Category: Software

Thomvest Invests in Evidence Partners, the Leader in Literature Review Software



Thomvest is excited to announce that we led a $20 million investment in Evidence Partners, the market leader in AI-enabled literature review software. Evidence Partners’ primary product, DistillerSR, automates systemic literature reviews for more than 300 of the world’s leading research organizations, including more than 60 percent of the largest pharmaceutical and medical device companies. This financing will allow Evidence Partners to invest across the organization and accelerate its lead in this growing market.

Whether an organization produces pharmaceuticals, develops medical devices, or it is an academic institution or scientific regulatory body, systemic literature reviews are a critical part of their work. Expert researchers at these organizations study scientific literature to answer questions like, “is our medical device safe?” or, “is there any evidence that the economic benefit of our product has changed?” or, “what is the safe level of a chemical in the environment?”

The work of these research teams is becoming difficult for two key reasons. First, new scientific research is being published daily, which could change the understanding of the use, efficacy, or economic impact of a drug or device. Second, the regulatory demands on these organizations are always increasing. For example, the European Union’s Medical Device Regulation introduced in 2017 has significantly increased the regulatory oversight of medical devices there. Not only is there more research to review, the regulators are insisting that submissions be auditable and reproduceable. These dual pressures mean that research organizations need to automate how they operate in order to keep up (Read more...)

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...)

The Top 10 Biggest Companies in India


This post is by Omri Wallach from Visual Capitalist


The Top 10 Biggest Companies in India

The Top 10 Biggest Companies in India

When India hosted the 13th BRICS summit in September 2021, it was the sixth-largest economy in the world with a GDP of $3.05 trillion.

That’s more than double the GDP it had when the country first joined the group of emerging economies in 2009 (alongside Brazil, Russia, China and later South Africa), at $1.3 trillion.

What are the major industries and companies driving this growth in GDP, and rising alongside it? This time we’re highlighting the top 10 biggest companies in India, the world’s most populous democracy.

What Are the Biggest Public Companies in India?

India’s growth to one of the world’s most powerful economies came extremely quickly, considering it only became a federal republic in 1950.

In 1951, the country was considered relatively impoverished compared to the Western world, with 361 million people, a per-capita income of just $64, and a literacy rate of 17%. By 2021, the population had surged to 1.2 billion, income rose to $1,498, and literacy climbed to 74%.

And most of that growth was fueled internally, as the Indian government was largely protectionist until the 1990s. Today, its free market policies and wide cultural reach help bolster the country’s massive industrial, agricultural, and telecommunications industries.

Here are India’s biggest public companies by market capitalization in October 2021:

Top 10 Indian CompaniesCategoryMarket Cap (USD)
Reliance IndustriesOil and Gas$230.7B
Tata GroupInformation Technology$186.7B
HDFC BankFinancial$135.1B
InfosysInformation Technology (Read more...)

The all-in-one operating system for accountants: our £2.25M seed investment in Pixie


This post is by Polina Stavrovski from Seedcamp


Accounting and bookkeeping teams are still using outdated software to organise manage clients, deadlines, and workflows. It’s an old yet persistent problem in need of a solution. A solution like Pixie, an all-in-one beautiful practice management software that organises accountants’ days for them. We are thrilled to be backing the Pixie team, alongside our friends at Triple Point Ventures, MMC Ventures and some exciting angels including Duane Jackson and Will Neale, in their £2.25M seed round.

Celso Pinto, Pixie’s founder and CEO, is no stranger to us. It’s the second time we have had the opportunity to partner up with him: the first time around, he built GoSimpleTax, which aims to simplify tax returns. Armed with first-hand learnings from his time at GoSimpleTax, Celso is now building Pixie, which is on a mission to create the operating system for small firms around the world. By centralising and automating processes through the platform’s intuitive workflows, he aims to i) manage the large amount of user workflows more effectively, ii) fast-track the scaling of companies by increased efficiencies, and iii) bolster client satisfaction, as no stones remain unturned.

“Accountants and bookkeepers are the unsung heroes of thriving small business communities everywhere, working hard to ensure their clients remain compliant, organised, and successful,” Celso states. “But through conversations with hundreds of accountants, I noticed how challenging it is to manage their own firms as they struggle to adopt traditional practice management applications due to the software’s complex nature. Our quick (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...)

Truepic, which just raised $26M in a Microsoft-led round, aims to verify the authenticity of photos and videos



Truepic, a digital image verification software provider, has raised $26 million in a Series B funding round led by M12, Microsoft’s venture fund.

Adobe, Sony Innovation Fund by IGV, Hearst Ventures and individuals from Stone Point Capital also participated in the financing, which brings San Diego-based Truepic’s total raised since its 2015 inception to $36 million.

Rather than trying to detect what is fake, Truepic says its patented “secure” camera technology proves what is real. The startup’s technology acquires “provenance” data (such as origin, contents and metadata) about photos and videos and uses cryptography to protect the images from tampering before they reach the intended recipients. 

As such, the company says its software can authenticate where photos were taken and prove that they were not manipulated since there are an increasing number of deceptive photos and personal information that can be purchased on the Dark Web, social media and via software that can change the metadata of an image’s time or location.

“Our approach is unique in that we are verifying the authenticity of content at the point it is captured, which is also referred to as ‘provenance-based media authentication’ versus detecting anomalies or edits post-capture,” Truepic CEO Jeff McGregor told TechCrunch. “We believe that detection of fake images and videos will not be viable or scalable. Provenance-based media authentication is the most promising approach to universal visual trust online.”

Truepic’s camera technology is software-based, and runs on mobile devices. Photos and videos captured through its camera are cryptographically assured (Read more...)

“To build a community, you need to focus much more on the user than on the buyer” – Snyk’s Guy Podjarny


This post is by Philippe Botteri from Cracking The Code


 


Cybersecurity unicorn Snyk was founded in 2015 with the mission to help developers make their code secure. Just a few years on and Snyk has evolved from being an open source vulnerabilities scanner and to becoming the world’s first developer security platform that start-ups worldwide can build upon. Snyk customers and users collectively have run more than 300 million tests in the last 12 months and fixed more than 30 million vulnerabilities in the last 90 days.

 

As the company announces its $530 million Series F at a valuation of $8.5 billion, it’s clear that Snyk is driving the industry’s shift to a new developer-centric approach to security and is now the undeniable leader in this space. In 2021 so far, the company has:

 

  • Increased annual recurring revenue by 154% year-over-year
  • Grown its customer base to 1,200+ companies, including established enterprise leaders and emerging hypergrowth technology companies
  • Hired and onboarded 320 employees, projecting 800+ by year end
  • Delivered more than 40+ new product features
  • Acquired FossID to expand license compliance and C/C++ capabilities


I sat down with co-founder Guy Podjarny to get his tips on building a community, how to deal with hypergrowth, the importance of having people across multiple offices and continents feel like one team and more…

 

Let’s start with your entrepreneurial journey. You’re a serial entrepreneur - some of your companies have been acquired and Snyk’s a great success. What attracted you to entrepreneurship, coming out of the 8200 Intelligence Unit?

 

I’ve (Read more...)

Announcing the agenda for TechCrunch Sessions: SaaS



TechCrunch Sessions is back!

On October 27, we’re taking on the ferociously competitive field of software as a service (SaaS), and we’re thrilled to announce our packed agenda, overflowing with some of the biggest names and most exciting startups in the industry. And you’re in luck, because $75 early-bird tickets are still on sale — make sure you book yours so you can enjoy all the agenda has to offer and save $100 bucks before prices go up!

Throughout the day, you can expect to hear from industry experts, and take part in discussions about the potential of new advances in data, open source, how to deal with the onslaught of security threats, investing in early-stage startups and plenty more.

We’ll be joined by some of the biggest names and the smartest and most prescient people in the industry, including Javier Soltero at Google, Kathy Baxter at Salesforce, Jared Spataro at Microsoft, Jay Kreps at Confluent, Sarah Guo at Greylock and Daniel Dines at UiPath.

You’ll be able to find and engage with people from all around the world through world-class networking on our virtual platform — all for $75 and under for a limited time with even deeper discounts for nonprofits and government agencies, students and up-and-coming founders!

Our agenda showcases some of the powerhouses in the space, but also plenty of smaller teams that are building and debunking fundamental technologies in the industry. We still have a few tricks up our sleeves and will be adding some new (Read more...)

Accel 2021 Euroscape submissions are open – apply now!


This post is by Philippe Botteri from Cracking The Code



- This article was co-authored with my colleagues Lucy Wimmer, Varun Purandare and Candice du Fretay. The Accel 2021 Euroscape will be presented at SaaStock in October.

You can now put your company forward for Accel’s 2021 Euroscape, the list of the top 100 SaaS companies across Europe and Israel. All information submitted is confidential and applications close on 31 August, 2021. If you want the chance to increase your company’s visibility across the ecosystem, APPLY NOW!

It’s now five years since Accel launched its inaugural Euroscape report - SaaS Wars: Europe Awakens. Back then, we could already see that SaaS was exploding in both quantity and quality of companies:

  • 50% of our 10 most recent investments in Europe were SaaS companies
  • The number of companies had grown 4x between 2007-09 and 2013-15
  • The amount raised by European SaaS companies had more than doubled 

However, the increased activity at the early stages had yet to translate into exits, with only four major exits as Qlik, Wix, Zendesk and Mimecast IPOed. The combined market cap of these companies was around $9 billion. By comparison, the US had seen around 60 SaaS IPOs with a combined market cap of close to $140 billion.

Five years on and Europe and Israel’s SaaS landscape hasn’t just awoken, it’s well and truly soaring at all stages. Last year saw an explosion of investment in private cloud companies founded in Europe and Israel, with funding hitting $13 billion. Not only is this a far (Read more...)