20m Series Sequoia Accelpagetechcrunch
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When Stairwell came out of stealth in 2020, the startup was shrouded in privacy. Now, with $20m in Series A funding, its creator and CEO Mike Wiacek, who previously served as chief security major at Chronicle, Google’s cybersecurity firm, is ready to speak.
Sequoia Capital India & Southeast Asia unveiled 15 early-stage startups it selected for the seventh cohort of its Surge accelerator program, driving new investment even as deal activity has slowed sharply in the region.
Since its launch in March 2019, the accelerator has helped its participating startups collectively raise more than $1.7 billion in follow-on funding, the venture firm said, with more than 60% of companies in the top five cohorts increasing his Serie A and beyond.
The Surge program, which has supported more than 127 startups, initially wrote checks for between $1 million and $2 million each on startups. But he has since increased the amount of the endorsement up to $3 million. Some notable startups from previous Surge cohorts include Doubtnut, Scaler Academy, Khatabook, Bijak, Classplus, Hevo Data, Juno, Atlan, BukuKas, Plum, and Apna Club.
20m Series Sequoia Accelpagetechcrunch
In addition to raising a $20 million investment round co-led by Sequoia Capital and Accel, Stairwell is launching Inception, a threat hunting platform designed to help organizations determine if they are now or have been compromised. Unlike other threat detection platforms, Inception takes an “inside-out” approach to cybersecurity that starts with looking inside an organization’s data.
“This helps you examine what’s around you first, before you start thinking about what’s going on in the outside world,” Wiacek tells TechCrunch. “The beauty of this approach is that it’s not information that outsiders, aka the bad guys, are privy to.”
This data, all of which is classified as suspicious, is continuously evaluated for new indicators and new threat information. According to Stairwell, this allows organizations to detect anomalies in just a few days instead of the industry average of 280 days and “accelerates” future detections.
“When you buy a threat intelligence feed from Vendor X. Do you really believe that someone who is spending hundreds of thousands? Or even millions of dollars to run an offensive campaign is not going to make sure that? What they are using is not the case either ? in that area?” Wiacek said. “They know what McAfee knows and they know what other antivirus engines know. But they don’t know what you know and that’s a very big advantage you have there.”
20m Series Sequoia Accel Page Techcrunch 2022
In the midst of the 2022 funding winter, Sequoia Capital led venture capital investments in India that year, closing 71 deals by November. Data from market research platform Venture Intelligence showed. Last year, the venture capital firm completed 103 transactions.
Some of Sequoia’s investments in 2022 include live video and audio platform Dyte, fintech startup Hubble, healthcare provider Kenko Health, climate-focused company Climes and influencer platform Rigi.Club, and B2B sales and information platform Apollo.io
Stairwell secures $20M Series A to help organizations
Stairwell’s $20 million Series A funding, less than 12 months after securing the $4.5 million seed funding, will be used to further advance the Inception platform and grow the startup’s headcount ; The Palo Alto-based company currently employs a modest 21 people.
The Inception platform, which the startup says will finally enable companies to “run away from the bad guys,” will be released in advance to a limited number of customers, with full general availability planned for 2022.
VC Investments 2022
Venture capital firms also faced a funding crisis in 2022, prompting them to scale back ambitious bets. Overall, VC firms faced a funding crisis in 2022. Prompting them to scale down their bets in the Indian startup ecosystem. In 2022, VC firms closed 1,075 deals in India by the end of November. Compared to 1,212 deals in the same period last year.
The year remain also marked by a significant decrease in deal sizes. Despite a modest decrease in the number of deals due to a slowdown in late-stage financing activity. Because of this, VC investments fell roughly 34% to $23.2 billion in 2022 (as of Nov. 30), compared to $35.4 billion in the same period last year.
As of November, Accel had invested in 54 startups in India. Maintaining its position as the second most active venture capital firm in India. But closing 19% fewer deals this year.
Pune-based Better Capital ranked third on the list of most active investors in 2022 with 52 deals this year.
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