By Ron Miller
September 21, 2021
By Christine Hall
September 21, 2021
By Christine Hall
September 21, 2021
By Ron Miller
September 21, 2021
By Ron Miller
September 20, 2021
By Ingrid Lunden
September 20, 2021
By Christine Hall
September 20, 2021
By Ron Miller
September 17, 2021
By Christine Hall
September 17, 2021
By Ron Miller
September 16, 2021
Salesforce has often preached about responsible capitalism, and today at Dreamforce, the company’s annual customer extravaganza, it announced a notable achievement in the battle against global climate change. The company said that it has achieved effective Net Zero energy usage across its entire value chain with 100% renewable energy, while purchasing carbon offsets when that’s not possible.
At the same time, it announced updates to the Sustainability Cloud, a product that the company sells to other organizations to manage their climate initiatives, proving you can be responsible, and still be capitalists. Suzanne DiBianca, chief impact officer & EVP for corporate relations at Salesforce, speaking at yesterday’s Dreamforce press event says the company is proud to be an example of a large organization taking positive climate action.
“I’m very excited about our commitment to climate action around being a Net Zero company today. And this is not in 2030, not in 2040, not in some other future moment. We know we have to accelerate, and we have gotten to Net Zero today including our entire value chain, which is Scope 1, 2 and 3. Very few companies have gotten here,” she said.
There is a lot of sustainability jargon there, so we spoke to Ari Alexander, GM of Sustainability Cloud to break it down for us. Alexander explained that the sustainability community measures a company’s carbon footprint in three main areas known as Scope 1, Scope 2 and Scope 3. “Scope 1 and 2 are what you own, what you operate, what you control and then what energy is procured in order to power your operation,” he said.
Scope 3 is everything else your company touches, which is referred to as ‘up and down the value chain’ in industry parlance. “The vast majority of the emissions that a company is responsible for are actually not in their direct operational control, but relate to their upstream suppliers that they procure goods and services from, or in the case of other industries the downstream use of the product or the life of a product,” he said. A downstream example might be what happens to your phone after you trade it in for a new one.
So when Salesforce says that it’s Net Zero up and down the value chain, it involves everything it controls and every company it interacts with in the act of doing business. Because there are so many variables here outside of Salesforce’s control, Alexander says when the company can’t ensure that a partner or vendor is in compliance with the standard set by the company, it buys what he calls “high quality carbon offsets.”
“Also for where we can’t do that immediately, we are purchasing high quality carbon offsets to make up the difference to be able to be fully Net Zero now, while we continue on that really important journey of reducing to absolute zero across the supply chain [over time],” he said.
In addition, the company announced updates to the Sustainability Cloud, the commercial tool it has developed to sell to other companies, using the same tools and technology that Salesforce is using in-house.
“Sustainability is undergoing a transformation in that it’s going from something that’s a nice to have to something that’s actually at the heart of business transformation itself. That it’s one of the mega trends of our time and growing exponentially every year, and part of what that means is that companies are moving significant resources in order to respond to the climate crisis and moving sustainability to the core of how they do business,” Alexander said.
At the same time, the company published a blueprint based on its own plans to be a more sustainable organization called the Salesforce Climate Action Plan (link to pdf) that it is making available for free online.
The company also announced plans to accelerate its tree planting goals to grow 30 million trees this year. This involves working with other organizations to plant, grow and restore 100 million trees in a 10 year period, a goal that they have been pushing to make happen much sooner.
Company president and COO Bret Taylor speaking at the Dreamforce press event said that the climate crisis has had an impact on everyone, and he believes Salesforce can have a meaningful impact based on its behavior while acting as an example for other organizations.
“We’re showing up at Dreamforce, […] really to recognize that we think business is the greatest platform for change and to paint a picture of this vision for inspiring every organization to become a trusted enterprise and address these crises [like climate],” Taylor said.
By Ron Miller
Shelf Engine’s mission to eliminate food waste in grocery retailers now has some additional celebrity backers. The company brought in a $2 million extension to its $41 million Series B announced in March.
Ellen DeGeneres, Portia de Rossi, Shaun White and Shawn Mendes are the new backers, who came in through a strategic round of funding alongside PLUS Capital to bring the Seattle-based company’s total funding to $60 million since the company’s inception in 2016. This includes a $12 million Series A from 2020.
Shelf Engine’s grocery order automation technology applies advanced statistical models and artificial intelligence to deliver accurate food order volume so that customers can reduce their food waste by as much as 32% while increasing gross margins and sales of more than 50%. The company has already helped retailers divert 1 million pounds of food waste from landfills, Stefan Kalb, co-founder and CEO of Shelf Engine, told TechCrunch.
“We’ve had phenomenal growth last year, some of it from our mid-market customers, but mostly from customers like Target and Kroger,” Kalb said. “Our other big news is that we hired a president (Kane McCord) in the past six weeks, which is cool to have the reinforcement on the leadership side.”
Over the past 12 months, the company, which works with retailers like Kroger, Whole Foods and Compass Group, saw over 540% revenue growth. At the same time, it grew its employees to 200 from 23, Kalb said. He expects to more than double Shelf Engine’s headcount over the next 12 months.
As a result, the new funding will be used to scale with current customers and accelerate further investment in R&D of its AI systems and automation capabilities.
Meanwhile, Amanda Groves, partner at PLUS Capital, said her firm works with about 65 individuals who are in film, television, sports and culture, including the four new investors in Shelf Engine.
She says many of her clients are looking to participate in business as an investor or with sweat equity. Her firm works with them to determine interests and will then source opportunities and invest alongside them.
Shelf Engine fits into one of PLUS Capital’s core investment areas of sustainability. The firm looks across different sectors like food, energy, apparel, packaging and recycling. Shelf Engine’s approach of leveraging technology to aid in sustainability efforts was attractive to all of the investors, as was their method of scaling within grocery clients without affecting consumer behavior.
“When Shelf Engine is installed in the grocery store, they can reduce spoilage by 10% right off the bat — that immediacy of the impact was what got our clients excited,” Groves added.
One of Shelf Engine’s first celebrity investors was Joe Montana, and Kalb said partnering with celebrities enables the company’s mission to eliminate food waste and address the climate crisis to be made more aware.
“B2B software is not as glamorous, but the climate has become a big issue and something many celebrities care about,” he added. “Shawn Mendes has over 60 million followers, so for him to share about this issue is extremely meaningful. Where he invests will lead to his followers knocking on the doors of stores and saying ‘this matters to me.’ That is the strategy shift from B2B to a movement for our community.”
The company is not alone in tackling food waste, which globally each year amounts to $1.3 trillion. For example, Apeel, OLIO, Imperfect Foods, Mori and Phood Solutions are all working to improve the food supply chain and have attracted venture dollars in the past year to go after that mission.
Shelf Engine is already in over 3,000 stores nationwide in the areas of grocery, food service and convenience stores, which “is a large lift from 18 months ago,” Kalb said. Next up, the company is progressing to open new categories and managing more projects. He is specifically looking at what the company can manage in the store and manage for the customer.
“We are getting to the point where we can manage more of the store in complex categories like meat, seafood and deli that are mainly custom,” he added.
By Christine Hall
Bilt Rewards, a loyalty program for property renters to earn points on rent with no fees and build a path toward homeownership, announced Tuesday a round of $60 million in growth funding that values the company at $350 million.
The investment comes from Wells Fargo and Mastercard and a group of the nation’s largest real estate owners, including The Blackstone Group, AvalonBay Communities, Douglas Elliman, Equity Residential, GID-Windsor Communities, LENx, The Moinian Group, Morgan Properties, Starwood Capital Group and Related.
Bilt launched back in June out of Kairos, the startup studio led by Ankur Jain, focused on enabling over 109 million renters in the U.S. to earn points from paying their rent every month — typically someone’s largest monthly expense. Since then, the program was rolled out across over 2 million rental units, Jain told TechCrunch.
“We are the first and only alliance of the major property owners to create this kind of program and already have 15 of the top 20 owners involved,” he added. “We are also the only co-branded card to offer points on rent.”
Greg Bates, GID president and CEO, said his company has 130 assets spread across the top 20 markets and manages 40,000 apartment units. He learned about Bilt from a colleague who attended a proptech conference where Jain demoed the Bilt card.
For as long as Bates has been in the real estate industry, about 20 years or so, renters have wanted to pay rent with a credit card for convenience and to earn loyalty points. However, that was cost-prohibitive in terms of the surcharges needed to be added to the rental rate — until Bilt, he said. The card “is incredibly easy to use” and integrates into property owners’ online payment systems.
“Bilt has transformed the value proposition for residents that want to use a credit card and for landlords that want to accept them,” Bates added. “There will always be barriers to entry for products like this, but Bilt spent time with Mastercard and Wells Fargo to develop this unique product which will be a competition differentiator for a few years to come.”
In addition to the new funding, Bilt is also announcing new benefits for its loyalty members and upgraded offerings for the Bilt Mastercard, including the ability to earn up to 50,000 points on rent per year and unlimited points using the credit card.
For members, Bilt will pay interest in the form of points for a member’s account each month based on their average daily points balance over the 30-day period, and offer a concierge service for members choosing to redeem their Bilt points toward a home down payment. In addition, members can earn bonus points on top of points used by landlords on new leases and renewals.
Bilt worked with regulators, as well as Fannie Mae and the Department of Housing and Urban Development, to gain approval for using rewards points toward a mortgage. Members can also report their rent payments to the credit bureaus at no cost, which can help build credit history for millions of young renters.
Meanwhile, the company’s new “0-1-2-3” point earning structure for Bilt Mastercard holders provides no annual fee, 1x points on rent payments, 2x points on travel, 3x points on dining and 1x points on all other purchases.
This is the company’s first major external financing round and will be used to expand its real estate and loyalty partner network, grow its distribution channels and make its platform credit card more widely available to the public. Jain estimates Bilt is seeing 20% enrollment across residents.
As more renters move to homeownership over time, Bilt has plans to leverage this potential larger business to eventually become a mortgage provider for them.
“Renting is something people do for a while, and the core business has a massive scale opportunity, especially in the demographic under 35 years old, who tend to be up-and-coming professionals,” Jain added. “This is a unique target market, and Bilt will grow with them as they build their path to homeownership.”
By Christine Hall
Slack has been talking about expanding beyond text-based messaging for some time. Today at Dreamforce, the Salesforce customer conference taking place this week, it announced Clips, a way to leave short video messages that people can watch at their leisure.
Slack CEO Stewart Butterfield sees Clips as a way to communicate with colleagues when a full 30 minutes meeting isn’t really required. Instead, you can let people know what’s going on through a brief video. “Clips are a way to record yourself on your screen. And the idea is that a lot of the meetings shouldn’t require us to be together in real time,” Butterfield said at a Dreamforce press event yesterday.
He added that these video clips provide more value because you can still get the point that would have been delivered in a full meeting without having to actually attend to get access to that information. What’s more, he says the videos create an audit trail of activity for archival purposes.
“It’s easily shareable with people who weren’t in attendance, but [still] get the update. It’s available in the archive, so you can go back and find the answers to questions you have or trace back the roots of a decision,” he said. It’s worth noting that Slack first introduced this idea last October, and announced an early customer beta last March, at which point they hadn’t even named it yet.
He admitted that this may require people to rethink how they work, and depending on the organization that may be harder in some places than others, but he believes that value proposition of freeing up employees to meet less and work more will eventually drive people and organizations to try it and then incorporate into the way that they work.
Clips builds on the Huddles tool released earlier this year, which is a way via audio to have serendipitous water cooler kinds of conversations, again as a way to reduce the need for a full-fledged meeting when people can get together for a few minutes, resolve an issue and get back to work. Butterfield says that Huddles has had the fastest adoption of any new capability since he first launched Slack.
In March, in a Clubhouse interview with SignalFire investor Josh Constine (who is also a former TechCrunch reporter), Butterfield said that the company was also working on a Clubhouse tool for business. The company did not announce any similar tool this week though.
The company also announced 16 integrations with Salesforce that span the entire Salesforce platform. These include the sales-focussed deal room and the customer support incident response called swarms announced earlier this month, as well as new connections to other tools in the Salesforce family of product including Mulesoft and Tableau and industry-specific integrations for banking, life sciences and philanthropy.
In case you had forgotten, Salesforce bought Slack at the end of last year in a mega deal worth almost $28 billion. Today, as part of the CRM giant, the company continues to build on the platform and product roadmap it had in place prior to the acquisition, while building in integrations all across the Salesforce platform.
By Ron Miller
Fivetran, the data connectivity startup, had a big day today. For starters it announced a $565 million investment on $5.6 billion valuation, but it didn’t stop there. It also announced its second acquisition this year, snagging HVR, a data integration competitor that had raised over $50M, for $700 million in cash and stock.
The company last raised a $100 million Series C on a $1.2 billion valuation, increasing the valuation by over 5x. As with that Series C, Andreessen Horowitz was back leading the round with participation from other double dippers General Catalyst, CEAS Investments, Matrix Partners and other unnamed firms or individuals. New investors ICONIQ Capital, D1 Capital Partners and YC Continuity also came along for the ride. The company reports it has now raised $730 million.
The HVR acquisition represents a hefty investment for the startup, grabbing a company for a price that is almost equal to all the money it has raised to date, but it provides a way to expand its market quickly by buying a competitor. Earlier this year Fivetran acquired Teleport Data as it continues to add functionality and customers via acquisition.
“The acquisition — a cash and stock deal valued at $700 million — strengthens Fivetran’s market position as one of the data integration leaders for all industries and all customer types,” the company said in a statement.
While that may smack of corporate marketing speak, there is some truth to it, as pulling data from multiple sources, sometimes in siloed legacy systems is a huge challenge for companies and both Fivetran and HVR have developed tools to provide the pipes to connect various data sources and put it to work across a business.
Data is central to a number of modern enterprise practices including customer experience management, which takes advantage of customer data to deliver customized experiences based on what you know about them, and data is the main fuel for machine learning models, which use it to understand and learn how a process works. Fivetran and HVR provide the nuts and bolts infrastructure to move the data around to where it’s needed, connecting to various applications like Salesforce, Box or Airtable, databases like Postgres SQL or data repositories like Snowflake or Databricks.
Whether bigger is better remains to be seen, but Fivetran is betting that it will be in this case as it makes its way along the startup journey. The transaction has been approved by both company’s boards. The deal is still subject to standard regulatory approval, but Fivetran is expecting it to close in October
By Ron Miller
Business, now more than ever before, is going digital, and today a startup that’s building a vertically integrated solution to meet business banking needs is announcing a big round of funding to tap into the opportunity. Airwallex — which provides business banking services both directly to businesses themselves, as well as via a set of APIs that power other companies’ fintech products — has raised $200 million, a Series E round of funding that values the Australian startup at $4 billion.
Lone Pine Capital is leading the round, with new backers G Squared and Vetamer Capital Management, and previous backers 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures and Sequoia Capital China, also participating.
The funding brings the total raised by Airwallex — which has head offices in Hong Kong and Melbourne, Australia — to date to $700 million, including a $100 million injection that closed out its Series D just six months ago.
Airwallex will be using the funding both to continue investing in its product and technology, as well as to continue its geographical expansion and to focus on some larger business targets. The company has started to make some headway into Europe and the UK and that will be one big focus, along with the U.S.
The quick succession of funding, and that rising valuation, underscore Airwallex’s traction to date around what CEO and co-founder Jack Zhang describes as a vertically integrated strategy.
That involves two parts. First, Airwallex has built all the infrastructure for the business banking services that it provides directly to businesses with a focus on small and medium enterprise customers. Second, it has packaged up that infrastructure into a set of APIs that a variety of other companies use to provide financial services directly to their customers without needing to build those services themselves — the so-called “embedded finance” approach.
“We want to own the whole ecosystem,” Zhang said to me. “We want to be like the Apple of business finance.”
That seems to be working out so far for Airwallex. Revenues were up almost 150% for the first half of 2021 compared to a year before, with the company processing more than US$20 billion for a global client portfolio that has quadrupled in size. In addition to tens of thousands of SMEs, it also, via APIs, powers financial services for other companies like GOAT, Papaya Global and Stake.
Airwallex got its start like many of the strongest startups do: it was built to solve a problem that the founders encountered themselves. In the case of Airwallex, Zhang tells me he had actually been working on a previous start-up idea. He wanted to build the “Blue Bottle Coffee” of Asia out of Hong Kong, and it involved buying and importing a lot of different materials, packaging and of course coffee from all around the world.
“We found that making payments as a small business was slow and expensive,” he said, since it involved banks in different countries and different banking systems, manual efforts to transfer money between them and many days to clear the payments. “But that was also my background — payments and trading — and so I decided that it was a much more fascinating problem for me to work on and resolve.”
Eventually one of his co-founders in the coffee effort came along, with the four co-founders of Airwallex ultimately including Zhang, along with Xijing Dai, Lucy Liu and Max Li.
It was 2014, and Airwallex got attention from VCs early on in part for being in the right place at the right time. A wave of startups building financial services for SMBs were definitely gaining ground in North America and Europe, filling a long-neglected hole in the technology universe, but there was almost nothing of the sort in the Asia Pacific region, and in those earlier days solutions were highly regionalized.
From there it was a no-brainer that starting with cross-border payments, the first thing Airwallex tackled, would soon grow into a wider suite of banking services involving payments and other cross-border banking services.
“In last 6 years, we’ve built more than 50 bank integrations and now offer payments 95 countries payments through a partner network,” he added, with 43 of those offering real-time transactions. From that, it moved on the bank accounts and “other primitive stuff” with card issuance and more, he said, eventually building an end-to-end payment stack.
Airwallex has tens of thousands of customers using its financial services directly, and they make up about 40% of its revenues today. The rest is the interesting turn the company decided to take to expand its business.
Airwallex had built all of its technology from the ground up itself, and it found that — given the wave of new companies looking for more ways to engage customers and become their one-stop shop — there was an opportunity to package that tech up in a set of APIs and sell that on to a different set of customers, those who also provided services for small businesses. That part of the business now accounts for 60% of Airwallex’s business, Zhang said, and is growing faster in terms of revenues. (The SMB business is growing faster in terms of customers, he said.)
A lot of embedded finance startups that base their business around building tech to power other businesses tend to stay arm’s length from offering financial services directly to consumers. The explanation I have heard is that they do not wish to compete against their customers. Zhang said that Airwallex takes a different approach, by being selective about the customers they partner with, so that the financial services they offer would never be the kind that would not be in direct competition. The GOAT marketplace for sneakers, or Papaya Global’s HR platform are classic examples of this.
However, as Airwallex continues to grow, you can’t help but wonder whether one of those partners might like to gobble up all of Airwallex and take on some of that service provision role itself. In that context, it’s very interesting to see Salesforce Ventures returning to invest even more in the company in this round, given how widely the company has expanded from its early roots in software for salespeople into a massive platform providing a huge range of cloud services to help people run their businesses.
For now, it’s been the combination of its unique roots in Asia Pacific, plus its vertical approach of building its tech from the ground up, plus its retail acumen that has impressed investors and may well see Airwallex stay independent and grow for some time to come.
“Airwallex has a clear competitive advantage in the digital payments market,” said David Craver, MD at Lone Pine Capital, in a statement. “Its unique Asia-Pacific roots, coupled with its innovative infrastructure, products and services, speak volumes about the business’ global growth opportunities and its impressive expansion in the competitive payment providers space. We are excited to invest in Airwallex at this dynamic time, and look forward to helping drive the company’s expansion and success worldwide.”
By Ingrid Lunden
Flippa, an online marketplace to buy and sell online businesses and digital assets, announced its first venture-backed round, an $11 million Series A, as it sees over 600,000 monthly searches from investors looking to connect with business owners.
OneVentures led the round and was joined by existing investors Andrew Walsh (former Hitwise CEO), Flippa co-founders Mark Harbottle and Matt Mickiewicz, 99designs, as well as new investors Catch.com.au founders Gabby and Hezi Leibovich; RetailMeNot.com founders Guy King and Bevan Clarke; and Reactive Media founders Tim O’Neill and Tim Fouhy.
The company, with bases in both Austin and Australia, was started in 2009 and facilitates exits for millions of online business owners that operate on e-commerce marketplaces, blogs, SaaS and apps, the newest being Shopify, Blake Hutchison, CEO of Flippa, told TechCrunch.
He considers Flippa to be “the investment bank for the 99%,” of small businesses, providing an end-to end platform that includes a proprietary valuation product for businesses — processing over 4,000 valuations each month — and a matching algorithm to connect with qualified buyers.
Business owners can sell their companies directly through the platform and have the option to bring in a business broker or advisor. The company also offers due diligence and acquisition financing from Thrasio-owned Yardline Capital and a new service called Flippa Legal.
“Our strategy is data,” Hutchison said. “Users can currently connect to Stripe, QuickBooks Online, WooCommerce, Google Analytics and Admob for apps, which means they can expose their online business performance with one-click, and buyers can seamlessly assess financial and operational performance.”
Online retail, as a share of total retail sales, grew to 19.6% in 2020, up from 15.8% in 2019, driven largely by the global pandemic as sales shifted online while brick-and-mortar stores closed.
Meanwhile, Amazon has 6 million sellers, and Shopify sellers run over 1 million businesses. This has led to an emergence of e-commerce aggregators, backed by venture capital dollars, that are scooping up successful businesses to grow, finding many through Flippa’s marketplace, Hutchison said.
Flippa has over 3 million registered users and added 300,000 new registered users in the past 12 months. Overall transaction volume grows 100% year over year. Though being bootstrapped for over a decade, the company’s growth and opportunity drove Hutchison to go after venture capital dollars.
“There is a huge movement toward this being recognized as an asset class,” he said. “At the moment, the asset class is undervalued and driving a massive swarm as investors snap up businesses and aggregate them together. We see the future of these aggregators becoming ‘X company for apps’ or ‘X for blogs.’ ”
As such, the new funding will be used to double the company’s headcount to more than 100 people as it builds out its offices globally, as well as establishing outposts in Melbourne, San Francisco and Austin. The company will also invest in marketing and product development to scale its business valuation tool that Hutchison likens to the “Zillow Zestimate,” but for online businesses.
Nigel Dews, operating partner at OneVentures, has been following Flippa since it started. His firm is one of the oldest venture capital firms in Australia and has 30 companies in its portfolio focused on healthcare and technology.
He believes the company will create meaningful change for small businesses. The team combined with Flippa’s ability to connect buyers and sellers puts the company in a strong leadership position to take advantage of the marketplace effect.
“Flippa is an incredible opportunity for us,” he added. “You don’t often get a world-leading business in a brand new category with incredible tailwinds. We also liked that the company is based in Australia, but half of its revenue comes from the U.S.”
By Christine Hall
It’s been a heady 12-18 months for Zoom, the decade-old company that experienced monster 2020 growth and more recently, a mega acquisition with the $14.7 billion Five9 deal in July. That addition is part of a broader strategy the company has been undertaking the last couple of years to move beyond its core video conferencing market into adjacencies like phone, meeting management and messaging, among other things. Here’s a closer look at how the plan is unfolding.
As the pandemic took hold in March 2020, everyone from businesses to schools to doctors and and places of worship moved online. As they did, Zoom video conferencing became central to this cultural shift and the revenue began pouring in, ushering in a period of sustained triple-digit growth for the company that only recently abated.
By Ron Miller
Aircover raised $3 million in seed funding to continue developing its real-time sales intelligence platform.
Defy Partners led the round with participation from Firebolt Ventures, Flex Capital, Ridge Ventures and a group of angel investors.
The company, headquartered in the Bay Area, aims to give sales teams insights relevant to closing the sale as they are meeting with customers. Aircover’s conversational AI software integrates with Zoom and automates parts of the sales process to lead to more effective conversations.
“One of the goals of launching the Zoom SDK was to provide developers with the tools they need to create valuable and engaging experiences for our mutual customers and integrations ecosystem,” said Zoom’s CTO Brendan Ittelson via email. “Aircover’s focus on building sales intelligence directly into the meeting, to guide customer-facing teams through the entire sales cycle, is the type of innovation we had envisioned when we set out to create a broader platform.”
Aircover’s founding team of Andrew Levy, Alex Young and Andrew’s brother David Levy worked together at Apteligent, a company co-founded and led by Andrew Levy, that was sold to VMware in 2017.
Chatting about pain points on the sales process over the years, Levy said it felt like the solution was always training the sales team more. However, by the time everyone was trained, that information would largely be out-of-date.
Instead, they created Aircover to be a software tool on top of video conferencing that performs real-time transcription of the conversation and then analysis to put the right content in front of the sales person at the right time based on customer issues and questions. This means that another sales expert doesn’t need to be pulled in or an additional call scheduled to provide answers to questions.
“We are anticipating that knowledge and parsing it out at key moments to provide more leverage to subject matter experts,” Andrew Levy told TechCrunch. “It’s like a sales assistant coming in to handle any issue.”
He considers Aircover in a similar realm with other sales team solutions, like Chorus.ai, which was recently scooped up by ZoomInfo, and Gong, but sees his company carving out space in real-time meeting experiences. Other tools also record the meetings, but to be reviewed after the call is completed.
“That can’t change the outcome of the sale, which is what we are trying to do,” Levy added.
The new funding will be used for product development. Levy intends to double his small engineering team by the end of the month.
He calls what Aircover is doing a “large interesting problem we are solving that requires some difficult technology because it is real time,” which is why the company was eager to partner with Bob Rosin, partner at Defy Partners, who joins Aircover’s board of directors as part of the investment.
Rosin joined Defy in 2020 after working on the leadership teams of Stripe, LinkedIn and Skype. He said sales and customer teams need tools in the moment, and while some are useful in retrospect, people want them to be live, in front of the customer.
“In the early days, tools helped before and after, but in the moment when they need the most help, we are not seeing many doing it,” Rosin added. “Aircover has come up with the complete solution.”
By Christine Hall
Mirantis has been around the block, starting way back as an OpenStack startup, but a few years ago the company began to embrace cloud-native development technologies like containers, microservices and Kubernetes. Today, it announced Mirantis Flow, a fully managed open source set of services designed to help companies manage a cloud-native data center environment, whether your infrastructure lives on-prem or in a public cloud.
“We’re about delivering to customers an open source-based cloud-to-cloud experience in the data center, on the edge, and interoperable with public clouds,” Adrian Ionel, CEO and co-founder at Mirantis explained.
He points out that the biggest companies in the world, the hyperscalers like Facebook, Netflix and Apple, have all figured out how to manage in a hybrid cloud-native world, but most companies lack the resources of these large organizations. Mirantis Flow is aimed at putting these same types of capabilities that the big companies have inside these more modest organizations.
While the large infrastructure cloud vendors like Amazon, Microsoft and Google have been designed to help with this very problem, Ionel says that these tend to be less open and more proprietary. That can lead to lock-in, which today’s large organizations are looking desperately to avoid.
“[The large infrastructure vendors] will lock you into their stack and their APIs. They’re not based on open source standards or technology, so you are locked in your single source, and most large enterprises today are pursuing a multi-cloud strategy. They want infrastructure flexibility,” he said. He added, “The idea here is to provide a completely open and flexible zero lock-in alternative to the [big infrastructure providers, but with the] same cloud experience and same pace of innovation.”
They do this by putting together a stack of open source solutions in a single service. “We provide virtualization on top as part of the same fabric. We also provide software-defined networking, software-defined storage and CI/CD technology with DevOps as a service on top of it, which enables companies to automate the entire software development pipeline,” he said.
As the company describes the service in a blog post published today, it includes “Mirantis Container Cloud, Mirantis OpenStack and Mirantis Kubernetes Engine, all workloads are available for migration to cloud native infrastructure, whether they are traditional virtual machine workloads or containerized workloads.”
For companies worried about migrating their VMware virtual machines to this solution, Ionel says they have been able to move these VMs to the Mirantis solution in early customers. “This is a very, very simple conversion of the virtual machine from VMware standard to an open standard, and there is no reason why any application and any workload should not run on this infrastructure — and we’ve seen it over and over again in many many customers. So we don’t see any bottlenecks whatsoever for people to move right away,” he said.
It’s important to note that this solution does not include hardware. It’s about bringing your own hardware infrastructure, either physical or as a service, or using a Mirantis partner like Equinix. The service is available now for $15,000 per month or $180,000 annually, which includes: 1,000 core/vCPU licenses for access to all products in the Mirantis software suite plus support for 20 virtual machine (VM) migrations or application onboarding and unlimited 24×7 support. The company does not charge any additional fees for control plane and management software licenses.
By Ron Miller