20-50% of help desk calls are in reference to password resets. 80% of cybersecurity attacks are focused on passwords. 92% of businesses believe passwordless authentication is the future of business. HYPR makes a passwordless future a reality with its multi-factor authentication platform that provides industry-leading security without the hassle of remembering passwords. The company focuses on delivering a better user experience with the convenience of smartphones combined with the security of a smart card. The immense shift to work from home has only further accelerated the need for modern security solutions in a remote world and HYPR has been able to more than triple its ARR since its previous funding in the fall of 2019. AlleyWatch caught up with Cofounder and CEO George Avetisov to learn more about the impact the pandemic has on the state of security, the company’s impressive traction, growth plans, and latest round of funding led by Advent International.
RFC-AW
Mantra Health Adds Another $2M for Digital Mental Healthcare Clinics for College Students
According to the NIH, 71% of college students reported that stress and anxiety had increased due to COVID. Some of the most common stressors identified were concern over personal and familial health, difficulty concentrating, disruptive sleeping patterns, and decreased social interactions. However, only 5% of these respondents reported using mental health counseling services. Mantra Health is a digital mental health platform that partners with universities and colleges to make mental healthcare accessible to these students. The company offers at its core, a telehealth platform that provides students with access to licensed psychiatrists and therapy providers in the Mantra network and a back-end platform that allows the university to refer and monitor their students’ cases, supported by a robust EHR system. Students can now access vetted providers in minutes rather than weeks without worrying about cost; payment is a blend of insurance and university-sponsored. Mantra is live at campuses across six states presently with plans to provide nationwide coverage before the fall semester. AlleyWatch caught up with Cofounder & CEO Ed Gaussen to learn more about the importance of making mental health accessible for college students, the company’s future expansion plans, and recent seed extension from investors that include Canaan Partners, City Light Capital, and Baleon Capital, and Dr. Nitin Nanda.
#NYCtech Week in Review: 4/11/21 – 4/17/21
$418M+ invested in NYC startups in the past week. NYC Tech News for the week ending 4/17 featuring news for Tomorrow Health, Vericred, and much, much more…
The Weekly Notable Startup Funding Report: 4/19/21
The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 4/19/21 featuring funding details for Degreed, EcoCart, and twenty-two other rounds that you must know about.
What Is NFT? Non-Fungible Token Guide
Like the internet in the 1990s or social media in the early 2000s, NFTs will go down in history as one of the most significant things to happen in modern technology and culture at large. Big statement — I know — so let me tell you why I’m so excited.
Slice Raises Another $40M That Lets Local Pizzerias Establish Turnkey Digital Presences
The pandemic has increased the adoption of digital technologies for a number of industries. But this adoption isn’t necessarily symmetric for all industries, especially mom and pop independent pizzerias that have traditionally shied away from technology. Slice empowers these businesses by enabling them to harness the power of technology at a time when these restaurants need it the most. At its core, the company features an end-to-end ordering and marketing platform that helps local pizzerias build their digital and online presence in order to address the preferences of today’s digital consumers. The company also offers “Slice Register” (a proprietary POS system), a networked rewards/loyalty platform for pizza lovers, and an acceleration program that invests directly into technology for its partners. Supporting pizzerias on the front end is the consumer app that allows users to order directly from and support over 15,000 pizzerias. Slice charges a nominal, flat per-order fee, saving these pizzerias from the onerous, hefty commissions charged by third-party apps that are percentage-based. By its estimate, the company has already saved its partners over $250M in fees. AlleyWatch caught up with CEO and Founder Ilir Sela to learn more about the immense impact Slice has on not only pizzerias but also local economies, the value that selecting the right investors has had on the company’s trajectory, latest round of funding from investors that include Cross Creek, Dick Costolo and Adam Bain of 01 Advisors, GGV Capital, KKR, and Primary Venture Partners.
Volastra Therapeutics Adds $32M in Funding to Stop Metastasis of Cancer
The most effective treatment for cancer relies on early detection as this is before cancer has spread and is easiest to remove. The prognosis becomes bleaker when cancer has metastasized, referred to as Stage 4, and becomes difficult to control and cure. Therapies have traditionally been focused on treating primary cancer locations but these therapies are ineffective when cancer hasn’t been contained. Volastra Therapeutics is focused on developing cutting-edge therapies for chromosomal instability (CIN), an aberration from the normal 46 chromosomes. When CIN occurs, it’s one of the conduits that causes cancer to spread. Using a blend of machine learning, imaging, and bioinformatics to identify CIN, the Harlem-based company is able to pinpoint which cancers have a high likelihood of spreading and develop therapeutics accordingly. AlleyWatch caught up with Charles Hugh-Jones, MD to learn more about how Volstra’s technology is helping develop new therapeutics, future strategic plans, and recent seed extension round from investors that include Vida Ventures, Catalio Capital Management, Polaris Partners, Droia Ventures, ARCH Venture Partners, and Quark Venture.
SnackMagic Raises $15M for its Giftable Customizable Snack Service
Americans have an insatiable appetite for snacks and the idleness of the pandemic has only increased our yearning for snacks. There are countless subscription services for snack boxes and many of these companies offer gifting services to expand their market share beyond their primary customers. Recipients of a gift snack box never know what they are going to get until now. SnackMagic is a customizable snack box gifting service that allows the recipient to choose the contents of the box. All the sender needs to know is the amount they’d like to spend and the email address of the receiver. The company emerged out of a pandemic-induced pivot from a corporate lunch delivery service and is on track for a $20M ARR. SnackMagic focuses on edible gifts presently with plans to expand to meal kits, alcoholic beverages, desserts, and swag. AlleyWatch caught up with CEO and Cofounder Shaunak Amin to learn more about the company’s pivot, traction, future plans, and recent round of funding led by Craft Ventures.
Q1 2021: 13 Largest Global Startup Funding Rounds
Everything you need to need to know about the largest global startup funding rounds of Q1 2021; broken down by industry, stage, investors, and more…
Cylera Raises $10M for its Cybersecurity Platform for Healthcare IoT
The pandemic has accelerated the digital shift in many industries and healthcare has been a primary beneficiary. While the rise in telehealth comes top of mind, there have been a number of innovative IoT technologies that have been deployed during the pandemic to keep patients safer and care continuously like remote tracking of insulin levels and pacemakers or non-surgical robotics used for contactless disinfection. This has led to an increase in the number of connected devices being deployed in the field and ultimately these devices need to be secure. Cylera is a comprehensive cybersecurity and intelligent platform focused on IoT in the healthcare industry. The company focuses on asset management, risk analysis, and threat detection so that healthcare organizations can be safeguarded against any vulnerabilities as the adoption of devices increases. AlleyWatch caught up with CEO and Cofounder Timur Ozekcin to learn more about the inspiration for the business, the state of the healthcare IoT market, and the company’s recent funding from Concord Health Partners and Maverick Ventures, Contour Venture Partners, Two Sigma Ventures, Dreamit Ventures, Great Oaks Venture Capital, Red Bear Angels, and Samsung NEXT.
The 17 Largest US Tech Startup Funding Rounds of Q1 2021
Everything you need to need to know about the largest US startup funding rounds of Q1 2021; broken down by industry, stage, investors, and more…