Databricks acquires Okera to boost its AI-driven data governance platform
Key Signals in Enterprise Software
Deals Furniture retailer DFS selects Fluent Commerce’s order management system Retail Technology Innovation Hub The platform will enhance order visibility and control, improve inventory management, and reduce processing times. The move is part of DFS’s efforts to enhance digital capabilities. Read More>> Altitude Sports IDs authenticates subscribers with Synacor Platform Altitude Sports announced that it has been using the Synacor platform to authenticate subscribers and provide access to its content. The platform enables Altitude Sports to verify subscriber information and grant access to its programming across various devices. Read More>> Nigerian paytech VigiPay taps ThetaRay for Sonar AML solution VigiPay announced a partnership with ThetaRay’s Sonar anti-money laundering solution to prevent financial crime. Sonar uses AI to detect suspicious activity with a 99% reduction in false positives, allowing VigiPay to conduct transactions with larger corporations worldwide. Read More>>Partnerships UserTesting and Symplicit announce partnership to deliver customer experience solutions across APAC Region IT Voice The collaboration aims to enhance the digital experience for customers in the region. UserTesting’s human insight platform will complement Symplicit’s customer experience design capabilities. Read More>> Digital Federal Credit Union extends partnership with Sagent Sagent extends its partnership with DCU for 5 years to modernize DCU’s mortgage servicing operations by utilizing Sagent’s LoanServ platform. It offers precise and scalable execution throughout the mortgage servicing lifecycle. The partnership aims to improve DCU’s customer experience while streamlining its mortgage servicing operations. Read More>> eCloudvalley signs strategic collaboration agreement with Amazon Web Services to drive global expansion and business growth The partnership will allow eCloudvalley to leverage AWS’s cloud computing expertise and services. Read More>>Centre Setup and Expansion HPE opens the global center of excellence for HPE Ezmeral Software in Greece The company aims to develop talent for AI and open-source technology. The move follows Greece’s investment in the technology sector and its skilled talent pool. Read More>> New Epicor data center in India supports companies accelerating international growth Epicor announced a plan to launch a regional data center in India due to a 150% YoY increase in customer cloud adoption. The company also opened a new office in Bangalore as part of its global expansion plans, which has seen recent growth in international markets. Read More>>Merger and Acquisition Databricks acquires Okera to boost its AI-driven data governance platform The move aims to provide more AI-powered functionality and accelerate the Unity Catalog roadmap. Okera’s focus has been on using AI for data governance and security, and it had raised USD 29.6 million prior to the acquisition. Read More>>Executive Movements NetApp names new senior VP and general manager for APAC NetApp has appointed Andrew Sotiropolous as the new senior vice president and general manager for the Asia Pacific region. Sotiropolous, who has over 30 years of industry experience, will be based in Singapore and report to NetApp President Cesar Cernuda. He replaces Sanjay Rohatgi, who is leaving the company to pursue other opportunities. Read More>> Straive appoints Ankor Rai as Chief Executive Officer Rai is expected to drive the company’s growth and innovation strategies while building on its reputation as a leading provider of advanced data and AI solutions. His extensive experience in the industry and proven track record in driving digital transformation make him a valuable addition to the Straive team. Read More>>Financial Market and Activity Fortinet reports first quarter 2023 financial results Fortinet reports impressive financial results for Q1 2023, with a 32.2% YoY increase in total revenue, totaling USD 1.26 billion. The company’s product revenue increased by 35.0% YoY, totaling USD 500.7 million, while service revenue increased by 30.5% YoY, totaling USD 761.6 million. Fortinet’s total billings for the quarter were USD 1.50 billion. Read More>>
Key Signals in Consumer Software
Partnerships Uber expands partnership with Stripe to reduce costs & enhance payments performance Stripe is a strategic payments partner for Uber in Canada, France, Malta, Mexico, Brazil, Australia, and more. Read More>> Meydan Free Zone and noon.com collaborate to drive SME growth The partnership will provide companies in Meydan Free Zone with access to Noon.com’s platform and services. This move is expected to enhance the growth of e-commerce and support the digital economy in the UAE. Read More>> Animoca Brands partners with the world’s largest martial arts organization to create an NFT-powered mobile game Animoca Brands will develop and publish the game based on the IMMAF brand. The partnership aims to promote the IMMAF brand and generate revenue for Animoca Brands. Read More>>Centre Setup and Expansion Paysend opens a new EU office in Dublin to expand into the European market The Dublin office, led by Paysend Europe CEO Cline Singleton, will hire up to 30 employees. Paysend already operates in over 170 countries worldwide, with four global hubs. Read More>>Merger and Acquisition 1-800-FLOWERS.COM, Inc. acquires SmartGift, Inc With the acquisition, 1-800-FLOWERS.COM, Inc. aims to expand its best-in-class gifting capabilities and offerings to its customer community. Read More>>Lay Off Meesho cuts 15% of the workforce; lays off 251 employees in restructuring exercise This move is a part of the company’s restructuring exercise aimed at consolidating its operations and optimizing costs. Read More>>Executive Movements Catena Media appoints Edeen as interim CFO He will be replacing Peter Messner, who is leaving in June. Edeen has more than 16 years of experience in financial management, having previously worked at companies such as ICA Gruppen AB and Investor AB. Read More>> Lyft names Kristin Sverchek president, effective immediately Sverchek was previously General Counsel at Lyft and played a key role in the company’s IPO. She will now oversee Lyft’s operations and lead its business strategy. Read More>>Financial and Market Activity Paytm revenue surges 61% to USD 87.7 Bn Paytm has reported strong Q4 FY 2022-23 revenue growth of 51% to USD 25.6 Bn and 61% to USD 87.7 Bn for the full fiscal year. Operating profit also increased by USD 2.5 Bn, and EBITDA before ESOP costs rose to USD 1 Bn. Paytm’s loan distribution business also experienced significant growth. Read More>>
Latest Industry Insights from Draup Braindesk
Immersive 3D Experience
Adobe Systems focuses on Immersive 3D Experience within Adobe Substance 3D applications to drive innovation in this space and create new workflows that take products from concept to streets in new ways.
The company has partnered with the fashion industry to improve the value chain using Adobe Substance 3D applications to provide teams with a comprehensive set of tools that boosts creativity and enables its participation in the metaverse.
Digital Experience
Adobe Systems is committed to improving its Digital Experience by creating Adobe Experience Cloud applications, services, and platforms that manage customer journeys, enable shoppable experiences, and deliver intelligence for businesses of any size in any industry.
The company has launched Adobe Experience Manager as a Cloud Service, a purpose-built application for experience management that integrates scalable, secure, and agile content management, digital asset management, digital signage management, and customer communication applications.
AI-Powered Innovations and Expanded Workflows
Adobe Systems is keen on expanding its AI-Powered Innovations and expanded Workflow for desktop, online, and mobile to make it fast and easy to generate excellent photographs everywhere with Photoshop and Lightroom with Multi-Surface Updates.
It developed Neural Filters in Photoshop that reduce complex workflows into easy-to-use, transformative solutions for photo editing, and Lightroom Classic delivers powerful new editing capabilities and time-saving workflows for photographers using the power of cutting-edge AI and machine learning.
Key Funding Alert
Immuta receives investment from Databricks Ventures
The investment aims to integrate Immuta’s innovative technologies into Databricks’ platform to improve data governance and security for customers. This move highlights Databricks’ commitment to data privacy and governance as it seeks to strengthen the security measures of its platform. Read More>>
Startup Spotlight
Company – Betterhalf Total Funding – USD 13.75 Mn About: Betterhalf envisions building a super app of Indian matrimony and full-stack wedding services as the company’s growth pillars. Betterhalf recently raised Series A backed by FinSight Ventures (Ex Bumble investor) & other marquee investors, including Mike Krieger, Co-founder of Instagram; Arash Ferdowsi, Co-Founder of Dropbox and many others. Read More>>
Latest Reports Published in Draup
Synopsys, Inc. – Account Intelligence Report:
Synopsys aims to enable electronics Digital Twins of advanced system-on-chip design and accelerate software bring-up and power analysis. Read More>>
Coupa Software Inc. – Account Intelligence Report:
Coupa Software focuses on leveraging Virtual Payment Cards with enhanced security when paying bills or transactions to improve the purchasing process. Read More>>
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