Nov
08

League of Legends Worlds 2022 peaks at 5.15M viewers

LogDNA, a startup that helps DevOps teams dig through their log data to find issues, announced a $25 million Series C investment today along with the promotion of industry vet Tucker Callaway to CEO.

Let’s start with the funding. Emergence Capital led the round with participation from previous investors Initialized Capital and Providence Equity. New investors TI Platform Management, Radianx Capital, Top Tier Capital and Trend Forward Capital also joined the round. Today’s investment brings the total raised to $60 million, according to the company.

Current CEO and co-founder Chris Nguyen says the company provides a centralized way to manage log data for DevOps teams with an eye toward troubleshooting issues and getting applications out faster.

New CEO Callaway, whose background includes executive stints at Chef and Sauce Labs, came on board in January as president and CRO with an eye toward moving him into the top spot when the time was right. Nguyen, who will move to the role of chief strategy officer, says everyone was on board with the move, and he was ready to step back into a more technical role.

“When we closed the latest round of funding and looked at what the journey forward looks like, there was just a lot of trust and confidence from my co-founder, the board of directors, all of the investors on the team that Tucker is the right leader,” Nguyen said.

As Callaway takes over in the midst of the pandemic, the company is in reasonably good shape, with 3,000 customers using the product and a strategic partnership with IBM to provide logging services for IBM Cloud. Having $25 million in additional capital certainly helps, but he sees a company that’s still growing and intends to keep hiring.

As he brings more people on board to lead the company of approximately 100 employees, he says that diversity and inclusion is something he is passionate about and takes very seriously. For starters, he plans to put the entire company through unconscious bias training. They have also hired someone to review their hiring practices to date and they are bringing in a consultant to help them design more diverse and inclusive hiring practices and hold them accountable to that.

The company was a member of the same Y Combinator winter 2015 cohort as GitLab. It actually started out building a marketing technology product, only to realize they had built a powerful logging tool on the back end. That logging tool became the basis for LogDNA .

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Jul
09

MariaDB raises $25M more to expand its SkySQL cloud database platform

Cloud services continue to be a key component of how organisations remain operational even as so much else — such as physically working in enclosed offices — is forced to change because of the COVID-19 health pandemic. Today, MariaDB Corporation, the company behind MariaDB SkySQL and one of the startups leading the charge on open-source cloud databases, is announcing $25 million in funding to continue its growth.

The money is coming in the form of an extension to the company’s Series C round, and it’s being led by SmartFin Capital, a Belgian VC, with participation from previous investor GP Bullhound.

(Side note: Extensions to existing rounds seem to have become more frequent in recent months. That’s in part because extensions can be faster to close than opening and closing completely new rounds, in part because they are typically smaller amounts and in part because fundraising has become a lot more challenging and harder to do in recent months, with people travelling and meeting in person much less, and sometimes not at all.)

Notably, however, being an extension doesn’t mean the valuation is not changing. This latest infusion brings the total raised by MariaDB Corp. to over $125 million, “doubling our valuation,” CEO Michael Howard noted in a statement.

Howard didn’t reveal the exact figure of that valuation, but for some context, the company — founded in Helsinki, Finland and now co-headquartered in Redwood City, California — was last valued at €300 million ($340 million at today’s rates) in 2017, in a $27 million round led by Alibaba. That would put today’s round at a €600 million valuation ($680 million), a big leap for the startup — and for open source — in the space of three years.

Part of the boost for MariaDB’s business is coming directly as a result of the demands we’re seeing in the enterprise sector today for database-as-a-service tools built on cloud and open-source architecture, Howard noted.

“Expanding MariaDB SkySQL cloud operations is our key focus,” Howard said in a statement. “There is an addressable and immediate market need with a growing number of companies who want to enable faster innovation and agility by adopting cloud technologies and shifting database management to DBaaS solutions.”

MariaDB says that DBS Bank, ServiceNow, Walgreens, Samsung and more than 75% of the Fortune 500 customers run MariaDB in both private and public clouds, speaking to the reach of the platform.

MariaDB Corp. is not disclosing its own growth numbers — we’re asking and will update as and when we learn more — but it’s likely they have been strong, judging by the valuation hike.

“MariaDB continues to exceed our expectations,” said Jürgen Ingels, founding partner, SmartFin Capital, in a statement. “The company’s innovation in cloud database technology will help support the rapid growth in IT modernization that businesses large and small are pursuing to keep up with the world around us. We feel MariaDB is well-positioned to take a large share of the growing cloud database market as companies continue to push forward into the cloud. We are proud to invest more in MariaDB to continue their exceptional growth.”

Apart from the more immediate effects of the health pandemic, MariaDB Corp.’s growth speaks to other trends in enterprise IT that have been in play for years.

Gartner estimates that 75% of all databases will have migrated to cloud architectures by 2022 either with all-in or hybrid deployments, “with only 5% ever considered for repatriation to on-premises.”

While MariaDB remains committed to open source — indeed there is a MariaDB Foundation that includes members like Microsoft, Booking.com, Tencent and Alibaba — MariaDB Corp. has positioned itself as something of a consolidator in terms of building commercial services on top of the open-source relational database. Its acquisitions have included Clustrix and MammothDB to expand its functionality, and this funding will be used to that end as well, particularly around scaling and improving the speed of SkySQL.

“MariaDB has risen to be a household name in the IT industry,” said Per Roman, co-founder and managing partner of GP Bullhound, in a statement. “We have been particularly interested in MariaDB’s focus on bringing its flexibility, security and stability to the cloud. That’s why we’re excited to invest in MariaDB, as we see enormous opportunities for its SkySQL product.”

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Jul
09

Kernel raises $53 million for its non-invasive ‘Neuroscience as a Service’ technology

LA-based bio science startup Kernel has raised $53 million from investors, including General Catalyst, Khosla Ventures, Eldridge, Manta Ray Ventures, Tiny Blue Dot and more. The funding is the first outside money that Kernel has taken in, though it’s a Series C round because founder and CEO Bryan Johnson has provided $54 million in investment for Kernel to date. Johnson also participated in this latest round alongside external investors.

The funding will go toward further scaling “on-demand” access to its non-invasive technology for recording brain activity, which consists of two main approaches. Kernel has distinguished these as two separate products: Flux, which detects magnetic fields created by the collective activity of neutrons in the brain; and Flow, which measures blood through the brain. These are both key signals that researchers and medical practitioners monitor when working with the brain, but typically they require use of invasive, expensive hardware — or even brain surgery.

Kernel’s goal is to make this much more broadly available, offering access via a “Neuroscience as a Service” (NaaS) model that can provide paying clients access to its brain imaging devices even remotely. Earlier this year, Kernel announced that this platform was available generally to commercial customers.

The technology sounds like sci-fi — but it’s really an attempt to take what has been a relatively closed and prohibitively costly, expert and potentially dangerous-to-its-subjects tech, and make it available as an on-demand capability — in much the same way that many human genome companies have emerged to take advantage of the advances in the speed and availability of human genome sequencing to do the same, for the business and research community.

Johnson’s ambitious long-term goal with the company is to ultimately develop a much deeper understanding in the field of neuroscience.

“If we can quantify thoughts and emotions, conscious and subconscious, a new era of understanding, wellness, and human improvement will emerge,” Johnson writes in a press release.

It’s true that the brain’s inner workings are still largely a mystery to most researchers, especially in terms of how they translate to our cognition, feelings and actions. Kernel’s platform could mean significantly more people studying the science behind the operation of the brain, and provide explanations for areas of neuroscience that still aren’t well understood, just by virtue of making it more accessible to more intelligent people from more disciplines and backgrounds.

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Jul
09

14 VCs discuss COVID-19 and London’s future as a tech hub

The UK has created 63 tech unicorns in the past decade (according to Dealroom), and it almost goes without saying that the vast majority of those companies were based out of London, the country’s largest tech hub.

Famously, London’s DeepMind, an AI startup, was acquired by Google in 2014 for $500 million, but it has resolutely refused to move to Silicon Valley; founder Demis Hassabis says the city’s diversity of talent meant the powerhouse needed to stay put.

London has produced fintech upstarts like Revolut, Monzo and Starling and attracted early Skype team members who went on to create TransferWise. In 2019, London’s startups received $9.7 billion in venture capital funding, more than Berlin, Paris, Amsterdam and Madrid combined.

Furthermore, last year Pitchbook found that up to $4.4 billion worth of deals had involved at least one U.S.-based investor, with London receiving over $12.5 billion from American investors in the previous five years – almost twice as much as Berlin (on $6.5 billion of investment from U.S. VC firms).

Brexit uncertainty may impact startups’ ability to recruit and sale, and the UK government’s points-based system for immigration is unlikely to satisfy the industry’s voracious appetite for talent. But London is a tech supertanker that other European cities are unlikely to be able to match any time soon, Brexit or no Brexit.

But in the era of COVID-19, will major hubs like London still be able to attract future tech unicorns, and will these be in the same sectors as before? Will geography be replaced by mere time zones?

We surveyed many of London’s top VCs to get their insights. Here’s who we heard from:

Ruth Foxe-Blader, partner, AnthemisYana Abramova, partner, Pretiosum CapitalLeila Zegna, co-founding partner, Kindred CapitalRob Moffat, partner, Balderton CapitalNic Brisbourne, managing partner, Forward PartnersSean Seton-Rogers, general partner, PROfounders CapitalSimon Murdoch, managing partner, Episode 1 VenturesNenad Marovac, founder and managing partner, DN CapitalAndrei Brasoveanu, partner, Accel PartnersJan Lynn-Matern, founder and partner, Emerge EducationRob Kniaz, founding partner, Hoxton VenturesHarry Briggs, partner, OMERS VenturesHussein Kanji, partner, Hoxton VenturesEileen Burbidge, partner, Passion Capital

Ruth Foxe-Blader, Anthemis

How much is local investing even a focus for you now? If you are investing remotely in general now, are you filtering for local founders?

Neither our investment thesis, nor our geographic focus has changed: we are a global investor, focused on the U.S., UK and Europe. We are filtering, even more, for the best founders, as geography feels less important in lockdown.

From that, what do you expect to happen to the startup climate in London longer term, with the shift to more remote work (post COVID-19), possibly from more remote areas. Will London stay a tech hub or will the ecosystem become more dispersed across the country?

As a global financial hub with substantial infrastructure (including capital) designed to support emerging technology, London will remain a critical node in the fintech ecosystem.

Long-term, do you expect to be more or less locally focused, especially in light of COVID-19 or in other ways?

We’re anticipating a pretty substantial change to working norms, at least over the near term (6-12 months). The long-term impact is likely to level the playing field for great founders operating outside of established tech hubs. Remote assessment of companies, while challenging, has the potential to create more equitable investment practices.

From that, what do you expect to happen to the startup climate in London longer term, with the shift to more remote work (post COVID-19), possibly from more remote areas. Will London stay a tech hub or will the ecosystem become more dispersed across the country?

As a global financial hub with substantial infrastructure (including capital) designed to support emerging technology, London will remain a critical node in the fintech ecosystem.

Will there be tech hubs post-COVID-19? What is a tech hub now, by your definition?

To the extent that culture, regulation and capital play a large role in favoring certain types of economic activity, I expect existing tech hubs to remain important bastions of innovation. That said, I think we will see the rise of complementary tech hubs, as well as teams “in the middle of nowhere” emboldened to start great companies.

Are there particular industry sectors that you expect to do uniquely well or poorly, locally?

Given the proximity to the City and the heritage in financial technology innovation, the London tech ecosystem will continue to produce great fintech and insurtech companies.

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Jul
09

From eBay Seller to Software Entrepreneur: Seller Labs CEO Paul Johnson (Part 3) - Sramana Mitra

Sramana Mitra: You shut down that business? Paul Johnson: We did. We sold all the inventory that we had and cashed out. I met up with a business partner and went for the most peculiar e-commerce...

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Original author: Sramana Mitra

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Jul
08

Book: The Startup Playbook

If you are working on your first startup, this is the book for you. Hopefully, the Foreword I wrote reflects my belief in the quality and importance of this book.

My friends @willherman and @rajatbhargava put their hearts and souls into the creation of the first edition of The Startup Playbook, and it paid off. Over 13,000 people bought the book, it’s a 4.8-star review book on Amazon (with 100 reviews), and it sold out.

I’ve known Will since 1984 and Raj since 1993. Will and I made our first angel investment together in 1994 – in Raj’s first company NetGenesis (which went public in 1999). Since then, Will and I have made many investments together (including most of Raj’s company). Raj and I have done seven companies together, including his most recent company JumpCloud which is one of the fastest-growing B2B SaaS companies in our portfolio (and in Colorado.)

The book is Will and Raj’s how-to guide for building your startup from the ground up. It has a collection of the major lessons and shortcuts they learned starting 11 companies between them – a lot of successes, but some nasty failures too. They wrote the book to shift the odds of success in your favor. They share their tips, secrets, and advice in a frank, founder-to-founder discussion with you.

The Startup Playbook is not a recipe; it’s not a template; it’s not a list of tasks to do. It’s their insider’s guide to starting a company and running it successfully in those critical early months. It’s full of our advice, guidance, do’s, and don’ts from their years of experience as founders, investors, mentors, and advisors.

Original author: Brad Feld

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Jul
08

Startup Ideas for the Post Covid World: Home Based Healthcare - Sramana Mitra

Certain sectors of industry are facing extraordinary levels of job loss in the post-Covid era. While some of these jobs may come back, it is widely believed that some trends are permanent. The retail...

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Original author: Sramana Mitra

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Jul
08

Medallia Looks to Verticalized Offerings and Acquisitions - Sramana Mitra

According to a Grand View Research report published earlier this year, the global customer experience management market is expected to grow at 18% CAGR to reach $23.6 billion by 2027 driven by the...

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Original author: MitraSramana

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Feb
08

Here are 11 of the best games that you can only play on iPhones (AAPL)

Not all high impact businesses need to go from 0 to $100 million in 5 to 7 years.  NOVICA has built a tremendously important, high impact social enterprise that did $30 million in 20 years. It’s...

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Original author: Sramana Mitra

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Jan
23

AI-powered smartphones and the features that will make you want to buy them

The daily updates on COVID-19 outbreaks, tragic stories of related fatalities, and our narrowed scope of life due to lockdown have all put the concept of mortality — and for some the sad business of actually dealing with a death — squarely into focus for many people. Today, a startup that’s building out a suite of services related to that is announcing a round of funding on the back of a boost of growth in business.

Farewill, a UK startup that provides a platform for people write online wills, organise probate services (such as sorting out death duties and taxes on a person’s property) and order cremations, has raised £20 million ($25 million) in funding — money that it hopes will not only help the company grow its business but also to help in the process of coping with our own deaths and those of our loved ones.

“We want to help by destigmatising death,” said Farewill CEO Dan Garrett in an interview about the complexity of the proposition. “We all have to face death. It lives inside everyone. But for most of us, we are psychologically hardwired not to think about it, and as a process people have been largely at the behest of an industry that doesn’t think about its customers.”

The name is, as you may have guessed, a play on farewell. “Think of the pun, and you can start the company,” Garrett said with the hint of wryness in his voice that I’m not sure you can avoid at the moment, especially given the subject.

The round is being led by Highland Europe, with Keen Ventures, Rich Pierson of Headspace, Broadhaven Ventures, Venture Founders and previous investors Augmentum Fintech, Taavet Hinrikus of TransferWise and Kindred Capital also participating. It’s being described as a venture round — a Series A of just under $10 million was closed in January 2019 — and brings the total raised by Farewill to £30 million.

Farewill is currently only live in the UK but longer term has plans to expand to more. In its home market, Garrett (who co-founded the company with university friend Dan Rogers, who is the CTO and CPO) says that in the five years that Farewill has been operational, it’s become the biggest will writer in the country in what is a quite fragmented market: the startup accounts for one out of every 10 wills written, or a 10% market share.

The cremation funeral and probate services are more recent launches from December 2019. But even so, given the current state of play with lockdown, social distancing and sadly the rise in actual deaths, they too have seen a lot of activity. Garrett said that Farewill’s cremation service, where the order for cremation and other details are all carried out online and costs on average one-fifth of the typical funeral — the idea being that families can then choose how to memorialise after that process, bypassing that more traditional funeral option — is now the third/fourth-biggest cremation provider in the country. It’s not all about the last few months, however: overall growth for the startup, he added, was 800% last year (before COVID-19) on a revenue basis.

Death by design

Just as death is not an easy topic for most people, it’s a complicated one to pinpoint as a target industry for a startup to “disrupt.” Farewill’s origin story, in that context, is an interesting one.

Garrett — who studied engineering at Oxford as an undergraduate — said the the idea came to him while doing postgraduate work on a joint degree between Imperial College and the Royal College of Art on design and innovation.

He came into the degree with a lot of big ideas, inspired by companies like Airbnb. “There is just so much potential for design-led companies,” he said of his thinking at the time.

One of the remits that the course cohort was given, he said, was to think about the broader concept of aging and services to address that. As part of the course, he travelled to Japan — which has its own specific reverence for ageing and the death process — and based himself at an old people’s home in Tokyo for six months along with “a team of enthnographers and anthropologists.”

He came out of that with an insight he didn’t expect, he recalled. “I felt that at the end of my six months there, I’d failed in my role as a designer,” he said. “All we focused was on the superficiality of ageing: how can we make better cutlery, or beds or seating that helped them move around? It was all about mobility and the physical aspects. But why we didn’t get close to talking about was that most of these people were facing their mortality. And in care homes, you don’t have friends or family around.” In other words, physical details and making life more manageable or enjoyable are fine, but Garrett didn’t feel that they got to the heart of the matter.

“To my mind, if you’re a designer, your responsibility is to get to the bottom of whatever the issue is,” he said. His dissertation, about dementia care, raised questions not about cutlery per se but person-centered approaches. “So much of it is about physical amelioration, not psychological aspects.”

So when he returned to the UK, he set to work trying to understand “the death industry.” He spent two months doing what he described as “mystery shopping”, regularly visiting funeral directors, and saying he was coming to discuss a death (a hypothetical one, not a real one) to understand what process people went through when they walked through the door for a real funeral. “I made sure I didn’t waste too much of their time,” he said.

He then also got a qualification in will writing and started offering services to his friends (free) who needed help to go through the probate process — which involves sorting out death duties, organising personal effects and the estate and so on. He — and Farewill — have also tried to embody a transparent and ethical approach in the work throughout, which has also included making it easier to designate pledged legacy income in wills (that is donations to causes). The aim is to reach £1 billion in pledged legacy income by 2023, with over £200 million raised so far and the numbers accelerating.

All that hands-on experience was important, he said, to get to grips with what he wanted to build. “I may have three masters degrees, but I am terrible at learning without actually doing something,” he said.

One big conclusion Garrett found was that not only was the death industry large and complicated, not least because of the subject matter, but because it had no technical innovation at all around it.

“There is this profound human aversion to dealing with death, and that is a brilliant design challenge,” he said.

Indeed, like it or not, death is always around us, and perhaps particularly right now. In the US — itself home to a number of startups focusing on death-related services — will writing companies have seen huge spikes in their business in the last several months. And even with the economic slowdown much of the globe is now seeing as a result of COVID-19, death care services (which don’t include will writing but everything after death), is projected to be a $102 billion industry this year.

It’s numbers like that, and Farewill’s execution in what it is doing, that has attracted investors.

“How about entirely removing the administrative pain for those grieving for their loved ones? How about providing an affordable, effortless and considerate service? That’s what the Farewill team is doing – with an extraordinary blend of compassion and tech-fueled efficiency,” said Stan Laurent, Partner at Highland Europe in a statement. “For too long, the wills and funeral industry has been largely geared towards profit over purpose. Since our first meeting with Dan, we knew that Farewill had the ingredients to radically disrupt the industry. We’re excited to back them as they broaden their ambition.”

“Farewill has made phenomenal progress since our initial investment 18 months ago,” added Tim Levene, CEO of Augmentum Fintech, in a statement. “They have grown by 10x and launched a suite of successful new products. This additional capital will provide further opportunity for the company to innovate an archaic industry, and become the leading digital platform in death services.”

(Farewill also recently won a Europa award for its contribution to social innovation.)

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Feb
17

Facebook will need to re-register consent from all its users in Europe under the EU's new privacy laws

LeanIX, the enterprise architecture software company founded out of Bonn in Germany, has closed $80 million in Series D funding. The round is led by new investor Goldman Sachs Growth. Previous investors Insight Partners and DTCP also followed on.

The Series D brings LeanIX’s total funding to over $120 million. The company says it will use the investment to continue international growth and to further develop its complementary solutions for cloud governance. In the last 12 months, LeanIX has opened new offices in Hyderabad (India), Munich (Germany) and Utrecht (Netherlands), and now has 230 employees worldwide (up from 80 when we last covered the company).

Founded in 2012, LeanIX operates in the enterprise architecture space and its SaaS might well be described as a “Google Maps for IT architectures”. The software lets enterprises map out all of the legacy software or modern SaaS that the organisation is run on. This includes creating meta data on things like what business process it is used for or capable of supporting, what tech powers it, which teams are using or have access to it, as well as how the different architecture fits together.

The idea is that enterprises not only have a better handle on all of the software from different vendors they are buying in, including how that differs or might be better utilised across distributed teams, but can also act in a more nimble way in terms of how they adopt new solutions or decommission legacy ones.

“Many well-known enterprises have successfully restarted their EA initiative with LeanIX,” says André Christ, LeanIX CEO and co-founder (pictured). “Due to its high usability and seamless integrations with other data sources, fast-growing businesses like Atlassian, Dropbox, and Mimecast have also kick-started their EA practices”.

Image Credits: LeanIX

To that end, LeanIX says it is currently working with 300 international customers and achieved 100% revenue growth in 2019. Specifically, 39% of total sales are generated in the U.S. market, and 57% in its home market of Europe.

Comments Christian Resch, Managing Director Goldman Sachs Growth, in a statement: “LeanIX is a thought leader in Enterprise Architecture. We were impressed by its strong revenue growth, the positive customer feedback and the company’s visionary concept: LeanIX develops software solutions to reduce complexity in IT application landscapes. Importantly, LeanIX’s software helps companies with their transition to, and maintenance of, both the cloud and modern microservices architecture”.

Alexander Lippert, Vice President at Goldman Sachs Growth, will join LeanIX’s board of directors.

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Nov
17

Heroic Story raises $6M to build tabletop RPG platform for Web3

We’re excited to announce that Extra Crunch is now available to readers in Argentina, Brazil and Mexico. That adds to our existing support in the U.S., Canada, the U.K., and select European countries.

You can sign for Extra Crunch here.

Latin America has always caught the eye of big tech. For companies like Facebook, Amazon and Uber, Latin America has represented a massive growth opportunity. But it’s not just big tech that’s investing in Latin America. The startup scene is booming. According to Crunchbase, VCs invested billions into Latin America in 2018 and 2019.

In 2018, the TechCrunch team took a trip to São Paulo, Brazil to host Startup Battlefield Latin America. We knew about the hot startup scene and massive investments, and wanted to meet the founders fueling the fire in person.

The excitement, wit, creativity and energy of the entrepreneurs in Latin America was impressive. We were dazzled by the pitches from budding startup teams, and we were enlightened by the investors sharing their wealth of knowledge about the ecosystem. What we saw in person helped us tie the funding to the faces of the teams building the future. The entrepreneurial mentality of Silicon Valley doesn’t have borders; it’s alive and well across Latin America.

We wanted to bring Extra Crunch to Latin America to help support the startups and investors in this market because community has always been our top priority. We hope that Extra Crunch’s deep analysis and company-building resources will help the Latin America tech community grow even stronger than it is today.

We’ve been polling our audience about expanded country support for over a year now, and Argentina, Brazil and Mexico have always been near the top of the list. Now, we’re delivering on the promise to bring Extra Crunch to everyone who asked for it.

We’re optimistic that Extra Crunch will be a big hit in Latin America, and we hope entrepreneurs and investors in the region who have not yet heard of TechCrunch will give it a try.

You can sign for Extra Crunch here.

What is Extra Crunch?

Extra Crunch is a membership program from TechCrunch that features research and reporting, reader utilities and savings on software services and events. We deliver more than 100 exclusive articles per month, with a focus on startup teams and investors.

Our weekly Extra Crunch investor surveys will help members find out where startup investors plan to write their next checks. Extra Crunch subscribers will be able to build a company better with how-tos and interviews from experts on fundraising, growth, monetization and other key work topics. Readers can also learn about the best startups through our IPO analysis, late-stage deep dives and other exclusive reporting delivered daily.

Here’s a taste of the articles you can expect to see in Extra Crunch:

Women are the secret ingredient in Latin America’s outsized returnsYou need a minimum viable company, not a minimum viable product6 strategic stages of seed fundraising in 2020Latin American startup deals see major drop in COVID-19 era

Beyond articles, Extra Crunch also features a series of reader utilities and discounts to help save time and money. This includes an exclusive newsletter, no banner ads on TechCrunch.com, Rapid Read mode, List Builder tool and more. Committing to an annual or two-year Extra Crunch membership will unlock discounts on TechCrunch events and access to Partner Perks. Our Partner Perks can help you save on services like AWS, Brex, Canva, DocSend, Zendesk and more.

Thanks to all of our readers who voted on where to expand support for Extra Crunch, and thanks to all who participated in the Extra Crunch beta in Latin America. If you haven’t voted and you want to see Extra Crunch in your local country, let us know here. We’re actively working on expanding support to more countries, and input from readers is greatly appreciated.

You can sign up or learn more about Extra Crunch here.

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Sep
20

August 2022 NPD: Madden NFL 23 tops charts as hardware sales rise

Even in the best of times, finding a notary can be a challenge. In the middle of a pandemic, it’s even more difficult. DocuSign announced it has acquired Liveoak Technologies today for approximately $38 million, giving the company an online notarization option.

At the same time, DocuSign announced a new product called DocuSign Notary, which should ease the notary requirement by allowing it to happen online along with the eSignature. As we get deeper into the pandemic, companies like DocuSign that allow workflows to happen completely digitally are in more demand than ever. This new product will be available for early access later in the summer.

The deal made sense given that the two companies had a partnership already. Liveoak brings together live video, collaboration tooling and identity verification that enables parties to get notarized approval as though you were sitting at the desk in front of the notary.

Typically, you might get a document that requires your signature. Without electronic signature, you would need to print it, sign the document, scan it and return it. If it requires a notary, you would need to sign it in the notary’s presence, which requires an in-person visit. All of this can be streamlined with an online workflow, which DocuSign is providing with this acquisition.

It’s like the perfect pandemic acquisition, making a manual process digital and saving people from having to make face-to-face transactions at a time when it can be dangerous.

Liveoak Technologies was founded in 2014 and is part of the Austin, Texas startup scene. The company raised $13.5 million during its life as a private company, according to Crunchbase.

This acquisition is part of a growing pandemic acquisition trend of sorts, where larger public enterprise companies are plucking early-stage startups, in some cases for relatively bargain prices. Among the recent acquisitions are Apple buying Fleetsmith and ServiceNow acquiring Sweagle last month.

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Nov
17

Snorkel dives into data labeling and foundation AI models

Sophie Alcorn Contributor
Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives.

Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies.

“Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.”

“Dear Sophie” columns are accessible for Extra Crunch subscribers; use promo code ALCORN to purchase a one- or two-year subscription for 50% off.

Dear Sophie:

One of our founders is currently in the U.S. on an F-1 STEM OPT. Our company is sponsoring her for an H-1B visa, and we recently received an RFE.

What does yesterday’s F-1 visa international student immigration announcement mean for her? Is the H-1B going to be denied? Do we need a backup? What should we do?

—Concerned in Cupertino

Dear Concerned:

To find out if an F-1 student is affected by the Trump administration’s international student ban, watch my latest YouTube Live. For more on the H-1B visa ban, please read last week’s Dear Sophie column.

International students have been allowed to take online classes during the spring and summer due to the COVID-19 crisis, but that will end this fall. The new order will force many international students at schools that are only offering remote online classes to find an “immigration plan B” or depart the U.S. before the fall term to avoid being deported.

At many top universities, international students make up more than 20% of the student body. According to NAFSA, international students contributed $41 billion to the U.S. economy and supported or created 458,000 jobs during the 2018-2019 academic year. Apparently, the current administration is continuing to “throw out the baby with the bathwater” when it comes to immigration.

Universities are scrambling as they struggle with this newfound untenable bind. Do they stay online only to keep their students safe and force their international students to leave their homes in this country? Or do they reopen to save their students from deportation, but put their communities’ health at risk?

For students, it means finding another school, scrambling to figure out a way to depart the States (when some home countries will not even allow them to return), or figuring out an “immigration plan B.” Yesterday’s video explores F-1 visa alternatives.

Fortunately, since your co-founder is on OPT, I don’t think the latest F-1 restrictions will affect her based on my initial reading of the tiny bit of info that trickled out of U.S. Immigration and Customs Enforcement (ICE) yesterday and the slightly broader SEVIS broadcast message guidance for schools. (“For the fall 2020 semester, continuing F and M students who are already in the United States may remain in Active status in SEVIS if they make normal progress in a program of study, or are engaged in approved practical training, either as part of a program of study or following completion of a program of study.”)

On the RFE front, I don’t know if it’s any comfort, but you’re definitely not alone: The percentage of H-1B petitioners that receive a Request for Evidence (RFE) has nearly doubled since 2016. Nearly 21% of petitioners received an RFE in fiscal year 2016 compared to more than 40% in 2019. During the first two quarters of the current fiscal year, 41% of all H-1B petitions received an RFE. Check out my podcast because we’ll be covering RFEs, Requests for Initial Evidence (RFIEs) and Notices of Intent to Deny (NOIDs) soon.

Just to be totally clear in answer to your first question: No, getting an RFE does not mean your H-1B application is more likely to be denied. In fact, an RFE offers a final opportunity to strengthen your petition for approval. Because the stakes are so high, I recommend consulting with an experienced immigration lawyer when crafting a response to an RFE.

Make sure U.S. Citizenship and Immigration Services (USCIS) receives your response to the RFE by the deadline printed on the RFE. Last week, USCIS extended its deadlines: The deadline for RFEs issued between March 1 and Sept. 11 is automatically extended by 60 calendar days after the due date due to the COVID-19 crisis and the budget shortfall facing the agency. If your response is not received by the deadline, USCIS will deny your company’s H-1B petition.

You always want to make sure you understand exactly what additional evidence USCIS is seeking from you. Check your original application package to make sure that the requested document or evidence was not included. Sometimes, USCIS mistakenly overlooks information already submitted. If that’s the case, resubmit the requested document in your response package. If you can’t provide a requested document, explain why and provide alternative evidence if possible. Otherwise, provide the document or evidence as requested.

Among the top reasons why USCIS issues an RFE are for failing to show that the position qualifies as a specialty occupation or that a valid employer-employee relationship exists. If the RFE you received is for either of these reasons, here’s a quick reminder of what USCIS is seeking for each requirement.

To qualify for an H-1B visa, your petition must have demonstrated to USCIS that the position sought by the international professional is a specialty occupation. You should have provided evidence that the job requires the understanding and application of highly specialized knowledge and that it usually requires at least a bachelor’s degree — or equivalent experience — in a particular specialty. In recent years, USCIS has narrowed its interpretation of what qualifies as a specialty occupation. For instance, it no longer considers computer programming to be a specialty occupation. USCIS has also challenged positions that don’t require a bachelor’s degree and positions with titles such as computer systems analyst, financial analyst, market research analyst and human resources manager.

Making the case that an employer-employee relationship exists is tricky when it involves a founder working for the company she helped create. An employer must demonstrate that it will control the work of the H-1B beneficiary. For founders, that means someone at the company — either the board of directors or a co-founder — would have to supervise the H-1B beneficiary and have the authority to fire the individual. There are lots of ways to set this up properly.

Once all the evidence and documents required to respond to the RFE are ready, they should all be submitted together in a single response package with the original copy of the RFE as the first page. Save a copy of the response package for your records and send the response to the correct location using tracking and proof of delivery options.

Given that U.S. embassies and consulates abroad have stopped issuing visas and green cards under the executive proclamations issued on April 22 and June 22 and due to the ongoing COVID-19-related travel restrictions, your co-founder should remain in the U.S. for the foreseeable future.

For long-term immigration security for your co-founder, your startup should consider sponsoring her for one of the following green cards if she qualifies:

EB-1A green card for individuals with exceptional ability.EB-2 NIW (National Interest Waiver) green card, which is ideal for startup founders.EB-2 green card for individuals with an advanced degree or exceptional ability, which requires a time-consuming PERM labor certification from the U.S. Department of Labor.EB-5 investor green card, for which your company could provide your co-founder with the investment funds for this option.

Apparently the Trump administration is not yet done with its efforts to further restrict legal immigration. They are taking a look at whether individuals currently in the U.S. on H-1B visas, as well as EB-2 green cards and EB-3 green cards limit opportunities for U.S. workers. Further restrictions or even expanded moratoriums may be put into place. Of course, I’ll cover it all here if and when it happens.

Let me know if you have more specific questions about an RFE. Good luck!

—Sophie

Have a question? Ask it here. We reserve the right to edit your submission for clarity and/or space. The information provided in “Dear Sophie” is general information and not legal advice. For more information on the limitations of “Dear Sophie,” please view our full disclaimer here. You can contact Sophie directly at Alcorn Immigration Law.

Sophie’s podcast, Immigration Law for Tech Startups, is available on all major podcast platforms. If you’d like to be a guest, she’s accepting applications!

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Feb
07

You'll be able to watch the best parts of the Olympics straight from Snapchat (SNAP, FB)

Alex Nichols Contributor
Alex Nichols is a vice president at CapitalG, Alphabet's independent growth fund, where he focuses on growth stage investments in software.
Jesse Wedler Contributor
Jesse Wedler is a partner at CapitalG, Alphabet's independent growth fund, where he focuses on growth stage investments in software.

It seems like every software funding and product announcement these days includes some sort of reference to “no code” platforms or functionality. The frequent callbacks to this buzzy term reflect a realization that we’re entering a new software era.

Similar to cloud, no code is not a category itself, but rather a shift in how users interface with software tools. In the same way that PCs democratized software usage, APIs democratized software connectivity and the cloud democratized the purchase and deployment of software, no code will usher in the next wave of enterprise innovation by democratizing technical skill sets. No code is empowering business users to take over functionality previously owned by technical users by abstracting complexity and centering around a visual workflow. This profound generational shift has the power to touch every software market and every user across the enterprise.

The average enterprise tech stack has never been more complex

In a perfect world, all enterprise applications would be properly integrated, every front end would be shiny and polished, and internal processes would be efficient and automated. Alas, in the real world, engineering and IT teams spend a disproportionate share of their time fighting fires in security, fixing internal product bugs and running vendor audits. These teams are bursting at the seams, spending an estimated 30% of their resources building and maintaining internal tools, torpedoing productivity and compounding technical debt.

Seventy-two percent of IT leaders now say project backlogs prevent them from working on strategic projects. Hiring alone can’t solve the problem. The demand for technical talent far outpaces supply, as demonstrated by the fact that six out of 10 CIOs expect skills shortages to prevent their organizations from keeping up with the pace of change.

At the same time that IT and engineering teams are struggling to maintain internal applications, business teams keep adding fragmented third-party tools to increase their own agility. In fact, the average enterprise is supporting 1,200 cloud-based applications at any given time. Lacking internal support, business users bring in external IT consultants. Cloud promised easy as-needed software adoption with seamless integration, but the realities of quickly changing business needs have led to a roaring comeback of expensive custom software.

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Feb
07

Here's the last shot SpaceX got of Elon Musk's Tesla Roadster and its dummy driver 'Starman'

When Manatee founder Damayanti Dipayana’s brother was diagnosed with autism spectrum disorder, the family took all the steps to ensure that he was properly cared for. All of the things that could have been an obstacle to getting treatment weren’t for Dipayana’s family.

A comfortably middle class background, a supportive family and ready access to care were all available, but still the therapy didn’t take. For Dipayana, it was witnessing the breakdown between the care provided at sessions and the differences in treatment at home that led her to create Manatee.

“Therapy just sucks for kids,” Dipayana said. “My brother hated it. It can’t be the best thing for children to put them in a room with an adult and have them talk about their problems for an hour.”

Now the graduate from Techstars Los Angeles has $1.5 million in funding from investors including the Michigan-based investment firm Grand Ventures; Telosity, a fund launched by Vinaj Ventures & Innovation that invests in companies improving children’s and young adults’ mental health; and the American Family Insurance Institute for Corporate and Social Impact. Manatee will pursue clinical validation for its suite of apps and services to provide a continuum of care for children with cognitive and behavioral disorders. 

Beginning with Children’s Hospital Los Angeles, Manatee has started a trial with 10 clinicians and 50 families to evaluate the commercial use case for Dipayana’s service.

The first targets for care are anxiety and oppositional disorder, Dapayana said.

Image credit: Manatee

“I really want to focus on children. From a social [return on investment] perspective it seems insane to me that we don’t invest more in the early well-being of children,” said Dipayana. “If we did, then we probably wouldn’t have to deal with a ballooning juvenile detention system.”

From the company’s earliest days the stars seemed to align for Dipayana. She found her technical co-founder, Shawn Kuenzler, thanks to a post on AngelList. A veteran in the health tech startup world, Kuenzler ran engineering at Health Language and Zen Planner and has two exits under his belt. If that wasn’t serendipitous enough, Kuenzler’s wife is a clinical psychologist.

The two Denver-based entrepreneurs then took their startup on the road to the Techstars Los Angeles accelerator. It was there that they were introduced to contacts at companies including Headspace and LA Children’s Hospital that are paving the way for clinical validation of digitally delivered cognitive behavioral healthcare.

“We’re going to spend money and resources on launching our research with Children’s LA to understand the impact for a health system,” Dipayana said. “We position it as everyday therapy for kids. We provide the platform for providers to make it the day-to-day therapy for kids.” 

Manatee sells its services directly to healthcare systems to ensure that it can reach the broadest population of users rather than just ones who could afford to access the company’s app-based offerings. Doctors use Manatee as a clinical dashboard and way to communicate to both a child and their family around care plans and treatment.

“I thought about this really long and hard… Looking from my personal experience. Parents and families that have kids with autism… there’s so much snake oil that gets pushed down their throat that they’ll try anything,” Dipayana said. “It was very important to me that I understand the clinical workflow and understood how the workforce manages behavioral healthcare and whether the work we were doing was valuable.”

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Feb
07

Elon Musk: 'If we can send a Roadster to the asteroid belt, we can probably solve Model 3 production' (TSLA)

Kerry Washington’s fingerprints are all over Hollywood. The Emmy, SAG and Golden Globe-nominated actor, director and producer has touched myriad projects, from her role as Olivia Pope on “Scandal” (where she was the first African American woman since 1974 to headline a network drama) to her production of Hulu’s “Little Fires Everywhere” and Netflix’s “American Son” (she starred in both, as well). And let’s not forget her many director credits, including on “SMILF,” “Scandal,” and “Insecure.”

But Washington is much, much more than a Hollywood superstar.

She’s gotten deeper into the tech realm over the past few years, and not only by writing a check.

Washington participated in the $75 million investment in The Wing, a members’ only coworking space for women. She also invested in Community, the platform that gives stars and celebrities a more direct connection with their fans (you can “text” her using the number in her Twitter bio) and she invested in Byte, a D2C teeth-straightening platform (where she serves as creative ambassador).

Washington told TechCrunch in May that her portfolio is all about companies that she can be proud to be associated with.

“That pride comes from the quality of the product and how it improves the quality of people’s lives,” said Washington. “The idea of having a voice is really important.”

Whether it’s through creating space to come together, straightening a smile or giving people a more direct connection to their icons, her portfolio is exclusive when it comes to empowering people to use their voices.

Washington is also an activist.

She was honored with the NAACP’s President’s Award in 2013 and received the GLAAD Media Vanguard Award in 2015, as well as the ACLU Bill of Rights Award in 2016. In 2018, when the world went through a huge change in the form of #MeToo, Washington joined Natalie Portman, America Ferrera, Reese Witherspoon and others as a leader of the Time’s Up movement within Hollywood.

She’s also the co-chair of Michelle Obama’s “When We All Vote” campaign and the founder of Influence Change 2020, an initiative that partners with nonprofit organizations with the goal of increasing voter turnout.

It should go without saying, we’re absolutely thrilled to sit down for a conversation with Washington at Disrupt 2020.

We’ll ask her about her recent move toward tech investment and operations, and which sectors are most exciting to her as we head into the next couple years. We’ll also talk about the rapidly changing media landscape as platforms like Netflix, Hulu, Quibi, Disney+ and HBO take up more space in the ecosystem and networks look to evolve alongside the shift in user behavior.

As we head into a presidential election, in a year where the Black Lives Matter movement has risen to the forefront, we’ll also talk about her activism work and get her insights on where the tech world is falling short with regards to diversity, equity and inclusion and how it can do better.

There will be no shortage of topics to cover with Washington and we’re very excited about this conversation.

Disrupt 2020 runs from September 14-September 18 and will be virtual this year. Get your front row seat to see Kerry Washington speak with a Disrupt Digital Pro Pass or a Digital Startup Alley Exhibitor Package before prices increase in a few short weeks. Can’t wait to see you there!

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Feb
17

Sqreen wants to become the IFTTT of web app security

Connect Ventures, the London-based seed-stage VC that was an early investor in Citymapper and Typeform announced a new $80 million fund last month to continue investing in “product-led” founders.

Launched back in 2012, when there was a shortage of institutional capital at seed stage in Europe and micro VC was a novelty in the region, Connect Ventures invests in B2B and consumer software across Europe, including SaaS, fintech, digital health and “future of work.”

Running throughout the firm’s investment thesis is a product focus, with the belief that product-led — or “product-first” — software entrepreneurs are the kinds of founders most likely to transform the way we live and work at scale.

Connect Ventures does fewer deals per year than many seed-stage firms, promising to place bets in a smaller number of early-stage companies. It recently backed scaling startups such as Curve and TrueLayer. Keeping a compact portfolio lets the shop throw more support behind its investments to help tip the scales toward success.

To learn more about Connect’s strategy going forward, I put questions to partners Sitar Teli, Pietro Bezza and Rory Stirling. We covered what makes a product-first founder, the upsides and downside of “conviction investing,” and the next digital product opportunities in fintech, health and the future of work.

TechCrunch: Connect Ventures positions itself as a pan-European VC investing in “product-led” founders at seed stage. Can you be more specific with regards to check size, geography and the types of startups you look for?

Sitar Teli: Of course, I know it can be hard to differentiate seed funds at first glance, so it’s worth digging in one layer down. Connect is a thesis-led, seed stage, product-centric fund that invests across Europe. I know we’re going to dive into some of those parts later, so I’ll focus on our investment strategy and what we look for. We lead seed rounds of £1-£2 million (sometimes less, sometimes more) and make 8-10 investments a year. Low volume, high conviction, high support is the investment strategy we’ve executed since we started eight years ago.

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Jan
29

The MP who heads Parliament's fintech group says Brexit is 'more of an opportunity than a threat' — despite fears from the sector

Last week was, for most Americans, a four-day work week. But a lot still happened in the security world.

The U.S. government’s cybersecurity agencies warned of two critical vulnerabilities — one in Palo Alto’s networking tech and the other in F5’s gear — that foreign, nation state-backed hackers will “likely” exploit these flaws to get access to networks, steal data or spread malware. Plus, the FCC formally declared Chinese tech giants Huawei and ZTE as threats to national security.

Here’s more from the week.

THE BIG PICTURE

How police hacked a massive criminal phone network

Last week’s takedown of EncroChat was, according to police, the “biggest and most significant” law enforcement operation against organized criminals in the history of the U.K. EncroChat sold encrypted phones with custom software akin to how BlackBerry phones used to work; you needed one to talk to other device owners.

But the phone network was used almost exclusively by criminals, allowing their illicit activities to be kept secret and go unimpeded: drug deals, violent attacks, corruption — even murders.

ENCROCHAT DISMANTLED!

An encrypted phone network used to exchange millions of messages between criminals to plan serious crimes across Europe.

A joint investigation by #Europol, @Eurojust @justice_gouv @Gendarmerie @Het_OM @Politie @EU_Justice @EUHomeAffairs @EC_AVService pic.twitter.com/t1QnY3QMno

— Europol (@Europol) July 2, 2020

That is, until French police hacked into the network, broke the encryption and uncovered millions of messages, according to Vice, which covered the takedown of the network. The circumstances of the case are unique; police have not taken down a network like this before.

But technical details of the case remain under wraps, likely until criminal trials begin, at which point attorneys for the alleged criminals are likely to rest much of their defense on the means — and legality — in which the hack was carried out.

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Feb
22

Trump seemed to place part of the blame for school shootings on violent video games and movies — and a Parkland survivor called it a 'pathetic excuse'

New York-based startup iRocket has landed a contract award from the U.S. Air Force to develop and build its fully autonomous small payload rockets, which the company says will be able to launch and propulsively land both its first and second stages, with the potential of launching small payloads on demand in as little as 24 hours.

iRocket is one of a few different companies looking to provide quick turnaround, rapid-response launch capabilities to serve a growing need among defense customers, particularly in the U.S., for those services. U.S. defense agencies are seeking this specifically to help them send up small satellites in greater numbers, with greater frequency, in order to help provide redundancy and address specific needs as they arise.

The iRocket Shockwave launch vehicles are intended to carry a payload with a maximum size of around 1,500 kg (around 3,300 lbs.) and are set to take off from sites including Spaceport Oklahoma and potentially Launch Complex 48 at Kennedy Space Center in Cape Canaveral. Flexibility in terms of launch sites, including inland in the continental U.S., is another way they can support for flexibility and responsive operations for the Department of Defense and others.

iRocket plans to fly its first launch in just under three years’ time, with a plan to begin offering on-orbit satellite servicing as one of its products by 2025. It has a long way to go before that, but there’s definitely plenty of institutional interest in this from deep-pocketed government and defense customers.

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