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VoDaVi <b>VoIP</b> managed services

Google News - VoIP - 2021, January 19 - 11:37pm
It offers a range of technical services, with powerful custom solutions for businesses of all shapes and sizes. In the rest of this VoDaVi VoIP evaluation, ...
Categories: VoIP News

StackPulse announces $28M investment to help developers manage outages

Startup News - 2021, January 19 - 11:21pm

When a system outage happens, chaos can ensue as the team tries to figure out what’s happening and how to fix it. StackPulse, a new startup that wants to help developers manage these crisis situations more efficiently, emerged from stealth today with a $28 million investment.

The round actually breaks down to a previously unannounced $8 million seed investment and a new $20 million Series A. GGV led the A round, while Bessemer Venture Partners led the seed and also participated in the A. Glenn Solomon at GGV and Amit Karp at Bessemer will join the StackPulse board.

Nobody is immune to these outages. We’ve seen incidents from companies as varied as Amazon and Slack in recent months. The biggest companies like Google, Facebook and Amazon employ site reliability engineers and build customized platforms to help remediate these kinds of situations. StackPulse hopes to put this kind of capability within reach of companies, whose only defense is the on-call developers.

Company co-founder and CEO Ofer Smadari says that in the midst of a crisis with signals coming at you from Slack and PagerDuty and other sources, it’s hard to figure out what’s happening. StackPulse is designed to help sort out the details to get you back to equilibrium as quickly as possible.

FireHydrant lands $8M Series A for disaster management tool

First off, it helps identify the severity of the incident. Is it a false alarm or something that requires your team’s immediate attention or something that can be put off for a later maintenance cycle? If there is something going wrong that needs to be fixed right now, StackPulse can not only identify the source of the problem, but also help fix it automatically, Smadari explained.

After the incident has been resolved, it can also help with a post-mortem to figure out what exactly went wrong by pulling in all of the alert communications and incident data into the platform.

As the company emerges from stealth, it has some early customers, and 35 employees based in Portland, Oregon and Tel Aviv. Smadari says that he hopes to have 100 employees by the end of this year. As he builds the organization, he is thinking about how to build a diverse team for a diverse customer base. He believes that people with diverse backgrounds build a better product. He adds that diversity is a top level goal for the company, which already has an HR leader in place to help.

Glenn Solomon from GGV, who will be joining the company board, saw a strong founding team solving a big problem for companies and wanted to invest. “When they described the vision for the product they wanted to build, it made sense to us,” he said.

Customers are impatient with down time and Solomon sees developers on the front line trying to solve these issues. “Performance is more important than ever. When there is downtime, it’s damaging to companies,” he said. He believes StackPulse can help.

How you react when your systems fail may define your business

Categories: Business News

UK’s WhiteHat rebrands as Multiverse, raises $44M to build tech apprenticeships in the US

Startup News - 2021, January 19 - 11:08pm

University education is getting more expensive, and at the moment it feels a bit like a Petri dish for infections, but the long-term trends continue to show a dramatic growth in the number of people worldwide getting degrees beyond high school, with one big reason for this being that a college degree generally provides better economic security.

But today, a startup that is exploring a different route for those interested in technology and knowledge worker positions — specifically by way of apprenticeships to bring in and train younger people on the job — is announcing a significant round of growth funding to see if it can provide a credible, scalable alternative to that model.

Multiverse, a U.K. startup that works with organizations to develop these apprenticeships, and then helps source promising, diverse candidates to fill those roles, has raised $44 million, funding that it will be using to spearhead a move into the U.S. market after picking up some 300 clients in the U.K. and thousands of apprentices.

The Series B is being led by General Catalyst (which has been especially active this week with U.K. startups: it also led a large round yesterday for Bloom & Wild), with GV (formerly known as Google Ventures), Audacious Ventures, Latitude and SemperVirens also participating. Index Ventures and Lightspeed Venture Partners, which first invested in the company in its $16 million Series A in 2020, also participated.

Valuation is not being disclosed, but for what it’s worth, the round was one that generated a lot of interest. In between getting pitched this story and publishing it, the size of the Series B grew by $8 million (it was originally closed at $36 million). The FT notes that the valuation was around $200 million with this round, but the company says that is “speculation on the FT’s part.”

UK’s Bloom & Wild raises $102M to seed its flower delivery service across Europe

The company was originally co-founded as WhiteHat and is officially rebranding today. Co-founder Euan Blair (who happens to be the son of the former U.K. Prime Minister Tony Blair and his accomplished barrister wife Cherie Booth Blair) said the name change was because the original name was a reference to how the startup sought to “hack the system for good.”

However, he added, “The scale has become bigger and more evolved.” The new name is to convey that — as in gaming, which is probably the arena where you might have heard this term before — “anything is possible.”

There are “multiple universes” one can inhabit as a post-18 young adult, Blair continued. While it’s been assumed that to get into tech, the obvious route was a two-to-four year (and often more) tour through college or university to pick up a higher education degree, the bet that Multiverse is making here is that apprenticeships can easily, and widely, become another. “We want to build an outstanding alternative to university and college,” he said. These typically last 1.5 years. 

The idea of an “outstanding alternative” is especially important when thinking of how to target more marginalized groups and how this ties up with how tech companies are looking to be more diverse in the future, without cutting down on the quality of what people are getting out of the experience, or the resulting talent that is getting recruited.

There’s long been a stigma attached to less prestigious institutions, and putting money or effort into another channel to perpetuate that doesn’t really make sense or point to progress.

Blair said that currently over half of the people making their way through Multiverse are people of color, and 57% are women, and the plan is to build tools to make that an even firmer part of its mission. 

The startup sees itself as part tech company and part education enterprise.

It works with tech companies and others to open up opportunities for people who have not had any higher education or any training, where fresh high school graduates can come in, learn the ropes of a job while getting paid and then continue on working their way up the ladder with that knowledge base in place.

Apprenticeships on the platform right now range from data analysts through to exhibition designers, and the idea is that by opening up and targeting the U.S. market, the breadth, number and location of roles will grow.

This is not just a social enterprise: There is actual money in this area. Blair said that prices it charges the companies it works with range by qualification, “but are broadly around the $15,000 mark.” (The individuals applying don’t pay anything, and they will also be paid by the companies providing the apprenticeships.)

On the educational front, Multiverse doesn’t just connect people as a recruiter might: it has a team in place to build out what the “curriculum” might be for a particular apprenticeship, and how to deliver and train people with the requisite skills alongside the practice experience of working, and more.

That latter role, of course, has taken on a more poignant dimension in the last year: Concepts like remote training and virtual mentorship have very much come into their own at a time when offices are largely standing empty to help reduce the spread of COVID-19.

Regardless of what happens in the year ahead — fingers crossed that vaccinations and other efforts will help us collectively move past where we are right now — many believe that the infrastructure that has been put into place to keep working virtually will continue to be used, which bodes well for a company like Multiverse that is building a business around that, both with technology it creates itself and will bring in from third parties and partners.

Indeed, the ecosystem of companies building tools to deliver educational content, provide training and work collaboratively has really boomed in the pandemic, giving companies like Multiverse a large library of options for how to bring people into new work situations. (Google, which is now an investor in Multiverse, is very much one of the makers of such education tools.)

Apprenticeships are an interesting area for a startup to tackle. Traditionally, it’s a term that would have been associated mainly with skilled labor positions, rather than “knowledge workers.”

But you can argue that with the bigger swing that the globe has seen away from industrial and towards knowledge economies, there is an argument to be made for building more enterprises and opportunities for an ever wider pool of users, rather than expecting everyone to be shoehorned into the models of the last 50 years. (The latter would essentially imply that college is possibly the only way up.)

You might also be fair to claim that Blair’s connections helped him secure funding and open doors with would-be customers, and that might well be the case, but ultimately the startup will live or die by how well it executes on its premise, whether it finds a good way to connect more people, engage them in opportunities and keep them on board.

This is what really attracted the investors, said Joel Cutler, managing director and co-founder of General Catalyst.

“Euan has a genuine belief that this is important, and when you talk to him, you get a  feeling of manifest destiny,” Cutler said in an interview. In response to the question of family connections, he said that this was precisely the kind of issue that the technology industry should be tackling to fight.

“Of all the industries to break the mold of where you went to school, it should be the tech world that will do that, since it is far more of a meritocracy than others. This is the perfect place to start to break that mold,” he said. “Education will be super valuable but apprenticeships will also be important.” He noted that another company that General Catalyst invests in, Guild Education, is addressing similar opportunities, or rather the gaps in current opportunities, for older people.

Categories: Business News

Microsoft invests in Cruise in new $2 billion round

Startup News - 2021, January 19 - 11:04pm

Cruise has raised $2 billion in a new equity round that has pushed its valuation up to $30 billion and delivered Microsoft as an investor and partner.

GM, Honda and other institutional investors have also put more capital into Cruise as the autonomous vehicle company inches closer to commercializing its technology.

While Microsoft’s capital is important, the partnership might provide equal and longer-term value for Cruise, at least in the two companies’ views. Under the long-term strategic partnership, Cruise will use Azure, Microsoft’s cloud and edge computing platform, for its yet-to-be launched autonomous vehicle ride-hailing service.

Any autonomous vehicle company aiming to commercialize — meaning bring their tech to the public at scale — needs a robust cloud computing platform. Operating fleets of self-driving vehicles that will shuttle people and even packages generates a massive amount of data, making cloud services one of the bigger costs for an AV company.

Cruise’s partnership with Microsoft aims to provide benefits for both companies. Cruise will be able to lock in lower prices for cloud services and Microsoft will be able to test some of its bleeding-edge systems that can handle workloads needed to bring machine learning and robotics — like autonomous vehicles — to life and at scale.

“Advances in digital technology are redefining every aspect of our work and life, including how we move people and goods,” Microsoft CEO Satya Nadella said in a statement. “As Cruise and GM’s preferred cloud, we will apply the power of Azure to help them scale and make autonomous transportation mainstream.”

The partnership extends to GM as well, according to Tuesday’s announcement. Microsoft will be GM’s preferred public cloud provider to help the automaker accelerate several of it digitization initiatives as well as streamline operations across digital supply chains.

The partnership will not only allow Cruise to accelerate the commercialization of its all-electric, self-driving vehicles, it helps “GM realize even more benefits from cloud computing as we launch 30 new electric vehicles globally by 2025 and create new businesses and services to drive growth, GM Chairman and CEO Mary Barra said.

Cruise taps former Delta executive for COO post as it creeps toward commercialization

Categories: Business News

Comtech Awarded Toronto Police Contract Valued at $2.9 Million for Next Generation 911

Google News - VoIP - 2021, January 19 - 11:03pm
The intuitive user interface allows Call Takers to quickly assess, prioritize and handle landline, wireless and VoIP calls. Call Takers can quickly create ...
Categories: VoIP News

Noction Releases a New Version of Its Free Network Performance Optimization Software - IRP Lite ...

Google News - VoIP - 2021, January 19 - 11:03pm
... of the maximum network performance for business-critical applications such as e-commerce, VoIP, and media streaming across IP networks.
Categories: VoIP News

ETH spin-off LatticeFlow raises $2.8M to help build trustworthy AI systems

Startup News - 2021, January 19 - 11:00pm

LatticeFlow, an AI startup that was spun out of ETH Zurich in 2020, today announced that it has raised a $2.8 million seed funding round led by Swiss deep-tech fund btov and Global Founders Capital, which previously backed the likes of Revolut, Slack and Zalando.

The general idea behind LatticeFlow is to build tools that help AI teams build and deploy AI models that are safe, reliable and trustworthy. The problem today, the team argues, is that models get very good at finding the right statistical patterns to hit a given benchmark. That makes them inflexible, though, since these models were optimized for accuracy in a lab setting, not for robustness in the real world.

“One of the most commonly used paradigms for evaluating machine learning models is just aggregate metrics, like accuracy. And, of course, this is a super coarse representation of how good a model really is,” Pavol Bielik, the company’s CTO explained. “What we want to do is, we provide systematic ways of monitoring models, assessing their reliability across different relevant data slices and then also provide tools for improving these models.”

Image Credits: LatticeFlow

Building these kinds of models that are more flexible yet still provide robust results will take a new arsenal of tools, though, as well as the right team with deep expertise in these areas. Clearly, though, this is a founding team with the right background. In addition to CTO Bielik, the founding team includes Petar Tsankov, the company’s CEO and former senior researcher and lecturer at ETH Zurich, as well as ETH professors Martin Vechev, who leads the Secure, Reliable and Intelligence Systems lab at ETH, and Andreas Krause, who leads ETH’s Learning & Adaptive Systems lab. Tsankov’s last startup, DeepCode, was acquired by cybersecurity firm Snyk in 2020.

Snyk bags another $200M at $2.6B valuation 9 months after last raise

It’s also worth noting that Vechev, who previously co-founded ETH spin-off ChainSecurity, and his group at ETH previously developed ERAN, a verifier for large deep learning models with millions of parameters, that last year won the first competition for certifying deep neural networks. While the team was already looking at creating a company before winning this competition, Vechev noted that gave the team the confirmation that it was on the right path.

Image Credits: LatticeFlow

“We want to solve the main AI problem, which is making AI usable. This is the overarching goal,” Vechev told me. “[…] I don’t think you can actually found the company just purely based on the certification work. I think the kinds of skills that people have in the company, my group, Andreas [Krause]’s group, they all complement each other and cover a huge space, which I think is very, very unique. I don’t know of other companies who have covered this range of skills in these pressing points and have done groundbreaking work before.”

LatticeWorks already has a set of pilot customers who are trialing its tools. These include Swiss railways (SBB), which is using it to build a tool for automatic rail inspections, Germany’s Federal Cyber Security Bureau and the U.S. Army. The team is also working with other large enterprises that are using its tools to improve their computer vision models.

“Machine Learning (ML) is one of the core topics at SBB, as we see a huge potential in its application for an improved, intelligent and automated monitoring of our railway infrastructure,” said Dr. Ilir Fetai and Andre Roger, the leads of SBB’s AI team. “The project on robust and reliable AI with LatticeFlow, ETH, and Siemens has a crucial role in enabling us to fully exploit the advantages of using ML.”

For now, LatticeFlow remains in early access. The team plans to use the funding to accelerate its product development and bring on new customers. The team also plans to build out a presence in the U.S. in the near future.

Categories: Business News

Conversa Health expands its Series B round to $20M

Startup News - 2021, January 19 - 11:00pm

Portland, Oregon-based Conversa Health, a virtual care and communication platform that helps health organizations stay in touch with their patients and customers, today announced that it has expanded its Series B funding round from $12 million to $20 million. The round is still co-led by Builders VC and Northwell Health’s venture arm Northwell Ventures. Additional investors include UH Ventures, the venture arm of University Hospitals and VC firms P5 Health Ventures, Epic Ventures, StartUp Health and Nassau Street Ventures, as well Genesis Merchant Capital and J-Ventures, which came in as new investors in this expanded round.

“There’s been a recognition, especially with COVID, that the need for automated and virtual — which are two big trends in healthcare — were on the horizon but now the horizon has been pulled in because of COVID and the healthcare system recognizes that that’s going to be required to be able to allow access for patients and improve both the experience for patients and providers, and get better outcomes and do it at lower cost,” Conversa CEO Murray Brozinsky told me.

Brozinsky actually believes that within the next decade, 80% of care will be done remotely. This will allow for more personalized and evidence-based care, but it will also require investments in automation.

“Conversa links providers’ EHRs and other patient data to best-of-breed interactive digital care pathways and clinical analytics engine to automate care management 24×7. This improves care plan adherence pre and post visit, reducing costs and generating better outcomes for patients,” said Builders VC partner and Conversa board member Mark Goldstein. “Conversa’s enterprise platform and library of digital pathways are used by providers to care for patients across their populations, as opposed to one-off point solutions. It fills an enormous gap in the market.”

Conversa Health raises $12M Series B for its digital health platform

Given the pandemic, it’s maybe no surprise that Conversa’s business also boomed. The number of customers the company its services has grown fourfold while its financial metrics are up 6x because a lot of its larger companies have expanded their use of the platform.

The team decided to expand the existing Series B round to help it capitalize on this momentum and to bring on more engineers in order to scale the platform. Brozinsky believes that the need for a platform like Conversa’s will remain after the pandemic ends. In addition, the company is also already rolling out support for vaccination programs in its service to help educate consumers but also help in monitoring efforts after people get their shots.

“Everything we’re hearing from health systems, they recognize that they need to be prepared for this to happen again, they still need to care for the core demographics that haven’t changed — this aging population — with an acute shortage of healthcare workers,” Brozinsky said. “So the need for the systems and these platforms is going to be more acute and the investment is not so much an additional cost but an enormous return.”

Categories: Business News

Global <b>VoIP</b> Services Market Top Players 2026: Cisco, Vonage, Jive Communications, Dialpad ...

Google News - VoIP - 2021, January 19 - 10:45pm
Scope: The report is a ready-to-refer guide to comprehend valuation of the VoIP Services market, besides also focusing on volumetric returns likely to ...
Categories: VoIP News

Mobile <b>VOIP</b> (mVOIP) Market 2020 Determined By Manufacturing Summary, Business Profile And ...

Google News - VoIP - 2021, January 19 - 10:30pm
The Mobile VOIP (mVOIP) Market report includes overview, which interprets value chain structure, industrial environment, regional analysis, ...
Categories: VoIP News

Global Business <b>VoIP</b> Services Market Status 2021 Expecting To Witness Massive Growth By 2025 ...

Google News - VoIP - 2021, January 19 - 10:07pm
“The latest study report titled as ”Global Business VoIP Services Market” report is detailed analysis given by IMR Research to offer a comprehensive ...
Categories: VoIP News

K Health expands into virtual childcare and raises $132 million at a $1.5 billion valuation

Startup News - 2021, January 19 - 10:05pm

K Health, the virtual healthcare provider that uses machine learning to lower the cost of care by providing the bulk of the company’s health assessments, is launching new tools for childcare on the heels of raising cash that values the company at $1.5 billion.

The $132 million round raised in December will help the company expand and help pay for upgrades, including an integration with most electronic health records — an integration that’s expected by the second quarter.

Throughout 2020 K Health has leveraged its position operating at the intersection of machine learning and consumer healthcare to raise $222 million in a single year.

This appetite from investors shows how large the opportunity is in consumer healthcare as companies look to use technology to make care more affordable.

For K Health, that means a monthly subscription to its service of $9 for unlimited access to the service and physicians on the platform, as well as a $19 per-month virtual mental health offering and a $19 fee for a one-time urgent care consultation.

To patients and investors the pitch is that the data K Health has managed to acquire through partnerships with organizations like the Israel health maintenance organization Maccabi Healthcare Services, which gave up decades of anonymized data on patients and health outcomes to train K Health’s predictive algorithm, can assess patients and aid the in diagnoses for the company’s doctors.

In theory that means the company’s service essentially acts as a virtual primary care physician, holding a wealth of patient information that, when taken together, might be able to spot underlying medical conditions faster or provide a more holistic view into patient care.

For pharmaceutical companies that could mean insights into population health that could be potentially profitable avenues for drug discovery.

In practice, patients get what they pay for.

The company’s mental health offering uses medical doctors who are not licensed psychiatrists to perform their evaluations and assessments, according to one provider on the platform, which can lead to interactions with untrained physicians that can cause more harm than good.

While company chief executive Allon Bloch is likely correct in his assessment that most services can be performed remotely (Bloch puts the figure at 90%), they should be performed remotely by professionals who have the necessary training.

There are limits to how much heavy lifting an algorithm or a generalist should do when it comes to healthcare, and it appears that K Health wants to push those limits.

“Drug referrals, acute issues, prevention issues, most of those can be done remotely,” Bloch said. “There’s an opportunity to do much better and potentially cheaper. 

K Health has already seen hundreds of thousands of patients either through its urgent care offering or its subscription service and generated tens of millions in revenue in 2020, according to Bloch. He declined to disclose how many patients used the urgent care service versus the monthly subscription offering.

Telemedicine companies, like other companies providing services remotely, have thrived during the pandemic. Teladoc and Amwell, two of the early pioneers in virtual medicine, have seen their share prices soar.

Backing K Health are a group of investors led by GGV Capital and Valor Equity Partners. Kaiser Permanente’s pension fund and the investment offices of the owners of 3G Capital (the Brazilian investment firm that owns Burger King and Kraft Heinz), along with 14W, Max Ventures, Pico Partners, Marcy Venture Partners, Primary Venture Partners and BoxGroup also participated in the round. 

Organizations working with the company include Maccabi Healthcare; the Mayo Clinic, which is investigating virtual care models with the company; and Anthem, which has white-labeled the K Health service and provides it to some of the insurer’s millions of members.

Categories: Business News

Zyxel Communications Launches a Complete XGS-PON CPE Product Line Delivering 10G ...

Google News - VoIP - 2021, January 19 - 9:56pm
The PX7511, which features one 10GbE LAN and four GbE LAN ports, two VoIP ports and one USB 3.0 port, supports 10Gbps symmetric speed with the ...
Categories: VoIP News

PPRO nabs $180M at a $1B+ valuation to bring together the fragmented world of payments

Startup News - 2021, January 19 - 9:15pm

The pandemic has hastened a shift of most commerce becoming e-commerce in the last year, and that has brought a new focus on startups that are helping to enable that process.

In the latest development, PPRO, a London-based startup that has built a platform to make it easier for marketplaces, payment providers and other e-commerce players to enable localised payments — that is, make and take payments in whatever form local customers prefer to use, which extend well beyond basic payment cards — has closed a round of $180 million, funding that catapults PPRO’s valuation to over $1 billion.

PPRO (pronounced “P-pro”, as in payments professionals) plans to use the funding to continue expanding in newer markets.

Simon Black, PPRO’s CEO, said in an interview that two particular areas of focus in the coming year will be more activity in Asian countries like Singapore and Indonesia, as well as Latin America, where the company acquired a local player, allpago, back in 2019.

In both cases, the opportunity comes in the form of high growth stemming from more transactions moving online, as well as the chaos that is the fragmented payments market.

The capital is coming from a group of investors that includes Eurazeo Growth, Sprints Capital and Wellington Management. It comes on the heels of a $50 million round the company raised last August from Sprints, along with Citi and HPE Growth; and a further $50 million it picked up in 2018 led by strategic investor PayPal.

PayPal leads $50M round for PPRO, a profitable cross-border payment specialist

PayPal, alongside Citi, Mastercard Payment Gateway Services, Mollie and Worldpay are among PPRO’s 100 large global customers, which use the company’s APIs for a variety of functions, including localised gateway, processing and merchant acquirer services.

The flood of activity coming from consumers and businesses buying more online — a by-product of the pandemic leading to many businesses shutting down physical operations for the moment — has seen the company double transaction volumes between Q4 2020 and the same quarter in 2019.

PPRO is not the only company to be targeting that opportunity.

The fragmentation of financial services overall — where realistically, there is only a handful of types of transactions that might be made (usually: deposits, payments, credit), but quite literally thousands of permutations and methods to make them, with specific markets and their populations typically coalescing around their own localised selections.

That has led to the rise of a number of companies providing what has come to be called “banking as a service” or “fintech as a service,” where a tech provider stitches together in the background a number of services, sometimes thousands, and makes it easier for their customers, by way of an API, to plug in those services for their own customers to use more easily, most often connected to a range of other services provided to them like money management.

Others in this wider space that includes payments and other fintech services include the likes of Rapyd, Mambu, Thought Machine, Temenos, Edera, Adyen, Stripe and newer players like Unit, with many of these raising large amounts of money in recent times in particular to double down on what is currently a rapidly expanding market.

Unit raises $18.6M to offer banking features as a service

The unique aspect of PPRO is that it was an early mover in the area of identifying the conundrum of fragmentation in payments for companies that operate in more than one country or region, and that it has continued to play only in payments, without a jump to adjacent services.

“We’re ultra focused because the local payments problem is actually growing,” said Black, who believes that “the disconnect between what a consumer wants to use, but also their appetite and the proliferation of payment options” all contribute to more complexity (with the trade-off being more choices for consumers, but equally possibly too much choice?).

As Black sees it, the company’s focus on payments has given it more momentum to build better tech specifically to address that globally.

“PPRO is building solutions for performance in industrial strength. It’s growing rapidly because there are no other players that are truly global. We are globalizing to support the needs of customers who want to nationalize, so we have an opportunity to focus on payments, to be a strategic outsource partner.”

This doesn’t mean that there isn’t room for product expansion: alongside payments, Black highlighted product compliance and providing better analytics as two areas where the company is already active and will be doing more for customers.

“Where we partner and provide value is in anticipating changes in consumer demand,” he noted. “We monitor how customers are using those methods and — whether you are a service provider or furniture or travel company — determine which are the best relevant payment methods.” Services like open banking, tools for banks to enable allowing payments directly from customers’ accounts, or buy-now-pay-later payments, are examples, he said, of areas that speak of further opportunities.

Mambu raises $135M at a $2B+ valuation for a SaaS platform that powers banking services

“We are delighted to support Simon and the team at PPRO as they continue to develop best-in-class local payment solutions,” commented Nathalie Kornhoff-Brüls, managing director at Eurazeo Growth, in a statement. “All signs for the future indicate that digital commerce, and even more so cross-border commerce, will continue to grow exponentially while innovation in payment methods remains strong. As a result, facilitating local payments is becoming increasingly complex. Payment service providers, however, no longer have a choice as merchants and their customers are pushing for the adoption.”

“PPRO has proven to be the go-to problem solver in this area, providing the local payments technology and expertise that the world’s biggest payment players rely on. Our investment reflects our confidence in the growth potential for PPRO and we’re excited to support PPRO and its team on their journey,” added Voria Fattahi, a partner at Sprints Capital, in a separate statement.

Categories: Business News

Latest Insights Published On Europe Internet Protocol Private Branch Exchange (IP PBX) Market ...

Google News - VoIP - 2021, January 19 - 9:00pm
Unlike PSTN PBX, IP PBX has the ability to switch, forward and route the calls between VoIP networks to PSTN and PSTN to VoIP. IP PBX services are ...
Categories: VoIP News

Impact Of Covid-19 on <b>VoIP</b> (Voice over Internet Protocol) Market 2020 Industry Challenges ...

Google News - VoIP - 2021, January 19 - 8:44pm
Overview for “VoIP (Voice over Internet Protocol) Market” Helps in providing scope and definitions, Key Findings, Growth Drivers, and Various ...
Categories: VoIP News

Anaheim Ducks selects 8×8 as official <b>VoIP</b> provider

Google News - VoIP - 2021, January 19 - 8:03pm
The voice over IP vendor 8×8 Inc., has announced that the Anaheim Ducks National Hockey League (NHL) team and the Honda Center, one of the ...
Categories: VoIP News

Qualcomm-backed chipmaker Kneron nails Foxconn funding, deal

Startup News - 2021, January 19 - 7:00pm

A startup based out of San Diego and Taipei is quietly nailing fundings and deals from some of the biggest names in electronics. Kneron, which specializes in energy-efficient processors for edge artificial intelligence, just raised a strategic funding round from Taiwan’s manufacturing giant Foxconn and integrated circuit producer Winbond.

The deal came a year after Kneron closed a $40 million round led by Hong Kong tycoon Li Ka-Shing’s Horizons Ventures. Amongst its other prominent investors are Alibaba Entrepreneurship Fund, Sequoia Capital, Qualcomm and SparkLabs Taipei.

Kneron declined to disclose the dollar amount of the investment from Foxconn and Winbond due to investor requests but said it was an “eight figures” deal, founder and CEO Albert Liu told TechCrunch in an interview.

Founded in 2015, Kneron’s latest product is a neural processing unit that can enable sophisticated AI applications without relying on the cloud. The startup is directly taking on the chips of Intel and Google, which it claims are more energy-consuming than its offering. The startup recently got a talent boost after hiring Davis Chen, Qualcomm’s former Taipei head of engineering.

Among Kneron’s customers are Chinese air conditioning giant Gree and German autonomous driving software provider Teraki, and the new deal is turning the world’s largest electronics manufacturer into a client. As part of the strategic agreement, Kneron will work with Foxconn on the latter’s smart manufacturing and newly introduced open platform for electric vehicles, while its work with Winbond will focus on microcontroller unit (MCU)-based AI and memory computing.

“Low-power AI chips are pretty easy to put into sensors. We all know that in some operation lines, sensors are quite small, so it’s not easy to use a big GPU [graphics processing unit] or CPU [central processing unit], especially when power consumption is a big concern,” said Liu, who held R&D positions at Qualcomm and Samsung before founding Kneron.

Kneron launches its new AI chip to challenge Google and others

Unlike some of its competitors, Kneron designs chips for a wide range of use cases, from manufacturing, smart homes, smartphones, robotics, surveillance and payments, to autonomous driving. It doesn’t just make chips but also the AI software embedded in the chips, a strategy that Liu said differentiates his company from China’s AI darlings like SenseTime and Megvii, which enable AI service through the cloud.

Kneron has also been on a less aggressive funding pace than these companies, which fuel their rapid expansion through outsize financing rounds. Six-year-old SenseTime has raised about $2.6 billion to date, while nine-year-old Megvii has banked about $1.4 billion. Kneron, in comparison, has raised just over $70 million from a Series A round.

Like the Chinese AI upstarts, Kneron is weighing an initial public offering. The company is expected to make a profit in 2023, Liu said, and “that will probably be a good time for us to go IPO.”

Categories: Business News

Google backs India’s Dunzo in $40 million funding round

Startup News - 2021, January 19 - 6:57pm

Google is writing a check to another startup in India. The Android-maker, which last year unveiled a $10 billion fund to invest in the world’s second-largest internet market, said on Tuesday that it is participating in a $40 million investment round of hyperlocal delivery startup Dunzo, a Bangalore-based firm that it has also previously backed.

Five-year-old Dunzo said Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada and Alteria among others participated in its Series E financing round, which brings its to-date raise to $121 million.

Dunzo operates an eponymous hyper-local delivery service in nearly a dozen cities in India, including Bangalore, Delhi, Noida, Pune, Gurgaon, Powai, Hyderabad and Chennai. Users get access to a wide range of items across several categories, from grocery, perishables, pet supplies and medicines to dinner from their neighborhood stores and restaurants.

Google-backed Dunzo raises $45M to expand its hyperlocal delivery startup in India

E-commerce accounts for less than 3% of all retail sales in India, according to industry estimates. Mom and pop stores and other neighborhood outlets that dot tens of thousands of cities, towns, villages and slums across the country drive most of the sales in the nation.

In a way, Dunzo is reimagining how e-commerce and delivery could be done in India, thereby posing a challenge to Amazon and Walmart-owned Flipkart, as well as local food and grocery delivery startups such as Swiggy, Zomato, BigBasket and Grofers. Several people also use Dunzo to pick up and move random items such as a laptop charger or a wallet or a lunch box from one point in the city to another.

“As merchants go digital, Dunzo is helping small businesses in their digital transformation journey in support of business recovery,” said Caesar Sengupta, VP, Google, in a statement. “Through our India Digitization Fund, we’re committed to partnering with India’s innovative startups to build a truly inclusive digital economy that will benefit everyone.”

Kabeer Biswas, chief executive and co-founder of Dunzo, said the startup has grown its annual gross merchandise value business to about $100 million. (GMV used to a popular metric that several e-commerce firms relied on to demonstrate their growth; however, it’s one of the meaningless ways to gauge a startup’s growth. Most firms have stopped using GMV. Additionally, when a startup speaks GMV language, traditionally it has meant they are anything but close to profitability, which happens to be true in the case of Dunzo.)

“Dunzo’s mission resonated stronger than ever in 2020. We have been amazed by everything merchants and users have started to depend on the platform for. We truly believe we are writing a playbook for how hyperlocal businesses can be built with sustainable unit economics and capital responsibility. As a team, we are more focused than ever to enable local Merchants to get closer to their Users and build one of the most loved consumer brands in the country,” Biswas said in a statement.

Google, which invested $4.5 billion in Jio Platforms last year, recently backed social news app DailyHunt and Glance, a part of ad giant InMobi Group that is aggressively expanding ways to populate content on Android users’ lockscreens. Google is also in talks with local social media ShareChat and may alone invest more than $100 million in the Indian startup, TechCrunch reported earlier this month. Talks about Google’s interest in ShareChat has previously also been reported by local media houses Economic Times and ET Now.

Google and Snap in talks to invest in India’s ShareChat

Categories: Business News

Health insurance startup Alan launches free medical app Alan Baby

Startup News - 2021, January 19 - 6:50pm

French startup Alan is generating 100% of its revenue from health insurance products — and that isn’t going to change. But the company wants to start a conversation with a bigger use base. Alan is going to launch multiple mobile apps that let you learn more about health topics, contact a doctor and chat with the community.

“We are proud to announce today that we’re launching free medical apps for everyone,” co-founder and CEO Jean-Charles Samuelian-Werve said in a virtual press conference. “We’re going to develop services for specific groups of people who are facing specific issues or questions.”

And the company is starting with Alan Baby. As you can guess from the name, Alan Baby helps you stay on top of your baby’s health. The company has chosen to focus on that segment as your baby’s health can be a great source of mental stress.

When you first open the app, you get a feed of articles on specific topics, from sleep to nutrition and child development. You can get relevant articles by entering the birthdate of your child as you often don’t have the same questions at day one and day 100.

If you’re concerned about data, Alan says that it doesn’t leverage data for its insurance products — you can optionally enter the age in Alan Baby to customize content but that’s it. Health insurance companies in France don’t have a lot of wiggle room when it comes to data. Companies sign a health insurance contract for their employees. Insurance companies can’t accept or deny someone after that. They can’t set a higher price due to medial history.

While parents usually have 10 pediatrician appointments in the first year, you may have a burning question that cannot wait that long. From Alan Baby, you can start a text discussion with a doctor. The company says users should expect an answer within 24 hours.

Alan had already hired doctors for a similar messaging feature for its users who are covered under the health insurance products. The company is opening up that feature to more users beyond its paid customers.

Finally, people who install Alan Baby can interact with each other in the community section. It works a bit like an online forum on health topics, except that it’s mobile-first and Alan wants to moderate it with some help from its doctors.

“Thanks to what we’re setting up for parents, we will be able to extend it to other topics soon,” Samuelian-Werve said. He names fertility, mental health or diabetes as potential topics for other free apps.

While the apps are going to be free, the company expects to attract new clients for its health insurance thanks to those new apps. Essentially, Alan is broadening the top of its sales funnel with free apps.

Alan Baby is rolling out progressively in France. There’s a waitlist and the iOS app is available to pre-order (for free) in the App Store.

An update on the health insurance products

Back in October, Samuelian-Werve told me that 100,000 were covered through Alan. A few months later, 139,000 people are covered through one Alan insurance product or another. Overall, 8,300 companies have chosen the company as their health insurance provider. Basically, Alan’s user base has more than doubled in 2020.

In France, employees are covered by both the national healthcare system and private insurance companies. So Alan convinces other companies to use its product for its employees. The company has obtained its own health insurance license, which means that it can customize its health insurance products completely depending on the segment and client.

The company is also operating in Spain and Belgium. But it’s been a slow start with 300 members in Spain and 500 members in Belgium. Alan is going to focus on those two markets before launching new countries in the future.

Health insurance startup Alan lets you chat with a doctor

Categories: Business News

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