Hex lands $5.5M seed to help data scientists share data across the company

As companies embrace the use of data, hiring more data scientists, a roadblock persists around sharing that data. It requires too much copying and pasting and manual work. Hex, a new startup, wants to change that by providing a way to dispense data across the company in a streamlined and elegant way.

Today, the company announced a $5.5 million seed investment, and also announced that it’s opening up the product from a limited beta to be more widely available. The round was led by Amplify Partners with help from Box Group, XYZ, Data Community Fund, Operator Collective and a variety of individual investors. The company closed the round last July, but is announcing it for the first time today.

Co-founder and CEO Barry McCardel says that it’s clear that companies are becoming more data-driven and hiring data scientists and analysts at a rapid pace, but there is an issue around data sharing, one that he and his co-founders experienced first-hand when they were working at Palantir.

They decided to develop a purpose-built tool for sharing data with other parts of the organization that are less analytically technical than the data science team working with these data sets. “What we do is we make it very easy for data scientists to connect to their data, analyze and explore it in notebooks. […] And then they can share their work as interactive data apps that anyone else can use,” McCardel explained.

Most data scientists work with their data in online notebooks like Jupyter where they can build SQL queries and enter Python code to organize it, chart it, and so forth. What Hex is doing is creating this super-charged notebook that lets you pull a data set from Snowflake or Amazon Redshift, work with and format the data in an easy way, then drag and drop components from the notebook page — maybe a chart or a data set — and very quickly build a kind of app that you can share with others.

Hex app example with data elements at the top and live graph below it.

Image Credits: Hex

The startup has 9 employees including co-founders McCardel, CTO Caitlin Colgrove and VP of architecture Glen Takahashi. “We’ve really focused on the team front from an early stage, making sure that we’re building a diverse team. And actually today our engineering team is majority female, which is definitely the first time that that’s ever happened to me,” Colgrove said.

She is also part of a small percentage of female founders. A report last year from Silicon Valley Bank, found that while the number was heading in the right direction, only 28% of US startups have at least one female founder. That was up from 22% in 2017.

The company was founded in late 2019 and the founders spent a good part of last year building the product and working with design partners. They have a small set of paying customers, and are looking to expand that starting today. While customers still need to work with the Hex team for now to get going, the plan is to make the product self-serve some time later this year.

Hex’s early customers include Glossier, imgur and Pave.

#amplify-partners, #cloud, #data-science-tools, #enterprise, #funding, #hex, #startups, #tc

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OctoML raises $28M Series B for its machine learning acceleration platform

OctoML, a Seattle-based startup that offers a machine learning acceleration platform build on top of the open-source Apache TVM compiler framework project, today announced that it has raised a $28 million Series B funding round led by Addition Captial. Previous investors Madrona Venture Group and Amplify Partners also participated in this round, which brings the company’s total funding to $47 million. The company last raised in April 2020, when it announced its $15 million Series A round led by Amplify

The promise of OctoML is that developers can bring their models to its platform and the service will automatically optimize that model’s performance for any given cloud or edge device. The founding team created the TVM project, which

As Brazil-born OctoML co-founder and CEO Luis Ceze told me, since raising its Series A round, the company started onboarding some early adopters to its ‘Octomizer’ SaaS platform.

Image Credits: OctoML

“It’s still in early access, but we are we have close to 1,000 early access sign-ups on the waitlist,” Ceze said. “That was a pretty strong signal for us to end up taking this [funding]. The Series B was pre-emptive. We were planning on starting to raise money right about now. We had barely started spending our Series A money — we still had a lot of that left. But since we saw this growth and we had more paying customers than we anticipated, there were a lot of signals like, ‘hey, now we can accelerate the go-to-market machinery, build a customer success team and continue expanding the engineering team to build new features.”

Ceze tells me that the team also saw strong growth signals in the overall community around the TVM project (with about 1,000 people attending its virtual conference last year). As for its customer base (and companies on its waitlist), Ceze says it represents a wide range of verticals that range from defense contractors to financial services and life science companies, automotive firms and startups in a variety of fields.

Recently, OctoML also launched support for the Apple M1 chip — and saw very good performance from that.

The company has also formed partnerships with industry heavyweights like Microsoft (which is also a customer), Qualcomm, AMD and Sony to build out the open-source components and optimize its service for an even wider range of models (and larger ones, too).

On the engineering side, Ceze tells me that the team is looking at not just optimizing and tuning models but also the training process. Training ML models can quickly become costly and any service that can speed up that process leads to direct savings for its users — which in turn makes OctoML an easier sell. The plan here, Ceze tells me, is to offer an end-to-end solution where people can optimize their ML training and the resulting models and then push their models out to their preferred platform. Right now, its users still have to take the artifact that the Octomizer creates and deploy that themselves, but deployment support is on OctoML’s roadmap.

“When we first met Luis and the OctoML team, we knew they were poised to transform the way ML teams deploy their machine learning models,” said Lee Fixel, founder of Addition. “They have the vision, the talent and the technology to drive ML transformation across every major enterprise. They launched Octomizer six months ago and it’s already becoming the go-to solution developers and data scientists use to maximize ML model performance. We look forward to supporting the company’s continued growth.”

#amd, #amplify, #amplify-partners, #artificial-intelligence, #brazil, #developer, #enterprise, #lee-fixel, #machine-learning, #madrona-venture-group, #microsoft, #ml, #octoml, #qualcomm, #recent-funding, #seattle, #series-a, #sony, #startups, #venture-capital

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Serenade snags $2.1M seed round to turn speech into code

Several years ago Serenade co-founder Matt Wiethoff was a developer at Quora when he was diagnosed with a severe repetitive stress injury to his hand and couldn’t code. He and co-founder Tommy MacWilliam decided to use AI to create a tool that let him speak the code instead and Serenade was born.

Today, the company announced a $2.1 million seed investment led by Amplify Partners and Neo. While it was at it, the startup also announced the first commercial version of the product, Serenade Pro.

“Serenade is an app that you’ll download onto your computer. It will plug into your existing editors like Visual Studio Code or IntelliJ, and then allows you to speak your code,” co-founder MacWilliam told me. At that point the startup’s AI engine takes over and translates what you say into syntactically correct code.

He says that while there are a bunch of generalized speech-to-text engines out there, they hadn’t been able to find anything that was tuned specifically for the requirements of someone entering code. While it may seem that this would have a pretty narrow market focus, the co-founders see this use case as simply a starting point with developers using this kind of technology even when not injured.

“Our vision is that this is just the future of programming. With machine learning, coding becomes faster and easier than ever before, and our AI eliminates a lot of the rote mechanical parts of programming. So rather than needing to remember keyboard shortcuts or syntax details of a language, you can just focus on expressing your idea naturally, and then our machine learning takes care of translating that into actual code for you,” MacWilliam explained.

The startup has five employees today, but has plans to build the company to 15-20 in the next year fueled by the introduction of the commercial product and the new funding. As they build the company, MacWilliam says being diverse is a big part of that.

“Our diversity strategy ranges throughout the process. I think it starts at the top of the funnel. We need to make sure that we’re going out and reaching great people — there are great people everywhere and it’s on us to find them and convince them why working at Serenade would be great,” he said. They are working with a variety of sources to find a diverse group of candidates that stretches beyond their own personal network, then looking at how they interview and judge candidates’ skill sets with the goal of building a more diverse employee base.

The company sees itself as a way to move beyond the keyboard to speaking your code, and it intends to use this money to continue building the product, while building a community of dedicated users. “We’ll be thinking about how we can showcase the value of coding by voice, how we can put together demos and build a community of product champions showing that [it’s faster to code using your voice],” he said.

#amplify-partners, #artificial-intelligence, #cloud, #developer, #developer-tools, #funding, #machine-learning, #serenade, #speech-to-text, #startups

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Fishtown Analytics raises $29.5M Series B for its data engineering platform

Fishtown Analytics, the Philadelphia-based company behind the dbt open-source data engineering tool, today announced that it has raised a $29.5 million Series B round led by Sequoia Captial, with participation from previous investors Andreessen Horowitz and Amplify Partners.

The company is building a platform that allows data analysts to more easily create and disseminate organizational knowledge. Its focus is on data modeling, with its dbt tool allowing anybody who knows SQL to build data transformation workflows. Dbt also features support for automatically testing data quality and documenting changes, but maybe most importantly, it uses standard software engineering techniques to help engineers collaborate on code and integrate changes continuously.

If this all sounds a bit familiar, it’s probably because you saw that Fishtown Analytics also announced a $12.9 million Series A round in April. It’s not often we see both a Series A and B round within half a year, but that goes to show how the market for Fishtown’s service is expanding as companies continue to grapple with how to best make use of their data — and how much investors want to be part of that. 

Image Credits: Fishtown

“This was a very productive thing for us,” Fishtown Analytics co-founder and CEO Tristan Handy told me when I asked him why he raised again so quickly. “It’s standard best practice to do quarterly catch-ups with investors and eventually you’ll be ready to fundraise. And Matt Miller from Sequoia showed up to one of these quarterly catch-ups and he shared the 40-page memo that he had written to the Sequoia partnership — and he came with the term sheet.”

Initially, Handy declined. “We’re very bullheaded people, I think, as many founders are. It took some real reflection and thinking about, ‘is this what we want to be doing right now?’”

In the end, though, the team decided to go ahead with this round — mostly because this round allowed the team to think long-term and provided stability and certainty.

One thing Handy has always been very clear about is that he did not found Fishtown to purely build the largest possible company but to solve its users’ problems, even as the market looked at companies like Databricks and Snowflake — and their financial success — as potential analogs. “My worry was that the financial markets were driving things that weren’t necessarily going to be good for our users,” Handy said.

#amplify-partners, #andreessen-horowitz, #california, #cloud, #enterprise, #philadelphia, #recent-funding, #startups, #within

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Sym raises $9M Series A for its security workflow platform

Sym, a new platform that makes it easier for developers to integrate security and privacy workflows into their process, today announced that it has raised a $9 million Series A round led by Amplify Partners. Earlier this year, the company announced its $3 million seed round lead by Andy McLoughlin of Uncork Capital and Robin Vasan of Mango Capital. Angel investors include former Google CISO Gerhard Eschelbeck, Atlassian CTO Sri Viswanath and Jason Warner, the CTO of GitHub.

Sym co-founder Yasyf Mohamedali spent the last few years as CTO of health tech company Karuna Health. In that role, he became intimately familiar with working in a high-compliance industry, handling vendor reviews and security audits. To make those processes more efficient, his team built lots of small tools, but he realized that everybody else in the industry was doing the same.

Image Credits: Sym

“As an engineer, it’s frustrating when you see people building the same thing over and over,” Mohamedali told me. “For years, I had this kind of concept in my head of, ‘what if we just built it all once, and then people didn’t have to keep redoing the same thing over and over?’ And so when I stepped away from Karuna to start Sym, originally, what I wanted to do was exactly that — and specifically for HIPAA. It’s kind of a naïve approach where I was like, ‘you know, what, I’m just going to build all the tools, someone needs to do HIPAA and open source it as like a black box thing.”

What he realized, though, is that companies have their own security and governance workflows that tend to share the same core but also a lot of variabilities. So what Sym now does is offer these core tools and lets companies mix and match what they need from this developer-centric toolbox the company has created.

“What we’re building is a set of workflow templates and primitives that map to that shared 20% core — and then a set of integrations that you can use to pull down those workflow templates, and codify that last mile variance by connecting those templates to all your different services,” Mohamedali explained.

What’s interesting about this approach is that Sym offers a Python SDK and lets developers create these workflows and integrations with only a few lines of code. In part, that’s due to the company’s philosophy of putting engineers back into control of security — the same way DevOps allowed them to reclaim control over infrastructure and Q&A. “DevOps is a thing. So now, DevSecOps needs to be a thing. We need to reclaim security. And we want to be the tool to do that with,” he said.

Mohamedali stressed that this was very much an opportunistic round, and for the next few months this raise won’t change anything in the company’s road map. But because Sym started signing up large customers — and had made commitments to them — now was a good time to raise, especially because the right partners came along. That means hiring more engineers, but over time, the company obviously also plans to build out its sales and marketing teams. The product itself, though, will remain in private beta until about the middle of next year. At that time, Sym will also launch a self-serve version of its platform.

#amplify-partners, #cloud, #developer, #recent-funding, #startups, #sym, #tc

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Temporal raises $18.75M for its microservices orchestration platform

Temporal, a Seattle-based startup that is building an open-source, stateful microservices orchestration platform, today announced that it has raised an $18.75 million Series A round led by Sequoia Ventures. Existing investors Addition Ventures and Amplify Partners also joined, together with new investor Madrona Venture Group. With this, the company has now raised a total of $25.5 million.

Founded by Maxim Fateev (CEO) and Samar Abbas (CTO), who created the open-source Cadence orchestration engine during their time at Uber, Temporal aims to make it easier for developers and operators to run microservices in production. Current users include the likes of Box and Snap.

“Before microservices, coding applications was much simpler,” Temporal’s Fateev told me. “Resources were always located in the same place — the monolith server with a single DB — which meant developers didn’t have to codify a bunch of guessing about where things were. Microservices, on the other hand, are highly distributed, which means developers need to coordinate changes across a number of servers in different physical locations.”

Those servers could go down at any time, so engineers often spend a lot of time building custom reliability code to make calls to these services. As Fateev argues, that’s table stakes and doesn’t help these developers create something that builds real business value. Temporal gives these developers access to a set of what the team calls ‘reliability primitives’ that handle these use cases. “This means developers spend far more time writing differentiated code for their business and end up with a more reliable application than they could have built themselves,” said Fateev.

Temporal’s target use is virtually any developer who works with microservices — and wants them to be reliable. Because of this, the company’s tool — despite offering a read-only web-based user interface for administering and monitoring the system — isn’t the main focus here. The company also doesn’t have any plans to create a no-code/low-code workflow builder, Fateev tells me. However, since it is open-source, quite a few Temporal users build their own solutions on top of it.

The company itself plans to offer a cloud-based Temporal-as-a-Service offering soon. Interestingly, Fateev tells me that the team isn’t looking at offering enterprise support or licensing in the near future, though. “After spending a lot of time thinking it over, we decided a hosted offering was best for the open-source community and long term growth of the business,” he said.

Unsurprisingly, the company plans to use the new funding to improve its existing tool and build out this cloud service, with plans to launch it into general availability next year. At the same time, the team plans to say true to its open-source roots and host events and provide more resources to its community.

“Temporal enables Snapchat to focus on building the business logic of a robust asynchronous API system without requiring a complex state management infrastructure,” said Steven Sun, Snap Tech Lead, Staff Software Engineer. “This has improved the efficiency of launching our services for the Snapchat community.”

#amplify-partners, #ceo, #cloud-computing, #cloud-infrastructure, #cto, #developer, #enterprise, #madrona-venture-group, #microservices, #seattle, #snap, #snap-inc, #snapchat, #uber

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PicnicHealth raises $25 million for its patient health record management service

PicnicHealth, the startup that’s looking to give patients a way to manage their care in one place and pharmaceutical companies access to patient records for real world data, has just raised $25 million in financing to grow its business.

Founded in 2016 by a former international development worker and Crohn’s Disease patient, Noga Leviner, PicnicHealth’s initial pitch was around giving patients the ability to manage and coordinate their own care. It’s something that Leviner, a person with a chronic condition, knows can be complicated.

“Being a patient in the healthcare system in the US sucks,” said Leviner. “You think someone is going to be in charge and then, as it turns out, nobody’s in charge and it’s up to you to keep everybody in the loop.”

The pitch from PicnicHealth is that patients can use the service to collect and manage their medical records and then share their medical history to contribute to research. The data, the company says, is de-identified and then made available to external researchers.

The service is free for patients who are involved in clinical studies, and anyone who isn’t participating in the study pays a fee for the records management service, according to Leviner.

So far, there are tens of thousands of patients using the PicnicHealth platform.

For Felicis Ventures managing director Sundeep Peechu, a new director on the PicnicHealth board following his firm’s lead investment into the company, the opportunity Leviner’s company presents is in putting the patient first when it comes to data management.

“It is probably the first patient data company that has patient consent,” Peechu said. “This is a unique healthcare data company, which is going to the patients and asking for their consent and using that data in an advantageous way.”

Other companies in the data management space for healthcare have focused on making sure that healthcare providers are all looped in to provide coordinated care, but they don’t bring those tools into patient’s hands, according to the company.

Those are businesses like TrueVault and Aptible, who focus on delivering secure information to medical personnel rather than to the patient.

The access that pharmaceutical companies get when they work with PicnicHealth means that they’re able to use deep data sets to create longitudinal studies of patients over time. That allows those companies to look for commonalities between patient cases that they otherwise wouldn’t have seen.

For patients, it means the difference between a potential early diagnosis that may enable physicians to initiate treatment before a disease manifests itself, Peechu said.

To date, PicnicHealth has raised nearly $40 million from investors including YCombinator, Amplify Partners and Felicis Ventures with participation from notable investors in a seed round that included: Social+Captial, Great Oaks, Slow Ventures, YC partner Paul Buchheit, Scott Marlette, Sam Lessin, Joe Greenstein, Rashmi Sinha, Jameson Hsu, Kenny Van Zant, Rishi Kacker, Ramji Srinivasan, Eric Evans and Stanford’s StartX Fund.

#amplify-partners, #articles, #director, #disease, #felicis-ventures, #health, #healthcare, #healthcare-data, #paul-buchheit, #pharmaceutical, #picnichealth, #sam-lessin, #scott-marlette, #slow-ventures, #tc, #united-states

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#DealMonitor – Prisma bekommt 12 Millionen – Acton investiert Millionen in Laserhub


Im aktuellen #DealMonitor für den 8. November werfen wir wieder einen Blick auf die wichtigsten, spannendsten und interessantesten Investments und Exits des Tages. Alle Deals der Vortage gibt es im großen und übersichtlichen #DealMonitor-Archiv.

INVESTMENTS

Prisma
+++ Amplify Partners investiert 12 Millionen US-Dollar in Prisma. “We are especially excited about this partnership as Amplify is an experienced investor in the developer tooling ecosystem”, teilt das Startups  – früher als Graphcool bekannt – mit. Zuvor investierten Kleiner Perkins, System.One und Co. bereits 4,5 Millionen in die 2016 gegründet Firma, die in Berlin und San Francisco sitzt. Prisma wwurde von Johannes Schickling und Søren Bramer Schmidt gegründet. Prisma positioniert sich als “GraphQL API- Layer für Datenbanken.

Laserhub
+++ Acton Capital investiert gemeinsam mit Project A und Point Nine Capital in die Bauteileplattform Laserhub. Die Höhe des Investments ist nicht bekannt. Aus dem Umfeld der Investoren ist von einer “höheren einstelligen Millionensumme” zu hören Das 2017 gegründete Startup aus Stuttgart betreibt eine “Beschaffungsplattform für individuelle Blechteile”. Project A und Point Nine investierten zuvor bereits einen siebenstelligen Betrag in das Unternehmen, das von Adrian Raidt, Christoph Rößner und Jonas Schweizer gegründet wurde.

objego
+++ Die Aareal Bank investiert in objego aus Essen. Das Startup, eine Ausgründung des Energiedienstleisters ista, kümmert sich um Nebenkostenabrechnungen. “Die Software des jungen PropTechs unterstützt nicht nur bei der richtigen Umlage Ihrer Kosten, sondern erstellt auch die Kostenübersicht und die Anschreiben für Mieter”, teilen die Gründer Jörn Reckeweg und Philip Rodowski mit.

EXITS

momox
+++ Verdane Capital übernimmt die Anteile von Acton Capital am Re-Commerce-Giganten momox. “Alle weiteren Anteilseigner, einschließlich des momox CEOs Heiner Kroke, bleiben weiterhin als Gesellschafter beteiligt”, teilt der Kapitalgeber mit.  Verdane Capital stieg im Herbst 2018 bei momox ein, das zuletzt einen Umsatz in Höhe von 250 Millionen Euro erwirtschaftete. Nach der Übernahme der Acton-Anteile hält Verdane nun 85 % an momox. Für das Grownup arbeiteten zuletzt 1.900 ­Mitarbeiter.

Achtung! Wir freuen uns über Tipps, Infos und Hinweise, was wir in unserem #DealMonitor alles so aufgreifen sollten. Schreibt uns eure Vorschläge entweder ganz klassisch per E-Mail oder nutzt unsere “Stille Post“, unseren Briefkasten für Insider-Infos.

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#acton-capital, #aktuell, #amplify-partners, #b2b, #essen, #industrialtech, #kleiner-perkins, #laserhub, #momox-de, #objego, #point-nine-capital, #prisma, #project-a, #ruhrgebiet, #stuttgart, #system-one, #venture-capital

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