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Google invests $350 million in Indian e-commerce giant Flipkart | TechCrunch


Google is investing nearly $350 million in Flipkart, becoming the latest high-profile name to back the Walmart-owned Indian e-commerce startup. The Android-maker will also provide Flipkart with cloud offerings as part of the deal, the Bengaluru-headquartered startup said in a brief statement Friday. The Google investment is part of a nearly $1 billion funding round […]

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Software Development in Sri Lanka

Robotic Automations

Porsche invests in battery startup South 8 to boost cold-weather EV performance | TechCrunch


All cars suffer when the mercury drops, but electric vehicles suffer more than most as heaters draw more power and batteries charge more slowly as the liquid electrolyte inside thickens. Drivers in Chicago found this out the hard way last January after many Teslas failed to charge during a deep freeze. One startup, South 8 […]

© 2024 TechCrunch. All rights reserved. For personal use only.


Software Development in Sri Lanka

Robotic Automations

Citigroup's VC arm invests in API security startup Traceable | TechCrunch


In 2017, Jyoti Bansal co-founded San Francisco-based security company Traceable alongside Sanjay Nagaraj, a former investor. With Traceable, Bansal — who previously co-launched app performance management startup AppDynamics, acquired by Cisco in 2017 — sought to build a platform to protect customers’ APIs from cyberattacks.

Attacks on APIs — the sets of protocols that establish how platforms, apps and services communicate — are on the rise. API attacks affected nearly one quarter of organizations every week in the first month of 2024, a 20% increase from the same period a year ago, according to cybersecurity firm Check Point.

API attacks take many forms, including attempting to make an API unavailable by overwhelming it with traffic, bypassing authentication methods, and exposing sensitive data transferred via a vendor’s APIs.

“There’s a lack of recognition of the criticality of API security,” Bansal told TechCrunch in an interview, “as well as ignorance of the ever-growing attack surface in APIs and a resistance to embrace API security due to entrenched investments in security solutions that don’t address the API security problem directly.”

To Bansal’s point, more and more businesses are tapping APIs in part thanks to the generative AI boom, but in the process unwittingly exposing themselves to attacks. Per one recent study, the number of APIs used by companies increased by over 200% between July 2022 and July 2023. Gartner, meanwhile, predicts that more than 80% of enterprises will have used generative AI APIs or deployed generative AI-enabled apps by 2026.

What Traceable does to try to shield these APIs is applies AI to analyze usage data to learn normal API behavior and spot activity that deviates from the baseline. Traceable’s software, which runs on-premises or in a fully managed cloud, can discover and catalog existing and new APIs including undocumented and “orphaned” (i.e. deprecated) APIs in real time, according to Bansal.

Image Credits: Traceable

“In order to detect modern threat scenarios, Traceable trained in-house models by fine-tuning open source large language base models with labeled attack data,” Bansal explained. “Our platform provides tools for API discovery, testing, protection and threat hunting workflows for IT teams.”

The API security solutions market is quickly becoming crowded, with vendors such as Noname Security, 42Crunch, Vorlon, Salt Security, Cequence, Ghost Security, Pynt, Akamai, Escape and F5 all vying for customers. According to Research and Markets, the segment could grow at a compound annual growth rate of 31.5% from 2023 to 2030, buoyed by the increasing threats in cybersecurity and the demand for more secure APIs.

But Bansal claims that Traceable is holding its own, analyzing around 500 billion API calls a month for ~50 customers and projecting revenue to double this year. Most of Traceable’s clients are in the enterprise, but Bansal says the company’s investigating piloting with governments.

“Traceable is building a long-term sustainable company, which from a financial perspective means that we have a very healthy margin profile that continues to improve as our revenue grows,” he said. “We’re not profitable today by choice, as we’re investing into the business responsibly … Our focus is on strategic investments maximizing return, not simply spending.”

To that end, Traceable today announced that it raised $30 million in a strategic investment from a group of backers that included Citi Ventures (Citigroup’s corporate venture arm) IVP, Geodesic Capital, Sorenson Capital and Unusual Ventures. Valuing Traceable at $500 million post-money and bringing Traceable’s total raised to $110 million, the new cash will be put toward product development, scaling up Traceable’s platform and customer engineering teams and building out the company’s partnership program, Bansal said.

Traceable has ~180 staffers currently. Bansal expects headcount to reach 230 by year-end 2024, as the the bulk of the new investment goes to hiring.

“Traceable wasn’t fundraising, as we still had substantial cash runway prior to this investment,” Bansal said, adding that Traceable secured a “sizeable” line of credit in addition to the new funds, “but we received significant inbound demand from investors. With the combination of the strategic alignment with Citi Ventures and the attractive terms of the investment, we decided to take a smaller investment now to accelerate our product and go-to-market initiatives before thinking about a more substantial fundraise.”


Software Development in Sri Lanka

Robotic Automations

GV invests in Home From College, a career platform for Gen Z | TechCrunch


Home From College, a career platform for young professionals and college students looking for their first job or internship, announced Wednesday that it raised $5.4 million in a seed round led by GV (formerly Google Ventures).

The new capital will go toward building out the platform’s main offering, “Gig,” a marketplace for companies to list jobs, ranging from part-time and internship opportunities to one-time projects and more long-term roles. Home From College features job listings from hundreds of top brands such as Poppi, Aquaphor, Burt’s Bees, Nivea, Urban Decay, Thrive Market, Peacock, and Steve Madden, among others.

The Los Angeles–based startup was founded in 2021 by Julia Haber, who founded WAYV, a marketing company that created “branded experiences” like pop-up shops on college campuses; and Kaj Zandvliet, a former banker at PineBridge Investments and financial analyst at Sony Music Entertainment.

Home From College had its genesis during WAYV-hosted events, where students would express their “fear of being unemployed when they graduated” and “not having their [college] major aligning with what they actually wanted to do in life,” Haber told TechCrunch. Other pain points include students being unable to find an enjoyable way to earn extra income during their time at college, or not qualifying for jobs due to an empty résumé.

Home From College aims to disrupt the traditional job search for Gen Z, who are gravitating toward more flexible opportunities outside of the 9 to 5. Some call Gen Z the “freelance generation,” with 67% of Gen Zers embracing freelance work and 71% prioritizing jobs with flexible working hours, per Fiverr. Gen Z is also exploring more creative roles, with many looking to build their careers in social media, entertainment, marketing, beauty, and fashion.

Haber wants Home From College to be a place for students to find gigs that fit within their busy lifestyles and provide valuable experience related to their career path and goals. So rather than applying for unpaid internships, they can take on side hustles like a social media ambassador or logo designer.

Image Credits: Home From College

“I work full time, so I’ve been using [Home From College] as a way to get side gigs,” Sierra Estevez, a recent graduate from SUNY Oneonta, told us. “I’m able to filter through the different gigs that are available to find opportunities that suit my timeframe or my schedule.”

When reviewing the marketplace, the majority of the listings are one-time gigs mainly focused on content creation or product testing, which many brands offer to get feedback from a younger demographic. The compensation varies widely. For instance, Nivea is currently offering $500 to create two TikTok videos. Smaller businesses offer much lower compensation, with one company offering just $15 to try a product and leave a review.

“All gigs on Home From College are paid … [it] helps weed out the [jobs] that feel maybe disingenuous to students or feel manipulative of their time because we know Gen Z cares a lot about that too… We always want to make sure that the opportunities for someone who is a career starter are always compensated realistically in terms of what the value exchange is,” Haber said. She added that the team reviews all the listings before they go live.

Image Credits: Home From College

Another way that Home From College caters to Gen Z and stands apart from other career sites is its interview feature where students answer questions from real companies, which they can post to their profiles. For instance, “If you had to describe your personal brand in one sentence, what would it be?” or “What role do you play in a group setting?”

In addition, the platform lets students show off their personality with fun cover designs for their profiles and colorful about pages that explain their background, experience, and what they’re looking for.

Students can also see the number of times companies have viewed their résumés and the total profile views they get on a weekly and monthly basis. Companies see a similar dashboard that tracks how many applicants are being reviewed and the number of contracts that have been signed.

Students can also receive messages from companies, giving them an opportunity to form connections with future employers.

“I actually get to talk to different people from these brands, whereas, with other platforms that I have tried, it’s a message that I put out or an application I’ve sent into an abyss that I never really hear back from,” Estevez added.

Home From College is also competing with design tools like Canva with its newest feature, “Resume Studio.” Although the templates offered on Home From College are arguably less advanced than Canva templates, they serve as a starting point for students who may have never made a professional résumé before. The résumé builder is still in beta, so the selection will likely improve over time.

Image Credits: Home From College

Home From College is free for students and has three subscription tiers for companies: Starter ($99 per month), Growth Mode ($199 per month) and Enterprise (price varies). Students are paid directly through Home From College’s platform and companies are charged a 20% service fee on top of each invoice price.

The platform has over 100,000 users. Home From College has helped facilitate “thousands and thousands” of hires, said Haber.

Home From College mainly caters to people just starting out in their careers, but the company wants to expand its product offerings to people who have been in the workforce for ten years or less.

The company previously raised $1.5 million from PEAK6 and angel investors.


Software Development in Sri Lanka

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