Monthly Archives: January 2021

News: Fast raises $102M as the online checkout wars continue to attract huge investment

This morning Fast, a startup that provides online checkout and identity products, announced that it has closed a $102 million Series B. The new funding event was led by Stripe, a previous investor in Fast. Stripe, an online payments giant, also led Fast’s Series A last year, a deal worth $20 million. Fast has raised

This morning Fast, a startup that provides online checkout and identity products, announced that it has closed a $102 million Series B. The new funding event was led by Stripe, a previous investor in Fast.

Stripe, an online payments giant, also led Fast’s Series A last year, a deal worth $20 million. Fast has raised $124 million to date, it said in a release.

TechCrunch reached out to Fast for comment regarding its growth pace. The company shared that gross merchandise volume (GMV) processed by its checkout service has “more than tripled each month,” adding that it expects that “trend to continue and increase.” The growth pace is hard to rate as we lack a base from which to scale, but we do now have an expectation for future GMV progress from Fast that we can use as a measuring stick.

Fast’s outsized Series B comes after a number of rival online checkout providers have also raised large rounds.

In late December Bolt, which provides online checkout, identity, and payments services raised a $75 million extension to its Series C round. The company also shared a number of growth metrics, allowing TechCrunch to get a handle on its current size, and expectations for future performance.

Then in mid-January Checkout.com raised $450 million at a $15 billion valuation. TechCrunch wrote at the time that “Checkout.com wants to build a one-stop shop for all things related to payments, such as accepting transactions, processing them and detecting fraud.” So, similar to Bolt and in competition with elements of what Fast offers.

Finally, Rapyd announced that it raised $300 million at a $2.5 billion valuation one day later. Rapyd provides fintech services via an API, TechCrunch noted, but as it does support global ecommerce payments and sells anti-fraud tech, it seems to fit inside this group.

Tack on Fast’s new Series B and inside the last month or so we’ve seen $927 million — at least — flow into startups with overlapping ecommerce infrastructure market targets. That’s just under $26 million a day since the Bolt round, an enormous amount of capital in a short period of time.

How are the companies all raising in such rapid-fire fashion? The most obvious answer to the question is that ecommerce is so big, and so critical to the global economy, that improving the experience of vending goods online for both sellers and buyers is a problem space with room for many players. That so many startups in the race to solve online commerce have each raised implies that they are all, so far, enjoying strong growth rates; and that implies a gigantic market into which they all hope to grow.

And it’s hard to argue in the wake of COVID-19 boosting ecommerce, and generally accelerating the digitization of the global economy, that such technologies will be constrained by market size anytime soon.

News: Jam collaborative software launches Jam Genies to give small startups access to experts

As the world moves towards remote work, the collaborative tools market continues to expand. Jam, a platform for editing and improving your company’s website, is adding to the trend by introducing a new arm to its product today called Jam Genies. Jam Genies is a network of highly experienced product experts that Jam users can

As the world moves towards remote work, the collaborative tools market continues to expand. Jam, a platform for editing and improving your company’s website, is adding to the trend by introducing a new arm to its product today called Jam Genies.

Jam Genies is a network of highly experienced product experts that Jam users can tap for guidance and advice around their specific issue or challenge.

Cofounder Dani Grant explained to TechCrunch that many small and early-stage companies don’t have the deep pockets to hire a consultant when they run into a challenge, as many charge exorbitant rates and they often have a minimum time requirement. It can be incredibly difficult to get bite-sized advice at a reasonable cost.

That’s where Jam Genies comes in.

Genies hail from a variety of ‘verticals’, such as investors, designers, brand people, and growth hackers. The list includes:

  • Brianne Kimmel – Angel investor and founder of Worklife VC. Investor in Webflow, Hopin & 40+ software companies building the future of work.
  • Erik Torenberg – Partner at Village Global, a fund backed by Bill Gates, Jeff Bezos, Mark Zuckerberg and others. Founding team at Product Hunt.
  • Sahil Lavingia – Founder & CEO of Gumroad, first engineer at Pinterest, and angel investing $10 million a year via shl.vc.
  • Iheanyi Ekechukwu – Engineer turned angel investor, and scout investor for Kleiner Perkins.
  • Soleio – Facebook’s second product designer, former head of design at Dropbox, and advisor at Figma. Invests in design-focused founders at Combine.
  • Dara Oke – Product design lead at Netflix, formerly designed and built products at Microsoft, Twitter, and Intel.
  • Katie Suskin – Designed many products you know and love like Microsoft Calendar, OkCupid, Tia, and … Jam.
  • Julius Tarng – Helped scale design at Webflow and led design tooling at Facebook.
  • Abe Vizcarra – Currently leading brand at Fast, former Global Design Director at Snap Inc.
  • Tiffany Zhong – CEO, Zebra IQ. Recognized by Forbes as one of the Top 10 Gen Z Experts.
  • Nicole Obst – Former Head of Web Growth (B2C) at Dropbox and Head of Growth at Loom
  • James Sherrett – 9th employee at Slack, led the original marketing and sales of Slack.
  • Asher King Abramson – CEO at Got Users, a growth marketing platform widely used by startups around Silicon Valley.

Users on the Jam platform can choose a Genie and set an appointment through Calendly. The sessions last half an hour and cost a flat fee of $250, all of which goes to the Genie.

Jam raised $3.5 million in October, from firms like Union Square Ventures, Version One Ventures, BoxGroup, Village Global and a variety of angel investors, to fuel growth and further build out the product. Jam Genies is, in many respects, a growth initiative for the company to better acquaint early-stage startups with the platform.

The main Jam product lets groups of developers and designers work collaboratively on a website, leaving comments, discuss changes and create and assign tasks. The platform integrates with all the usual suspects, such as Jira, Trello, Github, Slack, Figma, and more.

Since its launch in October 2020, the company has signed up 4,000 customers for its private beta waitlist, with 14,000 Jam comments created on the platform. The introduction of Jam Genies could add momentum to this growth push.

News: Talent Hack raises $4.7M for its B2C fitness platform, Spaces

It’s been a wild 12 months for fitness platforms, as the world’s population has struggled to adapt to workouts outside of the gym. From Lululemon’s massive Mirror acquisition to companies like Apple and Samsung launching their own solutions, exercise technology has thrived amid the pandemic. Talent Hack is one of a large (and growing) number

It’s been a wild 12 months for fitness platforms, as the world’s population has struggled to adapt to workouts outside of the gym. From Lululemon’s massive Mirror acquisition to companies like Apple and Samsung launching their own solutions, exercise technology has thrived amid the pandemic.

Talent Hack is one of a large (and growing) number of companies looking to make fitness more accessible in a world where the gym just isn’t an option for many. Rather than creating its own front-end, curated platform, however, the New York-based startup’s Spaces is designed to offer a B2C platform for fitness instructors and studios.

This week, the company announced that it has raised a $4.7 million seed round, led by Global Founders Capital. The Fund is also participating in the round, along with Mindbody Online’s Rick Stollmeyer, as well as Lucy Deland, Hannah Bronfman, Amanda Freeman, Ellie Burrows and Amy Klein.

Spaces has been operating with a relatively low public profile since January 2019, though more than 50,000 fitness professions have signed up for the service. The company says it’s managed to help top earners pull in $250,000.

“We are the first fitness and technology company that is a true partner for the individual wellness instructor, facilitating agency and power to the individual in the rising 30% YoY at-home fitness market,” CEO and co-founder Alexandra Bonetti says in a release tied to the news. “Our mission is to empower fitness and wellness professionals with the tools and resources they need to propel and scale their businesses so they can remain focused on what they do best.”

Talent Hack says this round will go toward increasing its marketing, improving the customer experience and expanding recruiting.

News: Treadly’s next-gen compact treadmill is ideal for small spaces and features app-based social workouts

As the global pandemic continues, having options for keeping active at home is increasingly top-of-mind. Treadly is a startup focused on building a home treadmill that’s compact and convenient, with smart connected features that boost engagement. The company recently released its second-generation product, and it’s super compact, with hardware improvements that boost the weight limit

As the global pandemic continues, having options for keeping active at home is increasingly top-of-mind. Treadly is a startup focused on building a home treadmill that’s compact and convenient, with smart connected features that boost engagement. The company recently released its second-generation product, and it’s super compact, with hardware improvements that boost the weight limit for users and add cooling benefits that extend workout times.

Basics

Treadly’s design is probably a lot smaller than you’re expecting – it’s just 3.7-inches tall for the base, and it weights just 77 lbs. The whole deck is just 56-inches long by 25-inches wide, and there’s a flip-down handle that you extend when you want to jog at a faster pace, while folding it away for strictly walking workouts.

There’s a display built into the deck itself, offering a simple but easy to read black and white readout of key stats, including speed, total steps, time and distance. The handrail features manual controls, and the Treadly 2 can also be controlled either via a dedicated remote control for the basic model, or through the Treadly app (iOS only now, but Android coming soon) via Bluetooth for the upgraded Treadly 2 Pro version.

The Treadly 2 also features a built-in Bluetooth speaker, which allows you to connect your smartphone and play music via whatever app you want. The Treadly iOS app also offers community iterative training, and live video integration. Treadly is also introducing new groups features to the app to allow users form their own communities, and also new challenges that users can issue to one another, like step count records and more.

Design and features

Treadly’s design is very compact, as mentioned, and it’s the perfect size for small spaces. It’ll slide easily under most couches thanks to its low height, and it can also be stored vertically if you want to put it against the wall or in a larger closet. The design is also attractive and minimal, which make it more unobtrusive than most exercise equipment even if left out in plain view.

The built-in display in the deck itself is a nice accommodation for keeping the dimensions compact, while also providing all the feedback you’d expect from a piece of home gym equipment. It’d be easier to check periodically if it was mounted into the fold-down handlebar, but that would definitely lead to increased bulk. Plus, having the stats slightly difficult to access is probably actually better for many people, since zeroing in on those can make a workout more arduous than it needs to be.

For the basic model, the remote is effective and compact, with a wriststrap included so that you can keep track of it easily while using the treadmill. The built-in Bluetooth speaker isn’t amazing, as you might expect, but it’s more than good enough to provide a soundtrack if you don’t have other speakers or earbuds on hand to use.

Image Credits: Treadly

As for the experience of actually using Treadly 2 to run or walk, it definitely delivers, with a few caveats: First, don’t expect this to provide a true indoor running experience. While it definitely offers impressive weight capacity for a treadmill of this size, the max speed is 5 mph, which is a low-intensity jog for most people. With the handrail down, that drops to just 3.7 mph, which is a brisk walk.

For something this compact, that’s actually still very impressive – especially since there’s no time limit on how long you can use the treadmill at 5 mph thanks to Treadly 2’s new and improved cooling system. For avoiding a sedentary lifestyle while remaining mostly indoors, the Treadly 2’s speed settings more than deliver, and that’s probably enough for most users, advanced fitness buffs excluded.

Bottom line

The Treadly 2 is a connected treadmill that provides a great blend of convenience, social features, guided usage, connected control and space-saving design into a reasonably-priced package starting at $749 for the Basic and $849 for the Pro with special New Year Sale pricing. It’s like the Peloton that most people are actually more likely to use long-term, and it’s a great way to stay active during the long winter months in our unprecedented times.

News: PepsiCo and Beyond Meat launch poorly named joint venture for new plant-based food and drinks

PepsiCo, the planetary purveyor of sugary drinks, greasy chips, and (weirdly) oatmeal, hummus, and gazpacho(?) is partnering with Beyond Meat, the publicly traded plant-based protein provider, on a poorly named joint venture to hawk new plant-based food and beverages to consumers. The PLANeT Partnership (which was clearly branded by the same genius behind the comic

PepsiCo, the planetary purveyor of sugary drinks, greasy chips, and (weirdly) oatmeal, hummus, and gazpacho(?) is partnering with Beyond Meat, the publicly traded plant-based protein provider, on a poorly named joint venture to hawk new plant-based food and beverages to consumers.

The PLANeT Partnership (which was clearly branded by the same genius behind the comic sans font), will combine Beyond Meat’s skills with protein prestidigitation and PepsiCo’s marketing and manufacturing savvy to flood the global market with new snacks and drinks, the two companies said.

Neither company disclosed any financial terms and other pesky details around who, what, where, and when, except to say that the the joint venture operations will be managed through the newly created PLANeT Partnership.

(If the companies put as much effort into running the business as they did with naming and branding it, Impossible Foods shouldn’t have much to worry about…. The capitalization and branding of this thing is an affront to the English language is all I’m saying.)

“Plant-based proteins represent an exciting growth opportunity for us, a new frontier in our efforts to build a more sustainable food system and be a positive force for people and the planet, while meeting consumer demand for an expanded portfolio of more nutritious products,” said Ram Krishnan, PepsiCo Global Chief Commercial Officer, in a statement.

In the announcement touting the new JV, PepsiCo referred to its storied history of snack innovation including baked LAY’S chips, Sabra Snack Cups, Alvalle ready-to-drink gazpacho, Quaker Breakfast flats and Gatorade Juiced.

The company has also acquired BFY Brands, which makes PopCorners; SodaStream, which makes… well… SodaStreams… and BareSnacks, which makes baked fruit and vegetable chips.

The deal is the latest really really big partnership for Beyond Meat and follows an oddly botched announcement with McDonald’s that the two companies would be collaborating on new menu items.

News: Facebook’s secret settlement on Cambridge Analytica gags UK data watchdog

Remember the app audit Facebook founder Mark Zuckerberg promised to carry out a little under three years ago at the height of the Cambridge Analytica scandal? Actually the tech giant is very keen that you don’t. The UK’s information commissioner just told a parliamentary subcommittee on online harms and disinformation that a secret arrangement between

Remember the app audit Facebook founder Mark Zuckerberg promised to carry out a little under three years ago at the height of the Cambridge Analytica scandal? Actually the tech giant is very keen that you don’t.

The UK’s information commissioner just told a parliamentary subcommittee on online harms and disinformation that a secret arrangement between her office and Facebook prevents her from publicly answering whether or not Facebook contacted the ICO about completing a much-trumpeted ‘app audit’.

“I think I could answer that question with you and the committee in private,” information commissioner Elizabeth Denham told questioner, Kevin Brennan, MP.

Pressed on responding, then and there, on the question of whether Facebook ever notified the regulator about completing the app audit — with Brennan pointing out “after all it was a commitment Mark Zuckerberg gave in the public domain before a US Senate committee” — Denham referred directly to a private arrangement with Facebook which she suggested prevented her from discussing such details in public.

“It’s part of an agreement that we struck with Facebook,” she told the committee. “In terms of our litigation against Facebook. So there is an agreement that’s not in the public domain and that’s why I would prefer to discuss this in private.”

The UK Information Commissioner has previously passed information to FB re: Cambridge Analytica, and has a secret legal settlement w/ them

This will be a worry to anyone who has passed information to them (e.g. whistleblowers)

Long term this practice will have chilling effects https://t.co/an7dgnZADY

— Paul-Olivier Dehaye (@podehaye) January 26, 2021

In October 2019 Facebook settled with the UK’s data protection watchdog — agreeing to pay in full a £500,000 penalty announced by the ICO in 2018 in relation to the Cambridge Analytica breach but which Facebook had been appealing.

When it settled with the ICO Facebook did not admit liability. It had earlier secured a win, from a first-tier legal tribunal that had held June that “procedural fairness and allegations of bias” against the regulator should be considered as part of its appeal, so its litigation against Facebook had got off to a bad start — likely providing the impetus for the ICO to settle with Facebook’s private army of in-house lawyers.

In a statement at the time, covering the bare bones of the settlement, the ICO said Denham considered the agreement “best serves the interests of all UK data subjects who are Facebook users”.

There was no mention of any ‘gagging clauses’ in that disclosure. But the regulator did note that the terms of the agreement gave Facebook permission to “retain documents disclosed by the ICO during the appeal for other purposes, including furthering its own investigation into issues around Cambridge Analytica”.

So — at a stroke — Facebook gained control of a whole lot of strategically important information.

The settlement looks to have been extremely convenient for Facebook. Not only was it fantastically cheap (Facebook paid $5BN to settle with the FTC in the wake of the Cambridge Analytica scandal just a short while later); and not only did it provide Facebook with a trove of ICO-obtained data to do its own digging into Cambridge Analytica safely out of the public eye; but it also ensured the UK regulator would be restricted in what it could say publicly.

To the point where the information commissioner has refused to say anything about Facebook’s post-Cambridge Analytica app audit in public.

The ICO seized a massive trove of data from the disgraced (and since defunct) company which had become such a thorn in Facebook’s side, after raidingCambridge Analytica’s UK offices in early 2018. How much of that data ended up with Facebook via the ICO settlement is unclear.

Interestingly, the ICO also never produced a final report on its Cambridge Analytica investigation.

Instead it sent a letter to the DCMS committee last year — in which it set out a number of conclusions, confirming its view that the umbrella of companies of which CA was a part had been aggregating datasets from commercial sources to try to “make predictions on personal data for political alliance purposes”, as it put it; also confirming the improperly obtained Facebook data had been incorporated into a pre-existing database containing “voter file, demographic and consumer data for US individuals”.

The ICO also said then that its investigation did not find evidence of the Facebook data that had been sold to Cambridge Analytica had been used for political campaigning associated with the UK’s Brexit Referendum. But there was no overarching report detailing the underlying workings via which the regulator got to its conclusions.

So, again from Facebook’s perspective, a pretty convenient outcome.

Asked today by the DCMS committee why the regulator had not produced the expected final report on Cambridge Analytica, Denham pointed to a number of other reports it put out over the course of the multi-year probe, such as audits of UK political parties and an investigation into credit reporting agencies.

“The letter was extensive,” she also argued. “My office produced three reports on the investigation into the misuse of data in political campaigning. So we had a policy report and we had two enforcement reports. So we had looked at the entire ecosystem of data sharing and campaigning… and the strands of that investigation are reported out sufficiently, in my view, in all of our work.”

“Taken together the letter, which was our final line on the report, with the policy and the enforcement actions, prosecutions, fines, stop processing orders, we had done a lot of work in this space — and what’s important here is that we have really pulled back the curtain on the use of data in democracy which has been taken up by… many organizations and parliamentarians around the world,” she added.

Denham also confirmed to the committee that the ICO has retained data related to the Cambridge Analytica investigation — which could be of potential use to other investigations still ongoing around the world. But she denied that her office had been asked by the US Senate Intelligence Committee to provide it with information obtained from Cambridge Analytica — seemingly contradicting an earlier report by the US committee that suggested it had been unable to obtain sought for information. (We’ve contacted the committee to ask about this.)

Denham did say evidence obtained from Cambridge Analytica was shared with the FTC, SEC and with states attorneys general, though.

We’ve also reached out to Facebook about its private arrangement with the ICO, and to ask again about the status of its post-Cambridge Analytica ‘app audit’. (And will update this report with any response.)

The company has produced periodic updates about the audit’s progress, saying in May 2018 that around 200 apps had been suspended as a result of the internal probe, for example.

Then in August 2019 Facebook also claimed to the DCMS committee that the app audit was “ongoing”.

In its original audit pledge — in March 2018 — Zuckerberg promised a root and branch investigation into any other ‘sketchy’ apps operating on Facebook’s platform, responding in a ‘crisis’ length Facebook post to the revelations that a third party had illicitly obtained data on millions of users with the aim of building psychographic profiles for voter targeting. It later turned out that an app developer, operating freely on Facebook’s platform under existing developer policies, had sold user data to Cambridge Analytica.

“We will investigate all apps that had access to large amounts of information before we changed our platform to dramatically reduce data access in 2014, and we will conduct a full audit of any app with suspicious activity,” Zuckerberg wrote at the time. “We will ban any developer from our platform that does not agree to a thorough audit. And if we find developers that misused personally identifiable information, we will ban them and tell everyone affected by those apps. That includes people whose data [Aleksandr] Kogan misused here as well.”

It’s notable that the Facebook founder did not promise to transparently and publicly report audit findings. This is of course what ‘self regulation’ looks like. Invisible final ‘audit’ reports.

An ‘audit’ that’s entirely controlled by an entity deeply implicated in core elements of what’s being scrutinized obviously isn’t worth the paper it’s (not) written on. But, in Facebook’s case, this opened-but-never-closed ‘app audit’ appears to have served its crisis PR purpose.

News: Voice recognition features return to TiVo through a partnership with Atlanta-based Pindrop

TiVo devices are getting new voice recognition capabilities thanks to a partnership with the Atlanta-based startup Pindrop, which is now offering its voice recognition and personalization technologies for consumer devices. The new voice recognition capabilities replace TiVo’s discontinued use of the Alexa voice recognition service, which happened with little fanfare last year. TiVo made a

TiVo devices are getting new voice recognition capabilities thanks to a partnership with the Atlanta-based startup Pindrop, which is now offering its voice recognition and personalization technologies for consumer devices.

The new voice recognition capabilities replace TiVo’s discontinued use of the Alexa voice recognition service, which happened with little fanfare last year.

TiVo made a big push with its Alexa integration a little over two years ago, but the switch to Pindrop’s services shows that there’s a robust market for voice-enabled services and providers are moving from different markets to compete on Amazon and Google’s home turf.

Through the integration with Pindrop’s services, TiVo homeowners will now be able to search for shows and control their devices using their voice. But Pindrop’s tech, which was developed initially as an anti-fraud technology for financial services firms and big business customers, goes beyond basic voice recognition.

Pindrop’s tech can tell the difference between different speakers, setting up opportunities for the personalization of programming with each user being able to call up their individual account for Netflix, Amazon or other services with simple voice commands.

“Beyond just understanding what was said, we want to understand the context of the situation to drive intelligent system behavior in the moment,” said Jon Heim, Senior Director of Product & Conversation Services at TiVo. “The ability to distinguish between different members of a household based on their voice is an example of this contextual awareness, enabling us to provide an unprecedented level of personalization through an experience tailored to that specific person.”

It’s cool.

When different users say the “What should I watch?” prompt, TiVo devices can now pull up personalized content they are most likely to want to watch. If another member of the household says the same command, the device will display different results.

The technology requires user opt-in, and while Pindrop’s tech can differentiate between speakers, the identity of the speaker is anonymized. 

It’s a service that Pindrop has already rolled out to eight of the ten largest banks in the U.S., according to Pindrop co-founder and chief executive Vijay Balasubramanian. And the foray into consumer devices through the TiVo partnership is just the beginning.

The company has also integrated with SEI Robotics devices, the white label manufacturer of Android devices.

Pindrop has plenty of cash in the bank to finance its push into the world of consumer devices. The company’s profitable and is looking at an annual run rate just shy of $100 million, according to Balasubramanian.

For its next trick, the company intends to roll out its voice recognition service in cars and other networked consumer devices, according to Balasubramanian.

“[We’re] working with OEMS for auto… they’re in the proof of concept phase,” he said. 

News: Stacker raises $1.7M to help nocoders build apps from spreadsheets

Stacker, a company that helps non-developers create software from spreadsheets, announced that it has raised $1.7 million in a seed round. Stacker fits inside the growing no-code, and low-code niche that TechCrunch has explored at length over the last year. But its approach to the topic is worth examining, as is its new funding round.

Stacker, a company that helps non-developers create software from spreadsheets, announced that it has raised $1.7 million in a seed round.

Stacker fits inside the growing no-code, and low-code niche that TechCrunch has explored at length over the last year. But its approach to the topic is worth examining, as is its new funding round.

According to Stacker CEO Michael Skelly, the idea for his company came from his time at an asset management company where he had helped build internal apps using Salesforce’s platform. Later on in his career, he found the process more difficult without as assistive service, and noticed that teams in need of engineering time — even for more modest changes to how something worked — were stuck waiting in a long line for developer attention.

Thinking back to his former experience building tools on Salesforce’s platform, he decided to build something that would help non-technical end-users at companies build their own apps, as they know best what they need.

By now this concept should be familiar to anyone who has spent time in the no-code space; allowing non-technical teams to build their own app is a somewhat normal effort. But Stacker is betting that people already know how to get data into a spreadsheet, and that they don’t want to build an app from zero.

So, users of Google Sheets and the popular Airtable, can use Stacker to build apps from their spreadsheets. In Skelly’s view, lots of people already use spreadsheets as a way to make software of a sort; spreadsheets are a workaround, in his perspective, used by non-developers to get as far as they can towards building their own solution. So, turn those into real apps, let the end-users tinker with them, and presto, non-technical teams are off on their own.

Stacker’s method also solves the issue of expecting users to start from scratch, adding buttons to a blank screen, as the service will make users an initial app from their selected Google Sheet, or Airtable.

If that seems like a narrow use case, it isn’t. Skelly was clear during an interview with TechCrunch that he is not trying to help non-developers build the next mega-product. Instead, he wants to help teams build neat internal apps. And that market is proving out so far, with Stacker racking up 500 customers so far. TechCrunch noted that the company had 250 in August of 2020, when the startup took part in Y Combinator’s demo day. Today the company has reached $1 million in annual recurring revenue (ARR), it said. You can infer growth rates from the three data points.

Initialized Capital led the startup’s round, with participation from Y Combinator, Pioneer Fund and Makerpad. The capital was closed in September of 2020, but announced today as Stacker wanted to skip the holiday dead zone. That makes the round about as temporally laggy as most seed deals.

What’s next for Stacker’s distributed team of 12? Skelly told TechCrunch that some folks are using Stacker not just for customer portals or other simple uses, but to create daily-use apps. So the startup wants to invest in making that better, and bring the ability to link even more data sources — think SaaS apps, and the like — in time to allow for what we reckon is more rich app use-cases.

Finally, to whom does Stacker sell? On the customer front, it said that most of its customers are SMBs. That makes sense, as larger companies have more internal development resources. But to whom might Stacker sell? At the end of our call, TechCrunch jokingly enjoined the company not to exit early to Airtable. The CEO said that he tells people that in five years that his company will buy Airtable. That was a good answer.

News: Run:AI raises $30M Series B for its AI compute platform

Run:AI, a Tel Aviv-based company that helps businesses orchestrate and optimize their AI compute infrastructure, today announced that it has raised a $30 million Series B round. The new round was led by Insight Partners, with participation from existing investors TLV Partners and S Capital. This brings the company’s total funding to date to $43

Run:AI, a Tel Aviv-based company that helps businesses orchestrate and optimize their AI compute infrastructure, today announced that it has raised a $30 million Series B round. The new round was led by Insight Partners, with participation from existing investors TLV Partners and S Capital. This brings the company’s total funding to date to $43 million.

At the core of Run:AI’s platform is the ability to effectively virtualize and orchestrate AI workloads on top of its Kubernetes-based scheduler. Traditionally, it was always hard to virtualize GPUs, so even as demand for training AI models has increased, a lot of the physical GPUs often set idle for long periods because it was hard to dynamically allocate them between projects.

Image Credits: Run.AI

The promise behind Run:AI’s platform is that it allows its users to abstract away all of the AI infrastructure and pool all of their GPU resources — no matter whether in the cloud or on-premises. This also makes it easier for businesses to share these resources between users and teams. In the process, IT teams also get better insights into how their compute resources are being used.

“Every enterprise is either already rearchitecting themselves to be built around learning systems powered by AI, or they should be,” said Lonne Jaffe, managing director at Insight Partners and now a board member at Run:AI.” Just as virtualization and then container technology transformed CPU-based workloads over the last decades, Run:AI is bringing orchestration and virtualization technology to AI chipsets such as GPUs, dramatically accelerating both AI training and inference. The system also future-proofs deep learning workloads, allowing them to inherit the power of the latest hardware with less rework. In Run:AI, we’ve found disruptive technology, an experienced team and a SaaS-based market strategy that will help enterprises deploy the AI they’ll need to stay competitive.”

Run:AI says that it is currently working with customers in a wide variety of industries, including automotive, finance, defense, manufacturing and healthcare. These customers, the company says, are seeing their GPU utilization increase from 25 to 75% on average.

“The new funds enable Run:AI to grow the company in two important areas: first, to triple the size of our development team this year,” the company’s CEO Omri Geller told me. “We have an aggressive roadmap for building out the truly innovative parts of our product vision — particularly around virtualizing AI workloads — a bigger team will help speed up development in this area. Second, a round this size enables us to quickly expand sales and marketing to additional industries and markets.”

News: Bloomreach raises $150M on $900M valuation and acquires Exponea

Bloomreach, an API company that helps eCommerce customers with search and web site creation, announced a $150 million investment today from Sixth Street Growth. Today’s funding values the company at $900 million. At the same time, the company announced it has acquired Exponea, a startup that gives Bloomreach a marketing automation component it had been

Bloomreach, an API company that helps eCommerce customers with search and web site creation, announced a $150 million investment today from Sixth Street Growth. Today’s funding values the company at $900 million.

At the same time, the company announced it has acquired Exponea, a startup that gives Bloomreach a marketing automation component it had been missing. The two companies did not reveal the acquisition price, but along with the pure functionality, the company gains 200 additional employees, which is significant, considering Bloomreach had 300 prior to the acquisition. It also gains 250 net new customers, giving it a total of 750.

“Historically, we have had two major pillars of the business — the search part of it and the content part,” Bloomreach CEO and co-Founder Raj De Datta told TechCrunch. The content management component lets customers build websites, while the search powers the search box, navigation and merchandising. He points out that all of it is powered by an underlying data analysis engine that matches data to people and people to products.

Exponea will give the company more of a complete platform of services, allowing marketers to target and personalize their marketing messages across multiple channels. De Datta says the two companies had similar missions and made a good fit. “We have a common vision and common sort of product direction. […] Both companies are data-driven optimization technologies[…] and both are entrepreneurial product-driven companies,” he said.

It also helped that they had been partnering together for six months prior to the sale, which has now closed. Exponea was founded in 2016 in Slovakia and has raised over $57 million, according to Pitchbook data. The plan is to leave Exponea as a stand-alone product, while finding ways to integrate it more smoothly with the other components in the Bloomreach platform. They expect the integration parts to happen over the next year.

While De Datta did not want to share specific revenue figures, he did say that the company had a record second half as business was pushed online due to the pandemic. Michael McGinn, partner at Sixth Street and co-head at investor Sixth Street Growth doesn’t see the demand for eCommerce abating, even post-COVID, and that will drive a need for more customized online shopping experiences.

“Technology serving more bespoke customer experiences is a rapidly expanding market and we are pleased to join Bloomreach in its leadership of the digital commerce experience and marketing sector,” McGinn said in a statement.

De Datta says the money was used in part to buy Exponea, but he also plans to invest more in engineering to continue building the product line. The ultimate goal is an IPO, but as you would expect, he wasn’t ready to commit to any timeline just yet.

“I wouldn’t say we have a timeline, but our goal is that the company over the course of 2021 should make investments towards that, so that it’s an option for us.”

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