Latest news with #PrakharSrivastava
Time of India
01-07-2025
- Business
- Time of India
Israel's Cato Networks valued at over $4.8 billion in latest funding round
By Prakhar Srivastava Israel's Cato Networks said on Monday it had raised $359 million in a funding round , valuing the cybersecurity firm at more than $4.8 billion, as investors bet on growing demand for artificial intelligence-driven security and networking solutions. An uptick in sophisticated cyberattacks has prompted fears of operational disruptions among companies and an increase in investor interest in AI-powered cybersecurity providers. The funding was led by Vitruvian Partners and ION Crossover Partners, along with existing investors Lightspeed Venture Partners and Acrew Capital, among others. The latest round brings Cato's total funding to more than $1 billion. "With analysts projecting information-security outlays to climb at a double-digit clip through 2028, investors continue to treat cybersecurity and zero-trust plumbing as 'can't-cut' line items even as other tech niches cool," said Michael Ashley Schulman, chief investment officer at Running Point Capital. Cato Networks plans to use the new funds to enhance its AI-driven security capabilities, increase investment in research and development and expand its global footprint. "Hefty private cash for Cato is less a one-off jackpot than a barometer that big-ticket appetite for cybersecurity is still running hot and that an exit wave through IPO, active secondaries, or acquisition may be warming up behind it," Schulman said. Reuters had reported last year, citing sources, that the company was gearing up for a potential 2025 IPO. Cato, founded in 2015 by Shlomo Kramer and Gur Shatz, combines network services and security into a single cloud platform known as secure access service edge ( SASE ). Its SASE solution helps businesses prevent threats, protect data and quickly respond to incidents. The SASE market is projected to surge to $25 billion by 2027 from $7 billion in 2022, according to Gartner's 2023 report. Customers listed on the company's website include Swissport, Carlsberg, Element Solutions and Komax.
Zawya
02-06-2025
- Business
- Zawya
From start-up to standout: Why investing in techpreneurs is investing in the future?
In May 2025, GoodApp, a South African-born home services platform, was named Start-Up of the Year at the prestigious Intelligent ICT Awards, an honour that not only recognises technical achievement but also affirms the growing momentum behind purpose-driven African innovation. Founded with a bold vision to reimagine how communities' access essential services, GoodApp is quickly becoming a case study in what's possible when local talent meets global ambition. More than just a service marketplace, it is a digital infrastructure layer that connects customers with vetted professionals ranging from electricians and plumbers to beauticians, handymen, massage therapists, and more, all at the tap of a button. At the helm of the company's technological evolution is Prakhar Srivastava, Chief Executive Officer, whose product leadership has enabled the platform to scale rapidly across South Africa's urban hubs. 'We believe technology should be transformational, not just functional,' says Srivastava. 'GoodApp was created to remove friction from everyday life and unlock opportunity for both users and service providers.' The team's journey from a bootstrapped concept to an award-winning platform underscores the broader need for more investment in African tech ecosystems. While recognition is valuable, Srivastava emphasises that startups need more than applause, they need capital, infrastructure, mentorship, and regulatory environments that allow innovation to thrive. Across the continent, a new generation of techpreneurs is building solutions that are locally grounded yet globally scalable. From fintech and agritech to healthtech and edtech, African founders are no longer just responding to problems, they're anticipating them. 'It takes an ecosystem,' notes Srivastava. 'Investors, regulators, customers, and collaborators must come together with a shared belief that tech is not just an industry, but a vehicle for inclusive growth.' GoodApp's rise is a testament to that philosophy. Its platform prioritises trust, quality, and community upliftment, with every service provider undergoing rigorous vetting, background checks, and performance monitoring. Customer ratings and reviews ensure transparency, while technology enables seamless access for users across income levels and geographies. Srivastava concludes: 'As African digital economies continue to expand, platforms like GoodApp show what's possible when ambition meets support – and when startups are given the resources to scale. To policymakers: build frameworks that encourage innovation. To investors: look beyond the spreadsheet – see the vision. To founders: build with purpose, and build for people. Because the next global tech success story won't just come from Silicon Valley. It will come from Soweto, Nairobi, Lagos, or Khayelitsha. And when it does, it will be because someone chose to back an idea that mattered.'
Yahoo
26-03-2025
- Business
- Yahoo
Israel's eToro files for US IPO as retail trading boom boosts commissions
By Manya Saini and Prakhar Srivastava (Reuters) -Israel's eToro reported a 46% surge in commissions for 2024 as the retail trading platform filed for a U.S. initial public offering late on Monday, joining a wave of firms seeking to test investor appetite for fresh listings. After years of sluggish activity, the IPO market is expected to see a long-awaited revival in 2025, with a pipeline of high-growth companies aiming to go public. Easing interest rates and renewed risk-taking have increased optimism, but analysts say the market's rebound hinges on the success of marquee listings. "Management and owners are clearly seeing a 'window of opportunity' to take their companies public now," said Josef Schuster, CEO of IPO-focused investment indexes, IPOX. Retail trading surged in 2024 as equity markets hit record highs, fueled by a resurgence in risk appetite among investors. Enthusiasm for stocks and cryptocurrencies was amplified by easing recession fears, strong corporate earnings and expectations of Federal Reserve rate cuts. Online brokerage firms reported a sharp uptick in trading volumes, with options and speculative bets gaining traction as individual investors returned to the market in force. Founded in 2007, eToro operates a trading platform that allows users to invest in stocks, cryptocurrencies and other assets while mirroring the strategies of top investors. Its total commission jumped to $931 million in the year ended December 31, compared with $639 million a year earlier. Profit was $192.4 million versus $15.3 million in the year-ago period. "The IPO will provide the company with the flexibility to potentially expand beyond crypto to capture the generational opportunities opening up from the rise of the retail investor globally," Schuster said. The trading platform had scrapped plans to go public in 2022, after eToro and Betsy Cohen-backed FinTech Acquisition mutually agreed to terminate their merger deal through a special purpose acquisition company. Strong debuts from buzzy tech and consumer-facing firms could reignite broader dealmaking, while a lukewarm reception may keep issuers on the sidelines. In March 2023, eToro raised $250 million in a funding round that valued the online brokerage at $3.5 billion. The company plans to list on the Nasdaq under the ticker symbol "ETOR". Goldman Sachs, Jefferies, UBS and Citigroup are the lead underwriters of the offering. Sign in to access your portfolio
Yahoo
08-02-2025
- Business
- Yahoo
Exchange operator Cboe's quarterly profit climbs as hedging activity surges
By Prakhar Srivastava and Laura Matthews (Reuters) -Exchange operator Cboe Global Markets reported a rise in fourth-quarter adjusted profit on Friday, driven by increased options trading as investors sought to hedge against risks from economic and geopolitical uncertainties. Cboe's options trading segment revenue grew 3% in the quarter, compared with last year, while futures revenue fell 7%. Heightened concerns about interest-rate cuts, a potential trade war and geopolitical tensions kept investors on edge despite a strong market rally, driving demand for hedging. "With our diverse suite of products, we are well situated to help market participants navigate the elevated uncertainty we're witnessing across the market and geopolitical environment," said Fredric Tomczyk, chief executive officer at Cboe, on a call with analysts. Tomczyk said the "markedly different tone" from the new administration in Washington, with deregulation and tax cuts, was fostering bullish sentiment. However, he cautioned that significant geopolitical uncertainty remains, which along with recent tariffs and a record number of executive orders is injecting volatility into the market. Shares in Cboe were up around 2.4% at $211.91 at 1623 GMT. Average daily volumes in S&P 500 index options increased 7%, while those of options linked to the VIX Volatility Index, Wall Street's "fear gauge", rose 12% from a year earlier. Average daily volumes in total company options increased to 15.7 million contracts in the reported quarter from 14.9 million a year earlier. Demand for options contracts opened on the same day they expire, or 0DTE (zero-days-to-expiry), rose 6%. On an adjusted basis, the exchange operator's net income allocated to common shareholders totaled $221.2 million, or $2.10 per share. Analysts on average were expecting earnings of $2.11 per share, according to data compiled by LSEG. Cboe's fourth-quarter net revenue rose 5% to $524.5 million, also broadly in line with expectations for $525.88 million. Revenue from North America equities rose 10% to $94.9 million. SUCCESSION Tomczyk said he and the board engaged a search firm late last year to assist with finding his successor, with both internal and external candidates being considered. Tomczyk became CEO in September 2023 when Edward Tilly resigned after failing to disclose personal relationships with colleagues, bringing his decade of leadership of the company to an abrupt end. Once a new CEO is appointed Tomczyk plans to remain a director on the board, he said.
Reuters
30-01-2025
- Business
- Reuters
Weight-loss drug developer Metsera raises $275 million in US IPO
Jan 30 (Reuters) - Weight-loss drug developer Metsera has raised $275 million after pricing its U.S. initial public offering at $18 per share, above its targeted range, the ARCH Venture Partners-backed biotech company said on Thursday. Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here. Reporting by Prakhar Srivastava and Kanjyik Ghosh in Bengaluru; Editing by Alan Barona
