Jun
10
2019
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Salesforce is buying data visualization company Tableau for $15.7B in all-stock deal

On the heels of Google buying analytics startup Looker last week for $2.6 billion, Salesforce today announced a huge piece of news in a bid to step up its own work in data visualization and (more generally) tools to help enterprises make sense of the sea of data that they use and amass: Salesforce is buying Tableau for $15.7 billion in an all-stock deal.

The latter is publicly traded and this deal will involve shares of Tableau Class A and Class B common stock getting exchanged for 1.103 shares of Salesforce common stock, the company said, and so the $15.7 billion figure is the enterprise value of the transaction, based on the average price of Salesforce’s shares as of June 7, 2019.

This is a huge jump on Tableau’s last market cap: it was valued at $10.79 billion at close of trading Friday, according to figures on Google Finance. (Also: trading has halted on its stock in light of this news.)

The two boards have already approved the deal, Salesforce notes. The two companies’ management teams will be hosting a conference call at 8am Eastern and I’ll listen in to that as well to get more details.

This is a huge deal for Salesforce as it continues to diversify beyond CRM software and into deeper layers of analytics.

The company reportedly worked hard to — but ultimately missed out on — buying LinkedIn (which Microsoft picked up instead), and while there isn’t a whole lot in common between LinkedIn and Tableau, this deal will also help Salesforce extend its engagement (and data intelligence) for the customers that Salesforce already has — something that LinkedIn would have also helped it to do.

This also looks like a move designed to help bulk up against Google’s move to buy Looker, announced last week, although I’d argue that analytics is a big enough area that all major tech companies that are courting enterprises are getting their ducks in a row in terms of squaring up to stronger strategies (and products) in this area. It’s unclear whether (and if) the two deals were made in response to each other, although it seems that Salesforce has been eyeing up Tableau for years.

“We are bringing together the world’s #1 CRM with the #1 analytics platform. Tableau helps people see and understand data, and Salesforce helps people engage and understand customers. It’s truly the best of both worlds for our customers–bringing together two critical platforms that every customer needs to understand their world,” said Marc Benioff, chairman and co-CEO, Salesforce, in a statement. “I’m thrilled to welcome Adam and his team to Salesforce.”

Tableau has about 86,000 business customers, including Charles Schwab, Verizon (which owns TC), Schneider Electric, Southwest and Netflix. Salesforce said Tableau will operate independently and under its own brand post-acquisition. It will also remain headquartered in Seattle, Wash., headed by CEO Adam Selipsky along with others on the current leadership team.

Indeed, later during the call, Benioff let it drop that Seattle would become Salesforce’s official second headquarters with the closing of this deal.

That’s not to say, though, that the two will not be working together.

On the contrary, Salesforce is already talking up the possibilities of expanding what the company is already doing with its Einstein platform (launched back in 2016, Einstein is the home of all of Salesforce’s AI-based initiatives); and with “Customer 360,” which is the company’s product and take on omnichannel sales and marketing. The latter is an obvious and complementary product home, given that one huge aspect of Tableau’s service is to provide “big picture” insights.

“Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data,” said Selipsky. “As part of the world’s #1 CRM company, Tableau’s intuitive and powerful analytics will enable millions more people to discover actionable insights across their entire organizations. I’m delighted that our companies share very similar cultures and a relentless focus on customer success. I look forward to working together in support of our customers and communities.”

“Salesforce’s incredible success has always been based on anticipating the needs of our customers and providing them the solutions they need to grow their businesses,” said Keith Block, co-CEO, Salesforce. “Data is the foundation of every digital transformation, and the addition of Tableau will accelerate our ability to deliver customer success by enabling a truly unified and powerful view across all of a customer’s data.”

May
29
2019
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How we scaled our startup by being remote first

Startups are often associated with the benefits and toys provided in their offices. Foosball tables! Free food! Dog friendly! But what if the future of startups was less about physical office space and more about remote-first work environments? What if, in fact, the most compelling aspect of a startup work environment is that the employees don’t have to go to one?

A remote-first company model has been Seeq’s strategy since our founding in 2013. We have raised $35 million and grown to more than 100 employees around the globe. Remote-first is clearly working for us and may be the best model for other software companies as well.

So, who is Seeq and what’s been the key to making the remote-first model work for us?  And why did we do it in the first place?

Seeq is a remote-first startup – i.e. it was founded with the intention of not having a physical headquarters or offices, and still operates that way – that is developing an advanced analytics application that enables process engineers and subject matter experts in oil & gas, pharmaceuticals, utilities, and other process manufacturing industries to investigate and publish insights from the massive amounts of sensor data they generate and store.

To succeed, we needed to build a team quickly with two skill sets: 1) software development expertise, including machine learning, AI, data visualization, open source, agile development processes, cloud, etc. and 2) deep domain expertise in the industries we target.

Which means there is no one location where we can hire all the employees we need: Silicon Valley for software, Houston for oil & gas, New Jersey for fine chemicals, Seattle for cloud expertise, water utilities across the country, and so forth. But being remote-first has made recruiting and hiring these high-demand roles easier much easier than if we were collocated.

Image via Seeq Corporation

Job postings on remote-specific web sites like FlexJobs, Remote.co and Remote OK typically draw hundreds of applicants in a matter of days. This enables Seeq to hire great employees who might not call Seattle, Houston or Silicon Valley home – and is particularly attractive to employees with location-dependent spouses or employees who simply want to work where they want to live.

But a remote-first strategy and hiring quality employees for the skills you need is not enough: succeeding as a remote-first company requires a plan and execution around the “3 C’s of remote-first”.

The three requirements to remote-first success are the three C’s: communication, commitment and culture.

May
29
2019
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How we scaled our startup by being remote first

Startups are often associated with the benefits and toys provided in their offices. Foosball tables! Free food! Dog friendly! But what if the future of startups was less about physical office space and more about remote-first work environments? What if, in fact, the most compelling aspect of a startup work environment is that the employees don’t have to go to one?

A remote-first company model has been Seeq’s strategy since our founding in 2013. We have raised $35 million and grown to more than 100 employees around the globe. Remote-first is clearly working for us and may be the best model for other software companies as well.

So, who is Seeq and what’s been the key to making the remote-first model work for us?  And why did we do it in the first place?

Seeq is a remote-first startup – i.e. it was founded with the intention of not having a physical headquarters or offices, and still operates that way – that is developing an advanced analytics application that enables process engineers and subject matter experts in oil & gas, pharmaceuticals, utilities, and other process manufacturing industries to investigate and publish insights from the massive amounts of sensor data they generate and store.

To succeed, we needed to build a team quickly with two skill sets: 1) software development expertise, including machine learning, AI, data visualization, open source, agile development processes, cloud, etc. and 2) deep domain expertise in the industries we target.

Which means there is no one location where we can hire all the employees we need: Silicon Valley for software, Houston for oil & gas, New Jersey for fine chemicals, Seattle for cloud expertise, water utilities across the country, and so forth. But being remote-first has made recruiting and hiring these high-demand roles easier much easier than if we were collocated.

Image via Seeq Corporation

Job postings on remote-specific web sites like FlexJobs, Remote.co and Remote OK typically draw hundreds of applicants in a matter of days. This enables Seeq to hire great employees who might not call Seattle, Houston or Silicon Valley home – and is particularly attractive to employees with location-dependent spouses or employees who simply want to work where they want to live.

But a remote-first strategy and hiring quality employees for the skills you need is not enough: succeeding as a remote-first company requires a plan and execution around the “3 C’s of remote-first”.

The three requirements to remote-first success are the three C’s: communication, commitment and culture.

May
23
2019
--

Takeaways from KubeCon; the latest on Kubernetes and cloud native development

Extra Crunch offers members the opportunity to tune into conference calls led and moderated by the TechCrunch writers you read every day. This week, TechCrunch’s Frederic Lardinois and Ron Miller discuss major announcements that came out of the Linux Foundation’s European KubeCon/CloudNativeCon conference and discuss the future of Kubernetes and cloud-native technologies.

Nearly doubling in size year-over-year, this year’s KubeCon conference brought big news and big players, with major announcements coming from some of the world’s largest software vendors including Google, AWS, Microsoft, Red Hat, and more. Frederic and Ron discuss how the Kubernetes project grew to such significant scale and which new initiatives in cloud-native development show the most promise from both a developer and enterprise perspective.

“This ecosystem starts sprawling, and we’ve got everything from security companies to service mesh companies to storage companies. Everybody is here. The whole hall is full of them. Sometimes it’s hard to distinguish between them because there are so many competing start-ups at this point.

I’m pretty sure we’re going to see a consolidation in the next six months or so where some of the bigger players, maybe Oracle, maybe VMware, will start buying some of these smaller companies. And I’m sure the show floor will look quite different about a year from now. All the big guys are here because they’re all trying to figure out what’s next.”

Frederic and Ron also dive deeper into the startup ecosystem rapidly developing around Kubernetes and other cloud-native technologies and offer their take on what areas of opportunity may prove to be most promising for new startups and founders down the road.

For access to the full transcription and the call audio, and for the opportunity to participate in future conference calls, become a member of Extra Crunch. Learn more and try it for free. 

May
23
2019
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Andreessen pours $22M into PlanetScale’s database-as-a-service

PlanetScale’s founders invented the technology called Vitess that scaled YouTube. Now they’re selling it to any enterprise that wants their data both secure and consistently accessible. And thanks to its ability to re-shard databases while they’re operating, it can solve businesses’ troubles with GDPR, which demands they store some data in the same locality as the user to whom it belongs.

The potential to be a computing backbone that both competes with and complements Amazon’s AWS has now attracted a mammoth $22 million Series A for PlanetScale. Led by Andreessen Horowitz and joined by the firm’s Cultural Leadership Fund, head of the US Digital Service Matt Cutts, plus existing investor SignalFire, the round is a tall step up from the startup’s $3 million seed it raised a year ago. Andreessen general partner Peter Levine will join the PlanetScale board, bringing his enterprise launch expertise.

PlanetScale co-founders (from left): Jitendra Vaidya and Sugu Sougoumarane

“What we’re discovering is that people we thought were at one point competitors, like AWS and hosted relational databases — we’re discovering they may be our partners instead since we’re seeing a reasonable demand for our services in front of AWS’ hosted databases,” says CEO Jitendra Vaidya. “We are growing quite well.” Competing database startups were raising big rounds, so PlanetScale connected with Andreessen in search of more firepower.

A predecessor to Kubernetes, Vitess is a horizontal scaling sharding middleware built for MySQL. It lets businesses segment their database to boost memory efficiency without sacrificing reliable access speeds. PlanetScale sells Vitess in four ways: hosting on its database-as-a-service, licensing of the tech that can be run on-premises for clients or through another cloud provider, professional training for using Vitess and on-demand support for users of the open-source version of Vitess. PlanetScale now has 18 customers paying for licenses and services, and plans to release its own multi-cloud hosting to a general audience soon.

With data becoming so valuable and security concerns rising, many companies want cross-data center durability so one failure doesn’t break their app or delete information. But often the trade-off is unevenness in how long data takes to access. “If you take 100 queries, 99 might return results in 10 milliseconds, but one will take 10 seconds. That unpredictability is not something that apps can live with,” Vaidya tells me. PlanetScale’s Vitess gives enterprises the protection of redundancy but consistent speeds. It also allows businesses to continually update their replication logs so they’re only seconds behind what’s in production rather than doing periodic exports that can make it tough to track transactions and other data in real-time.

Now equipped with a ton of cash for a 20-person team, PlanetScale plans to double its staff by adding more sales, marketing and support. “We don’t have any concerns about the engineering side of things, but we need to figure out a go-to-market strategy for enterprises,” Vaidya explains. “As we’re both technical co-founders, about half of our funding is going towards hiring those functions [outside of engineering], and making that part of our organization work well and get results.”

But while a $22 million round from Andreessen Horowitz would be exciting for almost any startup, the funding for PlanetScale could assist the whole startup ecosystem. GDPR was designed to reign in tech giants. In reality, it applied compliance costs to all companies — yet the rich giants have more money to pay for those efforts. For a smaller startup, figuring out how to obey GDPR’s data localization mandate could be a huge engineering detour they can hardly afford. PlanetScale offers them not only databases but compliance-as-a-service too. It shards their data to where it has to be, and the startup can focus on their actual product.

May
20
2019
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Robin picks up $20 million Series B to optimize the office

Robin Powered, a startup looking to help offices run better, has today announced the close of a $20 million Series B funding. The round was led by Tola Capital, with existing investors Accomplice and FirstMark participating in the round, along with a new strategic Allegion Ventures.

Robin started as part of an agency called One Mighty Roar, where Robin Powered co-founder Sam Dunn and his two co-founders built out RFID and beacon tech for clients’ live events. In 2014, they spun out the tech as Robin and tweaked the focus on the modern office.

The office stands to be one of the least efficient pieces of any business. As a company grows, or even if it doesn’t, it’s particularly difficult to understand the “inventory” of the office and how it is used by workers throughout the day.

“Before, if I asked you what you needed out of your next office, you might go around and survey employees or hire an architecture firm,” said Dunn. “I heard a story where a manager sent around an intern every Thursday at 3pm to talk to employees about the office, and that was one of two pieces of information handed over to the architecture firm. At the end of the day, it’s hard to know if there’s a shortage of meeting rooms, or teleconference-enabled rooms, or collaborative workspaces.”

That’s where Robin comes in. Robin hooks into Google Calendar and Outlook to help employees get a sense of what meeting rooms and activity spaces are available in the office, complete with tablet signage out front. Meetings are the starting point for Robin, but the company can also offer tools for seating charts and office maps, as well as insights. The company wants to offer insights about how the space in this or that office is being used — what they lack and what they have too much of.

Robin charges its clients per room ($300) and per desk ($24 – $60). The hope is to build out the same technological backbone for clients’ offices as WeWork provides alongside its physical space, giving every business the opportunity to optimize one of their biggest investments: the office itself.

Robin has raised a total of $30 million.

Apr
25
2019
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SalesLoft nabs $70M at around $600M valuation for its sales engagement platform

Artificial intelligence and other tech for automating some of the more repetitive aspects of human jobs continues to be a growing category of software, and today a company that builds tools to address this need for salespeople has raised a tidy sum to grow its business.

SalesLoft, an Atlanta-based startup that has built a platform for salespeople to help them engage with their clients — providing communications tools, supporting data and finally analytics to “coach” salespeople to improve their processes — has raised $70 million in a Series D round of funding led by Insight Partners with participation from HarbourVest.

Kyle Porter, SalesLoft’s co-founder and CEO, would not disclose the amount of funding in an interview, but he did confirm that it is more than double its valuation from the previous round — a $50 million Series C that included LinkedIn among the investors (more on that below) — but less than $1 billion. That round was just over a year ago and would have valued the firm at $250 million. That would put SalesLoft’s current valuation at more than $500 million, and a source close to the company notes that it’s around $600 million.

While there are a number of CRM and sales tools out in the market today, Porter believes that many of the big ones might better be described as “dumb databases or repositories” of information rather than natively aimed at helping source and utilise data more effectively.

“They are not focused on improving how to connect buyers to sales teams in sincere ways,” he said. “And anytime a company like Salesforce has moved into tangential areas like these, they haven’t built from the ground up, but through acquisitions. It’s just hard to move giant aircraft carriers.”

SalesLoft is not the only one that has spotted this opportunity, of course. There are dozens of others that are either competing on single or all aspects of the same services that SalesLoft provides, including the likes of Clari, Chorus.ai, Gong, Conversica, Afiniti and not least Outreach — which is seen as a direct competitor on sales engagement and itself raised $114 million on a $1.1 billion valuation earlier this month.

One of the notable distinctions for SalesLoft is that one of its strategic investors is LinkedIn, which participated in its Series C. Before Microsoft acquired it, LinkedIn was seen as a potential competitor to Salesforce, and many thought that Microsoft’s acquisition was made squarely to help it compete against the CRM giant.

These days, Porter said that his company and LinkedIn have a tight integration by way of LinkedIn’s Sales Navigator product, which SalesLoft users can access and utilise directly within SalesLoft, and they have a hotline to be apprised of and help shape LinkedIn’s API developments. SalesLoft is also increasingly building links into Microsoft Dynamics, the company’s CRM business.

“We are seeing the highest usage in our LinkedIn integration among all the other integrations we provide,” Porter told me. “Our customers find that it’s the third most important behind email and phone calls.” Email, for all its cons, remains the first.

The fact that this is a crowded area of the market does speak to the opportunity and need for something effective, however, and the fact that SalesLoft has grown revenues 100 percent in each of the last two years, according to Porter, makes it a particularly attractive horse to bet on.

“So many software companies build a product to meet a market need and then focus purely on selling. SalesLoft is different. This team is continually innovating, pushing the boundaries, and changing the face of sales,” said Jeff Horing, co-founder and MD of Insight Venture Partners, in a statement. “This is one reason the company’s customers are so devoted to them. We are privileged to partner with this innovative company on their mission to improve selling experiences all over the world.”

Going forward, Porter said that in addition to expanding its footprint globally — recent openings include a new office in London — the company is going to go big on more AI and “intelligence” tools. The company already offers something it calls its “coaching network,” which is not human but AI-based and analyses calls as they happen to provide pointers and feedback after the fact (similar to others like Gong and Chorus, I should note).

“We want to give people a better way to deliver an authentic but ultimately human way to sell,” he said.

Apr
16
2019
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Leapwork raises $10M for its easy process automation platform, plans US expansion

Most work involving computers is highly repetitive, which is why companies regularly have developers write code to automate repetitive tasks. But that process is not very scalable. Ideally, individuals across an entire business would be able to create automated tasks, not just developers. This problem has created a new category called process automation. Startups in this space are all about making companies more efficient.
Most of the existing tools on the market are code-based and complicated, which tends to make it tough for non-technical people to automate anything. Ideally, you would allow them to train software robots to handle repetitive and mundane tasks.

This is the aim of Leapwork, which today announces a Series A investment of $10 million, from London’s DN Capital and e.ventures out of Berlin. The company already has many clients, from tier-one banks and global healthcare firms to aerospace and software companies, and now plans to expand in the U.S. Its customers typically already have a lot of experience with tools such as Tricentis, MicroFocus, UiPath and BluePrism, but employ Leapwork when code-based tools prove limiting.

Founded in 2015 and launched in April 2017, Leapwork has an entirely visual system, backed by a modern tech stack. Instead of using developer time, staff automate tasks themselves, without writing any code, with a simple user interface that is likened to learning PowerPoint or Excel. Leapwork estimates it can save 75 percent of an employee’s time.

Christian Brink Frederiksen, Leapwork’s CEO and co-founder said: “About half of our business comes from the U.S. and this investment will enable us to serve those customers better, as well as reaching new ones.”

Leapwork has found traction in the areas of software testing, data migration and robotic process automation in finance and healthcare. Based in Copenhagen, Denmark, Leapwork has offices in London, U.K., San Francisco, USA, Minsk, Belarus, and Gurugram, India.

Thomas Rubens, of DN Capital, said: “From the outset we were impressed by Leapwork’s product, which we believe will change the automation landscape. Every company has repetitive tasks that could be automated and few have the developer resource to make it happen.”

The founders began in June 2015 in Copenhagen, Denmark, after having worked for almost two decades in enterprise software and business-critical IT. They launched their first pilot in July 2016 and, after working with Global2000 pilot customers in the U.S. and Europe, went live with the Leapwork automation platform in March 2017.

Prior to this funding the company was bootstrapped by the founders, as both had previous successful exits.

Apr
14
2019
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Diving into Google Cloud Next and the future of the cloud ecosystem

Extra Crunch offers members the opportunity to tune into conference calls led and moderated by the TechCrunch writers you read every day. This week, TechCrunch’s Frederic Lardinois and Ron Miller offered up their analysis on the major announcements that came out of Google’s Cloud Next conference this past week, as well as their opinions on the outlook for the company going forward.

Google Cloud announced a series of products, packages and services that it believes will improve the company’s competitive position and differentiate itself from AWS and other peers. Frederic and Ron discuss all of Google’s most promising announcements, including its product for managing hybrid clouds, its new end-to-end AI platform, as well as the company’s heightened effort to improve customer service, communication, and ease-of-use.

“They have all of these AI and machine learning technologies, they have serverless technologies, they have containerization technologies — they have this whole range of technologies.

But it’s very difficult for the average company to take these technologies and know what to do with them, or to have the staff and the expertise to be able to make good use of them. So, the more they do things like this where they package them into products and make them much more accessible to the enterprise at large, the more successful that’s likely going to be because people can see how they can use these.

…Google does have thousands of engineers, and they have very smart people, but not every company does, and that’s the whole idea of the cloud. The cloud is supposed to take this stuff, put it together in such a way that you don’t have to be Google, or you don’t have to be Facebook, you don’t have to be Amazon, and you can take the same technology and put it to use in your company”

Image via Bryce Durbin / TechCrunch

Frederic and Ron dive deeper into how the new offerings may impact Google’s market share in the cloud ecosystem and which verticals represent the best opportunity for Google to win. The two also dig into the future of open source in cloud and how they see customer use cases for cloud infrastructure evolving.

For access to the full transcription and the call audio, and for the opportunity to participate in future conference calls, become a member of Extra Crunch. Learn more and try it for free. 

Apr
10
2019
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InVision announces new integrations with Jira

Today InVision announced even deeper integrations with Jira, letting users embed actual InVision prototypes right within a Jira ticket. The company also announced the Jira app for InVision Studio, letting designers in Studio see interactive Jira tickets in real time.

InVision has already had lighter integrations with Atlassian products, including Jira, Confluence and Trello. It’s also worth noting that Atlassian participated in InVision’s $115 million Series F funding round.

The partnership makes sense. Atlassian provides a parallel product to InVision, except instead of serving designers, Atlassian serves engineers.

But it brings up an interesting challenge for InVision, last valued at $1.9 billion. The company went from creating its own market with a paid prototyping and collaboration tool to competing with giants and startups alike as it introduced new products.

InVision Studio, for instance, is meant to compete with the likes of Adobe XD, Sketch, and Figma, among others.

At the same time, InVision’s strategy has always been to become a connective tissue for the broader design landscape. CEO Clark Valberg has said in the past that he sees InVision becoming the Salesforce of the design world, with a broad array of partnerships and integrations across the industry to handle each, nuanced fraction of the process in a single, fluid place.

“Up until now we’ve been a fairly horizontal player,” said VP of Product Mike Davidson. “We created the market for prototyping. There was no paid market for a prototyping tool until InVision came along. Now that you see us provide a more vertical stack of tools, we don’t want to lose the great thing we’ve built with the InVision Prototyping tool. It’s been more popular than we could have ever imagined.”

Davidson added that InVision now serves 100 of the Fortune 100 companies.

And since its launch in 2011, InVision has maintained that original strategic course of staying open, particularly with Atlassian. But InVision isn’t just friendly with Atlassian. The company also introduced an App Store and Asset Store in InVision Studio (partnerships include Slack, Dribbble, and Getty), with plans to launch a developer API so anyone can build apps for InVision Studio. Plus, InVision has made a handful of acquisitions, and launched the Design Forward Fund, which allocates $5 million toward investing in design startups.

VP of Partnerships and Community Mike Davidson believes that balancing this open garden philosophy with the desire to provide the very best products across the entire process (automatically putting InVision in competition with other design startups) is one of the company’s greatest challenges.

“We want to provide a first-cclass experience from beginning to end but we also want to provide a system that’s open enough where you can use your tool of choice for any one of the particular functions,” said Davidson. “It’s a difficult balance. We want to allow for designers and developers to choose which tools they use for whatever job they’re trying to do, but we also want to be the best choice for each one of those functions.”

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