Jun
30
2020
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Apple device management company Jamf files S-1 as it prepares to go public

Jamf, the Apple device management company, filed to go public today. Jamf might not be a household name, but the Minnesota company has been around since 2002 helping companies manage their Apple equipment.

In the early days, that was Apple computers. Later it expanded to also manage iPhones and iPads. The company launched at a time when most IT pros had few choices for managing Macs in a business setting.

Jamf changed that, and as Macs and other Apple devices grew in popularity inside organizations in the 2010s, the company’s offerings grew in demand. Notably, over the years Apple has helped Jamf and its rivals considerably, by building more sophisticated tooling at the operating system level to help manage Macs and other Apple devices inside organizations.

Jamf raised approximately $50 million of disclosed funding before being acquired by Vista Equity Partners in 2017 for $733.8 million, according to the S-1 filing. Today, the company kicks off the high-profile portion of its journey towards going public.

Apple device management takes center stage

In a case of interesting timing, Jamf is filing to go public less than a week after Apple bought mobile device management startup Fleetsmith. At the time, Apple indicated that it would continue to partner with Jamf as before, but with its own growing set of internal tooling, which could at some point begin to compete more rigorously with the market leader.

Other companies in the space managing Apple devices besides Jamf and Fleetsmith include Addigy and Kandji. Other more general offerings in the mobile device management (MDM) space include MobileIron and VMware Airwatch among others.

Vista is a private equity shop with a specific thesis around buying out SaaS and other enterprise companies, growing them, and then exiting them onto the public markets or getting them acquired by strategic buyers. Examples include Ping Identity, which the firm bought in 2016 before taking it public last year, and Marketo, which Vista bought in 2016 for $1.8 billion and sold to Adobe last year for $4.8 billion, turning a tidy profit.

Inside the machine

Now that we know where Jamf sits in the market, let’s talk about it from a purely financial perspective.

Jamf is a modern software company, meaning that it sells its digital services on a recurring basis. In the first quarter of 2020, for example, about 83% of its revenue came from subscription software. The rest was generated by services and software licenses.

Now that we know what type of company Jamf is, let’s explore its growth, profitability and cash generation. Once we understand those facets of its results, we’ll be able to understand what it might be worth and if its IPO appears to be on solid footing.

We’ll start with growth. In 2018 Jamf recorded $146.6 million in revenue, which grew to $204.0 million in 2019. That works out to an annual growth rate of 39.2%, a more than reasonable pace of growth for a company going public. It’s not super quick, mind, but it’s not slow either. More recently, the company grew 36.9% from $44.1 million in Q1 2019 to $60.4 million in revenue in Q1 2020. That’s a bit slower, but not too much slower.

Turning to profitability, we need to start with the company’s gross margins. Then we’ll talk about its net margins. And, finally, adjusted profits.

Gross margins help us understand how valuable a company’s revenue is. The higher the gross margins, the better. SaaS companies like Jamf tend to have gross margins of 70% or above. In Jamf’s own case, it posted gross margins of 75.1% in Q1 2020, and 72.5% in 2019. Jamf’s gross margins sit comfortably in the realm of SaaS results, and perhaps even more importantly are improving over time.

Getting behind the curtain

When all its expenses are accounted for, the picture is less rosy, and Jamf is unprofitable. The company’s net losses for 2018 and 2019 were similar, totalling $36.3 million and $32.6 million, respectively. Jamf’s net loss improved a little in Q1, falling from $9.0 million in 2019 to $8.3 million this year.

The company remains weighed down by debt, however, which cost it nearly $5 million in Q1 2020, and $21.4 million for all of 2019. According to the S-1, Jamf is sporting a debt-to-equity ratio of roughly 0.8, which may be a bit higher than your average public SaaS company, and is almost certainly a function of the company’s buyout by a private equity firm.

But the company’s adjusted profit metrics strip out debt costs, and under the heavily massaged adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) metric, Jamf’s history is only one of rising profitability. From $6.6 million in 2018 to $20.8 million in 2019, and from $4.3 million in Q1 2019 to $5.6 million in Q1 2020. with close to 10% adjusted operating profit margins through YE 2019.

It will be interesting to see how the company’s margins will be affected by COVID, with financials during the period still left blank in this initial version of the S-1. The Enterprise market in general has been reasonably resilient to the recent economic shock, and device management may actually perform above expectations given the growing push for remote work.

Completing the picture

Something notable about Jamf is that it has positive cash generation, even if in Q1 it tends to consume cash that is made up for in other quarters. In 2019, the firm posted $11.2 million in operational cash flow. That’s a good result, and better than 2018’s $9.4 million of operating cash generation. (The company’s investing cash flows have often run negative due to Jamf acquiring other companies, like ZuluDesk and Digita.)

With Jamf, we have a SaaS company that is growing reasonably well, has solid, improving margins, non-terrifying losses, growing adjusted profits, and what looks like a reasonable cash flow perspective. But Jamf is cash poor, with just $22.7 million in cash and equivalents as of the end of Q1 2020 — some months ago now. At that time, the firm also had debts of $201.6 million.

Given the company’s worth, that debt figure is not terrifying. But the company’s thin cash balance makes it a good IPO candidate; going public will raise a chunk of change for the company, giving it more operating latitude and also possibly a chance to lower its debt load. Indeed Jamf notes that it intends to use part of its IPO raise to “to repay outstanding borrowings under our term loan facility…” Paying back debt at IPO is common in private equity buyouts.

So what?

Jamf’s march to the public markets adds its name to a growing list of companies. The market is already preparing to ingest Lemonade and Accolade this week, and there are rumors of more SaaS companies in the wings, just waiting to go public.

There’s a reasonable chance that as COVID-19 continues to run roughshod over the United States, the public markets eventually lose some momentum. But that isn’t stopping companies like Jamf from rolling the dice and taking a chance going public.

Jun
26
2020
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Fleetsmith customers unhappy with loss of third-party app support after Apple acquisition

When Apple confirmed it had acquired Fleetsmith, a mobile device management vendor, on Wednesday, it seemed like a straightforward purchase, but Fleetsmith customers quickly learned a key piece of functionality had stopped working  — and many weren’t happy about it.

Apple systems administrators began complaining on social media on the morning of the acquisition announcement that the company was no longer allowing them to connect to third-party applications.

“Primarily Fleetsmith maintained a third-party app catalog, so you could deploy things like Chrome or Zoom to your Macs, and Fleetsmith would maintain security updates for those apps. This was the main reason we purchased Fleetsmith,” a Fleetsmith customer told TechCrunch.

The customer added that the company described this functionality as a major feature in a company blog post:

For apps like Chrome, which are managed through the Fleetsmith Catalog, we handle all aspects of testing, packaging, triage, and deployment automatically. Whenever there’s an update (including security patches), we quickly add them to the Catalog so that our customers can enforce the latest version. In this case, we had the Chrome 78.0.3904.87 patch up within a couple hours of the update dropping.

As one system administrator pointed out, being able to manage Chrome browser security in an automated way was a huge part of this, and that was also removed along with third party app support.

As it turned out, Apple had made it clear that it was discontinuing this feature in an email to Fleetsmith customers on the day of the transition. The email included links to several help articles that were supposed to assist admins with the transition. (The email is included in full at the end of this article.)

The general consensus among admins that I spoke to was that these articles were not terribly helpful. While they described a way to fix the issues, they said that Apple has turned what was a highly automated experience into a highly manual one, effectively eliminating the speed and ease of use advantage of having the update feature in the first place.

Apple did confirm that it had responded to some help ticket requests after the changes this week, saying that it would soon restore some configurations for Catalog apps, and was working with impacted customers as needed. The company did not make clear, however, why they removed this functionality in the first place.

Fleetsmith offered a couple of key features that appealed to Mac system administrators. For starters, it let them set up new Macs automatically out of the box. This allows them to ship a new Mac or other Apple device, and as soon as the employee powers it up and connects to Wi-Fi, it connects to Fleetsmith, where systems administrators can track usage and updates. In addition, it allowed System Administrators to enforce Apple security and OS updates on company devices.

What’s more, it could also do the same thing with third-party applications like Google Chrome, Zoom or many others. When these companies pushed a new update, system administrators could make sure all users had the most recent version running on their machines. This is the key functionality that was removed this week.

It’s not clear why Apple chose to strip out these features outlined in the email to customers, but it seems likely that most of this functionality isn’t coming back, other than restoring some configurations for Catalog apps.

Email that went out to Fleetsmith customers the day of the acquisition outlining the changes:

 

Attempts to reach Fleetsmith founders for comment were unsuccessful. Should that change we will update the article.

Jun
24
2020
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Apple has acquired Fleetsmith, a startup that helps IT manage Apple devices remotely

At a time when IT has to help employees set up and manage devices remotely, a service that simplifies those processes could certainly come in handy. Apple recognized that, and acquired Fleetsmith today, a startup that helps companies do precisely that with Apple devices.

While Apple didn’t publicize the acquisition, it has confirmed the deal with TechCrunch, while Fleetsmith announced the deal in a company blog post. Neither company was sharing the purchase price.

The startup has built technology that takes advantage of Apple’s Device Enrollment Program, allowing IT departments to bring devices online as soon as the employee takes it out of the box and powers it up.

At the time of its $30 million Series B funding last year, CEO Zack Blum explained the company’s core value proposition: “From a customer perspective, they can ship devices directly to their employees. The employee unwraps it, connects to Wi-Fi and the device is enrolled automatically in Fleetsmith,” Blum explained at that time.

Over time, the company has layered on other useful pieces beyond automating device registration, like updating devices automatically with OS and security updates, while letting IT see a dashboard of the status of all devices under management, all in a pretty slick interface.

While Apple will in all likelihood continue to work with Jamf, the leader in the Apple device management space, this acquisition gives the company a remote management option at a time when it’s essential with so many employees working from home.

Fleetsmith, which has raised more than $40 million from investors, like Menlo Ventures, Tiger Global Management, Upfront Ventures and Harrison Metal, will continue to sell the product through the company website, according to the blog post.

The founders put a happy face on the deal, as founders tend to do. “We’re thrilled to join Apple. Our shared values of putting the customer at the center of everything we do without sacrificing privacy and security, means we can truly meet our mission, delivering Fleetsmith to businesses and institutions of all sizes, around the world,” they wrote.

May
20
2020
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Identity management startup Truework raises $30M to help you verify your work history

As organizations look for safe and efficient ways of running their services in the new global paradigm of increased social distancing, a startup that has built a platform to help people verify their work details in a secure way is announcing a round of growth funding.

Truework, which provides a way for banks, apartment-rental agencies, and others to check the employment details of an applicant in a quick and secure manner online, has raised $30 million, money that CEO and co-founder Ryan Sandler said in an interview that it would use both grow its existing business, as well to explore adding more details — both via its own service and via third-party partnerships — to the identity information that it shares.

The Series B is being led by Activant Capital — a VC that focuses on B2B2C startups — with participation also from Sequoia Capital and Khosla Ventures, as well as a number of high profile execs and entrepreneurs — Jeff Weiner (LinkedIn); Tom Gonser (Docusign); William Hockey (Plaid); and Daniel Yanisse (Checkr) among them.

The LinkedIn connection is an interesting one. Both Sandler and co-founder Victor Kabdebon were engineers at LinkedIn working on profile and improving the kind of data that LinkedIn sources on its users (the third co-founder, Ethan Winchell, previously worked elsewhere), and while Sandler tells me that the idea for Truework came to them after both left the company, he sees LinkedIn “as a potential partner here,” so watch this space.

The problem that Truework is aiming to solve is the very clunky, and often insecure, nature of how organizations typically verify an individual’s employment information. Details about salary and where you work, and the job you do, are typically essential for larger financial transactions, whether it’s securing a mortgage or another financing loan, or renting an apartment, or for others who might need to verify that information for other purposes, such as staffing agencies.

Typically that kind of information gathering is time-consuming both to reach out to get and to confirm (Sandler cites statistics that say on average an HR person spends over 1,000 hours annually answering questions like these). And some of the systems that have been put in place to do that work — specifically consumer reporting agencies — have been proven not be as watertight in their security as you would hope.

“Your data is flowing around lots of third party platforms,” Sandler said. “You’re releasing a lot of information about yourself and you don’t know where the data is going and if it’s even accurate.”

Truework’s solution is based around a platform, and now an API, that a company buys into. In turn, it gives its employees the ability to consent to using it. If the employee agrees, Truework sources a worker’s place of employment and salary details. Then when a third party wants to verify that information for the person in question, it uses Truework to do so, rather than contacting the company directly.

Then, when those queries come in, Truework contacts the individual with an email or text about the inquiry, so that he/she can okay (or reject) the request. Truework’s Sandler said that it uses ISO27001, SOC2 Type 1 & 2 protections, but he also confirmed that it does store your data.

Currently the idea is that if you leave your job, your next employer would need to also be a Truework customer in order to update the information it has on you: the startup makes money by charging both larger enterprises to make the platform accessible to employees as well as those organizations that are querying for the information/verifications (small business employers using the platform can use it for free).

Over time, the plan will be to configure a way to update your profiles regardless of where you work.

So far, the concept has seen a lot of traction: there are 20,000 small businesses using the platform, as well as 100 enterprises, with the number of verifiers (its term for those requesting information) now at 40,000. Customers include The College Board, The Real Real, Oscar Health, The Motley Fool, and Tuft & Needle.

While all of this was built at a time before COVID-19, the global health pandemic has highlighted the importance of having more efficient and secure systems for doing work, especially at a time when many people are not in the office.

“Our biggest competitor is the fax machine and the phone call,” Sandler said, “but as companies move to more remote working, no one is manning the phones or fax machines. But these operations still need to happen.” Indeed, he points out that at the end of 2019, Truework had 25,000 verifiers. Nearly doubling its end-user customers speaks to the huge boost in business it has seen in the last five months.

That is part of the reason the company has attracted the investment it has.

“Truework’s platform sits at the center of consumers’ most important transactions and life events – from purchasing a home, to securing a new job,” said Steve Sarracino, founder and partner at Activant Capital, in a statement. “Up until now, the identity verification process has been painful, expensive, and opaque for all parties involved, something we’ve seen first-hand in the mortgage space. Starting with income and employment, Truework is setting the standard for consent-based verifications and unlocking the next wave of the digital economy. We’re thrilled to be partnering with this exceptional team as they continue to scale the platform.” Sarracino is joining the board with this round.

While a big focus in the world of tech right now may be on building more and better ways of connecting goods and services to people in as contact-free a way as possible, the bigger play around identity management has been around for years, and will continue to be a huge part of how the internet develops in the future.

The fax and phone may be the primary tools these days for verifying employment information, but on a more general level, there are companies like Facebook, Google and Apple already playing a big role in how we “log in” and use all kinds of services online. They, along with others focused squarely on the identity and verification space (and Truework works with some of them), and using a myriad of approaches that include biometrics, ‘wallet’-style passports that link to information elsewhere, and more, will all continue to try to make the case for why they might be the most trusted provider of that layer of information, at a time when we may want to share less and especially share less with multiple parties.

That is the bigger opportunity that investors are betting on here.

“The increasing momentum Truework has seen since its founding in 2017 demonstrates the critical need for transformation in this space,” said Alfred Lin, partner at Sequoia, in a statement. “Privacy, especially around identity data, is becoming increasingly top of mind for consumers and how they make transactions online.”

Truework has now raised close to $45 million, and it’s not disclosing its valuation.

Apr
08
2020
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Mozilla names long-time chairwoman Mitchell Baker as CEO

Mozilla Corporation announced today that it has chosen long-time chairwoman Mitchell Baker to be CEO, replacing Chris Beard, who announced last August he would be stepping down at the end of the year.

Baker represents a logical choice to lead the company. At a time of great turmoil in the world at large, she brings the stability of someone who has been with Mozilla Corporation since 2003. Writing in a company blog post, she certainly recognized the challenges ahead, navigating the current economic uncertainty and the competitive challenges the company faces with its flagship Firefox browser.

“It’s a time of challenge on many levels, there’s no question about that. Mozilla’s flagship product remains excellent, but the competition is stiff. The increasing vertical integration of internet experience remains a deep challenge. It’s also a time of need, and of opportunity. Increasingly, numbers of people recognize that the internet needs attention,” Baker wrote.

Baker has been acting as interim CEO since December when Beard officially left the company. In a blog post from the board announcing Baker’s official new title, they certainly recognized that it would take someone with her unique combination of skills and experience to guide the company through this next phase.

“Mitchell’s deep understanding of Mozilla’s existing businesses gives her the ability to provide direction and support to drive this important work forward,” they wrote. Adding, “And her leadership style grounded in openness and honesty is helping the organization navigate through the uncertainty that COVID-19 has created for Mozillians at work and at home.”

Mozilla Corporation was founded in 1998 and is best known for its flagship, open-source Firefox browser. The company faces stiff competition in the browser market from Google, Apple and Microsoft.

Jan
02
2020
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The story of why Marc Benioff gifted the AppStore.com domain to Steve Jobs

In Marc Benioff’s book, Trailblazer, he tells the tale of how Steve Jobs planted the seeds of the idea that would become the first enterprise app store, and how Benioff eventually paid Jobs back with the gift of the AppStore.com domain.

While Salesforce did truly help blaze a trail when it launched as an enterprise cloud service in 1999, it took that a step further in 2006 when it became the first SaaS company to distribute related services in an online store.

In an interview last year around Salesforce’s 20th anniversary, company CTO and co-founder Parker Harris told me that the idea for the app store came out of a meeting with Steve Jobs three years before AppExchange would launch. Benioff, Harris and fellow co-founder Dave Moellenhoff took a trip to Cupertino in 2003 to meet with Jobs. At that meeting, the legendary CEO gave the trio some sage advice: to really grow and develop as a company, Salesforce needed to develop a cloud software ecosystem. While that’s something that’s a given for enterprise SaaS companies today, it was new to Benioff and his team in 2003.

As Benioff tells it in his book, he asked Jobs to elucidate on what he meant by an application ecosystem. Jobs replied that how he implemented the idea was up to him. It took some time for that concept to bake, however. Benioff wrote that the notion of an app store eventually came to him as an epiphany at dinner one night a few years after that meeting. He says that he sketched out that original idea on a napkin while sitting in a restaurant:

One evening over dinner in San Francisco, I was struck by an irresistibly simple idea. What if any developer from anywhere in the world could create their own applications for the Salesforce platform? And what if we offered to store these apps in an online directory that allowed any Salesforce user to download them?

Whether it happened like that or not, the app store idea would eventually come to fruition, but it wasn’t originally called the AppExchange, as it is today. Instead, Benioff says he liked the name AppStore.com so much that he had his lawyers register the domain the next day.

When Benioff talked to customers prior to the launch, while they liked the concept, they didn’t like the name he had come up with for his online store. He eventually relented and launched in 2006 with the name AppExchange.com instead. Force.com would follow in 2007, giving programmers a full-fledged development platform to create applications, and then distribute them in AppExchange.

Meanwhile, AppStore.com sat dormant until 2008, when Benioff was invited back to Cupertino for a big announcement around iPhone. As Benioff wrote, “At the climactic moment, [Jobs] said [five] words that nearly floored me: ‘I give you App Store.”

Benioff wrote that he and his executives actually gasped when they heard the name. Somehow, even after all that time had passed since that the original meeting, both companies had settled upon the same name. Except Salesforce had rejected it, leaving an opening for Benioff to give a gift to his mentor. He says that he went backstage after the keynote and signed over the domain to Jobs.

In the end, the idea of the web domain wasn’t even all that important to Jobs in the context of an app store concept. After all, he put the App Store on every phone, and it wouldn’t require a website to download apps. Perhaps that’s why today the domain points to the iTunes store, and launches iTunes (or gives you the option of opening it).

Even the App Store page on Apple.com uses the sub-domain “app-store” today, but it’s still a good story of how a conversation between Jobs and Benioff would eventually have a profound impact on how enterprise software was delivered, and how Benioff was able to give something back to Jobs for that advice.

Nov
18
2019
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Salesforce, Apple partnership begins to come to life

Last year at Dreamforce, Salesforce’s enormous annual customer conference, Apple and Salesforce announced the beginnings of a partnership where the two organizations would work together to enhance Salesforce products running on Apple devices. Today, as this year’s Dreamforce conference begins, the companies announced the fruits of that labor with general availability of two new tools that were first announced at last year’s event.

For starters, Apple has been working with Salesforce to redesign the Salesforce Mobile app to build in Apple iOS features into the app like being able to use Siri shortcuts to get work done faster, using your voice instead of typing, something that’s sometimes awkward to do on a mobile device.

Hey Siri example in Salesforce Mobile app.

Photo: Salesforce

For instance, you could say, “Hey Siri, next sales meeting,” and Siri can interact with Salesforce CRM to tell you who your meeting is with, the name of his or her company, when you last met and what the Einstein opportunity score is to help you predict how likely it is that you could make a sale today (or eventually).

In addition, the Mobile App takes advantage of Apple’s Handoff feature to reflect changes across devices immediately, and Apple’s Face ID for easy log on to the app.

Salesforce also announced a pilot of Einstein Voice on Salesforce Mobile, allowing reps to enter notes, add tasks and update the CRM database using voice. Einstein is Salesforce’s general artificial intelligence layer, and the voice feature uses natural language understanding to interpret what the rep asks.

The company reports that over 1000 companies participated in piloting the updated app, which constitutes the largest pilot in the history of the organization.

Salesforce also announced its new mobile development platform SDK, built specifically for iOS and iPadOS using the Swift language. The idea is to provide a tool to give Salesforce developers with the ability to build apps for iPad and iPhone, then package them up with a new tool called Swift UI and Package Manager.

Trailhead Go

Photo: Salesforce

Trailhead Go is the mobile version of the company’s online learning platform designed specifically for iPad and iPhone. It was built using the new Mobile SDK, and allows users to access the same courses they can on the web in a mobile context. The new mobile tool includes the ability to Handoff between devices along with support for picture-in-picture and split view for multi-tasking when it makes sense.

Salesforce Mobile and Trailhead Go are available starting today for free in the iOS App Store. The Salesforce Mobile SDK will be available later this year.

As this partnership continues to develop, both companies should benefit. Salesforce gets direct access to Apple features, and can work with Apple to implement them in an optimized way. Apple gets deeper access to the enterprise with help from Salesforce, one of the biggest enterprise software vendors around.

Oct
28
2019
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Kandji announces $3.375M seed for sophisticated Apple MDM solution

Kandji, a new Apple MDM solution that promises to go far beyond Apple’s base MDM protocol and other solutions on the market, emerged from stealth today with a $3.375 million seed investment. The product is also publicly available for the first time starting today.

The round, which closed in March, was led by First Round Capital with help from Webb Investment Network, Lee Fixel, John Glynn and other unnamed investors.

Company co-founder and CEO Adam Pettit says the company’s founders have a deep knowledge in Apple. They all worked at Apple before leaving to run an Apple IT consultancy for more than 10 years.

He said that while they were at the consultancy, they developed a proprietary stack of tools to help with highly sophisticated Apple device deployments at large organizations, and it occurred to them that there was an unserved market opportunity to turn that knowledge into a new product.

Two years ago they sold the consultancy, took that knowledge and built Kandji from the ground up. Pettit says the new product gives customers access to a set of management tools that they would have charged six figures to implement at that their old firm.

One of the key differentiators between Kandji and other MDM solutions, or even Apple’s base MDM functionality, is a set of one-click compliance tools. “We’re the only product that has almost 200 of these one-click policy frameworks we call parameters. So an organization can go in and browse by compliance framework, or we have pre-built templates for companies that don’t necessarily have a specific compliance mandate in mind,” he said.

The parameters have all of the tools built-in to automatically deploy a set of policies related to a given compliance framework without having to go through and manually set all of those different switches yourself. On the flip side, if you want to get granular and create your own parameters, you can do that too.

He says one of the reasons he and his partners were willing to give up the big-dollar consultancy was because they saw a huge opportunity for firms that couldn’t afford those kind of services, but still had relatively large Apple device deployments. “I mean there’s a big need outside of just the specific kind of sophisticated compliance work we would do [at our previous firm]. We saw this big need in general for an Apple MDM solution like ours,” he said.

After selling their previous firm, the founders bootstrapped for a year while they developed the initial version of Kandji before seeking funding. Today, the company has 16 employees and a set of initial customers that have been testing the product.

Sep
24
2019
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Amazon launches Amazon Care, a virtual and in-person healthcare offering for employees

Amazon has gone live with Amazon Care, a new pilot healthcare service offering that is initially available to its employees in and around the Seattle area. The Amazon Care offering includes both virtual and in-person care, with telemedicine via app, chat and remote video, as well as follow-up visits and prescription drug delivery in person directly at an employee’s home or office.

First reported by CNBC, Amazon Care grew out of an initiative announced in 2018 with J.P. Morgan and Berkshire Hathaway to make a big change in how they all collectively handle their employee healthcare needs. The companies announced at the time that they were eager to put together a solution that was “free from profit-making incentives and constraints,” which are of course at the heart of private insurance companies that serve corporate clients currently.

Other large companies, like Apple, offer their own on-premise and remotely accessible healthcare services as part of their employee compensation and benefits packages, so Amazon is hardly unique in seeking to scratch this itch. The difference, however, is that Amazon Care is much more external-facing than those offered by its peers in Silicon Valley, with a brand identity and presentation that strongly suggests the company is thinking about more than its own workforce when it comes to a future potential addressable market for Care.

Screen Shot 2019 09 24 at 4.02.46 PM

The Amazon Care logo.

Care’s website also provides a look at the app that Amazon developed for the telemedicine component, which shows the flow for choosing between text chat and video, as well as a summary of care provided through the service, with invoices, diagnosis and treatment plans all available for patient review.

Amazon lists Care as an option for a “first stop,” with the ability to handle things like colds, infections, minor injuries, preventative consultations, lab work, vaccinations, contraceptives and STI testing and general questions. Basically, it sounds like they cover a lot of what you’d handle at your general practitioner, before being recommended on for any more specialist or advanced medical treatment or expertise.

photo devicerendering.4x 9a453f4c420db36a6d32e73e7e344dec

Rendered screenshots of the Amazon Care app for Amazon employees.

Current eligibility is limited to Amazon’s employees who are enrolled in the company’s health insurance plan and who are located in the pilot service geographical area. The service is currently available between 8 AM and 9 PM local time, Monday through Friday, and between 8 AM and 6 PM Saturday and Sunday.

Amazon acquired PillPack last year, an online pharmacy startup, for around $753 million, and that appears to be part of their core value proposition with Amazon Care, too, which features couriered prescribed medications and remotely communicated treatment plans.

Amazon may be limiting this pilot to employees at launch, but the highly publicized nature of their approach, and the amount of product development that clearly went into developing the initial app, user experience and brand all indicate that it has the broader U.S. market in mind as a potential expansion opportunity down the line. Recent reports also suggest that it’s going to make a play in consumer health with new wearable fitness tracking devices, which could very nicely complement insurance and healthcare services offered at the enterprise and individual level. Perhaps not coincidentally, Walgreens, CVS and McKesson stock were all trading down today.

Aug
14
2019
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Procore brings 3D construction models to iOS

Today, Procore, a construction software company, announced Procore BIM (Building Information Modeling), a new tool that takes advantage of Apple hardware advances to bring the 3D construction model to iOS.

Dave McCool, senior product manager at Procore, says that for years architects and engineers have been working with 3D models of complex buildings on desktop computers and laptops, but these models never made it into the hands of the tradespeople actually working on the building. This forced them to make trips to the job site office to see the big picture whenever they ran into issues, a process that was inefficient and costly.

Procore has created a 3D model that corresponds to a virtual version of the 2D floor plan and runs on an iOS device. Touching a space on the floor plan opens a corresponding spot in the 3D model. What’s more, Procore has created a video game-like experience, so that contractors can use a virtual joystick to move around a 3D representation of the building, or they can use gestures to move around the rendering.

black iphone in landscape position held by a construction worker with a yellow hat a12584

Procore BIM running on an iPhone (Photo: Procore)

The app has been designed so that it can run on an iPhone 7, but for optimal performance, Procore recommends using an iPad Pro. The software takes advantage of Apple Metal, which gives developers “near direct” access to the GPU running on these devices. This ability to tap into GPU power speeds up performance and allows this level of sophisticated rendering quickly on iOS devices.

McCool says that this enables tradespeople to find the particular area on the drawing where their part of the project needs to go much more easily and intuitively, whether it’s wiring, duct work or plumbing. As he pointed out, it can get crowded in the space above a ceiling or inside a utility room, and the various teams need to work together to make sure they are putting their parts in the correct spot. Working with this tool helps make that placement crystal clear.

It’s essentially been designed to gamify the experience in order to help tradespeople who aren’t necessarily technically savvy operate the tool themselves and find their way around a drawing in 3D, while reducing the number of trips to the office to have a discussion with the architects or engineers to resolve issues.

This is the latest tool from a company that has been producing construction software since 2002. As a company spokesperson said, early on the company founder had to wire routers on the site to allow workers to use the earliest versions. Today, it offers a range of construction software to track financials, project, labor and safety management information.

Procore BIM will be available starting next month.

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