Jan
12
2021
--

Slim.ai announces $6.6M seed to build container DevOps platform

We are more than seven years into the notion of modern containerization, and it still requires a complex set of tools and a high level of knowledge on how containers work. The DockerSlim open source project developed several years ago from a desire to remove some of that complexity for developers.

Slim.ai, a new startup that wants to build a commercial product on top of the open source project, announced a $6.6 million seed round today from Boldstart Ventures, Decibel Partners, FXP Ventures and TechAviv Founder Partners.

Company co-founder and CEO John Amaral says he and fellow co-founder and CTO Kyle Quest have worked together for years, but it was Quest who started and nurtured DockerSlim. “We started coming together around a project that Kyle built called DockerSlim. He’s the primary author, inventor and up until we started doing this company, the sole proprietor of that of that community,” Amaral explained.

At the time Quest built DockerSlim in 2015, he was working with Docker containers and he wanted a way to automate some of the lower level tasks involved in dealing with them. “I wanted to solve my own pain points and problems that I had to deal with, and my team had to deal with dealing with containers. Containers were an exciting new technology, but there was a lot of domain knowledge you needed to build production-grade applications and not everybody had that kind of domain expertise on the team, which is pretty common in almost every team,” he said.

He originally built the tool to optimize container images, but he began looking at other aspects of the DevOps lifecycle including the author, build, deploy and run phases. He found as he looked at that, he saw the possibility of building a commercial company on top of the open source project.

Quest says that while the open source project is a starting point, he and Amaral see a lot of areas to expand. “You need to integrate it into your developer workflow and then you have different systems you deal with, different container registries, different cloud environments and all of that. […] You need a solution that can address those needs and doing that through an open source tool is challenging, and that’s where there’s a lot of opportunity to provide premium value and have a commercial product offering,” Quest explained.

Ed Sim, founder and general partner at Boldstart Ventures, one of the seed investors sees a company bringing innovation to an area of technology where it has been lacking, while putting some more control in the hands of developers. “Slim can shift that all left and give developers the power through the Slim tools to answer all those questions, and then, boom, they can develop containers, push them into production and then DevOps can do their thing,” he said.

They are just 15 people right now including the founders, but Amaral says building a diverse and inclusive company is important to him, and that’s why one of his early hires was head of culture. “One of the first two or three people we brought into the company was our head of culture. We actually have that role in our company now, and she is a rock star and a highly competent and focused person on building a great culture. Culture and diversity to me are two sides of the same coin,” he said.

The company is still in the very early stages of developing that product. In the meantime, they continue to nurture the open source project and to build a community around that. They hope to use that as a springboard to build interest in the commercial product, which should be available some time later this year.

Nov
03
2020
--

How startups can shake up their first idea and still crush the market

When Quibi announced it was shutting its doors recently after raising $1.75 billion, it begged an obvious question: If the original idea didn’t work, why not adjust its model or do something completely different while it still had capital? It wouldn’t have been the first company to decide to shift gears. Perhaps because of the unusually large amount of money it burned through in just six months of public operation, pivoting wasn’t an option for Quibi, but it has been for countless other successful companies over the years. Sometimes an original idea simply doesn’t pan out, a market gets too crowded or a company’s founders stumble onto something they have built that is actually a better business than the original idea.

There are many such examples:

These examples — and many more — show that when your first approach doesn’t work, pivoting may be the the only logical course, but it takes courage from founders and patience from investors.

We spoke to several founders and VCs who have been through this to find out how pivots happen, and how all the parties involved adjust to shifting priorities.

Sometimes it’s a long and twisting road

A big part of founding a company is having vision. You need to believe in your idea of course, but that doesn’t mean it’s the right way to go. Sometimes it pays to move on. The king of pivots might be the aptly named Pivotal, which changed direction several times and even swapped owners before it went public and got acquired, all in the span of about 20 years. Ed Sim, co-founder at boldstart ventures was part of Dawntreader Ventures in the late 90s when his firm invested in an early version of the company called Metapa. Sim had a front row seat to every twist and turn in the company’s long and intricate history.

“Greenplum, which was sold to EMC and eventually became Pivotal Software, was initially called Metapa. Metapa was in the Akamai space and as the markets cratered in 2001 for funding infrastructure projects, Scott Yara (the company’s founder) and team bought a small company called Didera and turned it into Greenplum, the first petabyte scale data warehouse built on top of open-source technology,” Sim told TechCrunch. It didn’t end there though as Sim continued, “Once again, years later, Scott recruited his replacement CEO, Bill Cook, and they paired together to sell Greenplum to EMC and eventually spin back out and take the company public as Pivotal Software.

It’s worth noting that Pivotal eventually ran into financial problems when its stock tanked last year, but fellow Dell/EMC family member VMware saved the day by acquiring it for $2.7 billion.

Sometimes you stumble onto an idea

Segment, the customer-data platform company that was recently sold to Twilio for $3.2 billion was originally a college lecture sentiment platform, according to CEO and co-founder Peter Reinhardt. “Our first idea was a classroom lecture tool, ClassMetric, which gave students a button they could press in class to let professors know, in real-time, that they were confused. I like to think of it like a pulse monitor for class confusion,” Reinhardt told TechCrunch

That idea quickly failed when professors testing it found that inviting students to open their laptops to test their sentiment just led them to start playing Solitaire or checking Facebook. Professors weren’t thrilled and they moved on. The founders, who were MIT students at the time, decided they wanted to build an analytics tool instead, but it turned out that competition from Google Analytics and Mixpanel at the time proved too steep.

“We spent a year on development, but it was a crowded market and we struggled to carve out our own niche. We were rapidly running out of capital and the pressure was on to find something new,” he said. They were actually considering simply packing it in, but they had developed a tiny open-source tool called analytics.js, which they used to get data into their failed analytics product. At that point, desperate for an idea, one of the founders suggested posting the open-source tool on Hacker News.

Aug
21
2020
--

Box CEO Aaron Levie says thrifty founders have more control

Once upon a time, Box’s Aaron Levie was just a guy with an idea for a company: 15 years ago as a USC student, he conceived of a way to simply store and share files online.

It may be hard to recall, but back then, the world was awash with thumb drives and moving files manually, but Levie saw an opportunity to change that.

Today, his company helps enterprise customers collaborate and manage content in the cloud, but when Levie appeared on an episode of Extra Crunch Live at the end of May, my colleague Jon Shieber and I asked him if he had any advice for startups. While he was careful to point out that there is no “one size fits all” advice, he did make one thing clear:

“I would highly recommend to any company of any size that you have as much control of your destiny as possible. So put yourself in a position where you spend as little amount of dollars as you can from a burn standpoint and get as close to revenue being equal to your expenses as you can possibly get to,” he advised.

Don’t let current conditions scare you

Levie also advised founders not to be frightened off by current conditions, whether that’s the pandemic or the recession. Instead, he said if you have an idea, seize the moment and build it, regardless of the economy or the state of the world. If, like Levie, you are in it for the long haul, this too will pass, and if your idea is good enough, it will survive and even thrive as you move through your startup growth cycle.

Apr
27
2020
--

Seed investors take long view on promising enterprise startups

The job of an early-stage startup founder is challenging in good times, never mind a crash like the one we are experiencing today.

While most expect private investing to slow down, it’s clear that some investments are still happening in spite of the pandemic, if the stories we are writing on TechCrunch are any indication.

But the downturn is bound to have an impact on the types of deals that receive funding; any startup that offers a good or service requiring human interaction or installation will face an uphill battle, at least in the short term. That said, enterprise SaaS vendors, especially ones that solve hard problems, help with work-from-home or collaboration, or better yet, help increase efficiency and save money, are still very much in demand.

Nobody can do anything about the CIO who is hunkering down until things improve — but that’s not everyone. Companies might be thinking twice about where they spend money, but some are still helping drive the net-new, post-COVID-19 investments happening from seed to late stage across many sectors.

We looked at data and spoke to a couple of enterprise-focused, NYC-based seed investors to better understand their investing cadence. Nobody painted a rosy picture of today’s climate, but seed investors were never about immediate gratification, especially where enterprise startups are concerned. That means, if a seed-stage investor believes in the founders and their vision and the company can ride out today’s economic upset, there’s still money in the till — at least for now.

Seed investment generally in decline

Apr
21
2020
--

Env0 announces $3.3M seed to bring more control to Infrastructure as Code

Env0, a startup that wants to help companies bring some order to delivery of Infrastructure as Code, announced a $3.3 million seed investment today and the release of the Beta of the company’s first product.

Boldstart Ventures and Grove Ventures co-led the round with participation from several angel investors including Guy Podjarny of Snyk.

Company co-founder and CEO Ohad Maislish says the ability of developers to deliver code quickly is a blessing and a curse, and his company wants to give IT some control over how and when code gets committed.

“The challenge companies have is how to balance between self-service and oversight of cloud resources in a cloud native kind of way, and to balance this with visibility, predictability, and most importantly, governance around cloud security and costs,” Maislish said.

The product lets companies define when it’s OK for developers to deliver code and how much they can spend instead of letting them deliver anything, at any time, at any cost. You do this by giving overall control of the process to an administrator, who can then define templates and projects. The templates define which repositories and products you can use for a given cloud vendor and the projects correlate to the users allowed to access those templates.

Image Credit: Env0

Ed Sim, founder and managing partner at Boldstart says the startup has been able to find a good balance between governance and the need for speed that today’s developers require in a continuous delivery environment. “Env0 is the first SaaS solution that meets all of those needs by offering self-service cloud environments with centralized governance,” Sim said in a statement.

It’s not easy launching an early-stage company in the middle of the current economic situation, but Maislish believes his company is in a decent position as it provides a way to control self-service development, something that is even more important when your developers are working from home outside of the purview of IT and security.

The company launched 18 months ago and has been in private beta for some time. Today marks the launch of the public beta. It currently has 10 employees.

Mar
17
2020
--

Spectro Cloud launches with $7.5M investment to help developers build Kubernetes clusters their way

By now we know that Kubernetes is a wildly popular container management platform, but if you want to use it, you pretty much have to choose between having someone manage it for you or building it yourself. Spectro Cloud emerged from stealth today with a $7.5 million investment to give you a third choice that falls somewhere in the middle.

The funding was led by Sierra Ventures with participation from Boldstart Ventures.

Ed Sim, founder at Boldstart, says he liked the team and the tech. “Spectro Cloud is solving a massive pain that every large enterprise is struggling with: how to roll your own Kubernetes service on a managed platform without being beholden to any large vendor,” Sim told TechCrunch.

Spectro co-founder and CEO Tenry Fu says an enterprise should not have to compromise between control and ease of use. “We want to be the first company that brings an easy-to-use managed Kubernetes experience to the enterprise, but also gives them the flexibility to define their own Kubernetes infrastructure stacks at scale,” Fu explained.

Fu says that the stack, in this instance, consists of the base operating system to the Kubernetes version to the storage, networking and other layers like security, logging, monitoring, load balancing or anything that’s infrastructure related around Kubernetes.

“Within an organization in the enterprise you can serve the needs of your various groups, down to pretty granular level with respect to what’s in your infrastructure stack, and then you don’t have to worry about lifecycle management,” he explained. That’s because Spectro Cloud handles that for you, while still giving you that control.

That gives enterprise developers greater deployment flexibility and the ability to move between cloud infrastructure providers more easily, something that is top of mind today as companies don’t want to be locked into a single vendor.

“There’s an infrastructure control continuum that forces enterprises into trade-offs against these needs. At one extreme, the managed offerings offer a kind of nirvana around ease of use, but it’s at the expense of control over things like the cloud that you’re on or when you adopt new ecosystem options like updated versions of Kubernetes.”

Fu and his co-founders have a deep background in this, having previously been part of CliQr, a company that helped customers manage applications across hybrid cloud environments. They sold that company to Cisco in 2016 and began developing Spectro Cloud last spring.

It’s early days, but the company has been working with 16 beta customers.

Powered by WordPress | Theme: Aeros 2.0 by TheBuckmaker.com