Category Archives: Tech News

Hasura raises $25 million Series B and adds MySQL support to its GraphQL service

Posted by on 8 September, 2020

This post was originally published on this site

Hasura, a service that provides developers with an open-source engine that provides them a GraphQL API to access their databases, today announced that it has raised a $25 million Series B round led by Lightspeed Venture Partners. Previous investors Vertex Ventures US, Nexus Venture Partners, Strive VC and SAP.iO Fund also participated in this round.

The new round, which the team raised after the COVID-19 pandemic had already started, comes only six months after the company announced its $9.9 million Series A round. In total, Hasura has now raised $36.5 million.

“We’ve been seeing rapid enterprise traction in 2020. We’ve wanted to accelerate our efforts investing in the Hasura community and our cloud product that we recently launched and to ensure the success of our enterprise customers. Given the VC inbound interest, a fundraise made sense to help us step on the gas pedal and give us room to grow comfortably,” Hasura co-founder and CEO Tanmai Gopa told me.

In addition to the new funding, Hasura also today announced that it has added support for MySQL databases to its service. Until now, the company’s service only worked with PostgreSQL databases.

Rajoshi Ghosh, co-founder and COO (left) and Tanmai Gopal, co-founder and CEO (right).

As the company’s CEO and co-founder Tanmai Gopal told me, MySQL support has long been at the top of the most requested features by the service’s users. Many of these users — who are often in the health care and financial services industry — are also working with legacy systems they are trying to connect to modern applications and MySQL plays an important role there, given how long it has been around.

In addition to adding MySQL support, Hasura is also adding support for SQL Server to its line-up, but for now, that’s in early access.

“For MySQL and SQL Server, we’ve seen a lot of demand from our healthcare and financial services / fin-tech users,” Gopa said. “They have a lot of existing online data, especially in these two databases, that they want to activate to build new capabilities and use while modernizing their applications.

Today’s announcement also comes only a few months after the company launched a fully-managed managed cloud service for its service, which complements its existing paid Pro service for enterprises.

“We’re very impressed by how developers have taken to Hasura and embraced the GraphQL approach to building applications,” said Gaurav Gupta, partner at Lightspeed Venture Partners and Hasura board member. “Particularly for front-end developers using technologies like React, Hasura makes it easy to connect applications to existing databases where all the data is without compromising on security and performance. Hasura provides a lovely bridge for re-platforming applications to cloud-native approaches, so we see this approach being embraced by enterprise developers as well as front-end developers more and more.”

The company plans to use the new funding to add support for more databases and to tackle some of the harder technical challenges around cross-database joins and the company’s application-level data caching system. “We’re also investing deeply in company building so that we can grow our GTM and engineering in tandem and making some senior hires across these functions,” said Gopa.

Progress snags software automation platform Chef for $220M

Posted by on 8 September, 2020

This post was originally published on this site

Progress, a Boston area developer tool company, boosted its offerings in a big way today when it announced it was acquiring software automation platform Chef for $220 million.

Chef, which went 100% open source last year, had annual recurring revenue (ARR) of $70 million from the commercial side of the house. Needless to say, Progress CEO Yogesh Gupta was happy to bring the company into the fold and gain not only that revenue, but a set of highly skilled employees, a strong developer community and an impressive customer list.

Gupta said that Chef fits with his company’s acquisition philosophy. “This acquisition perfectly aligns with our growth strategy and meets the requirements that we’ve previously laid out: a strong recurring revenue model, technology that complements our business, a loyal customer base and the ability to leverage our operating model and infrastructure to run the business more efficiently,” he said in a statement.

Chef CEO Barry Crist offered a typical argument for an acquired company, that Progress offered  a better path to future growth, while sending a message to the open source community and customers that Progress would be a good steward of the startup’s vision.

“For Chef, this acquisition is our next chapter, and Progress will help enhance our growth potential, support our Open Source vision, and provide broader opportunities for our customers, partners, employees and community,” Crist said in a statement.

Chef’s customer list is certainly impressive including tech industry stalwarts like Facebook, IBM and SAP, as well as non-tech companies like Nordstrom, Alaska Airlines and Capital One.

The company was founded in 2008 and had raised $105 million. according to Crunchbase data. It hadn’t raised any funds since 2015 when it raised a $40 million Series E led by DFJ Growth. Other investors along the way included Battery Ventures, Ignition Partners and Scale Venture Partners.

The transaction is expected to close next month pending normal regulatory approvals.

Google Cloud launches its Business Application Platform based on Apigee and AppSheet

Posted by on 8 September, 2020

This post was originally published on this site

Unlike some of its competitors, Google Cloud has recently started emphasizing how its large lineup of different services can be combined to solve common business problems. Instead of trying to sell individual services, Google is focusing on solutions and the latest effort here is what it calls its Business Application Platform, which combines the API management capabilities of Apigee with the no-code application development platform of AppSheet, which Google acquired earlier this year.

As part of this process, Google is also launching a number of new features for both services today. The company is launching the beta of a new API Gateway, built on top of the open-source Envoy project, for example. This is a fully-managed service that is meant o makes it easier for developers to secure and manage their API across Google’s cloud computing services and serverless offerings like Cloud Functions and Cloud Run. The new gateway, which has been in alpha for a while now, offers all the standard features you’d expect, including authentication, key validation and rate limiting.

As for its low-code service AppSheet, the Google Cloud team is now making it easier to bring in data from third-party applications thanks to the general availability to Apigee as a data source for the service. AppSheet already supported standard sources like MySQL, Salesforce and G Suite, but this new feature adds a lot of flexibility to the service.

With more data comes more complexity, so AppSheet is also launching new tools for automating processes inside the service today, thanks to the early access launch of AppSheet Automation. Like the rest of AppSheet, the promise here is that developers won’t have to write any code. Instead, AppSheet Automation provides a visual interface, that according to Google, “provides contextual suggestions based on natural language inputs.” 

“We are confident the new category of business application platforms will help empower both technical and line of business developers with the core ability to create and extend applications, build and automate workflows, and connect and modernize applications,” Google notes in today’s announcement. And indeed, this looks like a smart way to combine the no-code environment of AppSheet with the power of Apigee .

DoD reaffirms Microsoft has won JEDI cloud contract, but Amazon legal complaints still pending

Posted by on 4 September, 2020

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We have seen a lot of action this week as the DoD tries to finally determine the final winner of the $10 billion, decade long DoD JEDI cloud contract. Today, the DoD released a statement that after reviewing the proposals from finalists Microsoft and Amazon again, it reiterated that Microsoft was the winner of the contract.

“The Department has completed its comprehensive re-evaluation of the JEDI Cloud proposals and determined that Microsoft’s proposal continues to represent the best value to the Government. The JEDI Cloud contract is a firm-fixed-price, indefinite-delivery/indefinite-quantity contract that will make a full range of cloud computing services available to the DoD,” The DoD said in a statement.

This comes on the heels of yesterday’s Court of Appeals decision denying Oracle’s argument that the procurement process was flawed and that there was a conflict of interest because a former Amazon employee helped write the requirements for the RFP.

While the DoD has determined that it believes that Microsoft should still get the contract, after selecting them last October,  that doesn’t mean that this is the end of the line for this long-running saga. In fact, a federal judge halted work on the project in February pending a hearing on an on-going protest from Amazon, which believes it should have won based on merit, and the fact it believes the president interfered with the procurement process to prevent Jeff Bezos, who owns the Washington Post from getting the lucrative contract.

The DoD confirmed that the project could not begin until the legal wrangling was settled. “While contract performance will not begin immediately due to the Preliminary Injunction Order issued by the Court of Federal Claims on February 13, 2020, DoD is eager to begin delivering this capability to our men and women in uniform,” the DoD reported in a statement.

A Microsoft spokesperson said the company was ready to get to work on the project as soon as it got the OK to proceed. “We appreciate that after careful review, the DoD confirmed that we offered the right technology and the best value. We’re ready to get to work and make sure that those who serve our country have access to this much needed technology,” a Microsoft spokesperson told TechCrunch.

While it takes us one step closer to the end of the road for this long-running drama, it won’t be over until the court rules on Amazon’s arguments.

Note: We sent a request for comment to Amazon, and will update the story if we hear back from them.

Teemyco creates virtual offices so that you can grab a room and talk with colleagues

Posted by on 4 September, 2020

This post was originally published on this site

Meet Teemyco, a Stockholm-based startup that wants to reproduce office interactions in a virtual environment. The company wants to foster spontaneous interactions and casual collaboration with a room-based interface. Each employee moves from one room to another just like in a physical office.

If you’re no longer working from an office, chances are you rely heavily on email, Slack, Microsoft Teams, Zoom, Google Meet or a combination of all those tools. While those tools work perfectly fine for what they’re designed to achieve, many companies feel like important information is getting lost. It’s harder to bump into a colleague next to the coffee machine and ask a quick question.

With Teemyco, each person is working in a virtual room. By default, you work in the lobby. You can consider it as an open space with multiple desks. When you want to get together for a planned or unplanned meeting, you can pull someone from the lobby and create another room.

In that room, you can start an audio call or a video call. You can see your colleagues in the corner of your screen and stay focused on a document at the same time, or you can put a video call in full screen. When someone is done, they can leave the room.

Those interactions are less formal than what you get with video-conferencing services. You don’t have to send a link to a Zoom room, you don’t have to send a calendar invite. People hop in and hop out.

If you’re working on something important, you can move to a focus room so that you don’t get interrupted every fifteen minutes. Other people won’t be able to pull you from your virtual desk. If you have to run some errands, you can also put yourself in a room that says you’re not there — those rooms can act as a status.

Teemyco also helps you work next to your favorite colleague. You can create a room and use a walkie-talkie feature for quick interactions throughout the day. And, of course, you can create a break room for non-work related discussions.

Teemyco is still a young company. The product is only available in beta. The company raised a $1 million seed round led by Luminar Ventures with Antler, Gazella and various business angels also participating.

It’s also not going to work for all companies. I’m not sure it scales well for a company with hundreds of employees for instance. Introverts might not be fans of real-time communication either.

If you’re a remote-first company, you know that it’s important to have a culture of transparency. And written information is always more transparent than video conferences.

And yet, depending on your corporate culture, something like Teemyco can be useful. It can augment information stored in shared documents and internal communication tools.

It’s an interesting product that proves that the inevitable debate between physical offices and remote teams is not a binary problem. There is some granularity and companies can adjust the knob depending on specific needs.

Oracle loses $10B JEDI cloud contract appeal yet again

Posted by on 3 September, 2020

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Oracle was never fond of the JEDI cloud contract process, that massive $10 billion, decade-long Department of Defense cloud contract that went to a single vendor. It was forever arguing to anyone who would listen that that process was faulty and favored Amazon.

Yesterday it lost another round in court when the U.S. Court of Appeals rejected the database giant’s argument that the procurement process was flawed because it went to a single vendor. It also didn’t buy that there was a conflict of interest because a former Amazon employee was involved in writing the DoD’s request for proposal criteria.

On the latter point, the court wrote, “The court addressed the question whether the contracting officer had properly assessed the impact of the conflicts on the procurement and found that she had.”

Further, the court found that Oracle’s case didn’t have merit in some cases because it failed to meet certain basic contractual criteria. In other cases, it didn’t find that the DoD violated any specific procurement rules with this bidding process.

This represents the third time the company has tried to appeal the process in some way, four if you include direct executive intervention with the president. In fact, even before the RFP had been released in April 2018, CEO Safra Catz brought complaints to the president that the bid favored Amazon.

In November 2018, the Government Accountability Office (GAO) denied Oracle’s protest that it favored Amazon or any of the other points in their complaint. The following month, the company filed a $10 billion lawsuit in federal court, which was denied last August. Yesterday’s ruling is on the appeal of that decision.

It’s worth noting that for all its complaints that the deal favored Amazon, Microsoft actually won the bid. Even with that determination, the deal remains tied up in litigation as Amazon has filed multiple complaints, alleging that the president interfered with the deal and that they should have won on merit.

As with all things related to this contract, the drama has never stopped.

Optimizely acquired by content management company Episerver

Posted by on 3 September, 2020

This post was originally published on this site

Episerver is announcing that it has reached an agreement to acquire Optimizely for an undisclosed sum.

Optimizely was founded in 2009 by Dan Siroker and Pete Koomen. It became synonymous with A/B testing, subsequently building a broader suite of tools for marketers to experiment with and personalize their websites and apps, with more than 1,000 customers including Gap, StubHub, IBM and The Wall Street Journal.

The company had raised more than $200 million in funding from Goldman Sachs, Index Ventures, Andreessen Horowitz, GV and others. Earlier this year, it laid off 15% of its staff, citing the impact of COVID-19.

Episerver, meanwhile, was founded in Stockholm back in 1994 and offers tools for marketers to manage their digital content. Accel-KKR  sold the company to Insight Partners for $1.1 billion in 2018. (Today’s announcement describes Insight as a “strategic advisor and sponsor” in the acquisition.)

In a statement, Episerver CEO Alex Atzberger said this is “the most significant transformation in our company’s history – one that will set a new industry standard for digital experience platforms.” It sounds like the idea is to extend Episerver’s capabilities around content and commerce with Optimizely’s experimentation tools.

“The breakthrough combination of Episerver and Optimizely will transform digital experience creation and optimization, enabling digital teams to replace guesswork with evidence-based outcomes,” Atzberger said. “This, along with our shared mission to empower growing companies to compete digitally, makes me thrilled to welcome the Optimizely team to Episerver, as we prove there are no extraordinary experiences without experimentation.”

A company spokesperson said the deal is for a mix of cash and stock. The acquisition is expected to close in the fourth quarter of this year, with the companies remaining fully staffed and independent until then.

“Winning in today’s digital world requires delivering the best and most personalized digital experiences,” said Jay Larson, who replaced Siroker as Optimizely CEO in 2017, in a statement. “Episerver and Optimizely have a shared vision to optimize every customer touchpoint through the use of experimentation. Together, we will enable our customers to do more testing, in more places, with greater ease than ever before.”

Avo raises $3M for its analytics governance platform

Posted by on 3 September, 2020

This post was originally published on this site

Avo, a startup that helps businesses better manage their data quality across teams, today announced that it has raised a $3 million seed round led by GGV Capital, with participation from  Heavybit, Y Combinator and others.

The company’s founder, Stefania Olafsdóttir, who is currently based in Iceland, was previously the head of data science at QuizUp, which at some point had 100 million users around the world. “I had the opportunity to build up the Data Science Division, and that meant the cultural aspect of helping people ask and answer the right questions — and get them curious about data — but it also meant the technical part of setting up the infrastructure and tools and pipelines, so people can get the right answers when they need it,” she told me. “We were early adopters of self-serve product analytics and culture — and we struggled immensely with data reliability and data trust.”

Image Credits: Avo

As companies collect more data across products and teams, the process tends to become unwieldy and different teams end up using different methods (or just simply different tags), which creates inefficiencies and issues across the data pipeline.

“At first, that unreliable data just slowed down decision making, because people were just like, didn’t understand the data and needed to ask questions,” Olafsdóttir said about her time at QuizUp. “But then it caused us to actually launch bad product updates based on incorrect data.” Over time, that problem only became more apparent.

“Once organizations realize how big this issue is — that they’re effectively flying blind because of unreliable data, while their competition might be like taking the lead on the market — the default is to patch together a bunch of clunky processes and tools that partially increase the level of liability,” she said. And that clunky process typically involves a product manager and a spreadsheet today.

At its core, the Avo team set out to build a better process around this, and after a few detours and other product ideas, Olafsdóttir and her co-founders regrouped to focus on exactly this problem during their time in the Y Combinator program.

Avo gives developers, data scientists and product managers a shared workspace to develop and optimize their data pipelines. “Good product analytics is the product of collaboration between these cross-functional groups of stakeholders,” Olafsdóttir argues, and the goal of Avo is to give these groups a platform for their analytics planning and governance — and to set company-wide standards for how they create their analytics events.

Once that is done, Avo provides developers with typesafe analytics code and debuggers that allows them to take those snippets and add them to their code within minutes. For some companies, this new process can help them go from spending 10 hours on fixing a specific analytics issue to an hour or less.

Most companies, the team argues, know — deep down — that they can’t fully trust their data. But they also often don’t know how to fix this problem. To help them with this, Avo also today released its Inspector product. This tool processes event streams for a company, visualizes them and then highlights potential errors. These could be type mismatches, missing properties or other discrepancies. In many ways, that’s obviously a great sales tool for a service that aims to avoid exactly these problems.

One of Avo’s early customers is Rappi, the Latin American delivery service. “This year we scaled to meet the demand of 100,000 new customers digitizing their deliveries and curbside pickups. The problem with every new software release was that we’d break analytics. It represented 25% of our Jira tickets,” said Rappi’s head of Engineering, Damian Sima. “With Avo we create analytics schemas upfront, identify analytics issues fast, add consistency over time and ensure data reliability as we help customers serve the 12+ million monthly users their businesses attract.”

As most startups at this stage, Avo plans to use the new funding to build out its team and continue to develop its product.

“The next trillion-dollar software market will be driven from the ground up, with developers deciding the tools they use to create digital transformation across every industry. Avo offers engineers ease of implementation while still retaining schemas and analytics governance for product leaders,” said GGV Capital Managing Partner Glenn Solomon. “Our investment in Avo is an investment in software developers as the new kingmakers and product leaders as the new oracles.”

Hypatos gets $11.8M for a deep learning approach to document processing

Posted by on 2 September, 2020

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Process automation startup Hypatos has raised a €10 million (~$11.8M) seed round of funding from investors including Blackfin Tech, Grazia Equity, UVC Partners and Plug & Play Ventures.

The Germany- and Poland-based company was spun out of AI for accounting startup, Smacc, at the back end of 2018 to apply deep learning tech to power a wider range of back-office automation, with a focus on industries with heavy financial document processing needs, such as the financial and insurance sectors.

Hypatos is applying language processing AI and computer vision tech to speed up financial document processing for business use-cases such as invoices, travel and expense management, loan application validation and insurance claims handling via — touting a training dataset of more than 10M annotated data entities.

It says the new seed funding will go on R&D to expand its portfolio of AI models so it can automate business processing for more types of documents, as well as for fuelling growth in Europe, North American and Asia. Its customer base at this point includes Fortune 500 companies, major accounting firms and more than 300 software companies.

While there are plenty of business process automation plays, Hypatos says its use of deep learning tech supports an “in-depth understanding” of document content — which in turn allows it to offer customers a ‘soup to nuts’ automation menu that covers document classification, information capturing, content validation, and data enrichment.

It dubs its approach “cognitive process automation” (CPA) vs more basic applications of business process automation with software robots (RPA) which it argues aren’t so contextually savvy — thereby claiming an edge.

As well as document processing solutions, it has developed machine learning modules for enhancing customers’ existing systems (e.g. ECM, ERP, CRM, RPA); and offers APIs for software providers to draw on its machine learning tech for their own applications.

“All offerings include machine learning pipeline software for continuous model training in the cloud or in on-premise deployments,” it notes in a press release.

“We have deep knowledge of how financial documents are processed and millions of data entities in our training data,” says chief commercial officer, Cem Dilmegani, discussing where Hypatos fits in the business process automation landscape. “We get compared to RPA companies like UiPath, enterprise content management (ECM) companies like Kofax Readsoft as well as generalist ML document automation companies like Hyperscience. However, we are quite different.

“We focus on end-to-end automation, we don’t only help companies capture data, we help them process it using our deep domain understanding, enabling higher rates of automation. For example, to automate incoming invoice processing (A/P automation) we apply our document understanding AI to capture all data, classify the document, identify the specific goods and services, validate for internal/external compliance and assign financial accounts, cost centers, cost categories etc. to automate all processing tasks.”

“Finally, we offer this technology as components easily accessible via APIs. This allows RPA or ECM users to leverage our technology and increase their level of automation,” he adds.

Hypatos claims it’s seeing uplift as a result of the coronavirus pandemic — noting it’s providing a service to more than a dozen Fortune 500 companies to help with in-shoring efforts which it says are accelerating as a result of COVID-19 putting pressure on the traditional business process outsourcing model as offshore workforce productivity in lower wage regions is affected by coronavirus lockdowns.

“We believe that we are in a pivotal moment of machine learning adoption in large organizations,” adds Andreas Unseld, partner at UVC Partners, in a supporting statement. “Hypatos’ technology provides ample opportunity to transform many core business processes. We’re impressed by the Hypatos machine learning technology and see the team in a perfect position to take a leading role in the machine learning revolution to come.”

Transposit scores $35M to build data-driven runbooks for faster disaster recovery

Posted by on 2 September, 2020

This post was originally published on this site

Transposit is a company built by engineers to help engineers, and one big way to help them is to get systems up and running faster when things go wrong — as they always will at some point. Transposit has come up with a way to build runbooks for faster disaster recovery, while using data to update them in an automated fashion.

Today, the company announced a $35 million Series B investment led by Altimeter Capital with participation from existing investors Sutter Hill Ventures, SignalFire and Unusual Ventures. Today’s investment brings the total raised to $50.4 million, according to the company.

Company CEO Divanny Lamas and CTO and founder Tina Huang see technology issues as less an engineering problem and more as a human problem because it’s humans who have to clean up the messes when things go wrong. Huang says forgetting the human side of things is where she thinks technology has gone astray.

“We know that the real superpower of the product is that we focus on the human and the user side of things. And as a result, we’re building an engineering culture that I think is somewhat differentiated,” Huang told TechCrunch.

Transposit is a platform that its core helps manage APIs, connections to other programs, so it starts with a basic understanding of how various underlying technologies work together inside a company. This is essential for a tool that is trying to help engineers in a moment of panic, figure out how to get back to a working state.

When it comes to disaster recovery, there are essentially two pieces: getting the systems working again, then figuring out what happened. For the first piece the company is building data-driven runbooks. By being data-driven, they aren’t static documents. Instead the underlying machine learning algorithms can look at how the engineers recovered and adjust accordingly.

Image Credits: Transposit

“We realized that no one was focusing on what we realize is the root problem here, which is how do I have access to the right set of data to make it easier to reconstruct that timeline, and understand what happened? We took those two pieces together, this notion that runbooks are a critical piece of how you spread knowledge and spread process, and this other. piece, which is the data, is critical, Huang said.

Today the company has 26 employees including Huang and Lamas who Huang brought on board from Splunk last year to be CEO. The company is somewhat unique having two women running the organization, and they are trying to build a diverse workforce as they build their company to 50 people in the next 12 months.

The current make-up is 47% female engineers, and the goal is to remain diverse as they build the company, something that Lamas admits is challenging to do. “I wish I had a magic answer, or that Tina had a magic answer. The reality is that we’re just very demanding on recruiters. And we are very insistent that we have a diverse pipeline of candidates, and are constantly looking at our numbers and looking at how we’re doing,” Lamas said.

She says being diverse actually makes it easier to recruit good candidates. “People want to work at diverse companies. And so it gives us a real edge from a kind of culture perspective, and we find that we get really amazing candidates that are just tired of the status quo. They’re tired of the old way of doing things and they want to work in a company that reflects the world that they want to live in,” she said.

The company, which launched in 2016, took a few years to build the first piece, the underlying API platform. This year it added the disaster recovery piece on top of that platform, and has been running it beta since the beginning of the summer. They hope to add additional beta customers before making it generally available later this year.

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