Tech Watch: Correlix, Axxan, AeroScout score big from the Bronx to Arizona

This edition of TechWatch takes a look at some of the activities of local venture capitalists and the ventures they are currently funding.

By MATTHEW KRIEGER
tech watch 88 (photo credit: )
tech watch 88
(photo credit: )
Following last week's Journey Conference, heavily attended and headlined by Israel's top venture capitalists, this edition of TechWatch takes a look at some of the activities of local VCs and the ventures they are currently funding. Herzliya-based Correlix Ltd., a company backed by Kiryat Gat-based Xenia Venture Capital that is a leader in Latency Intelligenceâ„¢ solutions that monitor and analyze trading execution and market data flows in real time, announced last week it had secured funding from Vernon & Park Capital, L.P., a private equity firm that specializes in the exchanges and financial markets sector. Correlix will use the new financing to further enrich its Latency Intelligence solutions and to expand globally to meet the demands of its growing, global customer base. Correlix, which just two months ago raised $8 million in a funding round led by Sequoia Capital, attracted additional financing from Vernon & Park Capital. Correlix's Latency Intelligence solution enables pinpointing performance optimization points to reduce trade execution and market data latency, saving precious milliseconds on every trade. Vernon & Park Capital joins the existing investor group of Sequoia Capital, Genesis Partners, Blumberg Capital and Xenia Ventures. One of the country's most respected and well-known VC firms, Gemini Israel Funds, based in Herzliya, has also had a few of its portfolios in the news recently. The Bronx Regional Health Information Organization, which went "live" earlier this year, thereby becoming the first RHIO in New York City to begin exchanging patient data, represents 80 percent of the providers in the Bronx, a borough of 1.36 million residents. According to Hod Hasharon-based dbMotion, the company whose technology powers the Bronx RHIO's platform, as of last month, the Bronx RHIO has received consent forms from more than 4,000 patients, and has trained 79 "early adopter" clinicians. There are now 55 care locations in the Bronx whose patients' clinical data can be accessed with appropriate patient consent. These inpatient, outpatient and long term care locations treat 500,000 patients. An additional 70 care sites belonging to other Bronx RHIO participants have "view only" access to patient data. The initial patient data being exchanged by the Bronx RHIO's hospitals, out patient clinics, physicians' offices, nursing homes and home care agencies, includes: laboratory results, prescribed and dispensed medications, diagnoses, procedures, encounters, and demographic information. If patients do not sign the consent form, the Bronx RHIO cannot exchange their private health information and physicians will not have a complete picture of the patient's condition and prior treatment. Once a patient signs a consent form allowing the Bronx RHIO participants access to his or her private health information, the Bronx RHIO has a number of policies and administrative checks to ensure the information remains secure. dbMotion, funded by Gemini Israel Funds, is provides healthcare information integration software that facilitates interoperability and health information exchange (HIE) for health information networks and integrated healthcare delivery systems. Healthcare organizations, health information networks (HINs) and regional health information organizations (RHIOs) use the dbMotion Solution to share medical data both internally and externally with other healthcare organizations. Tel Aviv-based Axxana, another Gemini Israel portfolio company, emerged from "stealth mode" last month at Storage Networking World with the introduction of its unique Enterprise Data Recording (EDR) technology. Axxana's innovation is the first to enable 100% disaster recovery with no data loss, over any geographical distance, and with significant cost savings. Axxana's first EDR system combines the data-recovery certainties of synchronous replication with the distance and cost advantages of asynchronous replication. The result is a complete shift in the way enterprises will architect their data-center strategies. Until today, existing data protection methods - such as backup/restore, replication or CDP - have been bound by the same limitation: all data that required protection had to be transported out of the primary data center prior to a disaster. In contrast, Axxana's technology completely protects enterprise data inside a "disaster-proof" EDR device, an equivalent to the indestructible "black box" flight-data recorders used to recover post-crash aircraft data. Innovation around enterprise data protection has historically focused on removing data from the primary location as quickly and as completely as possible for remote safekeeping. Axxana's approach is the first to view data removal alone as expensive and inherently incomplete. Instead, enabled by an advanced collection of highly ruggedized storage, electronics, and materials technologies, Axxana's EDR actually brings the data "through the disaster," ensuring the full survivability of otherwise lost data within the enterprise site itself. The result is rapid post-disaster application recovery, with no data loss whatsoever. The technology also expands the scenarios under which synchronous replication protects data, such as an on-site communication link failure or regional disaster. Finally, AeroScout, Inc., based in Rehovot, the leading provider of Unified Asset Visibility for improving operational efficiency and quality, announced last week a new solution that combines GPS with Wi-Fi. The innovative solution enables accurate asset tracking and management in very large outdoor environments, and has been selected by the 309th Aerospace Maintenance and Regeneration Group (AMARG) to help improve productivity and operations at a 110 million square-foot outdoor facility at the Davis-Monthan Air Force Base in Arizona. The new GPS and Wi-Fi solution builds on AeroScout's Unified Asset Visibility (UAV) offerings and strategy of combining multiple data sources and technologies into one Wi-Fi-based system. The solution includes mobile, battery-powered tags that use both GPS to determine location in any outdoor environment and standard Wi-Fi to transport asset location and other valuable information to the customer's network. The GPS and Wi-Fi combination delivers a cost-effective solution for the 309th AMARG, in part by leveraging its existing Wi-Fi access points and network. The 309th AMARG stores thousands of aircraft and aircraft parts at an outdoor facility at Davis-Monthan Air Force Base in Tucson, Arizona that covers 2,600 acres. In order to perform periodic maintenance on the inventory and quickly fill aircraft orders from various military branches, workers must locate specific aircraft, parts and support equipment - a difficult and time-consuming process. The 309th AMARG will initially deploy 1,000 AeroScout GPS Wi-Fi tags. The solution will leverage the facility's existing Wi-Fi network and 42 access points with high gain antennas, which are also used for data communication. Using AeroScout's MobileView 4.0 software, staff will be able to easily search for, locate and manage essential equipment. AeroScout is funded in part by the Herzliya-based VC firm Greylock Partners. mattkrieger@gmail.com