Jul
10
2019
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SAP CEO Bill McDermott will join us at TC Sessions: Enterprise

You can’t talk about enterprise software without talking about SAP, the German software giant that now has a market cap of more than $172 billion, making it Europe’s most valuable tech company. To talk about his company and leadership in a rapidly changing environment for enterprise software, SAP CEO Bill McDermott will join us for a fireside chat at our TC Sessions: Enterprise event on September 5 in San Francisco.

McDermott joined the company as the CEO of SAP America in 2002. He then joined the executive board in 2008 and became co-CEO in 2010. Since becoming the first American to head the company in 2014, McDermott has continued to increase the company’s annual revenue and, maybe more importantly, expanded the company’s product range.

Chances are you know SAP mostly for its Hana in-memory database offering and CRM and enterprise resource management systems. Hana is important enough that all of the major cloud suppliers offer virtual machines specifically tuned for it, something they don’t do for any other piece of software. But SAP also offers services around data and networks management, IoT, blockchain and HR. Its more than 300,000 customers span virtually every industry and include government agencies around the globe, and the company itself has offices in virtually every country in the world.

We will talk to McDermott about the trends he’s seeing in the industry, including his company’s open data alliance with Microsoft and Adobe, his plans to double his company’s market cap, the role that open source now plays in enterprise software and how owning a Long Island deli prepared him for his current job. And we won’t forget SAP’s giant $8 billion acquisition of Qualtrics last year, which allows SAP to couple operational data with customer experience — matching what customers do with why they do it — one of the hottest areas in enterprise.

Outside of SAP, McDermott also serves on the board of directors of companies like Under Armour, Dell SecureWorks and ANSYS.e

Early Bird tickets are on sale for just $249 when you book here, but hurry — prices go up by $100 soon! Students, grab your discounted tickets for just $75 here.


Sep
05
2018
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Elastic’s IPO filing is here

Elastic, the provider of subscription-based data search software used by Dell, Netflix, The New York Times and others, has unveiled its IPO filing after confidentially submitting paperwork to the SEC in June. The company will be the latest in a line of enterprise SaaS businesses to hit the public markets in 2018.

Headquartered in Mountain View, Elastic plans to raise $100 million in its NYSE listing, though that’s likely a placeholder amount. The timing of the filing suggests the company will transition to the public markets this fall; we’ve reached out to the company for more details. 

Elastic will trade under the symbol ESTC.

The business is known for its core product, an open-source search tool called ElasticSearch. It also offers a range of analytics and visualization tools meant to help businesses organize large data sets, competing directly with companies like Splunk and even Amazon — a name it mentions 14 times in the filing.

Amazon offers some of our open source features as part of its Amazon Web Services offering. As such, Amazon competes with us for potential customers, and while Amazon cannot provide our proprietary software, the pricing of Amazon’s offerings may limit our ability to adjust,” the company wrote in the filing, which also lists Endeca, FAST, Autonomy and several others as key competitors.

This is our first look at Elastic’s financials. The company brought in $159.9 million in revenue in the 12 months ended July 30, 2018, up roughly 100 percent from $88.1 million the year prior. Losses are growing at about the same rate. Elastic reported a net loss of $18.5 million in the second quarter of 2018. That’s an increase from $9.9 million in the same period in 2017.

Founded in 2012, the company has raised about $100 million in venture capital funding, garnering a $700 million valuation the last time it raised VC, which was all the way back in 2014. Its investors include Benchmark, NEA and Future Fund, which each retain a 17.8 percent, 10.2 percent and 8.2 percent pre-IPO stake, respectively.

A flurry of business software companies have opted to go public this year. Domo, a business analytics company based in Utah, went public in June raising $193 million in the process. On top of that, subscription biller Zuora had a positive debut in April in what was a “clear sign post on the road to SaaS maturation,” according to TechCrunch’s Ron Miller. DocuSign and Smartsheet are also recent examples of both high-profile and successful SaaS IPOs.

Mar
20
2017
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SirionLabs establishes US foothold to scale its NLP contract management software

 SirionLabs, a startup providing vendor management software to enterprises, is adding a U.S. headquarters to its footprint. The company was initially founded in India and has raised $16.95 million from Sequoia Capital India, Canopy Ventures and Qualgro VC to extract data from contracts to ensure transparency and accountability. The establishment of a U.S. presence represents a strategic… Read More

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