Apple Bought WaveOne, FedML Got $6M, and More SF Tech News

Catch up on the latest developments from the Bay Area tech sector.
Written by Ashley Bowden
April 4, 2023Updated: April 4, 2023
FedML co-founders Salman Avestimehr (left) and Chaoyang He (right) pose for a photo outside.
FedML was co-founded by CEO Salman Avestimehr (left) and CTO Chaoyang He (right). | Photo: FedML

Several funding rounds and acquisitions hit the West Coast last week, and some big-name companies are making big changes to their businesses. Catch up on the latest with the Built In SF Weekly Refresh.

Apple acquired WaveOne. Tech giant Apple made a stealthy acquisition of a Mountain View-based AI-powered video compressor company called WaveOne. The company’s “content-aware” video compression can work to prioritize what content a viewer sees during lulls in connectivity. The acquisition adds WaveOne’s talent and tech solutions to Apple’s portfolio. [TechCrunch]

Lyft appointed a new CEO. Rideshare company Lyft’s co-founders Logan Green and John Zimmer will step down from their current leadership positions to make way for incoming CEO David Risher. Risher was an early employee of Amazon and a previous manager at Microsoft. The succession will take place on April 17. [Built In SF]

SF Tech Quote of the Week

“Business now needs to connect a sprawling landscape of clouds, remote workers, partner and customer sites and IoT devices. They need to scale these networks with extreme agility. And data has moved away from centralized silos as the business now generates and consumes data at the edge.” — Matt Krieg, VP of sales and marketing at Graphiant

Graphiant pulled in $62M. Equipping companies with a cloud-based private networking solution, edge services provider Graphiant will expand with a fresh round of capital. Graphiant will use its Series B funding led by Two Bear Capital to invest in its go-to-market and partnership resources. [Built In SF]

Cyara acquired Spearline. Cyara operates an automated testing platform for companies’ customer experience platforms, like call centers and AI chatbots. By adding Ireland-based Spearline to its tech stack, Cyara will be able to test experiences across web real-time communications tools like Zoom and RingCentral. [Built In SF]

In more funding news: Orb helps business-to-business software companies develop billing options for their solutions, including subscriptions or usage-based options. Orb raised a $19.1 million Series A to help fuel R&D. [TechCrunch]

FedML pulled in $6 million for its open-source platform that helps fuel collaboration on machine learning tasks. [Business Wire]

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