Fintech PR
ContraForce Secures $3.25M Seed Round Led by GALLOS Technologies and DataTribe
Investment enables ContraForce’s mission to transform how managed security services are delivered.
MCKINNEY, Texas, Oct. 31, 2024 /PRNewswire/ — ContraForce, the security service delivery platform company, today announced the closing of a $3.25 million seed funding round, co-led by GALLOS Ventures and DataTribe. The funding round enables ContraForce’s mission to automate security operations and expand the security services opportunity for managed service providers.
Founded in McKinney, Texas in 2021, ContraForce has developed a groundbreaking security service delivery platform that allows service providers to grow their monthly recurring revenue, improve their margins and deliver better client outcomes. The company saw annual recurring revenue grow 400 percent over the past 12 months and has established a growing customer base and distribution partners around the world.
The ContraForce platform employs proprietary AI and automation that streamlines the time and security expertise service providers require to manage security incident and event management and endpoint detection and response tools including Microsoft Sentinel, Microsoft Defender, Splunk Enterprise Security, IBM QRadar SIEM, Crowdstrike Falcon XDR and SentinelOne Singularity XDR. ContraForce was recognized by Microsoft Intelligent Security Association as their 2024 Security ISV of the year. ContraForce was also recently honored as an SC Awards winner for Most Promising Early-Stage Startup and selected as a SINET16 Innovator. Using the ContraForce platform, service providers can onboard clients within a few minutes and easily manage all their clients and security tools simultaneously in a single dashboard.
A recent McKinsey and Company report highlighted the massive opportunity in cybersecurity managed services, with a total available market of $400-500 billion and current solutions only penetrating 5-10% of the market. The main obstacle to deeper penetration is the shortage of qualified cybersecurity personnel, underscoring the urgent need for automated solutions like those offered by ContraForce. ContraForce enables service providers to add a new line of business by allowing them to immediately launch managed detection and response and managed security operation center (SOC) services.
The oversubscribed investment round, which included participation from angels and strategic partners, brings a total of $5.25 million in investment to ContraForce, which will use the capital to accelerate the release of new product features and invest in sales and marketing in preparation for a future Series A round.
William Kilmer, General Partner at GALLOS Ventures, stated, “GALLOS specializes in investing in and building great security companies. We’re continuously seeking solutions that address real security challenges, particularly in security operations. ContraForce tackles one of the biggest problems in today’s market by automating the majority of incident investigation and remediation workflows while keeping critical decisions in the hands of security analyst teams.”
Kilmer added, “As a former CEO of a managed security services provider (MSSP), I see tremendous potential for ContraForce to scale the managed security services market in a highly efficient manner.”
Stan Golubchik, Chief Executive Officer and Co-founder of ContraForce, commented, “ContraForce’s goal is to help service providers automate and simplify the delivery of scalable security services. This investment from GALLOS not only provides us with the capital to achieve that, but also brings in a partner who understands how to build and grow security businesses on a global scale.”
ContraForce was originally founded with an investment from DataTribe, the Maryland-based cybersecurity foundry that has invested in successful cybersecurity startups, including Dragos, Blackcloak, and Strider Technologies. Maurice Boissiere, Partner at DataTribe, added, “We think ContraForce is helping to protect the vulnerable small and mid-sized enterprise sector and are pleased with the progress they are seeing with managed service providers and MSSPs toward this. I’m looking forward to working with WIll Kilmer given his venture and operations experience in this space.”
As part of the investment round, William Kilmer, GALLOS General Partner, has joined ContraForce’s board of directors.
About ContraForce:
ContraForce transforms how managed security services are delivered by allowing service providers to jumpstart a new line of business, improve their margins and deliver better client outcomes. The ContraForce Security Service Delivery Platform decouples security services from the underlying software used to provide them and employs proprietary AI and automation to improve service delivery efficiency. As a result, service providers around the world rely on the ContraForce Spark workbench to deploy or improve their own managed security service offerings or participate in the ContraForce Storm commercial program to have qualified providers deliver security services on their behalf. ContraForce is a member of the Microsoft Intelligent Security Association and is the 2024 Microsoft Security ISV of the year.
About GALLOS:
GALLOS Technologies is a venture studio and investor that builds and invests in cutting-edge security technology companies. Leveraging decades of nation-state-level security, intelligence, and defense experience, GALLOS brings a unique perspective on the technologies that companies and governments should deploy to mitigate global threats. GALLOS combines this insight with expertise in building and scaling successful ventures to create optimal outcomes for portfolio companies and investors.
About DataTribe:
DataTribe is a cybersecurity foundry that leverages deep experience and expertise to build and launch successful product companies. With a team comprising Silicon Valley and Intelligence Community founders, investors, and experienced entrepreneurs, DataTribe provides the knowledge and resources necessary to build thriving startups in the cybersecurity space.
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TAIPEI, Dec. 26, 2024 /PRNewswire/ — VIVOTEK (3454-TW), the global leading security solution provider, has once again demonstrated its outstanding commitment to sustainability. Participating for the first time in the 17th Taiwan Corporate Sustainability Awards (TCSA), VIVOTEK emerged victorious, earning the Sustainability Report Award for the Information, Communication, and Broadcasting Industry and the Taiwan Corporate Sustainability Excellence Award. These recognitions showcase VIVOTEK’s remarkable success in corporate governance, environmental protection, and social responsibility, affirming its dedication to sustainable growth.
Pioneering Sustainability with Dual Recognition
“For over seven years, VIVOTEK has independently published sustainability reports, actively driving and disclosing our internal sustainability initiatives.” said Allen Hsieh, VIVOTEK’s Spokesperson and Director of the Global Marketing Division. “These awards not only recognize our integrity and efforts in presenting operational performance, environmental data, and social impact but also serve as a strong motivation for us to continue advancing on the path of sustainable development.”
Driving Sustainability through AI Innovation
VIVOTEK delivers advanced AI-powered security solutions built on cutting-edge AI and edge computing technologies. Beyond innovation, the company drives green initiatives, reduces its carbon footprint, and fosters a sustainable, supportive workplace.
Committed to social responsibility, VIVOTEK leads the security industry’s sustainability efforts through its ‘Safety Map’ initiative. For four years, employees have formed security teams to enhance safety in neighborhoods, care centers, and schools with on-site assessments and improvement plans.
In 2024, VIVOTEK will expand its efforts to Hualien’s Dacheng Village, where it will help improve local safety environments and support cultural preservation and tourism revitalization. These actions reflect its dedication to sustainability, community well-being, and lasting societal contributions.
Security Sustainability as a Foundation for Social Impact
VIVOTEK proudly received two prestigious honors at the Taiwan Corporate Sustainability Awards, highlighting its dedication to sustainable practices. These accolades inspire the company to deepen its internal efforts and mark the start of an exciting new chapter.
Building on this achievement, VIVOTEK aims to strengthen its mission of becoming the world’s most trusted smart security brand. By aligning with global market needs and fostering collaboration with customers, partners, and employees, VIVOTEK is committed to shaping a sustainable future founded on mutual trust and shared success.
To learn more about VIVOTEK’s sustainability initiatives, please refer to the 2023 Sustainability Report.
View original content:https://www.prnewswire.co.uk/news-releases/vivotek-wins-double-honors-for-its-commitment-to-sustainability-302339223.html
Fintech PR
2024 Global Youth Design Contest on Chinese Characters Themed “Guiyang in Characters” Successfully Concluded
GUIYANG, China, Dec. 26, 2024 /PRNewswire/ — To fully implement the spirit of “carrying forward China’s cultural heritage” and “promoting the creative transformation and innovative development of fine traditional Chinese culture”, the 2024 Global Youth Design Contest on Chinese Characters Themed “Guiyang in Characters”, organized by the Publicity Department of the CPC Guiyang Municipal Committee and hosted by www.huanqiu.com, has successfully concluded on Dec.16. The contest drew thousands of teenagers from both China and abroad, who used cultural empowerment and innovative designs of Chinese characters to narrate and promote Guiyang.
At the “Colorful Guizhou • Literary Plateau” Farming and Reading Event, 59 outstanding works from 26 countries, along with 21 representative pieces from various countries and regions, were showcased. According to the organizing committee of the Global Youth Design Contest on Chinese Characters, “This exhibition serves as both a lasting commemoration of the event and a report to all those who care about the inheritance and promotion of Guiyang and Chinese culture.”
In their submissions, the teenagers selected Chinese characters or phrases they believed best represented Guiyang and reimagined them through innovative designs. Outstanding designs incorporated Guiyang’s iconic architecture and cultural landmarks into Chinese characters to present the city’s urban landscape and historical culture. Some works spotlighted Guiyang’s distinctive cuisine, offering a glimpse into the vibrant and diverse local culinary culture. Some other designs drew inspiration from martial arts villages in Guizhou and featured dragon motifs to symbolize the depth and vitality of Guizhou culture.
Saison from Tajikistan was among the participants in this year’s Global Youth Design Contest on Chinese Characters. Speaking about his design of the Chinese characters, he shared that his design sought to merge the beauty of Chinese characters with the charm of Guiyang. “Guiyang is a captivating place, known for its beautiful scenery, delicious food, and diverse ethnic minorities. I tried to incorporate the beauty of Guiyang into my Chinese character design, hoping to convey the city’s charm and the wonders of Chinese characters through my work.”
The contest officially opened for submissions on September 30. In an effort to boost public engagement and participation, a “cheerleading campaign” was organized for shortlisted works from November 22 to 29. Following expert reviews, 80 outstanding works were ultimately selected for public exhibition.
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View original content:https://www.prnewswire.co.uk/news-releases/2024-global-youth-design-contest-on-chinese-characters-themed-guiyang-in-characters-successfully-concluded-302339323.html
Fintech PR
Markets Show Resilience Ahead of End-of-Year Options Expirations: Bybit x Block Scholes Crypto Derivatives Report
DUBAI, UAE, Dec. 26, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released the latest Crypto Derivatives Analytics Report in collaboration with Block Scholes, highlighting the muted market volatility despite major options expirations on Friday. BTC and ETH’s realized volatility has increased, but short-term options haven’t adjusted to this change. This indicates that while spot prices are fluctuating, the options market is not fully reacting to these shifts, although BTC and ETH volumes have displayed slightly different patterns.
With more than $525 million in BTC and ETH options contracts expiring on Dec 27, 2024’s end-of-year options expiration looks set to be one of the biggest yet, yet expectations for volatility have remained subdued. The report highlights an unusual inversion in ETH’s volatility structure, but BTC has not mirrored the reaction. Additionally, a change in funding rates—sometimes turning negative as spot prices drop—signals a new market phase. Notably, BTC’s volatility structure has been less responsive to changes in spot prices, whereas ETH’s short-term options are exhibiting more noticeable fluctuations.
Key Findings:
BTC Options Expirations:
In the past month, BTC’s realized volatility has been higher than implied volatility on three occasions, each time reaching a relatively calm equilibrium. Open interest in BTC options remains high, contributing to potential increased volatility as we near the end of the year. Around $360 million worth of BTC options (both puts and calls) are set to expire soon, which can affect price movement.
ETH Options: Calls Dominate
Despite a mid-week inversion, ETH’s volatility term structure has flattened, maintaining levels similar to those seen over the past month. In the final week of 2024, calls overwhelmed puts in open interest in ETH options, although market movements and trading activities are more on the put side.
Access the Full Report:
Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: Bybit X Block Scholes Crypto Derivatives Analytics Report (Dec 24, 2024)
#Bybit / #BybitResearch
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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View original content:https://www.prnewswire.co.uk/news-releases/markets-show-resilience-ahead-of-end-of-year-options-expirations-bybit-x-block-scholes-crypto-derivatives-report-302339299.html
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