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Cercli raises $4m to rev up unified payroll and employee data platform

Ana Mary Joseph
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Cercli raises $4m to rev up unified payroll and employee data platform
  • Silicon Valley-basedDubai-based startup empowers businesses in MENA to manage their local payroll, remote contractors, employer of record, HR, onboarding and more.
  • Cercli unites all back-office functions through a single platform, replacing disconnected individual systems, so companies maintain data integrity and a source of truth across their greatest asset – their people.

Dubai based payroll and employee data platform- Cercli – has raised $4 million in a seed round led by Silicon Valley-headquartered Afore Capital. This milestone deal marks Afore’s MENA debut, with the investment being allocated from its $150 million fund III.

Cercli’s seed round also had participation from COTU Ventures, Y Combinator and Rebel Fund, alongside the likes of Karim Atiyeh (Ramp), Sebastian Mejia (Rappi), Tony Dong (Rippling), Tony Jamous (Oyster), Allison Pickens, the founders and executives from unicorns Kitopi, Careem and other notable MENA-based startups.

Cercli founders Akeed Azmi and David Reche previously scaled and managed teams at Kitopi and Careem, two of the region’s largest unicorns, where they recognised the need for a comprehensive solution to manage an international workforce experiencing hypergrowth.

“The cost of workforce-related compliance is one of the biggest challenges for C-suite executives across our region. We built Cercli to replace multiple isolated systems as the singular modern payroll and employee data platform, empowering businesses to manage their local payroll, remote contractors, employer of record, HR, onboarding and more” Akeed Azmi, co-founder, Cercli, said.

With a $2 billion market opportunity in MENA for payroll alone, and businesses facing burdensome compliance costs due to human error, Cercli is on a mission to transform how businesses manage their workforce through one single platform.

Meeting compliance requirements

Enterprises in the region have been challenged with the use of spreadsheets and fragmented legacy software for individual tasks, leading to fraud, data privacy, payroll errors, delays and other issues.

Cercli unites all back-office functions through a single platform, replacing disconnected individual systems, so companies maintain data integrity and a source of truth across their greatest asset – their people.

Since launching earlier in 2024, Cercli has grown by 25 per cent month on month and has paid out over $23 million in clients’ employee salaries across 31 countries.

 “Akeed and David are building to solve for one of the region’s largest challenges – managing a global workforce while meeting compliance requirements. This investment is reflective of our recognition of the massive untapped potential of the MENA region, and the possibilities that game changing founders are enabling here,” Anamitra Banerji, Co-founder & Managing Partner, Afore Capital, said.

Sally Wentworth named President and CEO of Internet Society

TCN Bureau
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Sally Wentworth named President and CEO of Internet Society
  • She aims to ensure that people everywhere have access to affordable, reliable, and resilient Internet.

The Internet Society, a global charitable organisation advocating for an open, globally connected, and secure Internet, announced the appointment of Sally Wentworth as the new President and CEO, effective from September 1, 2024.

She will lead both the Internet Society and the Internet Society Foundation’s efforts to ensure that people everywhere have access to affordable, reliable, and resilient Internet and an Internet experience that is secure and protects them online.

Wentworth previously served as Managing Director of the Internet Society and Vice President of Policy, where she led the Internet Society’s work in engaging with stakeholders and developing and promoting policies that support and enable an open, globally connected Internet. Sally is particularly passionate about building bridges between Internet technical experts and policymakers.

Deepening the connections

Before joining the Internet Society in 2009, Sally held positions at the White House Office of Science and Technology Policy as Assistant Director for Telecommunications and Information Policy, and at the US Department of State as an Economic Bureau Foreign Affairs Officer.

“I am honoured and excited to take on the CEO role at such a crucial time for the Internet. I look forward to continuing our momentum in advancing our mission to ensure that the Internet remains a powerful tool for positive change,” Sally Wentworth, President and CEO, Internet Society, said.

Sally Wentworth holds a Master’s degree in International Political Economy from Claremont Graduate University and a Bachelor’s degree in Political Science from Westmont College. She is based in Dayton, Ohio.

“In my time ahead as President and CEO, I plan to deepen the connections and engagement between and across our community. If we are to achieve our vision that the Internet is for everyone, we need to urgently join together to be the voice that the Internet needs. Governments are seeking to regulate the Internet. The digital divide is leaving people behind. Misinformation is being spread. And “the Internet” is being blamed for so many societal issues,” Sally said.

Moreover, she said that the industry needs to join together to address these global challenges, to advocate together, to promote solutions, to bring hope, and to share the stories of impact this community is having across the world.

Hacker offers to sell database of Kuwait’s Boutiqaat

TCN Bureau
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Hacker offers to sell database of Kuwait’s Boutiqaat
  • Leaked database includes sensitive user information such as IDs, names, emails, phone numbers, addresses, and more.

A threat actor is claiming to sell complete database of Kuwaiti beauty e-commerce platform Boutiqaat.com on the dark web.

According to Daily Dark Web, the leaked database reportedly includes sensitive user information such as IDs, names, emails, phone numbers, addresses, and more. The actor offers the database for $1,500, with full access priced at $2,500.

Boutiqaat, which has grown to a valuation of $500 million, serves as one of the largest social e-commerce platforms in the Middle East with three million users.

A1RWATER to create over 100,000 litres of clean water daily from air

TCN Bureau
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A1RWATER to create over 100,000 litres of clean water daily from air
  • Aims to help address UAE’s anticipated 30% rise in water demand over the next decade.

Abu Dhabi headquartered A1RWATER is set to produce over 100,000 litres of pure water daily, directly from air humidity, at its facility in Dubai Industrial City.

The new DIC facility, set to be fully operational in the fourth quarter of  2024, will house 50 ‘A1R3000’ units, each producing 3,000 litres of water per day and translating to a significant daily output of roughly 120,000 litres.

“Water is the one resource that connects us all. Our mission is to redefine how the world accesses this vital resource, starting from a single drop to entire cities. With the support of our partners and stakeholders, we are just beginning to scratch the surface of what’s possible,” Alex Guy, Founder & CEO of A1RWATER, said.

Dave Cupit, Global COO at AIRWATER, said the UAE has elevated itself globally by identifying gaps and delivering solutions that fill them over the past fifty-plus years.

The company has already formed key partnerships with entities including Jotun, ADNOC, Hilton Hotels & Resorts, and Emirates Palace.

 “In the UAE, fresh groundwater levels have decreased over the past ten years by 76 per cent, and water demand is expected to increase 30 per cent over the next decade. We are here to shift the trajectory of water access in the UAE through our ability to generate clean water directly from the air—no infrastructure, no plastics, just pure, sustainable water,” Rob Bain, Managing Director, UAE, said.

Hackers target government agencies the most in first half of 2024

Naushad K. Cherrayil
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Hackers target government agencies the most in first half of 2024
  • Largest number of leaks of confidential information occurs in government agencies (13%), IT companies (12%), and industrial companies (11%).
  • Cybercriminals shift focus from personal data to stealing company credentials and trade secrets.
  • Ransomware is the most popular type of malware used by cybercriminals to steal confidential information.

Government agencies were the most frequent victims of attacks resulting in the leakage of confidential information in the first half of the year.

According to Positive Technologies’ first study on data breaches, government agencies accounted for 13 per cent of total attacks in the first half, which is three per cent higher compared to the same period last year.

Moreover, leaks from government agencies also occurred due to data breaches in the systems of contractors and counterparties.

On dark web forums, the largest number of offers with data from government agencies were from countries in Asia (33 per cent), Latin America and the Caribbean (18 per cent), and the Middle East (16 per cent) due to the fact that these regions are targets of APT groups that primarily attack government organistions.

“Attackers have a pronounced interest in confidential data because of the opportunity it presents for significant financial gain. For example, through the extortion of money in exchange for the non-disclosure of stolen data, fraudulent operations and phishing campaigns using personal data, or its sale on the dark web,” the report said.

Volatile geopolitics

“Volatile geopolitics also contributes to the development of cyber espionage and hacktivism with the aim of disrupting the stable operation of infrastructures and publishing stolen data in the public domain.”

In the first half of 2024, government organisations were often targeted by cybercriminals specifically to steal personal data.

For example, DAIXINTeam announced a ransomware attack on Dubai Municipality in the first half of the year. The group claims to have stolen 60–80GB of scans and PDF files containing lists of IDs, passports, and other files with personal data.

“Analysis of confidential information leaks is closely related to the study of the dark web where criminals usually sell stolen data. In terms of regions, in the first half, offers for the sale and free distribution of data were most often seen from Asian countries, totalling about a third of all ads (30 per cent),” the report said.

In the ranking of individual countries by number of ads on dark web forums, Russia leads the top five with a share of 10 per cent, followed in descending order by the United States, India, China, and Indonesia.

Dark web forums

The most popular type of data on the dark web in the first half was personal data, with the share of ads for the sale or distribution of personal data topping 83 per cent.

In March this year, shadow forum offered access to the UAE’s Emirates Investment Bank for $10,000.

“Credentials are frequently sold on dark web forums, a key revenue source for cybercriminals. The rise in these leaks is evident on the dark market—forums now offer access to dozens or hundreds of companies per post. In April, a listing was posted offering access to the infrastructure of 16 companies from various industries across Latin America, the Middle East, Europe, and Asia, with prices ranging from $250 to $5,000,” Anna Golushko, Senior Analyst at Positive Technologies, said.

According to the listing’s authors, she said that these firms’ revenues range from $4 million to $2.8 billion.

“For instance, a UAE-based consumer electronics company with $6.5 million in revenue had its data valued at $400. In June, another listing offered credentials for over 400 companies, including access via Jira, GitHub, and GitLab,” she said.

More than half of ads on the dark web are priced under $1,000. Every tenth ad belongs to the most expensive category at $10,000 or more. The most expensive offers (over $50,000) involve major financial institutions, retail giants, and IT companies.

Comprehensive approach

In the second quarter of the year, EDR developer Cylance suffered a cyberattack, resulting in 34 million emails and an unspecified volume of customer and employee data being sold for $750,000.

The main methods of successful attacks leading to the leakage of confidential data in first half were the same as usual: malware, social engineering, and exploitation of vulnerabilities.

Ransomware is the most popular type of malware used by cybercriminals to steal confidential information.

“Preventing data leaks requires a comprehensive approach, including tools to protect user devices, corporate networks, and data itself. As corporate data infrastructures evolve into complex systems that are constantly changing rapidly, a unified solution is essential to safeguard information, regardless of its complexity or location,” Golushko said.

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Synthetic data: A transformative solution for advanced AI development

Naushad K. Cherrayil
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Synthetic data: A transformative solution for advanced AI development
  • Synthetic data serves as a scalable and efficient alternative that not only meets the burgeoning demand for quality data but also drives groundbreaking innovation across various industries.

In contemporary digital landscapes, the importance of data in powering artificial intelligence (AI) cannot be overstated. As advanced algorithms evolve, their requirements for vast amounts of data to train effectively have become increasingly urgent.

However, a potential crisis looms on the horizon, as experts, including academics and venture capitalists, predict an impending shortfall of high-quality data necessary for these next-generation AI systems.

This foreboding scenario has spurred interest in synthetic data, generated through the innovative processes of generative artificial intelligence (GenAI).

The emergence of synthetic data as a viable solution to meet the growing demand not only facilitates robust AI development but also heralds a new era of operational efficiency and innovation across various industries, all while ensuring compliance with stringent privacy regulations.

Increasing demand for data

According to GlobalData, a leading data and analytics company, synthetic data represents an often-overlooked application of GenAI that is poised to reshape how organisations approach their data needs.

Despite the surging volumes of information being generated globally, Rena Bhattacharyya, Chief Analyst and Practice Lead for Enterprise Technology and Services at GlobalData, said the increasing demand for data to fuel new machine learning algorithms presents a formidable challenge.

Whether for software testing, risk evaluation, fraud prevention, or predictive maintenance, Bhattacharyya said that synthetic data can be integrated into nearly any context requiring substantial data volumes.

“This adaptability is particularly significant, as industries face unique challenges that synthetic data can effectively address.”

Use cases

In the healthcare sector, for example, synthetic data plays an instrumental role in navigating privacy concerns while accelerating research efforts.

By simulating patient information without relying on real data, healthcare organisations can conduct studies and trials that would otherwise be obstructed by confidentiality regulations, thus promoting innovation.

Moreover, synthetic data allows manufacturers to harness GenAI for enhanced optical inspections, yielding improved quality control processes that can be pivotal in ensuring product reliability and safety.

The automotive industry is also capitalising on synthetic data, particularly through the use of synthetic images for advanced in-cabin monitoring systems.

The approach facilitates the development and refinement of new technologies while minimising reliance on potentially sensitive real-world data.

Similarly, the insurance sector is increasingly adopting synthetic data methodologies to enhance claims processing accuracy, thereby reducing fraudulent activities and streamlining operational workflows.

Furthermore, financial institutions are leveraging synthetic data to bolster their fraud prevention strategies, utilising the technology to model various risk scenarios without exposing real customer information.

The ability to generate realistic yet fictitious data sets positions synthetic data as an invaluable asset in combating financial crimes. Within the tech sector, companies are employing synthetic datasets to optimise the performance of machine learning models, underscoring the transformative potential that this technology harbors across different fields.

Data privacy regulations

Beyond its immediate benefits in operational efficiency and AI development, synthetic data also plays a critical role in fostering compliance with data privacy regulations.

Organisations can minimise the risks associated with handling sensitive information by utilising synthetic data, which is not subject to the same privacy accountabilities as authentic data.

This is especially vital in sensitive sectors like finance and healthcare, where the ramifications of data breaches can be extensive and devastating.

 “By using synthetic data, organisations do not need to collect and store sensitive information governed by privacy regulations, becoming pivotal for organisations desiring to leverage valuable data insights without incurring the high costs associated with data privacy violations,” Bhattacharyya said.

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