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Thursday, October 4, 2018

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First Up

Will: Enjoying The Beat so far? Have some suggestions, thoughts, pitches? Let’s hear ’em; hit us up at Lots to get to today, so let’s go…

The Big One

A breakdown on the day’s biggest Inno story.

Stealth Mode

Randori, a startup that claims to be the ‘industry’s first nation-state caliber attack platform,’ emerged out of stealth mode today with $9.75M in seed funding from Accomplice Ventures, .406 Ventures and Legion Capital. While the secretive startup is headquartered in Boston, it also has offices in Denver.

The startup is developing an attack platform that will launch ‘real attacks’ on companies, emulating advanced hacks and threats companies face today.

The cybersecurity industry today is full of startups offer penetration testing (pen testing, for short) and simulated attacks that identify vulnerabilities and tackle threats. What Randori claims to do is slightly different: By launching real attacks, the platform aims to provide real-time insights into how attackers view customers’ environments.

“This thinking itself is new,” CEO and founder Brian Hazzard told us. “What we are building has been around, but only in the hands of the bad guys. The whole industry is stuck in the defender’s mindset, and this will flip the table upside down.”

Founded in February 2018, the company launched the alpha release of the product in June and has already signed on Fortune 500 companies in oil and gas, financial services, healthcare industries.

[More on Randori and how they’ll deploy its capital here]

Making Moves

Inside the people, companies and organizations making moves today.

The 400

Forbes released its annual 400 yesterday, a definitive list of the wealthiest people in America. 5 Coloradans cracked the rankings…

40: Philip Anschutz ($11.3B): LA Kings Owner & real estate, railroad, entertainment – you name it – entrepreneur.
44: Charles Ergen ($10.8): Co-founder and current Chairman of Dish Network and EchoStar
67: John Malone ($7.5B): Former CEO of TCI
179: James Leprino ($4B): Owns the world’s largest mozzarella cheese maker, supplying Pizza Hut, Domino’s and Papa John’s.
354: Pat Stryker ($2.3B): Philanthropist and political activist; granddaughter of Homer Stryker, founder of medtech giant Stryker Corporation.

Also, for the first time since 1994, a new name sits atop the 400. The list is now topped by Jeff Bezos ($160B), followed by Bill Gates ($97B), Warren Buffet ($88.3B), Mark Zuckerberg ($61B) and Larry Ellison ($58.4B). [More Here]

Cybersecurity Contract$

A couple days after the company revealed that it was expanding operations into Canada, Colorado Springs cybersecurity firm R9B announced today that it has won over $8M in new commercial and government contracts, including developments with an undisclosed Fortune 500 retailer and a leading eCommerce company. [More Here and we have some additional cybersecurity thoughts in the Random section]

In The Know

The CO tech stories you need to read today.

Elsewhere in Inno

Stories from around the Inno network we think you’ll dig.

New Money

A roundup of today’s deals.

Front Range Biosciences, a Boulder-based agricultural biotech company, announced that it raised a $10M Series A, the largest ever fundraise by a U.S. cannabis biotech business. (Front Range specializes in tissue culture propagation of high value crops, such as hemp, and cannabis.)

The round featured a number of investors, including Phyto Partners, WelCan Capital, Salveo Capital, Cornerstone Opportunity Partners, Sand Hill Angels, Harvard Business School Alumni Angels of New York and more.

Explained founder and CEO Dr. Jonathan Vaught in a statement, “As cannabis and hemp legalization spreads throughout the United States and internationally, there is an increase in demand for clean, quality crops — this capital will also enable us to expand our capacity to meet a small portion of that demand.” [More Here]

The Quad

A quick spotlight on campus innovation.

Drones Below

When you think about drones and drone research, you tend to look up. But researchers from CU Boulder, CU Denver and Boston-based SSCI are partnering to design drones that can be used for subterranean search and rescue, as well for exploration of subway tunnels, caves and mines. The team received a $4.5M grant from DARPA to fund the project, which will run through fall, 2021. [More Here]

In The Community

The events and happenings to know about tonight and this week.

Coming Up

Also, be sure to check out our monthly Inno Approved post for a more complete dive into the events & meetups you need to have on your calendar.

Random, Rants & Ramblings

The fun stuff.

Why So Secretive?

In the R98 and Randori blurbs today, both firms were vague on who they’re exactly working with.

Now, this used to annoy me, the fact that cybersecurity firms almost always withhold the names of their clients. I just foolishly assumed that it was for competitive reasons.

But I was talking (read: complaining) to a cybersecurity CEO recently about this and he told me that they’d LOVE to disclose who they worked with (it’d be great for press and hiring), but they can’t mostly due to NDAs.

He said that if hackers knew exactly who major companies used for security and defense, it could potentially make it easier to try and reverse-engineer a way in. Basically, corporations don’t want lock-pickers to know who’s making their locks.

It makes sense, but it does make it harder for the media to validate the legitimacy of a cybersecurity company’s rolodex. That’s often why you see players within this industry, more than in others, announce the size of their contracts; it’s all they got!

Beat Gotta Eat

A big thanks to Comcast, our Founding Partner, for supporting both the launch of Colorado Inno and the state’s tech and startup communities.

Comcast immediately understood the value that authoritative, engaging storytelling and events can add to an ecosystem and we appreciate them helping bring an Inno to Colorado.

Featured Jobs

Featured startup and tech jobs on Colorado Inno’s new Careers Directory.

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Meet The Authors

Nick Greenhalgh
American Inno |

Will Flanagan
American Inno | 

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