Insight Partners | June 27, 2022
Global software investor Insight Partners announced the establishment of its Government Advisory Board, a group of government and defense leaders whose combined expertise will provide a valuable, actionable network for Insight's portfolio of software startup and ScaleUp companies. With a 25+ year legacy of investing in software, Insight Partners already has a long history of investing in government across federal, defense, state, and local sectors (including K12). The Government Advisory Board will advise Insight Partners about important public sector investment opportunities and risks, and bring their deep experience to the broad set of portfolio companies that are working with government customers.
The government, across all sectors, needs the next generation of great software companies to better serve constituents, modernize government, and deliver services more effectively and securely. With investments in companies from all corners of the globe, Insight has always maintained a belief that great software companies can originate from anywhere, and with the right strategic partner, expand rapidly into new markets. The Government Advisory Board allows Insight to bring the perspectives of former government leaders to provide strategic counsel to portfolio companies—so they can be better equipped to support government agencies across a range of important missions.
Insight Partners' Government Advisory Board is made up of preeminent leaders with many decades of experience in the U.S. government, including:
Secretary Ash Carter, the 25th United States Secretary of Defense, and Director of the Belfer Center for Science and International Affairs at Harvard University's John F. Kennedy School of Government.
Honorable Sue Gordon, former Principal Deputy Director of National Intelligence, former Deputy Director of the National Geospatial-Intelligence Agency, and career Central Intelligence Agency official.
Lieutenant General (ret.) Jack Shanahan, former Director of the U.S. Department of Defense (DoD) Joint Artificial Intelligence Center (JAIC), and first Director of the Algorithmic Warfare Cross- Functional Team (Project Maven).
Essye Miller, former Principal Deputy Chief Information Officer and CISO of the U.S. Department of Defense.
Honorable Dr. Will Roper, former Assistant Secretary of the Air Force for Acquisition, Technology and Logistics, and founding Director of the Pentagon's Strategic Capabilities Office.
Nicole Wong, former Deputy U.S. Chief Technology Officer in the Obama Administration, Vice President and Deputy General Counsel at Google, Twitter's Legal Director for Products, and inaugural member of the Cybersecurity and Infrastructure Security Agency (CISA) Advisory Committee.
General (ret.) Joe Votel, former Commander of Central Command (CENTCOM) and Special Operations Command (SOCOM), and President and CEO of Business Executives for National Security (BENS).
We're honored to launch a Government Advisory Board of leaders who bring a diverse set of experiences across government and administrations at the most senior levels. They are passionate about supporting entrepreneurs and believe commercial software is key to modernizing government in its important missions. Insight believes there is significantly more opportunity to invest in the software solutions transforming the government sector, and the Government Advisory Board has the opportunity to shape and strengthen our success as we continue to scale up in government and defense."
Richard Wells, Managing Director at Insight Partners
"The ability of the United States government to deliver on its important missions—from national defense to Veterans health care to local K12 education—increasingly rests on government agencies being able to find, try, and use great commercial software," said Secretary Ash Carter. "That's why I rebuilt the Defense Department's links closer to the proverbial Silicon Valley when I was Secretary of Defense—via the creation of the Defense Innovation Unit, Defense Digital Services, and the Defense Innovation Board—and why I'm so dedicated to working with Insight Partners and their portfolio of leading software companies."
"I'm enthusiastic about the opportunity to work with these accomplished, inspiring colleagues at Insight Partners to help companies advance their capabilities and the government achieve its aims," said Sue Gordon.
"After my experiences running two AI 'startups' in the Department of Defense, I am honored to join my esteemed colleagues on Insight Partners' government advisory board," said Lt General (ret.) Jack Shanahan. "We are excited by the opportunity to work closely with Insight Partners in their quest to find the country's best technology companies and help solve the government's most pressing challenges."
"Insight Partners is very thoughtful and deliberate in identifying companies with innovative solutions and helping them scale to meet the critical needs of our nation and the world. I am excited to partner with the other amazing Government Advisory Board members to support Insight," said Essye Miller.
"Digital technology is driving the world at an accelerated rate. Yet the U.S. government keeps falling further behind. I'm very excited to work with Insight Partners' to navigate challenges of working with the government at software speeds," said Will Roper.
"Government—as a customer, funder, and regulator—needs to be working with the best software companies, to promote economic growth, fairness, and innovation," said Nicole Wong. "I'm delighted to join the Insight Partners Government Advisory Board, and am excited to work with the team at Insight and the word-class entrepreneurs they support."
"I am really excited to work with Insight Partners as they try to help these highly innovative companies that are so important to helping the US maintain its competitive edge," said General (ret.) Joe Votel.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of February 24, 2022, the closing of the firm's recent fundraise, Fund XII, brings Insight Partners' regulatory assets under management to over $90B. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners supports great software leaders at all stages of their growth journey, from first investment to IPO.
the National Cybersecurity Consortium | February 18, 2022
The National Cybersecurity Consortium (NCC) is pleased to announce that the Government of Canada has appointed the NCC to lead the Government of Canada's new Cyber Security Innovation Network (CSIN). In a statement issued today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, stated that the NCC will receive up to $80 million over four years towards a potential total project well above $160 million, including significant cash and in-kind contributions from supporting organizations.
Led by the NCC, CSIN will be an innovative and highly collaborative national network that will enhance research and development, increase commercialization, and develop skilled cybersecurity talent across Canada. CSIN will fund high-impact projects in these domains, to be delivered by collaborations between universities and colleges, private sector firms of all sizes, and public sector and not-for-profit organizations, from all regions of Canada.
In applying to the Government of Canada to lead CSIN, NCC worked collaboratively with more than 140 researchers from 35 post-secondary institutions across Canada, 46 companies of all sizes, and 34 not-for-profit organizations, governments and governmental organizations. Working in close collaboration with all stakeholders, NCC will strive to build CSIN as a major national platform to advance Canadian leadership in cybersecurity, and to bring together many stakeholders in advancing this goal. CSIN will also prioritize the advancement of diversity in Canadian cybersecurity through its funded programs.
"We are thrilled that the Government of Canada has appointed the NCC to lead this important program. We believe that the new network will become a major force for the advancement of cybersecurity innovation in Canada. As a nation-wide network, CSIN is poised to meaningfully advance cybersecurity across all sectors and in all regions of Canada, opening a new chapter of collaborative innovation in Canadian cybersecurity. We are looking forward to working closely with stakeholders as we build this national network over the months ahead." The NCC Executive Group, in alphabetical order:
Dr. N. Asokan, Executive Director, Cybersecurity and Privacy Institute, University of Waterloo
Dr. Ken Barker, Director, Institute for Security, Privacy and Information Assurance, University of Calgary
Dr. Mourad Debbabi, Director, Security Research Centre, Concordia University
Charles Finlay, Executive Director, Rogers Cybersecure Catalyst, Ryerson University
Dr. Ali Ghorbani, Director, Canadian Institute for Cybersecurity, University of New Brunswick
About the National Cybersecurity Consortium
The National Cybersecurity Consortium is a federally incorporated not-for-profit organization established in 2020 by centres of expertise in cybersecurity at five Canadian universities (in alphabetical order): Concordia University, Ryerson University, University of Calgary, University of New Brunswick and University of Waterloo. The Consortium's mandate is to link Canada's cybersecurity and privacy training, innovation and commercialization capacities within a national consortium, to harness a network effect that will significantly advance innovation and talent development and increase cybersecurity-related economic activity in Canada. The Consortium is open to membership by universities and colleges; private sector firms of all sizes; and public sector organizations in all sectors.
Citizens Financial Group | March 25, 2022
Citizens Financial Group, Inc. and Investors Bancorp, Inc. announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency to complete the previously announced acquisition of Investors.
The acquisition is anticipated to close by mid-April 2022, pending satisfaction of customary closing conditions. After closing, over the course of 2022, Citizens will provide Investors’ customers with comprehensive information relating to the anticipated conversion of their accounts to Citizens, targeted to be completed in the first quarter of 2023. Until conversion, customers will continue to be served through their respective Citizens and Investors branches, websites and mobile applications.
We are pleased to have received regulatory approval to complete the acquisition of Investors, which closely follows the acquisition of HSBC’s East Coast branches. The addition of these two businesses strengthens our franchise across the Northeast, significantly adding to our growth potential. We have been carefully planning for a successful integration to ensure that we continue to provide excellent customer service while making a strong entrance into the New York City metro and New Jersey regions.”
Bruce Van Saun, Chairman and Chief Executive Officer of Citizens
“We are excited about the planned merger with Citizens. Our customers, colleagues, communities and stockholders will benefit from Citizens' scale, capabilities and commitment to excellence,” said Kevin Cummings, Chairman and Chief Executive Officer of Investors.
Key members of Investors' management team are expected to join Citizens, ensuring business and client continuity. Upon closing of the transaction, Mr. Cummings and Michele N. Siekerka, who currently serve on the board of directors of Investors, are expected to join Citizens’ board of directors. Domenick Cama, Investors’ President and Chief Operating Officer, will join Citizens as the New York City and New Jersey Market President and Co-Head of Integration.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $188.4 billion in assets as of December 31, 2021. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of nearly 3,000 ATMs and more than 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities.
About Investors Bancorp, Inc.
Investors Bancorp, Inc. is the holding company for Investors Bank with assets of approximately $28 billion as of December 31, 2021 and operated from its corporate headquarters in Short Hills, New Jersey and 154 branches located throughout New Jersey, New York and Pennsylvania.
OmniSync | February 25, 2022
OmniSync Incorporated announces the successful completion of the period of performance under its second innovation contract from the US Air Force, fully meeting the objectives of both contracts.
OmniSync is a San Diego-based high-growth tech startup that uses a combination of AI/ML-powered research tools, process workflow automation, and services to help democratize access to government grant and contract funds. Its flagship product, TurboSBIR is used by hundreds of deep tech and life science startups to access Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) grants and contracts to fund their product development pipelines.
The company itself has now been awarded two innovation contracts from the US Air Force's AFWERX SBIR/STTR program – these are highly competitive awards that encourage the development of innovative dual-use technologies that while solving an important defense need, also have commercialization potential. With its previous innovation contract for matching teams and capabilities with defense needs progressing towards later Phases of development and implementation, OmniSync recently completed execution on its second contract, awarded for streamlining a crucial part of the contract creation/solicitation process itself.
"Federal grant and contract systems are largely opaque on both sides of the table – most applicants are unaware of how to position their capability to solve or contribute to a government need or focus area, while government grant makers and contract creators' awareness of market capabilities and state-of-the-art is limited by historic contractor engagements and information submitted by a biased pool of repeat applicants. OmniSync intends to make requirement-research, grant/contract solicitation, application, awarding and acquisition processes more objective, data-driven, rapid, and cost-efficient."
Dr. Rupak Doshi, CEO of OmniSync Incorporated
As a requirement of the AFWERX SBIR/STTR Phase I contracts, awardees are meant to engage in technical feasibility studies that result in securing interest from an Air Force stakeholder to serve as a potential customer for later Phases of development and implementation. OmniSync has successfully received signed interest from several distinct stakeholders for both projects that are now advancing to later Phases.
OmniSync's success in the SBIR/STTR program follows its successful fundraise from venture capital investors. The company is backed by the ex-Googler founded venture studio, Launch Factory, and premier accelerators, Capital Factory and EvoNexus. Read more about OmniSync.