TechTaffy

tech:

taffy

Kinetic Social Raises $8M Series A Round

By TechTaffy Desk

Kinetic Social, a social media advertising technology company, has raised $8 million in an initial close of a Series A round of financing.

The pact was structured with a companion venture term debt facility. Equity financing was provided by Blue Chip Venture Company (BCVC), and the venture debt financing was provided by Gibraltar Business Capital.

The venture debt from Gibraltar comes on top of a revolving working capital facility provided in mid-2012.

Kinetic Social was launched in 2011 with early stage capital provided by RBC Bank.

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.