Congratulations to Kelly Harrel and the Hazelcast team on closing an USD 50M round to power up in-memory grid computing! C5 is delighted to be partnered with the winning Hazelcast team.
Congratulations to C5 portfolio company Blue Cedar who are partnering with Microsoft to automate enterprise adoption of Microsoft InTune security controls
The Emerging Cyber-Space Nexus: Why C5 Capital Invested in Satelles
William Kilmer Author
Yesterday C5 Capital announced its investment in Satelles, a US-based provider of secure Satellite Time and Location (STL) services. C5 led the $26M round, which included both financial investors and participation from strategic partner Iridium Communications. This investment marks the first time C5 Capital has invested in a company involved in the space economy, a sector which is projected to more than triple to become $1 trillion market by 2040.
Our specialization in cyber security has taught us one very clear lesson, that cyber attacks know no boundaries. Unfortunately, this means that the space economy is subject to the same vulnerabilities and threats as the rest of our infrastructure, and what can be exploited, will be exploited. At risk are the applications that run off of traditional Global Positioning System (GPS) and other Global Navigation Satellite Systems (GNSS), which can be spoofed, disrupted or are subject to the performance limitations of GPS on requirements such as in-building coverage. Applications in key markets such as government, telecom, energy, critical infrastructure, financial services, data center applications, mobile applications, and logistics increasingly rely on secure time and location signals from space and are subject to disruption.
An attack on global positioning and navigation systems, which can include jamming, hacking, or spoofing—a method by which a radio transmitter near the target is used to interfere with a legitimate GPS signal, could make these applications fail or be viewed as untrustworthy. The news media have already highlighted issues with GPS spoofing, and GPS downtime is increasingly seen as a national security and economic threat, resulting in calls for a secure backup or alternative to GPS. A recent report, sponsored by the US National Institute of Standards of Technology, estimated that a 30-day interruption to GPS would result in a $45 billion loss to the US economy alone.
Satelles overcomes these issues with a secure time and location service that runs over the Iridium constellation of 66 Low-Earth Orbiting (LEO) satellites, allowing devices to connect from almost anywhere on the planet. With a direct partnership with Iridium, Satelles is able to exclusively provide the service over Iridium’s existing LEO satellite infrastructure with superior coverage and a signal that is 1,000 times stronger than GPS. This produces a service that achieves much higher in-building penetration, allowing a greater use of applications.
Importantly, Satelles’ unique technology and partnership with Iridium has allowed them to create a truly scalable and trusted STL as a service platform which can be turned on and off by region, thus creating a truly unique business model.
Finally, we believe Satelles be successful because it is run by an innovative team, including serial entrepreneurs and satellite experts Michael O’Connor and Gregory Gutt. Both Ph.D.’s from Stanford, Mike and Greg have studied and worked with other GPS technology pioneers, developed innovative GPS technology, and successfully started and grew the satellite-based farming automation company Novariant. They know and understand the issues with global positioning and navigation and are the two most qualified individuals to run an innovative company like Satelles.
The combination of a new and growing market, proprietary technology and position, unique business model, and innovative team all line up to rocket Satelles forward to success. We look forward to working with the Satelles team as they continue the deployment of secure satellite time and location services.
As a side note, Satelles is C5 Capital’s first investment in the nexus of cyber and space, but not our only activity. C5 Accelerate, our accelerator arm, is currently sponsoring an early-stage accelerator cohort that includes companies focused on both cyber and space issues. One key event for this cohort will be with a panel for invited guests that includes thought leaders to discuss the issues around space and cyber on October 18th in Washington DC. If you are interested in attending that panel discussion, sign up at our invitation page. Report this
William KilmerAuthor | Investor | Company BuilderPublished • 59m37 articlesFollowingOur investment in Satelles was driven by a clear market need, a unique business model, and experienced team. As we become more dependent on secure time and location to drive our applications, Satelles’ on-demand satellite time and location (STL) service will be come a significant component in the space and terrestrial economies.
Satelles, Inc. Secures $26 Million in Series C Funding Round Led by C5 Capital
Investment drives next wave of growth and supports expansion into new markets
RESTON, Va., Oct. 9, 2019 /PRNewswire/ — Satelles, Inc. (www.satellesinc.com), innovative provider of highly secure satellite-based time and location services, today announced that it has raised $26 million in Series C funding. C5 Capital (www.c5capital.com) led the round, with participation from Iridium Communications (www.iridium.com) and existing investors. This new investment brings Satelles’s total funding since the launch of its platform to $39 million and will help the company expand its sales and marketing efforts, broaden its partner network, and accelerate product development.
Industry and government requirements for positioning, navigation, and timing (PNT) are expanding at a rapid pace, and the Satellite Time and Location (STL) broadcast signal from Satelles provides assured PNT across a range of applications and at scale. “Today’s world runs on systems requiring trusted time and location information, and C5 Capital shares our commitment to make it a more secure and better place,” said Dr. Michael O’Connor, CEO of Satelles. “We are delighted that C5 led this latest investment round because they bring great insight into cybersecurity, and their international network is unparalleled.”
Attacks such as jamming and spoofing — where a radio transmitter near the target is used to interfere with legitimate GPS or GNSS signals — and hacking are becoming more of a threat because of the key role that GPS and GNSS play in the operation of critical infrastructure. The Satelles STL platform brings unprecedented security to telecommunications networks, financial exchanges, electrical grids, maritime transportation systems, and many other sectors that depend on timing or location information. Downtime or malfunctions in these systems due to such attacks would be very costly. A June 2019 report sponsored by the National Institute of Standards and Technology estimated a $45 billion loss to the U.S. economy if GPS were to experience a 30-day service disruption.
The Satellite Time and Location broadcast service from Satelles is encrypted to thwart malefactors aspiring to spoof or otherwise disrupt the STL signal, which is delivered via the low-Earth-orbit (LEO) satellite constellation operated by Iridium, an investor in this financing round. “STL addresses a critical and growing need across many applications and industries, so Iridium’s investment in Satelles aligns with our strategic vision,” said Matt Desch, CEO of Iridium Communications. “Satelles’s technology is unique and powerful, and we are proud to host such an innovative service that solves important problems and leverages the unique capabilities of our network.”
The Iridium® satellite constellation-based system offers many advantages:
A signal 1,000 times stronger than GPS/GNSS is better at reaching users and facilities in GPS/GNSS-challenged environments such as inside buildings, underground locations, and urban canyons.
Overlapping and constantly moving spot beams enable revolutionary cybersecurity solutions that can rely on trusted time and location for authentication and data access.
Polar-orbiting, cross-linked satellites ensure truly global coverage.
The L-band frequency range allows small, low-cost equipment to receive the Satelles STL signal.
“The capabilities of Satellite Time and Location are enhanced by the technical and service delivery attributes of low-Earth-orbit satellites,” said Dr. Gregory Gutt, President and CTO of Satelles. “An extraordinary constellation such as Iridium’s gives us an incredible platform from which to deliver our trusted PNT solutions, so we remain committed to LEO technologies going forward.”
Commenting on the closure of the Series C investment in Satelles, Andre Pienaar, Managing Partner of C5 Capital, said, “Space is a rapidly developing battleground for cyber threats to critical infrastructure, and GPS is unable to meet all these challenges. Satelles has developed a powerful solution which not only prevents attacks but provides a stronger and more effective service through STL. We are pleased to have led this funding round and look forward to working closely with this remarkable business.”
Satelles provides secure time and location signals from low Earth orbit (LEO) independent of the Global Positioning System (GPS) and other Global Navigation Satellite Systems (GNSS). Satelles created its Satellite Time and Location (STL) service for the purpose of safeguarding against devastating attacks to GPS/GNSS capable of disrupting or disabling electrical grids, wireless communications networks, financial systems, and other private and public infrastructure in ways that seriously imperil the safety and security of our society.
Available anywhere on the planet, the STL service delivers assured positioning, navigation, and timing (PNT) via an encrypted satellite broadcast signal that is stronger and more secure than other solutions. The company offers assured PNT at levels of stability, reliability, and trust required by commercial enterprises and government entities across a range of critical infrastructure, IoT, and cybersecurity applications. Satelles partners with satellite receiver manufacturers to incorporate STL signal support into today’s latest equipment, bringing the benefits of Satellite Time and Location to customers around the world.
Satelles Media Contact
+1 (703) 282-1800
Corporate Website: https://www.satellesinc.com
About C5 Capital
C5 Capital Limited (C5) is a specialist venture capital firm focused on Innovative Technologies in Cyber Security, Artificial Intelligence, and Cloud Computing. Headquartered in London, C5 also has offices in Washington, Munich, Luxembourg, and Bahrain. For more information, visit: www.c5capital.com.
This press release was issued through 24-7PressRelease.com. For further information, visit http://www.24-7pressrelease.com.
SOURCE Satelles, Inc.
Congratulations to C5 Capital portfolio company Blue Cedar on winning the BlackBerry 2019 ISV Innovation Award for Speed and Depth of Security Integration Solution!
SAN FRANCISCO–Blue Cedar, the company that provides rapid, no code mobile app security integration to enterprises and independent software vendors (ISVs), today announced its acceptance of the BlackBerry 2019 ISV Innovation award, which recognizes Blue Cedar for its speed and depth of its BlackBerry Dynamics integration at the BlackBerry World Tour in London.
“Blue Cedar is committed to keeping the world safe as computing evolves from the cloud to the edge. And we believe our work with leading mobile security providers, like BlackBerry, strengthens the protection posture of large organizations”
“Blue Cedar has been a key partner in enabling Dynamics at scale with our customers,” said Peter Ng, Sr Director of Global Aliiances at BlackBerry. “We wanted to recognize the hard work and dedication Blue Cedar put into creating such an effective joint solution in a short amount of time.”
The Blue Cedar mobile app security integration platform secures and accelerates the deployment of native and third-party mobile apps through an automated, no-code solution. Blue Cedar collaborated with BlackBerry to create the Blue Cedar Accelerator for BlackBerry to automatically embed BlackBerry Dynamics SDKs, BlackBerry Analytics SDKs and BlackBerry AppConfig into mobile apps. The Blue Cedar platform can integrate BlackBerry Dynamics into any app, regardless of the app framework and databases used for development. The integrated solution provides a frictionless method to rapidly secure mobile apps with military-grade cryptography and enable enterprise-level controls, while saving substantial development hours and IT budget.
“Blue Cedar is committed to keeping the world safe as computing evolves from the cloud to the edge. And we believe our work with leading mobile security providers, like BlackBerry, strengthens the protection posture of large organizations,” said John Aisien, Founder and CEO, Blue Cedar. “We’re honored to be recognized for our no-code approach to security integration by our partners at BlackBerry and look forward to continuing our collaboration to solve problems enterprises face as they deploy and expand mobility initiatives.”
For more info on the Blue Cedar accelerator for BlackBerry, visit: https://www.bluecedar.com/integration-accelerator-blackberry
About Blue Cedar
Blue Cedar is the leading mobile app security integration platform for organizations who need to accelerate the integration of best-in-class security controls into their mobile apps through an automated, no-code, enterprise grade solution. Blue Cedar provides consistent protection while mitigating company risk of data exposure, ultimately saving thousands of development hours and substantial IT budget. Blue Cedar is funded by leading venture capital firms and is headquartered in San Francisco. For more information, visit www.bluecedar.com.
BlackBerry is a trusted security software and services company that provides enterprises and governments with the technology they need to secure the Internet of Things. Based in Waterloo, Ontario, the company is unwavering in its commitment to safety, cybersecurity and data privacy, and leads in key areas such as artificial intelligence, endpoint security and management, encryption and embedded systems. For more information, visit BlackBerry.com and follow @BlackBerry.
C5 Capital leads $51 million growth funding round into Shape Security, the leading online fraud prevention platform and the fastest growing company in Silicon Valley
C5 will use its network and experience to support Shape’s international expansion
London, September 12 2019: C5 Capital, the specialist venture capital firm focused on cyber security, data analytics and cloud computing, has led a $51 million financing round in Shape Security, maker of the leading platform for bot and online fraud mitigation for the world’s largest companies.
Investing alongside C5 are renowned Silicon Valley and corporate investors Kleiner Perkins, HPE Growth, Norwest Ventures Partners, Focus Ventures, JetBlue Technology Ventures, Top Tier Capital Partners, and EPIC Ventures. The new capital brings the total amount raised by Shape, founded in 2011, to $173 million with a pre-money valuation on the business of $1 billion.
Shape uses AI-powered automation and fraud detection capabilities to distinguish between human and automated traffic and defend some of the world’s largest enterprises against cyber-security initiated fraud against their online applications. Shape protects more than half of all online banking in North America as well as global brands across retail,telecommunications, government, travel and hospitality, insurance, and healthcare industries. As the world leader in online fraud prevention, the company protects more accounts from fraud than all other providers in the space combined and its technology detects and blocks up to two billion fraudulent or unwanted transactions every day.
C5 Capital’s investment comes as Shape focuses on international expansion and C5 will bring its network and experience in helping companies develop internationally to support Shape’s growth beyond the North American market and particularly in Europe where cyber fraud awareness remains lower than in the US.
The transaction marks the fourth investment for C5 Capital in 6 months and its sixth investment in the last 12 months, following its investments in in-memory grid provider Hazelcast, and Blue Cedar, a leading developer of no-code mobile app security solutions.
Shape was recently recognized as a World Economic Forum Technology Pioneer, as a CB Insights AI 100 company, and in the Deloitte Technology Fast 500™as the fastest-growing company in Silicon Valley and the third-fastest growing company in the US.
Commenting on the investment Andre Pienaar, Managing Partner C5 Capital, Said
“We are delighted to have led this funding round and excited by our investment in Shape which has established itself as the leading online fraud prevention platform. C5 will use its considerable experience in helping companies expand globally to support Shape as it targets international growth beyond its still fast-growing North American market.”
Commenting on the investment Derek Smith, co-founder and CEO of Shape Security, said:
“This investment will help us scale our international operations and fuel our AI development. Our new and returning investors, coupled with our continued track record of growth, underscore our vision to protect all enterprises from fraudulent Internet transactions.”
Press Contact – C5 Capital
Charlie Jack/Andrew Leach
0207 706 4133
About C5 Capital
C5 Capital Limited (C5) is a specialist venture capital firm, focused on Innovative Technologies in Cyber Security, Artificial Intelligence and Cloud Computing. Headquartered in London, C5 also has offices in Washington, Munich, Luxembourg and Bahrain. For more information, visit: www.c5capital.com.
About Shape Security
Shape Security, based in Mountain View, CA, invented the world’s first botwall in 2011. Today, Shape defends the world’s largest enterprises from all types of fraud against their online applications, including more than half of all online banking in North America. Shape’s fraud prevention platform detects and blocks up to 2 billion fraudulent or unwanted transactions daily, while keeping 200 million legitimate human logins and other interactions safe. Shape provides omnichannel protection for web applications, mobile applications and API interfaces; the company’s mobile SDK is deployed on more than 200 million iOS and Android devices worldwide. The company has been recognized as a World Economic Forum Technology Pioneer, as a CB Insights AI 100 company, and in the Deloitte Technology Fast 500™as fastest-growing company in Silicon Valley and the third-fastest growing company in the U.S. To learn more, visit www.shapesecurity.com.
Q – C5’s Shield in the Cloud Innovation Challenge was established in 2018, and having just announced the 2019 Shield in the Cloud Winners, what are the goals and motivations behind this event?
André Pienaar: The objective of the SITC is to recognise bold leadership and innovative, cloud-based solutions in combatting corruption on the world stage. Corruption can be defeated, and innovative technologies are creating new opportunities to tackle this corruption. Shield in the Cloud’s aim is to recognise and nurture the next phase of innovation and to encourage building networks and information sharing for solving complex challenges.
Q – How important is Shield in the Cloud, and events like it, in combating corruption and improving transparency worldwide?
André Pienaar: Tackling corruption is a complex and multidimensional task, and working as a collective can only make tackling it stronger. The Shield in the Cloud is about recognizing the organizations that are developing new technologies and applications. By working together, we can make policy and decision makers aware of what can be done.
Q – Next year, the Corruption Perception Index (CPI) will enter it’s 25th year, yet there are a number of countries, such as Zimbabwe and Iran, which remain stubbornly low on that list. How do you think that technological innovations can help improve this in these countries specifically?
André Pienaar: Innovation empowers actors and local communities to push for more transparency which is a major factor in taking power away from corrupt governments. Innovative technology empowers citizens by allowing them to participate directly in solutions; this level of control and active engagement directly makes a difference at the local level, and this is where the best solutions take hold over the long term. As corruption is becoming increasingly complex, these technologies fight through that complexity.
Hazelcast, the leading in-memory computing platform that delivers the System of Now™, today announced it has closed a $21.5 million funding round led by new investor C5 Capital, a UK-based venture capital firm focused on cybersecurity, data analytics and cloud computing. Existing investors Bain Capital Ventures, Earlybird Venture Capital and Capital One Growth Ventures also participated in the round. With this new investment, Hazelcast will accelerate its product roadmap and bolster go-to-market capabilities, including strategic partnering.
With $21.5M in new funding, Hazelcast will advance its in-memory computing leadership for Global 2000 enterprises.
According to Gartner(1), “Digital business model imperatives are demanding cost-effective support for real-time analytics, hyperscale architectures and fast access to data demanded by digital business models, which in turn drives fast growth for most in-memory computing (IMC)-enabling technologies and IMC-enabled architectures.”
“From the cloud to the internet of things, the macro trends hitting today’s enterprises require a new approach to data processing for meeting the time-sensitive demands of data-centric applications,” said Kelly Herrell, CEO of Hazelcast. “Hazelcast enables its customers to establish a System of Now through its platform that scales linearly and delivers the industry’s fastest processing for stored and streaming data, leaving competitive offerings far behind as data sizes and processing loads grow.”
A System of Now is an ultra-fast processing architecture for mission-critical applications where microseconds matter. The world’s most data-centric companies complement their systems of record, such as databases, by creating a System of Now that operates in near real-time to accelerate applications, such as online stores, fraud detection, online trading and other customer-facing use cases. Unlike the disk-based designs used by systems of record, the System of Now uses in-memory computing to process data at tremendous speed and scale, especially for new data-centric workloads.
With this new round, C5 Capital Managing Partner Marcos Battisti joins Hazelcast’s board of directors.
“Hazelcast is a true leader in a rapidly emerging new market dynamic,” Battisti said. “With an incredibly impressive customer list and its advanced in-memory computing architecture, Hazelcast will continue to gain recognition as the world’s largest organizations evolve their business applications to take advantage of the in-memory computing era.”
With a strong customer base consisting of predominantly Global 2000 enterprises, Hazelcast’s annual recurring revenue (ARR) has grown 300 percent in the past three years. Hazelcast customers include J.P. Morgan Chase, Charter Communications, Ellie Mae, UBS, National Australia Bank and many more.
Founded in 2012, Hazelcast launched its in-memory data grid (IMDG) product to directly address the inherent limitations of databases in use cases where microseconds count, including payment processing, microservices, fraud detection and many more. More recently, Hazelcast introduced two new products: Hazelcast Cloud, a managed service, and Hazelcast Jet, the industry’s fastest event stream processing engine.
Haven Cyber Technologies is pleased to announce that its operating company, Onevinn, has been named a finalist in the 2019 Microsoft Security and Compliance Partner of the Year Award. The company was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.
Olivier Weddrien, Executive Chairman of Haven Cyber Technologies, said, “It is an honor to have Onevinn named as a finalist. We pride ourselves in offering the best cloud security services and solutions to our clients, and it is very rewarding to see this recognized by Microsoft.”
Awards were presented in several categories, with winners chosen from a set of more than 2,900 entrants from 115 countries worldwide. Onevinn was recognized for providing outstanding solutions and services in security and compliance.
“It’s an honor to recognize finalists and winners of the Microsoft 2019 Partner of the Year Awards,” said Gavriella Schuster, Corporate Vice President, One Commercial Partner, Microsoft Corp. “These companies are successfully leading their industries, building intelligent solutions, addressing complex business challenges and making more possible for customers around the world. I’m honored to congratulate each winner and finalist.”
The Microsoft Partner of the Year Awards recognize Microsoft partners that have developed and delivered exceptional Microsoft-based solutions during the past year.
Haven Cyber Technologies is one of the fastest growing Managed Security Service Providers (MSSP) in Europe. It is backed by the specialist venture capital firm C5 Capital and currently has two operating companies, ITC Secure and Onevinn. Onevinn is the leading Swedish provider of Microsoft cloud security services and solutions.
Remarks by NATO Secretary General Jens Stoltenberg – Cyber Defence Pledge Conference, London
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