A content update released by CrowdStrike late Thursday caused widespread outages across Microsoft Windows systems, affecting essential services worldwide. The update, aimed at enhancing the Falcon Sensor’s threat detection, inadvertently triggered a Windows blackout, impacting numerous industries and leaving hundreds of thousands of travelers stranded.
The outage was first noticed in Australia, with Windows machines crashing and displaying the Blue Screen of Death (BSOD). The faulty update affected airports, airlines, banks, and service companies. According to FlightAware data reported by the Wall Street Journal, about 2,600 U.S. flights and more than 4,200 flights globally were canceled by Friday afternoon.
Impact Overview:
Affected Sector | Impact |
---|---|
Airports & Airlines | Flight cancellations, traveler delays |
Banking Institutions | Service disruptions |
Service Companies | Operational halt |
Microsoft Azure | Unresponsive virtual machines |
The problem extended to the Microsoft Azure cloud platform, with customers experiencing unresponsiveness and startup failures on Windows machines using the CrowdStrike Falcon agent. Azure’s health status indicated the outage impacted virtual machines across regions in America, Europe, Asia-Pacific, and the Middle East and Africa.
CrowdStrike’s recovery instructions include starting affected machines in safe mode, updating the Falcon Sensor software, and using recovery keys for systems with BitLocker or other full-disk encryption. The company emphasizes the need for accurate and accessible reporting to improve internal cyber resilience and customer trust.
Industry experts highlight the importance of cyber resilience. Merritt Baer, CISO at Reco, stressed the significance of patching cadence and the need for quick identification and resolution of issues. Trustwave CISO Kory Daniels noted that boards are increasingly focusing on cyber resilience as part of their risk management strategies.
Paul Davis, Field CISO at JFrog, commended CrowdStrike’s quick response and transparency. He emphasized the importance of having an incident plan for unexpected events and learning from the incident to improve future responses.
The global outage serves as a reminder of the critical role cyber resilience plays in maintaining customer trust and operational stability.
Kindo, a Venice Beach, California-based company, recently announced that it has secured $20.6 million in funding. The funding round was led by Drive Capital, with participation from existing investors including RRE Ventures, Marlinspike Partners, Riot Ventures, Eniac Ventures, New Era Ventures, and Sunset Ventures. Additionally, Kindo has acquired WhiteRabbitNeo, an open-source security project.
Ron Williams, CEO of Kindo, shared that the company was started to help enterprises adopt and manage AI technologies, including generative AI. The latest funding round, led by Drive Capital, brings Kindo’s total funding to $27.6 million.
Investor Name | Role |
---|---|
Drive Capital | Lead Investor |
RRE Ventures | Existing Investor |
Marlinspike Partners | Existing Investor |
Riot Ventures | Existing Investor |
Eniac Ventures | Existing Investor |
New Era Ventures | Existing Investor |
Sunset Ventures | Existing Investor |
Drive Capital’s Managing Partner, Chris Olsen, emphasized the critical need for AI security in the enterprise market and highlighted Kindo’s innovative approach. Olsen believes Kindo is poised to become an essential partner for enterprises navigating the complex landscape of AI security and governance.
Founded in October 2022 by Ron Williams, former CTO of Subspace, Kindo focuses on providing a secure platform for enterprises to integrate and manage various AI capabilities. Kindo aims to simplify the process for enterprises to control access to AI models and data sources, ensuring centralized control.
Williams described Kindo as an orchestration platform that allows enterprises to integrate any AI capabilities or models available in the market. This includes their own models, with centralized control over who can access these models and what data sources they can interact with.
Kindo’s recent acquisition of WhiteRabbitNeo aims to enhance its AI security capabilities. WhiteRabbitNeo is an open-source cybersecurity AI model, created by Migel Tiserra. Tiserra will join Kindo as an advisor. The acquisition will allow Kindo to integrate WhiteRabbitNeo’s AI-powered security features into its platform, offering enterprises advanced security tools to identify and address vulnerabilities in their AI deployments.
Tiserra expressed excitement about the acquisition, noting that Kindo is serious about solving security challenges for enterprises. He highlighted that developers and security team members will now have access to state-of-the-art open-source cybersecurity models to test and secure their infrastructure.
The new capital will be used to accelerate product development and enhance Kindo’s AI security and management capabilities. This includes advanced research and development to stay ahead of evolving AI risks. Kindo also plans to expand its sales and marketing efforts and grow its team with top-tier talent in AI security and enterprise software.
Williams mentioned that Kindo aims to provide a centralized platform for CIOs to deploy and control any AI capability across their organization securely. The platform supports various AI models, including commercial, open-source, and private models. It offers use cases such as coding assistants, chatbots, and no-code AI agents.
Centralized AI Governance and Security Controls:
Kindo is designed to address the unique challenges faced by enterprises adopting AI technologies. These challenges include securing AI models against data leakage and adversarial attacks, ensuring compliance with AI regulations, managing shadow AI tools used by employees, and integrating AI tools with existing enterprise systems.
Williams emphasized the importance of centralized control for enterprises using multiple AI models. He noted that Kindo’s platform simplifies the process for IT and security leaders, allowing them to manage AI capabilities without needing AI experts within their organizations.
Kindo’s customer base includes publicly traded companies, leading consumer mobile application developers, and open-source software organizations. The company targets enterprises that use multiple AI models and need a centralized solution to manage and secure these capabilities.
Williams believes Kindo is ahead of the competition due to its focus on being an orchestration platform rather than a platform company that aims to own all applications. He noted that Kindo’s leaders bring credibility and experience, making it easier for companies to adopt their platform.
Kindo plans to continue supporting the open-source community and expanding the reach of its platform. The company aims to provide enterprises with the tools they need to leverage AI safely and responsibly, ensuring security and compliance while enabling innovation.
With its recent funding and acquisition of WhiteRabbitNeo, Kindo is well-positioned to address the growing demand for secure AI solutions in the enterprise market. Williams and his team are committed to building a platform that meets the evolving needs of enterprises as they navigate the complex landscape of AI adoption.
In summary, Kindo’s latest funding round and strategic acquisition mark significant milestones in the company’s mission to provide secure AI solutions for enterprises. By integrating advanced security features and expanding its platform capabilities, Kindo aims to become a trusted partner for enterprises seeking to leverage AI technologies safely and effectively.
Alphabet, Google’s parent company, is reportedly in advanced negotiations to acquire Wiz, a cybersecurity startup, for $23 billion. This information comes from a person close to the company who shared details with TechCrunch. The potential deal was initially reported by The Wall Street Journal.
Wiz, founded in 2020, has experienced phenomenal growth since its inception. The company was approached a few weeks ago by Thomas Kurian, the head of Google’s cloud division, according to the source. Following this initial approach, negotiations have moved swiftly, and the two parties have tentatively agreed on the purchase price.
The source mentioned that a deal of this size faces numerous hurdles and details that need to be sorted out, although specifics were not provided. It is estimated that negotiations could take another week to 10 days, with a 50% chance that the deal might fall apart.
In May, Wiz achieved a private valuation of $12 billion after raising $1 billion in a Series E funding round. If the deal with Google goes through at $23 billion, it would more than double this valuation.
Below is a table summarizing Wiz’s financial milestones:
Financial Metric | Value |
---|---|
Last Private Valuation | $12 billion |
Series E Funding Raised | $1 billion |
Current Annual Recurring Revenue (ARR) | $500 million |
Projected ARR for Next Year | $1 billion |
Offered Purchase Price | $23 billion |
Valuation Multiple on Current ARR | 46 times |
Valuation Multiple on Projected ARR | 23 times |
Wiz’s exponential growth is a significant factor in Google’s interest. The startup has consistently outpaced its own growth targets, making it an attractive acquisition target. Despite its rapid growth, Wiz had planned to go public eventually, but not until after 2025. The company was not actively seeking a buyer when Google approached it.
The potential acquisition by Google Cloud is seen as beneficial for both parties. For Wiz, integrating with Google Cloud could provide substantial revenue synergies, potentially making it easier for Wiz to sell its products to Google’s vast customer base.
If the deal is finalized at $23 billion, Wiz would be valued at 46 times its current ARR and 23 times its projected 2025 ARR. For context, Wiz’s main competitor, Palo Alto Networks, is trading at just above 14 times its trailing 12 months revenue. Google appears willing to pay a nearly 300% premium compared to Wiz’s closest competitor.
Wiz has garnered substantial support from several high-profile investors, including:
These investors have backed Wiz through its various funding rounds, contributing to its rapid growth and significant market valuation.
While the proposed deal is promising, it’s important to note the complexities involved in closing a transaction of this magnitude. Regulatory approvals, integration challenges, and aligning strategic goals are just a few of the potential hurdles that could arise.
However, if successful, this acquisition would mark one of the largest deals in the cybersecurity sector. It would not only bolster Google Cloud’s security offerings but also position it strongly against competitors in the rapidly evolving cloud services market.
As the discussions progress, industry observers will be closely watching how this potential acquisition unfolds and its impact on the cybersecurity landscape.
Clime Capital, a Singapore-based fund manager specializing in accelerating the low carbon transition, has made a significant investment of $10 million in Nami Distributed Energy (Nami). This Vietnam-based clean energy company is known for its innovative distributed energy solutions tailored for commercial and industrial clients.
Investment to Propel Growth and Impact
The investment, facilitated through the Southeast Asia Clean Energy Fund II (SEACEF II), is set to support Nami’s accelerated growth and its positive impact on Vietnamese businesses. This strategic partnership was announced in a joint statement on Tuesday.
According to the statement, the timing of this investment is crucial, as Vietnam is undergoing a transformative period in its energy policy. The recent introduction of Decree 80/2024/ND-CP on Direct Power Purchase Agreements (DPPA) marks a significant breakthrough, creating vast opportunities for both distributed (direct line) and grid-connected renewable energy solutions.
Key Aspects of the Investment:
Impact of Decree 80/2024/ND-CP
The Decree 80/2024/ND-CP on DPPA is a game-changer for Vietnam’s energy landscape. It facilitates the growth of cost-effective renewable energy projects by enabling direct power purchase agreements. This policy shift opens the door for a more dynamic and competitive energy market, fostering the development of sustainable energy solutions.
With Clime Capital’s investment, Nami is poised to leverage its robust foundation, sector expertise, and extensive pipeline projects. This will enable the company to deliver effective rooftop solar and other on-site energy solutions on a larger scale to commercial and industrial customers across Vietnam.
Nami’s Strategic Positioning
Luu Hoang Ha, Chairman of Nami Distributed Energy, expressed his enthusiasm about the partnership with Clime Capital. “We are excited to partner with Clime Capital to bring the benefits of distributed energy to a broader range of businesses, helping them achieve their decarbonization and sustainable growth goals,” he said.
He further highlighted that Clime Capital’s investment underscores confidence in Nami’s team, practices, and corporate governance, which are central to the company’s green business mission. This substantial investment, along with Nami’s extensive and rapidly growing project pipeline, positions the company perfectly for the next funding round and expansion.
Commitment to Carbon Neutrality
Vietnam’s government has committed to achieving carbon neutrality by 2050. Nami Distributed Energy is prepared to collaborate with Clime Capital and other stakeholders to create even more positive impacts on customers and the environment. This collaboration is seen as a vital step towards helping Vietnam meet its ambitious decarbonization targets.
Nami Distributed Energy: A Pioneer in Clean Energy
Nami Distributed Energy is a subsidiary of Nami Energy, founded by Vietnamese investors with extensive experience in the Vietnam energy sector. The company offers a range of solar energy solutions and other on-site energy solutions such as battery storage and energy efficiency measures. These solutions enable businesses to access lower-cost and sustainable power without upfront or ongoing expenses.
The company is rapidly expanding its pipeline projects with large customers and deploying installations nationwide. Nami has established energy partnerships with both prominent international and local corporations across the country. Some notable partners include Sonadezi Corporation, Viet Thang Corporation, Capella Land, Regina Miracle International, Emivest, and Thipha Cable. These partnerships provide distributed rooftop solar and energy solutions to their manufacturing and business operations.
Table: Key Partnerships and Projects
Partner | Type of Solution | Industry |
---|---|---|
Sonadezi Corporation (SNZ) | Distributed Rooftop Solar | Industrial Parks |
Viet Thang Corporation (Vicotex) | Distributed Rooftop Solar | Textile Manufacturing |
Capella Land | Distributed Rooftop Solar | Real Estate |
Regina Miracle International | Distributed Rooftop Solar | Apparel Manufacturing |
Emivest | Distributed Rooftop Solar | Livestock Feed |
Thipha Cable | Distributed Rooftop Solar | Cable Manufacturing |
Bullet Points: Strategic Advantages of the Investment
Supporting Vietnam’s Energy Transition
Joshua Kramer, Chief Investment Officer at Clime Capital, emphasized the strategic importance of investing in Nami at this juncture. “Nami is well positioned to lead innovation in Vietnam’s dynamic and fast-evolving power market at a time when the country has introduced new opportunities to lead the low carbon transition in Southeast Asia,” he said.
Mason Wallick, Chief Executive Officer at Clime Capital, echoed this sentiment. He highlighted that the SEACEF II investment in Nami underscores their commitment to supporting clean energy leaders with the potential to achieve transformational impacts in their markets.
Clime Capital’s Broader Impact in Vietnam
Clime Capital, headquartered in Singapore, is registered with the Monetary Authority of Singapore and manages SEACEF I and SEACEF II. The fund maintains an on-the-ground presence in Vietnam, India, Indonesia, the Philippines, and Singapore. This regional presence enables Clime Capital to support and invest in promising clean energy initiatives effectively.
In addition to the investment in Nami, Clime Capital has made significant investments in other Vietnamese clean energy projects. These include Levanta, with three wind power developments in Vietnam’s South Central and Highland regions; EBOOST, the first-mover and market-leading open network electric vehicle (EV) charging operator; and Stride, a cleantech company providing households and small businesses with eco-friendly home improvement projects.
Conclusion
The $10 million investment by Clime Capital in Nami Distributed Energy represents a significant step forward in Vietnam’s clean energy transition. By leveraging this investment, Nami is well-positioned to expand its innovative energy solutions, supporting businesses in their decarbonization efforts and contributing to Vietnam’s 2050 carbon neutrality goal. As Vietnam continues to evolve its energy policies and market dynamics, partnerships like this will be crucial in driving the country’s low carbon transition and fostering sustainable growth.