All posts by Richy George

Monday.com 2.0 workflow platform lets companies build custom apps

Posted by on 4 February, 2020

This post was originally published on this site

Monday.com, announced version 2.0 of its flexible workflow platform today, making it easier for customers to build custom apps on top of Monday.

Company co-founder and CEO Roy Mann says his product is a multi-purpose and highly flexible workflow tool, aimed mostly at medium sized businesses. “It’s process management, portfolio management, project management, CRM management, hotel management, R&D management. It’s anything you want because we give you the building blocks to build whatever you want,” he said.

With the release of 2.0, the company is offering a code-free environment to take these building blocks and build custom applications to meet the needs of any organization or team. This can include workflow elements to set up a process inside Monday or integrate with other apps or services.

In fact, the new release includes over a hundred prebuilt automation recipes and code-free custom-automations along with more than 50 integrations with other apps, allowing project managers to build fairly sophisticated workflows without coding.

This example shows a company building a custom app to manage a hotel. Screenshot: Monday.com

The company is also opening up the Monday platform to developers who want to build applications on top of the platform. Mann says this is just the start, and the plan is to eventually add a marketplace for these apps.

“The first step will be we’re opening [the platform to developers] up in beta. [Initially], it will be for their own use and for their customers, and then we will open it up pretty soon for them to offer those apps [in a marketplace]. That’s obviously the direction,” Mann said.

With $120 million ARR and 100,000 customers, the company has quietly gone about its business. It has 370 employees, mostly based in Israel, and has raised $273 million, according to Mann. It’s most recent investment came last July — $150 million on a lofty $1.9 billion valuation.

Posted Under: Tech News
Nomagic, a startup out of Poland, picks up $8.6M for its pick-and-place warehouse robots

Posted by on 4 February, 2020

This post was originally published on this site

Factories and warehouses have been two of the biggest markets for robots in the last several years, with machines taking on mundane, if limited, processes to speed up work and free up humans to do other, more complex tasks. Now, a startup out of Poland that is widening the scope of what those robots can do is announcing funding, a sign not just of how robotic technology has been evolving, but of the growing demand for more automation, specifically in the world of logistics and fulfilment.

Nomagic, which has developed way for a robotic arm to identify an item from an unordered selection, pick it up and then pack it into a box, is today announcing that it has raised $8.6 million in funding, one of the largest-ever seed rounds for a Polish startup. Co-led by Khosla Ventures and Hoxton Ventures, the round also included participation from DN Capital, Capnamic Ventures and Manta Ray, all previous backers of Nomagic.

There are a number of robotic arms on the market today that can be programmed to pick up and deposit items from Point A to Point B. But we are only starting to see a new wave of companies focus on bringing these to fulfilment environments because of the limitations of those arms: they can only work when the items are already “ordered” in a predictable way, such as on an assembly line, which has mean that fulfilment of, for example, online orders is usually carried out by humans.

Nomagic has incorporated a new degree of computer vision, machine learning and other AI-based technologies to  elevate the capabilities of those robotic arm. Robots powered by its tech can successfully select items from an “unstructured” group of objects — that is, not an assembly line, but potentially another box — before picking it up and placing it elsewhere.

Kacper Nowicki, the ex-Googler CEO of Nomagic who co-founded the company with Marek Cygan (formerly of Climate Corporation) and Tristan d’Orgeval (an academic), noted that while there has been some work on the problem of unstructured objects and industrial robots — in the US, there are some live implementations taking shape, with one, Covariant, recently exiting stealth mode — it has been mostly a “missing piece” in terms of the innovation that has been done to make logistics and fulfilment more efficient.

That is to say, there has been little in the way of bigger commercial roll outs of the technology, creating an opportunity in what is a huge market: fulfilment services are projected to be a $56 billion market by 2021 (currently the US is the biggest single region, estimated at between $13.5 billion and $15.5 billion).

“If every product were a tablet or phone, you could automate a regular robotic arm to pick and pack,” Nowicki said. “But if you have something else, say something in plastic, or a really huge diversity of products, then that is where the problems come in.”

Nowicki was a longtime Googler who moved from Silicon Valley back to Poland to build the company’s first engineering team in the country. In his years at Google, Nowicki worked in areas including Google Cloud and search, but also saw the AI developments underway at Google’s DeepMind subsidiary, and decided he wanted to tackle a new problem for his next challenge.

His interest underscores what has been something of a fork in artificial intelligence in recent years. While some of the earliest implementations of the principles of AI were indeed on robots, these days a lot of robotic hardware seems clunky and even outmoded, while much more of the focus of AI has shifted to software and “non-physical” systems aimed at replicating and improving upon human thought. Even the word “robot” is now just as likely to be seen in the phrase “robotic process automation”, which in fact has nothing to do with physical robots, but software.

“A lot of AI applications are not that appealing,” Nowicki simply noted (indeed, while Nowicki didn’t spell it out, DeepMind in particular has faced a lot of controversy over its own work in areas like healthcare). “But improvements in existing robotics systems by applying machine learning and computer vision so that they can operate in unstructured environments caught my attention. There has been so little automation actually in physical systems, and I believe it’s a place where we still will see a lot of change.”

Interestingly, while the company is focusing on hardware, it’s not actually building hardware per se, but is working on software that can run on the most popular robotic arms in the market today to make them “smarter”.

“We believe that most of the intellectual property in in AI is in the software stack, not the hardware,” said Orgeval. “We look at it as a mechatronics problem, but even there, we believe that this is mainly a software problem.”

Having Khosla as a backer is notable given that a very large part of the VC’s prolific investing has been in North America up to now. Nowicki said he had a connection to the firm by way of his time in the Bay Area, where before Google, Vinod Khosla backed a startup of his (which went bust in one of the dot-com downturns).

While there is an opportunity for Nomagic to take its idea global, for now Khosla’s interested because of the a closer opportunity at home, where Nomagic is already working with third-party logistics and fulfilment providers, as well as retailers like Cdiscount, a French Amazon-style, soup-to-nuts online marketplace.

“The Nomagic team has made significant strides since its founding in 2017,” says Sven Strohband, Managing Director of Khosla Ventures, in a statement. “There’s a massive opportunity within the European market for warehouse robotics and automation, and NoMagic is well-positioned to capture some of that market share.”

WARSAW, POLAND – Feb 4, 2020 – Nomagic, provider of smart pick & place robots for warehouses, announced today the closing of a $8.6 million Seed investment round led by Khosla Ventures. The round is one of the biggest seed rounds for a Polish startup yet. Hoxton Ventures (London) co-led the round with existing investors DN Capital (London), Capnamic Ventures (Cologne) and Manta Ray (London).

“The Nomagic team has made significant strides since its founding in 2017,” says Sven Strohband, Managing Director of Khosla Ventures. “There’s a massive opportunity within the European market for warehouse robotics and automation, and NoMagic is well-positioned to capture some of that market share.”

Founded on the premise that order fulfillment in warehouses requires repetitive manual tasks for which it is harder and harder to find operators, Nomagic develops AI-based solutions using robotic arms to reliably pick and place millions of different products. Their smart robots are able to determine how to pick never seen products and detect rare anomalies such as robots picking two items at once. In 2019, Nomagic deployed its solution at Cdiscount, the leading French e-commerce platform, to build the first fully automated packing line for e-commerce.

Posted Under: Tech News
HPE acquires cloud native security startup Scytale

Posted by on 3 February, 2020

This post was originally published on this site

HPE announced today that it has acquired Scytale, a cloud native security startup that is built on the open-source Secure Production Identity Framework for Everyone (SPIFFE) protocol. The companies did not share the acquisition price.

Specifically, Scytale looks at application-to-application identity and access management, something that is increasingly important as more transactions take place between applications without any human intervention. It’s imperative that the application knows it’s OK to share information with the other application.

This is an area that HPE wants to expand into, Dave Husak, HPE fellow and GM of cloudless initiative wrote in a blog post announcing the acquisition. “As HPE progresses into this next chapter, delivering on our differentiated, edge to cloud platform as-a-service strategy, security will continue to play a fundamental role. We recognize that every organization that operates in a hybrid, multi-cloud environment requires 100% secure, zero trust systems, that can dynamically identify and authenticate data and applications in real-time,” Husak wrote.

He also was careful to stress that HPE would continue to be good stewards of the SPIFFE and SPIRE (the SPIFFE Runtime Environment) projects, both of which are under the auspices of the Cloud Native Computing Foundation.

Scytale co-founder Sunil James, writing in a blog post about the deal, indicated that this was important to the founders that HPE respect the startup’s open-source roots. “Scytale’s DNA is security, distributed systems, and open-source. Under HPE, Scytale will continue to help steward SPIFFE. Our ever-growing and vocal community will lead us. We’ll toil to maintain this transparent and vendor-neutral project, which will be fundamental in HPE’s plans to deliver a dynamic, open, and secure edge-to-cloud platform,” he wrote.

Scytale was founded in 2017 and had raised $8 million, according to PitchBook data. The bulk of that was in a $5 million Series A last March led by Bessemer. The deal closed today.

Posted Under: Tech News
Microsoft Teams has been down this morning

Posted by on 3 February, 2020

This post was originally published on this site

Microsoft Teams, the collaboration platform that competes with Slack, has been down since about 8:30 am ET. Microsoft reports the outage was due to an expired certificate.

Microsoft first posted that an outage was in progress on its Office 365 Status Twitter feed about 9:00 am ET, stating the company was looking into the problem.

At approximately 10:00 am ET, the company posted the reason for the problem, an expired certificate, which frankly, has to be pretty embarrassing for the group responsible for keeping the Teams service running.

About an hour ago, the company updated the status again, indicating it had begun deploying the updated certificate.

Some customers have begun reporting on Twitter that service has been restored.

Microsoft has kept the status updates pretty business like, but has not apologized to its 20 million users as of publication. The company is in the midst of a battle for hearts and minds in the enterprise collaboration space with Slack, and a preventable outage has to be awkward for them.

The company will no doubt do a post-mortem to figure out how this mistake happened and how to prevent this kind of issue from taking down the site again. While every service is going to experience an outage from time-to-time, it’s up to the organization to understand why it happened and put systems in place to keep a preventable incident like this one from happening again in the future.

Posted Under: Tech News
Ginni Rometty leaves complex legacy as she steps away as IBM CEO

Posted by on 1 February, 2020

This post was originally published on this site

When Ginni Rometty steps down as CEO at IBM in April and her replacement Arvind Krishna takes the helm, more than eight years will have passed since she took the reins at Big Blue. The executive helped lead a massive transformation, but IBM has had a bumpy financial ride throughout her tenure — at one time recording an astonishing 22 straight quarters of declining revenue.

To be fair, Rometty took over at a tumultuous time when technology was shifting from on-prem software stacks to the cloud. She saw what was coming and used the company’s considerable cash position to buy what she needed to make that switch while taking advantage of IBM’s extensive R&D to build other pieces in-house. But the transition took time, which resulted in some financial missteps.

She deserves credit for trying to move the battleship in a new direction — culminating with the $34 billion purchase of Red Hat — even if the results were ultimately mixed.

Leading the way

Rometty was the first woman to lead IBM in an industry where female CEOs are scarce. When she came on board in 2012, there were just 21 women running Fortune 500 companies; last year, that number had risen to 33, still a paltry 6.6%. Along with Safra Catz at Oracle and Lisa Su of Advanced Micro Devices, Rometty has been part of a small group of female CEOs at large technology companies.

Posted Under: Tech News
What Nutanix got right (and wrong) in its IPO roadshow

Posted by on 1 February, 2020

This post was originally published on this site

Back in 2016, Nutanix decided to take the big step of going public. Part of that process was creating a pitch deck and presenting it during its roadshow, a coming-out party when a company goes on tour prior to its IPO and pitches itself to investors of all stripes.

It’s a huge moment in the life of any company, and after talking to CEO Dheeraj Pandey and CFO Duston Williams, one we better understood. They spoke about how every detail helped define their company and demonstrate its long-term investment value to investors who might not have been entirely familiar with the startup or its technology.

Pandey and Williams reported going through more than 100 versions of the deck before they finished the one they took on the road. Pandey said they had a data room checking every fact, every number — which they then checked yet again.

In a separate Extra Crunch post, we looked at the process of building that deck. Today, we’re looking more closely at the content of the deck itself, especially the numbers Nutanix presented to the world. We want to see what investors did more than three years ago and what’s happened since — did the company live up to its promises?

Plan of attack

Posted Under: Tech News
Daily Crunch: IBM names new CEO

Posted by on 31 January, 2020

This post was originally published on this site

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

1. Arvind Krishna will replace Ginni Rometty as IBM CEO in April

Krishna, IBM’s senior vice president for cloud and cognitive software, will take over on April 6 after a couple months of transition. Rometty will remain with the company as chairman of the board.

Krishna reportedly drove the massive $34 billion acquisition of Red Hat at the end of 2018, and there was some speculation at the time that Red Hat CEO Jim Whitehurst was the heir apparent. Instead, the board went with a more seasoned IBM insider for the job, while naming Whitehurst as president.

2. Apple’s redesigned Maps app is available across the US, adds real-time transit for Miami

The redesigned app will include more accurate information overall as well as comprehensive views of roads, buildings, parks, airports, malls and other public places. It will also bring Look Around to more cities and real-time transit to Miami.

3. Social media boosting service exposed thousands of Instagram passwords

The company, Social Captain, says it helps thousands of users to grow their Instagram follower counts by connecting their accounts to its platform. But TechCrunch learned this week Social Captain was storing the passwords of linked Instagram accounts in unencrypted plaintext.

4. Elon Musk just dropped an EDM track on SoundCloud

That is a real headline and I probably don’t need to say much else. Listen to the track, or don’t.

5. Being a child actress prepared me for a career in venture capital

Crystal McKellar played Becky Slater on “The Wonder Years,” and she writes about how that experience prepared her to be a managing partner at Anathem Ventures. (Extra Crunch membership required.)

6. Moda Operandi, an online marketplace for high-end fashion, raises $100M led by NEA and Apax

High-end fashion might not be the first thing that comes to mind when you think about online shopping, but it has actually been a ripe market for the e-commerce industry.

7. Why Sony’s PlayStation Vue failed

Vue launched in March 2015, offering live and on-demand content from more than 85 channels, including many local broadcast stations. But it failed to catch on with a broader audience, despite — or perhaps, because of — its integration with Sony’s PS3 and PS4 devices, and it shut down this week. (Extra Crunch membership required.)

Posted Under: Tech News
Even as Microsoft Azure revenue grows, AWS’s market share lead stays strong

Posted by on 31 January, 2020

This post was originally published on this site

When analyzing the cloud market, there are many ways to look at the numbers; revenue, year-over-year or quarter-over-quarter growth — or lack of it — or market share. Each of these numbers tells a story, but in the cloud market, where aggregate growth remains high and Azure’s healthy expansions continues, it’s still struggling to gain meaningful ground on AWS’s lead.

This has to be frustrating to Microsoft CEO Satya Nadella, who has managed to take his company from cloud wannabe to a strong second place in the IaaS/PaaS market, yet still finds his company miles behind the cloud leader. He’s done everything right to get his company to this point, but sometimes the math just isn’t in your favor.

Numbers don’t lie

John Dinsdale, chief analyst at Synergy Research, says Microsoft’s growth rate is higher overall than Amazon’s, but AWS still has a big lead in market share. “In absolute dollar terms, it usually has larger increments in revenue numbers and that makes Amazon hard to catch,” he says, adding “what I can say is that this is a very tough gap to close and mathematically it could not happen any time soon, whatever the quarterly performance of Microsoft and AWS.”

The thing to remember with the cloud market is that it’s not even close to being a fixed pie. In fact, it’s growing rapidly and there’s still plenty of market share left to win. As of today, before Amazon has reported, it has a substantial lead, no matter how you choose to measure it.

Posted Under: Tech News
Arvind Krishna will replace Ginni Rometty as IBM CEO in April

Posted by on 30 January, 2020

This post was originally published on this site

IBM announced today that the Board of Directors has elected IBM Senior Vice President for Cloud and Cognitive Software Arvind Krishna to replace current CEO Ginni Rometty. He will take over on April 6th after a couple of months of transition time. Rometty will remain with the company as Chairman of the Board.

Krishna reportedly drove the acquisition of Red Hat at the end of 2018, and there was some speculation at the time that Red Hat CEO Jim Whitehurst was the heir apparent, but the Board went with a more seasoned IBM veteran for the job, while naming Whitehurst as President.

In as statement Rometty called Krishna the right man for the job, as she steps back after over 8 years on the job. “Through his multiple experiences running businesses in IBM, Arvind has built an outstanding track record of bold transformations and proven business results, and is an authentic, values-driven leader. He is well-positioned to lead IBM and its clients into the cloud and cognitive era,” she said in a statement.

She added that in choosing Krishna and Whitehurst, the board chose a technically and business savvy team to lead the company moving forward. It’s clear that the Board went with two men who have a deep understanding of cloud and cognitive computing technologies, two areas that are obviously going to be front and center of technology for the foreseeable future, and areas where IBM needs to thrive.

 

Posted Under: Tech News
Hyperledger Fabric, the open source distributed ledger, reaches release 2.0

Posted by on 30 January, 2020

This post was originally published on this site

The open source Hyperledger Foundation announced the release of Hyperledger Fabric 2.0 today, the first such project to reach a 2.0 release.

It’s a notable milestone. The blockchain as a business tool has certainly had a rocky road over the last few years, but there is still plenty to like about smart contracts that have automated compliance checks built in. Hyperledger Fabric 2.0 has lots of new features with that in mind.

The biggest updates involve forcing agreement among the parties before any new data can be added to the ledger, known as decentralized governance of the smart contracts. In practice, it means that the system will prevent any entity from writing to the ledger until there is consensus among the parties involved in the transaction, a basic blockchain tenet.

This is a requirement because the beauty and the curse of the distributed ledger is that it is an immutable record. Once you have written something in the ledger, it becomes very difficult to change it without the agreement of all those involved in the contract. You want to make sure you get it right before you commit something to the ledger.

Along those same lines, developers can build in automated checks along the way. As they say, this ensures the parties can “validate additional information before endorsing a transaction proposal.”

Brian Behlendorf, Executive Director at Hyperledger and a big advocate of open source distributed ledger technology, says this is a big milestone for the project and the organization as it looks to help organizations adopt distributed ledger technology.

“Fabric 2.0 is a new generation framework developed by and for the enterprises that are building distributed ledger capabilities into the core of their businesses. This new release reflects both the development and deployment experience of the Fabric community and confirms the arrival of the production era for enterprise blockchain,” Behlendorf said in a statement.

That remains to be seen. The rise of blockchain in business has moved at a slow pace, but this release shows that the open source community is still committed to building enterprise-grade distributed ledger technology. Today’s announcement is another step in that direction.

Posted Under: Tech News
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