Key Signals in Enterprise Software
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Partnerships
Mirum India partners with Sprinklr to provide CRM solutions to its clientele
The partnership enables Mirum India to provide digital marketing guidance and access to Sprinklr’s enterprise software platform for digital marketing, research, customer service, and social media management, fostering client growth in customer relationship management and value creation. Read More>>
Opswat partners with Digital China
As an authorized distributor of OPSWAT’s solutions, Digital China will provide comprehensive network security solutions, protecting critical infrastructure and enabling digital transformation for Chinese businesses. Read More>>
Stellar Cyber, Mimecast partnership delivers phishing attack security
The partnership will integrate Mimecast’s threat data with its Open XDR platform. Multiple MSSPs that offer security services, such as SOC-as-a-service and MDR-as-a-service, have integrated Stellar Cybers’ platform. This alliance strengthens enterprise cybersecurity software solutions. Read More>>
Deals
Ramco Systems grabs new contract with Australian company Skytek Pty Ltd
Skytek Pty Ltd has commissioned Ramco Systems to implement its aviation suite V5.9, which will integrate and automate multiple operations. The partnership aims to foster the expansion of Skytek’s business and boost productivity through enhanced process efficiencies. Read More>>
Branson and Missouri select Tyler Technologies Enterprise ERP and Enterprise Permitting & Licensing Solutions
Branson has selected Tyler’s Enterprise ERP software suite, which includes financial management, human resources management, and utility billing, in addition to the Enterprise Permitting & Licensing solution. The selection was based on Tyler’s breadth of solutions, application of technology in a practical manner, and improved integration of city departments. Read More>>
Yodlee signs data access deal with American Express
Integrating Yodlee’s platform will provide digital banking options and streamlined connections to reputable financial tools for enhanced personal finance and expense management. American Express customers can securely access their account information via the Yodlee platform. Read More>>
Centre Setup and Expansion
Equinix expands Malaysia footprint with new data center
With an investment of US$ 100 Million, Equinix plans for its first IBX data center in Cyberjaya, Kuala Lumpur. The new data center, KL1, will offer 450 cabinets and 1,300 square meters of colocation space in the first quarter 2024. Malaysia’s expanding data center market and digital economy fuel EQIX’s regional growth. Read More>>
Mergers and Acquisitions
Tanla to acquire ValueFirst Group in an all-cash deal of up to INR 395 Cr (US$ 48.1 Mn)
Acquiring ValueFirst Digital Media and ValueFirst Middle East will strengthen Tanla’s global presence and increase its SMS revenue market share to approximately 45%. The transaction is anticipated to close in September 2023. Read More>>
Gorilla Technology buys Bacom Internetwork
Gorilla Technology Group’s acquisition of Bacom Internetwork aims to strengthen Gorilla’s presence in the Smart City market and capitalize on Bacom’s potential for significant growth. Read More>>
Executive Movements
Veeam appoints Kacy Hassack as Chief People and Culture Officer
Kacy, who has held leadership positions at global technology companies such as Amazon Web Services and Dell, will focus on building a strong team at Veeam. She emphasizes the significance of individuals in driving the company’s success and sustaining a customer-centric culture. Read More>>
Rubrik names new chief marketing officer
Andres Botero has been appointed Chief Marketing Officer at Rubrik, bringing over 20 years of experience in the data security industry. Botero was formerly the Chief Strategy and Marketing Officer at BlackLine. He intends to address threats to data security, including ransomware. Read More>>
Layoff
HashiCorp trims workforce by 8%
Despite a strong first fiscal quarter in which revenues increased by 37%, HashiCorp plans to reduce its workforce by 8% as part of cost-cutting measures. Before the layoffs, the organization had over 2,000 employees. Read More>>
Product Launch
OpenAI implements new features
OpenAI has recently upgraded ChatGPT, making it an easier-to-use and more trustworthy developer tool. The introduction of function calling enables programmers to use code from function descriptions. OpenAI has also reduced the price of its developer tools, fostering innovation and expanding its capabilities. Read More>>
Financial and Market Activity
ADBE Infographic: Adobe Q2 2023 profit rises on strong revenue growth
Adobe Inc. reported second-quarter revenues of US$ 4.82 Billion, an increase of 9.8% compared to last year. Strong performance in the core Digital Media business drove the expansion. Adjusted net income per share increased to US$ 3.91. Read More>>
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Key Signals in Consumer Software
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Partnerships
Scorpion partners and integrates with Thumbtack
This partnership enables faster lead response times and streamlined operations, with benefits such as centralized communication, digital marketing tools, and an increased conversion rate of Thumbtack leads to booked jobs. Read More>>
Grubhub partners with Homewood Suites for off-site dining
Grubhub and Homewood Suites by Hilton have partnered to provide hotel guests with off-site dining options via the Grubhub app. Nearly 500 Homewood Suites locations in the United States will enable guests to place orders from nearby restaurants and convenience stores using geolocation and QR codes. Read More>>
Deals
Light & Wonder agrees with Shift4 to boost its state-of-the-art cashless gaming solution
Under the terms of the agreement, payment processing technology will be integrated into Light & Wonder’s cashless table-top debit solution AToM. AToM enables players to access funds during gameplay securely and conveniently. The companies aim to provide a seamless gaming experience and increase customer satisfaction. Read More>>
Irdeto signs a contract with OSN for app watch and anti-piracy services
Irdeto will provide OSN with App Watch, anti-piracy services, app management, and data analytics per the contract terms. The agreement strengthens their long-standing partnership and commitment to delivering secure, high-quality content in the MENA region. Read More>>
Centre Setup and Expansion
Yandex to open its biggest international office in Serbia
Yandex intends to establish a development center employing 800 engineers to improve urban mobility and collaborate with the City of Belgrade to implement more efficient and sustainable solutions. Read More>>
Merger and Acquisition
Entain completes CA$ 13.2 Mn Sportsflare purchase
Entain has acquired Tiidal Gaming NZ, including its esports betting developer Sportsflare, for CA$ 13.2 Million (US$ 9.9 Mn) in Canadian dollars. This acquisition enables Entain to expand its betting options to include popular esports products and includes the purchase of Unikrn’s technology and esports betting platform. Read More>>
Executive Movements
Deliveroo Qatar appoints Seham Al Husaini as the new general manager
In addition to her role as general manager of Deliveroo Kuwait, she is also a writer. Seham’s background in consulting and experience in high-tech and logistics companies enables her to drive the expansion of Deliveroo in Qatar. Read More>>
ThriftBooks appoints Charles Sells as Vice President of Human Resources
With over 25 years of HR management experience, Sells has a proven track record of fostering organizational success and implementing innovative HR programs. During his tenure at CBRE, Sells has demonstrated his ability to facilitate growth opportunities and manage large-scale employee transitions. Read More>>
Product Launch
Meta announces AI-powered speech tool Voicebox, calls it ‘Eraser’ for audio editing
Voicebox, an AI tool capable of generating speech in six languages, has been released by Meta. It has the potential to benefit visually impaired individuals by allowing them to listen to written messages in their voice, and it can analyze short audio clips to generate text-to-speech output in a similar tone. Read More>>
Layoff
Grubhub lays off
To invest in the growth of its core business, Grubhub has let go of 400 employees or approximately 15% of its workforce. Before the layoffs, the company had 2,800 employees, most of whom were in Chicago. Read More>>
Financial and Market Activity
ASOS revenue drops 14% for Q3 FY 23
ASOS reported Q3 FY 2023 revenue of £858.9m ($1.08 billion), a 14% decrease from the same quarter in FY 22. Year-to-date revenue is down 9% to £2.7 billion. UK sales fell by 15% to £370.3m, while US and EU sales dropped by 8% and 21%, respectively. Read More>>
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Latest Industry Insights from Draup Braindesk
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Zoom’s Product Innovation
- Zoom Video Communications enhances the Smart Gallery feature, leveraging AI to create individual video feeds that ensure clear visibility for all participants, enhancing the collaborative experience in hybrid work environments.
- The company focuses on research and development, creating innovative products like Zoom Contact Centre and cutting-edge technologies that optimize Zoom One by integrating features like persistent chat, phone, meetings, and whiteboard into a secure and scalable package.
User Experience & Security Enhancement
- Zoom Video Communications prioritizes cutting-edge communication and collaboration technology to provide an exceptional user experience by developing on-demand and customer-requested features.
- Zoom Video Communications enhances end-to-end encryption for one-on-one phone calls on Zoom Phone, prioritizing user security and ensuring improved protection and privacy during conversations on the platform.
Advanced Technology Solutions
- Zoom Video Communications focuses on advancing technologies like Horizon Workrooms, Cloud Contact Center, and a comprehensive video collaboration suite to empower seamless and effective video communication for enhanced productivity and collaboration in various settings.
- The company focuses on developing cutting-edge technologies like 3D virtual avatars, Conversational AI, Real-Time Digital Canvas, and Multi-LanguageCaptions to elevate the customer experience. Service providers with Advanced Technology Solutions to serve with better solutions for Zoom video communications.
Digital Telecom Infrastructure Solutions
- Zoom Video Communications is keen on enhancing digital telecom infrastructure to enable IoT connectivity in smart cities and industrial automation that offers self-service options and utilizes conversational AI to improve customer support.
- Zoom Video Communications’ platform leverages cloud computing to deliver scalable and agile services, ensuring a high-quality audio and video conferencing experience. Service Providers with rich expertise in expanding Digital Telecom Infrastructure Solutions would be apt to serve Zoom Video Communications with better solutions.
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Key Funding Alert
Software firm Okta invests in AI as CEO warns it too soon for regulation
Okta Inc. plans to allocate approximately US$ 40 Mn from its annual R&D budget to new artificial intelligence projects. Okta aims to develop a bot to guide customers on product usage. Okta has customers such as UK retailer Boohoo Group and parts of the US federal government. Read More>>
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Startup Spotlight
Company – Betr
Total Funding – USD 50 Mn
About: Betr is a micro-betting platform that brings instant gratification to sports betting. It provides tools to encourage responsible play and gives gamblers control over their behavior. It encourages them to use these tools to maintain a fun and safe experience. Read More>>
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Latest Reports Published in Draup
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Here’s what’s new on our Sales Intelligence Platform
Introducing Outsourced Workloads and Tech Stack Developer filters in Universe
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- Effortlessly filter companies based on their outsourcing engagements using the new Outsourced Workloads filter in Universe.
- Filter Accounts in Universe based on the Tech stack they use that is developed by specific developer companies.
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