said on Tuesday it raised $550 million in its latest round of funding led by Tiger Global Management, which puts the company’s valuation at over $2 billion. The mega round comes as the pandemic has given online businesses a boost and shown the potential growth of what some call the “knowledge economy” including business coaches, trainers, podcast and newsletter makers, and more. Kajabi was co-founded in Irvine, California, over a decade ago by Kenny Rueter, who created a sprinkler toy with PVC pipes for his sons. So he made a how-to video for it, but Rueter, a software engineer, wanted to sell the video instead of posting it for free on YouTube. Rueter said the latest funds are to help the company keep up with the “hyper-growth” it has experienced, and that acquisitions are possible.
Persons: Groq, Kajabi, Kenny Rueter, Rueter, Arun Agarwal Organizations: Tiger Global Management, Tiger Global, YouTube, TPG, Thomson Locations: Irvine , California
Global tech show CES, held every year in January in Las Vegas, will return to the physical world in 2022, but organizer Consumer Technology Association said on Wednesday it will be smaller as COVID-19-related travel restrictions are likely to keep companies and crowds at bay. Before the pandemic, CES was the largest annual show in Las Vegas and in 2020 drew about 170,000 attendees with about 4,000 companies exhibiting their technology and gadgets. It will benefit from an extra newly built west hall at the Las Vegas Convention Center that connects to the rest of the center through two one-way 0.8-mile (1.3 km)tunnels built by Elon Musk’s The Boring Company. Visitors will be shuttled through in Tesla cars - with drivers - according to the Las Vegas Convention and Visitors Authority. The tech show will be open to the media from Jan. 3 and to all other attendees from Jan. 5-8.
Persons: Jean Foster, Foster, Elon Musk’s Organizations: Consumer Technology Association, CES, Las Vegas Convention, Elon Musk’s The Boring Company, Visitors, Visitors Authority, Thomson Locations: Las Vegas
UPDATE 1-Self-driving truck startup Plus raises extra $220 million
  + stars: | 2021-03-31 | by ( Reuters Staff | ) www.reuters.com sentiment -0.95   time to read: +2 min
(Adds an investor, paragraph 4)BEIJING/SAN FRANCISCO, March 31 (Reuters) - U.S. autonomous truck startup Plus said on Wednesday it had raised an extra $220 million from investors in an extension of a $200 million funding round in February, as the global auto industry looks to a driverless future. The latest funding round was led by FountainVest Partners and ClearVue Partners, Plus said in a statement. Plus raised $200 million in February from investors such as Guotai Junan International, CPE, and Wanxiang International Investment. The Cupertino-based startup, which was founded in 2016, has a joint venture with China’s state-owned automaker FAW to develop and build autonomous trucks. With the funding it will accelerate its production and deliveries of autonomous trucks and improve research capabilities.
Persons: TuSimple, Yilei Sun, Jane Lee, Tony Munroe, Mark Potter, Jane Merriman Organizations: FRANCISCO, FountainVest Partners, ClearVue Partners, Phi Zoyi, Technology Value Partners, Sequoia Capital China, SAIC, CPE, Wanxiang International Investment, FAW, Luminar Technologies, Yilei Locations: BEIJING, Cupertino, United States, China, Europe, Beijing, San Francisco
Self-driving truck startup Plus raises extra $220 million
  + stars: | 2021-03-31 | by ( Reuters Staff | ) www.reuters.com sentiment -0.97   time to read: +2 min
BEIJING/SAN FRANCISCO, March 31 (Reuters) - U.S. autonomous truck startup Plus said on Wednesday it had raised an extra $220 million from investors in an extension of a $200 million funding round in February, as the global auto industry looks to a driverless future. The latest funding round was led by FountainVest Partners and ClearVue Partners, Plus said in a statement. Plus raised $200 million in February from investors such as Guotai Junan International, CPE, and Wanxiang International Investment. The Cupertino-based startup, which was founded in 2016, has a joint venture with China’s state-owned automaker FAW to develop and build autonomous trucks. With the funding it will accelerate its production and deliveries of autonomous trucks and improve research capabilities.
Persons: TuSimple, Yilei Sun, Jane Lee, Tony Munroe, Mark Potter Organizations: FRANCISCO, FountainVest Partners, ClearVue Partners, Technology Value Partners, Sequoia Capital, SAIC, CPE, Wanxiang International Investment, FAW, Luminar Technologies, Yilei Locations: BEIJING, Cupertino, United States, China, Europe, Beijing, San Francisco
Myth: Covid-19 vaccines are unsafe because they were developed too fastFact: The coronavirus vaccines that are now being deployed have undergone strict and rigorous clinical trials involving thousands of human participants after initial animal trials. Kevin Frayer | Getty Images News | Getty ImagesMyth: Coronavirus vaccines alter DNAFact: The coronavirus vaccines developed by Pfizer-BioNTech and Moderna contain messenger RNA (or mRNA) which instruct our cells how to make a protein that triggers an immune response. Myth: Coronavirus vaccines affect fertilityFact: Some women are concerned that the coronavirus vaccine could harm their fertility and there has been a mass of misinformation online regarding this. A woman receives the vaccination the Pfizer-BioNTech vaccine. Of the data available from animal studies, "no safety concerns were demonstrated in rats that received Moderna COVID-19 vaccine before or during pregnancy; studies of the Pfizer-BioNTech vaccine are ongoing," the CDC said.
Persons: Jane Lee, winces, hesitancy, June Raine, Kevin Frayer, Edward Morris, you've, I've, Covid, Ariana Drehsler Organizations: MediaNews, Boston Herald, Getty, World Health Organization, Pfizer, BioNTech, University of Oxford, AstraZeneca —, U.S . Food, Drug Administration, European Medicines Agency, Britain's Medicines, Healthcare, Agency, AstraZeneca, U.S . Centers for Disease Control, Royal College of Obstetricians, Royal College, LightRocket, CDC, Moderna, WHO, New York Stock Exchange, NYSE, Covid, Intensive Care Unit, Providence St, Mary Medical Center, AFP Locations: Weymouth , Massachusetts, Moderna, Chaoyang District, Beijing, China, Covid, Providence, Apple Valley , California
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