Dec
05
2018
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Workato raises $25M for its integration platform

Workato, a startup that offers an integration and automation platform for businesses that competes with the likes of MuleSoft, SnapLogic and Microsoft’s Logic Apps, today announced that it has raised a $25 million Series B funding round from Battery Ventures, Storm Ventures, ServiceNow and Workday Ventures. Combined with its previous rounds, the company has now received investments from some of the largest SaaS players, including Salesforce, which participated in an earlier round.

At its core, Workato’s service isn’t that different from other integration services (you can think of them as IFTTT for the enterprise), in that it helps you to connect disparate systems and services, set up triggers to kick off certain actions (if somebody signs a contract on DocuSign, send a message to Slack and create an invoice). Like its competitors, it connects to virtually any SaaS tool that a company would use, no matter whether that’s Marketo and Salesforce, or Slack and Twitter. And like some of its competitors, all of this can be done with a drag-and-drop interface.

What’s different, Workato founder and CEO Vijay Tella tells me, is that the service was built for business users, not IT admins. “Other enterprise integration platforms require people who are technical to build and manage them,” he said. “With the explosion in SaaS with lines of business buying them — the IT team gets backlogged with the various integration needs. Further, they are not able to handle all the workflow automation needs that businesses require to streamline and innovate on the operations.”

Battery Ventures’ general partner Neeraj Agrawal also echoed this. “As we’ve all seen, the number of SaaS applications run by companies is growing at a very rapid clip,” he said. “This has created a huge need to engage team members with less technical skill-sets in integrating all these applications. These types of users are closer to the actual business workflows that are ripe for automation, and we found Workato’s ability to empower everyday business users super compelling.”

Tella also stressed that Workato makes extensive use of AI/ML to make building integrations and automations easier. The company calls this Recipe Q. “Leveraging the tens of billions of events processed, hundreds of millions of metadata elements inspected and hundreds of thousands of automations that people have built on our platform — we leverage ML to guide users to build the most effective integration/automation by recommending next steps as they build these automations,” he explained. “It recommends the next set of actions to take, fields to map, auto-validates mappings, etc. The great thing with this is that as people build more automations — it learns from them and continues to make the automation smarter.”

The AI/ML system also handles errors and offers features like sentiment analysis to analyze emails and detect their intent, with the ability to route them depending on the results of that analysis.

As part of today’s announcement, the company is also launching a new AI-enabled feature: Automation Editions for sales, marketing and HR (with editions for finance and support coming in the future). The idea here is to give those departments a kit with pre-built workflows that helps them to get started with the service without having to bring in IT.

Jun
15
2017
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Entelo steps up its AI game with $20M Series C 

 The race to crown a winner in the AI-powered recruiting software space is on. With both Workey and Mya nabbing rounds in the last few weeks, the timing is prime for a few players to seek advantage in the form of growth capital. This seems to be exactly what Entelo, a six year old player in the space, is doing. The company is announcing a $20 million Series C round of financing today led by U.S. Read More

Feb
27
2017
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Workfit raises $5.5 million seed round to be your AI meeting assistant

Businessman leaning on conference room table and talking to co-workers at business meeting Conversational AI is pushing deeper into enterprise with Workfit, a new startup promising to make conference call follow-ups and mid-meeting CRM updates as easy as playing a song or checking the weather on Google Home or Amazon Echo. Battery Ventures, Greycroft Partners, Salesforce Ventures and a number of angels joined together to finance a $5.5 million seed investment in the… Read More

Jan
24
2017
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Why the $3.7 billion AppDynamics acquisition happened right before IPO

appdynamics Applications management company AppDynamics was just wrapping up the final touches on its initial public offering when it learned that Cisco was interested in discussing a potential deal. Preliminary talks were abandoned in November, but the discussion just picked up again last week. The deal was announced today and the IPO was slated to price tomorrow. Although many companies seek… Read More

Jun
23
2016
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Narvar raises $22 million to help internet retailers deliver physical goods without frustrating customers

A Sephora customer tracks their order with a Narvar-powered app. Battery Ventures led a $22 million, Series B investment in Narvar Inc., a company helping internet retailers keep their customers happy post-purchase, meaning until their packages are delivered, and if need be, successfully returned for an exchange or refund. Battery was joined by Fung Capital, a logistics-focused fund, and Narvar’s earlier backers Accel Partners and Freestyle… Read More

Jun
08
2016
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Analytics startup Amplitude raises $15M

amplitude Amplitude announced this morning that it has raised $15 million in Series B funding.
In the past, the web and mobile analytics company has pitched itself as a more affordable alternative to Mixpanel. More recently, CEO Spenser Skates said the bigger vision is to make user data available to everyone in a company, not just data scientists.
“It’s so easy to look up any piece of… Read More

Jan
26
2016
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Video Analytics Startup Vidyard Raises $35M

video greenscreen Vidyard, a startup that says it can improve companies’ video marketing and sales, has raised $35 million in Series C funding. The round was led by Battery Ventures, with participation from Bessemer Venture Partners, Salesforce Ventures, OMERS Ventures, iNovia Capital and SoftTech VC. The Y Combinator-incubated startup has now raised more than $60 million total. Vidyard offers a number… Read More

May
19
2014
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Born Out Of A Cisco Consulting Gig, Predictive Sales Tool 6Sense Raises $12M

6sense Of the many ways that big data analytics is impacting how enterprises do business, one of the most interesting has been in the area of predictive intelligence — the idea that by looking at all of the data being created in and around your organisation, you can help figure out what to do in the future. In the latest development in this space, 6Sense – a startup that was created… Read More

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