Convex raises $57M, Elastic acquires Deductive AI, HashiCorp founder starts new venture

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Convex secured a $57 million Series B funding round led by Insight Partners, with participation from Etna Labs, a16z, and Spark Capital. Elastic agreed to acquire Deductive AI, an AI-driven platform designed to help engineering teams resolve production incidents faster. HashiCorp co-founder Mitchell Hashimoto announced a new startup called Multiplexer, focused on server-side terminal multiplexing. Keyfactor also entered an agreement to acquire workload identity platform Cofide, while Supabase joined as a launch partner for OpenAI's Sign in with ChatGPT beta. Additionally, major tech players including OpenAI, AWS, Cursor, GitHub, and Microsoft backed Vercel's Agent Plugins standard, signaling growing industry alignment around agentic development tooling.

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