Omnilytics Announces Its Intent to Acquire Supahands

Omnilytics has announced its intent to acquire data labeling platform Supahands for $20 million. Following this acquisition, Omnilytics will focus on its strategic acquisition drive that will improve its core functions and technological capabilities.

With the rapid evolution of the e-commerce landscape in the recent times, Omnilytics as a fashion analytics and insights software has grown to keep up with the shifting consumer demands. The acquisition of Supahands will enable Omnilytics to fill a critical gap in its existing tech capabilities.

Supahands was founded in 2014. It is a highly-regarded data labeling platform that develops training data to enable clients to launch and scale high-performing artificial intelligence applications for their business

"Accelerating the adoption of AI is at the heart of our business at Supahands, having witnessed firsthand the tangible benefits that artificial intelligence and machine learning can bring to our clients as they strengthen the different pillars of their business from analytics to deployment. We are proud to be joining forces with Omnilytics who share our same vision of revolutionizing the retail tech ecosystem with unparalleled service and innovation while still serving our existing and new clients in other industries," said Mark Koh, CEO and Co-Founder of Supahands.

After completion of the acquisition-related transaction, Koh will join the Omnilytics Board, and join as the company's CSO.

 

CIBC Innovation Banking to Provide Karbon with Credit Facility to Support its Growth Plans

CIBC Innovation Banking, in a recent press meet, has announced that it has provided a $5 million credit facility to Nevada-based Karbon Inc. ("Karbon"), which predominantly offers industry-leading practice management software for various accounting firms. The company plans to use this facility to support its hiring plans and to further improve and invest in its diverse product set.

Founded in 2014, Karbon's cloud-based solution enables accounting practices to manage internal workflows and communications more efficiently. It currently has employees across the USA with extensive experience in the accounting and software development industries and offices in New Zealand, the UK, and Sydney, Australia.

Desktop legacy solutions have historically dominated the workflow software market, and the immediate shift to 'work from home' provided an opportunity for Karbon, which saw its active users double in 2020. Accounting practices with cloud-based workflow versus legacy desktop solutions immediately realized the value of having the flexibility to work from anywhere efficiently. With the support of the CIBC Innovation Banking team, Karbon will continue building its product set and become the premium cloud-based workflow solution for accountants.

 

 

The software supply chain security provider, Dustico, has been acquired by Checkmarx, the global leader in developer-centric application security testing (AST) solutions. Through this acquisition, Checkmarx will combine its AST capabilities with Dustico’s behavioral analysis technology to give customers a unified view into the risk, reputation, and behavior of open source packages, resulting in a more comprehensive approach to preventing supply chain attacks.

“We’re thrilled to welcome Dustico and its team to Checkmarx as the Israeli tech ecosystem continues to push the boundaries of cybersecurity innovation and talent,” said Emmanuel Benzaquen, CEO, Checkmarx. “Blending Dustico’s differentiated approach to open source analysis with Checkmarx’s best-of-breed security testing capabilities will bring disruptive value to our customers as they manage the challenges with securing software supply chains.”

The financial terms of the acquisition were not made public. But with Dustico, Checkmarx will be building on its mission to secure open source by enabling customers to perform vulnerability, behavioral, and reputational analysis from a single solution.

“This is a very exciting time for Dustico and our community,” said Tzachi Zornstain, Co-Founder and CEO, Dustico. “We founded Dustico to help organizations cope with the explosion in supply chain and dependency attacks and fortify their trust in open source software, and we’re thrilled to join Checkmarx to further execute on this vision and bring our capabilities to a global set of customers.”