LocalGlobe, the London seed-stage VC, is raising a new fund aimed at Series B

LocalGlobe, the seed-stage venture capital firm founded by father and son duo Robin and Saul Klein, and one of the most active firms in the U.K., is gearing up to launch a new separate fund aimed at Series B.

According to sources — and since confirmed by LocalGlobe — the VC firm is raising a sister fund to formally back the most promising startups in its portfolio to help them scale.

It isn’t unheard for LocalGlobe to follow on after seed during later funding rounds, having done so in successful companies such as Zoopla and TransferWise. However, the thinking here is to have a separate fund to make this more common, and provide LPs a way to double down on LocalGlobe’s most promising bets.

The new fund is to be called “Latitude,” whist a recent regulatory filing mistakenly and inadvertently surfaced “Senderwood,” the holding company of LocalGlobe and Latitude. It is not known how much Latitude is looking to raise from LPs, although this is aimed at Series B so I’d expect it to be larger than LocalGlobe’s most recent £75 million fund.

TechCrunch has also learned that Julian Rowe has joined Latitude as a Partner from JP Morgan, where having moved back from Silicon Valley he latterly was EMEA Head of Internet and Digital Media and worked closely with successful U.K. scale-ups like Farfetch and Deliveroo.

LocalGlobe’s Robin Klein will also be heavily involved in the new Series B fund, formalising a role he has increasingly taken at LocalGlobe. Saul Klein is the third member of the Latitude team.

LocalGlobe issued the following statement, confirming the existence of Latitude, but declined to comment further:

“LocalGlobe’s new and existing investors are excited about the opportunity to invest in UK tech companies, both at seed and as they scale up, justifiably since the U.K. has now produced 60 unicorns or 35% of the total from Europe and Israel. We are exploring the technicalities of laying the foundations of a new fund, to be known as Latitude, for launch in 2019. This will enable us to invest in the most successful companies that are coming through from previous LocalGlobe funds at Series B and beyond. Initial conversations with investors have been going well and they are excited about the prospect of a new way to invest in some of the UK’s best early stage tech companies.”

Update: Oscar Williams-Grut at Yahoo Finance reports that Latitude’s debut fund is looking to raise $200 million (£156.5m).

Pound falls steeply as Brexit resignations rock the government

Sterling drops to about $1.28 against the dollar and falls by 1.5% against the euro

The pound fell steeply against major international currencies on Thursday as Theresa May’s government was rocked by multiple resignations over her Brexit deal.

Sterling fell from above $1.30 to about $1.28 against the US dollar by about midday, a drop of about 1.5%. Against the euro, sterling fell by 1.5% to €1.1317.

Related: Pound falls sharply as May faces mounting pressure over Brexit plan – business live

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Pound falls steeply as Brexit resignations rock the government

Sterling drops to about $1.28 against the dollar and falls by 1.5% against the euro

The pound fell steeply against major international currencies on Thursday as Theresa May’s government was rocked by multiple resignations over her Brexit deal.

Sterling fell from above $1.30 to about $1.28 against the US dollar by about midday, a drop of about 1.5%. Against the euro, sterling fell by 1.5% to €1.1317.

Related: Pound falls sharply as May faces mounting pressure over Brexit plan – business live

Continue reading…

Mozilla adds website breach notifications to Firefox

Mozilla is adding a new security feature to its Firefox Quantum web browser that will alert users when they visit a website that has recently reported a data breach.

When a Firefox user lands on a website with a breach in its recent past they’ll see a pop up notification informing them of the barebones details of the breach and suggesting they check to see if their information was compromised.

“We’re bringing this functionality to Firefox users in recognition of the growing interest in these types of privacy- and security-centric features,” Mozilla said today. “This new functionality will gradually roll out to Firefox users over the coming weeks.”

Here’s an example of what the site breach notifications look like and the kind of detail they will provide:

Mozilla’s website breach notification feature in Firefox

Mozilla is tying the site breach notification feature to an email account breach notification service it launched earlier this year, called Firefox Monitor, which it also said today is now available in an additional 26 languages.

Firefox users can click through to Monitor when they get a pop up about a site breach to check whether their own email was involved.

As with Firefox Monitor, Mozilla is relying on a list of breached websites provided by its partner, Troy Hunt’s pioneering breach notification service, Have I Been Pwned.

There can of course be a fine line between feeling informed and feeling spammed with too much information when you’re just trying to get on with browsing the web. But Mozilla looks to sensitive to that because it’s limiting breach notifications to one per breached site. It will also only raise a flag if the breach itself occurred in the past 12 months.

Data breaches are an unfortunate staple of digital life, stepping up in recent years in frequency and size along with big data services. That in turn has cranked up awareness of the problem. And in Europe tighter laws were introduced this May to bring in a universal breach disclosure requirement and raise penalties for data protection failures.

The GDPR framework also generally encourages data controllers and processors to improve their security systems given the risk of much heftier fines.

Although it will likely take some time for any increases in security investments triggered by the regulation to filter down and translate into fewer breaches — if indeed the law ends up having that hoped for impact.

But one early win for GDPR is it has greased the pipe for companies to promptly disclose breaches. This means it’s helping to generate more up-to-date security information which consumers can in turn use to inform the digital choices they make. So the regulation looks to be generating positive incentives.

Urban Massage re-brands to ‘Urban’ as it launches wellness services beyond massage

Urban Massage, the London-headquartered startup that lets you book a vetted massage therapist “on-demand”, is expanding into new wellness services in addition to changing its name.

Now simply called Urban, the company, which operates in several U.K. cities along with Paris, is adding the ability to book an expert nail technician, GOsC-regulated osteopath, or skin therapist. It will utilise the same logistics tech and app experience that enables therapists to be booked with as little as an hour’s notice.

Founder Jack Tang tells me the move into new wellness categories forms part of a wider strategy to build Europe’s leading “holistic wellness” platform. This will see the company add fitness, yoga and other mental wellbeing-focused activities in the near future, including meditation.

Further ahead, Urban has plans to integrate digital therapy services, such as counselling.

Urban founder Jack Tang

Urban founder Jack Tang

Tang says that since Urban launched back in 2014, it has provided 389,000 treatments, and today sees a 42 percent repeat rate for bookings. The company claims 101,000 active users, and 2,500 active therapists on its platform. Its wellness practitioners have collectively earned £16.4 million via Urban in the past four years, and, I’d suggest, in a much fairer deal than the “self-employed” terms often offered to massage therapists by hotels or spas.

As a side note, I’m a user of Urban, and book a regular massage after I injured my neck and shoulder earlier this year. Tang says this is pretty common, in that many people only embrace massage therapy to combat pain, but afterwards discover the longer term wellness benefits, especially in terms of managing stress within a major city.

He also says that customers were asking for additional wellness category products. Notably, many of Urban’s registered massage therapists have related expertise and treatment skills and also wanted a way to utilise them within a familiar platform.

Since TechCrunch last covered Urban, a lot has happened, including an announced funding round: In August 2016, Urban closed £3.5 million in a Series A led by Felix Capital. “We got on and focused on delivering best experiences to our customers,” says Tang, refreshingly. With no current neck pain, I reply that this was probably the right decision.

In February, Urban acquired two competitors: Milk Beauty, on the consumer side, and B2B focussed Freauty to bolster its corporate wellness offering. Most recently, the company raised a further £3.5 million in an equity crowdfunding campaign on Seedrs. This saw Urban add 800-plus new investors, the majority of whom are current customers, therapists, and staff, along with existing VC backers.

And this March, Urban launched “Urban Curates,” a collection of at-home treatments in collaboration with top beauty and wellness brands including the likes of Estee Lauder Companies, and Unilever Prestige. This, Tang explained, is viewed as a new retail channel for brands, whereby consumers want to make “experience-led” purchases as an alternative to the high street.

Legrand acquires smart home startup Netatmo

French hardware startup Netatmo got acquired by the biggest manufacturer of switches and sockets in the world, Legrand. Terms of the deal are undisclosed.

Legrand and Netatmo already collaborated together on some products. Back in 2017, the company announced that it would work with industrial groups to connect everything in your home, starting with Legrand and Velux.

With Legrand’s “Céliane with Netatmo” switches and power outlets, you could build a house with a smart electrical installation from day one. This way, you could have a wireless master switch near your entrance, activate some outlets using Amazon Alexa and control your home from Messenger.

“Our strategy is the connected home. But there are some connected features that we can’t sell to consumers because those products are sold to professionals directly,” Netatmo founder and CEO Fred Potter told me at the time of the original announcement.

Netatmo’s team is going to be integrated into Legrand. Legrand plans to release more connected objects in the future. Netatmo founder and CEO Fred Potter is becoming CTO of Legrand’s research & development division. According to the announcement, Netatmo was generating $51 million (€45 million) in annual revenue.

Netatmo’s first product was a weather station. It works over Wi-Fi and was one of the first weather stations that you could check from your phone.

More recently, the company released security products, such as a connected camera that identifies faces on the device itself, a similar camera that works outdoor and a connected smoke alarm. Some people called Netatmo the “Nest of Europe” as the company also released smart thermostats and radiator valves.

Pirate Studios raises $20M from Talis Capital for its ‘self-service’ tech-enabled music studios

Pirate Studios, the music technology company that operates fully automated and self-service 24 hour music studios, has secured $20 million. The investment was led by Talis Capital, the London-based VC family office.

Talis was already an existing backer of Pirate Studios, with Talis’ Matus Maar also named as a co-founder of the startup. Other investors include Eric Archambeau (Spotify investor and ex-partner at Benchmark and Wellington Partners), Bart Swanson of Horizons Ventures, and partners of Gaw Capital, the $20 billion Hong Kong-headquartered proptech fund.

The new funding will enable Pirate Studios to continue to expand across the U.K., Germany and the U.S., where it has been building what the startup describes as a community of musicians, DJs, producers and podcasters who need access to professional rehearsal, production and recording studios at affordable rates. The company charges as little as £4 per hour, depending on what kind of music studio space and facilities you book.

However, what really sets Pirate Studios apart from a lot of existing rehearsal rooms and music production and recording studios, is that the startup is employing a lot of tech to power the logistics around its service and, in theory, make it a lot more scalable. This includes online booking, 24 hour keycode access, and other IoT controls for managing facilities.

Perhaps even smarter, Pirate Studios offers “automated recording” and live streaming from many of its studios. This means that bands or DJs rehearsing in one of the company’s rooms can easily record their session via built in room mics and other inputs, and the studio’s cloud software will handle mixing and mastering afterwards. Likewise, rooms are set up to be able to video and audio stream sessions, too.

Both options tap into the YouTube, SoundCloud, and Spotify generation’s unstoppable appetite for more content from their favourite upcoming and established acts, as well as the dreaded music industry’s favourite new metric: how much social media reach an act has, which can in turn make or break a recording contract opportunity or the chance to get booked at larger, more lucrative live events.

I say all of the above as someone who was previously in quite a serious band and used to book rehearsal rooms on a regular basis. I’m also still in touch and collaborating with a number of gigging musicians and professional acts. However, during the last ten years, I’ve seen quite a few studios in London go out of business as property owners look to cash in, and even though there is something a little WeWork about Pirate Studios’ model (and being backed by relatively large amounts of VC cash at this stage) which makes me slightly uneasy, overall I’m very bullish on what the company offers.

Without a place to practice, hone your craft, in addition to somewhere to perform, rock ‘n’ roll really would be dead.

To that end, in just three years, Pirate has grown to 350 studios in 21 locations, including London, New York, and Berlin.

Cue statement from David Borrie, co-founder and CEO of Pirate Studios: “When we founded Pirate Studios our dream was to create innovative spaces to support emerging talent. We want to see music thrive and help musicians get their music out to their fans, through whatever route they think is most appropriate. We are building both the physical space to create, as well as the technology to record and share, that puts power back into the hands of musicians in a period when the digitisation of music continues to radically upset the old order of this industry”.

iBanFirst raises $17 million to help companies move money around the world

French startup iBanFirst is raising another $17 million (€15 million) from Serena Capital and Breega Capital, with existing investor Xavier Niel putting more money as well.

iBanFirst solves a very specific problem. If you operate a company that works with suppliers all over the world, chances are you waste a ton of money exchanging and sending money. iBanFirst wants to make currency conversion as easy as transferring money from your savings account to your current account.

You first send money from your corporate bank account to your iBanFirst account. You can then convert and hold money in 28 currencies. iBanFirst shows you the interbank exchange rate and how many fees you’ll pay. But you’ll likely pay way less than using your traditional bank account.

With 100 employees and 2,000 clients, iBanFirst now focuses on clients who transfer at least €100,000 per year. “We’ve already done a €50 million transfer,” iBanFirst founder and CEO Pierre-Antoine Dusoulier told me.

After that, you can send money to a client, a supplier, a partner, etc. It’ll look like a local transfer and you’ll save money on fees.

Many companies already do that. But iBanFirst goes one step further by giving you banking information for each currency. If you’re an iBanFirst customer, you can share a Turkish IBAN, an American account number or Chinese banking details. It’s easier to get paid from all your clients.

With your French IBAN, the startup is doing something special. “We realized that some IBANs had a letter here and there,” Dusoulier said. “We called SWIFT, and they told us that we could put whatever we wanted for 10 characters.”

iBanFirst took advantage of that to create a sort of domain names for IBANs. If you want, you can put your company name in your banking information.

The company wants to add more currencies and more features. Thanks to the upcoming European regulation, you could imagine connecting to your regular corporate account from the iBanFirst interface to initiate a transfer. That would be much more straightforward than transferring money to iBanFirst before using it.