Company
M12 is Microsoft's corporate venture capital arm, investing in enterprise software, AI, security, and other technology startups.
Reach Security raised more than $50 million in a Series B led by Top Tier Capital Partners, with In-Q-Tel and Microsoft's M12 in the round. One round with no disclosed valuation is thin evidence of category-wide appetite for AI-driven defence.
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Sequoia led a $60 million Series B in Mecka AI, joined by Nvidia, Qualcomm and Microsoft's M12. TechCrunch's reported $500 million valuation is at most five times the $100 million-plus run-rate Crypto Briefing cites, a low price for data sold as scarce.
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Stuut raised a $52.5 million Series B led by Insight Partners to sell AI that runs the entire order-to-cash process, citing a 47% average cut in DSO. ZoomInfo, the only customer with before-and-after figures in the launch coverage, saw less than half that, a check any buyer can run against its own books.
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Nous Research raised $90 million at a $1.5 billion valuation to sell its open-source Hermes agent to corporate IT departments. The money pays for single sign-on and audit controls, so the price depends on companies paying for features around code anyone may copy.
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Vista Equity Partners led a Series B whose size Arcee did not disclose, valuing a company whose Trinity models cost about $20 million to train and whose product is a set of weights customers download and run themselves.
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Neurophos has made Kymeta founder Nathan Kundtz its chief technology officer, opened a Sunnyvale office and scheduled a low-rate Austin production line for later this year, with the chip due in 2028 and no benchmarks published.
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HiddenLayer's revenue grew more than tenfold last year selling security for models, while the new money funds a coding-agent module announced on the same day, which makes this a round priced on next year's budget line.
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Gartner has AI-security spending up 83% year over year, which turns HiddenLayer's Series B into a bet on budgets rather than on counted attacks, and leaves buyers grading runtime tools with almost no renewal data.
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Peggy Johnson says the SPAC still closes this fall. The order book is $300M of potential contract value, not revenue, and the trust money depends on redemptions.
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Reuters puts the enterprise value about 57% below At-Bay's 2021 financing mark. Munich Re's own annual report still calls the relationship an investment.
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HiddenLayer says it will contribute to Prometheus, the Idaho-led federal effort to put AI into reactor work. The Phase II selection belongs to the consortium, and still depends on appropriations.
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