Allot Ltd. | May 24, 2022
Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a leading global provider of innovative network intelligence and security-as-a-service (SECaaS) solutions for communication service providers and enterprises, announced today that it is partnering with Singtel to offer cybersecurity services to Singtel’s Small and Medium Sized Business (SMB) customers.
Allot NetworkSecure is a network-based solution, offering zero-touch, clientless operation, requiring no application installation by the end customer. With NetworkSecure, CSPs can offer their customers protection from cybersecurity threats, including malware, viruses, phishing and ransomware and can enable customers to block inappropriate categories of web content for their employees. An easy-to-use interface provides branded alerts and reporting that help strengthen brand loyalty. NetworkSecure provides subscribers with a unified user experience on all devices for cybersecurity and content filtering, including configuration, reporting and alarm management. NetworkSecure makes it possible for customers to benefit from cybersecurity services with no IT expertise required. NetworkSecure can easily scale to millions of subscribers, making it an ideal solution for large and growing networks.
“Our CSP customers around the world understand the cybersecurity needs of SMBs to keep their businesses running smoothly We are very pleased to have Singtel as our strategic partner.”
-Weiming Li, VP Sales APAC for Allot
Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot’s multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1000 enterprises. Our industry-leading network-based security as a service solution is already used by over 20 million subscribers Globally.
Expensify | February 08, 2022
CIBC Innovation Banking is pleased to announce it has provided a $100 million credit facility to Portland-based Expensify, a payments superapp that helps individuals and businesses around the world simplify the way they manage money. This funding, provided in October 2021, will further support the company’s rapid growth and product expansion, and represents a significant increase to an existing relationship between CIBC Innovation Banking and Expensify.
With more than 10 million members across the globe, Expensify provides free corporate cards, expense tracking, next-day reimbursement, invoicing, bill pay, and travel booking all in one app. The product also integrates with all major accounting software, as well as HR, tax, practice management, and travel platforms such as Uber and Lyft.
“Expenses are a universal pain point for businesses of every size, and Expensify’s tools are addressing and alleviating those headaches for millions of users,” said Paul McKinlay, Managing Director at CIBC Innovation Banking. “We have thoroughly enjoyed working with Expensify and are excited and proud to continue to support this company as they continue to scale and innovate through new platforms and initiatives.”
“CIBC has provided creative and flexible financing for us for several years. As we prepared to enter the public markets last year, we knew CIBC was the right banking partner for us. We’re excited to continue with this credit facility as we scale in the public markets and further extend our product platform.”
Ryan Schaffer, Chief Financial Officer and Board Member of Expensify
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, London, Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada.
Expensify is a payments superapp that helps individuals and businesses around the world simplify the way they manage money. More than 10 million people use Expensify’s free features, which include corporate cards, expense tracking, next-day reimbursement, invoicing, bill pay, and travel booking in one superapp, all free. Whether you own a small business, manage a team, or close the books for your clients, Expensify makes it easy so you have more time to focus on what really matters.
Amber Solutions | January 25, 2021
Company's advances in technology, patent portfolio, industry awards and partner discussions drive increased investor interest.
DUBLIN, CALIFORNIA , Jan 25, 2021 - (ACN Newswire) - Amber Solutions, the young Silicon Valley company that is making the digital control of electricity in solid-state architecture a commercial reality, today announced that its 2020 series B funding round raised more than $8.5 million from new and existing investors, following a successful year of secured patents, partner discussions and multiple industry award wins.
According to Amber Founder and CEO Thar Casey, the company's progress in 2020 is all the more remarkable given the challenges posed to the business by the COVID-19 pandemic and related lockdowns that prevented most, if not all, in person product demonstrations.
"2020 presented a challenging business climate, but our commitment to revolutionize the world's building electrical infrastructure helped Amber enter 2021 with increased investment, new patents, as well as multiple industry award wins and nominations," Casey said. "Amber's progress is a sign of the accelerating demand from major electrical product manufacturers for solid-state electrification technologies and its ability to completely disrupt and transform the enormous global market for electrical products and services."
In addition to securing patents related to a digital AC/DC Enabler, an AC switch, a digital method to sense ground faults, and super-efficient LED light fixtures in 2020, Amber started 2021 as a BIG Innovations 2021 Award winner, a CES 2021 Innovations Award honoree, and is currently a 2021 Edison Award nominee.
Amber's core innovation is a programmable solid-state power system that has a clear path to an even-smaller silicon chip version. Amber's system controls the flow of electricity digitally, enabling unique integration of modern intelligence into building electrical products and infrastructure. The solution introduces the world to a much safer, more reliable and dramatically smarter alternative to the 1970's era electro-mechanical components that are used in nearly all modern electrical infrastructure products.
"Amber's patents and innovations are rapidly driving demand for the development of intelligent solid-state based products including two-wire dimmer switches, ultra-efficient commercial LED light fixtures, smart light switches, smart outlets, smart circuit breakers, and more," Casey added. "Based on heightened industry interest, growing investments and ever-increasing energy efficiency goals around the globe, we believe 2021 will be the year solid-state electrification moves from validation to commercialization and mainstream productization."
About Amber Solutions
Amber Solutions is a leading developer of patented, innovative solid-state technologies for the digital control of electricity. The company's disruptive breakthroughs change the electrical landscape forever for buildings and appliances world-wide. These technologies upgrade power management from 1950's era electro-mechanical to safer, more reliable solid-state architecture with embedded intelligence. Based in Dublin, California, the company is leveraging the expertise of Silicon Valley professionals to deliver a disruptive enhancement to the value and functionality of the world's electrical endpoints and infrastructure. For more information visit www.ambersi.com.
MARKETING AND NETWORKING
Wishpond Technologies Ltd. | April 05, 2022
Wishpond Technologies Ltd., a provider of marketing-focused online business solutions, is pleased to announce that it has completed the acquisition (the "Acquisition") of certain assets and specified liabilities constituting substantially all of the business and assets of Viral Loops Limited ("Viral Loops") pursuant to an asset purchase agreement (the "APA") effective April 1, 2022. Headquartered in London, England, Viral Loops is a referral marketing software platform that helps companies acquire new customers and increase sales through the power of word-of-mouth and referral marketing.
"We are very pleased to announce our first acquisition of 2022 and the fifth acquisition since Wishpond went public in December 2020. Viral Loops has built a company with tremendous brand recognition in the industry and has demonstrated consistent, strong revenue and EBITDA growth. Besides growing Viral Loops as a stand-alone business, we believe there are tremendous cross-sell opportunities for offering referral marketing solutions to Wishpond's existing customer base of over 3,000 small to medium sized businesses. We are thrilled to welcome the Viral Loops team to the growing Wishpond family."
Ali Tajskandar, Chairman and CEO of Wishpond
Founded in 2016, Viral Loops helps businesses unlock their viral growth through powerful referral marketing solutions. It allows businesses to design, create and manage referral programs that reinforce customer loyalty, attract new customers and decrease customer acquisition costs. Viral Loops provides its customers with customizable templates for referral marketing campaigns where customers can refer their network in exchange for rewards. Viral Loops' technology tracks and manages the effectiveness and results of the referral program and enables customers to manage the distribution of the rewards and discounts arising from the campaign.
Viral Loops has strong revenue growth and over 15% EBITDA margins. Revenue in 2021 was US$800,000 generated from more than 700 diversified customers, half of whom are based in the United States. Viral Loops will continue to maintain its brand, website and client relationships, while Wishpond will provide operational support and cross selling opportunities. Wishpond expects Viral Loops product and services will enhance Wishpond's current product offerings and increase customer lifetime value.
"We are thrilled that the Viral Loops team will be joining Wishpond," said Savvas Zortikis, CEO of Viral Loops. "Wishpond has established a model for servicing the online marketing needs of small and mid-sized enterprises. We believe that the Viral Loops technology will continue to flourish under Wishpond and that our customers will be well served under the Wishpond banner."
In consideration for the acquisition of Viral Loops, Wishpond anticipates the total purchase price to be approximately US$2,300,000, consisting of an upfront payment of US$1,380,000 from cash on hand and a one-year performance earn-out in the expected amount of US$920,000 (the "Earn-Out"). The Earn-Out, which is based on a percentage of revenue of the acquired Viral Loops business, will be paid quarterly and may be paid in cash, common shares of Wishpond ("Shares"), or a combination thereof, at the Company's discretion. Any Shares that are issued will be at a deemed price per Share equal to the 10 trading day volume weighted average price of the Shares on the TSX Venture Exchange (the "TSXV"), subject to certain minimum share price requirements as per the APA and as permitted and approved by the TSXV.
About Wishpond Technologies Ltd.
Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond's vision is to become the leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company offers an "all-in-one" marketing suite that provides companies with marketing, promotion, lead generation, and sales conversion capabilities on one integrated platform. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 3,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions and continues to add new features and applications with great velocity. The Company employs a Software-as-a-Service (SaaS) business model where substantially all the Company's revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker "WISH", and on the OTCQX Best Market under the ticker "WPNDF".