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SurgePays Secures $7M Funding to Accelerate Nationwide Expansion in Wireless Technology
SurgePays, a key player in wireless and financial technology, has secured a $7 million financing deal to enhance mobile and financial services for underserved communities. This deal includes a $6 million cash component and a buyback of 333,333 shares from an existing institutional shareholder, with a two-year maturity. The funds will be used to accelerate the rollout of LinkUp Mobile and expand MVNE operations following SurgePays’ recent launch with AT&T. CEO Brian Cox expressed gratitude for the shareholder’s support, emphasizing the investment’s role in strengthening the company’s strategy and financial outlook.
MAPFRE Unveils AI Center and Ethical Manifesto to Pioneer Responsible AI Development in Spain
MAPFRE, Spain’s leading insurer and the largest in Latin America, has launched a Manifesto for a Humanistic, Ethical, and Responsible AI, aiming to promote responsible practices in the insurance sector. Accompanying the Manifesto is the new AI Center, making MAPFRE the first IBEX 35 company to implement guiding AI principles. The Manifesto highlights five commitments: a hybrid AI model, responsible governance, trust and transparency, employee empowerment, and sustainability. The AI Center will serve as a global hub for AI governance and innovation, focusing on impactful use cases that benefit customers and the business, ensuring AI serves people rather than replacing them.
InsureVision Secures $2.7M to Revolutionize Insurance Risk Pricing Using Contextual Driving Data
InsureVision, an InsurTech company specializing in AI-driven vehicle risk assessment, has raised $2.7 million in a seed funding round led by Rethink Ventures, with contributions from Twin Path Ventures and State Farm Ventures. This funding will enhance InsureVision’s innovative “enviromatics” technology, which uses advanced vision transformer technology to analyze video from standard vehicle cameras, providing a comprehensive view of driving environments and behaviors. The investment will help accelerate product development and expand its international market presence, setting new standards in risk assessment for insurers and fleet operators.
Jump Secures $20M to Boost AI-Driven Efficiency for Financial Advisors
Jump, an AI solutions provider for financial advisors, has raised $20 million in a Series A funding round led by Battery Ventures, with contributions from Citi Ventures and others, bringing its total funding to $24.6 million. The investment aims to enhance advisor productivity through AI tools for automation, compliance, and data management. Since exiting beta in January 2024, Jump has experienced over 35% monthly growth and partnered with firms like LPL Financial. CEO Parker Ence emphasized the platform’s efficiency, saving advisors an average of one hour per workday, while enhancing client engagement and compliance.
Wirespeed Secures Funding Boost for Managed Detection and Response Solutions
Wirespeed, a cybersecurity startup launched in July 2024, has gained attention after securing seed funding to enhance its managed detection and response (MDR) services. Led by Mairs & Power Venture Capital, the funding round attracted notable investors, including Gary Fish, Deke George, and Jeremiah Grossman. Wirespeed’s innovative MDR platform features a proprietary logic engine for rapid threat analysis and integrates with tools like Slack and Microsoft Teams, promoting ease of use for clients. CEO Tim MalcomVetter expressed gratitude for early customers’ support as the company aims to modernize cybersecurity measures.
FS-ISAC Unveils Vital AI Guidelines to Ensure Financial Sector Stability
FS-ISAC, a non-profit organization focused on cybersecurity in the financial sector, has released a guidance document titled “Charting the Course of AI: Practical Considerations for Financial Services Leaders.” Developed by its AI Risk Working Group, the report outlines a framework for implementing AI technologies in financial firms, addressing challenges like talent shortages and evolving regulations. It provides risk scenarios and a strategic blueprint for decision-making. Mike Silverman, FS-ISAC’s Chief Strategy & Innovation Officer, emphasized AI’s potential to transform the industry while urging a balanced approach to innovation and security. The guidance aims to support resilient financial infrastructures.