Thursday, April 18, 2019

CloudBees acquires software automation startup Electric Cloud - VentureBeat

CloudBees acquires software automation startup Electric Cloud - VentureBeat


CloudBees acquires software automation startup Electric Cloud - VentureBeat

Posted: 18 Apr 2019 06:00 AM PDT

CloudBees, a San Jose, California-based software provider making DevOps solutions for enterprises, has nabbed a well-funded startup in the continuous app delivery, release, automation, and deployment space. At its CloudBees Days conference in San Francisco, the company today announced that it has acquired Electric Cloud to support its "wider strategy" in the software delivery management category.

Terms of the deal were not disclosed.

"As of today, we provide customers with best-of-breed CI/CD software from a single vendor, establishing CloudBees as a continuous delivery powerhouse," CEO and cofounder Sacha Labourey said in a statement. "By combining the strength of CloudBees, Electric Cloud, Jenkins, and Jenkins X, CloudBees offers the best CI/CD solution for any application, from classic to Kubernetes, on-premise to cloud, self-managed to self-service."

Electric Cloud's release management, orchestration, and automation platform enables customers like Samsung, E-Trade, GM, and Hyundai to marry app deployments with the concept of a continuous software delivery pipeline. The company's ElasticFlow product, for example, allows dev teams to control releases "at scale" by sharing adaptable pipelines and delivering actionable insights into the status of releases. Meanwhile, ElectricAccelerator speeds up app-building and testing by intelligently parallelizing tasks across on-premises and cloud processors.

Electric Cloud raised $64.6 million prior to its exit from Siemens' Venture Capital, US Venture Partners, Mayfield Fund, RRE Ventures, Rembrandt Venture Partners, and other investors.

"We are looking forward to joining CloudBees and executing on our shared goal of helping customers build software that matters," said Electric Cloud CEO Carmine Napolitano. "The combination of CloudBees' industry-leading continuous integration and continuous delivery platform, along with Electric Cloud's industry-leading application release orchestration solution, gives our customers the best foundation for releasing apps at any speed the business demands."

CloudBees was founded in 2010 by former JBoss CTO Sacha Labourey and provides enterprise support around Jenkins, an open source automation server written in Java that runs in serverlet containers such as Apache Tomcat. It offers plugins and a cloud-based Jenkins service for customers like Hyatt, Cisco, EMC, and the Federal Reserve and has attracted $113.2 million in venture funding to date from backers that include Matrix Partners, Lightspeed Venture Partners, Verizon Ventures, Delta-v Capital, Golub Capital, and Unusual Ventures.

"Having the Electric Cloud offerings under the CloudBees umbrella gives companies a greater ability to manage the delivery of value to customers," said Christina Noren, chief product officer at CloudBees. "It's not just about speed — it's about delivering business value securely and efficiently with confidence at high speeds. By combining our strengths, we will provide customers with a software delivery system that helps them connect and measure all end-to-end activities, from development all the way through to deployment and release."

CloudBees competes with a number of PaaS vendors in a sector that's on the upswing. There's Red Hat's OpenShift and Salesforce's Heroku, as well as Cloud Foundry and Apprenda — not to mention Engine Yard and Stackato. According to Statista, the market grew from $283 million in 2010 to $8.6 billion in 2018.

Today's news follows CloudBee's acquisition of DevOps and continuous integration and delivery firm Codeship last year and comes after it scooped up Stax Networks, a Java platform-as-a-service solutions provider, in December 2010.

Sign up for Funding Daily: Get the latest news in your inbox every weekday.

This Denmark startup makes software robots to handle repetitive and mundane tasks to make companies efficient - Silicon Canals

Posted: 17 Apr 2019 01:39 AM PDT

This article will take you 3 minute(s) to read

A few years back the word 'automation' was tightly associated with robots replacing human labour with machine labour. While its the perfect example, there are other forms of automation as well ranging from as small as software application to huge self-driving cars.

Recently, LEAPWORK, the company that makes workplace automation accessible, raised an Series A investment of $10 million (approx €8.8M), from DN Capital and e.ventures. The company is planning to use its first outside investment, to accelerate product development and expand its sales operation in the US.

LEAPWORK grew by more than 450 percent last year!

Founded in 2015 and launched in April 2017, LEAPWORK is transforming work on a global scale by making process automation accessible to any employee, using its entire visual system, backed by a modern tech stack. Instead of using hours of developer time, staff can automate tasks themselves, without writing any code, thanks to the simple user interface.

Notably, the system is as easy to learn as Powerpoint or Excel and allows clients to accomplish more with less resource, lower their costs and reduce risks. With this platform, the customers are seeing an average time saving of 75 percent. Based in Copenhagen, Denmark, the company has offices in London, UK, San Francisco, USA, Minsk, Belarus, and Gurugram, India.

Future of work is automation

"We created LEAPWORK because we believe the future of work is using the power of automation to work better, together. This matters because it impacts us all, whether it's by increasing our productivity or increasing our job satisfaction," says Christian Brink Frederiksen, LEAPWORK's CEO and co-founder. "About half of our business comes from the US and this investment will enable us to serve those customers better as well as reaching new ones."

Claus Topholt, CTO and co-founder, says:

Our unique visual technology and smart algorithms are a game changer because they enable the users with the most relevant business knowledge to easily create automated workflows themselves, even where they personally don't have coding knowledge.

Thomas Rubens, of DN Capital, says:

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. LEAPWORK solves that by making automation easy for any employee. We're excited to watch them grow.

Christian Miele, of e.ventures, says:

We felt intrigued when we first met Christian and Claus. Their vision of making it possible for non-technical people to easily automate processes convinced us right away. Given that LEAPWORK has been bootstrapped to this point and has shown massive traction at this stage of the company, we are really happy to partner with such an exceptional team.

Stay tuned to Silicon Canals for more updates in the tech startup world.

This Dutch startup has a solution to predict avalanches, using drones

IT ticketing software startup Halp raises $2.6M - BusinessDen

Posted: 17 Apr 2019 04:31 AM PDT

Halp helps IT professionals organize and prioritize the tech support requests through the instant messaging software Slack. (Screenshot)

Fletcher Richman just made fundraising in Colorado look easy.

The co-founder and CEO of Halp, an IT ticketing software startup, just closed a $2.6 million round of seed funding. But he said he had enough people interested to raise $4 million or $5 million, and he was able to choose his investors.

"I think we had a pretty unique experience," Richman said. "I think total time was 45 days, from initial to close."

Halp, previously known as BubbleIQ, helps IT professionals organize and prioritize the tech support requests through the instant messaging software Slack. At large companies, employees can send a message through Slack that their printer is not working, for example. IT workers can then answer, prioritize and get the problem fixed through Slack, instead of email or other software products.

CEO Fletcher Richman.

"As employees have moved their communication out of email, the way they communicate with it has changed," Richman said. "These IT teams have hundreds of DMs every day. There's no way for them to track it or prioritize it."

The company participated in Boulder's Techstars program last year. Halp's most recent round of funding came from Techstars Ventures, Access Venture Partners and Slack Fund, among other investors. Kokopelli Capital, a fund that Richman helps run, also participated.

"A lot of it's going to building out the team," Richman said. "We'll probably grow up to be 15 or 20 with this round."

Richman said Halp had six employees before the round of funding closed. The startup signed a lease on a new 2,000-square-foot office at 1515 Walnut St. in Boulder this month.

"I think the general goal for me with any round of funding, we want to be in the position where we have enough revenue where we're at that break-even point," Richman said.

Richman, a Colorado native, attended CU Boulder and graduated with a degree in electrical and computer engineering in 2014. He worked at PivotDesk and Galvanize Venture Fund before founding Halp in 2017.

"I've always been passionate about productivity," Richman said. "I've always been a fan of Slack … I knew there would be opportunities to rethink the way people use these tools. We started building stuff on top of Slack. We started throwing things at the wall until we landed into ticketing."

Richman said Halp charges $25 per agent per month, and the company's customers include Strava, Adobe and Paylocity.

Richman thinks that his most recent round of funding is a good indicator that Colorado entrepreneurs now have more investors willing to invest $500,000 or more in early-stage startups.

"I think we're going to start seeing more competitive seed rounds," he said.

$12M Kleiner Perkins-Led Series A Propels STORD's Enterprise Push - hypepotamus.com

Posted: 18 Apr 2019 04:30 AM PDT

Details have emerged about supply chain software startup STORD's latest funding round, a $12.3 million Series A. The round was led by Silicon Valley venture firm Kleiner Perkins and included existing investors Susa Ventures and Dynamo, along with Ionic Security founder Adam Ghetti, Service Provider Capital, and Tom Noonan of TechOperators.

One of the largest VC funds in the country, Kleiner Perkin's portfolio alumni include names such as Amazon, Google, Twitter and Square. The firm also backs Ionic and was one of the first investors in Internet Security Systems, Noonan's former company that sold to IBM in 2007.

stord"It's important to our customers that we balance tech high-growth with stable logistics experience," Sean Henry, STORD's co-founder and CEO, tells Hypepotamus. "With their history, Kleiner is one of those names that really aligns with our enterprise clients."

With this fundraise, Kleiner Perkins partner Ilya Fushman has joined STORD's board of directors. Along with helping to build Dropbox, Fushman has experience investing in logistics companies, including an early investment in software startup KeepTruckin.

"[Fushman] also has a lot of experience up-selling customers, which is really our strategy," says Henry. "We get in with an enterprise on a small buy and then they see our value through the whole organization." Henry says they grew existing customer business by over 2,000 percent in 2018.

Henry and co-founder Jacob Boudreau founded the company in 2016 when the two were still in their teens. After going through the logistics-focused Dynamo accelerator in Chattanooga, the founders learned how shippers, who increasingly must compete with the last-mile supply chain dominance of Amazon, struggle with inefficient and siloed warehouse operations.

The majority of shippers store their assets in rented warehouse space managed by third-party agencies. The problem is, these agencies all have different systems to manage operations, leaving companies with disparate tracking and data about where all of their assets are at any time — and losing them a lot of money and time in the process.

STORD comes in as a universal backend, streamlining and aggregating the operations of independent warehouse operators. Businesses who partner with STORD can then access this network of warehouses across the country.

But no, it is not the "Airbnb for warehouses." STORD calls their process "networked distribution," differentiating the service from companies that provide on-demand, temporary storage.

For enterprise clients — of which they now count more than five Fortune 500s and two Fortune 100s — STORD's software fully optimizes their entire storage and supply chain operations. They can look at where the company is storing products and move them closer to their final destination, ensure warehouse space doesn't sit empty, provide a clearer picture of asset tracking and movement, and ensure warehouse operators don't lose money on idle time.

"Enterprises are really looking for us to bring insight, visibility, and control to their warehousing. They don't want to be using pen and paper tracking," Henry told Hypepotamus in an interview last year. He explains that, although much of their recent product development was not in the initial roadmap, they have expanded where the customer needed them.

The company has even forayed into freight, integrating their system with truck tracking software to ensure assets get from point A to B as quickly and efficiently as possible.

"Taking a customer-centric approach, if we don't deviate from our core mission… we should address all the pain points they're facing," says Henry. "Freight touches every part of the supply chain."

That customer-centric approach also means STORD offers another solution to the minority of enterprises that operate their own warehouses: plugging the software into the company's existing warehouse network so they can optimize the supply chain themselves.

STORD reports impressive results: they have grown revenue by 10x in the last year, expanding from five employees at the start of 2018 to 30 now. They moved into an office in Midtown and plan to hire another 50 this year, primarily in technology and product.

Henry says they had a "significant amount of runway" from their last funding round, a $2.4 million seed a year ago. But with several large clients in their pipeline and demand continuing to grow, he wanted to move faster.

They will now focus on improving their software platform, connecting with more enterprises, and of course, hiring.

Wayne Jackson: Sonatype CEO reveals his tips for raising finance - Business Insider

Posted: 18 Apr 2019 06:35 AM PDT

Wayne Jackson has sat through a lot of funding meetings.

The CEO of software security firm Sonatype sold his original wireless infrastructure startup, Riverbed Technologies, for $1 billion in 2000; oversaw network security firm Sourcefire's $70 million IPO in 2007; and raised $80 million for Sonatype last September in a funding round led by TPG Capital.

Although Sonatype does not publicly discuss its valuation, it has raised $154.7 million since it was founded in 2008. Jackson has served as CEO since 2010.

Read more: A CEO who sold a startup for $1 billion, led a big IPO for another, and raised $80 million for a 3rd shares some simple advice on building a tech unicorn

Speaking to Business Insider, Jackson has previously said finding niche and superserving a specific market is important for a tech startup. It's an idea beloved by some of the most successful venture-capital investors in tech, who call it "product-market fit."

Now, Jackson has shared some of his secrets on raising finance. We have collected them into four clear areas, with his advice edited lightly for clarity. Read on for Jackson's top tips for raising money.

1. Get concrete proof of customer interest

"What it takes to raise money as an entrepreneur depends to an absurd degree on prior experiences. You have so much to prove in terms of reliability, in terms of efficiency, in terms of gravitas. But, saying that, you don't need to be an entertainer to be an entrepreneur.

"I'm not sure Bill Gates or or Steve Wozniak were the most engaging guys when they were 22. But what they were able to do is demonstrate a functional fulfilment of a need.

"VCs can string you along — what they need to see is concrete proof of customer interest. Getting funding before you get customers to write you cheques is extremely tough, maybe impossible.

"But as a CEO, the one thing I obsess over every day is what we're hearing from customers. Not just what they say on the face of things, but what they're really saying. As a CEO, you need to be empathetic and really listen."

"You also need to reflect on the scope of your own authority. If a customer says 'can you sort this,' don't just blindly say yes because you're the CEO. Think about whether their request is necessarily something you can feasibly deal with."

2. Keep investors informed - even when you don't need their money

"You need to establish a number of high-quality relationships with investors and keep them informed - even when you don't need money, perhaps especially when you don't need money."

"I hate to say it's easy for entrepreneurs who've delivered before, but it is. When I was raising for Sonatype, we had no real business plan, but I spoke to an investor I knew well at Goldman Sachs, well we decided to roll. If you can get to know and trust someone, fundraising doesn't need to be impossible.

"I found people willing to spend time on Sonatype. Find people who are smarter than yourself who are willing to share their time and knowledge, and cultivate that time and knowledge. Really get to know people at a deep level.

"Ideally, what a new entrepreneur should do is create a little bit of buying pressure between potential investors. So, use the momentum you develop with one angel to force other angels to invest."

3. Strike a balance between purism and pragmatism

"I'm not sure anyone knows what the software security landscape will be like in 10 years. It used to be the case that no software was open-source — now it's 80-90%. You also have hackers infiltrating entire projects today by pretending to offer valid services — they're like the Trojan horse. That never used to be the case."

"So don't be instinctively resistant to shifts in the tech landscape that can be reality-altering. It can be easy to get attached to one particular technology or one particular way of viewing technology, but you need to be adaptable and bend your views to match present-day reality. When the first Fords came along, many people clung to horses and carriages.

"A mistake I'm inclined to make is to stay too faithful to specific technologies as opposed to bending it to serve the needs of the company or the direction of the market.

"I have been interested in technology for its own sake since a young age; I have been developing software since my late teens. So I instinctively don't like bastardising my ideas. But you often have to do so if you want to gain investment. It's about striking the right balance between purism and pragmatism."

4. Accept that setbacks are inevitable

"If you're going to found a tech startup, you have to go into it knowing that there are highs and lows. Investors invest based on your ability to deal with setbacks.

"People think Sourcefire [a tech firm Jackson led through a successful IPO in 2007] was just a company that had it easy, but that couldn't be further from the truth.

"When I was at Sourcefire, I read a report from [the consulting firm] Gartner, which proclaimed the intrusion detection industry to be dead. The report advised investors that they would be better off spending their money anywhere else. Naturally, intrusion detection was exactly what we specialised in.

"First, we had our teenage tantrum — Gartner had just written off our entire enterprise. But after that, we said, ok, look, let's find out why Gartner think this. They're not idiots. We assessed their report and saw there was a reasonable logic to what they were saying.

"Ultimately, what we did next was a classic example of the principle I mentioned earlier: we bent our ideals to meet market needs. Two years later, we were at the top of Gartner's index."

No comments:

Post a Comment