Timesdelhi.com

December 10, 2018
Category archive

series C

Contentful raises $33.5M for its headless CMS platform

in Balderton Capital/Benchmark/berlin/cloud applications/cloud computing/computing/content management/Contentful/Delhi/Developer/Enterprise/Europe/funding/Fundings & Exits/General Catalyst/hercules/India/Lyft/Nike/north america/OMERS Ventures/Politics/Recent Funding/Salesforce Ventures/salesforce.com/San Francisco/sap ventures/Sapphire Ventures/series C/Software/Spotify/Startups by

Contentful, a Berlin- and San Francisco-based startup that provides content management infrastructure for companies like Spotify, Nike, Lyft and others, today announced that it has raised a $33.5 million Series D funding round led by Sapphire Ventures, with participation from OMERS Ventures and Salesforce Ventures, as well as existing investors General Catalyst, Benchmark, Balderton Capital and Hercules. In total, the company has now raised $78.3 million.

It’s only been less than a year since the company raised its Series C round and as Contentful co-founder and CEO Sascha Konietzke told me, the company didn’t really need to raise right now. “We had just raised our last round about a year ago. We still had plenty of cash in our bank account and we didn’t need to raise as of now,” said Konietzke. “But we saw a lot of economic uncertainty, so we thought it might be a good moment in time to recharge. And at the same time, we already had some interesting conversations ongoing with Sapphire [formeraly SAP Ventures] and Salesforce. So we saw the opportunity to add more funding and also start getting into a tight relationship with both of these players.”

The original plan for Contentful was to focus almost explicitly on mobile. As it turns out, though, the company’s customers also wanted to use the service to handle its web-based applications and these days, Contentful happily supports both. “What we’re seeing is that everything is becoming an application,” he told me. “We started with native mobile application, but even the websites nowadays are often an application.”

In its early days, Contentful also focuses only on developers. Now, however, that’s changing and having these connections to large enterprise players like SAP and Salesforce surely isn’t going to hurt the company as it looks to bring on larger enterprise accounts.

Currently, the company’s focus is very much on Europe and North America, which account for about 80% of its customers. For now, Contentful plans to continue to focus on these regions, though it obviously supports customers anywhere in the world.

Contentful only exists as a hosted platform. As of now, the company doesn’t have any plans for offering a self-hosted version, though Konietzke noted that he does occasionally get requests for this.

What the company is planning to do in the near future, though, is to enable more integrations with existing enterprise tools. “Customers are asking for deeper integrations into their enterprise stack,” Konietzke said. “And that’s what we’re beginning to focus on and where we’re building a lot of capabilities around that.” In addition, support for GraphQL and an expanded rich text editing experience is coming up. The company also recently launched a new editing experience.

News Source = techcrunch.com

Chinese WeWork rival Ucommune raises $200M to go after international growth

in Asia/Beijing/Business/China/Collaborative Consumption/coworking/Delhi/Economy/Europe/India/Japan/mobike/naked hub/New York/ofo/Philippines/Politics/series C/shanghai/Singapore/SoftBank/SoftBank Group/Southeast Asia/taipei/Thailand/ucommune/United States/vietnam/WeWork by

China’s Ucommune, the country’s largest rival to WeWork, has been on a busy acquisition spree to build out its domestic business and now it is looking at overseas opportunities after it closed a $200 million Series D funding round.

The new round was led by Hong Kong-based All-Stars Investment with participation from Chinese investment bank CEC Capital and other investors. Ucommune said in a statement that the deal gives it a valuation of $3 billion, that represents a significant jump on its Series C in August which valued it at $1.8 billion. This new round takes Ucommune to around $650 million from investors to date, according to Crunchbase.

Founded in 2015, Ucommune has emerged as WeWork’s main rival in China since the U.S. firm acquired Naked Hub earlier this year in a deal said to be worth $400 million. Ucommune claims to operate more than 200 co-working spaces, most of those are in China but its overall footprint of 37 cities also includes Singapore, New York, Taipei and Hong Kong. Clients include unicorns ByteDance, Ofo and Mobike, as well as streaming service Kuaishou, according to Ucommune. WeWork China, by contrast, has around 40 locations.

Co-working has been a major buzzword in China following the growth of WeWork but as time went on a mixture of competition and China’s slowing economy saw a number of the field struggle. That presented an opportunity for Ucommune, which has aggressively gone after growth in China with a consolidation strategy that has seen it acquire no fewer than seven companies this year.

Its most recent addition was Fountown, which operates 27 spaces in Beijing and Shanghai and was acquired last month, while the others include co-working businesses — Wedo, Workingdom, Woo Space and New Space — an interior design company and a workplace collaboration startup.

Now, Ucommune is looking for ambitious international growth that’s aimed at expanding its reach to 350 cities across 40 countries. The ultimate goal, it explained in an announcement today, is to double its capacity from 100,000 workstations today to 200,000 over the next three years.

Ucommune’s space at Suntec is one of two locations it operates in Singapore

Going global is no easy thing, particularly when WeWork is on the case in many parts of the world with buckets of cash. The U.S. firm is currently making a big push in Southeast Asia — the most logical market for Ucommune to target first — with plans to launch locations in Vietnam, the Philippines and Thailand in the coming months. That would take WeWork to five countries in Southeast Asia, where it got a head start thanks to its acquisition of Singapore’s SpaceMob.

Ucommune has two locations in Singapore already but next time up is Hong Kong, where it says it is on track to open an inaugural space in December with a second slated for the first quarter of next year.

But WeWork is also strong its U.S. home market, Europe, Japan — where it works with SoftBank — and Korea, where it already has more than a dozen spaces. The firm has raised more than $1 billion for its China business and around $500 million for Korea and Southeast Asia.

Beyond a rivalry in China, Ucommune and WeWork have also engaged in a legal spat. WeWork forced its rival to change its name from UrWork after it took the company to court last year over the similarity.

News Source = techcrunch.com

Go to Top