Irvine startup Webcloak is nearing a deal with a national retailer to distribute its USB device, which it says allows users to anonymously browse the web and prevent viruses, data theft or identity breaches.
The plug-and-play device, which carries the same name as the company, prevents the internet from identifying or accessing a user’s computer, shielding data with a customized version of what’s called Advanced Encryption Standard, an algorithm endorsed by the National Security Agency for top-secret information.
The product costs about $75 and includes eight gigabytes of storage and 1 gigabyte of free cloud storage.
“We encrypt using your credentials from the device,” founder Marty Dawson said. “We’re really targeting the average person, giving them a high level of security.”
The main features include a secure, encrypted drag-and-drop file system, an encrypted password keeper that allows users to store passwords and account numbers on the device, and a customized browser that encrypts communication and ensures anonymous browsing.
Dawson, who has developed proprietary software for the likes of Microsoft, Intel and Citrix, has been working on the technology since 2010. He’s brought on several former Broadcom engineers in recent months to enhance and add features in the lead-up to consumer launch.
The company has largely been funded through founders’ capital, although it did raise about $61,000 in a Kickstarter campaign last year. That fulfilled orders for about 600 beta versions of the device.
Webcloak, which hasn’t launched an ad campaign or promotions, wants to raise additional money through venture capital or high-net-worth investors, Dawson said.
The company hopes to sell about 2 million units through the national distribution agreement.
Carmaker Gets Technical
Hyundai Motor America Inc.’s new partnership with amazon.com underscores the growing influence of IT specialists in an industry undergoing transformation.
About 20 engineers from the connected car team at Hyundai’s Fountain Valley headquarters spearheaded a new application, which allows customers to unlock doors, turn on headlights, remotely start engines and set cabin temperature, among other prompts, via voice commands through an Amazon Echo speaker.
They worked on the open-source software, connectivity and cloud application with counterparts at Amazon’s Seattle headquarters.
“There’s a lot of connections that need to be made between the two clouds,” Hyundai spokesman Miles Johnson told the Business Journal.
Hyundai’s Blue Link program management team in Fountain Valley and the research and development hub at the South Korean headquarters of parent Hyundai Motor Corp. also lent an assist in development and implementation.
The technology is available to about 350,000 Hyundai owners and just in time for winter, when remote engine starts and cabin temperature prompts get the most use. Hyundai vehicles rack up more than 1 million remote starts every January, Johnson said.
Patent Licenser Strategy Talk
Acacia Research Corp. interim Chief Executive Marvin Key in a recent call with analysts downplayed the Newport Beach-based company’s latest investment as a strategic change, but left the door open to further diversify beyond its core business of patent licensing.
The comments followed a strong third quarter, when it made two convertible $10 million loans to Newport Beach-based startup Veritone Inc. and took an equity stake in the audio and video search analytics provider.
He called the investment “dissimilar” to prior deals and said its “probably premature” that it signals a strategic change, but said the company “will continue to be open to opportunities for deploying capital in situations where we think it will benefit the shareholder.”
Acacia reported third-quarter revenue of $64.7 million and adjusted profits of $15.8 million, both topping Wall Street expectations.
