CBPO

Tag: Raises

Looking to become the video-based social network of the gaming world, Medal.tv raises $9 million

September 6, 2019 No Comments

When Medal.tv first launched on the scene, the company was an upstart trying to be the social network for the gaming generation.

Since its debut in February, the clipping and messaging service for gamers has amassed 5 million total users with hundreds of thousands of daily active users. And now it has a $ 9 million new investment from firms, led by Horizons Ventures, the venture capital fund established by Hong Kong multi-billionaire Li Ka-shing.

“We’re seeing sharing of short-form video emerge as a means of self-expression and entertainment for the current generation. We believe Medal’s platform will be a foundation for interactive social experiences beyond what you can find in a game,” says Jonathan Tam, an investor with Horizons Ventures .

Medal sees potential both in its social network and in the ability for game developers to use the platform as a marketing and discovery tool for the gaming audience.

“Friends are the main driver of game discovery, and game developers benefit from shareable games as a result. Medal.tv is trying to enable that without the complexity of streaming,” says Matteo Vallone, the former head of Google Play games in Europe and an angel investor in Medal.

Assets Web 1

It’s a platform that saw investors willing to fork over as much as $ 20 million for the company, according to chief executive Pim de Witte. “There are still too many risks involved to take capital like that,” de Witte says.

Instead, the $ 9 million from Horizons, and previous investors like Makers Fund, will be used to steadily grow the business.

“At Medal, we believe the next big social platform will emerge in gaming, perhaps built on top of short-form content, partially as a result of gaming publishers trying to build their own isolated gaming stores and systems,” said de Witte, in a statement. “That drives social fragmentation in the market and brings out the need for platforms such as Medal and Discord, which unite gamers across games and platforms in a meaningful way.”

As digital gaming becomes the social medium of choice for a generation, new tools that allow consumers to share their virtual experiences will become increasingly common. This phenomenon will only accelerate as more events like the Marshmello concert in Fortnite become the norm.

“Medal has the exciting potential to enable a seamless social exchange of virtual experiences,” says Ryann Lai, an investor from Makers Fund.


Social – TechCrunch


Catalyst raises $15M from Accel to transform data-driven customer success

July 30, 2019 No Comments

Managing your customers has changed a lot in the past decade. Out are the steak dinners and ballgame tickets to get a sense of a contract’s chance at renewal, and in are churn analysis and a whole bunch of data science to learn whether a customer and their users like or love your product. That customer experience revolution has been critical to the success of SaaS products, but it can remain wickedly hard to centralize all the data needed to drive top performance in a customer success organization.

That’s where Catalyst comes in. The company, founded in New York City in 2017 and launched April last year, wants to centralize all of your disparate data sources on your customers into one easy-to-digest tool to learn how to approach each of them individually to optimize for the best experience.

The company’s early success has attracted more top investors. It announced today that it has raised a $ 15 million Series A led by Vas Natarajan of Accel, who previously backed enterprise companies like Frame.io, Segment, InVision, and Blameless. The company had previously raised $ 3 million from NYC enterprise-focused Work-Bench and $ 2.4 million from True Ventures. Both firms participated in this new round.

Catalyst CEO Edward Chiu told me that Accel was attractive because of the firm’s recent high-profile success in the enterprise space, including IPOs like Slack, PagerDuty, and CrowdStrike.

When we last spoke with Catalyst a year and a half ago, the firm had just raised its first seed round and was just the company’s co-founders — brothers Edward and Kevin Chiu — and a smattering of employees. Now, the company has 19 employees and is targeting 40 employees by the end of the year.

Team Photo

In that time, the product has continued to evolve as it has worked with its customers. One major feature of Catalyst’s product is a “health score” that determines whether a customer is likely to grow or churn in the coming months based on ingested data around usage. CEO Chiu said that “we’ve gotten our health score to be very very accurate” and “we have the ability to take automated action based on that health score.” Today, the company offers “prefect sync” with Salesforce, Mixpanel, Zendesk, among other services, and will continue to make investments in new integrations.

One high priority for the company has been increasing the speed of integration when a new customer signs up for Catalyst. Chiu said that new customers can be onboarded in minutes, and they can use the platform’s formula builder to define the exact nuances of their health score for their specific customers. “We mold to your use case,” he said.

One lesson the company has learned is that as success teams increasingly become critical to the lifeblood of companies, other parts of the organization and senior executives are working together to improve their customer’s experiences. Chiu told me that the startup often starts with onboarding a customer success team, only to later find that C-suite and other team leads have also joined and are also interacting together on the platform.

An interesting dynamic for the company is that it does its own customer success on its customer success platform. “We are our own best customer,” Chiu said. “We login every day to see the health of our customers… our product managers login to Catalyst every day to read product feedback.”

Since the last time we checked in, the company has added a slew of senior execs, including Cliff Kim as head of product, Danny Han as head of engineering, and Jessica Marucci as head of people, with whom the two Chius had worked together at cloud infrastructure startup DigitalOcean.

Moving forward, Chiu expects to invest further in data analysis and engineering. “One of the most unique things about us is that we are collecting so much unique data: usage patterns, [customer] spend fluctuations, [customer] health scores,” Chiu said. “It would be a hugely missed opportunity not to analyze that data and work on churn.”


Enterprise – TechCrunch


Atlan raises $2.5M to stop enterprises from being so bad at managing data

July 2, 2019 No Comments

Even as much of the world is digitizing its governance, in small towns and villages of India, data about its citizens is still being largely logged on long and thick notebooks. Have they received the subsidized cooking gas cylinders? How frequent are the power cuts in the village? If these data points exist at all, they are probably stored in big paperbacks stacked in a corner of some agency’s office.

Five years ago, two young entrepreneurs — Prukalpa Sankar and Varun Banka — set out to modernize this system. They founded SocialCops, a startup that builds tools that make it easier for government officials — and anyone else — to quickly conduct surveys and maintain digital records that could be accessed from anywhere.

The Indian government was so impressed with SocialCops’ offering that it partnered with the startup on National Data Platform, a project to connect and bring more transparency within many of the state-run initiatives; and Ujjwala Yojana, a project to deliver subsidized cooking gas cylinders to poor women across the nation.

“This is a crucial step towards good governance through which we will be able to monitor everything centrally,” India’s Prime Minister Narendra Modi said of National Data Platform. “It will enable us to effectively monitor every village of the country.”

Two years ago, the duo wondered if the internal tools that they built for their own teams to manage their projects could help data teams around the world? The early results are in: Atlan, a startup they founded using learnings from SocialCops, has secured more than 200 customers from over 50 nations and has raised $ 2.5 million in pre-Series A funding led by Waterbridge Ventures, an early stage venture fund.

The startup, which employs about 80 people, has also received backing from Ratan Tata, Chairman Emeritus of conglomerate Tata Sons, Rajan Anandan, the former head of Google Southeast Asia, and 500 Startups. On Tuesday, Singapore-headquartered Atlan moved out of stealth mode.

The premise of Atlan’s products is simple. It’s built on the assumption that the way most people in enterprises deal with data is inefficient and broken, Sankar and Banka told TechCrunch in an interview. Typically, there is no central system to keep track of all these data points that often live in their own silos. This often results in people spending days to figure out what their compliance policy is, for instance.

“Atlan wants to democratize data inside organizations,” said Sankar.

Atlan Discovery 2

Teams within a typical company currently use a number of different tools to gather and manage data. Atlan has built products — dubbed Discovery, Grid, and Workflows — to create a collaboration layer, bringing together diverse data (from internal and external sources), tools and people to one interface.

“We are reimagining every human interaction with data. For instance, code has a profile on GitHub—what would a “profile” of data look like? What if you could share data as easily as a Google Sheets link, without worrying about the size or format? Or what would a data versioning and approval workflow look like? What if data scientists could acquire external data within minutes, instead of the months it takes right now?” said Banka.

The startup has also built a product called Collect that allows an organization to quickly deploy apps to collect granular data. These apps can collect data even when there is no internet connection. All of these data points, too, then find their way to the interface.

Atlan intends to use the capital it has raised on product development and sign more customers. It has already won some big names including Unilever, Milkbasket, Barbeque Nation, WPP and GroupM, Mahindra Group and InMobi in India, Chuan Lim Construction in Singapore, ServeHaiti in Haiti, Swansea University in the UK, the Ministry of Environment in Costa Rica, and Varun Beverages in Zambia.

In a prepared statement, Manish Kheterpal, Managing Partner at WaterBridge Ventures, said, “companies are struggling to overcome the friction that arises when diverse individuals need to collaborate, leading to project failure. The IPOs of companies like Slack and Zoom are proof that we live in the era of consumerization of the enterprise. With its sharp focus on data democratization, Atlan is well-positioned to reimagine the future of how data teams work.”

As for SocialCops, Sankar said it will live on as a data science community and pursue its signature “social good” mission.


Social – TechCrunch


Atlan raises $2.5M to stop enterprises from being so bad at managing data

July 2, 2019 No Comments

Even as much of the world is digitizing its governance, in small towns and villages of India, data about its citizens is still being largely logged on long and thick notebooks. Have they received the subsidized cooking gas cylinders? How frequent are the power cuts in the village? If these data points exist at all, they are probably stored in big paperbacks stacked in a corner of some agency’s office.

Five years ago, two young entrepreneurs — Prukalpa Sankar and Varun Banka — set out to modernize this system. They founded SocialCops, a startup that builds tools that make it easier for government officials — and anyone else — to quickly conduct surveys and maintain digital records that could be accessed from anywhere.

The Indian government was so impressed with SocialCops’ offering that it partnered with the startup on National Data Platform, a project to connect and bring more transparency within many of the state-run initiatives; and Ujjwala Yojana, a project to deliver subsidized cooking gas cylinders to poor women across the nation.

“This is a crucial step towards good governance through which we will be able to monitor everything centrally,” India’s Prime Minister Narendra Modi said of National Data Platform. “It will enable us to effectively monitor every village of the country.”

Two years ago, the duo wondered if the internal tools that they built for their own teams to manage their projects could help data teams around the world? The early results are in: Atlan, a startup they founded using learnings from SocialCops, has secured more than 200 customers from over 50 nations and has raised $ 2.5 million in pre-Series A funding led by Waterbridge Ventures, an early stage venture fund.

The startup, which employs about 80 people, has also received backing from Ratan Tata, Chairman Emeritus of conglomerate Tata Sons, Rajan Anandan, the former head of Google Southeast Asia, and 500 Startups. On Tuesday, Singapore-headquartered Atlan moved out of stealth mode.

The premise of Atlan’s products is simple. It’s built on the assumption that the way most people in enterprises deal with data is inefficient and broken, Sankar and Banka told TechCrunch in an interview. Typically, there is no central system to keep track of all these data points that often live in their own silos. This often results in people spending days to figure out what their compliance policy is, for instance.

“Atlan wants to democratize data inside organizations,” said Sankar.

Atlan Discovery 2

Teams within a typical company currently use a number of different tools to gather and manage data. Atlan has built products — dubbed Discovery, Grid, and Workflows — to create a collaboration layer, bringing together diverse data (from internal and external sources), tools and people to one interface.

“We are reimagining every human interaction with data. For instance, code has a profile on GitHub—what would a “profile” of data look like? What if you could share data as easily as a Google Sheets link, without worrying about the size or format? Or what would a data versioning and approval workflow look like? What if data scientists could acquire external data within minutes, instead of the months it takes right now?” said Banka.

The startup has also built a product called Collect that allows an organization to quickly deploy apps to collect granular data. These apps can collect data even when there is no internet connection. All of these data points, too, then find their way to the interface.

Atlan intends to use the capital it has raised on product development and sign more customers. It has already won some big names including Unilever, Milkbasket, Barbeque Nation, WPP and GroupM, Mahindra Group and InMobi in India, Chuan Lim Construction in Singapore, ServeHaiti in Haiti, Swansea University in the UK, the Ministry of Environment in Costa Rica, and Varun Beverages in Zambia.

In a prepared statement, Manish Kheterpal, Managing Partner at WaterBridge Ventures, said, “companies are struggling to overcome the friction that arises when diverse individuals need to collaborate, leading to project failure. The IPOs of companies like Slack and Zoom are proof that we live in the era of consumerization of the enterprise. With its sharp focus on data democratization, Atlan is well-positioned to reimagine the future of how data teams work.”

As for SocialCops, Sankar said it will live on as a data science community and pursue its signature “social good” mission.


Startups – TechCrunch


Retail Zipline raises $9.6M from Emergence and Serena Williams

May 17, 2019 No Comments

Retail Zipline, a startup aiming to improve communication between retail stores and corporate decision makers, announced today that it has raised $ 9.6 million in Series A funding.

CEO Melissa Wong previously worked in corporate communications for Old Navy, where she said she saw “such a disconnect between what was decided in headquarters and what was decided in stores.” For example, management might decide on a big marketing push to sell any remaining Mother’s Day-related items after the holiday has passed, but then “the stores wouldn’t do it.”

“The stores would say there were too many messages, they didn’t see the memo, they didn’t know it was a priority,” Wong said.

So she founded Retail Zipline with CTO Jeremy Baker, with the goal of building better communication tools for retailers. Baker said that while they looked at existing chat and task management software for inspiration, those tools were “mostly built for people sitting at a desk all day,” rather than workers who are “on the floor, dealing with customers.”

Retail Zipline’s features include messaging and task management — plus a centralized library of documents and multimedia and a survey tool to track results and feedback from stores.

Retail Zipline screenshot

To illustrate how the software is actually being used, Baker outlined a scenario where an athletic shoe company is launching “a huge initiative,” with a big-name athlete signed on to promote the latest pair of shoes.

“In a traditional environment, someone might FedEx over a package to [the store], someone might send an email down, ‘Hey, look for a package on this day,’ someone else from the marketing team might say, ‘Hey guys, we’re doing a shoe launch,’ ” he said. “All of this in these disparate systems, where people have to piece together the story. It’s kind of like a murder mystery.”

Baker said that Retail Zipline, on the other hand, provides a single place to find all the needed materials and tasks “tied together with a bow, instead of a store manager spending 10-plus hours in the back room trying to piece this thing together, or even worse not seeing it.”

The company’s customers include Casper, LEGO and Lush Cosmetics. Wong said Retail Zipline works “with anyone that has a retail location” — ranging from Gap, Inc. with thousands of stores, to Toms Shoes with 10.

The funding was led by Emergence, with Santi Subotovsky and Kara Egan from Emergence both joining the startup’s board of directors. Serena Williams’ new firm Serena Ventures also participated.

“As someone with an incredibly active life, I understand the need to be dynamic, and capable of quickly adapting to shifting priorities, but I’m also aware of the stress a fast-paced work environment can impose,” Williams said in a statement. “Retail Zipline is tackling this issue head-on in retail – a notoriously stressful industry – by pioneering products that help store associates get organized, communicate efficiently, and deliver amazing customer experiences.”


Startups – TechCrunch


Lola.com raises $37M to take on SAP and others in the world of business travel

March 26, 2019 No Comments

Business customers continue to be a huge target for the travel industry, and today a startup has raised a tidy sum to help it double down on the $ 1.7 trillion opportunity. Lola.com — a platform for business users to book and manage trips — has raised $ 37 million to continue building out its technology and hire more talent as it takes on incumbents like SAP targeting the corporate sector.

The Series C is led by General Catalyst and Accel, with participation from CRV, Tenaya Capital and GV. All are previous investors. We are asking about the valuation but it looks like prior to this, the company had raised just under $ 65 million, and its last post-money valuation, in 2017, was $ 100 million, according to PitchBook.

There are signs that the valuation will have had a bump in this round. The company said in 2018, its bookings have gone up by 423 percent, with revenues up 786 percent, although it’s not disclosing what the actual figures are for either.

“As business travelers have become increasingly mobile, Lola.com’s mission is to completely transform the landscape of corporate travel management,” said Mike Volpe, CEO of Lola.com, who took the top role at the company last year. “The continued support of our investors underscores the market potential, which is leading us to expand our partner ecosystem and double our headcount across engineering, sales and marketing. At the core, we continue to invest in building the best, simplest corporate travel management platform in the industry.”

Co-founded by Paul English and Bill O’Donnell — respectively, the former CTO/co-founder and chief architect of the wildly successful consumer travel booking platform Kayak — Lola originally tried to fix the very thing that Kayak and others like it had disrupted: it was designed as a platform for people to connect to live agents to help them organise their travel. That larger cruise ship might have already said, however (so to speak), and so the company later made a pivot to cater to a more specific demographic in the market that often needs and expects the human touch when arranging logistics: the business user.

Its unique selling point has not been just to provide a pain-free “agile” platform to make bookings, but for the platform’s human agents to be proactively pinging business users when there are modifications to a booking (for example because of flight delays), and offering help when needed to sort out the many aspects of modern travel that can be painful and time consuming for busy working people, such as technical issues around a frequent flyer program.

Lola.com is not the only one to spot the opportunity there. To further diversify its business and to move into higher-margin, bigger-ticket offerings, Airbnb has also been slowly building out its own travel platform targeting business customers by adding in hotels and room bookings.

There are others that are either hoping to bypass or complement existing services with their own takes on how to improve business travel such as TravelPerk (most recent raise: $ 44 million), Travelstop (an Asia-focused spin), and TripActions (most recently valued at $ 1 billion), to name a few. That speaks to an increasingly crowded market of players that are competing against incumbents like SAP, which owns Concur, Hipmunk and a plethora of other older services.

Lola.com has made some interesting headway in its own approach to the market, by partnering with one of the names most synonymous with corporate spending, American Express, and specifically a JV it is involved in called American Express Global Business Travel.

“Lola.com offers an incredibly simple solution to corporate travel management, which enables American Express Global Business Travel to take our value proposition to even more companies across the middle market,” said Evan Konwiser, VP of Product Strategy and Marketing for American Express GBT, in a statement.


Enterprise – TechCrunch


Mueller Report Says No Collusion, Barr Raises a Million Questions

March 25, 2019 No Comments

In a convoluted letter to Congress, Attorney General William Barr summarized Robert Mueller’s report on the Russia investigation and said he won’t charge President Trump with obstruction.
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Matterport raises $48M to ramp up its 3D imaging platform

March 5, 2019 No Comments

The growth of augmented and virtual reality applications and hardware is ushering in a new age of digital media and imaging technologies, and startups that are putting themselves at the center of that are attracting interest.

TechCrunch has learned and confirmed that Matterport, which started out making cameras but has since diversified into a wider platform to capture, create, search and utilise 3D imagery of interior and enclosed spaces in immersive real estate, design, insurance and other B2C and B2B applications, has raised $ 48 million. Sources tell us the money came at a pre-money valuation of around $ 325 million, although the company is not commenting on that.

From what we understand, the funding is coming ahead of a larger growth round from existing and new investors, to tap into what they see as a big opportunity for building and providing (as a service) highly accurate 3D images of enclosed spaces.

The company in December appointed a new CEO, RJ Pittman — who had been the chief product officer at eBay, and before that held executive roles at Apple and Google — also to help fill out that bigger strategy.

Matterport had raised just under $ 63 million prior to this and had been valued at around $ 207 million, according to PitchBook estimates.This current round is coming from existing backers, which include Lux Capital, DCM, Qualcomm Ventures and more.

Matterport’s roots are in high-end cameras built to capture multiple images to create 3D interior imagery for a variety of applications from interior design and real estate to gaming. Changing tides in the worlds of industry and hardware have somewhat shifted its course.

On the hardware side, we’ve seen a rise in the functionality of smartphone cameras, as well as a proliferation of specialised 3D cameras at lower price points. So while Matterport still sells its own high-end cameras, it is also starting to work with less expensive devices with spherical lenses — such as the Ricoh Theta, which is nearly 10 times less expensive than Matterport’s Pro2 camera — and smartphones.

Using an AI engine — which it has been building for some time — packaged into a service it calls Matterport Cloud 3.0, it converts 2D panoramic and 360-degree images into 3D ones. (Matterport Cloud 3.0 is currently in beta and will be launching fully on the 18th of March, initially supporting the Ricoh Theta V, the Theta Z1, the Insta360 ONE X, and the Leica Geosystems BLK360 laser scanner.)

Matterport is further using this technology to grow its wider database of images. It already has racked up 1.6 million 3D images and millions of 2D images, and at its current growth rate, the aim is to expand its library to 100 million in the coming years, positioning it as a Getty for 3D enclosed images.

These, in turn, will be used in two ways: to feed Matterport’s machine learning to train it to create better and faster 3D images; and to become part of a wider library, accessible to other businesses by way of a set of APIs.

And, from what I understand, the object will not just to be use images as they are: people would be able to manipulate the images to, for example, remove all the furniture in a room and re-stage it completely without needing to physically do that work ahead of listing a house for sale. Another is adding immersive interior shots into mapping applications like Google’s Street View.

“We are a data company,” RJ Pittman told me when I met him for coffee last month.

The ability to convert 2D into 3D images using artificial intelligence to help automate the process is a potentially big area that Matterport, and its investors, believe will be in increasing demand. That’s not just because people still think there will one day be a bigger market for virtual reality headsets, which will need more interesting content; but because we as consumers already have come to expect more realistic and immersive experiences today, even when viewing things on regular screens; and because B2B and enterprise services (for example design or insurance applications) have also grown in sophistication and now require these kinds of images.

(That demand is driving the creation of other kinds of 3D imaging startups, too. Threedy.ai launched last week with a seed round from a number of angels and VCs to perform a similar kind of 2D-to-3D mapping technique for objects rather than interior spaces. It is already working with a number of e-commerce sites to bypass some of the costs and inefficiencies of more established, manual methods of 3D rendering.)

While Matterport is doubling down on its cloud services strategy, it’s also been making some hires to take the business to its next steps. In addition to Pittman, they have included adding Dave Lippman, formerly design head at eBay, as its chief design officer; and engineering veteran Lou Marzano as its VP of hardware, R&D and manufacturing, with more hires to come.


Enterprise – TechCrunch


Circle raises $20M Series B to help even more parents limit screen time

February 24, 2019 No Comments

Circle makes a fantastic screen time management tool and today the company announced a round of funding to help fuel its growth. The $ 20 million Series B included participation from Netgear and T-Mobile, along with Third Kind Venture Capital and follow-on investments from Relay Ventures and other Series A participants.

With this round of funding, Circle has raised more than $ 30 million to date, including a Series A from 2017.

According to the company, Circle intends to use the funds to expand its product offering and form new partnerships with hardware makers and mobile carriers.

The timing is perfect. Parents are increasingly looking at ways to make sure children and teenagers do not become addicted to screens.

Circle works different from other solutions attempting to limit screen time. It’s hardware based and sits plugged into a home’s network. It allows an administrator, like a parent, to easily restrict the amount of time a device, such as an iPhone owned by a child, is able to access the local network. It’s easy and that’s the point.

Circle sits in a small, but growing field of services attempting to give parents the ability to limit their child’s screen time. Some of these solutions, like Apple’s, sit in the cloud. And though Apple’s works well, it is limited to iOS and Mac OS devices. Others, like those on Netgear’s Orbi products, offer a similar network-wide net, but are much harder to use than Circle.

In my household we use tools like Circle. The lure of the screen is just too great and these solutions, when used in combination with traditional parenting, ensure my children stare into the real world — at least for a few minutes a day.

Gadgets – TechCrunch


Netflix Raises Prices to Stockpile for the Streaming Wars

January 15, 2019 No Comments

The company needs more cash for content and global expansion—and it’s still cheaper than a lot of streaming services.
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