Weekly refresh: Remitly’s massive raise and $1 billion valuation, and more

by Sophie Kalt
July 15, 2019
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photo via remitly

Remitly raised $135 million, valuing the company at $1 billion. Remitly allows immigrants to send money to their relatives back home through smartphones. It aims to make the transfer process quicker and more affordable by streamlining the process and bypassing fees. This funding allows the company to expand its services. [Built In Seattle]

Wyze Labs and Xnor.ai team up to make person recognition software in security cameras affordable. Amazon's Cloud Camera devices retail for $119.99. Under this new partnership, Wyze Cams would be priced at a competitive $20. [GeekWire]

NowSecure, a cybersecurity company, raised $15 million to double their team. Headquartered in Chicago with a Bellevue office, NowSecure plans to double their 7 person West Coast team. The company is focused on cybersecurity in mobile apps. [Built In Seattle]

AI company Blue Canoe Learning received a $500,000 investment from Qualcomm Ventures. The company, which helps English learners with their pronunciation, won a pitch competition at Qualcomm’s first Female Founders Summit. Blue Canoe will be able to ring the NASDAQ bell as well as join Qualcomm Ventures’ portfolio. [Press Release]

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