Category: SaaS

How Headless Commerce Will Change How and Where We Buy



Dirk Hoerig is the co-founder and CEO of Commercetools, and a veteran of the ecommerce space spanning two decades. In this interview, he explains “headless commerce” and why this API-centric architecture (often built atop cloud infrastructure and microservices) is especially important in the world of online retail and digital transactions, overall. He also shares his... Read More

The post How Headless Commerce Will Change How and Where We Buy appeared first on Future.

Your cloud data needs a reality check: our investment in Cyera


This post is by Philippe Botteri from Cracking The Code


 

Yotam Segev (left) and Tamar Bar-Ilan (right), cofounders of Cyera


The complex equation of data reality


With AWS, Azure and GCP growing 40-50% YoY at massive scale (AWS’ run rate is more than $70B!), it’s fair to say that migration to the cloud is in full swing. That said, some large sectors like financial services and healthcare only started to migrate their core workloads and data to the cloud more recently. With less than a third of workloads currently migrated, there’s still a long way to go*.

 

One of the benefits of the cloud is that it gives development teams more agility and flexibility, but with increased flexibility comes the downside of a loss of control and visibility. This is a particularly acute issue for data, which is the most valuable and sensitive asset of many businesses.

 

On top of the move to the cloud, the volume of data continues to grow exponentially. Latest estimates are that the 65 zettabytes (1 zettabyte = 1 billion terabytes) of global data in 2020 will have nearly tripled by 2025**. With digital transformation accelerating and new AI based applications being created and perfected every day, this growth isn’t set to stop anytime soon. Add to this the constantly increasing compliance and privacy needs, including GDPR and CCPA, and the growth of cyber threats, and you end up with the following equation:

 

Data reality: 
cloud migration x growing data sets x increased compliance x cyber-attacks 
= big headache for CTOs (Read more...)

Accel 2021 Euroscape: On the path to global dominance?


This post is by Philippe Botteri from Cracking The Code


 


The Accel 2021 Euroscape was unveiled earlier today at SaaStock EMEA and you can view the full presentation here.


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The European and Israeli cloud ecosystem is accelerating as never before.


Back in 2016, Europe and Israel had only four public companies worth less than $9B combined and local cloud companies had raised just $900M throughout 2015. Today, Europe and Israel have generated 23 public companies worth $231B and private cloud financing reached c. $30B. The $900M of SaaS VC funding in 2015 now represents less than Europe's largest financing round, with Celonis raising $1B in June this year.


And the milestones don’t stop there: 

  • Europe generated the largest cloud IPO of 2021, with UiPath closing its first day of trading with a $36B market cap
  • Europe and Israel minted the two fastest cloud companies to hit unicorn status, with Wiz (14 months) and Hopin (17 months)


So now feels like the right time to ask: “Are Europe and Israel on the path to global dominance?” 





Before answering this, let’s take a look at what happened in the global software and cloud market over the last year.


Global market snapshot

The world now has 10 software and cloud giants worth more than $100B, representing $4.1T of market capitalization. This world of giants is dominated by one colossus: Microsoft. The company weighs in at more than half (55%) of the entire group and grew its market cap by $600B+ - more than the nine other companies combined! In 2014, (Read more...)

An open-source alternative to Google’s firebase – Our investment in Appwrite’s $10M seed round


This post is by Polina Stavrovski from Seedcamp


At Seedcamp, we are energised by the wave of open source companies that have emerged in the tech ecosystem over the last few years. Appwrite is no exception to this rule. When we first reached out cold to Appwrite’s founder Eldad Fux and he pitched us his grand ambitions, we immediately knew we were meeting a force to be reckoned with. Eldad’s vision for becoming the go-to platform for developer needs resonated with us. Today, we are delighted to see Appwrite announce a $10 million seed round led by Bessemer Venture Partners and Flybridge, with participation from us at Seedcamp and Ibex Investors. Appwrite is a self-hosted solution that provides developers with a set of easy-to-integrate REST APIs to manage their core backend needs, and to accelerate their application development through a flexible plug-and-play solution. 

Appwrite has had significant success so far in growing its community: it is one of the fastest-growing open source projects on GitHub with over 10,000 stars, more than 30,000 developers joining the Appwrite community in just the last four months and more than 250 code contributors around the globe. What we like about Appwrite (apart from Eldad’s smile) is that it is both cross-platform and technology-agnostic, meaning it can run on any operating system, coding language, framework, or platform. You can integrate Appwrite directly with your client app and use it behind your custom backend or alongside your custom backend server. 

Born and raised in Tel Aviv, Israel, Eldad began his career by contributing to (Read more...)

Business Canvas, a Korea-based document management SaaS company, closes $2.5M seed round



Business Canvas, the South Korean document management SaaS company behind Typed, announced today it has raised a $2.5 million seed round led by Mirae Asset Venture Investment, with participation from Kakao Ventures and Nextrans Inc.

The seed round will be used for accelerating product development and the global launch of an open beta for its AI-powered document management platform. The company opened an office in Santa Clara, California this year to spur its global expansion.

The problem that Business Canvas has identified and is building solutions to target is the challenge faced by people who are tasked with ingesting information and producing writing or decisions based on that: lawyers, entrepreneurs, researchers, students and communications workers like journalists among them. People are bombarded with information these days, thanks to technology. That might be good in some cases, but in the world of work, and specifically written work, there is such a thing as too much information, which can take a lot of time to process, and thus eat into the time we need to produce work based on that information.

Business Canvas, founded in 2020 by CEO Woojin Kim, Brian Shin, Seungmin Lee, Dongjoon Shin and Clint Yoo, is hoping to solve the challenge that every knowledge worker and writer faces: spending more time on research and file organization than the actual content output they need to create.

“In fact, people commit over 30% of their working hours trying to search for that file we once saved in (Read more...)

Toast raises IPO price range, providing a Monday bump to fintech valuations



U.S. technology unicorn Toast filed a new S-1 document this morning detailing a higher IPO price range for its shares. The more expensive range indicates that Toast may be worth more in its debut than it initially expected, a bullish sign for technology companies more broadly.

Toast’s rising valuation may provide a boon to two different sub-sectors of technology: software and fintech. The restaurant-focused Toast sells software on a recurring basis (SaaS) to restaurants while also providing financial technology solutions. And while it is best known as a software company that dabbles in hardware, Boston-based Toast generates the bulk of its aggregate top line from financial services.

Software revenues are valuable thanks to their high margins and recurring structure. Toast’s financial-services revenues, by contrast, are largely transaction-based and sport lower gross margins. The company’s IPO price, then, could help the private markets more fairly price startups offering their own blend of software-and-fintech incomes.

The so-called “vertical SaaS” model, in which startups build software tailored to one particular industry or another, has become a somewhat two-part business effort; many startups today are pursuing both the sale of software along with fintech revenues. Toast’s IPO, then, could operate as a bellwether of sorts for a host of startups.

To see Toast raise its range, therefore, got our eyebrows up. Let’s talk money.

Toast’s new IPO range

From a previous range of $30 to $33, Toast now expects to price its IPO between $34 and $36.

Toast now expects its IPO price (Read more...)

Inside GitLab’s IPO filing



While the technology and business world worked towards the weekend, developer operations (DevOps) firm GitLab filed to go public. Before we get into our time off, we need to pause, digest the company’s S-1 filing, and come to some early conclusions.

GitLab competes with GitHub, which Microsoft purchased for $7.5 billion back in 2018.

The company is notable for its long-held, remote-first stance, and for being more public with its metrics than most unicorns — for some time, GitLab had a November 18, 2020 IPO target in its public plans, to pick an example. We also knew when it crossed the $100 million recurring revenue threshold.

Considering GitLab’s more recent results, a narrowing operating loss in the last two quarters is good news for the company.

The company’s IPO has therefore been long expected. In its last primary transaction, GitLab raised $286 million at a post-money valuation of $2.75 billion, per Pitchbook data. The same information source also notes that GitLab executed a secondary transaction earlier this year worth $195 million, which gave the company a $6 billion valuation.

Let’s parse GitLab’s growth rate, its final pre-IPO scale, its SaaS metrics, and then ask if we think it can surpass its most recent private-market price. Sound good? Let’s rock.

The GitLab S-1

GitLab intends to list on the Nasdaq under the symbol “GTLB.” Its IPO filing lists a placeholder $100 million raise estimate, though that figure will change when the company sets an initial price range for its (Read more...)

Our investment in Liveblocks $1.4m pre-seed round to make any product collaborative in minutes


This post is by Polina Stavrovski from Seedcamp


All product teams have experienced the frustration of not being able to build collaboratively in real-time with team members. Liveblocks is on a mission to solve this pain point. Remote collaboration is now table stakes for any productivity app, and Liveblocks makes that trivial to implement. We’re excited to announce our pre-seed investment in Liveblocks, alongside Boldstart and a great group of angel investors including Moritz Plassnig (Seedcamp Entrepreneur in Residence!).

Liveblocks’s vision stands in the belief that the next generation of SaaS products are all going to be collaborative in real-time, and their goal is to help companies make that transition more easily. Their first unique API offering that was released in July, is a live presence block API. Product builders can integrate the API into the product with just a few lines of code, and team members will be able to see when someone is on the same page or product, as well as everyone’s cursor position, or text and content selection. Other products in the pipeline include online forms, virtual office, video editing tools, as well as a wide range of features including UI tools, 3D Design tools and presentation tools.

We were super impressed with the team’s background and vision. Previously, Steven ran Easee, a web animation tool that was acquired by Invision. This led him to work on design systems and tooling at Facebook messenger, and he also runs Gifmock, a tool used by thousands of people and enterprises to create Gifs. Guillaume is (Read more...)