Oct
28

Welcome to the Jungle raises $22.3 million to make recruitment easier

French startup Welcome to the Jungle has raised a new $22.3 million funding round (€20 million). The startup is both a media company and a tech startup that wants to empower tech companies when it comes to recruitment. It doesn’t find the right candidate for you, it helps you get exposure, track application and facilitate onboarding.

Gaia Capital Partners is leading the round, with existing investors Bpifance, XAnge and Jean-Paul Guisset also participating. With today’s funding round, the company wants to expand to more countries and develop new products.

This is also Gaia Capital Partners’ first investment. The firm raised a $110 million fund (€100 million) with around 40 limited partners, such as Sycomore Asset Management, Generali Investments and Bpifrance. The growth fund, headed by Alice Albizzati and Elina Berrebi, is going to focus on companies that have a positive environmental or societal impact at Series B-stage and above.

Welcome to the Jungle is currently available in France, Spain and Czech Republic. Up next, the company is going to open offices in Germany and the U.K.

The company works with photographers and a video crew to create high-quality profiles of other companies that are actively recruiting. This way, potential candidates can browse those profiles, learn more about companies and make up their mind.

Companies pay for those profiles to improve their branding, especially when it comes to recruitment. And it seems to be working well, as there are now over 2,500 clients, including 250 in Spain and 100 in Czech Republic.

More recently, Welcome to the Jungle has started to expand beyond those showcases to tackle the recruitment process at large. The startup launched Welcome Kit, an applicant tracking system to manage job offers and take care of job applications.

With Welcome Kit, you can design a career site, write job postings and create application forms. Your recruitment team then receives applications, comments and collaborates with the rest of the team, sends emails using templates and more.

Four thousand companies are using Welcome Kit. Collectively, they have posted about 150,000 job offers and received 2.5 million applications.

And now, Welcome to the Jungle is about to launch Welcome Home, the startup’s take on the good ol’ intranet. The company realized that too many people who join a company don’t feel at home right away. And some people will even quit just a couple of months after joining a company.

You will be able to create an employee directory, post company-wide announcements and get information using Welcome Home. All of this should help create a more welcoming environment for newcomers.

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Oct
27

Catching Up On Readings: Top 10 Tech Trends 2020 - Sramana Mitra

This feature from Gartner looks at the top 10 strategy technology trends for 2020. For this week’s posts, click on the paragraph links. Tech Posts Atlassian Acquires Again From App Marketplace Time...

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Original author: jyotsna popuri

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Jan
23

How to change your default Google account in any browser, using a PC or Mac computer

Sramana Mitra: I still go back to the gender question though. It’s not entirely invalid. If you’re a man, unless you’re a transgender, you’re most likely not wearing women’s clothes. You may have...

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Original author: Sramana Mitra

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Jan
21

Cynicism in Silicon Valley

Gary Saarenvirta: We have a theory for retail. We have partial differential equations (PDEs) that govern insurance and risk industries. We simulate with our PDEs. You simulate what is going to happen...

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Original author: Sramana Mitra

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Feb
05

German drone delivery trial paves the way to replacing trucks for inter-office deliveries

Weave, a developer of patient communications software focused on the dental and optometry market, was the first Utah-headquartered company to graduate from Y Combinator, in 2014. Now, it’s poised to enter a small but growing class of startups in the “Silicon Slopes” to garner “unicorn” status.

The business announced a $70 million Series D last week at a valuation of $970 million. Tiger Global Management led the round, with participation from existing backers Catalyst Investors, Bessemer Venture Partners, Crosslink Capital, Pelion Venture Partners and LeadEdge Capital.

The company was founded in 2011 and fully bootstrapped until enrolling in the Silicon Valley accelerator program five years ago. Since then, it has raised a total of $156 million in private funding, tripling its valuation with the latest infusion of capital.

“Our aim with this funding round is to exceed our customers’ expectations at every touchpoint, investing heavily in the products we create, the markets we serve and the overall customer experience we provide,” Weave co-founder and chief executive officer Brandon Rodman said in a statement. “We will continue to invest in our customers, our products and our people to build a solid, sustainable, and scalable business.”

Weave charges its customers, small and medium-sized businesses, upwards of $500 per month for access to its Voice over IP-based unified communications service. Rodman previously launched a scheduling service for dentists and realized the opportunity to integrate texting, phone service, fax and reviews to facilitate the patient-provider relationship.

While his second effort, Weave, has long been targeting the dentistry and optometry market, Rodman told Venture Beat last year the opportunities for the company are endless: “Ultimately, if a business needs to communicate with their customer, we see that as a possible future customer of Weave.”

Based in Lehi, Weave added 250 employees this year, with total headcount now reaching 550. The company claims to have doubled its revenue in 2018, too. While we don’t have any real insight into its financials, given the interest it has garnered amongst Bay Area investors, we’re guessing it’s posting some pretty attractive numbers.

“Weave has some of the best retention numbers we’ve ever seen for an SMB SaaS company,” Catalyst partner Tyler Newton said in a statement. “We’re continually impressed by their accelerated growth and results.”

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Oct
27

October 30 – Rendezvous Meetup to Discuss the Probability of Raising Funds for Your Startup - Sramana Mitra

For entrepreneurs interested to meet and chat with Sramana Mitra in person, please join us for our bi-monthly and informal group meetups. If you are living in the San Francisco Bay Area or are just...

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Original author: Maureen Kelly

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Nov
28

How an IT Services Startup Wants to Disrupt Itself in the AI Era: Sanjay Jupudi, CEO of Qentelli (Part 3) - Sramana Mitra

Zamna — which uses a blockchain to securely share and verify data between airlines and travel authorities to check passenger identities — has raised a $5 million seed funding round led by VC firms LocalGlobe and Oxford Capital, alongside Seedcamp, the London Co-Investment Fund (LCIF), Telefonica and a number of angel investors.

Participation has also come from existing investor IAG (International Airlines Group), which is now its first commercial client. The company also changed its name from VChain Technology to Zamna .

When VChain-now-Zamna first appeared, I must admit I was confused. Using blockchain to verify passenger data seemed like a hammer to crack a nut. But it turns out to have some surprisingly useful applications.

The idea is to use it to verify and connect the passenger data sets which are currently siloed between airlines, governments and security agencies. By doing this, says Zamna, you can reduce the need for manual or other checks by up to 90%. If that’s the case, then it’s quite a leap in efficiency.

In theory, as more passenger identities are verified digitally over time and shared securely between parties, using a blockchain in the middle to maintain data security and passenger privacy, the airport security process could become virtually seamless and allow passengers to sail through airports without needing physical documentation or repeated ID checks. Sounds good to me.

Zamna says its proprietary Advance Passenger Information (API) validation platform for biographic and biometric data is already being deployed by some airlines and immigration authorities. It recently started working with Emirates Airline and the UAE’s General Directorate of Residency and Foreigners (GDRFA) to deliver check-in and transit checks.

Here’s how it works: Zamna’s platform is built on algorithms that check the accuracy of Advanced Passenger Information or biometric data, without having to share any of that data with third parties, because it attaches an anonymous token to the already verified data. Airlines, airports and governments can then access that secure, immutable and distributed network of validated tokens without having actually needing to “see” the data an agency, or competing airline, holds. Zamna’s technology can then be used by any of these parties to validate passengers’ biographic and biometric data, using cryptography to check you are who you say you are.

So, what was wrong with the previous security measures in airports for airlines and border control that Zamna might be fixing?

Speaking to TechCrunch, Irra Ariella Khi, co-founder and CEO of Zamna, says: “There is a preconception that when you arrive at the airport somehow — as if by magic — the airline knows who you are, the security agencies know who you are and the governments of departure and destination both know that you are flying between their countries and have established that it is both legitimate and secure for you to do so. You may even assume that the respective security authorities have exchanged some intelligence about you as a passenger, to establish that both you and your fellow passengers are safe to board the same plane.”

“However,” she says, “the reality is far from this. There is no easy and secure way for airlines and government agencies to share or cross-reference your data — which remains siloed (for valid data protection reasons). They must, therefore, repeat manual one-off data checks each time you travel. Even if you have provided your identity data and checked-in in advance, and if you travel from the same airport on the same airline many times over, you will find that you are still subject to the same one-off passenger processing (which you have probably already experienced many times before). Importantly, there is an ‘identity verification event,’ whereby the airline must check both the document of identity which you carry, as well as establish that it belongs to your physical identity.”

There are three main trends in this space. Governments are demanding more accurate passenger data from airlines (for both departure and destination) — and increasing the regulatory fines imposed for incorrect data provided to them by the airlines. Secondly, airlines also have to manage the repatriation of passengers and luggage if they are refused entry by a government due to incorrect data, which is costly. And thirdly, ETA (electronic transit authorizations, such as eVisas) are on the rise, and governments and airlines will need to satisfy themselves that a passenger’s data matches exactly that of their relevant ETA in order to establish that they have the correct status to travel. This is the case with ESTAs for all U.S.-bound travelers. Many other countries have similar requirements. Critically for U.K. travelers, this will also be the case for all passengers traveling into Europe under the incoming ETIAS regulations.

The upshot is that airlines are imposing increased document and identity checks at the airports — regardless of whether the passenger has been a regular flier, and irrespective of whether they have checked-in in advance.

Zamna’s data verification platform pulls together multiple stakeholders (airlines, governments, security agencies) with a way to validate and revalidate passenger identity and data (both biographic and biometric), and to securely establish data ownership — before passengers arrive at the airport.

It doesn’t require any new infrastructure at the airport, and none of these entities have to share data, because the “sharing without sharing” is performed by Zamna’s blockchain platform in the middle of all the data sources.

Remus Brett, partner at LocalGlobe, says: “With passenger numbers expected to double in the next 20 years, new technology-driven solutions are the only way airlines, airports and governments will be able to cope. We’re delighted to be working with the Zamna team and believe they can play a key role in addressing these challenges.” Dupsy Abiola, Global Head of Innovation at International Airlines Group, adds: “Zamna is working with IAG on a digital transformation project involving British Airways and the other IAG carriers. It’s very exciting.”

Zamna is a strategic partner to the International Air Transport Association (IATA) and an active member of IATA’s “One ID” working group.

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Oct
26

Jules Pieri Advice For Fathers of Daughters

At the Authors and Innovators event, the last panel included a discussion about diversity, with a particular focus on gender diversity. The actual segment was titled Success through Strategic Innovation but it was awesome to watch it evolve into a gender diversity conversation.

One of the panelists was Jules Pieri, who is the founder/CEO of The Grommet. I’ve known Jules for a while and loved her book How We Make Stuff Now: Turn Ideas into Products That Build Successful Businesses. As she usually is, she was great on the panel and when it shifted to Q&A, I asked the second question.

“Lots of men in the audience, like me, try to be helpful around gender diversity, especially now that there is a good understanding of the value of being a ‘male ally’ and how to do it. Can you give us one actional thing we can do right now?”

Jules responded immediately with something close to:

“While I feel a little uncomfortable referring to something I wrote, go read my post For Fathers of Daughters. It has easy, medium, and hard level of efforts of things you can do.”

I took a note to read the post and just read it. Jules is 100% right – go read the post For Fathers of Daughters right now. If you have a daughter, go read it. But also go read it if you don’t have a daughter.

There are some real gems in it including several things I’m going to add to my personal list of things to do, even though I don’t have kids.

Original author: Brad Feld

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Oct
26

Colors: Early Morning, New England Fall - Sramana Mitra

I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I...

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Original author: Sramana Mitra

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Oct
26

October 31 – 463rd 1Mby1M Mentoring Roundtable for Entrepreneurs - Sramana Mitra

Entrepreneurs are invited to the 463rd FREE online 1Mby1M mentoring roundtable on Thursday, October 31, 2019, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. If you are a serious...

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Original author: Maureen Kelly

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Oct
26

Roundtable Recap: October 24 – Do Not Spray and Pray - Sramana Mitra

During this week’s roundtable, we had three pitches. Ederlabs Up first, we had Sharat Satyanarayana from Bangalore, India, pitch Ederlabs, an AI data privacy protection startup that is in the 1Mby1M...

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Original author: Sramana Mitra

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Jan
21

Snyk snags $150M investment as its valuation surpasses $1B

Sramana Mitra: It’s consumer-facing merchandising. You’re not driving the ordering of inventory? Gary Saarenvirta: We do decide that also. We set the prices and we also do inventory forecasting and...

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Original author: Sramana Mitra

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May
11

Uber had the worst first-day dollar loss ever of any US IPO

Sramana Mitra: In 1999, I started one of the first ever online fashion company. A very small subset of merchandise applies to me in a store. I’m a petite, dark-skinned woman with dark hair and...

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Original author: Sramana Mitra

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Oct
25

Meet Bespoke Financial, a lender for cannabis companies backed by Snoop Dogg’s Casa Verde Capital

Bespoke Financial wants to provide cannabis businesses with the same kind of financial services that other businesses get, but that dispensaries and growers can’t yet access.

The regulations around cannabis operations are so stringent at the local level — and so nebulous at the federal level — that national banks won’t give businesses in the cannabis industry the same basic services (like short-term loans).

That’s why one former Goldman Sachs banker has partnered with two entrepreneurs from the traditional agriculture industry to create Bespoke Financial. And it’s why the company has raised $7 million in financing led by Casa Verde Capital — the investment firm launched by legendary cannabis aficionado, Calvin Broadus (AKA Snoop Dogg).

In some ways, George Mancheril is the new face of the cannabis business. The former banker hails from Goldman Sachs and Guggenheim Partners and worked on the desks that dealt with alternative lending.

A transplant to Los Angeles roughly six years ago, Mancheril says he saw the migration of legally sanctioned cannabis begin for recreational use and knew there would be opportunities for new lending businesses.

“Cannabis will become a broad, mature industry just like any other, and if that is going to happen, there needs to be a debt structure that can support that,” Mancheril says.

The biggest impediment to the industry’s growth is the one that Bespoke Financial wants to tackle first — and that’s access to debt.

To build the company’s first product, Mancheril looked to his co-founder’s Pablo Borquez-Schwarzbeck and Benjamin Dusastre. Borquez-Schwarzbeck and Dusastre previously launched ProducePay, a fintech platform focused on produce farmers that has financed roughly $2 billion in perishable commodities throughout 13 countries. It’s backed by around $200 million in venture capital and debt financing.  

What Mancheril and his co-founders have done is take ProducePay’s underwriting model and apply it to the cannabis industry. The financial instrument that they’re starting with is known “in the business” as factoring.

It’s basically advancing money to businesses for a contract that’s signed in exchange for a cut of the money once a company gets paid for the goods or services they’ve rendered.

“While the US legal cannabis market is forecasted to grow over 20% annually, reaching $23B by 2022, the industry’s true growth potential is limited by long cash flow cycles throughout the supply chain and a lack of scalable and efficient capital sources,” says Bespoke Financial co-founder and chief executive, George Mancheril, in a statement. “Our approach will dramatically improve cash flow cycles across the supply chain and provide scalable working capital to fuel our clients’ growth.”

The $7 million infusion from investors, including Casa Verde, Greenhouse Capital Partners and Outbound Ventures, will be used to build out the company’s business and establish its first credit lines with customers. Mancheril says it already has around $3 million worth of loans revolving through its business. Right now, the company is focused on California, but says it could expand to other regions that are embracing legalization. 

“In general, in the cannabis industry overall, it’s difficult to access any part of the financial system,” says Karan Wadhera, a managing director at Casa Verde. “Now that we’re moving into a place where equity financing is getting expensive, a company like Bespoke plays an important and valuable role in the ecosystem to help young brands and mature brands get access to working capital when they need it the most.”

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May
11

The Uber strike should worry investors and the company because it points to a fundamental problem with its business model (LYFT)

Gary is implementing AI concepts from his Aerospace industry background onto use cases in retail and insurance. Sramana Mitra: Let’s start by introducing you and Daisy Intelligence.  Gary...

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Original author: Sramana Mitra

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Oct
25

Best of Bootstrapping: Bootstrapping a Two-Sided Marketplace to $10M - Sramana Mitra

CEO Sal Akbani has bootstrapped Gateway Classic Cars to over $10 million in revenue. This is a great story of how a two-sided marketplace was masterfully seeded and scaled in a niche market. Sramana...

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Original author: Sramana Mitra

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Oct
25

Growth is out, profitability is in

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This week Kate and Alex held the reins as a duo (check out our chat with Greylock’s Sarah Guo from last week here) to dig into an enormous raft of news. And don’t worry, it’s not all late-stage happenings. We’re discussing early-stage news every week because that’s what the listeners want!

Up top we dug into Kate’s excellent work covering the Superhuman founder’s new micro fund, or at least his attempt at raising such a fund. Our main question is how can he be a good VC and a good executive at the same time? Folks don’t tend to do both at the same time because they’re each more than full-time jobs. Having two such gigs sounds hard.

But hey, it’s not just athletes and musicians who can bring outsized interest to deals. In-demand founders can have a similar effect. We’ll be keeping a close eye on the upcoming fun. Moving on. 

Next, we turned to the other end of the venture landscape, looking at Founders Fund’s new capital vehicles. With a combined $2.7 billion in eventual capital, FF is hoping to build a financial redoubt from which they can rain capital down on late-stage targets, wherever they may be.

Is it a bit late in the cycle to cut late-stage checks to companies that might otherwise go public? That’s the gamble so far, as we can see it, but perhaps with WeWork’s IPO dreams turned to nightmares, there’s demand among a group of companies for another 12 months in the private markets. And that means more money is required.

On the theme of more money, Lime is raising some more and we were treated to new financial results from The Information’s great work getting the figures. Our discussion asked the question of how far the company’s unit economics could improve. Kate said that Lime is investing a lot now in developing better hardware so their scooters can last more than five minutes on the roads before breaking down. She thinks things will start looking up when it’s deploying only new, fancy, good scooters. Alex is bearish.

Before we could turn back to the early-stage market and wrap up, we had to cover the latest from WeWork. SoftBank did, in the end, come and save the day (at least for now) for the company, meaning that WeWork lives on, though layoffs are expected sooner rather than later. Who knows what the future holds…

And finally, Vendr, a company that is profitable, raised a $2 million round. This is interesting because, again, it’s profitable! And the startup willingly shared some financial data with us — a rarity. Read more about the recent Y Combinator graduate here.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts.

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Oct
25

Investors Expect More From Microsoft’s Cloud - Sramana Mitra

According to Canalys, the worldwide spending on cloud infrastructure services grew 38% over the year in the second quarter of the year to $26.3 billion. Amazon remains the leader in the market with a...

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Original author: MitraSramana

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Oct
25

Innovation Women

I’m at the Authors and Innovations Business Ideas Festival in Boston put on by Larry Gennari. It’s a neat collection of people who are interested in entrepreneurship, innovation, and books, three topics that I love so I’m having a lot of fun.

I ran into Bobbie Carlton, who I met a number of years ago around Startup America stuff and then again at an event at 1871 in Chicago when I released my book Startup Communities.

Bobbie is running an organization called Innovation Women which is an online speaker’s bureau for entrepreneurial and technical women. In addition to being an entrepreneur herself, she’s helping women get more visibility as entrepreneurs through her business.

There’s something that gives me great joy about the random connections with people over a long period of time. While I haven’t worked closely with Bobbie, running into her for a third time in around a decade at different in contexts that are interesting to me, causes me to want to put some effort into finding ways to work together.

I’m personally done with being on ManPanels so if you are a conference organizer looking to get more women involved as speakers at your conference, take a look at the speakers at Innovation Women.

Original author: Brad Feld

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Nov
01

Loud man yells until Bugsnax studio adds trophies to its DLC

HowNow, the workforce learning platform, has raised $3 million (£2.4 million) in a “pre-series A” funding round. The round is led by Mark Pearson’s Fuel Ventures and brings the total raised by the startup to $4.5 million.

Other investors include Andy Murray OBE; Michael Whitfield and Chris Bruce (founders of Thomsons Online Benefits); Bernie Sinniah (former managing director at Citi Bank); and Alwin Magimay (a former partner at McKinsey).

Designed for organisations that want to support teams with self-directed learning and the development of “business-critical” skills, HowNow is described as an integrated learning platform that autonomously curates learning resources, “business intelligence” and market insights that live in various internal and external sources.

The idea is to bring together these different learning resources — ranging from “nuggets” of knowledge shared by existing employees to internal data to external content libraries, blogs and podcasts — and match these to different job descriptions and employee skill-sets.

This is powered by a browser extension and integrations with Slack, Salesforce, HubSpot and more than 300 other apps. Machine-learning is also employed to push the right content to the right employee.

“Employers can also use HowNow to identify skills gaps within the company based on job market data, via HowNow’s real-time analytics and built-in certification,” adds the company. To achieve this, the platform claims to monitor more than 20,000 job specifications to understand the in-demand skills and requirements companies are searching for.

“Based on self-review, peer-review and real-time job market data we build the user’s skill profile as they onboard the platform,” explains HowNow co-founder and CEO Nelson Sivalingam. “Once in HowNow, they see learning recommendations based on assigned learning pathways, their role, skill requirements and internal benchmarks. This content is brought together from a variety of their internal sources (G Drive, Sharepoint, CRM, etc.), external sources (content libraries, blogs, podcasts, etc.) and the autonomously organised knowledge shared by their peers directly on HowNow.”

Employees can then access these learning resources directly within the applications they already work with and receive contextually relevant suggestions powered by HowNow’s “AI.” “For example, they can be in Slack and search all of their learning resources directly from their using the HowNow Slack app,” says Sivalingam. “They can also convert a message from a colleague into a nugget that will get stored and autonomously organised in HowNow.”

Similarly, Sivalingam says that, via HowNow, client-facing teams are able to access up-to-date product knowledge, business intelligence and market insights directly within their inbox, CRM and help desk, which enables them to reduce customer response times.

“Fast-growing companies like GymShark are able to capture the knowledge in the heads of their internal subject matter experts by giving them a quick and easy way to share knowledge, build a glue between scattered content, avoid repeat questions and get everyone on the same page,” he adds.

To that end, I’m told that more than 500,000 users currently use HowNow within over 125 businesses. These range from SMEs to larger organisations, across 14 different countries. A classic SaaS play, the startup generates revenue through a licence fee per user.

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