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Cybersecurity startup SpiderSilk raises $2.25M to help prevent data breaches

Dubai-based cybersecurity startup SpiderSilk has raised $2.25 million in a pre-Series A round, led by venture firms Global Ventures and STV.

In the past two years, SpiderSilk has discovered some of the biggest data breaches: Blind, the allegedly anonymous social network that exposed private complaints by Silicon Valley employees; a lab leaked highly sensitive Samsung source code; an inadvertently public code repository revealed apps, code, and apartment building camera footage belonging to controversial facial recognition startup Clearview AI; and a massive spill of unencrypted customer card numbers at now-defunct MoviePass may have been the final nail in the already-beleaguered subscription service’s casket.

Much of those discoveries were found from the company’s proprietary internet scanner, SpiderSilk co-founder and chief security officer Mossab Hussein told TechCrunch.

Any company would want their data locked down, but mistakes happen and misconfigurations can leave sensitive internal corporate data accessible from the internet. SpiderSilk helps its customers understand their attack surface by looking for things that are exposed but shouldn’t be.

The cybersecurity startup uses its scanner to map out a company’s assets and attack surfaces to detect vulnerabilities and data exposures, and it also simulates cyberattacks to help customers understand where vulnerabilities are in their defenses.

“The attack surface management and threat detection platform we built scans the open internet on a continuous basis in order to attribute all publicly accessible assets back to organizations that could be affected by them, either directly or indirectly,” SpiderSilk’s co-founder and chief executive Rami El Malak told TechCrunch. “As a result, the platform regularly uncovers exploits and highlights how no organization is immune from infrastructure visibility blind-spots.”

El Malak said the funding will help to build out its security, engineering and data science teams, as well as its marketing and sales. He said the company is expanding its presence to North America with sales and engineering teams.

It’s the company’s second round of funding, after a seed round of $500,000 in November 2019, also led by Global Ventures and several angel investors.

“The SpiderSilk team are outstanding partners, solving a critical problem in the ever-complex world of cybersecurity, and protecting companies online from the increasing threats of malicious activity,” said Basil Moftah, general partner at Global Ventures.

Investors in LatAm get bitten by the hotel investment bug as Ayenda raises $8.7 million

Some of Latin America’s leading venture capital investors are now backing hotel chains.

In fact, Ayenda, the largest hotel chain in Colombia, has raised $8.7 million in a new round of funding, according to the company.

Led by Kaszek Ventures, the round will support the continued expansion of Ayenda’s chain of hotels in Colombia and beyond. The hotel operator already has 150 hotels operating under its flag in Colombia and has recently expanded to Peru, according to a statement.

Financing came from Kaszek Ventures and strategic investors like Irelandia Aviation, Kairos, Altabix and BWG Ventures.

The company, which was founded in 2018, now has more than 4,500 rooms under its brand in Colombia and has become the biggest hotel chain in the country.

Investments in brick and mortar chains by venture firms are far more common in emerging markets than they are in North America. The investment in Ayenda mirrors big bets that SoftBank Group has made in the Indian hotel chain Oyo and an investment made by Tencent, Sequoia China, Baidu Capital and Goldman Sachs, in LvYue Group late last year, amounting to “several hundred million dollars”, according to a company statement.

“We’re seeking to invest in companies that are redefining the big industries and we found Ayenda, a team that is changing the hotel’s industry in an unprecedented way for the region”, said Nicolas Berman, Kaszek Ventures partner.

Ayenda works with independent hotels through a franchise system to help them increase their occupancy and services. The hotels have to apply to be part of the chain and go through an up to 30-day inspection process before they’re approved to open for business.

“With a broad supply of hotels with the best cost-benefit relationship, guests can travel more frequently, accelerating the economy,” says Declan Ryan, managing partner at Irelandia Aviation.

The company hopes to have more than 1 million guests in 2020 in their hotels. Rooms list at $20 per-night, including amenities and an around the clock customer support team.

Oyo’s story may be a cautionary tale for companies looking at expanding via venture investment for hotel chains. The once high-flying company has been the subject of some scathing criticism. As we wrote:

The New York Times  published an in-depth report on Oyo, a tech-enabled budget hotel chain and rising star in the Indian tech community. The NYT wrote that Oyo offers unlicensed rooms and has bribed police officials to deter trouble, among other toxic practices.

Whether Oyo, backed by billions from the SoftBank  Vision Fund, will become India’s WeWork is the real cause for concern. India’s startup ecosystem is likely to face a number of barriers as it grows to compete with the likes of Silicon Valley.

EV fleet management gets another venture-backed contender as Electriphi raises $3.5 million

Electriphi, a provider of charging management and fleet monitoring software for electric vehicles, has joined the scrum of startups looking to provide services to the growing number of electric vehicle fleets in the U.S.

The San Francisco-based company has just raised $3.5 million in seed funding from investors including Wireframe Ventures, the Urban Innovation Fund, and Blackhorn Ventures. Lemnos Labs and Acario Innovation also participated in the round.

Electriphi’s pitch has resonated with school districts. It counts the Twin Rivers Unified School District in Sacramento, Calif. as one of its benchmark customers.

“Twin Rivers Unified School District has the largest fleet of electric school buses in North America, and our ambition is to transition to a fully electric fleet in the coming years,” said Tim Shannon, transportation services director, Twin Rivers Unified School District, in a statement. “This is a significant undertaking, and we needed a trusted partner that could provide us state-of-the-art charging management and help us with data collection and monitoring.”

There are several companies pursuing this market — all with either a bit of a head start, significant corporate backers, or more capital. Existing offerings from EVConnect, GreenLots,  GreenFlux, AmplyPower all compete with Electriphi.

The company is betting that the experience of co-founder, Muffi Ghadiali, a former senior director at ChargePoint who led hardware and software development for fast charging infrastructure, can sway customers. Joining Ghadiali is Sanjay Dayal, who previously worked at Agralogics, Tibco, Xamplify, Versata and Sybase

There’s also the sheer scale of the opportunity, which is likely to see multiple companies emerge as winners.

“There are millions of public and commercial fleet vehicles in the U.S. alone that we rely on daily for transportation, delivery and services, ” said Paul Straub, managing partner, Wireframe Ventures. “Many of these are beginning to consider electrification and the opportunity is tremendous.”

Volkswagen’s new all-electric concept wagon could be coming to the U.S. by 2022

Volkswagen revealed Tuesday evening a new concept vehicle called the ID Space Vizzion, and despite the crazy Frank Zappaesque name, this one might actually make it into production in Europe and North America.

The ID Space Vizzion is the seventh concept that VW has introduced since 2016 that uses its MEB platform, a flexible modular system — really a matrix of common parts — for producing electric vehicles that VW says make it more efficient and cost-effective.

The first vehicles to use this MEB platform will be under the ID brand, although this platform can and will be used for electric vehicles under other VW Group brands such as Skoda and Seat. The ID.3 is the first model in its new all-electric ID brand and the beginning of the automaker’s ambitious plan to sell 1 million EVs annually by 2025. A production version of the ID. 3 was unveiled in September.

The ID Space Vizzion is equipped with a rear-mounted 275-horsepower motor and a 82 kilowatt-hour battery pack with a range of up to 300 miles under the EU’s WLTP cycle. A second motor can be added to give it all-wheel drive capability and a total output of 355 horsepower.

This concept will likely be described in a number of ways — and during the event at the Petersen Museum in Los Angeles it was — but this is a wagon through and through.

What the ID. Space Vizzion will ultimately look like is unclear although much of the shape and overall stance shown Tuesday evening. But Scott Keogh, CEO of Volkswagen of America, did say in his closing remarks that something like the concept shown tonight will come to the U.S.