River SaaS Capital provides alternative venture financing to growing software-as-a-service (SaaS) businesses. They offer fast, flexible financing solutions to qualified new borrowers. The company announced today its newly launched equity fund, TruWest Fund I. This new $50 million fund will invest in US-based B2B software-as-a-service businesses and act as a continuum of capital for high potential companies in River SaaS Capital’s venture debt portfolio.
This equity fund is the next step in River SaaS Capital’s investing strategy. In 2015, they launched as a provider of alternative venture financing to early-stage SaaS companies throughout the U.S. With the success of the venture debt fund, the team then started making direct equity investments in select portfolio companies in 2019. Now, with both River SaaS Capital’s venture debt offerings and equity capabilities, they’ll be able to offer multiple capital options to their portfolio at scale.
River SaaS Capital provides alternative venture financing to growing software-as-a-service (SaaS) businesses. We offer fast, flexible financing solutions, typically providing non-dilutive, revenue-based financing to qualified new borrowers in 36-48 month term loans and growing with our portfolio companies over time (via either debt and/or equity). To learn more, visit www.riversaascapital.com.
Cordoniq, the secure, enterprise video collaboration platform, has been named a winner in multiple categories at the 2024 Cybersecurity Excellence Awards. The annual awards recognize cybersecurity vendors with ground-breaking products, solutions, and services that are helping set the bar higher for others in all areas of security and technologies.
Cordoniq was honored in the Secure Collaboration Platform, Technology, and Software categories for North America. Cordoniq stood out with its innovative video collaboration that is disrupting the marketplace, thanks to its secure-by-design approach, next-gen UX and innovative features, like Android TV Capabilities, Green Video Collaboration Technology, Privacy & Security, Share Web & Browser Content, Video Meeting Rooms and more. Cordoniq’s platform-as-a-service (PaaS) model is entirely API driven so it can interact directly with virtually anything in a company’s tech stack, and is trusted by the U.S. Department of Defense, the Pentagon, Special Operations Forces (USSOCOM), and the National Guard.
The Cybersecurity Excellence Awards honor companies that demonstrate excellence, innovation, and leadership in information security. Winners are selected by an independent panel of judges who evaluate the nominees based on their products, services, and contributions to the cybersecurity industry.
You might recall that Change Healthcare was pwned. That caused large amounts of disruption for healthcare providers. On top of that, the responsible party was apparently Black Cat/ALPHV who were in the Change Healthcare network for days before they launched the attack. But it gets worse from there. Word started to leak out that a ransom had been paid, and that payment caused some knock on effects within the group that pwned Change Healthcare. Specifically they started to fight amongst themselves to get a cut of the cash. On top of that, HHS launched an investigation into the hack. Which is not good news for Change Healthcare. With that out the way, let’s get to today’s news. Change Healthcare has actually admitted that they paid the ransom:
In a statement sent to WIRED and other news outlets on Monday evening, Change Healthcare wrote that it paid a ransom to a cybercriminal group extorting the company, a hacker gang known as AlphV or BlackCat. “A ransom was paid as part of the company’s commitment to do all it could to protect patient data from disclosure,” the statement reads. The company’s belated admission of that payment accompanied a new post on its website where it warns that the hackers may have stolen health-related data that would “cover a substantial proportion of people in America.”
Change Healthcare’s statement didn’t state the size of the ransom payment. In a hearing held by the US Senate’s Finance Committee on May 1, however, Andrew Witty, CEO of Change Healthcare parent company UnitedHealth Group, confirmed that the payment was $22 million.
Here’s the problem with this. Actually two of them:
It encourages groups like these to continue to attack organizations because they are getting paid.
With the infighting within Black Cat/ALPHV, it means that there isn’t any guarantee that whatever data they stole will get deleted.
So Change Healthcare might think that they have dealt with this by cutting a cheque, but I question if they really have. I wouldn’t be surprised if weeks or months from now it turns out that they haven’t given the current state of play.
The 2024 Q1 Shopping Index by Salesforce analyzes the activity and online shopping statistics of more than 1.5 billion unique global shoppers from more than 67 countries.
On the heels of rising inflation numbers in Canada, the index found that consumers remain cautious and are pulling back on spending. While digital commerce overall grew 2%, Salesforce data shows a decline in per-visit average spend of $2.02 (down from $2.40 in the last quarter), and a drop-in conversion rate to 1.8% (down from 2.3% last quarter).
SecureIQLab LLC, a leading provider of cloud security validation solutions, proudly unveils SocX™, a groundbreaking AI-powered cloud validation platform. SocX™ introduces adaptive learning models for cyberattacks backed by powerful analytics designed to accelerate cyberattack prediction and prevention, complementing existing cybersecurity solutions.
Streamlined Product Lifecycles: SocX™ significantly shortens pre- and post-release product lifecycles for security providers.
Enhanced Operational Efficiency: SocX™ continuously learns and validates, reducing risk exposure and enhancing overall operational efficiency.
In essence, SocX™ simplifies deployment and validation processes, minimizing resource drain. It equips security professionals with the ability to derive valuable insights from validation results in near real-time or within minutes, aiding in product enhancement and informed decision-making.
Security professionals can seamlessly connect to SocX™ via its portal, selecting and deploying specific test use cases or importing their unique methodologies for continuous validation of their offerings. Leveraging SocX™, security technology providers can innovate with confidence, while MSPs can achieve optimal operations tailored to their unique requirements.
Visit them at RSA in San Francisco on May 8, Moscone South, 2nd Floor, Terrace, to learn more about SecureIQLab, SocX™, and its transformative capabilities in the realm of cloud security validation.
EnGenius Technologies has today unveiled AVXpress, an innovative software solution designed to effortlessly enhance network traffic prioritization for business-critical video conferencing and other AV-related applications during peak times. Nowadays, video conferencing has become the most critical daily communication tool in business, where issues like lost sound or severe delays can seriously impact productivity. Unlike traditional solutions, AVXpress integrates application-aware technology that automates complex configurations with just one click, setting a new industry standard for network performance optimization in corporate, entertainment, and educational environments.
Optimize Business Communications with Intelligent Prioritization
AVXpress utilizes application-aware technology to automatically recognize and categorize different data types, ensuring that voice and video conferencing communications receive the highest priority by default. This feature dramatically improves the clarity and stability of voice calls and video conferencing applications, crucial for business operations. Additionally, Users can adjust the priority settings to boost other critical applications to high or top priority, ensuring optimal performance and flexibility.
One Click to Optimize: Simplifying Network Traffic Priority
The one-click ‘Express’ mode in AVXpress allows any user to instantly prioritize time-sensitive AV applications, such as video conferencing, streaming, or gaming, without the need for technical expertise or detailed settings adjustments on wireless APs and Switches. These services are elevated to the same priority level as voice calls by simply clicking a button, ensuring they receive the necessary bandwidth for a smooth and uninterrupted experience, even under heavy network load.
Roger Liu, EVP at EnGenius Technologies, states, “With AVXpress, it’s incredibly straightforward. Anyone can quickly prioritize their most needed AV-related applications with just one click—no technical background is required. It’s about turning what used to be complicated into something everyone can handle during those busy network times.”
From Wi-Fi to Wire: Ensuring Seamless Connection Quality
AVXpress provides a seamless and high-quality connection between Wi-Fi clients and wired network infrastructure. It improves and standardizes network performance to ensure consistent quality throughout the data transmission process. The process begins with Wi-Fi devices and passes through EnGenius Access Points, which identify client applications and prioritize traffic. It then flows smoothly through the wired segments via EnGenius Switches, maintaining the exact default priority definition. This guarantees a stable and uninterrupted network experience across the entire network, ensuring end-to-end high quality.
AVXpress is an innovative feature designed exclusively for EnGenius Access Points and will be accessible through the EnGenius FitXpress and EnGenius Cloud platforms starting in Q2. This rollout ensures that all users can effortlessly utilize AVXpress across EnGenius’ management platforms. For more detailed information or to explore its features, visit AVXpress.
Posted in Commentary with tags Aptum on May 6, 2024 by itnerd
Aptum today announced it has partnered with XCV Partners, and technology solution distributor that offers an alternative to traditional distribution by prioritizing partner needs and maximizing partner passthrough. The agreement enables XCV’s partners to offer Aptum’s portfolio of infrastructure and cloud management services to its clientele in the U.S., Canada, the UK, and around the world.
With this agreement, XCV Partners will be able to offer growing enterprises, SaaS providers, telcos, and ISPs true hybrid infrastructure solutions, including the following:
Cloud Managed Services: Providing expert guidance, deployment, and management of applications and cloud infrastructure, including hybrid. Aptum is a Microsoft Azure Expert Managed Services Provider.
Infrastructure as a Service (IaaS) and Networking: Design, source, and manage infrastructure and applications.
Application Modernization and DevOps: From key DevOps methodologies and practices, educational workshops, cloud and application assessments, to providing professional services, Aptum helps customers reimagine and build for cloud success.
You might recall that Canadian pharmacy chain London Drugs was pwned in some sort of cyberattack. It’s not clear what kind of attack it was. But it was clearly bad enough that it forced the chain to close all their stores. Which is of course a non trivial event. Over the weekend news surfaced that some stores were starting to reopen:
London Drugs is gradually reopening its stores across Western Canada, six days after it shuttered all locations due to a “cybersecurity incident,” the retail and pharmacy chain said.
It is working with its nearly 80 stores in British Columbia, Alberta, Saskatchewan and Manitoba individually to get them up and running, said the retailer, headquartered in Richmond, a suburban city about 16 kilometres south of Vancouver.
“We ask for patience as we work with each store to ensure it is operating fully to meet the needs of our customers, and therefore we will not be communicating which stores are opening and when,” London Drugs said in a Saturday statement. “No interviews will be conducted at this time.”
“We are continuing to work with our third-party cybersecurity experts to bring our systems online in a safe and secure manner,” the company said.
Opening stores six days after getting pwned is quick.
In the above statement they say that they’re working with a third party. Which I assume is a Mandiant or an organization similar to that. So it goes without saying that they are taking their advice on that. I could, and I emphasize could also mean that London Drugs had a mitigation strategy in place so that in the event of something like this, they could reopen quickly. If that’s true, then that’s very good on them. There is the possibility that this attack could have been less severe than we all assumed. Which is a good thing.
But that’s where my glass half full view ends. There is the possibility that they paid the ransom based on the fact that I am making the assumption that this is ransomware. And regardless of how quick London Drugs got back on its feet, there’s still the question regarding the data of their customers and if anything was stolen. London Drugs hasn’t said anything about that, but that has to be on the table. So while London Drugs is making positive steps to getting back to normal, it’s not all sunshine and roses.
My advice is to watch this situation carefully in the coming days and weeks. Especially if you get you prescriptions at London Drugs. Because this incident is far from over.
River SaaS Capital Announces Its Newly Launched Equity Fund
Posted in Commentary with tags River SaaS Capital on May 6, 2024 by itnerdRiver SaaS Capital provides alternative venture financing to growing software-as-a-service (SaaS) businesses. They offer fast, flexible financing solutions to qualified new borrowers. The company announced today its newly launched equity fund, TruWest Fund I. This new $50 million fund will invest in US-based B2B software-as-a-service businesses and act as a continuum of capital for high potential companies in River SaaS Capital’s venture debt portfolio.
This equity fund is the next step in River SaaS Capital’s investing strategy. In 2015, they launched as a provider of alternative venture financing to early-stage SaaS companies throughout the U.S. With the success of the venture debt fund, the team then started making direct equity investments in select portfolio companies in 2019. Now, with both River SaaS Capital’s venture debt offerings and equity capabilities, they’ll be able to offer multiple capital options to their portfolio at scale.
River SaaS Capital provides alternative venture financing to growing software-as-a-service (SaaS) businesses. We offer fast, flexible financing solutions, typically providing non-dilutive, revenue-based financing to qualified new borrowers in 36-48 month term loans and growing with our portfolio companies over time (via either debt and/or equity). To learn more, visit www.riversaascapital.com.
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