Cybersecurity automation firm Torq lands $42M in expanded Series B
Welcome to another riveting edition of DataChamp's AI News Briefing! Today, we dive deep into the latest technological tides, uncovering stories that define the evolving landscape of artificial intelligence. Buckle up, tech enthusiasts, as we set sail into a sea of innovation.
Torq Raises $42M in Series B: Cybersecurity Automation Takes Center Stage ????
Torq, a "hyperautomation" cybersecurity startup, has raised $42 million in an extension to its Series B funding round, bringing the total raised to $120 million. The funds will be used to expand Torq's platform, including adding AI capabilities, supporting international growth, and increasing its sales channel presence. Torq's platform allows IT teams to create and deploy security workflows that integrate with existing cybersecurity infrastructure. It leverages generative AI, specifically large language models like OpenAI's ChatGPT, to analyze and comprehend questions about SOC playbooks, which guide security analysts in navigating security incidents. Torq has seen significant growth, with a 300% increase in revenue in 2023 and a 500% growth in its client base, reaching around 100 enterprise customers.
Elevenlabs Hits Unicorn Status with $80M Funding Boost ????
ElevenLabs, a voice cloning startup, has raised $80 million in a Series B funding round led by Andreessen Horowitz, former GitHub CEO Nat Friedman, and entrepreneur Daniel Gross. The funding round, which brings ElevenLabs' total raised to $101 million, values the company at over $1 billion. The funds will be used for product development, expanding infrastructure and the team, AI research, and enhancing safety measures for responsible and ethical AI development. ElevenLabs offers AI-powered tools to create and edit synthetic voices, and it plans to expand into creating audiobooks, dubbing films and TV shows, and generating character voices for games and marketing activations.
OpenAI Teams Up with Arizona State: A Pioneering Partnership in Education ????
OpenAI has signed its first higher education customer, Arizona State University (ASU). ASU will collaborate with OpenAI to bring ChatGPT, OpenAI's AI-powered chatbot, to the university's researchers, staff, and faculty. ASU plans to run an open challenge in February, inviting faculty and staff to submit ideas for ways to use ChatGPT, focusing on student success, new avenues for research, and streamlining organizational processes. ASU aims to explore the potential of AI in education responsibly and scalably, fostering an environment where AI resources are utilized effectively and ethically. The university will provide ChatGPT Enterprise accounts to its full-time employees, offering enhanced features for privacy, data analysis, and customization. This collaboration highlights the increasing role of AI in higher education.
Qdrant Unveils Open-Source Vector Database: Redefining Data Storage ?????
Open source vector database startup Qdrant has raised $28 million in a Series A funding round led by Spark Capital. Qdrant aims to capitalize on the growing AI revolution by providing an open source vector search engine and database. The company raised $7.5 million in April 2023 and decided to raise additional funds earlier than planned due to a tempting offer. Qdrant's new binary quantization technology helps compress vectors efficiently, reducing memory consumption and enhancing retrieval speeds. The funds will be used to expand the company's business team, focusing on hiring. Qdrant has attracted high-profile adopters, including Deloitte, Accenture, and Elon Musk's xAI.
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Closing Thoughts ????
As we wrap up this edition of DataChamp's AI News Briefing, remember that each news snippet, each funding milestone, contributes to the ever-evolving narrative of artificial intelligence. The tech waves are dynamic, and we are the navigators, steering the ship through uncharted waters.
Thank you for being a part of this journey. Until our next briefing, keep your curiosity aflame, your tech compass in hand, and stay tuned for the next wave of AI revelations. Safe sailing, tech enthusiasts! ????
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Senior Managing Director
1 年Saurav Kumar Very insightful. Thank you for sharing