Key Signals in Enterprise Software
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Deals
Tyler Technologies signs USD 54 Mn agreement with the U.S. Department of State
Tyler signed a five-year agreement with the U.S. Department of State’s Diplomatic Security Service for Tyler’s Case Management Development platform, the largest-ever award for such a system. The new contract will extend the services for five years and use Tyler’s solution to modernize capabilities built within an industry-leading, high-security infrastructure. Read More>>
Bitwise Asset Management selects SS&C
The capital market company has selected SS&C’s Eze investment suite to support its trading operations. Bitwise will streamline front-to-back operations for managing USD 1.3 Bn* in assets across 15 strategies, including crypto ETFs and NFT funds. Read More>>
Sacombank selects Temenos Infinity to elevate digital banking and deliver a seamless omnichannel experience
Temenos Infinity will elevate Sacombank’s digital banking and deliver a seamless omnichannel experience to retail and business customers. In selecting a new digital banking platform, Sacombank looked at various leading solutions in the market and, after a thorough evaluation, decided on Temenos Infinity. Read More>>
Mergers and Acquisitions
Bray firm Intelligo acquired by European HR solutions provider SD Worx
SD Worx’s acquisition of Intelligo will expand SD Worx’s presence in the Irish market and strengthens its portfolio of payroll and HR software. The firm has been the SD Worx payroll partner in Ireland for 16 years, making the acquisition a natural decision for both companies. Read More>>
Contract management startup SirionLabs acquires Seattle-based Zendoc to enhance offerings
The acquisition of Zendoc will further strengthen SirionLabs’ leadership in the applications of AI in enhancing contract lifecycle management (CLM) as a category. With this acquisition, SirionLabs is also looking to establish a Center of Excellence in Nice, France. Read More>>
OutSystems acquires Ionic to further automate app development
OutSystems acquired Ionic, a provider of an open-source framework that provides developers with a higher level of abstraction for building and deploying mobile and desktop applications. Ionic will provide an extension to the platform that OutSystems already uses to automate the building and deployment of low-code applications. Read More>>
Partnerships
FOO and Network International collaborate to enhance digital experiences in the MEA region
FOO will collaborate with Network International to combine its technology and expertise to streamline the transformation of incumbent financial institutions into innovative and agile players through an out-of-the-box digital wallet platform. Read More>>
Quantiphi announces partnership with Databricks
Quantiphi will partner with Databricks to help enterprise customers optimize their business workflows with AI, which will be enabled by a strong foundation of the Lakehouse platform. As Databricks Consulting Partners, Quantiphi will accelerate AI-driven innovation for clients across industries. Read More>>
ChaosSearch integrates with Datadog and Cribl to enhance operational insights
With these new partnerships, organizations can leverage the ChaosSearch Cloud Data Platform to simplify storing, searching, and analyzing massive amounts of operational data that informs more valuable strategic business decisions. Read More>>
Executive Movements
Rackspace Technology hires Bobby Molu as the new Chief Financial Officer
Rackspace appointed Bobby Molu as Chief Financial Officer, effective January 16, 2023. Molu joined Rackspace Technology from Mastercard, where he was Chief Financial Officer of International Markets overseeing Europe, Asia Pacific, Middle East, Africa, Latin America, and Caribbean markets. Read More>>
Accelya appoints Gilliland as CEO
Accelya appointed Sam Gilliland as its Chief Executive Officer. Gilliland joins the company’s seasoned executive team to lead Accelya through its next phase of growth. Gilliland held a few senior positions within the organization, including CEO of Travelocity and president of Sabre Airline Solutions. Read More>>
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Key Signals in Consumer Software
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Partnerships
Emirates partners with Traveloka
Emirates signed an MoU with Indonesia’s key Online Travel Agent, Traveloka, to enhance the brand’s cooperation and establish the grounds for a strategic partnership. The collaboration will help make Emirates flights more visible and accessible to travelers in key Asian markets, including Indonesia, Vietnam, Thailand, Malaysia, and Singapore. Read More>>
AsiaVerify and Alibaba Cloud form a partnership
The two companies announced a partnership. Alibaba Cloud has committed to helping its global partners expand worldwide with AsiaVerify’s award-winning innovative technology to enable digital business verification to be conducted in real-time, fully automated, and translated scenarios. Read More>>
Adyen teams with Instacart on PINless payments
Adyen will act as a payment services partner for grocery aggregator firm Instacart. Instacart will leverage various aspects of the Adyen payment platform, including PIN-free debit payments. Working with Instacart on debit enablement and U.S. processing in the partnership. Read More>>
Executive Movements
Shahid Naveed joins Freetrade as CTO
Freetrade appointed Shahid Naveed to lead its global engineering team as Chief Technology Officer. Naveed has nearly two decades of experience in technical leadership roles. Freetrade noted that the new appointment follows other hires, highlighting that the company is strengthening its engineering team. Read More>>
Gregori Arrieta, named Chief Operation Officer of Veepee and Adot
The company announced the arrival of Gregori Arrieta as Chief Operation Officer, a newly created position, to support the development strategy of the two entities. Gregori Arrieta’s main missions are to manage and optimize the operations of Veepee and Adot, with a transverse role of synergy between the studio, insights, trading, and customer success teams. Read More>>
John Boris appointed as Tripadvisor’s Chief Marketing Officer
Tripadvisor appointed tech, travel, and hospitality veteran, John Boris as its Chief Marketing Officer. In the role, John will establish a world-class marketing function for TripAdvisor, where he will have direct responsibility for the platform’s B2C and B2B marketing strategy and execution. Read More>>
Layoff
Zomato plans to lay off 3% of its workforce
Zomato is planning to lay off nearly 3% of its workforce on account of cost-cutting efforts and to turn profitable. The decision comes after many tech giants, and social media sites announced layoffs. At least 100 employees across functions such as product, tech, catalog, and marketing have already been laid off. Read More>>
Financial and Market Activity
Licious FY22 loss jumps over 2X to INR 856 Cr (USD 104.6 Mn), operating revenue up 1.6X
Licious consolidated net loss more than doubled in the financial year 2021-22 as advertising spending and other expenses shot up. Licious reported a net loss of INR 369.8 Cr (USD 45.2 Mn) in FY21, which had also widened over 2X from INR 146 Cr (USD 17.84 Mn) loss in FY20. Read More>>
NetEase announced Q3 2022 financial results
NetEase announced its unaudited financial results for the third quarter ended on September 30, 2022. The financial report shows an increase of 10.1% in net revenues compared to last year, in a total of RMB 24.4 Bn (USD 3.4 Bn). Games and related value-added services net revenues were RMB 18.7 Bn (USD 2.6 Bn), an increase of 9.1% compared with the third quarter of 2021. Read More>>
Jumia registers 18% revenue growth in Q3; suspends FY22 GMV guidance
Jumia reported third-quarter FY22 revenue growth of 18.4% year-on-year to USD 50.5 Mn, missing the consensus of USD 57.3 Mn. Orders increased by 10.8% Y/Y to USD 9.4 Mn, and active consumers rose 3.5% to 3.1 million. Total payment volume (TPV) increased by 3.3% to USD 66.6 Mn. Read More>>
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Latest Industry Insights from Draup Braindesk
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Key Funding Alert
WeGift raises USD 26 Mn in Series B funding
WeGift intends to use the funds to expand its digital currency network, support growth in new geographies with a focus on North America, make key hires and add new features and functionality to its solution. Read More>>
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Startup Spotlight
Company – Clicoh
Total Funding – USD 25 Mn
About: Clicoh is a startup born in Cordoba, Argentina, in 2018 that provides fulfillment and logistics solutions through innovation and technology for digital companies in Latam. Read More>>
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Latest Reports Published in Draup
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AT&T Inc. Account Intelligence Report
AT&T focuses on 5G network testbed capabilities for the Dept of Defense to enable ‘smart warehouse’ applications for the Dept of Defense’s naval base using AT&T 5G spectrum and a private 5G core and Radio Access Network (RAN). Read More>>
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Veeam Account Intelligence Report
Veeam is focused on delivering data protection and backup services via cloud-based software and solutions to avoid data breaking. It intends to provide its products for preventing and enhancing data security from hackers and ransomware. Read More>>
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Introducing Notes
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