Category: Okta

The Password Defense


This post is by Om Malik from On my Om


U.S. President Joe Biden has informed Americans that a potential cyberwar with Russia is likely. And we should be prepared for the consequences and havoc it can cause on such a society. It is common knowledge many of our industries, corporations, and infrastructure services, such as the electrical grid, are weak and can fall victim to large-scale attacks. Even Americans have weak defenses on our computers.  

“Given the administration’s stellar track record in predicting Russian moves in its attack on Ukraine, we should take this warning seriously,” wrote Richard Bennett, a writer, and analyst focusing on telecom and network. “Cyberwar is a business conducted by firms and individual actors with a rapidly changing arsenal of software-based tools.” 

The timing of the White House release was at best a coincidence, and at worst, curious since it came on the same day Apple experienced a massive outage in its online services. To be very clear, what I am about to write is hypothetical, and I am putting it in my “what if” buckets. 

An odd and somewhat crazy thought crossed my mind — what if the outage resulted from an attempt to compromise Apple’s crown jewel — its Keychain, end-to-end encryption, and the iMessage. Like many, I have had blind faith in Apple’s capabilities to protect my privacy and data. I am not alone, and many folks in the government and corporate America have faith in Apple’s capabilities. So this keychain could be a single point of information security failure that could (Read more...)

More funding flows into Pipe, as buzzy fintech raises $250M at a $2B valuation



At the end of March, TechCrunch reported that buzzy startup Pipe — which aims to be the “Nasdaq for revenue” — had raised $150 million in a round of funding that values the fintech at $2 billion.

Well, that deal has closed and in the end, Miami-based Pipe confirms that it has actually raised $250 million at a $2 billion valuation in a round that was “massively oversubscribed,” according to co-founder and co-CEO Harry Hurst.

“We had originally allocated $150 million for the round, but capped it at $250 million although we could have raised significantly more,” he told TechCrunch.

As we previously reported, Baltimore, Maryland-based Greenspring Associates led the round, which included participation from new investors Morgan Stanley’s Counterpoint Global, CreditEase FinTech Investment Fund, Fin VC, 3L and Japan’s SBI Investment. Existing backers such as Next47, Marc Benioff, Alexis Ohanian’s Seven Seven Six, MaC  Ventures and Republic also put money in the latest financing.

The investment comes about 2 ½ months after Pipe raised $50 million in “strategic equity funding” from a slew of high-profile investors such as Siemens’ Next47 and Jim Pallotta’s Raptor Group, Shopify, Slack, HubSpot, Okta and Social Capital’s Chamath Palihapitiya. With this latest round, Pipe has now raised about $316 million in total capital. The new funding was raised at “a significant step up in valuation” from the company’s last raise.

As a journalist who first covered Pipe (Read more...)

Pipe, which aims to be the ‘Nasdaq for revenue,’ raises more money at a $2B valuation



Fast-growing fintech Pipe has raised another round of funding at a $2 billion valuation, just weeks after raising $50M in growth funding, according to sources familiar with the deal.

Although the round is still ongoing, Pipe has reportedly raised $150 million in a “massively oversubscribed” round led by Baltimore, Md.-based Greenspring Associates. While the company has signed a term sheet, more money could still come in, according to the source. Both new and existing investors have participated in the fundraise.

The increase in valuation is “a significant step up” from the company’s last raise. Pipe — which only launched its platform last June — has declined to comment on the deal.

A little over one year ago, Pipe raised a $6 million seed round led by Craft Ventures to help it pursue its mission of giving SaaS companies a funding alternative outside of equity or venture debt.

The buzzy startup’s goal with the money was to give SaaS companies a way to get their revenue upfront, by pairing them with investors on a marketplace that pays a discounted rate for the annual value of those contracts. (Pipe describes its buy-side participants as “a vetted group of financial institutions and banks.”)

Just a few weeks ago, Miami-based Pipe announced a new raise — $50 million in “strategic equity funding” from a slew of high-profile investors. Siemens’ Next47 and Jim Pallotta’s Raptor Group co-led the round, which also included participation from Shopify, Slack, HubSpot, Okta, Social Capital’s Chamath Palihapitiya, Marc Benioff, (Read more...)