Census raises $16M Series A to help companies put their data warehouses to work

Census, a startup that helps businesses sync their customer data from their data warehouses to their various business tools like Salesforce and Marketo, today announced that it has raised a $16 million Series A round led by Sequoia Capital. Other participants in this round include Andreessen Horowitz, which led the company’s $4.3 million seed round last year, as well as several notable angles, including Figma CEO Dylan Field, GitHub CTO Jason Warner, Notion COO Akshay Kothari and Rippling CEO Parker Conrad.

The company is part of a new crop of startups that are building on top of data warehouses. The general idea behind Census is to help businesses operationalize the data in their data warehouses, which was traditionally only used for analytics and reporting use cases. But as businesses realized that all the data they needed was already available in their data warehouses and that they could use that as a single source of truth without having to build additional integrations, an ecosystem of companies that operationalize this data started to form.

The company argues that the modern data stack, with data warehouses like Amazon Redshift, Google BigQuery and Snowflake at its core, offers all of the tools a business needs to extract and transform data (like Fivetran, dbt) and then visualize it (think Looker).

Tools like Census then essentially function as a new layer that sits between the data warehouse and the business tools that can help companies extract value from this data. With that, users can easily sync their product data into a marketing tool like Marketo or a CRM service like Salesforce, for example.

Image Credits: Census

Three years ago, we were the first to ask, ‘Why are we relying on a clumsy tangle of wires connecting every app when everything we need is already in the warehouse? What if you could leverage your data team to drive operations?’ When the data warehouse is connected to the rest of the business, the possibilities are limitless.” Census explains in today’s announcement. “When we launched, our focus was enabling product-led companies like Figma, Canva, and Notion to drive better marketing, sales, and customer success. Along the way, our customers have pulled Census into more and more scenarios, like auto-prioritizing support tickets in Zendesk, automating invoices in Netsuite, or even integrating with HR systems.

Census already integrates with dozens of different services and data tools and its customers include the likes of Clearbit, Figma, Fivetran, LogDNA, Loom and Notion.

Looking ahead, Census plans to use the new funding to launch new features like deeper data validation and a visual query experience. In addition, it also plans to launch code-based orchestration to make Census workflows versionable and make it easier to integrate them into enterprise orchestration system.

#andreessen-horowitz, #business-intelligence, #canva, #ceo, #clearbit, #computing, #crm, #cto, #data-management, #data-warehouse, #dylan-field, #enterprise, #figma, #fivetran, #github, #google, #information, #information-technology, #logdna, #looker, #loom, #marketo, #netsuite, #notion, #parker-conrad, #recent-funding, #salesforce, #sequoia-capital, #startups, #tc, #warehouse, #zendesk

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Proptech startup Knock secures $20M to grow SaaS platform for property managers

In recent years, the U.S. has seen more renters than at any point since at least 1965, according to a Pew Research Center analysis of Census Bureau housing data. 

Competition for renters is fierce and property managers are turning to technology to get a leg up.

To meet that demand, Seattle-based Knock – one startup that has developed tools to give property management companies a competitive edge – has raised $20 million in a growth funding round led by Fifth Wall Ventures.

Existing backers Madrona Venture Group, Lead Edge Capital, Second Avenue Partners and Seven Peaks Ventures also participated in the financing, which brings the company’s total capital raised to $47 million.

Demetri Themelis and Tom Petry co-founded Knock in 2014 after renting “in super competitive markets” such as New York City, San Francisco and Seattle. 

“After meeting with property management companies, it was eye-opening to learn about the total gap across their tech stacks,” Themelis recalled.

Knock’s goal is to provide CRM tools to modernize front office operations for these companies so they can do things like offer virtual tours and communicate with renters via text, email or social media from “a single conversation screen.” For renters, it offers an easier way to communicate and engage with landlords. 

“Apartment buildings, like almost every customer-driven business, compete with each other by attracting, converting and retaining customers,” Themelis said. “For property management companies, these customers are renters.”

The startup — which operates as a SaaS business — has seen an uptick in growth, quadrupling its revenue over the past two years. Its software is used by hundreds of the largest property management companies across the United States and Canada and has more than 1.5 million apartment units using the platform. Starwood Capital Group, ZRS, FPI and Cushman & Wakefield (formerly Pinnacle) are among its users.

As Petry explains it, Knock serves as the sales inbox (chat, SMS, phone, email), sales calendar and CRM systems, all in one. 

“We also automate certain sales tasks like outreach and appointment scheduling, while also surfacing which sales opportunities need the most attention at any given time, for both new leases as well as renewals,” he said.

Image Credit: Knock

The company, Themelis said, was well-prepared for the impact of the COVID-19 pandemic.

“Our software supports property management companies, which operate high-density apartment buildings that people live and work in,” he told TechCrunch. “You can’t just ‘shut them down,’ which has made multifamily resilient and even grow in comparison to retail and industrial real estate.”

For example, when lockdowns went into effect, in-person property tours declined by an estimated 80% in a matter of weeks.

Knock did things like help property managers transition to a centralized and remote leasing model so remote agents could work across a large portfolio of properties rather than in a single on-site leasing office, noted Petry.

It also helped them adopt self-guided, virtual and live video-based leasing tools, so prospective renters could tour properties in person on their own or virtually.

“This transformation and modernization became a huge tailwind for our business in 2020,” Petry said. “Not only did we have a record year in terms of new customers, revenue growth and revenue retention, but our customers outperformed market averages for occupancy and rent growth as well.”

Looking ahead, the company says it will be using its new capital to (naturally!) hire across product, engineering, sales, marketing, customer success, finance and human resources divisions. It expects to grow headcount by 40% to 50% before year-end. It also plans to expand its product portfolio to include AI communications, fraud prevention, applicant screening and leasing, and intelligent forecasting. 

Fifth Wall partner Vik Chawla, who is joining Knock’s board of directors, pointed out that the macroeconomic environment is driving institutional capital into multifamily real estate at an accelerated pace. This makes Knock’s offering even more timely in its importance, in the firm’s view.

The startup, he believes, outshines its competitors in terms of quality of product, technical prowess and functionality.

“The Knock team has accomplished so much in just a short period of time by attracting very high quality product design and engineering talent to ameliorate a nuanced pain point in the tenant acquisition process,” Chawla told TechCrunch.

In terms of fitting with its investment thesis, Chawla said companies like Knock can both benefit from Fifth Wall’s global corporate strategic partners “and simultaneously serve as a key offering which we can share with real estate industry leaders in different countries as a potential solution for their local markets.”

#crm, #cushman-wakefield, #customer-relationship-management, #fifth-wall-ventures, #funding, #knock, #lead-edge-capital, #madrona-venture-group, #pew-research-center, #property-management, #proptech, #real-estate, #recent-funding, #saas, #seattle, #second-avenue-partners, #sms, #startups, #tc

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Cannabis marketing startup Fyllo acquires DataOwl

Fyllo has acquired DataOwl, a company offering marketing and loyalty tools for cannabis retailers.

Fyllo said it already works with 320 cannabis retailers across 25 states (plus Puerto Rico and Jamaica). According to Chief Marketing Officer Conrad Lisco, this acquisition allows the company to offer the industry’s “first end-to-end marketing solution,” combining consumer data, digital advertising, regulatory compliance (thanks to Fyllo’s acquisition of CannaRegs last year) and, through DataOwl, CRM and loyalty tied into a business’ point-of-sale system.

As an example, founder and CEO Chad Bronstein (previously the chief revenue officer at digital marketing company Amobee) said that retailers will be able to use the Fyllo platform to send promotional texts to regular customers while, crucially, ensuring that those campaigns are fully in compliance with state and local regulations. He added that eventually, the platform could be used beyond cannabis, in other regulated industries.

“Beauty, gambling, etc. — the same things need to happen in every regulated industry, they would all benefit from loyalty and compliance automation,” Bronstein said.

In addition, he argued that mainstream brands are increasingly interested in using data around cannabis and CBD consumers, as borne out in a Forrester study commissioned by Fyllo.

Lisco said this acquisition comes at a crucial time for the cannabis industry, with dispensaries classified as essential businesses in many states, as well as continuing momentum behind marijuana legalization.

“In 2020, cannabis came of age,” he said. “We would say it went form illicit to essential in 10 months … 2021 is really about watching endemic [marijuana] brands try to scale, so that they can capitalize on the explosive growth. They’ve historically been excluded from the kinds of integrated marketing capabilities that other non-endemic [mainstream] brands get to use when go to market.”

Bronstein said Fyllo aims to bring those capabilities to marijuana brands, first by bringing the its compliance capabilities into the DataOwl product. The company also aims to create a national cannabis loyalty platform, allowing a marijuana retailer in one state to easily expand its marketing capabilities into other states in a compliant fashion.

The financial terms of the acquisition were not disclosed. DataOwl co-founders Dan Hirsch and Vartan Arabyan are joining Fyllo, as is the rest of their team, bringing the company’s total headcount to 110.

“By integrating with Fyllo, DataOwl’s solutions will reach the widest possible audience via the industry’s most innovative marketing platform,” Hirsch said in a statement.

#advertising-tech, #cannaregs, #crm, #dataowl, #digital-advertising, #fundings-exits, #fyllo, #startups

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With Hyperforce, Salesforce lets you move your data to any public cloud

For much of its existence, Salesforce was a cloud service on its own with its own cloud resources available for its customers, but as the company and cloud computing in general has evolved, Salesforce has moved some of its workloads to other clouds like AWS, Azure and Google. Now, it wants to allow customers to do the same.

To help facilitate that, the company announced Hyperforce today at its Dreamforce customer conference, a new architecture designed from the ground up to help customers deliver workloads to the public cloud of choice.

The idea behind Hyperforce is to enable customers to take all of the data in what Salesforce calls Customer 360 — that’s the company’s detailed view of the customer across channels, Salesforce products and even other systems outside the Salesforce family — and be able to store that in whichever public cloud you want in whatever region you happen to operate. For now, they are in India and Germany, but there are plans to add support for 10 additional countries over the next year.

Company president and CTO Bret Taylor introduced the new approach. “We call this new capability Hyperforce. Simply put, we’ve been working to enable us to deliver Salesforce on public cloud infrastructure all around the world,” Taylor said.

Holger Mueller, an analyst at Constellation Research, says the underlying architecture running the Salesforce system is long overdue for an overhaul. At over 20 years old, it’s been around a long time now, but Mueller says that it’s about more than modernizing. “The pandemic requires SaaS vendors to move their offerings from their own data centers to [public cloud] data centers, so they can offer both architectural and commercial elasticity to their customers,” he said.

Mueller added that by bringing Salesforce data into the public cloud, besides the obvious data sovereignty issues it solves, it bring all of the advantages of using public cloud resources.

“Salesforce can now offer both architectural and commercial elasticity to their customers. Commercial elasticity matters a lot to CIOs and CTOs these days because when your business slows down, you pay less, and when your business accelerates, then you can afford to pay more,” he said. He says that Salesforce is bringing an early generation SaaS product and pulling it into the modern age, something that is imperative at this point in the company’s evolution.

But while moving forward, Taylor was careful to point out that they rebuilt the system in such a way as to be fully backwards compatible, so you don’t have to throw out all of the applications and investment you’ve made over the years, something that most companies couldn’t afford to do.”For you developers out there, This is the most remarkable thing. It is 100% backwards compatible, your apps will work with no changes and you can benefit from all of this automatically,” he said.

The company will be rolling out Hyperforce over the next year and beyond as it opens in more regions.

#bret-taylor, #cloud, #crm, #data-sovereignty, #developer, #dreamforce-2020, #enterprise, #saas, #salesforce, #tc

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Floww raises $6.7M for its data-driven marketplace matching founders with investors, based on merit

Floww – a data-driven marketplace designed to allow founders to pitch investors, with the whole investment relationship managed online – says it has raised $6.7M / £5M to date in Seed funding from angels and family offices. Investors include Ramon Mendes De Leon, Duncan Simpson Craib, Angus Davidson, Stephane Delacote and Pip Baker (Google’s Head of Fintech UK) and multiple Family Offices. The cash will be used to build out the platform designed to give startups access to over 500+ VCs, accelerators and angel networks.

The team consists of Martijn De Wever, founder and CEO of London based VC Force Over Mass; Lee Fasciani, cofounder of Territory Projects (the firm behind film graphics and design including Guardians of the Galaxy and BladeRunner 2049); and CTO Alex Pilsworth, of various Fintech startups.

Having made over 160 investments himself, De Wever says he recognized the need for a platform connecting investors and startups based on merit, clean data, and transparency, rather than a system built on “warm introductions” which can have inherent cultural and even racial biases.

Floww’s idea is that it showcases startups based on merit only, allowing founders to raise capital by providing investors with data and transparency. Startups are given a suite of tools and materials to get started, from cap table templates to ‘How To’ guides. Founders can then ‘drag and drop’ their investor documents in any format. Floww’s team of accountants then cross-checks the data for errors and process key performance metrics. A startup’s digital profile includes dynamic charts and tables, allowing prospective investors to see the company’s business potential.

Floww charges a monthly fee to VCs, accelerators, family offices and PE firms. Startups have free access to the platform, and a premium model to contact and send their deal to multiple VCs.

Floww’s pitch is that VCs can, in turn, manage deal-sourcing, CRM, as well as reporting to their investors and LPs. Quite a claim, given all VCs to-date handle this kind of thing in-house. However, Floww claims to have processed 3,000 startups and says it is rolling out to over 500 VC’s.

In a statement, De Wever said: “In an age of virtual meetings and connections, the need for coffee meetings on Sand Hill Road or Mayfair is gone. What we need now are global connections, allowing VCs to engage in merit-based investing using data and metrics.” He says the era of the Coronavirus pandemic means many deals will have to be sourced remotely now, so “the time for a platform like this is now.”

AngelList is perhaps its closest competitor from the startup perspective. And the VC application incorporates the kind of functionality seen in Affinity, Airtable, Efront and Docsend. But AngeList doesn’t provide data or metrics.

#angellist, #business, #ceo, #cofounder, #companies, #crm, #cto, #entrepreneurship, #europe, #head, #london, #martijn-de-wever, #massachusetts, #private-equity, #startup-company, #tc

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Marissa Mayer’s startup launches its first official product, Sunshine Contacts

Former Yahoo CEO and early Google employee Marissa Mayer’s startup Lumi Labs is today rebranding to Sunshine and releasing its first official product. Its new app, Sunshine Contacts, aims to be a better tool for organizing, updating and sharing contact information with others. In time, the company envisions a portfolio of consumer-facing applications that simplify common tasks in areas like events, organization, family sharing, scheduling and more.

Founded in 2018 by Mayer and fellow Yahoo and Google vet Enrique Muñoz Torres, Lumi Labs has been focused on using sophisticated technologies, like A.I., to improve the common applications people use every day.

Or, as Mayer puts it, “if technology can drive a car, how come it can’t just organize my contacts, make scheduling easier or do some things that seem a lot more straightforward?” She says the goal with Lumi Labs — or now Sunshine, as it’s called — is to make those everyday apps better and more frictionless.

The company last year released a small experiment that hinted at what was to come with Holiday Helper, a desktop app that helped users more easily put together their holiday mailing list.

That product was not fully fleshed out, however, and Mayer today characterizes it as more of an exercise or a warm up for the Sunshine team.

Image Credits: Sunshine

With the launch of Sunshine Contacts, the company is moving closer towards its goal of using modern technologies to improve mundane tasks.

The new app, at first glance, seems not unlike those introduced in years past with the similar goal of better organizing and updating a user’s contacts, like Mingle, Vignette, Humin, FullContact, Bump, CardFlick, Hashable, My Name is E, CardMunch, Brewster, or any of dozens of startups that once aimed to kill the business card or auto-update your address book.

While most of those early efforts are no more, alternative apps like Cardhop from Flexibits, for example, are still able to attract a loyal user base looking for an expanded feature and more improvements over built-in solutions, like Apple or Google’s own address books, for instance.

Sunshine Contacts’ approach to the market, meanwhile, isn’t just to attract users interested in improved functionality, but to eventually offer a suite of consumer services under the Sunshine brand.

Image Credits: Sunshine

The app itself seems a little underwhelming in terms of its design, a callback perhaps to the Google aesthetic of things that work, but aren’t very pretty.

Sunshine Contacts works by pulling in data, with permission, from your iPhone contacts and from Google Contacts. In then tries to expand upon the basic information these imports offer by identifying your contact’s place of business, if not available, finding their LinkedIn profile, autocompleting missing information, looking up addresses, adding profile pictures, analyzing phone numbers to label them as work or cell, for example, and more. The app can also help to deduplicate address with merges.

Image Credits: Sunshine

If you additionally give Sunshine Contacts access to your Gmail, it can scan the email signature lines in your inbox to further complete the address fields.

This, of course, isn’t a new concept. FullContact did this in years past, as did smaller startups. Services like Evercontact or SigParser offer similar solutions today. Meanwhile, apps like Rapportive popularized the idea of pulling in external data found on the web to present a more detailed view of your email contacts. (The founder has since moved on to expand upon that original concept with Superhuman, a full email client with tons of other bells and whistles.)

When reaching out to a contact, Sunshine Contacts works a little like a personal CRM, by offering you useful context about your relationship, including your most recent email correspondence. You can also share your contact information easily with other Sunshine users by way of its proximity detection data, but this would only be useful if the app got critical mass.

Image Credits: Sunshine

Given that Sunshine Contact’s feature set is not exactly breaking new ground, Sunshine Contacts will need to try to impress on how well it’s able to perform the tasks at hand.

“I think that the artificial intelligence that we’ve deployed in the app really comes through when you look at the quality,” explains Mayer. For example, she says, other apps’ approach to deduplicating contacts is often fairly basic — only recognizing that there were two “Adam Smiths,” but not digging into the details to realize they were different people.

“They don’t take a confidence interval and signal and evidence-based approach,” Mayer says. “So I think you’ll see the A.I. in the in the quality of the merges, the quality of things like name completion, and nickname identification. We’ve done a bunch of things that I think are quite smart and are better than some of the other things that we’ve seen. I also think that our integration with location is particularly innovative,” she adds.

That is, Sunshine Contacts can access a user’s location — again, with permission — to make further inferences about who a user is spending time with more frequently or to make exchanging contacts between two Sunshine Contacts users easier when they’re meeting in person.

Image Credits: Sunshine

But with all the app’s requests for user data — address books, email integration, location data — Sunshine has an uphill battle in terms of gaining user trust after years of being burned by tech companies that promised conveniences only to gather large data stores of personal data for more nefarious purposes than just making life easier.

To address this issue, Sunshine is offering a privacy pledge where it commits to data security practices and promises to never sell user data.

“We take a very strong stance that this data is not and will never be for sale in any shape or form, says Torres. “So, you’re giving us the data for the purpose of making your product experience essentially better and that is the only purpose that we’re going to be using it for,” he continues. “We don’t sell it in aggregate form and individual forum we don’t target advertising based on it. In fact we don’t have any advertising as part of the app,” Torres notes.

Users can also opt in only to the features they want to use. If they don’t want to share location, for instance, they can simply deny the permission.

Instead, Sunshine’s business model will be a direct-to-consumer freemium model, though for now the Sunshine Contacts app is fully free. As the company rolls out additional offerings in the suite, it will opt to monetize each app in the way that’s most suitable — for instance, by making some basic functionality free, then offering paid upgrades to a larger set of features.

The startup raised a $20M seed round in May 2020 from inside and outside investors, including Felicis Ventures, Unusual Ventures, WIN Ventures, as well as numerous angel investors.

The app is launching first on iOS (iOS 11 or higher) on an invite-only basis in the U.S. A web version will later follow as will support for international markets.

#apps, #artificial-intelligence, #contacts, #crm, #gmail, #google, #ios-apps, #lumi-labs, #marissa-mayer, #mobile, #mobile-app, #startups, #sunshine, #yahoo

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B2B marketplaces will be the next billion-dollar e-commerce startups

Startups involved in B2B e-commerce such as Faire and Mirakl have burst out of the gates in 2020. Almost overnight, these startups transformed into consequential platforms, earning billion-dollar valuations along the way. The B2B e-commerce industry has broad reach, encompassing everything from commerce infrastructure and payments technology to procurement and supply-chain solutions. But one area of the B2B e-commerce sector holds outsized promise: marketplaces.

These venues for buyers and sellers of business-related products are exploding in popularity, fueled by better infrastructure, payments and security on the back-end and companies’ increased need to conduct business online during the pandemic.

Even before the pandemic, B2B marketplaces were expected to generate $3.6 trillion in sales by 2024, up from an estimated $680 billion in 2018, according to payments research firm iBe TSD. They were already growing more quickly than most B2C marketplaces that predated them, and when COVID shutdowns hit, many companies scrambled to shift all purchasing online. A survey of business buyers conducted by Digital Commerce 360 found that 20% of purchasing managers spent more on marketplaces, and 22% spent significantly more, during the pandemic.

For many entrepreneurs running B2B marketplaces, the pandemic created new demand for their platforms. Yet to convince businesses to make a permanent shift to online purchasing, B2B marketplaces cannot simply remain stagnant, serving as simple transactional platforms. Those that innovate now to introduce adjacent services will emerge as winners in the next few years, with some inevitably becoming billion-dollar companies.

As a venture capital investor in B2B e-commerce companies, I’m carefully watching the industry and have seen several forward-thinking business models emerge for B2B marketplaces. The predominant revenue model of B2C marketplaces, the gross merchandise value (GMV) take rate, or percentage of each transaction, doesn’t always translate well in the B2B world. Instead, B2B marketplaces are discovering creative new ways to monetize their networks, ensuring their approach is tailored to the complex and nuanced world of B2B e-commerce. I’ll delve into each of these models below, providing examples of marketplaces that have successfully begun implementing them.

What makes B2B transactions unique? Before discussing how B2B marketplaces can deploy new business models, it’s important to think about how B2B transactions typically work.

Payment methods: There are four main ways to make a B2B payment: paper check, ACH transfer, electronic fund transfer (wires), and credit/debit cards. Nearly half of B2B payments are still made by paper check, but digital payment solutions are quickly gaining.

Financing: It is customary in B2B transactions to pay “with terms,” such as net 30 or net 60, effectively giving a line of credit to the business buyer that enables them to send payment after delivery of the good or service. Supply-chain financing and dynamic discounting are two mechanisms business buyers use to settle invoices with suppliers on preferred timelines.

Bulk discounts: Business buyers often expect and receive discounts in return for placing high-volume orders. While not a concept unique to B2B, negotiated or custom volume discounts can complicate the checkout process.

Contractual pricing: Businesses often enter into enterprise-level pricing agreements with their suppliers. In some B2B verticals, such as the veterinary supplies market, there is little consistency and transparency regarding the market price of any given item; instead, each buyer pays a bespoke price tied to contractual agreements. This dynamic typically benefits suppliers, which can price discriminate based on buyers’ ability and willingness to pay.

Delivery method and timing: Unlike consumers, businesses may place orders for goods but delay delivery for weeks or months. This is particularly common in the commodities market, where futures contracts specify a commodity to be delivered on a certain date in the future. B2B transactions typically include a negotiation on delivery method and timing.

Insurance: Business buyers frequently purchase insurance as part of their transactions, particularly in high-value verticals such as jewelry. Insurance is designed to protect against damage to the goods in transit or theft.

Compliance: In some verticals, particularly those related to healthcare and chemicals, there is a heavy compliance burden to ensure goods are properly sourced and transported. Is the seller legally registered to sell and transport sensitive goods such as medical equipment or pharmaceuticals?

With all of these considerations, it’s no wonder B2B e-commerce has been slower to digitize than B2C. From product discovery through the checkout process, a consumer buying a bag of licorice looks nothing like a retailer buying 100,000 bags of licorice from a distributor. The good news for B2B marketplace founders is that, based on the parameters above, there are many creative ways to extract value from transactions that go beyond the GMV take rate. Let’s explore some of the creative ways to monetize a B2B marketplace.

#advertising-tech, #apps, #b2b, #column, #crm, #e-commerce, #ecommerce, #finance, #marketing, #online-marketplace, #retail-stores, #software-platform, #startups, #tc

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Freshworks (re-)launches its CRM service

Freshworks, the customer and employee engagement company that offers a range of products, from call center and customer support software to HR tools and marketing automation services, today announced the launch of its newest product: Freshworks CRM. The new service, which the company built on top of its new Freshworks Neo platform, is meant to give sales and marketing teams all of the tools they need to get a better view of their customers — with a bit of machine learning thrown in for better predictions.

Freshworks CRM is essentially a rebrand of the company’s Freshsales service, combined with the company’s capabilities of its Freshmarketer marketing automation tool.

“Freshworks CRM unites Freshsales and Freshmarketer capabilities into one solution, which leverages an embedded customer data platform for an unprecedented and 360-degree view of the customer throughout their entire journey,” a company spokesperson told me.

The promise here is that this improved CRM solution is able to provide teams with a more complete view of their (potential) customers thanks to the unified view — and aggregated data — that the company’s Neo platform provides.

The company argues that the majority of CRM users quickly become disillusioned with their CRM service of choice — and the reason for that is because the data is poor. That’s where Freshworks thinks it can make a difference.

Freshworks CRM delivers upon the original promise of CRM: a single solution that combines AI-driven data, insights and intelligence and puts the customer front and center of business goals,” said Prakash Ramamurthy, the company’s chief product officer. “We built Freshworks CRM to harness the power of data and create immediate value, challenging legacy CRM solutions that have failed sales teams with clunky interfaces and incomplete data.”

The idea here is to provide teams with all of their marketing and sales data in a single dashboard and provide AI-assisted insights to them to help drive their decision making, which in turn should lead to a better customer experience — and more sales. The service offers predictive lead scoring and qualification, based on a host of signals users can customize to their needs, as well as Slack and Teams integrations, built-in telephony with call recording to reach out to prospects and more. A lot of these features were already available in Freshsales, too.

“The challenge for online education is the ‘completion rate’. To increase this, we need to understand the ‘Why’ aspect for a student to attend a course and design ‘What’ & ‘How’ to meet the personalized needs of our students so they can achieve their individual goals,” said Mamnoon Hadi Khan, the chief analytics officer at Shaw Academy. “With Freshworks CRM, Shaw Academy can track the entire student customer journey to better engage with them through our dedicated Student Success Managers and leverage AI to personalize their learning experience — meeting their objectives.”

Pricing for Freshworks CRM starts at $29 per user/month and goes up to $125 per user/month for the full enterprise plan with more advanced features.

#artificial-intelligence, #business, #cloud-applications, #cloud-computing, #crm, #customer-relationship-management, #enterprise, #erp-software, #freshworks, #insideview, #machine-learning, #marketing, #marketing-automation, #online-education, #web-applications

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SAP shares fall sharply after COVID-19 cuts revenue, profit forecast at software giant

SAP announced its Q3 earnings yesterday, with its aggregate results down across the board. And after missing earnings expectations, the company also revised its 2021 outlook down. The combined bad news spooked investors, crashing its shares by over 20% in pre-market trading and the stock wasn’t showing any signs of improving in early trading.

The German software giant has lost tens of billions of dollars in market cap as a result.

The overall report was gloomy, with total revenues falling 4% to €6.54 billion, cloud and software revenue down 2%, and operating profit down 12%. The only bright spot was its pure-cloud category, which grew 11% to €1.98 billion.

SAP’s revenue result was around €310 million under expectations, though its per-share profit beat both adjusted, and non-adjusted expectations.

While SAP’s big revenue miss might have been enough to send investors racing for the exits, its revised forecast doubled concerns. Even though the company said that its customers are accelerating their move to the cloud during the pandemic — something that TechCrunch has been tracking for some time now — SAP also said that the pandemic is slowing sales, and large projects.

Constellation Research anayst Holger Mueller says this is resulting in an unexpected revenue slow-down.

“What has happened at SAP is a cloud revenue delay as customers know that SAP is only investing into cloud products, and they have to migrate to those in the future. The news is that SAP customers are not migrating to the cloud during a pandemic,” Mueller told TechCrunch.

In a sign of the times, SAP spent a portion of its earnings results talking about 2025 results, a maneuver that failed to allay investor concerns that the pandemic was dramatically impacting SAP’s business today and in the coming year.

For 2020, SAP made the following cuts to its forecasts:

  • €8.0 – 8.2 billion non-IFRS cloud revenue at constant currencies (previously €8.3 – 8.7 billion
  • €23.1 – 23.6 billion non-IFRS cloud and software revenue at constant currencies (previously €23.4 – 24.0 billion)
  • €27.2 – 27.8 billion non-IFRS total revenue at constant currencies (previously €27.8 – 28.5 billion)
  • €8.1 – 8.5 billion non-IFRS operating profit at constant currencies (previously €8.1 – 8.7 billion)

So, €300 million to €500 million in cloud revenue is now gone, along with €300 million to €400 million in cloud and software revenue, and €600 to €700 million in total revenue. That cut profit expectations by up to €200 million.

The company, however, is trying to put a happy face on the future projections, believing that as the impact of COVID begins to diminish, existing customers will eventually shift to the cloud and that will drive significant new revenues over the longer term. The trade-off is short-term pain for the next year or two.

“Over the next two years, we expect to see muted growth of revenue accompanied by a flat to slightly lower operating profit. After 2022 momentum will pick up considerably though. Initial headwinds of the accelerated cloud transition will start to turn into tailwinds for revenue and profit. […] That translates to accelerated revenue growth and double digit operating profit growth from 2023 onwards,” SAP CFO Luka Mucic said in a call with analysts this morning.

The question now becomes can they meet these projections, and if the longer-term approach during a pandemic will placate investors. As of this morning, they weren’t looking happy about it.

#cloud, #crm, #customer-experience, #earnings, #enterprise, #enterprise-software, #erp, #sap

0

Extra Crunch Partner Perk: Get 6 months free of Zendesk Support and Sales CRM

We’re excited to announce an update to the Extra Crunch Partner Perk from Zendesk. Starting today, annual and two-year Extra Crunch members that are new to Zendesk, and meet their startup qualifications, can now receive six months of free access to Zendesk’s Sales CRM, in addition to Zendesk Support Suite, Zendesk Explore and Zendesk Sunshine.

Here is an overview of the program.

Zendesk is a service-first CRM company with support, sales and customer engagement products designed to improve customer relationships. This offer is only available for startups that are new to Zendesk, have fewer than 100 employees and are funded but have not raised beyond a Series B.

The Zendesk Partner Perk from Extra Crunch is inclusive of subscription fees, free for six months, after which you will be responsible for payment. Any downgrades to your Zendesk subscription will result in the forfeiture of the promotion, so please check with Zendesk first regarding any changes (startups@zendesk.com). Some add-ons such as Zendesk Talk and Zendesk Sell minutes are not included. Complete details of what’s included can be found here.

#business, #crm, #customer-relationship-management, #enterprise, #extra-crunch, #industries, #marketing, #zendesk

0

Should you replace your developer portal with a hybrid integration platform?

The concept of a developer portal is to provide the necessary technical information to configure and manage the communication between an API and both internal and external systems. Originally, it was not thought of as a business-generating tool for companies that adopt them. Rather, it was an interface between APIs, SDKs and other digital tools and their administrators.

However, over time, many developer portal elements have caused friction for partners and resulted in higher costs for the company providing the data through APIs.

An alternative option to replace a developer portal is a Hybrid Integration Platform (HIP), a simple system connection solution that has the potential to generate more business through pairing ecosystems directly, efficiently and at a lower cost.

Fixing potential developer portal problems

The leading cause of friction within a developer portal is the amount of time it takes to create and support it. Quite often, an integration is delayed because the company providing the API is stuck waiting for support from the people they are working with.

To fulfill the demand for consumers in different stages of maturity, companies providing APIs later realized they needed to provide more data, new business cases and different mappings and transformations.

Once the portal and APIs adapt to the system, three key factors are necessary to provide a good user experience in the developer portal:

  1. Complete and easy-to-use documentation.
  2. Actionable and effective solution options.
  3. Quick response time.

Frequently, isolated and disconnected business challenges complicate developer portal implementations. To avoid such challenges, you should address these questions before the implementation process takes place:

  1. How can you ensure the business will benefit from the connection with partners, suppliers and customers?
  2. Is it possible to become more efficient, have lower integration costs and improve implementation and adoption times for technological solutions?
  3. How is innovation unlocked when previously unavailable data and services are made internally available?

When approaching a systems integration, it’s essential to develop a solution that considers business results first, before simplifying or removing any technical issues. Fixing predicted issues before they become problems only wastes time and takes the focus off the goal of making your business more efficient and profitable. Yet, many times we see the opposite happen — businesses tend to spend too much time fixing problems before they even occur.

#api, #cloud, #column, #computing, #crm, #developer, #saas, #software-engineering, #tc, #web-development

0

Scratchpad announces $3.6M seed to put work space on top of Salesforce

One thing that annoys sales people is entering data into a CRM like Salesforce because it’s time spent not selling. Part of the problem is Salesforce is a database and as such is not necessarily designed for speed. Scratchpad wants to simplify that process by creating a workspace on top of the CRM to accelerate the administrative side of the job.

Today, the company announced a $3.6 million seed round led by Accel with participation from Shrug Capital and Sound Ventures, the firm run by Ashton Kutcher and Guy Oseary, as well as several individual investors. The round, which closed at the end of last year, hadn’t been previously announced.

Last year, company co-founder and CEO Pouyan Salehi had just stepped down from his previous company PersistIQ, a sales enablement startup that came out of Y Combinator in 2014. He and his co-founder Cyrus Karbassiyoon began researching a new company, and the idea for Scratchpad came to them when they simply sat down and watched how salespeople were working. They noted that they were using a hodgepodge of tools like taking notes in Evernote or Google Docs, tracking their pipeline in Excel or Google Sheets and tracking tasks with paper lists or sticky notes.

They recognized that these tools were disconnected from Salesforce and required hours of manual work copying and pasting this data. That’s when they saw there was an opportunity here to build a tool to track all of this information in one place and connect it to Salesforce to automate a lot of this grunt work.

“It eventually evolved into this idea that we’re calling “The Workspace” because everyone has Salesforce, but they are working with all of these other tools that then they just have to literally spend hours — and we saw some reps block off four hour chunks on their calendar — just to copy and paste from their documents, spreadsheets or notes into Salesforce for their pipeline reviews. And that’s how the idea for Scratchpad came to be,” Salehi told TechCrunch.

Today, a salesperson can install Scratchpad as a Chrome plug-in, connect to Salesforce with their log-in credentials and create a two-way connection between the tools. Scratchpad pulls all of their pipeline data into the WorkSpace. They can cycle through the various fields to enter information quickly, enter notes and track tasks (which can be pulled from email and calendar) all in one place.

What’s more, because all of this information is linked to Salesforce, anything you enter in Scratchpad updates the corresponding fields and sections in Salesforce automatically. And any new opportunities that start in Salesforce update in Scratchpad.

The company has been operating for about a year and has 1000s of users, although many are currently using the free tier. It has 7 employees with plans to hire more over the next year. As he builds his second company, Salehi says he and his co-founder are building on a foundation of diversity and inclusion.

“By nature, we are very diverse in many different perspectives that you can look at including gender, age, location and backgrounds,” he said. He adds that building a diverse and inclusive workforce is important to the company.

“And so even in our hiring process, we incorporated certain elements just to make sure that we’re not introducing bias in any sort of way, or at least recognizing that the natural bias and thoughts we might have. We look at things like doing blind looks at resumes and it’s something that we take very, very seriously,” he said.

While the company is built on top of Salesforce today, he says it could expand to include other databases or sources of information where the product could also work. For now though, he sees an opportunity to build another company in the sales arena to help reduce the amount of work associated with updating the CRM database.

#accel, #cloud, #crm, #enterprise, #funding, #persistiq, #recent-funding, #saas, #sales-tools, #salesforce, #startups, #tc

0

Salesforce creates for profit platform to help governments distribute COVID vaccine when it’s ready

For more than 20 years, Salesforce has been selling cloud business software, but it has also used the same platform to build ways to track other elements besides sales, marketing and service information including Work.com, the platform it created earlier this year to help companies develop and organize a safe way to begin returning to work during the pandemic.

Today, the company announced it was putting that same platform to work to help distribute and track a vaccine whenever it becomes available along with related materials like syringes that will be needed to administer it. The plan is to use Salesforce tools to solve logistical problems around distributing the vaccine, as well as data to understand where it could be needed most and the efficacy of the drug, according to Bill Patterson, EVP and general manager for CRM applications at Salesforce.

“The next wave of the virus phasing, if you will, will be [when] a vaccine is on the horizon, and we begin planning the logistics. Can we plan the orchestration? Can we measure the inventory? Can we track the outcomes of the vaccine once it reaches the public’s hands,” Patterson asked.

Salesforce has put together a new product called Work.com for Vaccines to put its platform to work to help answer these questions, which Patterson says ultimately involves logistics and data, two areas that are strengths for Salesforce.

The platform includes the core Work.com command center along with additional components for inventory management, appointment management, clinical administration, outcome monitoring and public outreach.

While this all sounds good, what Salesforce lacks of course is expertise in drug distribution or public health administration, but the company believes that by creating a flexible platform with open data that government entities can share that data with other software products outside of the Salesforce family.

“That’s why it’s important to use an open data platform that allows for aggregate data to be quickly summarized and abstracted for public use,” he said. He points to the fact that some states are using Tableau, the company that Salesforce bought last year for a tidy $15.7 billion, to track other types of COVID data.

“Many states today are running all their COVID testing and positive case reporting through the Tableau platform. We want to do the same kind of exchange of data with things like inventory management [for a vaccine],” he said.

While this sounds like a public service kind of activity, Salesforce intends to sell this product to governments to manage vaccines. Patterson says that to run a system like this at what they envision will be enormous scale, it will be a service that governments have to pay for to access.

This isn’t the first time that Salesforce has created a product that falls somewhat outside of the standard kind of business realm, but which takes advantage of the Salesforce platform. Last year it developed a tool to help companies measure how sustainable they are being. While the end goal is positive, just like Work.com for Vaccines and the broader Work.com platform, it is a tool that they charge for to help companies implement and measure these kinds of initiatives.

The tool set is available starting today. Pricing will vary depending on the requirements and components of each government entity.

The real question here is should this kind of distribution platform be created by a private company like Salesforce for profit, or perhaps would be better suited to an open source project, where a community of developers could create the software and distribute it for free.

#cloud, #covid-19, #crm, #enterprise, #government, #logistics, #saas, #salesforce, #tc, #vaccine

0

Gillmor Gang: Over 2 U

The pandemic shook up our and virtually every other video news production process as Zoom became the focus of our daily lives; slowly but surely we’ve altered the production process to reflect Zoom’s easy on boarding and semi-casual approach to virtualized meetings and conversations.

We now use a series of interweaved services to broadcast the live Zoom recording session over ReStream, which in turn streams to Twitter/Periscope, YouTube, and Facebook Live. Some of the show’s regulars share the Facebook stream using Watch Party, aggregating comments and viewership metadata of their friends and cohorts. Once the session is over, we add music, titles, and pointers to the Gillmor Gang Telegram Backchannel, and embed the YouTube mix here on TechCrunch.

Much of this live-streaming strategy has been workshopped with people like Brent Leary who with his CRM Playaz partner Paul Greenberg produce a growing series of livestreams on LinkedIn, Facebook, and other social networks. Brent joined the Gang in late 2019. On this Gillmor Gang episode, Brent switches gears from yet-another-TikToc segment to a new streaming target, Twitch. Just before he bails to co-host a Playaz show, I ask him to explain the latest project they’re cooking up. Here, in his own words, is more:

CRM Playaz Executive Roundtable Convo Livestream…Not Webinar….or Panel

We’re seeing broadcast media use streaming platforms to do their jobs while they shelter in place and social distance. And while some of this has the look and feel of a Zoom conference call we’re all experiencing way too much, as time goes on they also are beginning to make these livestreams look like regular broadcasts to a certain extent. Which means that if they can take cues from us amateurs to do their broadcasts, we can do the same, or at least attempt to, by making our “programming” more tv-like.

So, Paul Greenberg and I, underneath the umbrella of our CRM Playaz video podcast, had an idea. To bring senior executives from the five leading vendors in the CRM industry – according to industry market share – together for a free flowing conversation about the state of the industry seven months into the pandemic. Kind of like what you might see on a cable news segment…but of course there’s no way you’d see a bunch of execs talking about CRM on CNN, Fox or MSNBC. But we’re gonna do it, complete with a post-roundtable show directly following the discussion with a number of rapid-fire panels of industry analysts and thought leaders sharing their thoughts and opinions on what they heard from executive convo.

Now we aren’t talking webinar here, or something stiff and controlled like you’d normally see from a traditional panel of high level execs. Not that there’s anything wrong with a traditional webinar or panel. But these streaming platforms give us the ability to put a different lens on things. Maybe create an environment for a less polished but just as substantive group convo which goes wherever it needs to – and goes with humor and flexibility and twists and turns…and comradery. And maybe there’s an audience of folks out there in their comfortable home office taking it all in and also participating with their own commentary that might also become a part of the conversation. And those are the cues we can take from the broadcast media – to make these business livestreams more comfortable, more communal, and more real… and less staged and sterile.

So we’ll see how it goes on October 8th at 1:30pm et, as we are excited to bring together a group of folks who are not only leaders at the leading vendors, but also people who have personalities and senses of humor to go with all the experience and smarts. Because when you get into what will no doubt have serious interactions on important subjects, we think you can do it in a way that allows us to be human – and possibly smile at seeing a dog or cat in the background – Anne Chen of Salesforce knows what I mean. Or laugh when a little kid of one of these high-powered execs come stomping into the room looking for his mom or dad. And maybe catch a glimpse of something you just wouldn’t experience in the traditional settings you’d normally see a panel made up of folks like:

  • Suresh Vittal, VP Experience Cloud Platform and Products, Adobe
  • Alysa Taylor, CVP Business Applications and Global Industry, Microsoft
  • Rob Tarkoff, EVP/GM of #CX, Oracle
  • Bill Patterson, EVP/GM #CRM Applications, Salesforce
  • Bob Stutz, President, CX, SAP

So if you’re into CRM, or just curious to see how this all comes off, you can register to join us for the livestream at https://www.linkedin.com/events/crmplayazexecutiveroundtableconversation/ (https://www.linkedin.com/events/crmplayazexecutiveroundtableconversation/). And let us know what you think in realtime…

__________________

The Gillmor Gang — Frank Radice, Michael Markman, Keith Teare, Denis Pombriant, Brent Leary and Steve Gillmor . Recorded live Friday, September 25, 2020.

Produced and directed by Tina Chase Gillmor @tinagillmor

@fradice, @mickeleh, @denispombriant, @kteare, @brentleary, @stevegillmor, @gillmorgang

For more, subscribe to the Gillmor Gang Newsletter and join the notification feed here on Telegram.

The Gillmor Gang on Facebook … and here’s our sister show G3 on Facebook.

#brent-leary, #denis-pombriant, #frank-radice, #keith-teare, #michael-markman, #steve-gillmor, #tc, #video

0

HubSpot’s new end-to-end sales hub aims to simplify CRM for mid-market customers

HubSpot, the Boston firm that made its name by helping to define the in-bound marketing concept, sees a pandemic landscape that’s changing the way companies sell, forcing more inside sales. Today, the company announced the HubSpot Sales Hub Enterprise at Inbound, their annual conference being held virtually this year.

While the company has been offering a CRM tool for five years now, where they feel they have addressed ease of use issues for sales people, the new tool is about bringing a new end-to-end approach addressing the needs of sales people, as well as management and system admins, says Lou Orfanos, GM and VP of Sales Hub at HubSpot.

“So, this is about [providing customers with a more powerful set of tools] and also just making sure that you can run your sales process end to end in our platform. We feel really good about being able to offer that out of the box natively and being able to do everything you need to do [in one tool], which is I think pretty unique given the state of the market and having to [cobble] a bunch of things together yourself,” Orfanos explained.

While the previous product was aimed more at smaller businesses, CMO Yamini Rangan, who previously worked at Dropbox, Workday and SAP, says this product is aimed more at mid-market companies with more complex sales workflows.

“What we find is that the customer experience for a 500 person company or for a 1000 person company is quite different and their expectations are quite different than a 10 person small business. What the Sales Hub Enterprise specifically brings is the ease of use, as well as the powerful features […] to a larger mid-market organization,” Rangan said.

HubSpot specifically sees larger companies in this space like Adobe, Salesforce and SAP acquiring different pieces of the stack, and then incorporating them into a solution, or customers pulling together different pieces of the stack themselves. The company believes that by building a single integrated solution themselves, it’s going to be naturally easier to use.

“We also find that that’s the size of the company where the tech stack, the sales stack and the marketing stack gets super complex, and they’re spending a lot of time trying to integrate a lot of different point solutions and what we find is having all of this — marketing, CMS, sales underlined by a CRM platform — that gives them visibility that they need to run their entire go to market operations,” she said.

While the lower end of the market where HubSpot is aiming for probably won’t interest larger competitors, especially Salesforce, as they move up in that market to larger companies, they expect to compete with those companies. Rangan says that she believes by providing this new offering, they are giving customers options they didn’t have before.

But she also sees this as a way into companies as they grow, and if HubSpot can catch them earlier in their evolution, they can grow with them and become their vendor of choice, rather than the usual suspects.

“What we find is that companies will start as 100 person company and grow to become a 500 or a 1000 person company, and as they grow up on HubSpot we become their growth suite and we become the core platform of record for them to continue to grow,” she said.

#cloud, #crm, #digital-marketing, #enterprise, #hubspot, #saas

0

Salesforce announces 12,000 new jobs in the next year just weeks after laying off 1000

In a case of bizarre timing, Salesforce announced it was laying off 1000 employees at the end of last month just a day after announcing a monster quarter with over $5 billion in revenue, putting the company on a $20 billion revenue run rate for the first time. The juxtaposition was hard to miss.

Earlier today, Salesforce CEO and co-founder Marc Benioff announced in tweet that the company would be hiring 4000 new employees in the next six months, and 12,000 in the next year. While it seems like a mixed message, it’s probably more about reallocating resources to areas where they are needed more.

While Salesforce wouldn’t comment further on the hirings, the company has obviously been doing well in spite of the pandemic, which has had an impact on customers. In the prior quarter, the company forecasted that it would have slower revenue growth due to giving some customers facing hard times with economic downturn, time to pay their bills.

That’s why it was surprising when the CRM giant announced its earnings in August and it had done so well in spite of all that. While the company was laying off those 1000 people, it did indicate it would give those employees 60 days to find other positions in the company. With these new jobs, assuming they are positions the laid off employees are qualified for, they could have a variety of positions to choose from.

The company had 54,000 employees when it announced the layoffs, which accounted for 1.9% of the workforce. If it ends up adding the 12,000 news jobs in the next year, that would put at approximately 65,000 employees by this time next year.

#cloud, #crm, #enterprise, #hiring, #layoffs, #marc-benioff, #saas, #salesforce, #tc

0

#Brandneu – 6 neue Startups, die jeder auf dem Schirm haben sollte


Jeden Tag entstehen überall in Deutschland, Österreich und der Schweiz neue Startups. deutsche-startups.de präsentiert an dieser Stelle wieder einmal einige ganz junge Startups, die zuletzt, also in den vergangenen Tagen, Wochen und Monaten an den Start gegangen sind sowie einige junge Firmen, die zuletzt aus dem Stealth-Mode erwacht sind und erstmals für Schlagzeilen gesorgt haben.

Simity
Hinter Simity verbirgt sich eine “CRM-Lösung für lokale Unternehmen, um offline Daten zum Kundenverhalten zu generieren”. Dabei geht es darum, dass Nutzer etwa besser mit ihrem Bestandskunden kommunizieren oder “Gästen vor Ort ein besonderes Angebot” schicken können.

URL: www.simity.de
Hashtags: #Tool #Software #CRM
Ort: Hannover
Gründer: Jan-Niklas Schmitz, Sebastian Böddeker

TripLegend
Das Travel-Startup TripLegend richtet sich an Millennials. Diesen möchte der digitale Reiseveranstalter “einzigartige Kleingruppen-Abenteuerreisen anbieten”. Dazu teilen die Berliner mit: “Wir kombinieren Technologien mit gesundem Menschenverstand, um die besten Lösungen für Mensch und Natur zu entwickeln”.

URL: www.triplegend.com
Hashtags: #Travel
Ort: Berlin
Gründer: Brian Ruhe, Alexander Ditzel, Martin Ditzel

yeew
Das junge Kölner Startup yeew bringt sich als “Partner für lokale Werbung auf Smartphones” in Stellung. Das AdTech aus dem Dunstkreis der Verlagsgruppe Aschendorff wird von den Seriengründern Coskun Tuna, früher Seeding Alliance, und Thorsten Kambach geführt.

URL: www.yeew.de
Hashtags: #AdTech
Ort: Köln
Gründer: Coskun Tuna, Thorsten Kambach

Stargazr
Hinter Stargazr aus Hamburg verbirgt sich ein “webbasierter Softwareanbieter, der Controlling Teams unterstützt, ihr Unternehmensergebnis besser zu verstehen und zu steuern”. Stargazr aus Hamburg liefert somit eine “innovative KI-Software für modernes Controlling”.

URL: www.stargazr.ai
Hashtags: #FinTech #Software
Ort: Hamburg
Gründer: Rafi Wadan, Juan C. Roldan

Philex Protein
Bei Philex Protein dreht sich alles um Proteinsnacks. Das Startup bietet verschiedene Sorten wie Apfel-Banane oder Dattel-Vanille als Backmischungen an. “Wir haben alle Früchte und jede einzelne Nuss gekostet und getestet” – versprechen die Gründer aus Bad Köstritz.

URL: www.philexprotein.com
Hashtags:#Food #eCommerce
Ort: Bad Köstritz
Gründer: Philipp Weiler, Alexander Seliger

JL-Clean
Bei JL-Clean dreht sich alles um Heimtextilreinigungen. Zum Start fokussieren sich die Gründer auf Teppichreinigungen. Polsterreinigung kommen demnächst hinzu. “Wir arbeiten nur mit etablierten mittelständischen Reinigungsunternehmen zusammen”, verspricht das junge Startup.

URL: www.jl-clean.de
Hashtags: #Marktplatz #Dienstleitung
Ort: Frankfurt am Main
Gründer: Janis Curtius, Luca Bös

Tipp: In unserem Newsletter Startup-Radar berichten wir einmal in der Woche über junge, frische und brandneue Startups, die noch nicht jeder kennt. Alle diese Startups stellen wir in unserem kostenpflichtigen Newsletter kurz und knapp vor und bringen sie so auf den Radar der bundesweiten Startup-Szene und im besten Fall auf die Agenda von Investoren, Unternehmen und potenziellen Kooperationspartnern. Jetzt unseren Newsletter Startup-Radar sofort abonnieren!

Startup-Jobs: Auf der Suche nach einer neuen Herausforderung? In der unserer Jobbörse findet Ihr Stellenanzeigen von Startups und Unternehmen.

Foto (oben): Shutterstock

#aktuell, #brandneu, #jl-clean, #philesimity, #philex-protein, #simity, #stargazr, #startup-radar, #triplegend, #yeew

0

How Salesforce beat its own target to reach $20B run rate ahead of schedule

Salesforce launched in 1999, one of the early adherents to what would eventually be called SaaS and cloud computing. On Tuesday, the company reached a huge milestone when it surpassed $5 billion in revenue, putting the SaaS giant on a $20 billion run rate for the first time.

Salesforce revenue has been on a firm upward trajectory for years now, but when the company reached $10 billion in revenue in November 2017, CEO Marc Benioff set the goal for $20 billion right then and there, and five years hence the company beat that goal pretty easily. Here’s what he said at the time:

“In fact as the fastest growing enterprise software company ever to reach $10 billion, we are now targeting to grow the company organically to more than $20 billion by fiscal year 2022 and we plan to do that to be the fastest enterprise software company ever to get to $20 billion,” Benioff said at the time.

There are lots of elements that have led to that success. As the Salesforce platform evolved, the company has also had an aggressive acquisition strategy, and companies are moving to the cloud faster than ever before. Yet Salesforce has been able to meet that lofty 2017 goal early, while practicing his own unique form of responsible capitalism in the midst of a pandemic.

The platform play

While there are many factors contributing to the company’s revenue growth, one big part of it is the platform. As a platform, it’s not only about providing a set of software tools like CRM, marketing automation and customer service, it’s also giving customers the ability to build solutions to meet their needs on top of that, taking advantage of the work that Salesforce has done to build its own software stack.

Bret Taylor, president and chief operating officer at Salesforce says the platform has played a huge role in the company’s success. “Actually our platform is behind a huge part of Salesforce’s momentum in multiple ways. One, which is one thing we’ve talked a lot about, is just the technology characteristics of the platform, namely that it’s low code and fast time to value,” he
said.

He added, “I would say that these low code platforms and the ability to stand up solutions quickly is more relevant than ever before because our customers are going to have to respond to changes in their business faster than ever before,” he said.

He pointed to nCino, a company built on top of Salesforce that went public last month as a prime example of this. The company was built on Salesforce, sold in the AppExchange marketplace and provides a way for banking customers to do business online, taking advantage of all that Salesforce has built to do that.

The acquisition strategy

Another big contributing factor to the company’s success is that beyond the core CRM product, it brought to the table way back in 1999, it has built a broad set of marketing, sales and service tools and as it has done that, it has acquired many companies along the way to accelerate the product road map.

The biggest of those acquisitions by far was the $15.7 billion Tableau deal, which closed just about a year ago. Taylor sees data fueling the push to digital we are seeing during the pandemic, and Tableau is a key part of that.

“Tableau is so strategic, both from a revenue and also from a technology strategy perspective,” he said. That’s because as companies make the shift to digital, it becomes more important than ever to help them visualize and understand that data in order to understand their customer’s requirements better.

“Fundamentally when you look at what a company needs to do to thrive in an all-digital world, it needs to be able respond to [rapid] changes, which means creating a culture around that data,” he said. This enables companies to respond more quickly to changes like new customer demands or shifts in the supply chain.

“All of that is about data, and I think the reason why Tableau grew so much this past quarter is that I think that the conversation around data when you’re digitizing your entire company and digitizing the entire economy, data is more strategic than it ever was,” he said.

With that purchase, combined with the $6.5 billion MuleSoft acquisition in 2018, the company feels like it has a way to capture and visualize data wherever it lives in the enterprise. “It’s worth noting how complementary MuleSoft and Tableau are together. I think of MuleSoft as unlocking all your enterprise data, whether it’s on a legacy system or a modern system, and Tableau enables us to understand it, and so it’s a really strategic overall value proposition because we can come up with a really complete solution around data,” Taylor said.

Capitalism with some heart

Benioff was happy to point out in an appearance on Mad Money Tuesday that even as he has made charity and volunteerism a core part of his organization, he has still delivered solid returns for his shareholders. He told Mad Money host Jim Cramer, “This is a victory for stakeholder capitalism. It shows you can do good and do well.” This is a statement he has made frequently in the past to show that you can be a good corporate citizen and give back to your community, while still making money.

Those values are what separates the company from the pack says Paul Greenberg, founder and principal analyst at 56 Group and author of CRM at the Speed of Light. “Salesforce’s genius, and a large part of the reason I don’t expect any serious slowdown in that extraordinary growth, is that they manage to align the technology business with corporate social responsibility in a way that makes them stand out from any other company,” Greenberg told TechCrunch.

Yesterday’s numbers come after Q12021 in which the company offered softer guidance as it was giving some of its customers, suffering from the impact of the pandemic, more financial flexibility. As it turns out, that didn’t seem to hurt them, and the guidance for next quarter is looking good too: $5.24 billion to $5.25 billion, up approximately 16% year over year, according to the company.

It’s worth noting that while Benioff pledged no new layoffs for 90 days at the start of the pandemic, with that time now ending, the Wall Street Journal reported yesterday that the company was planning to eliminate 1000 roles out of the organization’s 54,000 total employees, while giving those workers 60 days to find other roles in the company.

Getting to $20 billion

Certainly getting to that $20 billion run rate is significant, as is the speed with which they were able to achieve that goal, but Taylor sees an evolving company, one that is different than the one it was in 2017 when Benioff set that goal.

“I would say the reason we’ve been able to accelerate is through organic [growth], innovation and acquisitions to really build out this vision of a complete customer [picture]. I think it’s more important than ever before,” he said.

He says that when you look at the way the platform has changed, it’s been about bringing multiple customer experience capabilities together under a single umbrella, and giving customers the tools they need to build these out.

“I think we as a company have constantly redefined what customer relationship management means. It’s not just opportunity management for sales teams. It’s customer service, it’s eCommerce, it’s digital marketing, it’s B2B, it’s B2C. It’s. all of the above,” he said.

#bret-taylor, #cloud, #covid-19, #crm, #earnings, #enterprise, #marc-benioff, #saas, #salesforce, #tc

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Salesforce confirms it’s laying off around 1000 people in spite of monster quarter

In what felt like strange timing, Salesforce has confirmed a report in yesterday’s Wall Street Journal that it was laying off around 1000 people or approximately 1.9% of the company’s 54,000 strong workforce. This news came in spite of the company reporting a monster quarter on Tuesday in which it passed $5 billion in quarterly revenue for the first time.

In fact, Wall Street was so thrilled with Salesforce’s results, the company’s stock closed up an astonishing 26% yesterday, adding great wealth to the company’s coffers. It seemed hard to reconcile such amazing financial success with this news.

Yet it was actually something that president and chief financial officer Mark Hawkins telegraphed in Tuesday’s earnings call with industry analysts, although he didn’t come right and use the L (layoff) word. Instead he couched that impending change as a reallocation of resources.

And he talked about strategically shifting investments over the next 12-24 months. “This means we’ll be redirecting some of our resources to fuel growth in areas that are no longer as aligned with the business priority will be now deemphasized,” Hawkins said in the call.

This is precisely how a Salesforce spokesperson put it when asked by TechCrunch to confirm the story. “We’re reallocating resources to position the company for continued growth. This includes continuing to hire and redirecting some employees to fuel our strategic areas, and eliminating some positions that no longer map to our business priorities. For affected employees, we are helping them find the next step in their careers, whether within our company or a new opportunity,” the spokesperson said.

It’s worth noting that earlier this year, Salesforce CEO Marc Benioff pledged there would be no significant layoffs for 90 days.

The 90 day period has long since passed and the company has decided the time is right to make some adjustments to the workforce.

It’s worth contrasting this with the pledge that ServiceNow CEO Bill McDermott made a few weeks after the Benioff tweet, promising not to lay off a single employee for the rest of this year, while also pledging to hire 1000 people worldwide the remainder of this year, while bringing in 360 summer interns.

#bill-mcdermott, #cloud, #covid-19, #crm, #enterprise, #finance, #layoffs, #marc-benioff, #saas, #servicenow, #tc

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SugarCRM acquires Node to gain predictive customer intelligence

SugarCRM announced this morning it has acquired customer intelligence startup, Node. The companies did not reveal the purchase price, but the deal has closed.

While Sugar gains a ton of AI expertise, it also adds a customer prediction element to the platform such as figuring out the customers most likely to convert or most likely to leave.

This puts it in more direct competition with Adobe and Salesforce, who have had intelligence layers that provide that kind of predictability for some time. CEO Craig Charlton says his company’s solution puts that kind of capability in reach of more companies.

“Sugar is democratizing AI, ushering in a new frontier in CX (customer experience) with its powerful combination of ​AI, time-aware and data enrichment, to drive business performance and enable predictability for companies of all sizes,” Charlton said in a statement.

Node CEO and founder Falon Fatemi says that the two companies had previously engaged commercially and immediately saw that it would make sense to come together. “The team at Sugar instantly saw the value of our prediction-as-a-service platform to accelerate time to market in putting the power of prediction into all of Sugar’s products across specific use cases that have challenged sales, marketing and service teams for decades,” Fatemi told TechCrunch.

Paul Greenberg, president of the 56 Group and author of CRM at the Speed of Light, says that the two companies match up well, and Node represents a valuable addition for Sugar. “Node fills a gap for SugarCRM adding engagement analytics and action at both ends of the business, and at the same time provides a market differentiator for them,” he said.

Node’s 30 employees will be joining the company, but Fatemi will not be going with them. Instead, she reports that she is moving on to start something new. “I’m moving onto a new venture and will share more details at the appropriate time,” she said.

Sugar has been around since 2004 and raised over $123 million along the way. Accel-KKR bought the company in 2018, and began a process of evaluating and overhauling it as private equity firms tend to do.

It brought in CEO Charlton to run things last year and started on a road of using acquisitions to fill in holes in the platform. This represents the fourth acquisition including three last year, according to Crunchbase data.

Node was founded in 2014 and has raised over $43 million, according to Crunchbase.

#artificial-intelligence, #cloud, #crm, #customer-intelligence, #exit, #falon-fatemi, #fundings-exits, #ma, #mergers-and-acquisitions, #node, #private-equity, #startups, #sugarcrm, #tc

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TikTok’s big UnitedMasters deal is the way forward for creators looking to secure their bag

TikTok is right in the jaws of a thorny situation with the U.S. Government regarding its ownership, but it’s sending a clear message today that it is not sitting on its heels with big deals. Yesterday, it announced a deal with UnitedMasters to allow artists on TikTok to distribute their songs directly to streaming services and other partners directly.

UnitedMasters is the un-record-label label — in fact a direct distribution company founded by former president of Interscope Records, Steve Stoute. The firm allows musicians (especially budding ones) to pay a competitive distribution rate to get access to Spotify, YouTube, SoundCloud, Apple Music and other services. It also gets them access to analytics, retargeting, CRM tools and individual deals that UM makes with brands like ESPN and the NBA.

Normally, the path between an artist being able to go viral on TikTok and be included in the next NBA 2k or before an official game on the air would be a long one involving a lot of knives out for pieces of the pie. UnitedMasters shortcuts all of this.

The simple scenario is this:

  • An aspiring artist or songwriter puts out a song or riff on TikTok (likely one of many).
  • This one has something and it catches on the algorithm and generates numbers.
  • The creator opts in to participating in UnitedMasters’ program.
  • They give up a cut of 10% but get direct distribution into the major streaming buckets and potential A-grade partners. (There’s also a $5/mo subscription option.)
  • They can also market things like tickets, merch and more directly to fans using UM’s customer tools.
  • The artist keeps 100% of their royalties.

Which is why a tie up with TikTok makes a hell of a lot of sense. One of the biggest issues with viral social platforms has been the way that they reward creators. Twitter’s Vine, of course, squandered their opportunity there. Even YouTube has had major problems providing consistent revenue to many of its top creators, with a long trend towards big hitters monetizing off platform in order to earn consistent, durable money.

TikTok has already announced a creators fund with a significant purse, but it needs to go beyond that. We’ve seen over and over how young creators on the platform create viral waves of attention for TikTok and millions of re-enactments and remixes. Often, though, those creators are offered little recourse to monetize or benefit from their creations. Dance creators and musical talents, often young Black women, are literally crafting culture in real-time on TikTok and the pathways for them to benefit materially are very rare. Sure, it’s great when an originator gets called out by a Times reporter willing to do the work to trace the source, but what about the thousands of others being minted as a real voice on the platform every month?

It’s beyond time for the creators of The Culture to benefit from that culture. That’s why I find this UnitedMasters deal so interesting. Offering a direct pipeline to audiences without the attendant vulture-ism of the recording industry apparatus is really well aligned with a platform like TikTok, which encourages and enables ‘viral sounds’ with collaborative performances. Traditional deal structures are not well suited to capturing viral hype, which can rise and fall within weeks without additional fuel.

In terms of overall platforms, TikTok clearly has the highest concentration of incredible and un-tapped musical talent on the market. It’s just wild how many creators I see on there that are just flat out as good if not better than what you hear on the radio. Opera, rap, soul, folk, comedy, songwriting, it runs the gamut.

TikTok CEO Kevin Mayer came to the company after a long stint at Disney ending with a very successful Disney+ launch. Almost immediately, he was dropped into a political firestorm between China and the U.S. government. Parent company ByteDance must sell within 90 days, says Trump, or get shut down. Microsoft might buy them. Other tech companies are circling. This deal is a pretty crisp forward-looking signal that TikTok sees a way through this and is not waiting to innovate on one of the trickier components of this era of user generated businesses.

And on top of that, it charts a course for how user generated platforms should look to service creators and keep them in their universe. All UGC plays garner significant value from the creative energies of their users, but few have found a way to make that relationship reciprocal in a way that feels sustainable.

This UnitedMasters deal feels different, and the start of a larger trend that could pay big dividends to platforms and, finally, creators.

#apple-music, #artist, #byte, #bytedance, #ceo, #china, #computing, #crm, #disney, #espn, #kevin-mayer, #microsoft, #national-basketball-association, #nba, #president, #software, #soundcloud, #spotify, #steve-stoute, #tc, #tiktok, #trump, #u-s-government, #united-states, #unitedmasters, #video-hosting, #vine

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Seed funding tips and tricks from Uncork Capital founder Jeff Clavier

Angel funding, seed investing and generally focusing on earlier stage investing is a huge business in the world of startups these days — it helps investors get in early to the most promising companies, and (because of the smaller size of the checks) allows for even the less prolific to spread their bets.

There was a time when it was immensely difficult for a founder to get a first check, not least because there were fewer people writing them. However, Jeff Clavier was an exception to that rule.

As the founder of Uncork Capital (formerly known as SoftTech VC), he has been in the business of angel and seed investing for 16 years, popularizing the opportunity and highlighting the need for more support at this stage — well before it was cool. You could say he was early to early stage.

Clavier said that at the end of 2019, it was estimated that there were more than 1,000 firms focusing on seed investing in the market, but by the end of this year, there will be about 2,000. “Don’t ask me whether it makes any sense because when I started 16 years ago, I didn’t think would be a big deal,” he said. “But certainly that creates a bit of a conundrum for founders to try and understand.”

As of now, Clavier has made nearly 230 investments and counting.

TechCrunch Early Stage, our virtual conference highlighting that stage of startup life, was the perfect venue to hear from him on all things seed investing and building startups today. Below are some highlights, a link to the video and a pitch deck he put together for the chat. Questions were edited for space and clarity.

Not all VCs are created equal (so know who you are pitching)

First thing to understand is that not all VCs are created equal. There are a bunch of different firms, tons of them out there, and you as a founder need to understand what are the specifics of your pitch opportunity, how to match with the right firm, and to figure out what stage of “early” you happen to be.

Startups can be super early, or mid-stage, which is typically what we refer to as pre-seed. Then there’s the seed stage, where you have developed a product, with a demo. And there is post-seed, where you have product but are not quite ready to raise a Series A. So who are the firms that can actually be the right fit for me at those different stages? The qualification part of the targeting is really important. Especially in a COVID environment when you can’t spend the same kind of time with each other.

It’s useful for founders to try and understand investors better, maybe asking a couple of questions like, “When is the last time you made a brand new investment at seed stage?” And “How has your investment process changed as a result of COVID?”

For investors, you want to understand how you’re going to evolve your process to cope with the fact that you don’t spend time with those founders face-to-face. Some firms are still struggling with that.

At Uncork, we’re now past the point of portfolio triage that we had in the first few weeks of of the pandemic. What was surprising to me was the speed and velocity at which some deals actually.

Find an investment lead

#consumer-hardware, #crm, #entrepreneur, #entrepreneurship, #extra-crunch, #fundraising, #jeff-clavier, #keith-rabois, #private-equity, #seed-round, #startups, #tc, #techcrunch-early-stage, #venture-capital

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The essential revenue software stack

From working with our 90+ portfolio companies and their customers, as well as from frequent conversations with enterprise leaders, we have observed a set of software services emerge and evolve to become best practice for revenue teams. This set of services — call it the “revenue stack” — is used by sales, marketing and growth teams to identify and manage their prospects and revenue.

The evolution of this revenue stack started long before anyone had ever heard the word coronavirus, but now the stakes are even higher as the pandemic has accelerated this evolution into a race. Revenue teams across the country have been forced to change their tactics and tools in the blink of an eye in order to adapt to this new normal — one in which they needed to learn how to sell in not only an all-digital world but also an all-remote one where teams are dispersed more than ever before. The modern “remote-virtual-digital”-enabled revenue team has a new urgency for modern technology that equips them to be just as — and perhaps even more — productive than their pre-coronavirus baseline. We have seen a core combination of solutions emerge as best-in-class to help these virtual teams be most successful. Winners are being made by the directors of revenue operations, VPs of revenue operations, and chief revenue officers (CROs) who are fast adopters of what we like to call the essential revenue software stack.

In this stack, we see four necessary core capabilities, all critically interconnected. The four core capabilities are:

  1. Revenue enablement.
  2. Sales engagement.
  3. Conversational intelligence.
  4. Revenue operations.

These capabilities run on top of three foundational technologies that most growth-oriented companies already use — agreement management, CRM and communications. We will dive into these core capabilities, the emerging leaders in each and provide general guidance on how to get started.

Revenue enablement

#artificial-intelligence, #column, #communication-tools, #contract-management, #crm, #customer-experience, #customer-relationship-management, #customer-success, #entrepreneurship, #extra-crunch, #finance, #growth-and-monetization, #highspot, #machine-learning, #madrona-venture-group, #marketing, #sales, #startups, #tc

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Hearsay, maker of compliant tools for financial services, deepens ties with Salesforce

Financial services companies like banks and insurance tend to be heavily regulated. As such they require a special level of security and auditability. Hearsay, which makes compliant communications tools for these types of companies, announced a new partnership with Salesforce today, enabling smooth integration with Salesforce CRM and marketing automation tools.

The company also announced that Salesforce would be taking a minority stake in Hearsay, although company co-founder and CEO Clara Shih, did not provide any details on that part of the announcement.

Shih says the company created the social selling category when it launched 10 years ago. Today, it provides a set of tools like email, messaging and websites along with a governance layer to help financial services companies interact with customers in a compliant way. Their customers are primarily in banking, insurance, wealth management and mortgages.

She said that they realized if they could find a way to share the data they were collecting with the Hearsay toolset with CRM and marketing automation software in an automated way, it would make greater use of this information than it could on its own. To that end, they have created a set of APIs to enable that with some built-in connectors. The first one will be to connect Hearsay to Salesforce with plans to add other vendors in the future.

“It’s about being able to connect [data from Hearsay] with the CRM system of record, and then analyzing it across thousands, if not tens of thousands of advisors or bankers in a single company, to uncover best practices. You could then use that information like GPS driving directions that help every advisor behave in the moment and reach out in the moment like the very best advisor would,” Shih explained.

In practice, this means sharing the information with the customer data platform (CDP), the CRM and marketing automation tooling to deliver more intelligent targeting based on a richer body of information. So the advisor can use information gleaned from everything he or she knows about the client across the set of tools to deliver more meaningful personal message instead of a targeted ad or an email blast. As Shih points out, the ad might even make sense, but could be tone deaf depending on the circumstances.

“What we focus on is this human-client experience, and that can only be delivered in the last mile because it’s only with the advisor that many clients will confide in these very important life events and life decisions, and then conversely, it’s only in the last mile that the trusted advisor can deliver relationship advice,” she said.

She says what they are trying to do by combining streams of data about the customer is build loyalty in a way that pure technology solutions just aren’t capable of doing. As she says, nobody says they are switching banks because it has the best chat bot.

Hearsay was founded in 2009 and has raised $51 million, as well as whatever other money Salesforce will be adding to the mix with today’s investment. Other investors include Sequoia and NEA Associates. Its last raise was way back in 2013, a $30 million Series C.

#clara-shih, #cloud, #crm, #customer-data-platform, #enterprise, #funding, #hearsay-systems, #marketing-automation, #saas, #salesforce, #startups, #tc

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Layer gets $5.6M to make joint working on spreadsheets less hassle

Layer is not trying to replace Excel or Google Sheets. Instead the Berlin-based productivity startup wants to make life easier for those whose job entails wrangling massive spreadsheets and managing data inputs from across an organization — such as for budgeting, financial reporting or HR functions — by adding a granular control access layer on top.

The idea for a ‘SaaS to supercharge spreadsheets’ came to the co-founders as a result of their own experience of workflow process pain-points at the place they used to work, as is often the case with productivity startups.

“Constantin [Schünemann] and I met at Helpling, the marketplace for cleaning services, where I was the company’s CFO and I had to deal with spreadsheets on a daily level,” explains co-founder Moritz ten Eikelder. “There was one particular reference case for what we’re building here — the update of the company’s financial model and business case which was a 20MB Excel file with 30 different tabs, hundreds of roles of assumptions. It was a key steering tool for management and founders. It was also the basis for the financial reporting.

“On average it needed to be updated twice per month. And that required input by around about 20-25 people across the organization. So right then about 40 different country managers and various department heads. The problem was we could not share the entire file with [all the] people involved because it contained a lot of very sensitive information like salary data, cash burn, cash management etc.”

While sharing a Dropbox link to the file with the necessary individuals so they could update the sheet with their respective contributions would have risked breaking the master file. So instead he says they created individual templates and “carve outs” for different contributors. But this was still far from optimal from a productivity point of view. Hence feeling the workflow burn — and their own entrepreneurial itch.

“Once all the input was collected from the stakeholders you would start a very extensive and tedious copy paste exercise — where you would copy from these 25 difference sources and insert them data into your master file in order to create an up to date version,” says ten Eikelder, adding: “The pain points are pretty clear. It’s an extremely time consuming and tedious process… And it’s extremely prone to error.”

Enter Layer: A web app that’s billed as a productivity platform for spreadsheets which augments rather than replaces them — sitting atop Microsoft Excel and Google Sheets files and bringing in a range of granular controls.

The idea is to offer a one-stop shop for managing access and data flows around multi-stakeholder spreadsheets, enabling access down to individual cell level and aiding collaboration and overall productivity around these key documents by streamlining the process of making and receiving data input requests.

“You start off by uploading an Excel file to our web application. In that web app you can start to build workflows across a feature spectrum,” says Schünemann — noting, for example, that the web viewer allows users to drag the curser to highlight a range of cells they wish to share.

“You can do granular user provisioning on top of that where in the offline world you’d have to create manual carve outs or manual copies of that file to be able to shield away data for example,” he goes on. “On top of that you can then request input [via an email asking for a data submission].

“Your colleagues keep on working in their known environments and then once he has submitted input we’ve built something that is very similar to a track changes functionality in Word. So you as a master user could review all changes in the Layer app — regardless of whether they’re coming through Excel or Google Sheets… And then we’ve built a consolidation feature so that you don’t need to manually copy-paste from different spreadsheets into one. So with just a couple of clicks you can accept changes and they will be taken over into your master file.”

Layer’s initial sales focus is on the financial reporting function but the co-founders say they see this as a way of getting a toe in the door of their target mid-sized companies.

The team believes there are wider use-cases for the tool, given the ubiquity of spreadsheets as a business tool. Although, for now, their target users are organizations with between 150-250 employees so they’re not (yet) going after the enterprise market.

“We believe this is a pretty big [opportunity],” Schünemann tells TechCrunch. “Why because back in 2018 when we did our first research we initially started out with this one spreadsheet at Helpling but after talking to 50 executives, most of them from the finance world or from the financial function of different sized companies, it’s pretty clear that the spreadsheet dependency is still to this day extremely high. And that holds true for financial use cases — 87% of all budgeting globally is still done via spreadsheets and not big ERP systems… but it also goes beyond that. If you think about it spreadsheets are really the number one workflow platform still used to this day. It’s probably the most used user interface in any given company of a certain size.”

“Our current users we have, for example, a real estate company whereby the finance function is using Layer but also the project controller and also some parts of the HR team,” he adds. “And this is a similar pattern. You have similarly structured workflows on top of spreadsheets in almost all functions of a company. And the bigger you get, the more of them you have.

“We use the finance function as our wedge into a company — just because it’s where our domain experience lies. You also usually have a couple of selective use cases which tend to have these problems more because of the intersections between other departments… However sharing or collecting data in spreadsheets is used not only in finance functions.”

The 2019 founded startup’s productivity platform remains in private beta for now — and likely the rest of this year — but they’ve just nabbed €5 million (~$5.6M) in seed funding to get the product to market, with a launch pegged for Q1 2021.

The seed round is led by Index Ventures (Max Rimpel is lead there), and with participation from earlier backers btov Partners. Angel investors also joining the seed include Ajay Vashee (CFO at Dropbox); Carlos Gonzales-Cadenaz (COO of GoCardless), Felix Jahn (founder and CEO of McMakler), Matt Robinson (founder of GoCardless and Nested) and Max Tayenthal (co-founder and CFO of N26).

Commenting in a statement, Index’s Rimpel emphasized the utility the tool offers for “large distributed organizations”, saying: “Spreadsheets are one of the most successful UI’s ever created, but they’ve been built primarily for a single user, not for large distributed organisations with many teams and departments inputting data to a single document. Just as GitHub has helped developers contribute seamlessly to a single code base, Layer is now bringing sophisticated collaboration tools to the one billion spreadsheet users across the globe.”

On the competition front, Layer said it sees its product as complementary to tech giants Google and Microsoft, given the platform plugs directly into those spreadsheet standards. Whereas other productivity startups, such as the likes of Airtable (a database tool for non-coders) and Smartsheets (which bills itself as a “collaboration platform”) are taking a more direct swing at the giants by gunning to assimilate the spreadsheet function itself, at least for certain use cases.

“We never want to be a new Excel and we’re also not aiming to be a new Google Sheets,” says Schünemann, discussing the differences between Layer and Airtable et al. “What Github is to code we want to be to spreadsheets.”

Given it’s working with the prevailing spreadsheet standard it’s a productivity play which, should it prove successful, could see tech giants copying or cloning some of its features. Given enough scale, the startup could even end up as an acquisition target for a larger productivity focused giant wanting to enhance its own product offering. Though the team claims not to have entertained anything but the most passing thoughts of such an exit at this early stage of their business building journey.

“Right now we are really complementary to both big platforms [Google and Microsoft],” says Schünemann. “However it would be naive for us to think that one or the other feature that we build won’t make it onto the product roadmap of either Microsoft or Google. However our value proposition goes beyond just a single feature. So we really view ourselves as being complementary now and also in the future. Because we don’t push out Excel or Google Sheets from an organization. We augment both.”

“Our biggest competitor right now is probably the ‘we’ve always done it like that’ attitude in companies,” he adds, rolling out the standard early stage startup response when asked to name major obstacles. “Because any company has hacked their processes and tools to make it work for them. Some have built little macros. Some are using Jira or Atlassian tools for their project management. Some have hired people to manage their spreadsheet ensembles for them.”

On the acquisition point, Schünemann also has this to say: “A pre-requisite for any successful exit is building a successful company beforehand and I think we believe we are in a space where there are a couple of interesting exit routes to be taken. And Microsoft and Google are obviously candidates where there would be a very obvious fit but the list goes beyond that — all the file hosting tools like Dropbox or the big CRM tools, Salesforce, could also be interesting for them because it very much integrates into the heart of any organization… But we haven’t gone beyond that simple high level thought of who could acquire us at some point.” 

#apps, #atlassian, #berlin, #business-process-management, #cloud-applications, #collaboration-tools, #crm, #europe, #fundings-exits, #github, #gocardless, #google, #google-sheets, #layer, #matt-robinson, #microsoft, #microsoft-excel, #n26, #productivity, #project-management, #real-estate, #recent-funding, #salesforce, #software-as-a-service, #spreadsheet, #startups, #tc, #web-app, #web-application, #web-applications

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