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Pixee Secures $15M in Funding to Revolutionize Application Security with AI-Powered Code Remediation
Pixee, a U.S.-based application security firm, has secured $15 million in seed funding to enhance its AI-driven code remediation platform aimed at automating security processes for developers. Co-led by Decibel and Wing VC, with support from TEDCO and strategic angels including early GitHub engineer Zach Holman, the funding will accelerate product development and expand Pixee’s market efforts. The platform automates application security, improving developer efficiency with reported gains of 91% in remediation time reclaimed and 74% in triage time. CEO Surag Patel emphasized empowering security teams to enhance productivity and expedite secure code delivery.
Fenergo Fuels Ocorian’s Digital Transformation with Cutting-Edge AI-Driven Customer Lifecycle Management Platform
Ocorian has partnered with Fenergo to enhance its digital transformation by automating client due diligence and compliance processes globally. This collaboration aims to boost operational efficiency, reduce compliance risks, and improve client onboarding experiences through Fenergo’s AI-powered Client Lifecycle Management platform. Key benefits include automated risk assessments, streamlined data classification, and real-time regulatory oversight. Ocorian’s CIO, Stuart Geddes, highlighted the need for digital solutions amid growing regulatory complexity, while Fenergo’s Managing Director, Ruth Ormsby, expressed enthusiasm for simplifying compliance and enhancing operational efficiencies. This partnership is part of Ocorian’s broader strategy to leverage technology for improved service delivery.
How Outdated Voice Recording Systems Endanger Your Organization’s Compliance: Key Risks and Solutions
Financial institutions using outdated voice recording systems like NTR and Red Box Quantify face significant compliance challenges as these technologies approach end-of-life. These legacy systems fail to meet global regulatory data retention and integrity standards, exposing organizations to risks. Delaying the transition to compliant solutions may lead to severe recordkeeping breaches and increased costs. A secure migration strategy is essential to preserve authenticity, establish a clear chain of custody, and ensure auditability. Wordwatch is hosting a webinar for compliance leaders to discuss modernization strategies, regulatory expectations, and how to decommission obsolete technology while maintaining compliance.
Mimo Secures $8.5M Equity Round and Launches $125M Embedded Funding Partnership with Froda
Mimo, a platform focused on optimizing global payments and financial management for small and medium-sized businesses (SMBs), has raised $8.5 million in equity funding, led by Project A with support from Northzone and Seedcamp. This funding will enhance Mimo’s offerings, including a partnership with Froda to provide over $125 million in working capital solutions in the UK and beyond. Founded in 2023, Mimo features tools like automated invoice processing and integrated bookkeeping. With plans for expansion and new products, Mimo aims to simplify financial management for SMBs, positioning itself as a leader in the sector.
Ramp Soars to $13 Billion Valuation with $150 Million Secondary Sale: A FinTech Powerhouse Emerges
Ramp, a financial operations platform, has raised $150 million through a secondary share sale, valuing the company at approximately $13 billion. The funding, backed by prominent investors like Stripes and Thrive Capital, will enhance Ramp’s corporate finance solutions. Founded in 2019, Ramp offers services such as corporate cards, expense management, and bill payments, serving over 30,000 businesses. The new capital will accelerate product development, particularly in AI, to automate financial processes. CEO Eric Glyman emphasized the company’s mission to reduce financial waste, while investor Ken Fox praised Ramp’s growth and efficiency across multiple product lines.