Tech Funding Recap for June 16, 2021

The world is becoming more reliant on technology as time goes on. We count on devices and software to provide conveniences and insight that go beyond what we had access to in the past. Businesses are meeting the growing demand by raising funds to produce products that make life easier.

Replit and CrowdStrike are two companies that have closed funding campaigns and made financial moves to grow their business. Read on to find out what to expect from them in the coming months and years.

Replit

Replit is a San Francisco based firm that makes coding easy. It offers a browser based integrated development environment that allows users to begin coding with minimal preparation and zero downloads. It can be used to build apps and websites on any operating system or device.

The platform supports more than 50 programming languages. Users can create co-working spaces, share projects and information and grant access to containers for executing code. The ease of use it provides has made it popular with major firms with a client base that includes big names like Google, Facebook, and Stripe.

Developers typically use a desktop-based IDE that requires a text editor to code as well as a secondary code hosting service to run the code. Replit puts everything on one browser and provides live chat to facilitate communication between developers working on the project, making the process much more convenient. It integrates directly with GitHub so users are not required to access a separate code hosting service.

Replit is ideal for beginner coders as it offers a free starter plan that levels the playing field when it comes to coding experience. It also facilitates coding across devices.

The company recently announced the closing of a $20 million funding round that will be completed in 2020. The money will be used for hiring, R&D, and expanding platform features.

CrowdStrike

Cyber threats are something everyone should be aware of. CrowdStrike keeps the internet safer by providing cloud native cybersecurity that focuses on endpoint protection and threat intelligence for businesses. They recently announced plans to acquire U.K. startup Humio, a move that will allow the firm to expand its detection and response capabilities.

CrowdStrike is effective in helping companies detect threats by monitoring entry points like employee mobile devices and laptops to prevent breaches. Humio is an up-and-coming log analysis and observability company that will assist with CrowdStrike’s capabilities by correlating data from logs, feeds, and applications to provide real time protection.

The need for cybersecurity has increased considerably during the pandemic as individuals and companies became more dependent on the internet. Acquisitions are a popular method of growth within the industry as CrowdStrike rival Datadog enhanced its app security and observability potential by acquiring Sqreen and Timber. New Relic made a similar move in acquiring Pixie Labs.

The CrowdStrike-Humio merger comes on the tail of Humio closing a $30 million funding campaign backed by major players like Accel and Dell. The transaction was a cash deal worth approximately $400 million.

Tech Funding Recap June 9, 2021

The tech industry is booming. Companies are growing to meet the demand of an ever-changing landscape by updating, releasing new products and expanding their businesses.

Reprise and Census are two companies who have recently completed funding campaigns to move their businesses forward. This article will recap their efforts and provide insight on what they have coming for the future.

Reprise

When it comes to increasing conversions, the way a company advertises its products is so important. Reprise provides the tools for optimal product presentation with a software demo platform geared towards enterprise sales and marketing teams.

The software allows companies to create demos in video format, one of the most effective ways to increase sales. They take it a step further with capabilities that allow clients to modify presentations adding animated and interactive features. Additionally, their role specific access controls reduce the risk of unauthorized modifications.

Reprise also offers performance and analytics data. Clients who use the software can benefit by seeing what is engaging their customers most. They can go from there to focus on what’s working and eliminate what’s not. The platform also claims to load pages ten times faster than production apps.

The Boston based company offers a solution to many clients who were looking for a usable software demo. They recently announced the closing of a $17 million funding campaign. The funds follow a $3 million seed investment and will be used to expand the platform and hire new employees.

Census

Businesses thrive on data. But how many of them effectively use the data they have collected?

Census develops tools that help companies apply the data they collect to help them grow their businesses. In doing so, it aims to transform the role of the data team to make it more central to the enterprise.

The company’s software allows their clients to collect data and store it in a data warehouse where it’s accessible and visible. It syncs the data to the applications the business uses allowing employees to put it to use.

Census’s system allows companies to employ SQL code that creates a single definition of the data that is stored. This gives teams the capability to build a series of internal products that can boost sales, marketing and product development.

The tool requires a bit of SQL and data skills to use. Once put in effect, it defines the difference between being data driven and data informed.

Census CEO Boris Jabes believes their tool will create a more centralized role for the data teams within companies. He foresees a time when organizations will be naming VP’s of data who will be at the core of developing company strategies.

The company’s unique solution has caused it to increase its client base throughout the years. It now boasts 50 customers with many angel investors included in its client list. Recognizable names like Cava, Drizly, Figma, Notion, and Loop are among those the company serves.

Census recently announced that it had raised $16 million in venture capital making for a total of $20 million so far. The money will be used to continue expansion in its engineering and production departments.

Tech Funding Recap for June 2, 2021

Technology is booming. Companies are keeping up by raising funds to create cutting edge products that will meet demands.

Creatio and Avid Ventures are two firms that have reached their campaign goals in recent months. Read on to find out how they will be using the money they raised.

Creatio

Automation is where it’s at. Creatio provides useful automation technology with a low code studio that allows businesses to automate any of their internal processes through a drag and drop interface. Menial tasks that include anything from onboarding to emailing to uploading documents can be done with the click of a mouse with the Creatio platform.

Creatio integrates with external tools like Microsoft Exchange, Excel, Google as well as social media networks, productivity tools and advanced templates. It also allows businesses to customize their own integrations with third party apps.

The company is on the pulse of technology as the process automation space is growing in leaps and bounds. Growth has increased even more due to the pandemic which boosted a reliance on all things digital.

There are several companies following in Creatio’s footsteps including the German-based process automation startup Next Matter which just announced plans to expand in the United States.

Microsoft is also upping its game announcing a new process advisor tool that identifies automation potential and expands on the platform’s existing RPA toolset.

Creatio has grown exponentially considering it has not relied on any external funding. The company recently closed a $68 million round of funding which they will use to build aggressively with plans to invest in marketing, sales and R & D.

Avid Ventures

Avid Ventures is a female owned company that takes a unique, hands on approach in boosting the growth of transformative companies. They make small initial investments and work alongside companies helping them to develop and invest more as they grow. They offer strategic finance support and work as a member of their partner’s teams.

Avid was founded by Addie Lerner, a former investor at large firms including Goldman Sachs, General Atlantic and General Catalyst. She teamed up with Tali Vogelstein, a former investor at Bessemer Venture Partners. Vogelstein was responsible for much of Avid’s early-stage investments.

Lerner is interested in taking on a role of external chief financial officer with the companies she invests in. She wants to form a deeper relationship with her partners in comparison to what’s considered practical at other venture firms.

The company has limited partners that include entrepreneurs, investors and strategic founders, 40% of whom are female. They specialize in everything from pre-series A rounds to series B rounds and have invested in many female-owned companies in the credit, healthcare brokerage, coworking, mortgage and identity verification industries.

Previous investments include $450 million which was essential in the growth of software, consumer internet and fintech companies throughout Europe, North America and Israel.

Avid recently completed a $68 million funding round. The money will be used to continue investing in companies and increasing growth. Although some of the money will be used during the small investment A series stage, most of it will be dedicated during the B series as companies are better targeted for growth.

Tech Funding Recap for May 17, 2021

There is no doubt that the tech industry is booming. Companies are keeping up by raising money that they can devote to growing their businesses so they can develop innovative products that will make life more convenient.

Swap and Trip Actions are two companies worthy of recognition for their fundraising efforts as well as their new product developments. Read on to find out what they’ve been up to in the past couple of months.

Swapp

The construction industry is vital to almost everything we do. Without this booming life force, we wouldn’t have buildings to live in, buildings to work out of, and life would basically come to a standstill. Every year, organizations raise billions of dollars to fund infrastructure projects that are the foundation of our existence.

But the construction process is not so simple. It requires a variety of contractors including architects, engineers, and land surveyors. Waiting on everyone to get on the same page slows the process down significantly.

Swapp is speeding things up by introducing an AI powered platform that eliminates the need to bring in so many experts. Contractors can simply upload site, floor drawings, and requirements for the exterior and interior of the project. Customers receive a selection of algorithmically generated cost and time efficient planning options to choose from.

The system takes tasks like initial mass planning and the analyzing of architecture typologies and automates them. It integrates with third party platforms around the world. It takes the information it has gathered and presents it via a dashboard that can be viewed on the web.

The company recently announced it raised $7 million in venture capital. This will be used towards growing its platform’s AI capabilities and continuing the company’s market expansion.

Trip Actions

When it comes to travel, we all like to find the most convenient flights and accommodations at the most affordable prices. Trip Actions is a booking and management platform that offers real time data and insight into business and travel expenses.

The company’s AI enabled system gives clients information on flights, car rentals, and accommodations, as well as round the clock access to travel agents worldwide. But where it really shines is in its ability to offer an end-to-end tool that encompasses travel and expense management.

The Trip Action system offers a spend management platform that companies can use to filter and view travel and expense data. With all the data in one place, it is easier for them to run reports that allow them to assess real time spend so they can budget accordingly.

The platform relies heavily on AI and machine learning to suggest flights and hotels based on the customer’s preferences and past travel behavior. Its ability to classify each expense into a category, detect items that aren’t under company policy, and align spending with corporate events makes it even more convenient.

The company recently announced the closing of a $155 million series E round of funding. As a result, the organization is now valued at $5 billion, up from its $4 billion dollar evaluation after its D round series 18 months ago.

Tech Funding Recap for May 10, 2021

Looking around us we can see just how much our lives have been changed by technology. The gadgets we use on a daily basis help make life more practical and more convenient. And there continues to be a demand for more products and services to further expedite processes.

Tech companies are meeting the call raising funds to provide products to meet these demands. Soci and Valtix are two on the cutting edge when it comes to being innovators in their field. Read on to find out more about their funding efforts.

Valtix

An increased reliance on tech has made lives more convenient, but it also makes cybersecurity more of an issue. Valtix is a cloud native security platform that is answering the call by filling gaps in application and network security across multiple cloud environments. Their system combines user security, data leakage, endpoint security, app firewall, malware protection, and intrusion detection.

The company’s representatives feel that the cloud will be leading the way in terms of infrastructure for the foreseeable future. Therefore, they are focusing on the public cloud in the creation of their system and other company goals.

The Valtix platform went live last year and works with Microsoft Azure, AWS, and Google Clouds. It encompasses industries including finance, retail, government, and health care. The company believes its widely spanning system will provide a solution for customers who would otherwise need to rely on multiple vendors for a security system or who would be forced to employ a system that was not adequate in meeting their needs.

The company recently raised $12.5 million in venture capital with the help of key strategic partners. The money will be used to address and improve the architecture of their system and increase focus on cloud security.

Soci

The pandemic has caused many businesses to redouble their efforts in the e-commerce space. This is especially challenging for retailers with more of a brick and mortar focus. Soci introduces a platform that helps brick and mortar businesses launch localized marketing campaigns that will help them reach online audiences.

Soci’s platform is based on a concept of using social media local pages and online review pages to lure customers away from Amazon and other major online retailers. It provides clients with the capabilities to manage local searches and maintain accurate information that is specific to their location. Its ability to connect with local audiences on major networks like Google, Yelp, and Facebook has been instrumental in helping businesses survive the pandemic.

The system also offers analytics that help clients determine how their locations are doing in terms of engagement and social reach. It integrates with touchpoints that are typically responsible for bringing in customers including Facebook, Google and Yelp.

The San Diego company recently announced the closing of a D round series that has yielded $80 million in funding. The money will be used to further improve their platform providing retailers with the tools that are so vital in our current economic climate.

Tech Funding Recap for May 3, 2021

Technology has played a major role in making our lives more convenient. Yet demand continues to grow when it comes to a need for products that do more, better, and faster.

Companies are answering the call by raising funds that will help them satisfy these demands. Wingcopter are Marxent are two organizations that have recently completed funding rounds that will help them grow their business. Here’s a recap of their accomplishments.

Marxent

The pandemic has taken everything to a virtual platform and, with the conveniences offered, the online medium shows no signs of slowing down any time soon. Marxent is riding the wave with a 3D home design platform that will make it easier for designers to sell products and services to customers.

Marxent’s 3D Cloud platform replicates everything from furnishings to fully designed rooms. It uses a complex technology to provide an authentic look that gives consumers a good idea of what to expect from the end product. It presents a more convenient way for customers to preview and buy products.

Marxent recently completed a $15 million funding round which will put them in a position to further develop their platform. This is significant in that it sets a path for solutions that will transform 2D photos and real world objects into digital twins that can be viewed on anything from a computer to a mobile device to mixed reality headsets. The technology is being picked up by big box retailers like Macy’s who use Marxent’s 3D Room Planner to sell furniture in-store using VR goggles.

The company will be using the funds it recently raised to expand the home categories they work in and form strategic partnerships with online platforms. They will also be opening offices in new locations to grow across Europe and other markets.

Wingcopter

With the coronavirus keeping many people at home, the need for door to door delivery services has been on the rise. Drones have been integrated to take on some of the burden. Germany based drone manufacturer, Wingcopter, is upping their drone technology to meet demands primarily focusing on the healthcare space.

The company specializes in the delivery of medical goods, packages and food but the coming of the vaccine has caused them to make medical supplies a priority for the time being. Their drones are efficient in delivering vaccines to different locations ensuring they get out to people quickly.

The drones the company manufactures have advanced capabilities and are able to operate in wind gusts of over 45 miles an hour, fly at speeds of 150 miles per hour and carry loads of up to 13 lbs. Their electric powered drones feature a tilt rotor mechanism that allows them to take off and land vertically like multicopters. The company recently partnered with Merck and the Frankfurt University of Applied Sciences to launch what they claim was the world’s first drone beyond visual line of sight flight between production facilities flying lab samples 15.5 miles.

Marxent recently announced the closing of a $22 million funding round. The proceeds will be used to expand its healthcare related activities, prepare for the upcoming launch of its next-gen drones, set up a partially automated production facility and grow its U.S. team.

Tech Funding Recap for April 19, 2021

Technology has gone far in making the world a more convenient place to live in, and it shows no signs of stopping. Tech-based companies are keeping up by raising funds to develop new products and make improvements to existing products.

Bolt and Verge Sense are two companies on the cutting edge that have recently closed funding campaigns that are helping them move forward. Read on to find out about their efforts.

Bolt

The pandemic has helped the e-commerce industry to grow in leaps and bounds. The downside is that it has also increased the occurrence of fraud that is likely to happen on online platforms. Bolt presents a solution with a machine learning system that fights e-commerce fraud.

The San Francisco-based company provides tools that streamline website transactions. They started out with systems revolving around currency in online checkouts but shifted their focus due to the prevalence of online fraud. Their current platform integrates with platforms like Shopify, Magento, Woocommerce, Salesforce, Commerce Cloud, and BigCommerce via their fraud detection system.

The system works by capturing mouse pointer locations, accuracies, typing speeds, copy and pasting behaviors, cart and checkout behavior. It uses machine learning algorithms to analyze variables in each transaction. Customers who seem suspicious are prompted for additional information before they can complete their orders.

In addition to being effective, the system is also ten times faster than their competitors as customers are not required to enter as much information before making a purchase.

Bolt recently announced the closing of a $75 million funding round which came in after a successful year in retail transactions.

VergeSense

Now that we are seeing a light at the end of the coronavirus pandemic tunnel, many employers are looking to bring their workers back into the office. VergeSense is making the process more convenient with their proprietary deep learning sensors that provide analytics as to how physical office space is being used. This will help control capacity and minimize overcrowding

VergeSense was founded in San Francisco in 2017 and is known for developing hardware and software to capture key data across the physical work space. Their system relies on sensors that detect motion, people, and objects. This is transformed into data that allows customers to understand what spaces are being used, when they are being used and by how many people.

The system uses a convolutional neural network (CNN), along with patented deep learning algorithms to determine how a room is being occupied. It then creates a mesh network so the sensors in the building can communicate with one another. It can be used wired or wirelessly and it is a convenient tool for businesses and building owners looking to adapt their spaces according to how they are being used.

VergeSense recently announced the closing of a $12 million B round funding campaign which will help the company further develop their technology. They have seen substantial growth in 2020 and they are expected to continue on that trajectory as more businesses welcome workers into the office in 2021.  

Tech Funding Recap for April 12, 2021

There is no doubt that the tech space is booming. Companies on the cutting edge are keeping up by raising funds and making acquisitions to improve and develop their products on an ongoing basis. Graphcore and Honeywell are two companies that have been upping their game in the past few months. Read on to find out more about their funding efforts and what they are bringing to the table.

Graphcore

When it comes to tech, AI is what drives it all. These intuitive systems are programmed to think like humans and play an integral role in machine learning and problem solving.

Graphcore brings new AI developments to the table with Intelligence Processing Units (IPUs) that are effective in speeding up AI applications. They are most focused on natural networks, deep learning, and machine learning. Their multicore design targets low precision arithmetic or in-memory computing, both of which enhance AI algorithm performance, resulting in improved natural language processing and computer vision, as well as boosts in other domains.

The company is a Bristol, UK-based startup that was founded in 2016. Its first commercial release was a 16-nanometer PCI express card known as C2. The card became available in 2018 and launched on Microsoft Azure in 2019 for the consumer market. It was responsible for breakthroughs in natural learning and machine intelligence.

Earlier this year, the company partnered with Dell to launch Cirrascale IPU Bare Metal Cloud, an IPU managed service from the Cirrascale Cloud provider. It also open sourced its libraries for building and executing apps on IPUs.

Graphcore recently announced that it raised $222 million in a series E funding led by the Ontario Teachers’ Pension Plan Board. The money will be used to support the company’s global expansion and continue to accelerate silicon systems and software development in the future.

Honeywell

Honeywell is another company active in the AI space. It announced that it will acquire Sparta Systems for $1.3 billion. This will allow it to gain control of quality management software (QMS) that will bring improvements to machine learning algorithms and other Ai capabilities. It will make the next phase of their development process possible.

The Honeywell company focuses on the life sciences sector and is making moves to integrate TrackWise digital QMS software from Sparta with internet of things (IoT) platforms. The goal of the project is to augment human decision making AI technology. The resulting algorithms should put a system into motion that analyzes data in real time and executes the processes in a measure of time that is mere milliseconds or even microseconds.

The merging of machine learning and application infused logic represents the next wave of IT. It presents an alternative to processing data through legacy batch mode processes that require data to be transferred to the cloud or a local datacenter. Instead, it allows data to be processed in real time speeding things up considerably.

Once data is processed, it can be shared with other applications. This will enable organizations to manage industrial IoT processes on a larger scale making workflows more manageable.

Tech Funding Recap for April 5, 2021

Technology is booming. Companies that are on the cutting edge are destined to shine in bringing innovative products to the world. They are working on funding campaigns that will help them keep up with the demand so they can continue churning out the products that are becoming vital to our lives.

AMP Robotics and Ducky Channel are two companies that have successfully recently completed their funding rounds. Read on to find out how the funds will be applied and to learn about the new developments they have coming.

AMP Robotics

According to the Environmental Protection Agency’s data the United States generated about 262 million tons of municipal waste in 2015. 91 tons of that waste was recycled and composted. However, the pandemic has caused many businesses to suspend recycling operations bringing down the amount of waste that is properly disposed of.

AMP Robotics presents a solution in the form of robotic systems that sorts recyclable material. The Denver-based company offers a platform that delivers pick up rates that are 80 items per minute higher than manual processes.

Its modular design allows facility managers to adapt it to existing workflows, and it can be tailored to individual brands and the SKU’s of the products being recycled. The AMP Robotic system can sort items like metals, batteries, capacitors, mixed plastics concrete, mixed wood, aluminum, thin film by color… and the list goes on.

The waste sorting robotics market is set to reach $12.6 billion dollars by 2024, yielding an annual growth rate of 16.52%. to keep up. AMP has recently closed a $55 million series B funding round. The funds will be used to scale business operations and develop AI applications that work with material recovery facilities to increase recycling rates.

Ducky Channel

Hypercasual games are simple games that are commonly played on mobile devices and they can be made almost anywhere in the world. Ducky Channel is a company based out of Russia that is responsible for games that have been played 145 million times and have generated $1 million in monthly revenue.

Hypercasual games are low commitment and, therefore, they can be played almost anywhere. You can play them during breaks at work, while waiting in line at the store, or even in the bathroom. They appeal to busy people with short attention spans and are a hit with both young and older generations. Their popularity has caused them to rank on top 100 lists and generate billions of dollars, with 95% of the revenue coming from ad sales.

Ducky’s games have been downloaded at least 25 million times and are accessed by users all over the world. Their games have been played in the United States, China, the United Kingdom, and Japan. The company tests their games and acquires feedback at rapid speed. The feedback is then passed on to developers. They take 50-50 splits of profit sharing and invest in hits as they are generated.

Ducky’s teams have developers all over the world. Their profitability has allowed them to raise $1 million in funding which will be used to continue their rapid developing and testing process.

Tech Funding Recap for March 15, 2021

Technology is growing in leaps and bounds. There is a constant need for developments that add convenience to our lives, and companies are answering the call, raising funds to contribute to innovative products and services.

Beyond Minds are Afresh are two companies that have reached their financial goals for March 2021. This article will outline their recent efforts and how the funding will be put to use.

Beyond Minds

AI is an integral part of tech. Research shows that business use of AI has increased by 270% in the last four years alone.

Beyond Minds offers a modular AI technology stack that is used in the development of enterprise products. The company provides innovative datasets and representations that are key in training computer vision, natural language, text to speech, and time series models scaled down to run in small computer environments.

The organization consults with companies to assess their AI needs to create and deploy suitable customized products. Then they continue to monitor and improve their products using live data and feedback to optimize their effectiveness in the given application.

Their efforts are not entirely new to the tech space. Similarities have been drawn to Data Robot’s AI platform. However, Beyond Minds takes it a step further by stabilizing machine learning solutions bringing trust, monitoring and feedback to an otherwise “dynamic and noisy” tech space.

The company serves a variety of industries including finance and government. They have worked with notable corporations, such as Samsung, KPMG, Microsoft and leading defense companies and financial institutions. Their product line includes fraud detection, defect detection, predictive maintenance, risk assessment, underwriting, and claim automation.

Beyond Minds has recently announced the completion of a $15 million funding round. The majority of the funds will be devoted to sales and R&D.

Afresh

The Afresh company brings convenient technology to the agricultural space by introducing a fresh food optimization platform for grocers. It is aimed to improve freshness, sales, and profitability. Based on the latest research, the product has yielded a 25% decrease in food waste and a 2-4% revenue growth overall, with a 40% or more increase in the produce operating margin.

Additionally, employees who use Afresh find it to be a time saving tool and are now able to devote more hours to helping customers and merchandising fresh produce. The platform has been valuable during the pandemic, as it helped fresh departments adapt during unpredictable times.

The demand for fresh produce has increased over the past year, and Afresh has been boosting their resources to keep up. They have doubled in size from 2019 to 2020 and are expected to double again in 2021. Their expansion efforts are also set to support critical functions across supply chain, store operations, and merchandising for all fresh categories in the coming months.

The $13 million they have raised in funding will support their growth efforts. They also recently added grocery industry veteran James McCann, CEO of Food Retail Ventures, and former CEO of Ahold USA, to their board of directors.