<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        AI-based security operations centers (SOCs) provider Dropzone AI has raised USD 16.85 million in a Series A funding round led by Theory Ventures, with participation from existing investors such as Decibel Ventures, Pioneer Square Ventures, and In-Q-Tel (IQT).
      </p>
    </li>
    <li>
      <p>
        The funds will be used to enhance their AI technology further, expand their go-to-market (GTM) motion, and strengthen their engineering team.
      </p>
    </li>
    <li>
      <p>
        Dropzone AI, with its team of autonomous AI SOC analysts, aligns with human security teams to streamline investigations and deliver a faster, more accurate response to cybersecurity threats. It aims to address security operations issues by reducing manual analysis through automation, thus decreasing alert fatigue and improving response times.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.dropzone.ai/blog/dropzone-announces-series-a-funding-round">
      Company blog
    </a>
  </p>
</div>


Generative AI Applications

<div>
 
 <p>Dropzone AI, an AI-based security operations centers (SOCs) provider, has successfully raised USD 16.85 million in a Series A funding round. The leading contributor in this funding round was Theory Ventures, and existing investors like Decibel Ventures, Pioneer Square Ventures, and In-Q-Tel (IQT) also participated.</p>
 <p>The company intends to use the new influx of funds to further develop their AI technology. Other areas of focus include expanding their go-to-market (GTM) strategy and bolstering their engineering team.</p>
 <p>Dropzone AI operates with a team of autonomous AI SOC analysts who work in collaboration with human security teams. The primary objective is to streamline investigations, thereby enabling faster and more accurate responses to cybersecurity threats. Through the adoption of automation, Dropzone AI seeks to mitigate issues in security operations by reducing manual analysis. This would help to decrease alert fatigue amongst security teams and improve response times significantly.</p>
 
</div>

Dropzone AI raises USD 16.85 million in Series A funding to expand operations

<div>
 
 <p>Augment, an AI coding assistance startup, has secured USD 227 million in a Series B funding round. Sutter Hill Ventures led the round, with contributions from Index Ventures, Lightspeed Venture Partners, Innovation Endeavors, and Meritech Capital, bringing the company's valuation to around USD 977 million.</p>
 <p>The funding will be deployed for product development to enhance the company’s product, engineering, and go-to-market strategies.</p>
 <p>The firm provides a platform to increase software development productivity through AI-powered tools. Its goal is to elevate developer productivity, upgrade software quality, encourage team collaboration, while securely protecting intellectual property.</p>
 
</div>

Augment raises USD 227 million in Series B funding to accelerate product development

<div>
 
 <p>Cognition Labs, an Artificial Intelligence (AI) coding startup, has successfully garnered a funding of USD 175 million in a round led by the Founders Fund. The raised funds are intended to be channelized towards amplifying the development and improvement of the company's existing offerings.</p>

 <p>The company is renowned for its innovative AI-driven coding assistant, Devin. Unlike its competitors that merely suggest code snippets, Devin has been conceptualized and designed to oversee and manage full-fledged development projects independently.</p>
 
</div>

Cognition Labs raises USD 175 million in funding to further develop offerings

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 
 <p>Moderna, a biotechnology firm, has formed a partnership with OpenAI to integrate sophisticated AI into their operations, boosting their mRNA medicine development. </p>
 <p>The partnership employs the use of OpenAI's GenAI tools throughout Moderna's infrastructure. They had early success with the adaptation of a platform called "mChat" from ChatGPT, which aids multiple business operations including legal, research, and manufacturing.</p>
 <p>The aim of this strategy is to use AI for tackling complex problems and aiding in the inception of newer generation medicines. With this approach, they have already managed to launch more than 750 GPTs within Moderna, notably enhancing automation processes and productivity levels. </p>
 
</div>

Moderna and OpenAI partner to advance mRNA medicine with GenAI tools

<div>
 
 <p>Parloa, a German AI and automation firm specializing in customer service, has secured USD 66 million in a Series B round. The funding round was led by Altimeter Capital and included participation from EQT Ventures, Newion, Senovo, Mosaic Ventures, and La Familia Growth.</p>
 <p>The company plans to utilize this investment to amplify its growth in the European and US markets. Notably, since they opened an office in New York last year, Parloa has expressed a strong interest in the US market.</p>
 <p>Based in Berlin, Parloa is a software provider for enterprises, specializing in conversational AI technologies for contact centers. The company has crafted a platform that uses AI to improve customer service interactions across various channels, including phone and digital. The technology of the company incorporates features like speech-to-text and natural language understanding, enabling smooth communication between businesses and their customers.</p>
 
</div>

Parloa raises USD 66 million in Series B funding to expand operations

ANALYST_QUICK_TAKE

<div>
 
 <p>Microsoft has reportedly limited its employees' use of external AI applications, like Azure's Perplexity AI and Google's Gemini chatbot. </p>
 <p>Perplexity AI, an AI chatbot, works as a conversation-driven search engine, employing natural language predictive text to more closely mimic human conversation. Similarly, Google's Gemini chatbot, also an AI tool, communicates with users through a chat interface to provide necessary information and assistance. </p>

</div> <p><b>Analyst QuickTake:<br>
 </b> Microsoft has previously temporarily disabled AI tools like OpenAI's ChatGPT on employee devices, citing security and data concerns; however, later, it reported that it was a mistake. This decision stresses the company's stand on the importance of privacy and data security. It recommends employees utilize services like Bing Chat Enterprise and ChatGPT Enterprise, which claim to ensure better protection of sensitive information.</p>

Microsoft reportedly blocks employee access to Perplexity AI and other AI tools

<div>
 
 <p>GenAI-powered search engine Perplexity AI has secured USD 62.7 million in a funding round. The round was led by Daniel Gross and saw contributions from Stanley Druckenmiller, Garry Tan of Y Combinator, Dylan Field, CEO of Figma Inc., and former supporters including Jeff Bezos and NVIDIA Corp. The successful round has pushed Perplexity AI's valuation past the USD 1 billion mark.</p>
 <p>The newly acquired funds will enable Perplexity to focus on expanding its reach globally and bolstering its user base.&nbsp;</p>
 <p>The company has also introduced Enterprise Pro, a service designed specifically for business use that offers enhanced security and privacy features, for USD 40 per month. Major corporations such as Zoom and HP have already started utilizing this service.</p>
 <p>Additionally, Perplexity has entered into partnerships with telecommunications firms including Japan's SoftBank Corp. and Germany's Deutsche Telekom AG. These partnerships aim to augment Perplexity's impact by promoting its capabilities to both consumer and business customers.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> This news comes just three months after the company raised <a href="https:<br>
//sp-edge.com/updates/25210"> USD 73.6 million </a> in a Series B round to support its expansion plans. The move to launch a new plan and enter several partnerships signify Perplexity's intent to scale globally and reflect its capability to influence and possibly lead the future of AI-driven search technologies.</p>

Perplexity AI raises USD 63 million in new funding; launches Enterprise Pro

<div>

 <p>Moveworks has launched a new service called Moveworks Copilot, an AI platform for enterprise support. This service allows employees to interact with business systems using everyday language and is now available to the public. The main features provided by the Moveworks Copilot are Copilot Search, Copilot Automations, and Copilot Productivity.</p>
 <p>Copilot Search aids employees in finding specific, personalized data across numerous applications through a simple chat interface. Copilot Automations enables changes to be made in any enterprise system directly from the chat promptly. Through Copilot Productivity, employees have the capability to compose emails, summarise documents, and handle their calendars within daily collaboration platforms such as Slack and Teams.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> The company states that the new service will streamline how employees interact with business applications. It pulls critical data, activates the right workflows, automates processes, and offers relevant insights from a company's applications. This functionality aims to help employees maximize the potential of their technical stack.</p>

Moveworks launches upgraded Copilot for enhanced employee support

<div>
 
 <p>Cognizant, a global digital services provider, has collaborated with Microsoft to expand the usage of GenAI in enterprises and stimulate industry transformations.</p>
 <p>As part of the partnership, Cognizant has acquired 25,000 seats of Microsoft 365 Copilot for its associates, along with 500 seats each for Sales Copilot and Services Copilot. Additionally, Cognizant intends to deploy Microsoft 365 Copilot to a million users across 2,000 global clients in 11 industries.</p>
 
</div>

Cognizant and Microsoft partner to expand GenAI adoption in enterprises

<div>

 <p>Langdock, a German startup that offers employee productivity tools, has raised $3 million in a seed funding round. The round was led by General Catalyst and La Famiglia, with additional contributions from Y Combinator and several German founders.</p>
 <p>The company intends to use the raised capital to extend its operations and intensify its development efforts.</p>
 <p>Langdock's mission is to assist businesses by offering a platform to manage large language models (LLMs). Their services enhance employee productivity through features such as AI chat assistants and automated workflows. As of now, over 40 companies, including Merck, GetYourGuide, HeyJobs, and Forto, are leveraging Langdock's solutions.</p>

</div>

All Updates