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BGV Founder Eric Benhamou will speak at the SuperReturn US West conference in San Francisco, February 12-14 2018. Panels hosted are “Raise and repeat: common challenges of raising the second and third fund” (February 12th, 2:15pm)  and “Succession planning in private equity” (February 14th, 12pm). Eric Benhamou will also discuss opportunity funds at SuperReturn West’s “Opportunity funds in the spotlight” fireside chat (February 13th, 3:45pm). Register to attend SuperReturn US West 2018 to hear Eric Benhamou and other industry leaders share their insights. Event details located here.
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Lockheed Martin to Distribute Blue Cedar Mobile Security Technology to its Defense, Aerospace, and First Responder Customers SAN FRANCISCO, September 13, 2017 — Blue Cedar today announced that Lockheed Martin, a global security and aerospace company, has selected Blue Cedar’s mobile security technology for inclusion in its Universal Communications Platform (UCP) mobile app, or UCP Communicator.  The collaboration provides Lockheed Martin with a solution for UCP users that have both iOS and Android devices, who will for the first time be able to connect quickly and securely to deployed military, first responders, or remote commercial operations teams who require interoperability between multiple types of secure radio and cellular communications. In a first for Blue Cedar, the company also announced that Lockheed Martin will distribute the Blue Cedar platform to its customers and prospects via solutions that meet a wide range of mobile security needs. “We are pleased to have entered into this strategic relationship with Lockheed Martin,” said John Aisien, chief executive officer of Blue Cedar.“We believe that mobile communications security starts by securing the app, and this unique approach meets the stringent requirements of the most security-conscious organizations, such as Lockheed Martin.  Our relationship also demonstrates the versatility of Blue Cedar technology and is just one example of a wide range of powerful, potential applications for a variety of commercial and public sector markets.” Lockheed Martin’s UCP integrates all types of fixed and mobile radio systems, enabling interoperability between multiple agencies and coalition force diverse communication and data systems. With Blue Cedar technology, it now enables consumer-grade smartphones to be used to extend and expand secure communications networks to users without access to radio equipment. The collaboration between Blue Cedar and Lockheed Martin will allow users with commercial smartphones and tablets to download and launch the UCP Communicator app, which is inserted with Blue Cedar’s layer of encryption and other security controls which are already included in the app. There is no need to write any security code—accelerating time to market, increasing ease of use, and protecting privacy for users. The combined Lockheed Martin UCP products and Blue Cedar solution provides a number of benefits, including:
  • Simplicity: Users can use the devices they already have. Downloading and launching the app is easy—and users don’t have to do anything else.
  • Security: The app meets mobile security requirements, such as FIPS 140-2 compliance, establishing a secure, encrypted connection and authenticates users for military-grade security.
  • Cost effectiveness: Users and organizations don’t have to purchase additional specialized equipment to enable spontaneous communication.
“Blue Cedar supports our goal in providing our customers with an expanded communications capability to enhance interoperability and mission needs,” said Jim Quinn, Lockheed Martin business development manager. “The app will provide critical security and encryption capabilities to UCP Communicator customers, giving them the latest mobile security and encryption technology available.” To learn more about Blue Cedar’s security solutions for mobile apps, visit www.bluecedar.com. To learn more about Lockheed Martin’s Universal Communications Platform products, visit www.lockheedmartin.com/ucp.   About Blue Cedar Blue Cedar transforms enterprise mobility with the industry’s most innovative mobile security solution. By securing the app rather than the device, Blue Cedar gives enterprises robust, consistent protection of corporate data across both managed and unmanaged devices, without the cost, complexity, or risk to privacy of device-level security. Blue Cedar’s “follow the app” security sets enterprises free to fully realize the benefits of secure mobility for both employees and customers. The company is privately held and headquartered in San Francisco. For information about Blue Cedar, visit www.bluecedar.com.
Source: https://www.bluecedar.com/press-releases/lockheed-martin-selects-blue-cedar-to-secure-its-universal-communications-platform-ucp-communicator-mobile-app
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IdentityMind Global, pioneer of Trusted Digital Identities, today doubled down on enabling customers to quickly launch and manage their risk and compliance processes through new additions to its Client Success program. Updated APIs and services allow IdentityMind customers to reduce the time required to get integrated, and to more quickly launch their digital businesses.

IdentityMind’s Client Success program was designed for rapid technology deployment, greater compliance efficiency and reduced fraud, all without sacrificing user experience. As part of this program, IdentityMind has consistently invested in standards-based Rest API technologies to better cater to companies looking to get to market more quickly and to more nimbly adjust to regulatory and business changes. Companies from banks to virtual currency exchanges to cross-border remitters to digital gaming companies can use these APIs and services to automate compliance and risk management across their use-cases and customer risk-levels. IdentityMind provides a dedicated customer support manager and integration engineer to ensure integration happens correctly, the first time.

“Enabling our clients to leverage our Trusted Digital Identities database across our fraud prevention and anti-money laundering platform is paramount. Our API and services help them quickly configure and operate our RegTech platform to their specifications,” said Garrett Gafke, IdentityMind Global CEO. “We want our clients to be successful and we are devoted to making sure each of our client achieves success at internet speed.”

Earlier this year, as part of the Client Success program, IdentityMind created CORE (Client Oriented Results and Execution) to work with client on the integration and automation process.

“Automating the safe onboarding of online identities, may involve looking outside our own database” said Neal Reiter, Director of CORE. “We want our clients to be able to automate as much as possible, and most of our clients operate worldwide which complicates the requirements. Many times, this includes coordinating multiple activities in real time: document validation, knowledge based authentication, social network analysis, sanctions screening, enhanced due-diligence, etc. Each one of these activities may require additional data, and careful understanding of the API. Our job is to ensure keeping these in sync doesn’t become overwhelming.”

At the same time, IdentityMind has advanced its API and increased infrastructure investments to make integration easier for developers. API documentation is available through Swagger, GitHub and, later this year, through a developer portal.

About IdentityMind Global

IdentityMind, creator of Trusted Digital Identities (TDIs), offers a SaaS Platform for online risk management and compliance automation. We help companies reduce and improve client on boarding fraud, transaction fraud, AML compliance, sanction screening compliance and KYC compliance. IdentityMind continuously builds, validates and risk scores digital identities through our eDNA™ engine to ensure global business safety and compliance from customer onboarding and throughout the customer lifecycle. We securely track the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods, etc.) to build payment reputations, and allow companies to identity and reduce potential fraud, evaluate merchant account applications, onboard accounts, enable identity verification services, and identify potential money laundering. For more information, visit: http://www.identitymindglobal.com


Source: http://www.prweb.com/releases/2017/08/prweb14621292.htm

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Post written by Gabby Nizri, Co-Founder and CEO at Ayehu Inc.

Since the industrial revolution, business leaders have been leveraging technology to augment human workers with the goal of maximizing efficiency and productivity while simultaneously cutting costs. Now, thanks to the recent tidal wave of intelligent technology advancement, we have suddenly found ourselves staring down the barrel of a workplace that looks quite different than the one we have become used to.
What do automation, machine learning and artificial intelligence (AI) mean for tomorrow’s workforce? Will AI eliminate the need for human workers altogether? The reality isn’t quite so cut and dry. In fact, the future of work will likely be a hybrid that involves both human and machine intelligence working in conjunction toward the same shared goals. Let’s explore this in a little more detail. Redefining The Way We Work The basic concept behind automation hasn’t changed all that much over the past century or so. When menial tasks can be shifted from human employees to robots, work can be completed faster and without the risk of human error. This dramatically improves efficiency levels, which means a better bottom line for an organization as a whole. And because the output of quality of work increases, service levels also receive a boost, so in theory, everybody wins. However, automation powered by artificial intelligence has taken this basic concept and brought it to an entirely new level. Now, it’s not just about programming a machine to perform simple tasks; rather, it’s about relying on technology that is intuitive enough to adapt and improve without the need for human input. Take chatbots, for example. This technology is capable of using the data gathered over time from incoming customer inquiries to continuously develop a robust catalog of answers. In other words, the more it’s used, the smarter it becomes. A New Realm Of Possibilities Automation will inevitably lead to redundancy in certain roles. It’s only logical to assume that if software robots are capable of performing the majority of a lower-skilled employee’s tasks, it’s a much more economical business decision to shift those duties to technology, subsequently making certain roles obsolete. This doesn’t necessarily mean, however, that we’re doomed to a future of humanless offices. The truth is that while automation may eliminate some jobs, it also creates new roles and opportunities for human workers to pursue. It’s also important to point out that as far as intelligent automation has come, there are still certain areas where the human touch cannot be replaced or replicated. For instance, a chatbot can be programmed to perform basic customer support, but it is not capable of managing complex situations. Likewise, intelligent automation can be highly effective in identifying ideal candidates for a job opening, but the actual hiring process is still a human-centric function.
Humans And Machines: A Match Made In Heaven Ideally, the best way to approach the adoption of artificial intelligence in the workplace is to view it from a more holistic perspective. Rather than machines and humans working independently, the two should be working in tandem toward the greater good of an organization. For example, process automation can be leveraged to handle the majority of the mundane, repetitive IT tasks while seamlessly transferring more complex issues to human workers. AI can also be highly effective in helping business leaders make smarter, more data-driven decisions. Machines handle the data mining process, identifying, extracting and organizing the most relevant information available. Executives can then use this information to more accurately project and plan for the future. This facilitates greater innovation, which means those enterprises who adopt AI will lead the charge in their respective fields.
A New Definition Of Work
As artificial intelligence continues to evolve and improve, the very definition of what we consider to be mundane or routine will also continue to change. With smarter technology, more and more tasks will be shifted to machines. In fact, according to a recent report from Gartner, smart machines and robots could take over the tasks performed by highly trained professionals in such fields as IT, medicine and law by 2022. But that doesn’t necessarily mean certain unemployment for those individuals working on the front lines. To the contrary, according to one study conducted by ServiceNow, 79% of executives surveyed say they expect an increase in the adoption of automation to lead to the creation of new jobs. Furthermore, an incredible 94% agreed that when repetitive tasks are automated, the demand for jobs that call for soft skills like communication, collaboration and creative problem-solving will grow. Ultimately, it’s the way human workers approach this technology that will determine what tomorrow will bring. For those who choose to embrace artificial intelligence and all of the opportunities it presents, the future certainly looks bright.
Source: https://www.forbes.com/sites/forbestechcouncil/2017/08/17/shaping-the-future-of-work-a-collaboration-of-humans-and-ai/#5e0798e547b7
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SAN JOSE, CA (PRWEB) AUGUST 16, 2017: Intelli-Vision, a pioneer and leader in AI/Deep Learning video analytics software for Smart Cameras, today announced that the latest version of its license plate recognition (ANPR) and detection software, which uses a combination of AI, CNN (convolutional neural network) and Deep Learning, has achieved accuracy numbers as high as 99% in real-world customer environments. More information can be found here “We have been continuously improving our LPR/ANPR technology for a number of years, as part of our AI and deep learning-based video analytics software,” said Vaidhi Nathan, IntelliVision’s CEO. “We are now achieving accuracy of up to 99% in countries as diverse as the U.S., Mexico, Germany and India and not just in the lab.” IntelliVision’s License Plate Recognizer (LPR/ANPR) has performed and matured over many years of application, taking into account variables such as movement and high speeds which are natural to the environment of vehicle monitoring. Using still images or video feeds, the product can recognize and capture information located on license plates and automatically log this information for future inspection. Real-time searching can also be performed on each plate detected, comparing the information gathered with a stored database of license plates. IntelliVision’s License Plate Recognizer is part of a portfolio of products for Smart City, Smart Auto and Intelligent Transportation Systems (ITS). IntelliVision products are in over 3 million cameras worldwide, including 15,000 cameras at 3,000 intersections in the United States, taking the place of under-street induction loops.

About IntelliVision  IntelliVision is a market leader in AI and Deep Learning video analytics software for Smart Cameras, providing video analytics solutions for several markets including Smart Home/IoT, Smart Security, Smart Retail, Smart Business, Smart City, big data analytics and video search. IntelliVision technology has been recognized as the Brains Behind the Eyes™ for many applications deploying and using cameras to analyze video content, extract metadata, send out real-time alerts and provide intelligence to other home, business and security systems. IntelliVision provides the largest suite of video analytic products in the market today. Its products are used by Fortune 500 companies, the US Government and many leading brands. IntelliVision is headquartered in San Jose, California with offices in Asia and Europe.

For more information, visit: http://www.intelli-vision.com Email: info(at)intelli-vision(dot)com Phone: 408-754-1690


Source: http://www.prweb.com/releases/2017/08/prweb14606123.htm

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Best-in-Class Satisfaction Score Validates Webscale Platform and Ongoing Commitment to the Customer
MOUNTAIN VIEW, CA–(Marketwired – Aug 8, 2017) – Webscale, the leader in multi-cloud web application delivery and control, today announced that its Q2 2017 customer satisfaction survey revealed a company record Net Promoter Score (NPS) of 71. Far exceeding the average NPS score of 24 for a B2B company, Webscale is blazing a new trail for customer-focused growth in the SaaS-based application delivery and control segment. The customer survey received a response rate of 70%, also well above industry standards, and identified 74% of the participants as Promoters, defined as “loyal enthusiasts who will continue to buy and refer others, fueling the company’s ongoing growth.” “Migrating to cloud hosting via Webscale is one of the best decisions of 2016. It was a painless transition and our website is now consistently fast and reliable. When problems arise, they are brief and with the help of Webscale support, resolved with transparency. Results with no drama,” said Nick Carter, CMO at ValuePetSupplies.com “Webscale has cut our monthly costs to 1/5th what they were. Their support is fast and efficient. We couldn’t be happier with the service Webscale provides,” said Mike Morris, Marketing Manager at Rocky Mountain Essential Oils. “Deploying with Webscale is very easy. It’s reliable, it’s quick, and it’s not invasive to our system. It doesn’t require any third-party scripts or environment management systems on my end. I have to emphasize that that is really remarkable. Between the time and headache savings it affords me, and the stability and speediness it brings to the site, I’m willing to bet that Webscale is actually paying for itself at least a couple of times over,” said John Kosoff, Retrofitsource.com “Webscale is doing a tremendous job when it comes to managing and maintaining our web servers and security. With Webscale we have forgotten that there is something called servers that are needed to host our site,” said Anand Dixit, VP Technology at Skinit. “I am no longer tied to my email or phone when on vacation. I can relax now!” added Jesse Thomas, Web/E-commerce Manager at SkateOne Corp. “Customer satisfaction has always been a top priority at Webscale, so it’s truly rewarding to hear such positive feedback from such a large percentage of our customer base,” said Sonal Puri, CEO of Webscale. “It is this commitment to service that has enabled Webscale to grow at such a rapid rate, while retaining more than 95% of our customers. An NPS score of 71, and the feedback of our customers, highlights the value we are creating and stands as a testament to the Webscale team for developing a world-class web application delivery and control platform.” Created by Satmetrix and Bain & Company as a management philosophy and business model, NPS is an industry-standard tool to gauge customer loyalty, retention, and satisfaction. The score is measured by a comprehensive survey of existing customers to measure their likelihood to recommend a business’s products or services. Scores can range from -100 to +100 with scores of 50 and higher considered a “best-in-class” customer service level. About Webscale Networks Webscale is a pioneer in integrated web application delivery and control in the cloud. Delivered as-a-Service, the Webscale platform allows businesses of all sizes to benefit from application scalability, load balancing, high performance, outage prevention, improved security and simple management across multiple cloud providers. Experts in cloud technology and creating powerful solutions for mid-market e-commerce and enterprise customers, Webscale is headquartered in Silicon Valley, Calif., with offices in Boulder, CO and Bangalore, India. For more information, please visit: www.webscalenetworks.com
Source: http://www.marketwired.com/press-release/webscale-wows-customers-achieving-industry-leading-net-promoter-score-of-71-2229354.htm
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Modern applications like big data analytics, facial recognition, IoT and video streaming, as well as next generation applications like artificial intelligence and machine learning place unique demands on both the compute and storage infrastructures. Most of the modern and next generations operate against a vast store of data. The application makes a query against that data set, which is processed in some way yielding the answer. They all require vast amounts of data to be stored and then count on compute to identify the subset of data the application needs to respond to the queries.

The Problems with Moving Storage Closer to Compute

The most common strategy to addressing the challenges presented by modern and next generation applications is to move storage closer to compute. The strategy is install storage inside each compute node and let the data reside there. Each query requires a large section of data, in some case all of it, is sent to the compute tier to identify the needed sub-section. Moving storage to the compute as a strategy does reduce network latency. However, while the CPU-to-media interconnect has improved with advancements like NVMe, there is still latency in the connection. There is also a complication of making sure the right process has access to the right data locally.

Moving Compute Closer to Storage

The first step in the process for most of these modern and next generation applications is to reduce the working set of data. Essentially, if the data set is the haystack, the application lives to find the needles in that haystack. If this is the case, it may make more sense to move the compute to the storage. That way the media can perform the data reduction or qualification before data is sent to the main compute tier. For example, a facial recognition program searching for Elon Musk dressed in black may send out a request to each drive for images of Elon Musk. Those images are sent to the main compute tier which does the more fine-grained search for Elon Musk wearing black. The first value of such an architecture is the compute for the environment scales, and does so at a very granular level, at the drive. The second value is the amount of bandwidth required to transfer the data to the main compute tier is greatly reduced since the drives are sending a much smaller subset of data instead of all of it. The third value is the compute tier does not have to scale as rapidly because the drives are doing more work.

Introducing NGD Systems

NGD Systems is announcing the availability of the industry’s first SSD drive with embedded processing. This is not a processor for running flash controller functions (it has that too) this is a processor specifically for off-loading functions from the primary applications. Developers of these modern and next generation applications will find adopting their applications to take advantage of the new drives relatively straightforward. The NVMe Catalina 2 is now available in PCIe AIC and U.2 form factors.

In-Situ Processing

While not a controller company NGD Systems does incorporate an “in storage” hardware acceleration that puts computational capability on the drive itself. Doing so eliminates the need to move data to main memory for processing, reducing bandwidth requirements and server RAM requirements. It also reduces the pace the compute tier needs to scale, which should lead to reduced power consumption.

Elastic FTL

Beyond onboard compute, the drives themselves also have top notch controller technology. The controllers (separate from the compute) on the NGD Systems SSD use proprietary Elastic FTL and Advanced LDPC Engines to provide industry leading density, scalability and storage intelligence. It enables support of the event changing availability of drive types including 3D TLC NAND, QLC NAND as well as future NAND specifications. The company also claims the lowest watt-per-TB in the industry.

StorageSwiss Take

Moving compute to the storage is the ultimate in “divide and conquer”, which may be the best strategy for applications needing to operate on large data sets. If every drive in the environment can reduce the amount of data that needs to be transferred into main memory for processing the environment becomes infinitely more scalable. Unlike many flash memory announcements, the NGD Systems solution should have immediate appeal to hyperscale data centers looking to improve efficiency while increasing response times. NGD Systems will show a demonstration of the technology at Flash Memory Summit 2017, August 8-10 in Santa Clara, CA. Vladimir Alves, CTO and co-founder of NGD Systems, will also make a presentation on August 10th, at Flash Memory Summit Session 301-C, entitled, “Get Compute Closer To Data”.
Source: https://storageswiss.com/2017/08/08/move-compute-closer-to-storage-ngd-systems/
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IdentityMind Global, today announced the latest version of its Enterprise Fraud Prevention platform, designed to increase operational efficiency and reduce manual review time for medium to large Etailers. The new version extends the user interface with customizable dashboards, queue management, reporting, and machine learning analysis intelligence, in addition to IdentityMind’s eDNA™ trusted digital identity core technology.

According to the Merchant Risk Council (MRC) Global Payments Survey, the typical manual review rate for online orders was 8% in 2016 with an average per transaction review time of 5.6 minutes (2015). In the same survey, 46% of merchants site “lack of sufficient internal resources” as a major fraud challenge.

Version 1.29 of the IdentityMind platform addresses this head on by enabling fraud analysts and managers to configure operational dashboards with widgets tailored to expedite transaction review. Through the dashboards, analysts can quickly see overall transaction processing statistics as well as exceptions that require manual review, and they can resolve transactions in bulk, assign to queues, and review individual or escalated transactions. The average manual review time is below 4 minutes for IdentityMind’s enterprise etailer beta clients, versus the average of 5.6 minutes per transaction reported by MRC. This average reduction of nearly 30% translates into better processes and better cove rage by fraud analyst teams. In addition, through its use of graph intelligence to analyze digital identities, IdentityMind can reduce transaction fraud by 60% and review of card not present (CNP) transactions by 50%.

“Etailers and other enterprises require solutions that can efficiently handle large volumes of transactions seen online,” said Garrett Gafke, CEO of IdentityMind Global. “IdentityMind not only provides a highly scalable solution that leverages digital identities to help Etailers make the best automated risk decisions, but we provide a solution that increases the efficiency of your manual operations to reduce manual review time and make every one of your fraud analysts, your most efficient fraud analyst.”

Enterprises require highly scalable solutions that aid account opening and transactional fraud decisions in real time across all channels where they interact with their customers. IdentityMind addresses this requirement starting with its core strength in digital identities. IdentityMind’s patented eDNA™ engine continuously builds and validates identities. These identities grow with each customer interaction across the secure IdentityMind Identity Network and are validated through a variety of third party data services available through the IdentityMind API. Using machine learning and graph intelligence, IdentityMind builds reputations for each identity allowing enterprises to understand the true risk of doing business with any particular entity. The Rize report allows enterprises to understand where they can maximize revenue and minimize risk, and which rules they need to modify to get there.

IdentityMind’s Enterprise Fraud Prevention platform can be leveraged as a platform with dashboards, graph intelligence, reports and digital identities included, or a la cart via the IdentityLink API that allows companies to integrate IdentityMind’s advanced analytics into their existing risk management platform. IdentityMind’s newest platform is readily available worldwide.

About IdentityMind Global

IdentityMind, creator of Trusted Digital Identities (TDIs), offers a SaaS Platform for online risk management and compliance automation. We help companies reduce and improve client on boarding fraud, transaction fraud, AML compliance, sanction screening compliance and KYC compliance. IdentityMind continuously builds, validates and risk scores digital identities through our eDNA™ engine to ensure global business safety and compliance from customer onboarding and throughout the customer lifecycle. We securely track the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods, etc.) to build payment reputations, and allow companies to identity and reduce fraud, evaluate merchant account applications, onboard accounts, enable identity verification services, and identify money laundering. For more information, visit: http://www.identitymindglobal.com


Source: http://www.prweb.com/releases/2017/08/prweb14579646.htm

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Companies are increasingly using video to engage their audiences, a trend that Sherpa Digital Media Inc. perceives as a major revenue opportunity. The Redwood City, California-based startup has secured $5.5 million as part of a funding round announced today to capitalize on the growing role of multimedia content in the enterprise. Sherpa offers a platform that enables companies to centrally coordinate video delivery across all the different outreach channels they use. A programming interface makes it possible to plug into each channel, be it internal or external, with relative ease. Marketers looking to make a better impression on leads could use Sherpa Stream to embed client testimonials into their companies’ websites. Team leaders can employ the platform’s live streaming features to share updates with employees and conduct training sessions. To allow for replays, it also provides the ability to turn a stream into an on-demand video once the presentation is over. According to Sherpa, the fact that it’s all handled through a single interface makes management easier compared with when content is spread out across multiple systems. One benefit is that users can quickly replace old items if company messaging changes to ensure everything is up-to-date. They also have the ability to centrally monitor how viewers engage with videos. Sherpa Stream logs key engagement metrics to provide insight into how content can be improved. A company could, for example, check how much time workers typically spend watching training content and adjust the length of streams accordingly. Over on the front end, Sherpa said, the feed is automatically optimized for each user’s device. Sherpa’s platform has been adopted by major companies such as Intel Corp., Levi Strauss & Co. and the Walt Disney Co. K.C. Watson, the startup’s chief executive, told VentureBeat that the new funding will be invested in developing learning machine features to widen the appeal of the software. The round was led by early stage-fund Benhamou Global Ventures with participation from Rally Ventures and several returning backers.
Source: https://siliconangle.com/blog/2017/08/07/sherpa-raises-5-5m-help-enterprises-broadcast-video/
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Successful funding round to deepen technical innovation, reinforce international teams and develop OneKloud’s unique offer for cloud-infrastructure dependent companies, through predictive technology combined with a top-down project-based management platform. June 28, 2017 OneKloud, the innovative cloud-infrastructure budget platform that allows businesses to predict and control cloud spend, today announced a $1 million Seed Series. US venture capital firms, Birchmere Ventures who led the round, Benhamou Global Ventures (BGV) and Wharton Alumni Angels of Silicon Valley were convinced by OneKloud’s unique technology and the massive need for cost control solutions for companies dependant on cloud infrastructure. The successful financing round follows the selection of OneKloud as a 2017 Red Herring Top 100 North America Winner, earlier this month. Founded in 2016, by French technophile entrepreneurs Eric Didier and Xavier Garcia, OneKloud leads the way in the disruption of cloud service procurement. Until now cloud infrastructure, such as AWS, has been used by programmers like an “open bar” —no accountability, no control, and huge costs. Meaning many companies are disappointed with the cloud after getting a massive bill, because they failed to accurately predict or control usage and cost. OneKloud has designed the solution by organizing AWS spend in a project-based, hassle-free and sustainable way, in line with clients’ current org-chart and way of working, thus allowing companies to uncover and prevent wasted cloud resources. “It’s a pleasure to partner with these exceptional firms, known for helping to build high-growth technology companies,” says OneKloud CEO and co-founder Eric Didier. “We are glad to add OneKloud to the list of innovative companies partnering with these front-running names in venture capital, which share our values of accountability, flexibility, integrity and business model evolution,” he adds. “We are delighted to help OneKloud expand their offer and strengthen teams in both France and San Francisco. The funds invested will support the creation and launch of a range of cloud-infrastructure cost control tools throughout 2017,” explains Birchmere founding partner, Ned Renzi. “In line with the company’s objective of becoming the leading provider of cloud infrastructure cost control solutions, we want to support them in forging new ground in the use of predictive technology, to prevent cloud overspend before it happens,” he elaborates. “With headquarters in San Francisco and R&D offices in Bordeaux, France, OneKloud exemplifies the seamless, borderless innovation that we embrace,” says Benhamou Global Ventures founding partner, Eric Benhamou. “They successfully bring together the best of two worlds, to design and implement this simple solution for the complex problem of cloud infrastructure overspend,” he adds. -end- Download as a PDF About OneKloud OneKloud gets cloud infrastructure spending under total control by automatically enforcing budget quotas that are forecast and assigned per project and team, while managing workflow approval. A platform that eliminates cloud infrastructure misuse and drives day-to-day decision making to reflect high-level strategy, OneKloud reduces average cloud spending by 15% to 50%, while generating company-wide accountability. For additional information, visit www.onekloud.com. About Birchmere Ventures Birchmere focuses on seed stage SaaS companies and has offices in Pittsburgh and San Francisco.  With over $250m under management, Birchmere’s companies have achieved a cumulative market valuation of $14b. Across five funds and two decades, Birchmere has helped build numerous successful companies such as Cvent (event management – IPO), TenMarks (math tutoring – acquired by Amazon) CyOptics (optical chips – acquired by Avago), Neolinear (EDA – acquired by Cadence), and FreeMarkets (B2B marketplace – IPO). For additional information, visit birchmerevc.com/. About Benhamou Global Ventures BGV is an early-stage venture capital firm with deep Silicon Valley roots, with an exclusive focus on enterprise information technology opportunities in global markets. BGV currently has 25 active companies in its portfolio.  The BGV team of 8 investment professionals has successfully built and implemented a cross-border venture-investing model with companies from Israel, Europe and Asia. Eric Benhamou, former chairman and CEO of 3Com, Palm and co-founder of Bridge Communications, founded the firm in 2004. Comprised of an experienced partnership team of global operating executives and investors, BGV is often the first and most active institutional investor in a company and has a powerful network of technical advisors, executives and functional experts who actively engage with its portfolio companies. The company has offices in Palo Alto, California and Tel Aviv, Israel.  For additional information, visit www.benhamouglobalventures.com. About Wharton Alumni Angels Wharton Alumni Angels foster an entrepreneurial community backed by the strength of the Penn and Wharton alumni network. We help members and entrepreneurs:
  •       Develop and build relationships around investment opportunities
  •       Learn about angel investing and discover the tools needed to become a better investor
  •       Connect with exceptional mentors
  •       Be a trusted, go-to destination for capital, advisory, or educational needs
Wharton Alumni Angels is also proud to be a member of Angel Capital Association (ACA). For additional information visitwww.whartonalumniangels.com.
Source: https://www.onekloud.com/press/onekloud-successfully-raises-a-1-million-seed-round-for-its-cloud-infrastructure-cost-control-platform-based-on-predictive-technology
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