Juniper Networks invests $2.5M in enterprise tech accelerator Alchemist

Alchemist, which began as an experiment to better promote enterprise entrepreneurs, has morphed into a well-established Silicon Valley accelerator.

To prove it, San Francisco-based Alchemist is announcing a fresh $2.5 million investment ahead of its 20th demo day on Wednesday. Juniper Networks, a networking and cybersecurity solutions business, has led the round, with participation from Siemens’ venture capital unit Next47.

Launched in 2012 by former Draper Fisher Jurvetson investor Ravi Belani, Alchemist provides participating teams with six months of mentorship and a $36,000 investment. Alchemist admits companies whose revenue stream comes from enterprises, not consumers, with a bent toward technical founders.

According to numbers provided by the accelerator, dubbed the “Y Combinator of Enterprise,” 115 Alchemist portfolio companies have gone on to raise $556 million across several VC deals. Another 25 have been acquired, including S4 Capital’s recent $150 million acquisition of media consultancy MightyHive, Alchemist’s largest exit to date.

Other notable alums include Rigetti Computing, LaunchDarkly, which helps startups soft-launch features and drone startup Matternet.

Alchemist has previously raised venture capital funding, including a $2 million financing in 2017 led by GE and an undisclosed investment from Salesforce.

Nineteen companies will demo products onstage tomorrow. You can live stream Alchemist’s 20th demo day here.

Watch Blue Origin’s 10th New Shepard mission launch a science-loaded capsule to space

Blue Origin, the rocket company founded by Amazon’s Jeff Bezos, is about to undertake the 10th launch of its New Shepard launch vehicle, with its capsule chock full of experiments. The launch, which was originally scheduled for a month ago but delayed for various reasons, will take place tomorrow at 6:50 AM Pacific time.

New Shepard is a sub-orbital space-visiting platform, not a satellite-launching one. But it uses a very traditional method of getting to the edge of space compared with Virgin Galactic’s rather involved mothership-spaceship combo, which scraped the very edge of space in its fourth test launch last month.

The rocket shoots straight up, as rockets do, reaches escape velocity, then pops its capsule off the top just before the Karman line that officially, if somewhat arbitrarily, delineates space from Earth’s atmosphere. The capsule, after exhausting its upward momentum, gently floats back to the surface under a parachute.

That’s the plan for Wednesday’s launch, which you can watch live here starting half an hour or so before T-0. But instead of taking a dummy load or “Mannequin Skywalker,” as the company calls its human stand-in during tests of the crew capsule, mission 10 has a whole collection of experiments on board.

There are nine experiments total, all flying through NASA’s Flight Opportunities program. They’re detailed here. Most have already been up in other vehicles or even a Blue Origin one, but obviously repetition and iteration is important to their development.

“The opportunity to re-fly our payload is helping us not only validate and compare data for different flight profiles, but also test modifications and upgrades,” said NASA’s Kathryn Hurlbert, who heads up the Suborbital Flight Experiment Monitor-2 project at Johnson Space Center.

More Flight Opportunities spots will be available on future NASA-sponsored launches, so if your lab has an experiment it would like to test on a sub-orbital rocket, get at the administrators as soon as the shutdown ends.

Okta appoints former Charles Schwab exec to board of directors

Okta, the Nasdaq-listed cloud identity management company, has recruited former Charles Schwab chief marketing officer Becky Saeger to its board of directors. The latest appointment comes one month after the company named Shellye Archambeau, former chief executive officer of MetricStream, to its board.

Saeger becomes Okta’s third female board member. Michelle Wilson, a former senior vice president and general counsel at Amazon, joined the company’s board in 2015. According to data collected by Women on Boards, women hold just over 17 percent of corporate board seats, up from 16.0 percent in 2017.

“A board is there for a few reasons,” Okta co-founder and CEO Todd McKinnon told TechCrunch. “One is to oversee a company’s management and strategy. A company like Okta is in a fast-growing industry and there is too much of a tendency for groupthink. You need someone around you to question the basis of what you’re thinking about.”

McKinnon has spoken openly about his commitment to diversity. In a letter to employees in early 2017, for example, he denounced President Donald Trump’s temporary ban on refugee admissions to the U.S. “Diversity of thought and experience are fundamental values at Okta, that includes religious beliefs, gender diversity, sexual orientation and political views,” he wrote. “No matter who you voted for, our opposition to this policy is not just about our business — it is also about our belief in the American freedoms and protections that have made our country so innovative and accepting of those most in need.”

Okta’s C-suite, though majority male, includes chief customer officer Krista Anderson-Copperman, executive vice president and chief of staff Angela Grady, and chief people officer Kristina Johnson.

Saeger, who McKinnon chose for her marketing and financial services acumen, also sits on the board of E*TRADE, an online broker.

“I am excited about the notion that as this company grows and evolves, the brand can become more visible and more meaningful,” Saeger told TechCrunch.

Headquartered in San Francisco, Okta debuted on the stock exchange in April 2017, closing up 38 percent on its first day of trading.