News & Insights: Portfolio Company News Highlights

There’s been no shortage of news and activity across the Blumberg Capital portfolio and network. In case you missed it, here are recent highlights of Blumberg Capital portfolio companies and our team in the news:

Doubling Down on the Data-Driven Enterprise

• Kloudfuse , the next-gen observability data lake, launches out of stealth with $23M in funding, including a $17M Series A round backed by new and existing investors such as Blumberg Capital, Aspenwood Ventures and HighSage Ventures. Industry leaders such as Workday, GE Digital Healthcare, Automation Anywhere, Tata, and Eltropy partner with Kloudfuse to address the growing demand for unified cloud observability, automation and AI troubleshooting. Kloudfuse Launches Out of Stealth with $23M?

Investing in Israeli Innovation

• Creednz , a platform for safeguarding corporate finance teams from payment scams, emerges from stealth with a $7M Seed round, led by Blumberg Capital. According to a recent study by Creednz and the Ponemon Institute, 88% of companies have experienced at least one payment transaction fraud in the past two years, with an average loss of $150,000 per incident. Investing in Creednz and the Future of Payment Protection

• Myrror Security , a pioneer in application security for organizations using open-source packages, emerges from stealth with $6M in funding. There was a 740% increase in OSS (Open Source Software) supply chain attacks in 2022, and this trend is expected to continue. Myrror Security’s solution is the first of its kind to address this growing threat by detecting unknown risks that lead to SDLC breaches via malicious packages. Investing in Myrror Security and The Future of Application Security?

• PerfectScale , an innovation leader in Kubernetes optimization, announces a $7.1M Seed?round, led by Blumberg Capital. Kubernetes has evolved to become the linchpin of modern cloud-native applications, with market size anticipated to reach $7.8B by 2027.?Investing in PerfectScale and the Transformation of Kubernetes Optimization?

• SQream announces $45M Series C funding, with participation from Blumberg Capital. The data analytics company’s focus is on the enterprise segment in verticals like semiconductors, manufacturing, telecomms, financial services and healthcare, and its disclosed customers include the likes of mobile carrier Orange, Samsung, LG, Alibaba and PubMatic. SQream can expand data capacity while reducing ingestion times by 90%, preparation times by 90%, footprint by 90%, and costs by 80%. SQream calls in $45M to expand its GPU-based big data analytics platform?

From Inception to Exit

• NavTrac (Acquired by Loadsmart) , the yard and asset management provider, is acquired by logistics technology platform Loadsmart . NavTrac’s capabilities will work alongside those of Opendock, the warehouse and dock scheduling software Loadsmart acquired in November 2021. With Opendock and NavTrac working together, more than 40% of detention claims could be challenged, resulting in substantial cost savings of around $60,000 annually for an average terminal. Loadsmart Acquires NavTrac to Bring Computer Vision to Yard Management

Additional Portfolio News Highlights

• The Economist highlights VerAI Discoveries as a company using AI to support an electric-powered future. VerAI is applying AI to the process both to improve the odds of surface strikes, and to detect underground ore bodies that are invisible to current techniques. Could AI help find valuable mineral deposits??

• FundGuard is named to N12 News Israel ’s list of the 21 most promising Israeli startups of 2023. FundGuard has developed a cloud platform for managing investment portfolios, intended for institutional entities in a market that provides services for financial assets worth trillions of dollars. FundGuard Named to 21 Most Promising Startups in Israel in 2023

• Imagene announces the launch of LungOI, the world's first AI-based Non-Small Cell Lung Cancer (NSCLC) molecular panel. The solution can provide healthcare professionals with immediate genomic information, to support making informed treatment decisions in the complex cancer diagnosis and treatment journey. Only 50% of newly diagnosed advanced NSCLC cases are tested for the guideline-recommended biomarkers, and due to long turnaround times, even among those tested, approximately 30% start first-line treatment prior to receiving all biomarker test results.?Imagene Announces LungOI, the First AI-Based NSCLC Molecular Panel for Immediate Cancer Biomarker Profiling

• Real estate technology company EasyKnock acquires home maintenance company Onder . Onder offers a subscription-based home maintenance service that deploys technicians to help with both interior and exterior tasks. After the acquisition, Onder’s home maintenance services will be offered to EasyKnock’s customers. The company said it’s part of a broader goal of creating the “first nationwide property maintenance platform for homeowners.” Real estate startup acquisition: EasyKnock buys home maintenance company Onder

• Shabodi wins the 弗若斯特沙利文公司 2023 Best Practices Award, North America. The Frost & Sullivan Best Practices Award winners are chosen based on a rigorous methodology involving a detailed evaluation of market participants against innovation, creativity, efficiency, commercialization success, performance, and customer impact criteria.?Frost & Sullivan 2023 Best Practices Award

• Yotpo is included for the second consecutive year in Forbes’ Cloud 100 list. Yotpo provides e-commerce businesses with multiple marketing tools, including one that gathers and responds to customer reviews. Yotpo’s e-commerce customers include Steve Madden, Away and Rothy’s. The Cloud 100 list recognizes the world’s best private cloud computing companies. Forbes Cloud 100: Yotpo

• Aftermarket technology specialist Partful receives $3.1M in funding to accelerate the development of its ‘exploding’ 3D parts SaaS platform, which is transforming the industry’s approach to a global aftermarket worth $400B. This latest investment will enable an expansion of the engineering team developing Partful’s innovative platform, which is supporting the manufacturing industry’s transition to the circular economy.?Manchester-based Partful lands €2.8 million to expand its interactive 3D explosion parts catalog abroad?

Other Blumberg Capital News Highlights

• Lt. Col. (Ret.) Sharona Mizrahi , HR & recruiting specialist at Blumberg Capital, discusses how AI can influence the world of HR for CTech by Calcalist , including streamlining hiring and onboarding initiatives, navigating legal and compliance issues, and helping elevate employee performance evaluations. Unlocking the potential of artificial intelligence in HR for startups?

• TechCrunch hosts David Blumberg for a masterclass on how startups can maximize investor value add. David shares advice on questions to ask investors and how to partner with investors before and after signing a term sheet. TechCrunch: How to Maximize Value Add from VC Investors