Shift Technology Raises Funds | Bill.com set to acquire Divvy | Neu-Reality unveils a new AI-centric inference platform | Comforte AG announces a new partnership with Rakatu

The SaaS News Roundup

France-based Shift Technology, a SaaS provider, of AI-enhanced decision automation and optimization solutions for the insurance sector, raises $220 million in Series D funding round. Shift Technology‘s latest investment round, brings total investment in the company, to $320 million along with a market valuation, of over $1 billion. This investment reportedly marks Advent’s sixth growth equity investment in 2021. Shift’s round was led by Advent International, via Advent Tech, along with contributions from Avenir, and other investors. With this latest funding, Shift said it would use the capital to expand its business operations into the US, Europe, and Asia as well. The funds raised by Shift Technology, will also be used to support research and development work, in the implementation of new solutions, to cater to innovative decision automation and optimization needs, for insurers.

Corporate finance software provider, Bill dot com LLC has signed a $2.5 billion deal, to acquire Divvy-Pay Inc., better known as Divvy, whose cloud service enables companies to issue business credit cards to their employees. Publicly traded Bill dot com said on Thursday, that it’s financing the transaction with $625 million in cash, and $1.875 billion worth of common stock. For Bill dot com, the rationale behind the acquisition is that it will allow businesses to make their finance operations more centralized. Bill dot com provides a single pane of glass for paying suppliers and sending invoices that, with the addition of Divvy’s technology, will also enable businesses to manage corporate credit cards, in the same place.

Neu-Reality, an Israeli AI start-up that's developing high performance AI compute platforms for cloud data centres and edge nodes, has unveiled NR1-P, a new AI-centric inference platform. NR1-P is NeuReality’s first implementation of this new AI-centric architecture, with other implementations to follow. This prototype platform validates the technology, and allows customers to integrate it in orchestrated data centres, and other facilities. The prototype platform aims to accelerate the growth of real-life AI applications, such as public safety, e-commerce, social networks, medical use-cases, digital assistants, recommendation systems and Natural Language Processing.

Comforte AG, a global leader in enterprise data security, has announced a new partnership with the UK-based data security consultancy firm, Rakatu. Modern enterprises both large and small, must look beyond traditional perimeter security and encryption, to keep sensitive data safe. Rakatu and comforte, will enable more organizations to leverage cloud technologies, while keeping sensitive data safe.