Tag Archive for: IT

Xage introduces Zero Trust remote access cloud solution for hard-to-secure environments

When a hacker broke into the computer systems of the Oldsmar, Florida water supply last month, it sent up red flags across the operational tech world, whether that’s utilities or oil and gas pipelines. Xage, a security startup that has been building a solution to help protect these hard-to-secure operations, announced a Zero Trust remote access cloud solution today that could help prevent these kinds of attacks.

Duncan Greatwood, CEO at Xage, says flat out that if his company’s software was in place in Oldsmar, that hack wouldn’t have happened. Smaller operations like the one in Oldsmar tend to be one-person IT shops running older remote access software that’s vulnerable to hacking on a number of levels.

“It’s not difficult to compromise a virtual network computing (VNC) connection. It’s not difficult to compromise a stale account that’s been left on a jump box. What we started to do last year was deliver what we call a Zero Trust remote access solution to these kinds of customers,” Greatwood told me.

This involves controlling access device by device and person by person by determining who can do what based on them authenticating themselves and proving who they are. “It doesn’t rely on knowledge of a device password or a VPN zone password,” he explained.

The solution goes further with a secure traversal tunnel, which relies on a tamper-proof certificate to prevent hackers from getting from the operations side of the house — whether that’s a utility grid, water supply or oil and gas pipeline — to the IT side where they could then begin to muck about with the operational technology.

Xage also uses a distributed ledger as a core part of its solution to help protect identity policies, logs and other key information across the platform. “Having a distributed ledger means that rather than an attacker having to compromise just a single node, it would have to compromise a majority of the nodes simultaneously, and that’s very difficult [if not impossible] to do,” he said.

What’s more, the ledgers operate independently across locations in a hierarchy with a global ledger that acts as the ultimate rules enforcer. That means even if a location goes offline, the rules will be enforced by the main system whenever it reconnects.

They introduced an on-premise version of the Zero Trust remote access system last October, but with this kind of technology difficult to configure and maintain, some customers were looking for a managed solution like the one being introduced today. With the cloud solution, customers get a hosted solution accessible via a web browser with much faster deployment.

“What we’ve done with the cloud solution is made it really simple for people to adopt us by hosting the management software and the core Xage fabric nodes in this Xage cloud, and we’re really dramatically reducing that time to value for a remote access solution for OT,” Greatwood said.

You might be thinking that CISOs might not trust a cloud solution for these sensitive kinds of environments, and he admits that there is some caution in this market, even though they understand the benefits of moving to the cloud. To help ease these concerns, they can do a PoC in the cloud and there is a transfer tool to move back on prem easily if they are not comfortable with the cloud approach. So far he says that no early customers have chosen to do that, but the option is there.

Xage was founded in 2017 and has raised $16 million so far, according to Crunchbase data.


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SoundCloud adjusts revenue model for indie artists

We’ve known for a long time that music streaming royalties are fundamentally broken. As revenue has shifted away from sales of physical music, it’s become increasingly difficult for many independent artists to make a living off recorded music. But all of that has come to a head as the pandemic has stripped live music out of the equation entirely.

Some services have looked to buck the trend. The immensely popular Bandcamp Fridays are a notable example, offering all revenue to artists and labels one day a month. And now SoundCloud is looking to shake up how it pays its own independent creators — a move that could prove a nice boon for musicians on a service that’s lent its name to at least one popular musical subgenre.

The site will institute a new revenue structure at the beginning of next month. Soundcloud breaks down “Fan-powered” royalties thusly,

Fan-powered royalties are a more equitable and transparent way for independent artists who monetize directly with SoundCloud to get paid. The more fans listen on SoundCloud, and listen to your music, the more you get paid.

Under the old model, money from your dedicated fans goes into a giant pool that’s paid out to artists based on their share of total streams. That model mostly benefits mega stars.

Under fan-powered royalties, you get paid based on your fans’ actual listening habits. The more of their time your dedicated fans listen to your music, the more you get paid. This model benefits independent artists.

The service is available for independent artists who monetize their pages through select Pro accounts. There are a number of factors that go into the final payment (the first of which will arrive in May), including whether listeners have a subscription, the amount they’ve listened to one artist relative to others and ads they’ve listened to. The fine print is available here.

Musicians have become increasingly vocal about their inability to live off of streaming revenue as the pandemic has cut off major income sources over the past year. Spotify, in particular, has drawn harsh criticism as the company has spent hundreds of millions on podcast acquisitions while maintaining old revenue models for musicians.

Airbyte raises $5.2M for its open-source data integration platform

Airbyte, an open-source data integration platform, today announced that it has raised a $5.2 million seed funding round led by Accel. Other investors include Y Combinator, 8VC, Segment co-founder Calvin French-Owen, former Cloudera GM Charles Zedlewski, LiveRamp and Safegraph CEO Auren Hoffman, Datavant CEO Travis May and Alain Rossmann, the president of Machinify.

The company was co-founded by Michel Tricot, the former director of engineering and head of integrations at LiverRamp and RideOS, and John Lafleur, a serial entrepreneur who focuses on developer tools and B2B services. The last startup he co-founded was Anaxi.

Image Credits: Airbyte

In its early days, the team was actually working on a slightly different project that focused on data connectivity for marketing companies. The founders were accepted into Y Combinator and built out their application, but once the COVID pandemic hit, a lot of the companies that had placed early bets on Airbyte’s original project faced budget freezes and layoffs.

“At that point, we decided to go into deeper data integration and that’s how we started the Airbyte project and product as we know it today,” Tricot explained.

Today’s Airbyte is geared toward data engineering, without the specific industry focus of its early incarnation, but it offers both a graphical UI for building connectors, as well as APIs for developers to hook into.

As Tricot noted, a lot of companies start out by building their own data connectors — and that tends to work alright at first. But the real complexity is in maintaining them. “You have zero control over how they behave,” he noted. “So either they’re going to fail, or they’re going to change something. The cost of data integration is in the maintenance.”

Even for a company that specializes in building these connectors, the complexity will quickly outpace its ability to keep up, so the team decided on building Airbyte as an open-source company. The team also argues that while there are companies like Fivetran that focus on data integration, a lot of customers end up with use cases that aren’t supported by Airbyte’s closed-source competitors and that they had to build themselves from the ground up.

“Our mission with Airbyte is really to become the standard to replicate data,” Lafleur said. “To do that, we will open source every feature that addresses the need of the individual contributor, so all the connectors.” He also noted that Airbyte will exclusively focus on its open-source tools until it raises a Series A round — likely early next year.

To monetize its service, Airbyte plans to use an open-core model, where all of the features that address the needs of a company (think enterprise features like data quality, privacy, user management, etc.) will be licensed. The team is also looking at white-labeling its containerized connectors to others.

Currently, about 600 companies use Airbyte’s connectors — up from 250 just a month ago. Its users include the likes of Safegraph, Dribbble, Mercato, GraniteRock, Agridigital and Cart.com.

The company plans to use the new funding to double its team from about 12 people to 25 by the end of the year. Right now, the company’s focus is on establishing its user base, and then it plans to start monetizing that — and raise more funding — next year.


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Axonius nabs $100M at a $1.2B valuation for its asset management cybersecurity platform

Remote work has become the norm for many businesses in the last year, and today a startup that has built a cybersecurity platform to help manage all the devices connecting to organizations’ wide-ranging networks — while also providing a way for those organizations to take advantage of all the best that the quite fragmented security market has to offer — is announcing a major round of funding and a big boost to its valuation after seeing its annual recurring revenues grow ten-fold over 15 months.

Axonius, which lets organizations manage and track computing-based assets that are connecting to their networks — and then plug that data into some 300 different cybersecurity tools to analyse it — has closed a round of $100 million, a Series D that values the company at over $1 billion ($1.2 billion, to be exact).

“We like to call ourselves the Toyota Camry of cybersecurity,” Axonius co-founder and CEO Dean Sysman told me in an interview last year. “It’s nothing exotic in a world of cutting-edge AI and advanced tech. However it’s a fundamental thing that people are struggling with, and it is what everyone needs. Just like the Camry.” It will be using the funding to continue scaling the company, it said, amid surging demand, with ARR growing to $10 million last year.

This latest round — led by Stripes, with past investors Bessemer Venture Partners (BVP), OpenView, Lightspeed and Vertex also participating — represents a huge jump for the startup.

Not only is this the company’s biggest round to date, but last year’s $58 million Series C — which closed just as the COVID-19 pandemic was kicking off and remote working, to better enforce social distancing, was starting to take off with it — valued the company at just over $302 million, according to PitchBook data. Axonius has now raised around $195 million in funding.

Last week BVP announced a new pair of funds totaling $3.3 billion, with one dedicated to later-stage growth rounds: This indicates that this money is already getting put to work. Amit Karp, the BVP partner who sits on Axonius’ board, describes the startup as one of the “fastest-growing companies in BVP history.”

When I last covered Axonius, one of the details that really struck me is that its platform is especially useful in today’s market, not just because of its focus on identifying devices on networks may well — and today genuinely do — extend outside of a traditional “office”, but also because of how it views the cybersecurity industry.

It’s a very fragmented market today, with hundreds of companies all providing useful tools and techniques to safeguard against one threat or another. Axonius essentially accepts that fragmentation and works within it, and it has its job cut out for it. Last year when I covered the company’s funding, it integrated with and ran network assets through 100 different cybersecurity tools; now that number is 300.

The crux of what Axonius provides starts with a very basic but critical issue, which is being able to identify how many devices are actually on a network, where they are and what they do there. The idea for the company came when Dean Sysman, the CEO who co-founded Axonius with Ofri Shur and Avidor Bartov, was previously working at another firm, the Integrity Project (now a part of Mellanox, which means now it’s a part of Nvidia).

“Every CIO I met I would ask, ‘do you know how many devices you have on your network?’ And the answer was either ‘I don’t know,’ or a big range, which is just another way of saying, ‘I don’t know,’ ” Sysman told me last year. “It’s not because they’re not doing their jobs but because it’s just a tough problem.”

He said part of the reason is because IP addresses are not precise enough, and de-duplicating and correlating numbers is a gargantuan task, especially in the current climate of people using not just a multitude of work-provided devices, but a number of their own.

Axonius’s algorithms — “a deterministic algorithm that knows and builds a unique set of identifiers that can be based on anything, including timestamp, or cloud information. We try to use every piece of data we can,” said Sysman — are built to bypass some of this.

The resulting information then can be used across a number of other pieces of security software to search for inconsistencies in use (bringing in the behavioural aspect of cybersecurity) or other indicators of malicious activity.

The fact of that platform play — and how it can grow with both the range of devices that are added, as well as technology built to counteract increasingly sophisticated threats — is what attracted investors. 

“It’s always exciting to invest in fast-growing, innovative, category-creating companies, but what Axonius has accomplished in such a short time is remarkable,” said Stripes founding partner Ken Fox in a statement. “With its commitment to solving a fundamental challenge with a simple, powerful platform that collects and correlates data from hundreds of products its customers already use, Axonius has built one of the most beloved products in security. We look forward to partnering with the Axonius team as they continue to invest in technical innovation and grow to meet global demand in 2021 and beyond.” Fox will join the Axonius board of directors with this round.

It seems that some of this news leaked out over the weekend. A spokesperson has confirmed it all to us but the “official” announcement will be coming out later today.

Martech company Zeta Global raises $222.5M in debt

Zeta Global, the marketing technology company founded by David A. Steinberg and former Apple CEO John Sculley, is announcing an additional $222.5 million in new debt financing.

The company has gone down the debt route before — a Series F raised in 2017 combined $115 million funding with $25 million in debt. BofA Securities served as lead arranger and bookrunner for the new financing, with participation from Barclays, Credit Suisse and Morgan Stanley Senior Funding.

“For this round, we were able to both refinance our debt and add in a large amount of capacity for current operations and future initiatives,” Steinberg (Zeta’s CEO) told me via email. “We were able to work with our syndicate to capture a low interest rate and take advantage of the strong credit markets.”

The company emphasizes its data-driven approach to marketing, combining companies’ first-party data with artificial intelligence and what it says are more than 2.4 billion customer identifiers. Steinberg said this approach has only become more crucial, with 2020 delivering “a five-year acceleration” as brands face the challenge of “digitally transforming their business structure to be data-centric.”

“Zeta’s capabilities are helping marketers engage customers across the entire digital ecosystem more intelligently and efficiently, with individualized messages, offers, and content by way of our identity-based data and predictive AI,” Steinberg continued. “Our challenge is to continue to keep up with our customers’ needs and maintain our competitive advantage around data and AI.”

The company’s funding announcement notes that previous loans have been used to finance acquisitions and integrations, including commenting platform Disqus and machine learning-powered marketing platform Boomtrain. Asked whether this new debt will also be used for acquisitions, Steinberg said the company continues to “organically innovate,” with a focus on its customer data platform and connected TV capabilities.


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Twilio to become minority owner in Syniverse Technologies with $750M investment

Syniverse Technologies, a company that helps mobile providers move communications across public and private networks, announced an extensive partnership with Twilio this morning. Under the agreement, Twilio is investing up to $750 million to become a minority owner in the company.

The idea behind the partnership is to combine Twilio’s API communications expertise with Syniverse’s mobile carrier contacts to create this end-to-end communications system. Twilio’s strength has always been its ability to deliver communications like texts without having a carrier relationship. This deal gives them access to that side of the equation.

James Attwood, executive chairman at Syniverse, certainly saw the value of the two companies working together. “The partnership will provide Syniverse access to Twilio’s extensive enterprise and API services expertise, creating opportunities to continue to build on Syniverse’s highly innovative product portfolio that helps mobile network operators and enterprises make communications better for their customers,” Attwood said in a statement.

Today’s deal comes on the heels of the company’s $3.2 billion acquisition of Segment at the end of last year as it continues to look for ways to expand its markets. Will Townsend, an analyst at Moor Insight & Strategy who covers the network and carrier markets, sees this deal giving Twilio access to a broader set of technologies.

“Twilio [gets] access to Syniverse’s significant capabilities in massive industrial IoT and private 4G LTE and 5G cellular networking. Both are poised to ramp significantly given newfound enterprise access to licensed spectrum via recent C-Band and CBRS auctions,” Townsend told me. He believes this will help Twilio reach parts of the enterprise not connected by Wi-FI or where the customers are dealing with “a mishmash of solutions that don’t scale or propagate well.”

As it turns out, it’s not a coincidence the two companies are coming together like this. In fact, Twilio has been a Syniverse customer for some time, according to Chee Chew, chief product officer at Twilio.

It’s a case of an old-school company like Syniverse, which was founded in 1987, combining forces with a more modern approach to communications like Twilio, which provides developers with APIs to deliver communications services inside applications with just a couple of lines of code.

The Wall Street Journal, which broke the news of this deal, is also reporting the company could go public via SPAC at a value of between $2 and $3 billion some time later this year. That would suggest that it has not gained much value since the 2010 deal.

Holger Mueller, an analyst at Constellation Research, says the SPAC provides an interesting additional component to the deal. “The high-flying stock market creates all kind of new chickens, one of them being a SPAC, and that’s the financial opportunity that Twilio is likely pursuing with the investment into Syniverse. The more immediate benefit is for Twilio to use the messaging vendor for its services. Call it a partnership with investment upside,” Mueller said.

According to Syniverse, “the company is one of the largest private IP Packet Exchange (IPX) providers in the world and offers a range of networking solutions, excelling in scenarios where seamless connections must cross over networks — either across multiple private networks or between public and private networks.”

The company is currently owned by the Carlyle Group private equity firm, which bought it in 2010 for $2.6 billion. Twilio launched in 2008 and raised over $236 million before going public in 2016 at $15 per share. The stock was up 3.82% in early trading, suggesting that Wall Street approves of the deal.


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Google updates Workspace

Google Workspace, the company’s productivity platform you’ll forever refer to as G Suite (or even “Google Docs”), is launching a large update today that touches everything from your calendar to Google Meet and how you can use Workspace with Google Assistant.

Image Credits: Google

Indeed, the highlight here is probably that you can now use Assistant in combination with Google Workspace, allowing you to check your work calendar or send a message to your colleagues. Until now, this feature was available in beta and even after it goes live, your company’s admins will have to turn on the “Search and Assistant” service. And this is a bit of a slow rollout, too, with this capability now being generally available on mobile but still in beta for smart speakers and displays like Google’s own Nest Hub. Still, it’s been a long time coming, given that Google promised these features a very long time ago now.

The other new feature that will directly influence your day-to-day work is support for recurring out-of-office entries and segmentable working hours, as well as a new event type, Focus Time, to help you minimize distractions. Focus Time is a bit cleverer than the three-hour blocks of time you may block off on your calendar anyway in that it limits notifications during those event windows. Google is also launching a new analytics feature that tells you how much time you spend (waste) in meetings. This isn’t quite as fully featured (and potentially creepy) as Microsoft’s Productivity Score, since it only displays how much time you spend in meetings, but it’s a nice overview of how you spend your days (though you know that already). None of this data is shared with your managers.

For when you go back to an office, Google is also adding location indicators to Workspace so you can share when you will be working from there and when you’ll be working from home.

And talking about meetings, since most of these remain online for the time being, Google is adding a few new features that now allow those of you who use their Google Nest Hub Max to host meetings at home and to set up a laptop as their own second-screen experience. What’s far more important, though, is that when you join a meeting on mobile, Google will now implement a picture-in-picture mode so you can be in that Meet meeting on your phone and still browse the web, Gmail and get important work done during that brainstorming session.

Mobile support for background replace is also coming, as well as the addition of Q&As and polls on mobile. Currently, you can only blur your background on mobile.

Image Credits: Google

For frontline workers, Google is adding something it calls Google Workspace Frontline, with new features for this group of users, and it is also making it easier for users to build custom AppSheet apps from Google Sheets and Drive, “so that frontline workers can digitize and streamline their work, whether it’s collecting data in the field, reporting safety risks, or managing customer requests.”

Storm Ventures promotes Pascale Diaine and Frederik Groce to partners

Storm Ventures, a venture firm that focuses on early stage B2B enterprise startups, announced this week that it has promoted Pascale Diaine and Frederik Groce to partners at the firm.

The two new partners have worked their way up over the last several years. Groce joined Storm in 2016 and has invested in enterprise SaaS startups like Workato, Splashtop, NextRequest and Camino. Diaine joined a year later and has invested in firms like Sendoso, German Bionic, InEvent and Talkdesk.

Groce, who is also a founder at BLCK VC and helped organize the Black Venture Institute to create a network of Black investors, says that these promotions show that venture needs to be more diverse, and Storm recognizes this.  “If you think about the way our team works, that’s the way I think venture teams will need to work to be able to be successful in the next 40 years. And so the hope is that over time everyone does this and we’re just early to it,” Groce told me.

Unfortunately, right now that’s not the case, not even close. According to research by Crunchbase, just 12% of venture capitalists are women and two-thirds of firms don’t have any female investors. Meanwhile, only about 4% of ventures investors are Black.

Those numbers have an impact on the number of Black and female founders because as Groce points out the lack of founders in underrepresented groups is in part a networking problem. “In a business that’s predicated on networks if you don’t have diversity in the network, or the teams that are driving those networks, you just can’t make sure you’re seeing great talent across all ecosystems,” he said.

Diaine, who is French and started her career by founding Orange Fab, the corporate accelerator of the European Telco Orange, has brought her international business background to Storm where they helped her tune that experience to an investor focus and supported her as she learned the nuances of the investment side of the business.

“I don’t come from the VC world. I come from the innovative corporate world. So they had to train me and spend time getting me up to date. And they did spend so much time making sure I understood everything to make sure I got to this level,” she said.

Both partners bring their own unique views looking beyond Silicon Valley for investment opportunities. Diaine’s investment include a German, Brazilian and Portuguese company, while Groce’s investments include companies in Chicago, Atlanta and Seattle.

The two partners have also developed an algorithm to help find investments based on a number of online signals, something that has become more important during the pandemic when they couldn’t network in person.

“Frederik and I have been working on [an algorithm to find] what are the signals that you can identify online that will tell you this company’s doing well, this company growing.You have to have a nice set of startup search tracking [signals], but what do you track if you can’t just get the revenue in real time, which is impossible. So we’ve developed an algorithm that helps us identify some of these signals and create alerts on which startups we should pay attention to,” Diaine explained.

She says this data-driven approach should be helpful and augment their in-person efforts even after the pandemic is over and increase their overall efficiency in finding and tracking companies in their portfolios.

 

Atlassian is acquiring Chartio to bring data visualization to the platform

The Atlassian platform is chock full of data about how a company operates and communicates. Atlassian launched a machine learning layer, which relies on data on the platform with the addition of Atlassian Smarts last fall. Today the company announced it was acquiring Chartio to add a new data analysis and visualization component to the Atlassian family of products. The companies did not share a purchase price.

The company plans to incorporate Chartio technology across the platform, starting with Jira. Before being acquired, Chartio has generated its share of data, reporting that 280,000 users have created 10.5 million charts for 540,000 dashboards pulled from over 100,000 data sources.

Atlassian sees Chartio as way to bring that data visualization component to the platform and really take advantage of the data locked inside its products. “Atlassian products are home to a treasure trove of data, and our goal is to unleash the power of this data so our customers can go beyond out-of-the-box reports and truly customize analytics to meet the needs of their organization,” Zoe Ghani, head of product experience at platform at Atlassian wrote in a blog post announcing the deal.

Chartio co-founder and CEO Dave Fowler wrote in a blog post on his company website that the two companies started discussing a deal late last year, which culminated in today’s announcement. As is often the case in these deals, he is arguing that his company will be better off as part of large organization like Atlassian with its vast resources than it would have been by remaining stand-alone.

“While we’ve been proudly independent for years, the opportunity to team up our technology with Atlassian’s platform and massive reach was incredibly compelling. Their product-led go to market, customer focus and educational marketing have always been aspirational for us,” Fowler wrote.

As for Chartio customers unfortunately, according to a notice on the company website, the product is going to be going away next year, but customers will have plenty of time to export the data to another tool. The notice includes a link to instructions on how to do this.

Chartio was founded in 2010, and participated in the Y Combinator Summer 2010 cohort. It raised a modest $8.03 million along the way, according to Pitchbook data.

EC roundup: BNPL startups, growth marketing tips, solid state battery market map, more

When I needed a new sofa several months ago, I was pleased to find a buy now, pay later (BNPL) option during the checkout process. I had prepared myself to make a major financial outlay, but the service fees were well worth the convenience of deferring the entire payment.

Coincidentally, I was siting on said sofa this morning and considering that transaction when Alex Wilhelm submitted a column that compared recent earnings for three BNPL providers: Afterpay, Affirm and Klarna.

I asked him why he decided to dig into the sector with such gusto.


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“What struck me about the concept was that we had just seen earnings from Affirm,” he said. “So we had three BNPL players with known earnings, and I had just covered a startup funding round in the space.”

“Toss in some obvious audience interest, and it was an easy choice to write the piece. Now the question is whether I did a good job and people find value in it.”

Thanks very much for reading Extra Crunch this week! Have a great weekend.

Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist

As BNPL startups raise, a look at Klarna, Affirm and Afterpay earnings

Pilot CEO Waseem Daher tears down his company’s $60M Series C pitch deck

Smashing brick work with hammer

Image Credits: Colin Hawkins (opens in a new window) / Getty Images

I avoid running Extra Crunch stories that focus on best practices; you can find those anywhere. Instead, we look for “here’s what worked for me” articles that give readers actionable insights.

That’s a much better use of your time and ours.

With that ethos in mind, Lucas Matney interviewed Pilot CEO Waseem Daher to deconstruct the pitch deck that helped his company land a $60M Series C round.

“If the Series A was about, ‘Do you have the right ingredients to make this work?’ then the Series B is about, ‘Is this actually working?’” Daher tells TechCrunch.

“And then the Series C is more, ‘Well, show me that the core business is really working and that you have unlocked real drivers to allow the business to continue growing.’”

Can solid state batteries power up for the next generation of EVs?

market-maps-battery-alt

Image Credits: Bryce Durbin

A global survey of automobile owners found three hurdles to overcome before consumers will widely embrace electric vehicles:

  • 30-minute charging time
  • 300-mile range
  • $36,000 maximum cost

“Theoretically, solid state batteries (SSB) could deliver all three,” but for now, lithium-ion batteries are the go-to for most EVs (along with laptops and phones).

In our latest market map, we’ve plotted the new and established players in the SSB sector and listed many of the investors who are backing them.

Although SSBs are years away from mass production, “we are on the cusp of some pretty incredible discoveries using major improvements in computational science and machine learning algorithms to accelerate that process,” says SSB startup founder Amy Prieto.

 

Dear Sophie: Which immigration options are the fastest?

lone figure at entrance to maze hedge that has an American flag at the center

Image Credits: Bryce Durbin/TechCrunch

Dear Sophie:

Help! Our startup needs to hire 50 engineers in artificial intelligence and related fields ASAP. Which visa and green card options are the quickest to get for top immigrant engineers?

And will Biden’s new immigration bill help us?

— Mesmerized in Menlo Park

 

Why F5 spent $2.2B on 3 companies to focus on cloud native applications

Dark servers data center room with computers and storage systems

Image Credits: Jasmin Merdan / Getty Images

Founded in 1996, F5 has repositioned itself in the networking market several times in its history. In the last two years, however, it spent $2.2 billion to acquire Shape Security, Volterra and NGINX.

“As large organizations age, they often need to pivot to stay relevant, and I wanted to explore one of these transformational shifts,” said enterprise reporter Ron Miller.

“I spoke to the CEO of F5 to find out the strategy behind his company’s pivot and how he leveraged three acquisitions to push his organization in a new direction.”

 

DigitalOcean’s IPO filing shows a two-class cloud market

Cloud online storage technology concept. Big data data information exchange available. Magnifying glass with analytics data

Image Credits: Who_I_am (opens in a new window) / Getty Images

Cloud hosting company DigitalOcean filed to go public this week, so Ron Miller and Alex Wilhelm unpacked its financials.

“AWS and Microsoft Azure will not be losing too much sleep worrying about DigitalOcean, but it is not trying to compete head-on with them across the full spectrum of cloud infrastructure services,” said John Dinsdale, chief analyst and research director at Synergy Research.

 

Oscar Health’s initial IPO price is so high, it makes me want to swear

I asked Alex Wilhelm to dial back the profanity he used to describe Oscar Health’s proposed valuation, but perhaps I was too conservative.

In March 2018, the insurtech unicorn was valued at around $3.2 billion. Today, with the company aiming to debut at $32 to $34 per share, its fully diluted valuation is closer to $7.7 billion.

“The clear takeaway from the first Oscar Health IPO pricing interval is that public investors have lost their minds,” says Alex.

His advice for companies considering an IPO? “Go public now.”

 

If Coinbase is worth $100 billion, what’s a fair valuation for Stripe?

Last week, Alex wrote about how cryptocurrency trading platform Coinbase was being valued at $77 billion in the private markets.

As of Monday, “it’s now $100 billion, per Axios’ reporting.”

He reviewed Coinbase’s performance from 2019 through the end of Q3 2020 “to decide whether Coinbase at $100 billion makes no sense, a little sense or perfect sense.”

 

Winning enterprise sales teams know how to persuade the Chief Objection Officer

woman hand stop sign on brick wall background

Image Credits: Alla Aramyan (opens in a new window) / Getty Images

A skilled software sales team devotes a lot of resources to pinpointing potential customers.

Poring through LinkedIn and reviewing past speaker lists at industry conferences are good places to find decision-makers, for example.

Despite this detective work, GGV Capital investor Oren Yunger says sales teams still need to identify the deal-blockers who can spike a deal with a single email.

“I call this person the Chief Objection Officer.

 

3 strategies for elevating brand authority in 2021

Young woman standing on top of tall green bar graph against white background

Image Credits: Klaus Vedfelt / Getty Images

Every startup wants to raise its profile, but for many early-stage companies, marketing budgets are too small to make a meaningful difference.

Providing real value through content is an excellent way to build authority in the short and long term,” says Amanda Milligan, marketing director at growth agency Fractl.

 

RIBS: The messaging framework for every company and product

Grilled pork ribs with barbecue sauce on wooden background

Image Credits: luchezar (opens in a new window) / Getty Images

The most effective marketing uses good storytelling, not persuasion.

According to Caryn Marooney, general partner at Coatue Management, every compelling story is relevant, inevitable, believable and simple.

“Behind most successful companies is a story that checks every one of those boxes,” says Marooney, but “this is a central challenge for every startup.”

 

Ironclad’s Jason Boehmig: The objective of pricing is to become less wrong over time

On a recent episode of Extra Crunch Live, Ironclad founder and CEO Jason Boehmig and Accel partner Steve Loughlin discussed the pitch that brought them together almost four years ago.

Since that $8 million Series A, Loughlin joined Ironclad’s board. “Both agree that the work they put in up front had paid off” when it comes to how well they work together, says Jordan Crook.

“We’ve always been up front about the fact that we consider the board a part of the company,” said Boehmig.


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