Category Archives: Tech News

Census raises $4.3M seed to put product info in cloud data warehouses to work

Posted by on 27 May, 2020

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Companies spend inordinate amounts of time and money building data warehouses and moving data from enterprise applications. But once they get the data in, how do they get specific information like product data back out and distribute it to business operations, who can use it to better understand customers? That’s where Census comes in. It builds a layer on top of the data warehouse that makes it easy for the data team to distribute product data it where it’s needed.

The company announced a $4.3 million seed today, although it closed last year while they were still building the product. That round was led by Andreessen Horowitz with help from SV Angel and a number of angel investors.

Census CEO Boris Jabes says the company was founded to solve this problem of data distribution from a cloud data warehouse. He says for starters they are concentrating on product data.

“The product is designed to sync data directly from cloud data warehouses like Snowflake, BigQuery and Redshift […] and the main reason we did that was people really needed to get access to this kind of product data and all this data that’s locked in all their systems and take advantage of it,” Jabes explained.

He says that the first step is to make the product data sitting in the data warehouse actionable for the organization. They are working with data teams at early customers to remove the complexity of getting that data out of the warehouse and putting it to work in a more automated fashion.

They do this by creating a unified schema that sits on top of the data in the warehouse and makes it easier to distribute it to the teams that need it inside the organization. It essentially acts as a middleware layer on top of the warehouse that you can take advantage of without having to write code to decide where data might be most useful.

David Ulevitch, who led the investment at a16z says that removing this manual part of the process is highly valuable. “For years, organizations have had to do the frustrating task of manually syncing data between dozens of apps. This friction is especially painful now that data has become critical to every team in a business, from product to sales. Census sets a new standard for how product-led SaaS companies can operationalize data,” he said in a statement.

Jabes understands these are difficult times for every business, and especially an early stage startup, but he says they are focusing on an aspect of the business that potential customers need.

“We’ve seen companies actually spending time trying to tackle some of these data problems […] so I’m still optimistic,” he says.

Kentik raises $23.5M for its network intelligence platform

Posted by on 27 May, 2020

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Kentik, the company once known as CloudHelix, today announced that it has raised a $23.5 million growth funding round led by Vistara Capital Partners, with existing investors August Capital, Third Point Ventures, DCVC, and Tahoma Ventures also participating. With this round, Kentik has now raised a total of $61.7 million.

The company’s platform allows enterprises to monitor their networks, no matter whether that’s over the Internet, inside their own data centers or in public clouds.

“The world has become even more internet-centric, and we are seeing growth in traffic levels, product engagement, and revenue across both our enterprise and service provider customers,” said Avi Freedman, the co-founder and CEO of Kentik when I asked him why he was raising a round now. “We’ve seen an increased pace of adoption of the kind of hybrid and internet-centric architectures that Kentik is built for and thought it was a great time to increase investment, especially in product, as well as go-to-market and partner expansion to support market demand.”

Freedman says the company has been growing 100% compounded year-over-year since it launched in 2015 and now has customers in 25 countries. These include leading enterprises, SaaS companies, content providers, gaming companies, content providers, and cloud and communication service providers, he tells me. Current customers include the likes of IBM, Zoom, Dropbox, eBay, Cisco and GoDaddy.

The company says it will use the new funding to invest in its product and for go-to-market investments.

One notable fact about this new round is that it is a combination of equity and growth debt. Why growth debt? “Growth debt is an attractive option for startups with the right scale and strong unit economics, especially with the changes to capital markets in response to current economic conditions,” said Freedman. “Another element that makes long-term debt attractive is that unlike equity financing, long-term debt limits dilution for everyone, but especially benefits our employees who hold common stock.” That, it’s worth noting, is also something that lead investor Vistara Capital has made one of the core tenants of its investment philosophy. “Since Kentik is now at a scale where we have enough data on the business fundamentals to be able to make growth investments using debt while still being able to repay it over time, it made sense to us and our investors,” noted Freedman.

Extra Crunch Live: Join Verizon CEO Hans Vestberg for a live Q&A today at 2pm EDT/11am PDT

Posted by on 26 May, 2020

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As the leader of a publicly traded corporation with 135,000 employees, Verizon Communications CEO Hans Vestberg has a unique perspective on the state of the world.

When he appears today on Extra Crunch Live, our virtual speaker series for Extra Crunch members, we’ll ask him about this extraordinary moment in history and his plans for seeing the company through a black swan event that’s reshaping the global economy.

The discussion starts at 2 p.m. EDT/11 a.m. PDT/9 p.m. GMT. You can find the full details below.

Vestberg served as president and CEO at Ericsson for six years and joined Verizon as its CTO and president of Global Networks in 2017 before stepping into the CEO role a little more than a year later. (Disclosure: TechCrunch is owned by Verizon).

We’ll talk to Vestberg about his tactics for managing a company at scale through a crisis and will check in on the company’s 5G rollout, a platform inflection point that should change the landscape for founders and entrepreneurs. Verizon recently acquired BlueJeans, which competes directly with Zoom and WebEx, so we’ll also ask Vestberg about the company’s forward-looking investment strategy.

Extra Crunch members are encouraged to ask their own questions during the Zoom call, so please come prepared. If you’re not already a member, sign up on the cheap right here.

You can also check out the full Extra Crunch Live schedule here.

See you soon!

Baton raises $10M Series A to organize post-sale implementation

Posted by on 26 May, 2020

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Baton, an early-stage startup that wants to help customers organize the post-sales implementation process, emerged from stealth today with a $10 million Series A investment.

Activant Capital led the round with help from Global Founders Capital and Hybris founder Carsten Thoma.

Like so many startups, the idea for Baton stemmed from a pain point that founder and CEO Alex Krug experienced first hand. He was co-founder at Behance, which was later sold to Adobe and he saw that there were tools to organize your customers and get you through the sale, but there was something distinctly lacking when it came to implementation post-sale.

Krug said that most companies hacked together a solution consisting of general project management tools, spreadsheets and email, but what was missing was a dedicated platform to help with this part of the process. He put his team to work to build it.

“We reconfigured a lot of the team that I worked with at Behance and Adobe and really started to build a platform around optimizing the implementation, what happens in between your presale and post sale and how customers get on boarded through a platform,” Krug told TechCrunch.

He says where project management tends to be internally focussed, Baton is designed to bring all the parties from vendor to client to systems integrator together in one tool, so everyone knows their responsibilities and targets.

While Krug understands that this may not be an optimal time to launch a startup out of stealth in the middle of a pandemic and corresponding economic crisis, he still sees a real need for a tool like Baton.

“This era of top line growth is gone. Efficient growth is here to stay and Baton really optimizes processes and standardizes a toolset that allows you to grow efficiently from your fifth customer to your thousandth customer, whereas previous iterations of implementation have been these static spreadsheets and chasing people for manual updates.”

He believes his company is offering a reasonable alternative to that, as does his lead investor Peter McCoy at Activant Capital. “The best SaaS companies are built off of product-led growth, that can be network effects, novel go-to-market strategies or some other distribution advantage. The problem I kept seeing was even companies that had one or a couple of these attributes created operational debt, when they bloated up their services teams to keep up with top line growth. The need for a platform like Baton was super clear to me,” McCoy said in a statement.

Beginning today, the company will set forth on its startup journey as it attempts to carve out a market in difficult times, and help customers with this crucial part of the selling cycle.

Scandit raises $80M as COVID-19 drives demand for contactless deliveries

Posted by on 26 May, 2020

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Enterprise barcode scanner company Scandit has closed an $80 million Series C round, led by Silicon Valley VC firm G2VP. Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures also participated in the round — which brings its total raised to date to $123M.

The Zurich-based firm offers a platform that combines computer vision and machine learning tech with barcode scanning, text recognition (OCR), object recognition and augmented reality which is designed for any camera-equipped smart device — from smartphones to drones, wearables (e.g. AR glasses for warehouse workers) and even robots.

Use-cases include mobile apps or websites for mobile shopping; self checkout; inventory management; proof of delivery; asset tracking and maintenance — including in healthcare where its tech can be used to power the scanning of patient IDs, samples, medication and supplies.

It bills its software as “unmatched” in terms of speed and accuracy, as well as the ability to scan in bad light; at any angle; and with damaged labels. Target industries include retail, healthcare, industrial/manufacturing, travel, transport & logistics and more.

The latest funding injection follows a $30M Series B round back in 2018. Since then Scandit says it’s tripled recurring revenues, more than doubling the number of blue-chip enterprise customers, and doubling the size of its global team.

Global customers for its tech include the likes of 7-Eleven, Alaska Airlines, Carrefour, DPD, FedEx, Instacart, Johns Hopkins Hospital, La Poste, Levi Strauss & Co, Mount Sinai Hospital and Toyota — with the company touting “tens of billions of scans” per year on 100+ million active devices at this stage of its business.

It says the new funding will go on further pressing on the gas to grow in new markets, including APAC and Latin America, as well as building out its footprint and ops in North America and Europe. Also on the slate: Funding more R&D to devise new ways for enterprises to transform their core business processes using computer vision and AR.

The need for social distancing during the coronavirus pandemic has also accelerated demand for mobile computer vision on personal smart devices, according to Scandit, which says customers are looking for ways to enable more contactless interactions.

Another demand spike it’s seeing is coming from the pandemic-related boom in ‘Click & Collect’ retail and “millions” of extra home deliveries — something its tech is well positioned to cater to because its scanning apps support BYOD (bring your own device), rather than requiring proprietary hardware.

“COVID-19 has shone a spotlight on the need for rapid digital transformation in these uncertain times, and the need to blend the physical and digital plays a crucial role,” said CEO Samuel Mueller in a statement. “Our new funding makes it possible for us to help even more enterprises to quickly adapt to the new demand for ‘contactless business’, and be better positioned to succeed, whatever the new normal is.”

Also commenting on the funding in a supporting statement, Ben Kortlang, general partner at G2VP, added: “Scandit’s platform puts an enterprise-grade scanning solution in the pocket of every employee and customer without requiring legacy hardware. This bridge between the physical and digital worlds will be increasingly critical as the world accelerates its shift to online purchasing and delivery, distributed supply chains and cashierless retail.”

IBM confirms layoffs are happening, but won’t provide details

Posted by on 22 May, 2020

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IBM confirmed reports from over night that it is conducting layoffs, but wouldn’t provide details related to location, departments or number of employees involved. The company framed it in terms of replacing people with more needed skills as it tries to regroup under new CEO Arvind Krishna.

IBM’s work in a highly competitive marketplace requires flexibility to constantly remix to high-value skills, and our workforce decisions are made in the long-term interests of our business,” an IBM spokesperson told TechCrunch.

Patrick Moorhead, principal analyst at Moor Insights & Strategy says he’s hearing the layoffs are hitting across the business. “I’m hearing it’s a balancing act between business units. IBM is moving as many resources as it can to the cloud. Essentially, you lay off some of the people without the skills you need and who can’t be re-educated and you bring in people with certain skill sets. So not a net reduction in headcount,” Moorhead said.

It’s worth noting that IBM used a similar argument back in 2015 when it reportedly had layoffs. While there is no official number, Bloomberg is reporting that today’s number is in the thousands.

Holger Mueller, an analyst at Constellation Research, says that IBM is in a tough spot. “The bets of the past have not paid off. IBM Cloud as IaaS is gone, Watson did not deliver and Blockchain is too slow to keep thousands of consultants occupied,” he said.

Mueller adds that the company could also be feeling the impact of having workers at home instead of in the field. “Enterprises do not know and have not learnt how to do large software projects remotely. […] And for now enterprises are slowing down on projects as they are busy with reopening plans,” he said.

The news comes against the backdrop of companies large and small laying off large numbers of employees as the pandemic takes its toll on the workforce. IBM was probably due for a workforce reduction, regardless of the current macro situation as Krishna tries to right the financial ship.

The company has struggled in recent years, and with the acquisition of Red Hat for $34 billion in 2018, it is hoping to find its way as a more open hybrid cloud option. It apparently wants to focus on skills that can help them get there.

The company indicated that it would continue to subsidize medical expenses for laid off employees through June 2021, so there is that.

Extra Crunch Live: Join Box CEO Aaron Levie May 28th at noon PT/3 pm ET/7 pm GMT

Posted by on 21 May, 2020

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We’ve been on a roll with our Extra Crunch Live Series for Extra Crunch members, where we’re talking to some of the biggest names in Silicon Valley about business, investment and the startup community. Recent interviews include Kirsten Green from Forerunner Ventures, Charles Hudson from Precursor Ventures and investor Mark Cuban.

Next week, we’re pleased to welcome Box CEO Aaron Levie. He is a well-known advocate of digital transformation, often a years-long process that many companies have compressed into a few months because of the pandemic, as he has pointed out lately.

As the head of an enterprise SaaS company that started out to help users manage information online, he has a unique perspective on what’s happening in this period as companies move employees home and implement cloud services to ease the transition.

Levie started his company 15 years ago while still an undergrad in the proverbial dorm room and has matured from those early days into a public company executive, guiding his employees, customers and investors through the current crisis. This is not the first economic downturn he has faced as CEO at Box; when it was still an early-stage startup, he saw it through the 2008 financial crisis. Presumably, he’s taking the lessons he learned then and applying them now to a much more mature organization.

Please join TechCrunch writers Ron Miller and Jon Shieber as we chat with Levie about how he’s handling the COVID-19 crisis, moving employees offsite and what advice he has for companies that are accelerating their digital transformation. After he’s shared his wisdom for startups seeking survival strategies, we’ll discuss what life might look like for Box and other companies in a post-pandemic environment.

During the call, audience members are encouraged to ask questions. We’ll get to as many as we can, but you can only participate if you’re an Extra Crunch member, so please subscribe here.

Extra Crunch subscribers can find the Zoom link below (with YouTube to follow) as well as a calendar invite so you won’t miss this conversation.

11 VCs share their thoughts on enterprise startup trends and opportunities

Posted by on 21 May, 2020

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Compared to other tech firms, enterprise companies have held up well during the pandemic.

If anything, the problems enterprises were facing prior to the economic downturn have become even more pronounced; if you were thinking about moving to the cloud or just dabbling in it, you’re probably accelerating that motion. If you were trying to move off of legacy systems, that has become even more imperative. And if you were attempting to modernize processes and workflows, whether engineer- and developer-related, or across other parts of the organization, chances are good that you are giving that a much closer look.

We won’t be locked down forever and employees will eventually return to offices, but it’s likely that many companies will take the lessons they learned during this era and put them to work inside their organizations. Startups are uniquely positioned to help companies solve these new modern kinds of problems, much more so than a legacy vendor (which could be itself trying to update its approach).

Venture capitalists certainly understand all of these dynamics and are always dutifully searching for startups that could help companies shift to a digital future more quickly.

We spoke to 11 of them to take their pulse and learn more about the trends that are exciting them, what they look for in an investment opportunity and which parts of the enterprise are ripe for startups to impact:

  • Max Gazor, CRV
  • Navin Chadda, Mayfield
  • Matt Murphy, Menlo Venture Capital
  • Soma Somasagar, Madrona Ventures
  • Jon Lehr, Work-Bench
  • Steve Herrod, General Catalyst
  • Jai Das, Sapphire Ventures
  • Max Gazor,  CRV
  • Ed Sim, Boldstart Ventures
  • Martin Cassado, Andreessen Horowitz
  • Vassant Natarajan, Accel

Max Gazor, CRV

What trends are you most excited about in the enterprise from an investing perspective?

It’s abundantly clear that cloud software markets are bigger than most people anticipated. We continue to invest heavily there as we have been doing for the last decade.

Specifically, the most exciting trend right now in enterprise is low-code software development. I’m on the board of Airtable, where I led the Series A and co-led the Series B investments, so I see first hand how this will play out. We are heading toward a future where hundreds of millions of people will be empowered to compose software that fits their own needs. Imagine the productivity and transformation that will unlock in the world! It may be one of the largest market opportunities we have seen since cloud computing.

6 CISOs share their game plans for a post-pandemic world

Posted by on 21 May, 2020

This post was originally published on this site

Like all business leaders, chief information security officers (CISOs) have shifted their roles quickly and dramatically during the COVID-19 pandemic, but many have had to fight fires they never expected.

Most importantly, they’ve had to ensure corporate networks remain secure even with 100% of employees suddenly working from home. Controllers are moving millions between corporate accounts from their living rooms, HR managers are sharing employees’ personal information from their kitchen tables and tens of millions of workers are accessing company data using personal laptops and phones.

This unprecedented situation reveals once and for all that security is not only about preventing breaches, but also about ensuring fundamental business continuity.

While it might take time, everyone agrees the pandemic will end. But how will the cybersecurity sector look in a post-COVID-19 world? What type of software will CISOs want to buy in the near future, and two years down the road?

To find out, I asked six of the world’s leading CISOs to share their experiences during the pandemic and their plans for the future, providing insights on how cybersecurity companies should develop and market their solutions to emerge stronger:

The security sector will experience challenges, but also opportunities

The good news is, many CISOs believe that cybersecurity will weather the economic storm better than other enterprise software sectors. That’s because security has become even more top of mind during the pandemic; with the vast majority of corporate employees now working remotely, a secure network has never been more paramount, said Rinki Sethi, CISO at Rubrik. “Many security teams are now focused on ensuring they have controls in place for a completely remote workforce, so endpoint and network security, as well as identity and access management, are more important than ever,” said Sethi. “Additionally, business continuity and disaster recovery planning are critical right now — the ability to respond to a security incident and have a robust plan to recover from it is top priority for most security teams, and will continue to be for a long time.”

That’s not to say all security companies will necessarily thrive during this current economic crisis. Adrian Ludwig, CISO at Atlassian, notes that an overall decline in IT budgets will impact security spending. But the silver lining is that some companies will be acquired. “I expect we will see consolidation in the cybersecurity markets, and that most new investments by IT departments will be in basic infrastructure to facilitate work-from-home,” said Ludwig. “Less well-capitalized cybersecurity companies may want to begin thinking about potential exit opportunities sooner rather than later.”

Salesforce Commerce Cloud releases four quick-start pandemic business packs

Posted by on 21 May, 2020

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As we move deeper into the pandemic, it’s clear that the way we conduct business is changing, maybe forever. That means that business has to change too — and fast. But if you’ve never conducted business digitally or only nominally, how do you suddenly transform on the fly?

Salesforce Commerce Cloud CEO Mike Micucci says that they were hearing from customers they needed help. Salesforce decided to build four packages of services very quickly for customers specifically designed to help conduct business during COVID-19. The company even has SI partners who will run everything for the first three months, so these businesses don’t have to do much of anything except turn the key (so to speak).

The four tools are part of the Salesforce Quick Start Commerce Solutions and include Quick Start Commerce for D2C Consumer and Essential Goods to get a site up running fast, Quick Start Commerce for Grocery and Food Service to help restaurants and grocery stores set up online curbside food purchasing systems, Quick Start Commerce for B2B for companies setting up business-to-business sites and Quick Start Commerce for Buy Online and Curbside Pickup, which enables non-food companies to move in-store inventories online, and arrange curbside pick up systems.

Quick Start Commerce for Buy Online and Curbside Pickup. Image Credit: Salesforce

Micucci says that online commerce has been operating at a holiday kind of surge since we went into lockdown 10 weeks ago and customers have been clamoring for help. He said that they responded initially with a series of materials on best practices for getting online quickly, but customers wanted something more concrete.

“We needed to bring the software to bear on this. So we designed these four quick start packages. Essentially, the whole model was that we need to get you running in weeks, not months. The goal was literally [to get you up in] two weeks, and included software, obviously our cloud-based commerce and whatnot, but more importantly it included a package of services,” Micucci explained.

To build that package, it involved more than just Salesforce itself. It needed to get partners involved too to include payment, shipping, order management and other related kinds of tooling, depending on the package requirements.

Finally, they wanted to even remove the site management headaches from the customer, at least initially. Understanding that it would be difficult for businesses to train people internally to manage the system at this time, they got systems integrators involved to do it for them for the first three months. If the customer wants to take over sooner, they can, and if they want the SI to continue to manage the whole thing, that’s fine too.

As Salesforce itself moved out of the office and home, it was observing that online sales were spiking, and Micucci says after a couple of weeks of making sure the workforce was settled, he started hearing from customers about the problems they were having conducting business, and they went to work. The first of these packages came together in just a couple of weeks including partners.

They got them out to customers for quick Beta testing and refinement to the extent they could, but the guiding principle in producing these packages was speed over perfection. They realize the products will very likely require further refinement as they get out into the field, but they learned you can produce a package to meet a pressing customer need, and do it quickly, and that’s a lesson that will likely resonate even after this crisis is over.

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