Tech in Brief: Jerusalem Venture Partners Named Partner in New York City Cybersecurity Center

Heed raises $35 million from Japan’s SoftBank for sports technology ■ Swiss-Israeli startup Starhome Mach sold to U.S. fund for reported $100 million ■ CTERA Networks raises $30 million from Singaporean-led group

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National flags of Israel sit on a desk partition as an employee speaks on a mobile phone at the Jerusalem Venture Partners JVP Media Labs in Jerusalem, Israel, on Wednesday, October 21 , 2015
National flags of Israel sit on a desk partition as an employee speaks on a mobile phone at the Jerusalem Venture Partners JVP Media Labs in Jerusalem, Israel, on Wednesday, October 21 , 2015Credit: Bloomberg

Jerusalem Venture Partners named partner in New York City cybersecurity center

The New York City Economic Development Corporation has selected venture capital firm Jerusalem Venture Partners as a partner in establishing a global cybersecurity center in the city. The initiative will receive a $30 million investment from the City of New York, followed by up to $70 million in private funds. Other partners include Columbia University, New York University and Cornell, the Israeli venture capital firm said Tuesday. As part of the initiative JVP has established a New York City hub focused on developing cybersecurity, artificial intelligence and big data technologies to serve the financial services, media, health care and other industries. JVP Chairman Erel Margalit said at least half of its new $200 million fund will be allocated to companies in the hub. “We will have 10 companies [a year] in this hub and not just seed companies,” Margalit said. JVP will leverage public-private partnerships with universities such as Columbia, Cornell and NYU and plans to work with other venture capital firms and strategic partners. (Reuters)

Heed raises $35 million from Japan’s SoftBank for sports technology

Heed, an Israeli-U.S. startup developing new ways for sports leagues and teams to engage with fans, said Tuesday it has raised $35 million in a round led by Japan’s SoftBank Group. Heed was founded just two years ago by Israeli Mati Kohavi, who heads AGT International, and the Hollywood superagent Ari Emanuel’s Endeavor talent agency. The company uses “internet of things” technology and social media to collect and analyze data on the emotional, physical and behavioral patterns of players, spectators and referees and to share key moments through automated content and video. Heed places sensors around the venue and potentially even on players’ clothing and equipment. Heed is headquartered in New York and employs 50 people at a research and development center in Herzilya. The company said it would use the proceeds to deepen cooperation with the sports leagues it works with. (Irad Atzmon Schmayer)

Swiss-Israeli startup Starhome Mach sold to U.S. fund for reported $100 million

Starhome Mach, a Swiss-based startup led by Israelis that helps online retailers and wholesalers with clearing, settlement and fraud prevention, has been acquired by U.S. investor Vista Equity Partners and will be merged with another Vista portfolio company. Vista said Tuesday it would merge Starhome Mach into Telarix, which develops billing, settlement and contract management software. “Our customers, many of whom already use Telarix’s solutions, want a single suite of integrated solutions to help manage the complexities and solve the challenges carriers face in ensuring seamless, ubiquitous connectivity for their customers,” said Starhome Mach CEO Itai Margalit. No price was given for Starhome Mach, which was sold by the Israeli private equity fund Fortissimo, but sources estimated it was $100 million. The combined entity will be headquartered in Vienna, Virginia and be led by Telarix CEO Marco Limena. The transaction, which is subject to customary closing conditions, is expected to close in the fourth quarter of 2018. (Assa Sasson)

CTERA Networks raises $30 million from Singaporean-led group

CTERA Networks, a cloud storage company that enables enterprises to share files securely, said Tuesday it had secured $30 million in capital from investors led by two Singapore investors. Red Dot Capital Partners, a growth fund backed by Singapore’s Temasek Holdings, led the round with the support of Singtel Innov8, CTERA said. Existing shareholders Benchmark Capital, Bessemer Venture Partners, Cisco, Venrock, Vintage Investment Partners and Viola Group joined the round. Proceeds will be used to expand CTERA’s global sales and delivery organization, especially in Singapore and other Southeast Asian nations, and for continued development of CTERA’s patented file services technology. CTERA says that over the past year it has more than doubled its enterprise software subscription revenue, signed strategic reselling agreements with IBM and HPE, and won customers like McDonald’s and the U.S. Defense Department. CTERA was founded in 2008 and has 140 employees, 80 in Israel. (Amitai Ziv)

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