Mine raises $9.5M to help people take control of their personal data

TechCrunch readers probably know that privacy regulations like Europe’s GDPR and California’s CCPA give them additional rights around personal data — like the ability to request that companies delete data. But how many of you have actually exercised that right?

An Israeli startup called Mine is working to make that process much simpler, and it announced this morning that it has raised $ 9.5 million in Series A funding.

The startup was founded by CEO Gal Ringel, CTO Gal Golan and CPO Kobi Nissan . Ringel and Golan are both veterans of Unit 8200, the cybersecurity unit of the Israeli Defense Forces.

Ringel explained that Mine scans users’ inboxes to help them understand who has access to their personal data.

“Every time that you do an online interaction, such as you sign up for a service or purchase a flight ticket, those companies, those services leave some clues or traces within your inbox,” he said.

Mine

Image Credits: Mine

Mine then cross-references that information with the data collection and privacy policies of the relevant companies, determining what data they’re likely to possess. It calculates a risk score for each company — and if the user decides they want a company to delete their data, Mine can send an automated email request from the user’s own account.

Ringel argued that this is a very different approach to data privacy and data ownership. Instead of building “fences” around your data, Mine makes you more comfortable sharing that data, knowing that you can take control when necessary.

“The product gives [consumers] the freedom to use the internet feeling more secure, because they know they can exercise their right to be forgotten,” he said.

Ringel noted that the average Mine user has a personal data footprint across 350 companies — and the number is more like 550 in the United States. I ran a Mine audit for myself and, within a few minutes, found that I’m pretty close to the U.S. average. (Ringel said the number doesn’t include email newsletters.)

Mine launched in Europe earlier this year and says it has already been used by more than 100,000 people to send 1.3 million data deletion requests.

The legal force behind those requests will differ depending on where you live and which company you are emailing, but Ringel said that most companies will comply even when they’re not legally required to do so, because it’s part of creating a better privacy experience that helps them “earn trust and credibility from consumers.” Plus, “Most of them understand that if you want to go, they’ve already lost you.”

The startup’s core service is available for free. Ringel said the company will make money with premium consumer offerings, like the ability to offload the entire conversation with a company when you want your data deleted. It will also work with businesses to create a standard interface around privacy and data deletion.

As for whether giving Mine access to your inbox creates new privacy risks, Ringel said that the startup collects the “bare minimum” of data — usually just your email address and your full name. Otherwise, it knows “the type of data, but not the actual data” that other companies have obtained.

“We would never share or sell your data,” he added.

The Series A was led by Google’s AI-focused venture fund Gradient Ventures, with participation from e.ventures, MassMutual Ventures, as well as existing investors Battery Ventures and Saban Ventures. Among other things, Ringel said the money will fund Mine’s launch in the United States.

Startups – TechCrunch

Secureframe raises $4.5M to help businesses speed up their compliance audits

While certifications for security management practices like SOC 2 and ISO 27001 have been around for a while, the number of companies that now request that their software vendors go through (and pass) the audits to be in compliance with these continues to increase. For a lot of companies, that’s a harrowing process, so it’s maybe no surprise that we are also seeing an increase in startups that aim to make this process easier. Earlier this month, Strike Graph, which helps automate security audits, announced its $ 3.9 million round, and today, Secureframe, which also helps businesses get and maintain their SOC 2 and ISO 27001 certifications, is announcing a $ 4.5 million round.

Secureframe’s round was co-led by Base10 Partners and Google’s AI-focused Gradient Ventures fund. BoxGroup, Village Global, Soma Capital, Liquid2, Chapter One, Worklife Ventures and Backend Capital participated. Current customers include Stream, Hasura and Benepass.

Image Credits: Secureframe

Shrav Mehta, the company’s co-founder and CEO, spent time at a number of different companies, but he tells me the idea for Secureframe was mostly born during his time at direct-mail service Lob.

“When I was at Lob, we dealt with a lot of issues around security and compliance because we were sometimes dealing with very sensitive data, and we’d hop on calls with customers, had to complete thousand-line security questionnaires, do exhaustive security reviews, and this was a lot for a startup of our size at the time. But it’s just what our customers needed. So I started to see that pain,” Mehta said.

Secureframe co-founder and CEO Shrav Mehta

Secureframe co-founder and CEO Shrav Mehta

After stints at Pilot and Scale AI after he left Lob in 2017 — and informally helping other companies manage the certification process — he co-founded Secureframe together with the company’s CTO, Natasja Nielsen.

“Because Secureframe is basically adding a lot of automation with our software — and making the process so much simpler and easier — we’re able to bring the cost down to a point where this is something that a lot more companies can afford,” Mehta explained. “This is something that everyone can get in place from day one, and not really have to worry that, ‘hey, this is going to take all of our time, it’s going to take a year, it’s going to cost a lot of money.’ […] We’re trying to solve that problem to make it super easy for every organization to be secure from day one.”

The main idea here is to make the arcane certification process more transparent and streamline the process by automating many of the more labor-intensive tasks of getting ready for an audit (and it’s virtually always the pre-audit process that takes up most of the time). Secureframe does so by integrating with the most-often used cloud and SaaS tools (it currently connects to about 25 services) and pulling in data from them to check up on your security posture.

“It feels a lot like a QuickBooks or TurboTax-like experience, where we’ll essentially ask you to enter basic details about your business. We try to autofill as much of it as possible from third-party sources — then we ask you to connect up all the integrations your business uses,” Mehta explained.

The company plans to use much of the new funding to staff up and build out these integrations. Over time, it will also add support for other certifications like PCI, HITRUST and HIPAA.

Startups – TechCrunch

[Varo Money in Business Insider] Varo has rolled out a small-dollar loan offering

The US neobank’s newly debuted Varo Advance offering gives customers access to short-term loans of $ 20–$ 100. Customers are charged nothing for a $ 20 advance, with the charge ranging up to $ 5 for a $ 100 advance, and customers can pay off the loan whenever they like within a 30-day window.

Read more here.

The post [Varo Money in Business Insider] Varo has rolled out a small-dollar loan offering appeared first on OurCrowd Blog.

OurCrowd Blog

Are payroll issues common in the startup world?!

I work at a startup — it’s just over a year old. Love the people, work and mission of the company…only thing is, payroll is always late as fuck.

Right now we are going on a month and 5 days, and this is not new. He said he has been dealing with the bank flagging his accounts and not letting him access money (which maybe??) but it’s been a “bank issue” since I started 6 months ago. Also, he often reverts to Venmo or PayPal-ing us…which seems a bit odd/illegal.

Everyone is getting pretty fed up so I talked to him about it since I’m technically HR and am supposed to be looking out for employees including myself. He basically said we are all young and don’t know the startup world, where late payroll is very common; and, if we can’t take it, to quit. I have talked to my friends and connections about it and they say that this is really fucked up, but I am wondering, is this common in the startup world? To be very clear, we were not told “hey we have no investor money so payroll we be a mess and late so that’s part of the deal” when hired but promised TIMELY, twice a month, salaries.

Also to put in context we have 9 full time employees, are contracting an ad agency (whose payments are also late), and had contractors (who are now on pause because they won’t work unless paid) and no investor money since he’s self funding it as of rn.

So is this common in the startup world? I feel like payroll should always be prioritized especially when he’s paying himself on time, buying things and constantly hiring more people.

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Rocket Lab’s Peter Beck is coming to TC Sessions: Space 2020

Over the last few years Rocket Lab has gone from its very first orbital launch to regular commercial missions, with the goal of being the most responsive launch provider on the planet. Founder and CEO Peter Beck will join us at our all virtual TC Sessions: Space event happening on December 16 & 17 to talk about the new launch ecosystem and building a company to compete with industry giants.

Rocket Lab’s 15th mission, “In Focus,” is scheduled to take off this very afternoon, with 10 Earth observation satellites from Canon Electronics and Planet. It has already put satellites in orbit for NASA, the NRO and numerous private companies. The company’s launch cadence has slowly increased, though the loss of a mission in July soured its plan to go from months to weeks between launches.

But Beck, who has led the company from its inception in 2006, saw this as just another challenge to take head-on, and within the month Rocket Lab had gotten to the bottom of the issue and was clear to fly again.

“If you’re going to own a rocket company and launch vehicles, you have to be prepared for this kind of thing,” he said at the time. And now Electron is even more reliable than it was before, he pointed out.

Now Rocket Lab is expanding into adjacent businesses as well, with the secretive launch of its First Light satellite platform, demonstrating tech that it hoped to share with customers who don’t want to build a satellite from scratch. “It’s just really painful to go from an idea to getting something in orbit,” he said, and by making it easier to actually build a spacecraft, it both democratizes space and creates customers out of thin air.

At TC Sessions: Space, Beck will discuss all of this and more. You can get early-bird tickets right now, and save $ 100 before prices go up on November 13 — and you can even get a fifth person free if you bring a group of four from your company. Special discounts for current members of the government/military/nonprofit and student tickets are also available directly on the website. And if you are an early-stage space startup looking to get exposure to decision makers, you can even exhibit for the day for just $ 360.

Is your company interested in presenting your company at TC Sessions: Space 2020Click here to talk with us about available opportunities.

Startups – TechCrunch

Chamber of Commerce and Russia’s Economic Operations with African Countries – Modern Diplomacy

Chamber of Commerce and Russia’s Economic Operations with African Countries  Modern Diplomacy
“nigeria startups when:7d” – Google News

This former Tesla CIO just raised $150 million more to pull car dealers into the 21st century

“I have to choose my words carefully,” says Joe Castelino of Stevens Creek Volkswagen in San Jose, Ca., when asked about the software on which most car dealerships rely for inventory information, to manage marketing, to handle customer relationships and to otherwise help sell cars.

Castelino, the dealership’s service director, laughs as he says this. But the joke has apparently been on car dealers, most of whom have largely relied on a few frustratingly antiquated vendors for their dealer management systems over the years — along with many more sophisticated point solutions.

It’s the precise opportunity that former Tesla CIO, Jay Vijayan, concluded he was well-positioned to address while still in the employ of the electric vehicle giant.

As Vijayan tells it, he knew nothing about cars until joining Tesla in 2011, following a dozen years of working in product development at Oracle, then VMWare. Yet he learned plenty over the subsequent four years. Specifically, he says he helped to build with Elon Musk a central analysis system inside Tesla, a kind of brain that could see all of the company’s internal systems, from what was happening in the supply chain to its factory systems to its retail platform.

Tesla had to build it itself, says Vijayan; after evaluating the existing software of third company providers, the team “realized that none of them had anything close to what we needed to provide a frictionless modern consumer experience.”

It was around then that a lightbulb turned on. If Tesla could transform the experience for its own customers, maybe Vijayan could transform the buying and selling experience for the much bigger, broader automotive industry. Enter Tekion, a now four-year-old, San Carlos, Ca., company that now employs 470 people and has come far enough along that just attracted $ 150 million in fresh funding led by the private equity investor Advent International.

With the Series C round — which also included checks from Index Ventures, Airbus Ventures, FM Capital and Exor, the holding company of Fiat-Chrysler and Ferrari — the company has now raised $ 185 million altogether. It’s also valued at north of $ 1 billion. (The automakers General Motors, BMW, and the Nissan-Renault-Mitsubishi Alliance are also investors.)

Eric Wei, a managing director at Advent, says that over the last decade, his team had been eager to seize on what’s approaching a $ 10 billion market annually. Instead, they found themselves tracking incumbents Reynolds & Reynolds, CDKGlobal and Dealertrack, which is owned by Cox Automotive, and waiting for a better player to emerge.

Then Wei was connected to Tekion through Jon McNeill, a former Tesla president and an advisory partner to Advent.

Says Wei of seeing its tech compared with its more established rivals: “It was like comparing a flip phone to an iPhone.”

Perhaps unsurprisingly, McNeill, who worked at Tesla with Vijayan, also sings the company’s praises, noting that Tekion even bought a dealership in Gilroy — the “garlic capital” of California — to use as a kind of lab while it was building its technology from scratch.

Such praise is nice, but more importantly, Tekion is attracting the attention of dealers. Though citing competitive reasons, Vijayan declined to share how many have bought its cloud software —  which connects dealers with both manufacturers and car buyers and is powered by machine learning algorithms — he says it’s already being used across 28 states.

One of these dealerships is the national chain Serra Automotive, whose founder, Joseph Serra, is now an investor in Tekion.

Another is that Volkswagen dealership in San Jose, where Castelino — who doesn’t have a financial interest in Tekion — speaks enthusiastically about the time and expenses his team is saving because of Tekion’s platform.

For example, he says a customers need only log-in now to flag a particular issue. After that, with the help of an RFID tag, Stevens Creek knows exactly when that customer pulls into the dealership and what kind of help they need, enabling people to greet him or her on arrival. Tekion can also make recommendations based on a car’s history. It might, for instance, suggest to a customer a brake fluid flush “without an advisor having to look through a customer’s history,” he says.

As important, he says, the dealership has been able to cut ties with a lot of other software vendors, while also making more productive use of its time. Says Castelino, “As soon as a [repair order] is live, it’s in a dispatcher’s hand and a technician can grab the car.”

It’s like that with every step, he insists. “You’re saving 15 minutes again and again, and suddenly, you have three hours where your intake can be higher.”

Startups – TechCrunch