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Lacework Closes a $525 Million Growth Round to Scale Up Infrastructure Security for the Cloud Generation

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Lacework, the security platform for the cloud generation, today announced a $525 million growth round with a valuation of over $1 billion. Led by Sutter Hill Ventures and Altimeter Capital, and joined by D1 Capital Partners, Coatue, Dragoneer Investment Group, Liberty Global Ventures, Snowflake Ventures and Tiger Global Management, the round reflects Laceworks accelerated adoption among digital businesses building on Amazon Web Services (AWS), Microsoft Azure, Google Cloud, and Kubernetes.

Lacework is trusted by cloud-based businesses such as Brightcove, LendingTree, Veeva Systems, and Pure Storage. The investment round will be used to accelerate the strategies that drove Laceworks 300%+ revenue growth in 2020, expand its go-to-market and partner ecosystem operations, and grow its engineering and R&D teams across the US and Europe.

Constant Changes in the Cloud Require a Fundamental Shift In Security with Data Processing at Scale

Applications built on cloud infrastructure services are complex and change constantly, which makes securing cloud workloads and services at scale impossible when relying on manual tasks and disparate tooling. With the worldwide adoption of public cloud infrastructure as a service forecasted to grow from $51 Billion in 2020 to $82 Billion in 2022, comes a heightened demand for cloud security and compliance. Gartner, Inc. also anticipates that 99% of all cloud security failures will be the customers fault through at least 2023, with 50% of companies unintentionally exposing components of their own cloud applications and infrastructure to the internet in 2021, up from 25% in 2018.

Lacework was built to see and understand cloud changes at scale without requiring manual interventions by security teams every time a new cloud service or technology is adopted. It gives customers the visibility, context, and telemetry needed to quickly assess cloud security postures, prove compliance, secure cloud workloads, and investigate anomalous activity or answer an auditors question all in one place.

Lacework is built on Snowflake, and its Polygraph„¢ security architecture understands and detects threats in cloud applications and infrastructure by applying automation and machine learning to tackle the massive scale of security data processing required to record and analyze constant changes in the cloud. As a result, Lacework customers are able to reduce false positives by up to 98% and investigation time by over 90%. With functionality that reaches across the Cloud Security Posture and Cloud Protection Platform markets, 80% of new Lacework customers replaced two or more point products in 2020.

The next phase of Laceworks growth will focus on extending its market-leading SaaS security platform and expanding into new adjacent spaces, all with a focus on enabling customers to innovate in the cloud with speed and safety. Furthermore, the investment will enable Lacework to deliver additional integrations across the devops toolchain and into security data lake initiatives for Snowflake customers.

Quotes

  • Dan Hubbard, CEO, Lacework: Building on cloud is the biggest shift the IT industry has ever witnessed. Constant cloud changes require a new approach to security critical for our customers adapting and scaling as fast as clouds innovate. This round will allow us to extend our product differentiation leadership, which is critical in a transformative market driven by both fast-moving builders and sophisticated attackers.
  • Christian Kleinerman, SVP Products, Snowflake: The best way to understand the security of any business is to have data for all activity and process it with the lowest latency, regardless of scale. Laceworks automation of manual processes and ability to map and analyze cloud changes with their Polygraph demonstrates the power of modern data processing on Snowflake.
  • Mike Speiser, Managing Director, Sutter Hill Ventures: We invest in companies that leverage and drive fundamental technological shifts in massive markets. Lacework is a better approach to security built on Snowflake’s powerful data platform to deliver radically better security to our enterprise customers. And, like Snowflake at a similar point in its evolution, Lacework is growing revenue at over 300% per year, making Lacework one of Sutter Hill Ventures’ most important and promising portfolio companies.”
  • David Christensen, Director of Global Information Security Engineering and Operations, WEX: Lacework enabled Wex to accelerate our AWS migration with a proactive view of activity while keeping our configuration house in order without the cost and toil of trying to do the same thing with a SIEM. We are also supporting container projects without having to manage and scale additional infrastructure, enabling more resources for collaboration and product development.
  • Terence Runge, CISO, Reltio: “Our business infrastructure runs on thousands of servers constantly scaling up and down. Lacework has enabled our security team to shift from building and managing security infrastructure to security practitioners who collaborate on near real-time data that enables our teams to focus on what matters.
  • Brad Woodward, Principal Security Architect, Observian: Lacework is the first tool I have encountered that can drop in, zero in on anomalous behavior, and support a blue team’s defense vs. red team attempts to execute a breach and extend access. I rely on it for my production environments, and I highly recommend it to others who are serious about security.”
  • Raj Ramanujam, VP of Alliances and Channels, New Relic: Integrating New Relic with Lacework means you can harness the power of observability plus behaviors for deep insights into your cloud security posture. This unique combination helps to reduce MTTD and MTTR.”

Additional Resources

About Lacework

Lacework delivers security and compliance for the cloud generation. The Lacework Cloud Security Platform is offered as-a-Service and delivers build-time to run-time threat detection, behavioral anomaly detection, and cloud compliance across AWS, GCP, Azure, and Kubernetes services, workloads, and containers. Trusted by enterprise customers worldwide, Lacework significantly drives down costs and risk, and removes the burden of unnecessary toil, rule writing, and inaccurate alerts. Lacework was founded in 2015 and is backed by Altimeter Capital, AME Cloud Ventures, D1 Capital Partners, Coatue, Dragoneer Investment Group, Liberty Global Ventures, Spike Ventures, Sutter Hill Ventures, Snowflake Ventures, Tiger Global Management, and the Webb Investment Network (WIN). It is based in San Jose, California. Get started at www.lacework.com.

Jennifer Lankford

Lankford Communications

[email protected]

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ACE Academy is Set to Elevate Advisor Expectations and take the Virtual Learning Environment by Storm

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DENVER, Feb. 23, 2021 /PRNewswire/ — Like 2020, 2021 continues to shepherd a big transformation of the work environment with a rapid evolution of virtual environments. This transformation brings remote learning to center stage, as financial professionals continue to hone their skills and expand their expertise from their home offices.

“ACE Academy offers Ivy league executive education in the form of a conference,” said Devin Ekberg, CIMA, CPWA, CFA

As many things in life have shifted to online experiences, expectations have been elevated.  The online work environment has altered attention spans and created a thirst for programming that drive results. The Investments & Wealth Institute's upcoming ACE Academy is designed to do just that. Styled after the executive education “master class” programs familiar to Institute membership, ACE Academy creates professional development opportunities with a blend of Ivy League curriculum, practical solutions, and entertainment.  

On April 26 – 27, 2021, ACE Academy will bring together highly accomplished and highly sought-after all-stars such as Nobel Laureates Robert Merton, PhD from MIT and Sir Angus Deaton from Princeton University. The program also features global economist Dambisa Moyo and Raghuram Rajan, PhD, Professor of Finance at the University of Chicago and 23rd Governor of the Reserve Bank of India.  New York Times bestseller and author of Atomic Habits, James Clear joins the lineup; and other leaders in the field, including twelve PhDs, nine tenured professors, four economists, two psychologists, and two JDs. ACE Academy attendees will leave the two-day virtual conference with actionable intelligence to move their careers and businesses forward, amid a pandemic.

“We are excited to bring together legends from universities such as Harvard, Yale, Princeton, Stanford, Wharton, MIT and Chicago and foster meaningful dialogue and insights,” said Sean R. Walters, CAE®, chief executive officer. “ACE Academy allows practitioners hear first-hand from leading experts how to provide value in the face of disruption and change.”

“The Institute's conferences are designed to grant exclusive access to the most prominent and influential people in the financial industry. Between this agenda, the experience, and networking opportunities, ACE Academy offers Ivy league executive education in the form of a conference.” added Devin Ekberg, CIMA®, CPWA®, CFA®, Chief Learning Officer and Managing Director of Content Development. “After an inventive year for virtual events, it's one of the best programs I've seen anywhere in the industry.”  

ACE Academy will offer more than 25 different sessions and a minimum of 25 Institute continuing education (CE) credit hours. Register today to get compelling insights and strategies to help you navigate the changing and highly competitive environment.

Learn more by visiting content.investmentsandwealth.org/2021ace

To learn more about the Institute visit http://www.investmentsandwealth.org/

 

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SOURCE Investments & Wealth Institute

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OneWest Bank Opens New Branch in Watts Neighborhood of Los Angeles

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PASADENA, Calif., Feb. 23, 2021 /PRNewswire/ — OneWest Bank, CIT's Southern California retail bank division today announced the grand opening of its branch in the Watts neighborhood of Los Angeles. The branch offers a full array of deposit and lending solutions for consumers and small businesses, as well as a connected CIT mortgage lending office dedicated to supporting the community.

The opening of the branch follows CIT's recent $47 million investment in the Jordan Downs Apartment Project to develop a 92-unit multifamily apartment complex in the Watts neighborhood that supports low-to-moderate income families.

“CIT is proud to further our commitment to enhance, revitalize and grow our communities with the opening of this full-service retail bank branch and mortgage loan office in Southern California,” said Heather Ellison, senior vice president of retail banking at CIT. “We look forward to building strong relationships and empowering financial success in the Watts neighborhood through our products, services and education programs that serve a broad range of financial needs.”

Several branch features help streamline the banking experience, including an ATM vestibule with secure, 24/7 access for cardholders, a charging bar where customers can power their devices, and digital displays that reduce paper usage and keep customers informed. There is also a unique community space in the branch for future gatherings and events.

The branch follows OneWest Bank's COVID-19 guidelines that have been implemented in all branches to ensure the safety and well-being of staff and customers. The safety guidelines include advanced cleaning procedures, required face coverings, limited traffic in branch lobbies and social distancing measures.

Leading the new branch as branch manager will be Wens Sanchez who joins OneWest Bank with 14 years of retail banking experience and a strong career background that includes leadership roles at top banks. Sanchez has a solid track record of launching branches in new locations and is experienced in implementing new technology and building financial literacy programs.

“Wens joins OneWest Bank with an impressive background and a passion for serving diverse and underserved families and individuals in Greater Los Angeles,” said Ellison. “His strong sense of community paired with his leadership skills and entrepreneurial spirit will be vital to not only delivering banking solutions and exceptional customer service, but to establishing OneWest Bank as a key part of the Watts neighborhood.”

OneWest Bank's Watts branch is in Freedom Plaza located at 9901 S. Alameda St., Los Angeles, CA 90002. The branch joins a network of over 60 OneWest Bank branches in Southern California dedicated to helping consumers and small businesses meet their financial goals by offering a variety of personal and small business banking and lending solutions.

About OneWest Bank
OneWest Bank is committed to helping Southern California consumers and small businesses meet their financial goals by offering a variety of personal and small business banking and lending solutions. We are passionate about serving the Southern California community and are proud to invest in the neighborhoods where we live and work. OneWest Bank is a division of CIT Bank, N.A. (Member FDIC, Equal Housing Lender), a subsidiary of CIT Group Inc. (NYSE: CIT). For more information, visit OneWestBank.com and follow us on Facebook.

MEDIA RELATIONS: 
Lexa Tutela
212-461-5305
[email protected]

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SOURCE OneWest Bank

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Remark Holdings Adjourns Special Shareholder Meeting Until April 6, 2021

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LAS VEGAS, Feb. 23, 2021 /PRNewswire/ — Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence (“AI”) solutions and digital media properties, today announced the adjournment of its special shareholder meeting until Tuesday, April 6, 2021 at 1:00 p.m. ET, to provide additional time to solicit votes to reach a quorum and conduct business.

Remark Holdings, Inc. (PRNewsFoto/Remark Media, Inc.)

About Remark Holdings, Inc.

Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated suite of AI solutions that enable businesses and organizations to solve problems, reduce risk and deliver positive outcomes. The company's easy-to-install AI products are being rolled out in a wide range of applications within the retail, public safety and workplace arenas. The company also owns and operates an e-commerce digital media property focused on a luxury beach lifestyle. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website at www.remarkholdings.com.

Forward-Looking Statements

This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.

Company Contacts

E. Brian Harvey
Senior Vice President of Capital Markets and Investor Relations
Remark Holdings, Inc.
[email protected]
702-701-9514

Fay Tian
Vice President of Investor Relations
[email protected]
(+1) 626-623-2000
(+86) 13702108000

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SOURCE Remark Holdings, Inc.

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

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