![]() ![]() BV Investment Partners acquired a majority stake in Hardenbergh Group, a Livonia, Mich.-based provider of medical service professionals and other non-clinical roles. Bain Capital Private Equity agreed to acquire Fogo de Chão, a Dallas-based restaurant brand. As always, please send deals to See you in a week! Programming note…By the time you read this, I’ll be heading off for a week-long vacation. It’s another example of the struggles that proptech-and, in general, highly-valued-startups are facing as both the interest rate and commercial real estate environments have changed. Cadre didn’t respond to my request for comment. According to The Information, Cadre, which in 2017 was valued at $800 million by investors including Andreessen Horowitz and Thrive Capital, is nearing a deal with alternative investment platform Yieldstreet to be acquired at what could be around a $100 million valuation ( Axios reports the deal is too speculative for a firm valuation yet). Real estate startup acquisition buzz…Beleaguered real estate investment firm Cadre, cofounded by Ryan Williams and Jared and Josh Kushner, is reportedly in talks to be acquired at a clearance-price valuation. For all our companies’ sakes, we can only hope that Reiser is right, and that the forces of good A.I. technology is improving at such breakneck speed that startups are essentially always behind. Reiser says Abnormal and Wiz have “talked about, ‘Hey, what’s working for you?’ We’ve tried to trade notes.” (The company later said Wiz is not a competitor.)Ībnormal and other such A.I. Abnormal is still dwarfed by buzzy cloud security startup Wiz, which focuses on protecting companies’ infrastructure in the cloud, and is valued at over $10 billion, with $200 million in sales. The startup was last valued at $4 billion in early 2022, with big VC backers including Greylock Partners, Insight Partners, and Menlo Ventures (the firm raised an undisclosed amount of funding from CrowdStrike Holdings in March of this year). Reiser says the company currently isn’t planning on raising more funding. Of course, as the CEO of a cybersecurity startup, Reiser is optimistic: “I think we’ll actually be in a better state 10 years from now than we are today.” Abnormal Security recently released CheckGPT, a tool that enables companies to determine whether a suspicious email was written using generative A.I. defenders have that same public data, plus troves of internal private data from companies themselves (like emails and workflows and customer relationships). have only publicly-available data, while A.I. Reiser notes that cyber attackers using A.I. will be superior is because it’s going to have a data advantage,” he argues. I know it sounds a little cheesy, the reason I think that defender A.I. used to protect companies-will come out the ultimate victor. But he believes that eventually, “defensive” A.I.-that is, A.I. The bad news? “Right now, I think the defenders are at a disadvantage,” and it’s likely that A.I.-generated cyber attacks will push cybersecurity “in the wrong direction for a year or two until we catch up,” Reiser says. ![]()
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