Thursday, July 7, 2022 Jul 7, 2022
103° F Dallas, TX
Business Briefs

Cybersecurity Startup HacWare Will Expand with $2.3 Million Capital Raise

Plus: Frito-Lay deploys electric truck fleet; Remington Hotels acquires Chesapeake Hospitality; and more.
By |
Image
iStock

For Dallas-based cybersecurity startup HacWare revenue increased its revenue 10 times its annual revenue norm in 2020, fueled by increased demand for phishing and ransomware protection. Now, it has raised $2.3 million in seed funding to continue to scale.

Following the new capital round—led by Oregon-based venture capital firm Elevate Capital—HacWare plans to expand its network of developers and offer more tools to integrate its protection program with existing cybersecurity and HR platforms. 

Tiffany Ricks headshot
HacWare founder and CEO, Tiffany Ricks

“HacWare is the future of cybersecurity, and we are excited about our integration strategy to make cybersecurity training accessible to lead security teams and busy professionals throughout the world,” HacWare Founder and CEO Tiffany Ricks told D CEO.

HacWare’s customer base has experienced a 60 percent reduction in malware outbreaks and a 40 percent reduction in labor costs once switched onto HacWare’s application programming interface.

“We are impressed with HacWare’s innovative and targeted approach to protecting workforce data from cybersecurity threats and phishing attacks,” Nitin Rai, Elevate Capital founder and managing partner, said. “Using A.I. technology and a powerful security education system, HacWare turns ‘risky security habits into strengths’ and helps reduce malware outbreaks. Elevate Capital is thrilled to lead this investment and to work with Tiffany and her team—continuing our commitment to support underserved minority and Black women entrepreneurs with early-stage funding.” 

According to a study conducted by Crunchbase, less than 0.35 percent of all venture capital funding went toward Black female-founded companies in 2020.

“I may be the 114th Black female founder to raise over $1 million in venture capital, but I won’t be the last,” Ricks said. “I don’t focus on what they say Black women and minorities can’t do. I am proving them all wrong! I hope I am inspiring more Black women to dream and build big, scalable businesses.”

Frito-Lay Deploys First Fleet of Electric Delivery Trucks in Carrollton

Image
iStock

In partnership with Ford, Plano-based Frito-Lay will soon launch a fleet of electric delivery trucks across Texas. The initiative will allow the company to continue its plans of achieving net-zero emissions by 2040. The first fleet of 40 delivery vehicles will be deployed in Carrollton.

The new e-trucks will reduce Frito-Lay’s greenhouse gas emissions by 390 metric tons. The company has already achieved 100 percent renewable electricity for every plant, distribution center, and other various buildings in the U.S.

“We are always only one idea away from changing the world,” Rachel Ferdinando, FritoLay chief marketing officer, told D CEO.

Remington Hotels Acquires Chesapeake Hospitality in $26 Million Deal

Dallas-based Remington Hotels has acquired Chesapeake Hospitality—which manages properties throughout the East Coast and Midwest. The transaction, which has a maximum value of $26 million, is made up of cash and stock options.

Remington President and CEO Sloan Dean said, “By melding Chesapeake’s culture and know-how with ours, we believe we are well-positioned to cultivate even stronger relationships with our properties’ owners by providing them with more resources, better economies of scale, and a more satisfying guest experience.”

Through the transaction, Remington will add the 877-key Showboat Atlantic City to its hotel portfolio, the largest of its now 121 properties. Chesapeake CEO Chris Green will become Remington’s divisional president.

“I’m so proud that Chesapeake is joining Remington, a company that is known for its stellar results and has made a real cultural shift in the hotel management space,” Green said. “This partnership will be a practice in blending two companies that have operated in different geographical lanes and have a steadfast commitment to doing what is best for their clients and employees.”

Frisco’s ClearEstate Expands into Texas Market

Following a $13.25 million Series A funding round, estate planning company ClearEstate—which holds U.S. headquarters in Frisco—is expanding its offerings into Texas. The company’s home state becomes its fourth U.S. market alongside California, Arizona, and Nevada.

“Our ClearEstate team is quickly expanding across the U.S. and we are looking forward to offering our services to Texas residents and other upcoming markets,” Alex Gauthier, COO at ClearEstate, said. “Losing a loved one can be so devastating, and we believe our compassion-first approach makes the estate settlement process an easier and overall a more manageable experience for those grieving.” 

The company plans to have a nationwide footprint and estimates 700 percent year-over-year growth for Q1 2022. In the coming months, ClearEstate will launch operations in Florida, New York, and New Jersey, bringing its offerings to 38.78 percent of America’s population.

Author

Ben Swanger

Ben Swanger

View Profile
Ben Swanger is the assistant editor for D CEO, the business title for D Magazine. Ben manages the Dallas 500

Related Articles

Image
Business

Three Tips for Exiting Your Business Successfully

Communications maven Gail Cooksey explains why selling to employees can often be the best solution for ensuring continuity.
By Gail Cooksey
Image
Coronavirus

COVID-19 Bulletin

As Dallas County adds more than 1,800 cases, health experts warn the surge will be like "unlike anything we have seen."
By Jenny Rudolph