Sep
14
2021
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Sendoso nabs $100M as its corporate gifting platform passes 20,000 customers

Corporate gift services have come into their own during the COVID-19 pandemic by standing in as a proxy for other kinds of relationship-building activities — office meetings, lunches and hosting at events — that have traditionally been part and parcel of how people do business, but were no longer feasible during lockdowns, social distancing and offices closing their doors.

Now, Sendoso — a popular “end-to-end” gifting platform offering access to 30,000 products, including corporate swag, regular physical gifts, gift cards and more; and then providing services like logistics, packing and sending to get those gifts to the recipients — is announcing $100 million of funding to capitalize on this shift, led by a big new investor.

New backer SoftBank, via its Vision Fund 2, is leading this latest Series C round of funding. Oak HC/FT, Struck Capital, Stage 2 Capital, Craft Ventures, Signia Venture Partners and Felicis Ventures — all previous investors — are also participating.

The company has been on a strong growth trajectory for years now, but it specifically saw a surge of activity as the pandemic kicked off. It now has more than 20,000 businesses signed up and using its services, particularly for sales and marketing outreach, but also to help shore up morale among employees.

“Everyone was stuck at home by themselves, saturated with emails,” said Kris Rudeegraap, the CEO of Sendoso, in an interview. “Having a personal connection to sales prospects, employees and others just meant more.” It has now racked up some 3 million gifts sent since launching in 2016.

Sendoso is not disclosing its valuation, but Rudeegraap hinted that it was four times higher than the startup’s Series B valuation from 2020. PitchBook estimates that to be $160 million, which would make the current valuation $640 million. The company has now raised more than $150 million.

Rudeegraap said Sendoso will be using the funds in part to invest in a couple of areas. First, to hire more talent: It has 500 employees now and plans to grow that by 30% by the end of this year. And second, international expansion: It is setting up a European HQ in Dublin, Ireland to complement its main office in San Francisco.

Comcast, Kimpton Hotels, Thomson Reuters, Nasdaq and eBay are among its current customers — so this is in part to serve those customers’ global user bases, as well as to sign up new gifters. He estimated that the bigger market for corporate gifting is about $100 billion annually, so there is a lot to play for here.

The company was co-founded by Rudeegraap and Braydan Young (who is its chief alliances officer) on the back of a specific need Rudeegraap identified while working as a sales executive. Gifting is a very standard practice in the world of sales and marketing, but he was finding a lot of traction with potential and current customers by taking a personalized approach to this act.

“I was manually packing boxes, grabbing swag, coming up with handwritten notes,” he recalled. “It was inefficient, but it worked so well. So I dreamed up an idea: why not be able to click a button in Salesforce to do this automatically? Sometimes the best company is one that solves a pain point of your own.”

And this is essentially what Sendoso does. The startup’s platform integrates with a company’s existing marketing, sales and management software — Salesforce, HubSpot, SalesLoft among them — and then lets users use this to organize and order gifts through these channels, for example as part of larger sales, marketing or HR strategies. The gifts are wide-ranging, covering corporate swag, other physical presents, gift cards and more, and there are also integrations you can include to share gifting across teams of salespeople, to analyze the campaigns and more.

The Sendoso platform itself, meanwhile, positions itself as having the “marketplace selection and logistics precision of Amazon.com.” But Sendoso also believes it’s better than someone simply using Amazon.com itself since it ultimately takes a more personalized approach in how it presents the gift.

“There are a lot of things we do uniquely in terms of what we have built throughout our software, gifting options and logistics centre. We really personalize our gifts at scale with handwritten notes, special boxing, and more,” something that Amazon cannot do, he added. “We have built a lot of unique technology and logistics software that would make it hard for Amazon to compete.” He said that one of Sendoso’s integrations is actually with Amazon, so Sendoso users can order through there, but then the gift is first routed to Sendoso to be repackaged in a nicer way before being sent out.

At its heart, the startup has built a way of knitting together disparate work practices — some codified in software, and some based on human interactions and significantly more infused with randomness, emotion and ad hoc approaches — and built it all into a technology platform. The ability to scale what feels like an otherwise bespoke level of service is what has helped Sendoso gain traction not just with users, but investors, too.

“We believe Sendoso offers the most comprehensive end-to-end gifting platform in the market,” said Priya Saiprasad, a partner at SoftBank Investment Advisers. “Their platform includes a global marketplace of curated vendors, seamless integration with existing tools, global logistics, and deep analytics. As a result, Sendoso serves as the backbone to enterprises’ engagement programs with prospective customers, existing customers, employees and other key stakeholders. We’re excited to lead this Series C round to help Sendoso accelerate its vision.”

Sep
16
2020
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Pure Storage acquires data service platform Portworx for $370M

Pure Storage, the public enterprise data storage company, today announced that it has acquired Portworx, a well-funded startup that provides a cloud-native storage and data-management platform based on Kubernetes, for $370 million in cash. This marks Pure Storage’s largest acquisition to date and shows how important this market for multicloud data services has become.

Current Portworx enterprise customers include the likes of Carrefour, Comcast, GE Digital, Kroger, Lufthansa, and T-Mobile. At the core of the service is its ability to help users migrate their data and create backups. It creates a storage layer that allows developers to then access that data, no matter where it resides.

Pure Storage will use Portworx’s technology to expand its hybrid and multicloud services and provide Kubernetes -based data services across clouds.

Image Credits: Portworx

“I’m tremendously proud of what we’ve built at Portworx: An unparalleled data services platform for customers running mission-critical applications in hybrid and multicloud environments,” said Portworx CEO Murli Thirumale. “The traction and growth we see in our business daily shows that containers and Kubernetes are fundamental to the next-generation application architecture and thus competitiveness. We are excited for the accelerated growth and customer impact we will be able to achieve as a part of Pure.”

When the company raised its Series C round last year, Thirumale told me that Portworx had expanded its customer base by over 100% and its bookings increased by 376 from 2018 to 2019.

“As forward-thinking enterprises adopt cloud-native strategies to advance their business, we are thrilled to have the Portworx team and their groundbreaking technology joining us at Pure to expand our success in delivering multicloud data services for Kubernetes,” said Charles Giancarlo, chairman and CEO of Pure Storage. “This acquisition marks a significant milestone in expanding our Modern Data Experience to cover traditional and cloud native applications alike.”

Jun
10
2019
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Qubole launches Quantum, its serverless database engine

Qubole, the data platform founded by Apache Hive creator and former head of Facebook’s Data Infrastructure team Ashish Thusoo, today announced the launch of Quantum, its first serverless offering.

Qubole may not necessarily be a household name, but its customers include the likes of Autodesk, Comcast, Lyft, Nextdoor and Zillow . For these users, Qubole has long offered a self-service platform that allowed their data scientists and engineers to build their AI, machine learning and analytics workflows on the public cloud of their choice. The platform sits on top of open-source technologies like Apache Spark, Presto and Kafka, for example.

Typically, enterprises have to provision a considerable amount of resources to give these platforms the resources they need. These resources often go unused and the infrastructure can quickly become complex.

Qubole already abstracts most of this away, offering what is essentially a serverless platform. With Quantum, however, it is going a step further by launching a high-performance serverless SQL engine that allows users to query petabytes of data with nothing else but ANSI-SQL, giving them the choice between using a Presto cluster or a serverless SQL engine to run their queries, for example.

The data can be stored on AWS and users won’t have to set up a second data lake or move their data to another platform to use the SQL engine. Quantum automatically scales up or down as needed, of course, and users can still work with the same metastore for their data, no matter whether they choose the clustered or serverless option. Indeed, Quantum is essentially just another SQL engine without Qubole’s overall suite of engines.

Typically, Qubole charges enterprises by compute minutes. When using Quantum, the company uses the same metric, but enterprises pay for the execution time of the query. “So instead of the Qubole compute units being associated with the number of minutes the cluster was up and running, it is associated with the Qubole compute units consumed by that particular query or that particular workload, which is even more fine-grained,” Thusoo explained. “This works really well when you have to do interactive workloads.”

Thusoo notes that Quantum is targeted at analysts who often need to perform interactive queries on data stored in object stores. Qubole integrates with services like Tableau and Looker (which Google is now in the process of acquiring). “They suddenly get access to very elastic compute capacity, but they are able to come through a very familiar user interface,” Thusoo noted.

 

Apr
05
2019
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On balance, the cloud has been a huge boon to startups

Today’s startups have a distinct advantage when it comes to launching a company because of the public cloud. You don’t have to build infrastructure or worry about what happens when you scale too quickly. The cloud vendors take care of all that for you.

But last month when Pinterest announced its IPO, the company’s cloud spend raised eyebrows. You see, the company is spending $750 million a year on cloud services, more specifically to AWS. When your business is primarily focused on photos and video, and needs to scale at a regular basis, that bill is going to be high.

That price tag prompted Erica Joy, a Microsoft engineer to publish this Tweet and start a little internal debate here at TechCrunch. Startups, after all, have a dog in this fight, and it’s worth exploring if the cloud is helping feed the startup ecosystem, or sending your bills soaring as they have with Pinterest.

For starters, it’s worth pointing out that Ms. Joy works for Microsoft, which just happens to be a primary competitor of Amazon’s in the cloud business. Regardless of her personal feelings on the matter, I’m sure Microsoft would be more than happy to take over that $750 million bill from Amazon. It’s a nice chunk of business, but all that aside, do startups benefit from having access to cloud vendors?

Apr
01
2016
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Slack is work chat’s runaway train, raises $200M at $3.8B

slack-hq The Slack rocketship won’t slow down. The business messaging startup has raised $200 million at a $3.8 billion post-money valuation, the company confirms to TechCrunch. The round was led by Thrive Capital, with participation by GGV, Comcast Ventures and Slack’s existing investors, including Accel, Index Ventures and Social Capital.
This brings the total funding for the… Read More

Aug
05
2015
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Workfront Raises $33M For Its Enterprise Work Management Service

ipad-workfront-view Work management solution Workfront (previously known as AtTask) today announced that it has raised a $33 million Series E funding round led by growth equity firm JMI Equity, which also previously led the company’s $38 million Series D round last year. Greenspring Global Partners and Atlas Peak also participated in this round. The company has now raised a total of $95 million.… Read More

Nov
11
2014
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OpenStack Live Call for Proposals closes November 16

OpenStack Live 2015: Call for speakers open through Nov. 9The OpenStack Live conference in Silicon Valley (April 13-14, 2015) will emphasize the essential elements of making OpenStack perform better with emphasis on the critical role of MySQL and Trove. If you use OpenStack and have a story to share or a skill to teach, we encourage you to submit a speaking proposal for a breakout or tutorial session. The OpenStack Live call for proposals is your chance to put your ideas, case studies, best practices and technical knowledge in front of an intelligent, engaged audience of OpenStack Users. If you are selected as a speaker, you will receive one complimentary full conference pass. November 16th is the last day to submit.

We are seeking submissions for both breakout and tutorial sessions on the following topics:

  • Performance Optimization of OpenStack
  • OpenStack Operations
  • OpenStack Trove
  • Replication and Backup for OpenStack
  • High Availability for OpenStack
  • OpenStack User Stories
  • Monitoring and Tools for OpenStack

All submissions will be reviewed by our highly qualified Conference Committee:

  • Mark Atwood from HP
  • Rich Bowen from Red Hat
  • Andrew Mitty from Comcast
  • Jason Rouault from Time Warner
  • Peter Boros from Percona

If you don’t plan to submit a speaking proposal, now is a great time to purchase your ticket at the low Super Saver rates. Visit the OpenStack Live 2015 conference website for full details.

OpenStack Live 2015 April 13-14

The post OpenStack Live Call for Proposals closes November 16 appeared first on MySQL Performance Blog.

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