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Hello and welcome to the Daily Crunch on October 26, 2021! Our one-day SaaS event – extravaganza? – starts tomorrow morning and I couldn’t be more hyped. In fact, I’m taking a break to polish my list of questions for our data-driven panel (DataRobot, Monte Carlo, and AgentSync; that’s going to be awesome) to write this newsletter for you. We’ll see each other there! – Alexis
The Top 3 TechCrunch
- Sequoia is rebuilding itself for the future of venture capital: With capital now a commodity and almost all VCs focusing on providing services, it is difficult to stand out in the adventure game. So are the harsh realities of startups staying private longer and the restrictions on how venture capitalists can invest. Sequoia thinks it has the solution.
- Jessica Rosenworcel at the head of FCC: Rosenworcel will be the first woman to lead the United States Federal Communications Commission, which is both good news and an accusation of the diversity of government in my country over the years. In addition, Gigi Sohn, who TechCrunch has called an “FCC veteran and tireless policy advocate,” has been named to the group. Sohn is well known for her work on net neutrality.
- In Sweetgreen’s IPO file: VC-backed fast and casual restaurant chain Sweetgreen is going public, so TechCrunch has spent some time digging through its numbers. Our conclusion is that the company has identified a notable part of the economy where it can fill a need, but is losing too much money.
- By the time this newsletter hits your inbox, Rent the Runway should have priced its IPO. Our first notes on his activity are here; more in the morning
Startups / VC
We have a parcel news on startups to discuss today, but first, TechCrunch dug into the U.S. Midwest yet again this morning, this time asking CEOs and investors across the region how impacted the fundraising boom and the increasingly flat global talent and capital market have on startups in the region.
- Indian AgTech is accelerating: Of course, it seems like every day another Indian startup throws a nine-digit turn. But this time it’s DeHaat, which focuses on agriculture, that catches my eye. According to TechCrunch, the company has built “an online platform that provides comprehensive agricultural services to farmers in India.” Considering the number of farmers in its market, DeHaat should not run out of TAM.
- Gusto acquires RemoteTeam: The American startup Gusto, specializing in human resources and payroll, has bought another company, she announced this morning. In order to support more international hires, she chose RemoteTeam. The increasingly global and distributed pool of tech talent has likely helped pull Gusto in that particular direction.
- DealShare is preparing to raise more capital: Back in India, TechCrunch can report from multiple sources that “Tiger Global and Falcon Edge Capital are looking to double their bets on DealShare,” putting possibly over $ 225 million in the business at a unicorn valuation. DealShare exists in the social commerce space, in case you’re wondering.
- How often do we talk about Connecticut startups? Not very often. But today was a great exception with LogicBroker raising $ 135 million in one go. The startup creates software for the transportation world (think e-commerce and dropshipping) and now has as much capital as it could have dreamed of at hand. Good on the nutmeg state.
- Piiano raises $ 9 million to help protect personal information: To find? PII-ano wants to help you retain personal information, or personal identification information, safe. The company is likely competing with Skyflow, which raised a lot of money last week. The market for data protection services is dynamic and potentially lucrative given that there is a lot of data in the world and its leakage is bad. (Note that this is not Piano, the subscription multimedia software launch.)
- SoftBank supports Pipefy: Gone are the days when SoftBank dropped a flat trilly on a dog walking startup or weightless pinball maker. Instead, the Japanese telecommunications technology investor, conglomerate and frenzy has invested $ 75 million in a low-code workflow management startup. How very pedestrian!
And there was so much more. Fabric has raised $ 200 million for bots to help with e-commerce order fulfillment. Indian bus startup Chalo bought another bus-focused startup. Jay-Z’s venture capital firm just closed its second fund and Devo has raised $ 250 million thanks to increased global cybersecurity spending.
To wrap up, TechCrunch has a great story about what happens when you mix up fiction, community, NFTs, and copyright issues.
Bridging the Gap: What CISOs Need to Do to Get the C-Suite on Their Side
On a good day, most people forget that the Information Security Officer even exists. But if something goes wrong, everyone will demand answers.
Keeping an organization’s security measures up to date while getting all stakeholders to implement safe security practices is a difficult task, complicated by the fact that many CISOs are not in the executive decision loop.
According to Sean McDermott, Founder and CEO of RedMonocle, CISOs should meet with leaders where they are.
“You already know why investing in cybersecurity is essential for your role. Now put yourself in your leadership shoes to explain why this is crucial to theirs, ”he writes.
(TechCrunch + is our membership program, which helps startup founders and teams get ahead. You can register here.)
Big Tech Inc.
- Social networks go to Congress: It appears that social media companies want to avoid the fate of Facebook to become a company best known for its cover-ups and late fixes. So, ahead of Congress today, TikTok, Snap, and YouTube shared new changes to their products that may help protect children. TikTok, however, was a little more data-savvy than we would have liked.
- Apple will deploy its software offering in 17 new markets: At the beginning of November, that is to say. According to TechCrunch, the service, called Apple One Premier, will include “Apple Music, Apple TV +, Apple Arcade, Apple Fitness +, and 2TB of iCloud storage” for a flat fee. In other news, do you remember when Apple product names were good?
- And from Adobe, there was plenty of news, including that the company is continuing its push to the cloud and keeping pace with adding support for NFTs to its products.
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