SentinelOne, an Israeli cybersecurity firm, will have a valuation of $3 billion if it closes a new investment of $150 – $200 million, Calcalist has reported. And Tel Aviv-based visual search and product discovery platform Syte just brought in $30 million in a Series C. Go Startup Nation!
Founded in 2015 and based in Tel Aviv, Syte had previously brought in $21.5 million in a Series B.
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The company uses visual AI for eCommerce. This, it says, enable brands and retailers to connect shoppers with products.
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WE’VE GOT SOME BIG NEWS????
AND IT’S ALL THANKS TO YOU ????
????WE JUST RAISED $30M IN SERIES C FUNDING!!!????
And that’s just the beginning…
Our CEO Ofer Fryman shares what’s next for Syte on the blog: https://t.co/Ag0Pr6GZxx pic.twitter.com/uqnoRMpLEm
— SyteAI (@SyteAI) October 21, 2020
Its solutions include camera search, augmented site search, personalization engines, and smart in-store tools which it says “empower shoppers to discover and purchase products in the same way they live their lives — instant, intuitive, visual.”
Farfetch, PrettyLittleThing, Conforama, Shane Co., and Zozo, partner with Syte to provide on-demand, hyper-personalized experiences that drive conversion, increase average order value, and spark lifelong loyalty.
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“When we founded Syte five years ago, we set out to solve the friction in product discovery, to make shopping easier and more enjoyable,” said Syte CEO Ofer Fryman in a blog post.
“Even then, when we were just a handful of people with an idea, we sensed that this would be the beginning of a game-changing technology — both for retailers and consumers.”
Syte said that it will use the funding to expand into the U.S. and Asia-Pacific markets.
The company reported a 22% increase in revenues on a quarterly basis.
As for SentinelOne, the Calcalist report lists Sequoia Capital as the main investor of the up to $200 million in new funds. It also states that the investment would make it Israel’s largest private company and one of the largest cybersecurity firms in the world.
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???? Still using whitelists? Our Application Control engine eliminates the need for #whitelists or 'allow lists' and requires zero human intervention. https://t.co/rgd5JqMOIj
— SentinelOne (@SentinelOne) October 21, 2020
The company is probably worth the $3 billion at least in part after it secured a new patent just last week. The autonomous cybersecurity platform company secured a new patent from the U.S for three separate innovations — automatic feature extractor, code detector, and position-independent code detection.
SentinelOne is the only cybersecurity solution encompassing AI-powered prevention, detection, response and hunting across endpoints, containers, cloud workloads, and IoT devices in a single autonomous platform.
It boasts that with its services organizations gain full transparency into everything happening across the network at machine speed – to defeat every attack, at every stage of the threat lifecycle.
Finally, Google may have just been sued for antitrust violations by the US government, but its AI-focused VC fund just led a $9.5 million Series A in Israeli startup MINE.
Mine enables users to discover and effectively manage their digital footprint through a simple, easy-to-use, mobile and web-based app. Mine’s goal is to help people worldwide to reduce their unnecessary online exposure to minimize potential risks.
In other words, the company lets people mine their own data online and remove what they do not like.
It can, for example, scan just the subject line in an e mail from a business and use that to find out what, if any, information the sender has about the recipient which led it to contact that person in the first place.
Laws in effect in the European Union and other places now require companies delete such information upon request.
