Crowdflower Raises $12.5 Million in Funding

Crowdflower Raises $12.5 Million in Funding
CrowdFlowerLogo

CrowdFlower, the company that uses crowdsourcing for data scrubbing, announced yesterday it raised some cash to help it bloom.

The newest installment, which was led by Canvas Ventures, brings the San Francisco company’s total funding to $28 million. Other investors in this round include Bessemer Venture Partners and Trinity Ventures.

CrowdflowerHomepage

CrowdFlower, which does data work for companies such as Home Depot and Cisco, pays more than 5 million people to contribute to the data scrubbing. Some of the applications include:

    • Data Collection & Enhancement
    • Content Moderation
    • Search Relevance Tuning
    • Sentiment Analysis

CrowdFlower plans to use the new funds to grow its product and customer base.

To see CrowdFlower demo its newest technology live, come see them at FinovateFall next week in New York. We still have a few tickets left.

Fintech Fundings: $59 million Raised by 18 Companies in Third Week of September

Thanks to the $35 million Series-G funding of Finovate alum, Ping Identity, the fintech sector managed to pull in more than $50 million for the week. The 17 recipients of new investor cash included two financial comparison sites, Hong Kong-based CompareAsia which covers a broad range of personal finance products across Asia and Brooklyn-based Zapari, which focuses on U.S. health insurance. 
Here are the latest fintech fundings in order of magnitude (fundings from Sep 13 through Sep 19): 
Cloud-based identity management
Latest round: $35 million
Total raised: $110 million
Tags: Security, ID, authentication, Denver, Finovate alum
Source: Finovate
Automated debt recovery technology
Latest round: $5 million
Totals raised: More than $5 million 
Tags: Credit, collections, debt, lending, San Francisco
Source: Crunchbase
Asian financial products price comparisons
Latest round: $3 million
Total raised: $6 million
Tags: Lead generation, personal finance, Hong Kong
Source: Crunchbase 
Automated tracking of car mileage for expense reporting
Latest round: $3 million
Total raised: $3 million
Tags: PFM, expense reports, tax deductions, automobile, San Francisco
Source: Crunchbase
Connecting financial institutions and institutional investors to Bitcoin
Latest round: $3 million
Total raised: $3 million
Tags: Cryptocurrency, bitcoin, NYC
Source: Crunchbase
Digital payments technology for financial institutions
Latest round: $2.1 million
Total funding: $3.8 million
Tags: Mobile, payments, Omaha, Nebraska
Source: FT Partners
Gem (formerly BitVault)
Bitcoin platform for developers 
Latest round: $2 million
Total raised: $2.1 million
Tags: Bitcoin, cryptocurrency, 
Source: Crunchbase
DIY wealth management using ETFs 
Latest round: $1.9 million
Total raised: $1.9 million
Tags: Wealth management, investing, roboadvisor, Toronto, Canada
Source: Crunchbase
Social and information network for investors
Latest round: $1 million
Total raised: $1 million
Tags: Investing, news, Twitter, Linked:In
Source: Crunchbase
Crowdfunding via cryptocurrencies
Latest round: $1 million
Total raised: $1.4 million
Tags: Bitcoin, cryptocurrency, Mountain View, CA
Source: Crunchbase 
Italian P2P lending market
Latest round: $580,000
Total raised: $1.3 million
Tags: Lending, credit, crowdfunding, person-to-person, Italy
Source: FT Partners
Dedicated tip hardware for physical point-of-sale
Latest round: $420,000
Total raised: $420,000
Tags: Payments, PFM, credit and debit cards, hardware, POS
Source: Crunchbase
Bitcoin payments and storage
Latest round: $220,000
Total raised: $430,000
Tags: Bitcoin, payments, cryptocurrency, Luxembourg
Source: Crunchbase
Mobile remittance service provider
Latest round: $150,000
Total raised: $150,000
Tags: Remittances, funds transfer, mobile, payments, Dallas
Source: Crunchbase
Reinsurance technology platform
Latest round: Undisclosed
Total funding: More than $2 million
Tags: Insurance, Gibraltar
Source: Anthemis
Mutual fund and investing enterprise software
Latest round: Undisclosed
Total raised: Undisclosed
Tags: Investing, enteprise, Columbus, Georgia
Source: Crunchbase
Health insurance comparisons
Latest round: Undisclosed
Total raised: Undisclosed
Tags: Insurance, Brooklyn, New York
Source: Crunchbase

Debt funding
Patch of Land (presenting Sep 23/24 @FinovateFall)
Real estate crowdfunding
Latest round: $125,000
Total raised: $1.5 million equity, $125,000 debt
Tags: Crowdfunding, mortgage, P2P lending, Los Angeles, Finovate alum
Source: Crunchbase

Alumni News– September 19, 2014

  • Finovate-F-Logo.jpgGreen Dot Agrees to Buy TPG for Tax Refund Processing.
  • PayPal Here now on Android tablets.
  • Klarna Announces U.S. Team As It Plans For 2015 Launch In The U.S.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Plug Into FinDEVr San Francisco 2014

Plug Into FinDEVr San Francisco 2014

Think you’re fully prepared for FinDEVr? Aside from watching some of the top names in fintech present their latest tech and coding alongside others attending the multiple workshops, there will also be plenty of time for networking.

Get a head start by downloading Bizzabo and searching “FinDEVr”. From there, you can see key information about the conference, join the FinDEVr community, and even send in-app messages to other attendees.

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This native app is available in the Apple App Store and Google Play Store. There’s also a web app for Windows phones and web interfaces.

After you’ve downloaded the app, search “FinDEVr” and join the community using LinkedIn or the email address you used to register for the conference.


If you haven’t picked up your ticket yet, there’s still time. Get yours here.

Coinbase Unveils its Open Source Bitcoin API, Toshi

Coinbase Unveils its Open Source Bitcoin API, Toshi
CoinbaseLogo

What is Toshi? And how might it put smiles on the faces of developers working to build Bitcoin-related web apps?

Toshi is the result of Coinbase’s exploration into building web applications using Bitcoin Core. A full Bitcoin node, Toshi gives developers access to raw blockchain data, and is 100% compatible with Bitcoin Core. The open source API is written in Ruby and is backed by PostgreSQL.

CoinbaseHomepage
As explained on the Coinbase Blog, the problem with Bitcoin Core is that while it works well as a reference implementation, Bitcoin Core has its limitations. Specifically, developer struggled to query blockchain data through SQL databases, as well as when trying to scale projects toward the million-user mark over multiple (as in dozens) of servers.
So what can developers do with Toshi?
  • Read information about blocks, transactions, and addresses
  • Broadcast new transactions
  • Receive height and confirmation time stats on the block chain
Coinbase makes a point to say that Toshi is still a v0.1 release, and that developers can expect updates and enhancements to the API in the coming months. More information on Toshi is available here.
ToshiHomepage
Coinbase recently announced that it was now available to European customers in 14 countries. In August, the company acquired blockchain explorer, Blockr.io. And in July, Coinbase launched Coinbase Vault to make it easier for bitcoin owners to securely store their digital currency.
A few Coinbase metrics:
  • 14 countries fully supported
  • 1.6 million consumer wallets
  • 36,000 merchants
  • 6,000 developer apps
Headquartered in San Francisco, Coinbase was founded in July 2012. Brian Armstrong is CEO and co-founded the company with Fred Ehrsam, who serves as President. The company demoed its technology as part of the FinovateSpring 2014 conference in San Jose. See a video of the company in action here.
And if you’re a developer, software architect, or engineer, then visit our FinDEVr page for more information about our upcoming event designed specifically for builders.

Ping Identity Raises $35 Million in Round Led by KKR

Ping Identity Raises $35 Million in Round Led by KKR
PingIdentityLogo

Cloud identity management innovator Ping Identity announced that it has taken its total capital to $110 million, courtesy of a new investment of $35 million.

The funding round was led by KKR, and featured participation from new investor, Ten Eleven Ventures. Also participating were existing investors including:

  • Appian Ventures
  • Draper Fisher Jurvetson
  • General Catalyst Partners
  • SAP Ventures
  • Triangle Peak Partners
  • Volution Capital
  • W Capital Partners
PingIdentityHomepage
Quoted in the Denver Post, Ping senior marketing director, Jeff Nolan said, “The cost of a data breach is far greater than the cost of replacing the old infrastructure in the first place.” Nolan pointed to research that suggested that compromised passwords were the cause of more than 75% of data breaches. Add to this the idea that the $50 billion annually invested in IT security is dwarfed by the estimated $200 billion in password-related losses each year.
“The solution here is not better passwords, but getting rid of the password altogether,” Nolan said.
Ping’s technology leverages secure, open standards like SAML, OpenID, and OAuth to provide cloud-based identity management solutions to more than 1,200 customers around the world, including half of the Fortune 100. Ping Identity provides cloud single sign-on, mobile app identity security, API security, centralized IT control of cloud access and more.
PingIdentityDevPage
Ping Identity has been in the fintech headlines more than once in 2014. The company acquired Accells Technologies in March. In January, the company was rated positively by Gartner’s Web Access Management Marketscope Report. Ping Identity was founded in 2004, and is headquartered in Denver, Colorado. Andre Durand is CEO.
Ping Identity demoed its technology at FinovateEurope 2012. See the video of the company’s presentation here.

Alumni News– September 18, 2014

  • Finovate-F-Logo.jpgLighter Capital increases capital base to $17 million & completes 50th loan.
  • Mint launches on iOS 8 with Touch ID.
  • miiCard participates in NSTIC Pilot for State of North Carolina eID Program.
  • Billhighway wins 2014 “Metropolitan Detroit Best & Brightest Company to Work For”.
  • Ping Identity raises $35 million in round led by KKR.
  • MasterCard announces launch of SimplifyCommerce in Ireland.
  • Monitise and BlackBerry launch BBM Money service for Indonesia consumers using Android, iOS, or BlackBerry smartphones.
  • Coinbase unveils its open source, bitcoin API, Toshi.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

The Conference Journey: Why We Started FinDEVr (and Finovate)

image I just stopped by the Green Lake (Seattle) coffee shop where Eric Mattson and I first hatched the plans for Finovate seven years ago. At that time, we were so focused on selling enough tickets to pay the Midtown Manhattan-sized bills, we had few thoughts on the long-term plan. 

Fast forward seven years.

A week from today we’ll be in NYC for the eighth time hosting the largest Finovate ever, closing in on the 1,500 mark for the first time (much appreciated everyone!!!). Thanks to a surging local fintech community, the NYC event is outselling even the San Francisco area one for the first time since 2011.

Why did we create Finovate?

While I’d like to say we were hoping to bring the fintech community together to foster innovation (which I think has happened), it wasn’t quite that ambitious at the start. I’d always been a conference fanboy, going to four or five per year to speak and/or cover in our publications. But in 2007, one of my favorites cancelled. Looking to fill that void, we created the event that I would most want to attend.

One day. One track. Rapid fire. New products. In NYC. And the ability to speak directly to the speakers afterwards. And thankfully, others shared the affinity for that format.

imageSo, why did we start FinDEVr?

There is so much emphasis on strategy and the big picture these days, that the tools and technical underpinnings to get from here to there can be lost in the noise (case in point, the 1,121 articles on Apple Pay last week). And as the programmable web (APIs, SDKs, etc.) weaves its way into financial services, it’s harder than ever to keep up.

So, we created the event that I would have wanted to go to back when I was an engineer. One that focuses on how to BUILD the new services that eventually show up on the Finovate stage and in bank/CU/financial apps.

Whether FinDEVr attracts the fintech developer community in the same way Finovate has struck a chord with fintech execs remains to be seen. We already have 50% more attendees signed up for FinDEVr (30 Sep/1 Oct 2014) than we had at the first Finovate, so it’s off to a promising start (see details below).

Check back with me in seven years and I’ll let you know if it was the right move. 

———————–

You can still be part of the inaugural FinDEVr in San Francisco’s Mission Bay area. Event registration is open for a few more days. And if you’d like to bring your whole team, please email ([email protected]) and we can work something out. 

There is nowhere else where you can meet the development folk at Yodlee Interactive, TD Ameritrade, MasterCard, Visa, PayPal/Braintree, Forte, Intuit, and Google. Plus Avoka, EVO Payments, Eshtapay, Financial Apps, InComm, Xignite, Xero and 40 others all in the same place and in just two days (see full list here).

image

FinDEVr Preview: PayPal / Braintree and Forte Payment Systems

FinDEVr Preview: PayPal / Braintree and Forte Payment Systems
FinDEVr_logo

Our preview of the upcoming FinDEVr conference continues with a look at two companies whose technologies have become synonymous with payment innovation: PayPal / Braintree and  Forte Payment Systems.

If you’ve missed our earlier previews, check out our previous features on: Yodlee Interactive, TD Ameritrade Institutional, Visa Developers, and MasterCard Developer Zone.
Remember, FinDEVr is less than two weeks away. Get your tickets today and save your spot.

PayPalBraintreeDev_Logo

The PayPal / Braintree Developer program is the face of technology innovation for the companies. Using an open source technology stack foundation, we are constructing new breeds of payment platforms, API standards, and identity systems to support the next generation of disruptive technologies.

PayPalDeveloperHomepage
Why it’s great for developers:
  • Global Payment Platform (25 currencies, 200+ markets)
  • Simple Mobile & Web SDKs, in a multitude of languages
  • Industry leaders wearable payments, identity & biometrics
Keynote: The Future of Payment Identity
In this session we are exploring how new identification techniques around wearables, biometrics, and mobile are vastly changing the payment space.
Workshop
Making Payments Fun
Whoever said payments were complicated/boring? This is a quick introduction into the world of online payments and how to make it fun and enjoyable for your customer. Whether it be on your smartphone or website, we’ll show you how you can get set up and accept payments quickly.
Presenter:
Justin Woo, Developer Evangelist
Justin Woo is a Developer Evangelist at PayPal and has been programming ever since he got his first IBM XT running DOS. He loves writing mobile applications (especially hybrid-HTML5 applications) and wishes everything could be done in LISP.

ForteDevLogo

Forte Payment Systems empowers developers to build secure and innovative electronic payment solutions for all platforms whether online, at a physical POS or on the road. Able to provide the modern, robust and powerful options that large companies demand, along with the ease of use, simplicity and affordability for the smallest of operations, Forte redefines the notion of flexibility and scalability.

ForteDevHomepage
Why it’s great for developers:
  • Single API to enable Credit, Debit and Electronic Check (ACH)
  • Unlimited free support and sandbox access
  • Tokenization and PCI Compliance
Keynote: Professional Payments Made Easy: Developer to Developer
Enable payments into your application with Forte’s full range of enterprise-class services. Our modern and professional RESTful APIs have been implemented to simplify integrations, yet keep power and flexibility for developers to build massively scalable and distributed payment-enabled solutions.
Workshop
Forte Payment APIs – Deep Dive
This hands-on workshop is focusing on integration using Forte.js, Forte Checkout and Forte’s REST-based APIs. We’ll also discuss our SDKs, which make integration using today’s most popular development languages and mobile OS a snap.
Presenter:
Jeff Thorness, CEO, Founder and Coder
Originally a coder, Thorness wrote the very first line of code to launch the company. With his inspired vision and thoughtful management, Forte has evolved into one of the largest privately-held payment processors in the nation.


Join us Friday for more of our FinDEVr Preview featuring Silver sponsors, Financial Apps, Avoka, Xero, Incomm, EVO Snap, Xignite, Eshtapay, and the Intuit Partner Program.

TransferWise Announces Redesign, Takes on Banks in First National TV Ad

TransferWise Announces Redesign, Takes on Banks in First National TV Ad
TransferWiseNewLogo2014

When we last looked at international money transfer innovator, TransferWise, the company was on the receiving end of a major investment from the likes of Sir Richard Branson, and Peter Thiel’s Valar Ventures.

Today we are happy to see some of that capital put to work.

TransferWise has announced a major redesign, including a new national television ad. Taavet Hinrikus, co-founder of TransferWise, noted that part of the challenge for startups like his are a “handful of major players” who dominate retail banking in the U.K. 

TransferWiseHomepage
This forces companies like TransferWise to come up with new, innovative ways to attract customers from the brand names they’ve grown up with.
TransferWise_iPhone6

To this end, TransferWise’s makeover comes in three parts: web, design, and mobile. The website has been streamlined to speed customer onboarding and make the interface more intuitive. And a new logo has been designed to help distinguish the company’s brand from traditional money transfer organizations like banks and brokers.

But the most exciting part of the redesign are the changes on the mobile side. TransferWise is now optimized for iOS8 for iPhone 6, iPhone 6+, and the iPad. This includes what the company calls “deep integration” with the iPhone contact book.
“We believe that just being a little better isn’t enough,” added Hinrikus. “So we strive to offer something that’s ten times easier, faster, and better than the banks to make mainstream consumers of alternative finance providers like us.”
This leads us to what might be the most talked about aspect of TransferWise’s redesign: the company’s cheeky new TV spot. TransferWise’s first national television ad humorously features a “Wolf of Wall Street” like banker walking through his offices and lightheartedly lamenting the rise of TransferWise. 
TransferWise_VideoShot
TransferWise was founded in March 2010 and is headquartered in London. The company demoed its technology at FinovateEurope 2013. See a video of their demo here.

Alumni News– September 17, 2014

  • Finovate-F-Logo.jpgCorrection: FreeAgent surpasses 2,000 customers in a single partnership deal.
  • Insuritas customer Denali Alaskan FCU increases revenue by 22% over the past 2 years from Insuritas solutions.
  • Cortera announces Cortera Score, a predictive risk measurement that extends the Cortera Pulse service.
  • App Annie expands mobile app analytics platform with analytics for Facebook Ads.
  • InComm partners with the Virginia Department of Transportation to launch the Virginia E-ZPass Reload Card.
  • Zooz and Alipay partner to give merchants access to Chinese customers.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateFall 2014 — Less than 50 tickets left! Don’t miss out!

btn3_ov.pngFinovateFall 2014 is next week and it’s official that the event will be the largest Finovate to date! Over 1,300 tickets have already been sold and we have less than 50 remaining!

If you’re interested in attending to see the future of fintech debut live on stage via our fast-paced demo-only format, please get your ticket as soon as possible to lock in your seat.

As usual, the auditorium is going to be packed a potent blend of innovative bank
execs, fintech entrepreneurs, venture capitalists, press, and industry
analysts. In case you’re curious, below is a small sample of the great organizations already committed to attend:

  • Accenture
  • Adobe
  • American Express
  • Ameriprise
  • Bain Capital
  • Bank of America
  • Bank of Ireland
  • Bank of Montreal
  • Barclays
  • BBVA Compass
  • BlackRock
  • C1 Bank
  • Capital One
  • CIBC
  • Citi
  • Citi Ventures
  • CFPB
  • DBS Bank
  • Deliotte Consulting
  • Discover
  • Equifax
  • Everbank
  • Experian
  • Fidelity
  • FIS Global
  • Forbes
  • Fortune
  • FTV Capital
  • Gartner
  • Goldman Sachs
  • IBM
  • Intuit
  • Jack Henry
  • JP Morgan Chase
  • KPMG
  • Liberty Mutual
  • MassMutual
  • MasterCard
  • MACU
  • New York Life
  • Nordea
  • Oliver Wyman
  • Paypal
  • Polaris Partners
  • Primerica
  • PwC
  • QED Investors
  • RBC
  • Regions Bank
  • Rockland Trust
  • Route 66 Ventures
  • S&P Capital IQ
  • Santander
  • SAP
  • Saxo Bank
  • Sberbank VC
  • Scottrade
  • Silicon Valley Bank
  • SixThirty
  • Societe Generale
  • Sony
  • Swedbank
  • Tangerine Bank
  • TD Ameritrade
  • The Huffington Post
  • The Principal
  • Umpqua Bank
  • USAA
  • Venrock
  • Visa
  • Wells Fargo
  • World Bank
  • Xignite
  • Yankee Group
  • Zions Bank

We’ll see you in New York in September (or in San Francisco for FinDEVr)!

FinovateFall 2014 is sponsored by: The Bancorp, CapitalSource, Financial Technology Partners, Greater St. Louis Financial Forum, Hudson Cook LLP, Life.SREDA, UK Trade & Investment, Visa, Xignite & Zions Direct

FinovateFall 2014 is partners with: Aite, ABA, Bank Innovators Council, BankersHub, Bobsguide, California Bankers Association, Canada, Celent, Filene Research Institute, Hotwire PR, Javelin Strategy, Mercator, NYPAY, Payment Week, The Paypers, SME Finance Forum, & Visible Banking