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May 12, 2021 Massive Upgrade Cycle Digital transformation and mass migration to the cloud are the two dominant IT sector themes that took hold across the business world in 2020, and these themes are expected to continue to play out in the slow return to normalcy in 2021. Many economically ravaged sectors, such as hospitality, are fighting for survival, and scrambling to make up lost ground. To adapt in a post-Covid world, they’ll need to run more efficiently while adapting to new consumer habits and expectations, as well as supply-chain reconfigurations. Heady stuff for industries accustomed to a pre-Covid playbook. Regardless of whether a particular sector or company is teetering because of pandemic shutdowns, or rocketing upward, or reversing course with the reopening, there is “a massive upgrade cycle, with a ton of cash going to enterprise IT,” said ....
Press release content from Business Wire. The AP news staff was not involved in its creation. Battery Ventures Leads Growth Investment of More Than $150 Million in Growing Subscription Management Sector April 21, 2021 GMT SAN FRANCISCO (BUSINESS WIRE) Apr 21, 2021 Battery Ventures, a global, technology-focused investment firm, today announced it led a combined growth-equity investment of more than $150 million in two complementary, cloud-software platforms that manage billing and automate related financial functions including payments, revenue recognition and analytics for software-as-a-service (SaaS) companies. The two companies, SaaSOptics and Chargify, together are trusted by more than 2,000 customers and manage more than $10 billion in customer annual recurring revenue. Some of the world’s most high-profile SaaS brands use SaaSOptics and Chargify to power their subscription billing and financial operations. The Battery investment is intended to power gro ....
Why one Databricks investor thinks the company may be undervalued The recent Databricks funding round, a $1 billion investment at a $28 billion valuation, was one of the year’s most notable private investments so far. For Databricks signaled its IPO readiness by disclosing to TechCrunch last year that it had scaled its revenue run rate from $200 million to $350 million in a year, so the new capital looked like the capstone on its private fundraising before an eventual public debut. But I did have a few questions, starting with the price of the round. At a $28 billion valuation and ARR of $425 million, Databricks is valued at around 66x top line. That’s steep, if not the highest number we can dredge up on the public markets. Of course, for Databricks shareholders, seeing the value of their stock rise so quickly is hardly a bad thing. They are hardly going to complain about having more paper wealth. ....
Results for The week that was in Israel s innovative tech ecosystem As COVID vaccines light the way to a new year, the future is looking mighty bright for Israel s tech ecosystem. Dor Schwartz / 21 Dec 2020 • 4 min read As the holidays approach you would think that Israel s startups would cool off on the announcements, but it seems that even the holiday season can t slow down innovation and funding in one of the world s leading tech ecosystems. From new Unicorns to major market partnerships, Israeli startups close out the year on a very high note, with the gift under the tree being a LiDAR company heading for a NASDAQ IPO. ....
Bionic, a Palo Alto, Calif.- and Tel Aviv, Israel-based application intelligence company, emerged from stealth with $17m in funding. The Series A round was led by Battery Ventures’ investors Dharmesh Thakker and René Bonvanie. Thakker is a Battery General Partner while Bonvanie is an Executive in Residence and CMO Emeritus of Palo Alto Networks. As part of the investment, Bonvanie joined Bionic’s Board of Directors which currently includes early investors Gili Raanan of Cyberstarts, and Michael Fey, former president of Symantec and Blue Coat. Additional investors in Bionic include Don Duet, former CTO at Goldman Sachs, Sameer Jain, former CIO of Barclays, and Ariel Maislos, founder of Passave and Anobit. ....