All posts tagged: 12.5M

Conveyor raises .5M to automate security reviews using LLMs

Conveyor raises $12.5M to automate security reviews using LLMs

In a perfect world, companies would vet the security and compliance of every third-party vendor they use. Sales wouldn’t close until these reviews are complete. The trouble is, security reviews require a massive investment of time — and labor. Questionnaires — the main way companies vet vendor — contain hundreds of questions, covering everything from privacy policies to physical datacenter security. And they can take days to weeks for vendors to complete. Attempting to streamline the process, Chas Ballew founded Conveyor, a startup building a platform that uses large language models (LLMs) along the lines of OpenAI’s ChatGPT to generate responses to security questions in the original questionnaire format. Conveyor today announced that it raised $12.5 million in a Series A funding round led by Cervin Ventures, bringing its total raised to $19 million. The proceeds will be put toward expanding Conveyor’s sales and marketing efforts, R&D and 15-person workforce, Ballew said. “Security reviews are still largely an old-fashioned process,” Ballew told TechCrunch in an email interview. “Most companies are still using manual work to …

Advanced Ionics nets .5M Series A to inject green hydrogen into heavy industry

Advanced Ionics nets $12.5M Series A to inject green hydrogen into heavy industry

When people talk about hydrogen these days, they almost always mention transportation. I get it: people are used to filling up tanks, not charging cars. But from a practical perspective, transportation is not a great use for hydrogen. “Hydrogen is really terrible to store and to transport,” said Chad Mason, founder and CEO of Advanced Ionics. Which is why Advanced Ionics is a hydrogen company that has nothing to do with transportation. Instead, the startup is focused on heavy industry, which represents about a third of global emissions. “Hydrogen is one of the main feedstocks for a vast majority of industrial processes,” Mason told TechCrunch+. It’s essential for the ammonia used to make fertilizers and for many petrochemical processes used to make everything from plastics to synthetic rubber and lubricants. Even steel and glass production could benefit from a decarbonized source of hydrogen. Amid the crowd of hydrogen companies hoping to elbow their way into these markets, Advanced Ionics hopes its more efficient approach to using electrolysis will give it an unfair advantage in producing …

beehiiv, a newsletter platform, gets .5M in its inbox

beehiiv, a newsletter platform, gets $12.5M in its inbox

The world took a double take at the potential of newsletters after Substack started to blow up a few years ago. Now, another buzzy startup wants to disrupt the disruptor. beehiiv, a(nother) platform for writing, monetizing and distributing newsletters, is today announcing that it has raised $12.5 million, a Series A that it will be using to expand its product, bring on more writers and build out its revenues. Lightspeed Venture Partners is leading this round with Social Leverage, Creator Ventures, Blue Wire Capital, and Contrarian Thinking Capital also participating. The premise of beehiiv (styled with a lower “b”) is pretty simple: Tyler Denk, the co-founder and CEO, believes that while social media is where writers and other creators may have made their names, email — with its estimated 4.4 billion users overall — remains the most lucrative channel for communicating and building more audience. And putting aside the fact that some of us have inboxes overrun with too much junk, email gives us the tools for more curation, where newsletters can thrive. So, even …