{"slug": "coss-weekly-convex-raises-57m-elastic-acquires-deductive-ai-hashicorp-founder", "title": "COSS Weekly: Convex raises $57M, Elastic acquires Deductive AI, HashiCorp founder launches new startup, and more", "summary": "Convex raised a $57 million Series B led by Insight Partners, with participation from Etna Labs, a16z, and Spark Capital. Elastic agreed to acquire Deductive AI, an AI-powered investigation platform, and Keyfactor entered a definitive agreement to acquire Cofide. Temporal reported a fivefold increase in AI spending alongside doubled revenue, and YugabyteDB introduced AMP, a serverless PostgreSQL offering with AI agents for database fleet management.", "body_md": "This week in COSS: Convex raised a $57 million Series B led by Insight Partners, with Etna Labs and existing backers a16z and Spark Capital also participating. In M&A, Elastic agreed to acquire Deductive AI, an AI-powered investigation platform for resolving production issues, while Keyfactor entered a definitive agreement to acquire Cofide.\n\nElsewhere, Temporal described the impact of a fivefold increase in AI spending alongside doubled revenue; YugabyteDB introduced AMP, a serverless PostgreSQL offering with AI agents for database fleet management; and OpenAI, AWS, Cursor, GitHub, and Microsoft backed Vercel’s Agent Plugins standard. Supabase became a launch partner for OpenAI’s Sign in with ChatGPT beta, Red Hat launched the asago community for AI safety and governance automation, Elastic expanded its OpenAI collaboration for enterprise AI applications, and HashiCorp co-founder Mitchell Hashimoto launched Multiplexer, a server-side terminal multiplexer startup.\n\nWe also feature the following companies in Cossmology: Cofide, TidesDB, LangWatch, Fleet Device Management, Quandela, Upsonic, OllyGarden, Expected Parrot, Dagger, and Soda.\n\n**Companies mentioned:** [Temporal](https://cossmology.com/organizations/temporal)\n\n*OSS News & Views · The New Stack*\n\n**Companies mentioned:** [YugabyteDB](https://cossmology.com/organizations/yugabytedb)\n\n*OSS News & Views · The New Stack*\n\n**Companies mentioned:** [Elastic](https://cossmology.com/organizations/elastic)\n\n*Announcement · Elastic Blog*\n\n**Companies mentioned:** [Convex](https://cossmology.com/organizations/convex)\n\n*Funding · Convex Blog*\n\n**Companies mentioned:** [Vercel](https://cossmology.com/organizations/vercel)\n\n*Announcement · The New Stack*\n\n**Companies mentioned:** [Cofide](https://cossmology.com/organizations/cofide)\n\n*Announcement · Cofide Blog*\n\n**Companies mentioned:** [Supabase](https://cossmology.com/organizations/supabase)\n\n*Announcement · Supabase Blog*\n\n**Companies mentioned:** [Red Hat](https://cossmology.com/organizations/red-hat)\n\n*Announcement · Red Hat Newsroom*\n\n**Companies mentioned:** [Elastic](https://cossmology.com/organizations/elastic)\n\n*Announcement · Elastic Blog*\n\n**Companies mentioned:** [HashiCorp](https://cossmology.com/organizations/hashicorp)\n\n*Announcement · The Register*\n\nOpen-standards workload identity platform\n\nEmbeddable key-value storage engine\n\nAI agent testing and evaluation platform\n\nOpen-source device management for multiple OS.\n\nDevelops photonic quantum computers & software.\n\nOpen-source AI agent framework for fintech\n\nExtracting insights from OpenTelemetry data\n\nOpen-source platform for AI-powered surveys\n\nSoftware for building and running CI/CD pipelines.\n\nData quality platform for modern data stack", "url": "https://wpnews.pro/news/coss-weekly-convex-raises-57m-elastic-acquires-deductive-ai-hashicorp-founder", "canonical_source": "https://dev.to/sabirchinstrap/coss-weekly-convex-raises-57m-elastic-acquires-deductive-ai-hashicorp-founder-launches-new-3bef", "published_at": "2026-08-11 17:00:00+00:00", "updated_at": "2026-08-11 17:17:44.373100+00:00", "lang": "en", "topics": ["ai-products", "ai-infrastructure", "ai-agents", "developer-tools"], "entities": ["Convex", "Insight Partners", "Etna Labs", "a16z", "Spark Capital", "Elastic", "Deductive AI", "Keyfactor"], "alternates": {"html": "https://wpnews.pro/news/coss-weekly-convex-raises-57m-elastic-acquires-deductive-ai-hashicorp-founder", "markdown": "https://wpnews.pro/news/coss-weekly-convex-raises-57m-elastic-acquires-deductive-ai-hashicorp-founder.md", "text": "https://wpnews.pro/news/coss-weekly-convex-raises-57m-elastic-acquires-deductive-ai-hashicorp-founder.txt", "jsonld": "https://wpnews.pro/news/coss-weekly-convex-raises-57m-elastic-acquires-deductive-ai-hashicorp-founder.jsonld"}}