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March 25, 2019
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Enterprise

HoneyBook, a client management platform for creative businesses, raises $28M Series C led by Citi Ventures

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HoneyBook co-founders Oz and Naama Alon

HoneyBook, a customer-relationship management platform aimed at small businesses in creative fields, announced today it has raised a $28 million Series C led by Citi Ventures. All of its existing investors, including Norwest Venture Partners, Aleph, Vintage Investment Partners and Hillsven Capital, also returned for the round. Citi is a strategic partner for HoneyBook and this will enable it to offer new financial products to freelancers, its co-founder and CEO Oz Alon told TechCrunch.

This brings HoneyBook’s total raised so far to $72 million. It is using the funds to grow its teams in San Francisco and Tel Aviv and build new features for its user base, including small companies, people who work by themselves (“solopreneurs”) and freelancers. Like other CRMs, HoneyBook helps them develop relationships with potential new clients, manage projects, send invoices and accept payments, but with tools scaled for their business’ needs.

Alon told TechCrunch in an email that one segment HoneyBook is focused on is millennials (he cites a survey that found 49 percent of people under 40 plan to start their own business). HoneyBook currently claims tens of thousands of customers and has passed $1 billion in business booked using its software, along with 75,000 members in Rising Tide, the company’s online community for creative entrepreneurs.

Other management software platforms competing for the attention of entrepreneurs and freelancers include Tave, Dubsado and 17hats. One of the main ways HoneyBook differentiates is by enabling its users to accept online payments without integrating with a third-party service. Thanks to this, its users “transact more than 80 percent of their business online, significantly more than any other payments platform serving this audience, Alon said. It’s partnership with Citi will also allow the company to develop more unique services for its target customers, he added.

In a prepared statement, Citi Ventures’ Israel director and venture investing lead Omit Shinar said “We are in the midst of a period of extensive changes in societal structures and economic models. The fintech ecosystem is producing more and more breakthrough innovations that serve the needs of modern consumers, and we believe, as a pioneer in its space, HoneyBook can become a market leader in the U.S.”

News Source = techcrunch.com

Skedulo raises $28M for its mobile workforce management service

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Skedulo, a service that helps businesses manage their mobile employees, today announced that it has raised a $28 million Series B funding round led by M12, Microsoft’s venture fund. Existing investors Blackbird and Castanoa Ventures also participated in this round.

The company’s service offers businesses all the necessary tools to manage their mobile employees, including their schedules. A lot of small businesses still use basic spreadsheets and email to do this, but that’s obviously not the most efficient way to match the right employee to the right job, for example.

“Workforce management has traditionally been focused on employees that are sitting at a desk for the majority of their day,” Skedulo CEO and co-founder Matt Fairhurst told me. “The overwhelming majority — 80 percent — of workers will be deskless by 2020 and so far, there has been no one that has addressed the needs of this growing population at scale. We’re excited to help enterprises confront these challenges head-on so they can compete and lean into rapidly changing customer and employee expectations.”

At the core of Skedulo, which offers both a mobile app and web-based interface, is the company’s so-called “Mastermind” engine that helps businesses automatically match the right employee to a job based on the priorities the company has specified. The company plans to use the new funding to enhance this tool through new machine learning capabilities. Skedulo will also soon offer new analytics tools and integrations with third-party services like HR and financial management tools, as well as payroll systems.

The company also plans to use the new funding to double its headcount, which includes hiring at least 60 new employees in its Australian offices in Brisbane and Sydney.

As part of this round, Priya Saiprasad, principal of M12, will join Skedulo’s board of directors. “We found a strong sense of aligned purpose with Priya Saiprasad and the team at M12 — and their desire to invest in companies that help reduce cycles in a person’s working day,” Fairhurst said. “Fundamentally, Skedulo is a productivity company. We help companies, the back-office and mobile workforce, reduce the number of cycles it takes to get work done. This gives them time back to focus on the work that matters most.”

News Source = techcrunch.com

Suse is once again an independent company

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Open-source infrastructure and application delivery vendor Suse — the company behind one of the oldest Linux distributions — today announced that it is once again an independent company. The company today finalized its $2.5 billion acquisition by growth investor EQT from Micro Focus, which itself had acquired it back in 2014.

Few companies have changed hands as often as Suse and yet remained strong players in their business. Suse was first acquired by Novell in 2004. Novell was then acquired by Attachmate in 2010, which Micro Focus acquired in 2014. The company then turned Suse into an independent division, only to then announce its sale to EQT in the middle of 2018.

It took a while for Micro Focus and EQT to finalize the acquisition, though, but now, for the first time since 2004, Suse stands on its own.

Micro Focus says that when it acquired Attachmate Group for $2.35 billion, Suse generated just 20 percent of the group’s total revenues. Since then, Suse has generated quite a bit more business as it expanded its product portfolio well beyond its core Linux offerings and into the more lucrative open-source infrastructure and application delivery business by, among other things, offering products and support around massive open-source projects like Cloud Foundry, OpenStack and Kubernetes.

Suse CEO Nils Brauckmann will remain at the helm of the company, but the company is shaking up its executive ranks a bit. Enrica Angelone, for example, has been named to the new post of CFO at Suse, and Sander Huyts is now the company’s COO. Former Suse CTO Thomas Di Giacomo is now president of Engineering, Product and Innovation. All three report directly to Brauckmann.

“Our genuinely open, open source solutions, flexible business practices, lack of enforced vendor lock-in and exceptional service are more critical to customer and partner organizations, and our independence coincides with our single-minded focus on delivering what is best for them,” said Brauckmann in today’s announcement. “Our ability to consistently meet these market demands creates a cycle of success, momentum and growth that allows SUSE to continue to deliver the innovation customers need to achieve their digital transformation goals and realize the hybrid and multi-cloud workload management they require to power their own continuous innovation, competitiveness and growth.”

Since IBM recently bought Red Hat for $34 billion, though, it remains to be seen how long Suse’s independent future will last. The market for open source is only heating up, after all.

News Source = techcrunch.com

Microsoft open sources its data compression algorithm and hardware for the cloud

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The amount of data that the big cloud computing providers now store is staggering, so it’s no surprise that most store all of this information as compressed data in some form or another — just like you used to zip your files back in the days of floppy disks, CD-ROMs and low-bandwidth connections. Typically, those systems are closely guarded secrets, but today, Microsoft open sourced the algorithm, hardware specification and Verilog source code for how it compresses data in its Azure cloud. The company is contributing all of this to the Open Compute Project (OCP).

Project Zipline, as Microsoft calls this project, can achieve 2x higher compression ratios compared to the standard Zlib-L4 64KB model. To do this, the algorithm — and its hardware implementation — were specifically tuned for the kind of large data sets Microsoft sees in its cloud. Because the system works at the systems level, there is virtually no overhead and Microsoft says that it is actually able to manage higher throughput rates and lower latency than other algorithms are currently able to achieve.

Microsoft stresses that it is also contributing the Verilog source code for register transfer language (RTL) — that is, the low-level code that makes this all work. “Contributing RTL at this level of detail as open source to OCP is industry leading,” Kushagra Vaid, the general manager for Azure hardware infrastructure, writes. “It sets a new precedent for driving frictionless collaboration in the OCP ecosystem for new technologies and opening the doors for hardware innovation at the silicon level.”

Microsoft is currently using this system in its own Azure cloud, but it is now also partnering with others in the Open Compute Project. Among these partners are Intel, AMD, Ampere, Arm, Marvell, SiFive, Broadcom, Fungible, Mellanox, NGD Systems, Pure Storage, Synopsys and Cadence.

“Over time, we anticipate Project Zipline compression technology will make its way into several market segments and usage models such as network data processing, smart SSDs, archival systems, cloud appliances, general purpose microprocessor, IoT, and edge devices,” writes Vaid.

News Source = techcrunch.com

Email app Spark adds delegation feature for teams

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Email app Spark added collaboration features back in May 2018. And Readdle, the company behind the app, is going one step further with a new feature specifically designed to delegate an email to one of your colleagues.

While you can already collaborate with your team by sharing emails in Spark, the app is still not as powerful as a dedicated shared email client, such as Front. But delegation brings Spark one step closer to its competitor.

You can now treat emails as tasks with a deadline. If you’re a manager, you’re working with a personal assistant or you’re in charge of everyone’s workload, you can now assign a conversation to a person in particular and send a message to add some context.

On the other end, your colleague receives the conversation in their Spark account, in the ‘Assigned’ tab. They can then start working on that email together with other team members.

As a reminder, Spark lets you discuss email threads with your colleagues in a comment area, @-mention your colleague, add attachments and links. When you know what to say, you can create a draft, ask for feedback and collaborate like in Google Docs.

Delegation is a bit more powerful than simply sharing an email with a colleague. For instance, you can set a due date and mute the conversation. This way, you can hand off some work and focus on something else.

Spark for Teams uses a software-as-a-service approach. It’s free for small teams and you have to pay $6.39 to $7.99 per user per month to unlock advanced features, such as unlimited email templates and unlimited delegations. Free teams are limited to 10 active delegations at any time.

News Source = techcrunch.com

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