Tag Archive for: Moves

Money Moves: McLean healthcare workforce platform ShiftMed raised $45M

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ShiftMed, a McLean, Virginia-based management platform for healthcare workers, raised $45 million this week. The round was led by industry investors, Panoramic Ventures and Healthworx, the innovation arm of CareFirst. Additional participants included Blue Heron Capital, Motley Fool Ventures and 3TS Capital Partners.

The funding from the raise will be used to continue developing ShiftMed’s products as well as expanding its footprint nationally. In the third quarter of 2021, over 200,000 patients used ShiftMed and its hired over 10,000 nurses since its inception.

“Now more than ever, credentialed caregivers are needed to support our hospital, post-acute, and in-home business segments. ShiftMed’s software platform allows our customers real-time access to the workers they need,” said Todd Walrath, ShiftMed CEO, in a statement. “We are excited to accelerate our mission of building a global community of engaged health care professionals.”

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Fairfax, Virgnia-based software developer 3Pillar has landed a strategic growth investment from an affiliate of H.I.G. Capital, the company announced this week.

With the investment, 3Pillar said it will continue the company’s growth, including adding members to the team. It is currently hiring data analysts, UX designers, engineers and salespeople for its Fairfax headquarters, but the company is fully remote with a “work from anywhere” policy.

“These past 18 months created an opportunity for accelerated growth in the digital transformation market, and 3Pillar rose to meet that need,” Margaret Irons, 3Pillar VP of marketing and communications, told Technical.ly. “This new partnership with H.I.G. Capital will allow us to maintain our current strategic growth, mature our development systems, and help hire and develop the top talent in the industry. This investment will strengthen our momentum going into 2022, and we are excited for what our future holds.”

Earlier this year, the company acquired Europe-based developer Software Development Europe.

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DC financial edtech firm MPower Financing, which caters to international and DACA students, is doubling its student lending limit.

MPower announced this week that it would be raising its…

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Minim moves to Nasdaq

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Jul. 9—Minim, a Manchester-based WiFi technology company, is now trading on the Nasdaq Capital Market.

The company founded by Dyn’s founder and CEO Jeremy Hitchcock has also promoted Nicole Zheng as president and chief marketing officer after leading the company’s marketing operations. She will continue to report to CEO Gray Chynoweth.

The company officially started trading on the Nasdaq under the same symbol “MINM” on Wednesday. The company previously traded over the counter.

The switch to Nasdaq represents “another important milestone” for the company, Chynoweth said in a statement.

In December, Minim, an internet security platform, merged with Boston-based Zoom Telephonics, which makes cable modems and other internet access products under the Motorola brand.

Minim was founded in 2017. The idea came about after a botnet attack that impacted Dyn’s internet in 2016. Dyn was sold to Oracle in late 2016 for a reported $600 million.

According to a news release, Zheng was a member of the founding team of the original Minim, prior to the merger. She has served as the combined company’s CMO since the merger.

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Barracuda Networks to acquire SKOUT Cybersecurity. SentinelOne IPO updates. Executive moves at IBM.

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Marketplace

Deloitte Australia launches AI Institute in Melbourne (ARN) Deloitte has launched an artificial intelligence (AI) institute in Melbourne as part of a larger global initiative dating back to last year.

Report: Growing San Diego Cybersecurity Cluster Using AI to Fight Hacking Threats (Times of San Diego) San Diego’s cyber cluster accounts for 24,349 local jobs across 874 firms, has an annual economic impact of $3.5 billion, and is growing rapidly thanks to defense-related projects.

How to get a lucrative job in cybersecurity (BBC News) There’s a serious shortage of IT security workers, so recruiters are fishing in a bigger pool.

WSJ News Exclusive | Facebook, Twitter, Google Threaten to Quit Hong Kong Over Proposed Data Laws (WSJ) A letter sent by an industry group that includes Facebook, Twitter and Google said the companies are concerned that planned rules to address doxing could put their staff at risk of criminal investigation or prosecution.

Darktrace has extreme growth potential, says Berenberg (Proactiveinvestors UK) The broker said a rampant increase in cybercrime so far this year meant the outlook for the company is “only improving”

Israel cybersecurity firms raise record $3.4b, 41% of global sector investment (The Times of Israel) The half-year figure exceeds the record-breaking $2.9 billion in investments for all of 2020; seven out of Israel’s 13 cybersecurity unicorns were created in first half of 2021

ESET joins ranks as a CVE Numbering Authority (Intelligent CIO Middle East) Working in concert with Common Vulnerabilities and Exposures (CVE) Programme, ESET, a Europe-based endpoint protection platform vendor, has announced it is authorised by the CVE Program as a CVE Numbering Authority (CNA). Organisations designated as CNAs are responsible for the assignment of CVE IDs to vulnerabilities and for creating and publishing information about the vulnerability […]

Despite CrowdStrike, 3 Reasons To Buy SentinelOne After Record Cybersecurity IPO (Forbes) SentinelOne just had the most successful cybersecurity IPO ever. Can it beat triple digit top-line growth expectations in its first quarterly report?

Cybersecurity M&A Roundup: 37 Deals Announced in June 2021 |…

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Ransomware Moves from ‘Economic Nuisance’ to National Security Threat | Voice of America

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WASHINGTON – The recent cyberattack on Colonial Pipeline, the operator of the largest petroleum pipeline in the U.S., shows how internet criminals are increasingly targeting companies and organizations for ransom in what officials and experts term a growing national security threat.

These hackers penetrate victims’ computer systems with a form of malware that encrypts the files, then they demand payments to release the data. In 2013, a ransomware attack typically targeted a person’s desktop or laptop, with users paying $100 to $150 in ransom to regain access to their files, according to Michael Daniel, president and CEO of Cyber Threat Alliance.

“It was a fairly minimal affair,” said Daniel, who served as cybersecurity coordinator on the National Security Council under U.S. President Barack Obama, at the RSA Cybersecurity Conference this week.

In recent years, ransomware has become a big criminal enterprise. Last year, victim organizations in North America and Europe paid an average of more than $312,000 in ransom, up from $115,000 in 2019, according to a recent report by the cybersecurity firm Palo Alto Networks. The highest ransom paid doubled to $10 million last year while the highest ransom demand grew to $30 million, according to Palo Alto Networks.

“Those are some very significant amounts of money,” Daniel said. “And it’s not just individuals being targeted but things like school systems.”

Last year, some of the largest school districts in the U.S., including Clark County Public Schools in Nevada, Fairfax County Public Schools in Virginia and Baltimore County Public Schools in Maryland, suffered ransomware attacks.

The attacks have continued to surge this year, as cybercriminals who once specialized in other types of online fraud have gotten into the lucrative criminal activity. According to a May 12 report by Check Point Research, ransomware attacks increased by 102% this year compared with the beginning of 2020, with health care and utilities the most common target sectors.

Last week, the southern U.S. city of Tulsa, Oklahoma, fell victim to a ransomware attack that rendered the city’s websites inaccessible after officials refused to pay a…

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