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Author: Deborah Schalm

  • Allego Expands Sales Learning and Enablement Market Leadership with Acquisition of Refract

    UK-Based Firm Brings Advanced Sales Conversation Intelligence and Sales Engagement Tech to Allego Platform

    NEEDHAM, Mass. December 9, 2020 — Allego, the leader in sales learning and enablement solutions, today announced its acquisition of Refract, a UK-based leader in sales engagement and multilingual conversation analytics. Refract brings to the merger deep capabilities in revenue intelligence—delivering AI-enhanced content and coaching recommendations from sales calls, demos and meetings—to improve sales outcomes and grow revenue. The combination of Allego and Refract not only strengthens Allego’s current marketing-leading position as an all-in-one provider of sales enablement, including sales learning and content management, but also forms the foundation for critical new sales engagement capabilities that will power post-pandemic sales professionals who must succeed in virtual selling.

    This acquisition builds on a year-long partnership between Allego and Refract, during which a portion of Refract’s conversation analytics technology was integrated into Allego’s sales call recording and coaching capability. Now, the combined companies will significantly expand the current integration, while rapidly bringing new AI technologies, reporting, analytics, and prospect engagement capabilities to customers.

    “We’ve had the opportunity to get to know the Refract team over the last year and we couldn’t be more excited to welcome this impressive group to the Allego family,” said Yuchun Lee, CEO and Co-Founder of Allego. “In addition to bringing powerful new tech to the Allego platform, the Refract team expands our presence in the UK, serving as our new European headquarters with a full complement of talent across engineering, sales, marketing, and customer success to help drive the company’s global expansion. This is a powerful union that will bring more value to our joint customers and add rocket fuel to our vision for virtual sales learning, enablement, and engagement.”

    With 70% of sales people expressing concerns about their effectiveness in remote selling scenarios, it’s more important than ever for sales and sales enablement leaders to analyze their teams’ real world interactions between reps, prospects and customers, to understand what top performers do differently and what leads to successful outcomes, in order provide in the moment learning and coaching that improve revenue performance. Remote and virtual teams are turning to sales learning and enablement platforms like Allego to deliver the just-in-time guidance and relevant sales content they need to continuously improve seller competency and close more business.

    “Revenue is won and lost in sales conversations. Our mission at Refract has always been to help sales reps close more deals by better understanding their revenue defining moments,” said Kevin Beales, CEO and Founder of Refract. “Now, as part of Allego, we can enhance the Allego all-in-one experience by identifying those key moments, and trigger the learning, coaching, content, and customer engagement that support increasingly remote teams to accelerate revenue performance.”

    About Refract

    Refract is a provider of sales engagement and conversation analytics that helps sales teams around the world improve conversations and close more deals. Refract analyses every call and demo, profiling the revenue defining moments, revealing the DNA of successful outcomes for your team. Sales leaders and individual reps use Refract to develop faster through reflection, replicating top-performing peers, and deliver ‘conversation triggered’ learning & resources. Supported by a wide range of integrations with tools such as Hubspot, Aircall, Salesloft, Zoom and many more. Learn more at https://www.refract.ai.

    About Allego, Inc.

    Allego’s learning and enablement platform ensures that employees have the skills, timely knowledge, and supporting materials to accelerate team success. Instead of traditional onboarding and training marathons—which are rapidly outdated and quickly forgotten—enablement and training teams use Allego to deliver the fresh, bite-sized learning that employees need to close deals in today’s dynamic business environment. Content is personalized and mastered through reinforcement, on-the-job coaching, and peer collaboration. Nearly 500,000 professionals use Allego to onboard faster, deliver consistent messaging, quickly find critical sales content, rapidly adopt best practices, coach and practice more frequently, and collaborate more effectively. To learn more about Allego and learning and enablement in the flow of work, please visit https://www.allego.com.

  • CD Foundation Welcomes Ortelius, Open Source Microservices Management Platform, As New Incubating Project

    Ortelius joins CD Foundation Founding Projects Jenkins, Jenkins X, Spinnaker, Tekton, and Incubating Project Screwdriver under the Linux Foundation Umbrella

    San Francisco, December 8, 2020 – The Continuous Delivery Foundation (CDF), the open-source software foundation that seeks to improve the world’s capacity to deliver software with security and speed, today announced that Ortelius has become an Incubating Project under the CD Foundation.

    Ortelius is an open source microservices management platform that simplifies the organization, sharing and release of microservices and other reusable components. Ortelius integrates with CD orchestration tools and external deployment engines such as Helm, Ansible and Spinnaker.

    “Companies are struggling with the complexities found in a microservice architecture. We started the Ortelius.io project to solve these challenges. Ortelius is a platform for organizing, sharing and versioning microservices and the ‘logical applications.’  It is an honour to have been accepted as an incubating project with the CDF. It is the right home for a platform that is designed to simplify a microservice architecture integrated into CD,” said Tracy Ragan, CEO DeployHub, Inc. and CDF General Membership Board Representative.

    “We are extremely pleased to welcome Ortelius as a new Incubating Project of the CD Foundation. They are addressing key issues around microservices management and fit well into the CD Foundation Landscape as part of the toolkit for enterprises implementing continuous delivery,” said Tara Hernandez, Technical Oversight Committee Sponsor for Ortelius, and Engineering Manager, Google. “We are looking forward to working closely with the whole Ortelius community.”

    The CD Foundation provides a wide range of services to support open source projects, and projects begin the process as an Incubation Project. This is for projects that are interested in reaching broad adoption and have identified a growth plan for doing so. Projects receive mentorship from the CD Foundation Technical Oversight Committee (TOC) and are expected to actively develop their community of contributors, governance, project documentation, and more. Full details on bringing an open source continuous delivery project to the CDF are available here.

    “Microservices provide the ideal architecture for continuous delivery, allowing organizations to maximize deployment velocity and innovate faster. Tools supporting this new application architecture have been lacking. We welcome Ortelius to the CD Foundation to help improve microservice adoption and implementation of better development practices,” said Tracy Miranda, Continuous Delivery Foundation Executive Director. “We are excited to take the next step with both developers and users of continuous delivery.”

    “The TOC has worked with Ortelius extensively to prepare for the transition over to Incubation Project. We are extremely pleased to welcome Ortelius to the CD Foundation, and are excited for all the progress coming up in 2021 and beyond,” said Dan Lorenc, Technical Oversight Committee (TOC) Chair. “Welcome!”

    Additional CD Foundation Resources

     

     

    About the Continuous Delivery Foundation

    The Continuous Delivery Foundation (CDF) seeks to improve the world’s capacity to deliver software with security and speed. The CDF is a vendor-neutral organization that is establishing best practices of software delivery automation, propelling education and adoption of CD tools, and facilitating cross-pollination across emerging technologies. The CDF is home to many of the fastest-growing projects for CD, including Jenkins, Jenkins X, Tekton, and Spinnaker. The CDF is part of the Linux Foundation, a nonprofit organization. For more information about the CDF, please visit https://cd.foundation.

    About Ortelius

    Ortelius simplifies the implementation of microservices. By providing a central catalog of services with their deployment specs, application teams can easily consume and deploy services across clusters. Ortelius tracks application versions based on service updates and maps their service dependencies eliminating confusion and guess work. More information at https://ortelius.io

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    The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see our trademark usage page: https://www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds.

  • Gluware 4.0 Empowers Enterprises Through New Cloud-Delivered Intelligent Network Automation with Expanded Access, Flexibility and Performance

    New multi-engine architecture automates multi-vendor, multi-domain networks with new SaaS deployment options, pricing tiers, and multi-cloud integration

    SACRAMENTO, Calif. — Dec. 8, 2020 — Gluware, Inc., the leading provider of Intelligent Network Automation, today unveiled Gluware 4.0, its next-generation, cloud-delivered intent-based network automation platform. Gluware 4.0 introduces an expanded feature set and customization to help any sized network team automate the management, maintenance, and security of increasingly complex, mission-critical enterprise networks. Its new multi-engine architecture automates networking functions across a growing list of multi-vendor, multi-domain and multi-cloud infrastructures to enhance the network agility, performance, and security that today’s complex enterprise networks require.

    Gluware 4.0’s new SaaS model simplifies the user onboarding and management process and introduces a free pricing tier for inventory management, providing greater access to intelligent network automation capabilities for enterprises of all sizes. Gluware facilitates the growing need of organizations to shift from costly, error-prone and time-consuming network management to code-free intent-based network automation to enhance network security, reduce time to value and to improve agility and return on IT investment.

    “Today many enterprises are transforming their IT architecture. Whether that transformation started during or before pandemic, businesses are faced with data-centric environments and increasingly distributed networks. Network management and maintenance have become more costly and difficult as networks span complex clouds, domains, and devices,” said Shamus McGillicuddy, Vice President of Research, Network Management, Enterprise Management Associates. “When this happens, costs spiral out of control, network security is threatened, and interoperability suffers. To mitigate these issues, enterprises should look for intelligent and flexible automation solutions, like those offered in Gluware 4.0.”

    The adoption of network automation faces a number of barriers including vendor lock-in and a lack of consistency, standardization, and portability between infrastructure providers that limits businesses’ abilities to move beyond basic network automation, according to Gartner’s 2020 Market Guide for Network Automation and Orchestration Tools. Gluware 4.0 supports an expanded array of network devices and operating systems from leading vendors, including Juniper Networks, as well as the latest operating system from Aruba, a Hewlett Packard Enterprise company – AOS-CX, a leading converged platform gaining traction in the enterprise – and support for AOS-Switch and ProVision. Gluware 4.0 also integrates with Terraform to automate multi-cloud networks.

    “Gluware’s unique platform brings intent-driven automation to real-world heterogeneous networks built up over many years. Their support for AOS-CX will help customers adopt modern networking capabilities such as built-in analytics and self-validation more easily, and with more ongoing automation, than would otherwise be possible,” said Michael Dickman, SVP for Product Management at Aruba. “Aruba is committed to open, multi-vendor networking and is glad to integrate with vendors like Gluware who share that vision for customer-first value creation.”

    Gluware 4.0 introduces two new network automation offerings, Gluware Pro and Gluware Enterprise. Gluware Pro is a cloud-delivered SaaS automation application suite powered by the Gluware Secure Gateway to achieve security and rapid onboarding in an easy to consume subscription model including a free-tier for network discovery and inventory. The Gluware Secure Gateway provides an onramp to Gluware running in AWS, encrypting the control messages from the cloud and performs multi-engine provisioning activities to each network device. Gluware Pro is packaged for up to 2,000 devices per customer.

    Gluware Enterprise, a robust application suite, is optimized for the largest and most complex enterprises, automating global networks with distributed Gluware Zone Engines in geographic or logical groups for high scalability and security. Gluware Zone Engines enable customers to distribute multiple Gluware provisioning engines in strategic geographical locations to achieve the scale and performance required for tens of thousands of devices per enterprise. Gluware Enterprise is customizable with multiple deployment options including on-premises, customer cloud (AWS or Azure), Azure Marketplace delivered or Gluware hosted on AWS.

    “The networking demands of the enterprise are changing drastically as digital transformation and remote work adoption accelerate alongside the pandemic. Cloud-enabled network automation is a vital lifeline to those in I&O roles who need to mitigate the complexity of rapidly evolving enterprise networks,” said Jeff Gray, CEO and Co-founder, Gluware. “Gluware 4.0 is the industry’s first cloud-delivered intelligent automation platform for multi-domain, multi-vendor and multi-cloud networks that combines the intelligence, security and feature sets to transform enterprise networks from manually built and maintained, to fully automated and secure, so complexity is never an issue.”

    Gluware 4.0 introduces a number of new core capabilities and user benefits, including:

    • Expanded Network Vendor Support – Support for Aruba AOS-CX, AOS-Switch and ProVision; and Juniper Networks’ Junos OS for the EX, MX, QFX and SRX platforms help customers manage complex network configurations and deliver change at scale with the confidence of declarative automation.
    • Multi-Cloud Network Automation – Integration with Terraform enables users to automate the configuration of public cloud infrastructure including Amazon Web Services (AWS), Microsoft Azure and Google Cloud.
    • EVPN-VXLAN Multi-vendor Reference Design Package – Config modeling application enables simple automation of advanced architecture with standards-based leaf-routed/ERB and Juniper spine-routed/CRB support.
    • Gluware Dashboard – User-definable dashboards help customers quickly assimilate critical information in an actionable and fully integrated new design.
    • Config Search – Search functionality across any or all device configurations aids in troubleshooting, building audits and automating network features.
    • Ad-Hoc Query – The automated checking of each device configuration or state saves time when troubleshooting and performing assessments.
    • Syslog Integration – Real-time multi-vendor change notifications enhance the management of increasingly frequent network changes.
    • Enhanced OS Manager Engine – Expanded OS Manager capabilities improve the ability to successfully execute OS upgrades in complex deployments.
    • Cisco License Inventory Report – Automatic network audits for Cisco licensing and smart licensing enable customers to perform their own audits to save time and money.
    • Enhanced Audit Capabilities – Finer control of audit rules can help validate individual configurations independently, verify when order matters, and group commands into a single set, expanding audit use-cases and simplifying results.
    • User Defined System Banners – Default system banners defined by users show required information like company policies and legal disclaimers when logging into the Gluware system.

    Gluware 4.0 is now generally available in Gluware Pro and Enterprise offerings. To learn more, click here.

    Customer and Partner Quotes

    “Gluware gives us a single pane of glass to manage our entire network as a single entity, changing the way we do business. The platform enabled us to standardize our configs, manage OS upgrades across our suite of Juniper products, and to detect change in the network – all improving security and compliance while increasing agility and reducing operational cost,” said
    Mike Pazarena, Network Engineer, Network Services Group, First Bank.

    “Gluware’s new 4.0 release is ideal for organizations that want to painlessly and rapidly adopt automation. It adds the ability for smaller organizations to adopt Gluware’s intelligent automation without the need to install and maintain the full-blown Gluware instance. The new Gluware Pro offering can support up to 2,000 network devices and introduces a secure cloud-based control system that organizations can use without having to maintain another network management tool. Organizations with more than 2,000 devices also have the benefit of the same 4.0 updates in Gluware Enterprise,” said Terry Slattery, Principal Architect, NetCraftsman.

    About Gluware

    In today’s world, it is a strategic imperative for global enterprise IT to prevent critical outages, enhance network security, and keep up with ever-changing business requirements through increased network agility. As the leader in Intelligent Network Automation, Gluware adds a powerful layer of intelligence to any existing or new enterprise network, with code-free apps that automate and orchestrate mission-critical network tasks at scale. Gluware’s patented Intent-Based Networking (IBN) technology is automating the networks of the world’s largest and most complex enterprises across a complex tapestry of vendors, technologies, infrastructure and standards, helping to keep them “always on” while reducing the risk of human-induced errors or planning omissions. The Gluware Application Suite dramatically reduces an organization’s time to value and is deployed in the networks of Global 2000 enterprises including leaders across industries from Pharma to Finance.

  • SingleStore Announces $80 Million Series E Investment, Global Strategic Relationship with Analytics Leader SAS

    New Funding Will Provide Database Innovator With Access to More Than $140 Million in Capital

    SAN FRANCISCO – DECEMBER 8, 2020 – SingleStore, The Database of NowTM, today announced $80 million in new funding and a partnership with advanced analytics leader SAS. Insight Partners led the Series E round,  with participation from new financial investor Dell Technologies Capital and equity participation from Hercules Capital. Existing investors Accel, Anchorage, Glynn Capital, GV and Rev IV also participated.

    This round, which brings SingleStore’s total funding to $238 million, means the company has more than $140 million in cash to increase its domestic and international sales capacity; expand its engineering team; increase its market prominence by further extending its partnerships; and grow its customer base to enable a game-changing 2021 for SingleStore and its customers.

    “We received enormous interest in SingleStore from leading investors and we chose to work with Insight Partners for our next phase of hyper growth. It is exciting to partner with an investor of their caliber which has so much to offer to spur our future growth. This partnership is a validation that a changing of the guard in the database market is afoot,” said SingleStore CEO Raj Verma. “The challenges of today require a technology built to address the need for real-time insights at unprecedented speed and across hybrid, multi-cloud environments. Our partnership with SAS, the custodian of the most sought after and complex data workloads in the world, is validation of this market movement. I could not be more excited to partner with a company I’ve always greatly admired for both its software and culture. It is an honor and a privilege.”

    Founded in 2011, SingleStore’s technology provides data solutions to leading companies across the world with more than 1,000 organizations using it to better their data strategy. SingleStore has more than 250 employees with offices in five countries, and more than 10 strategic global VAR partners. The company strives to accelerate innovation in its endeavor to fundamentally change the siloed world of data by enabling companies to have a more holistic view of their data, while preserving the familiarity and ease of integration of SQL. Its proprietary, simplified, data-agnostic approach uniquely provides one platform for all data, built so that organizations of all types can act with informed insights to make business-critical decisions fast.

    “As industry after industry reinvents itself using software, there will be accelerating market demand for predictive applications that can only be powered by fast, scalable, cloud-native database systems like SingleStore’s,” said Lonne Jaffe, managing director at Insight Partners. “Insight Partners has spent the past 25 years helping transformational software companies rapidly scale-up, and we’re looking forward to working with Raj and his management team as they bring SingleStore’s highly differentiated technology to customers and partners across the world.”

    “Across industries, SAS is running some of the most demanding and sophisticated machine learning workloads in the world to help organizations make the best decisions. SAS continues to innovate in AI and advanced analytics, and we partner with companies like SingleStore that share our curiosity about how data and analytics can help organizations reimagine their businesses and change the world,” said Oliver Schabenberger, COO and CTO at SAS. “Our engineering teams are integrating SingleStore’s scalable SQL-based database platform with the massively parallel analytics engine SAS Viya. We are excited to work with SingleStore to improve performance, reduce cost, and enable our customers to be at the forefront of analytics and decisioning.”

     

    About Insight Partners

    Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.

     

    About Dell Technologies Capital

    Dell Technologies Capital is the global venture capital investment arm of Dell Technologies. The investment team backs passionate early stage founders who push the envelope on technology innovation for enterprises. Since inception in 2012, the team has sustained an investment pace of $150 million a year and has invested in more than 112 startups, 51 of which have been acquired and 6 have gone public. Portfolio companies also gain unique access to the go-to-market capabilities of Dell Technologies (Dell, Dell EMC, VMWare, Pivotal, Secureworks). Notable investments include Arista Networks, Cylance, Docusign, Graphcore, JFrog, MongoDB, Netskope, Nutanix, RedisLabs, and Zscaler. For more information visit www.delltechnologiescapital.com.

     

    About SingleStore

    SingleStore is dedicated to helping businesses adapt more quickly, embrace diverse data and accelerate digital innovation by operationalizing all data through one platform for all of their moments that matter. These capabilities are provided as a service in AWS, Azure and GCP and through your own deployments with SingleStore Managed Service and SingleStore DB. Visit singlestore.com or follow us @SingleStoreDB.

     

  • Adapdix secures $8M Series A funding to accelerate growth of AI-powered automation and control software

    Pleasanton, CA – December 8, 2020 – Adapdix Corporation, the digital transformation leader in Edge AI automation and control software, today announced the completion of an $8M Series A funding round, led by WRVI Capital, with participation from Micron Ventures and existing investor X2 Equity.

    As the first predictive analytics solution based on an industrial-grade data mesh technology, Adapdix enables ultra-low-latency, predictive maintenance and control. This means that companies can now take the next steps in the Edge AI performance journey, from simply detecting and preventing faults to enabling control and automating self-correcting actions.

    Anthony Hill, Founder and CEO at Adapdix, said, “Enterprise companies are increasingly moving processing power closer to the source of the data to increase model accuracy, reduce network cost and congestion, and latency. The Adapdix EdgeOps™ solution is addressing a significant and growing market need to extract value and control systems at the edge. This investment round will solidify Adapdix’s leadership position in the market and enable more enterprise companies to control their end-to-end operations – and ensure uptime – with real-time predictive analytics.”

    Adapdix’s EdgeOps™ is a software-only solution that combines advanced artificial intelligence and machine learning (AI/ML) analytics with a distributed, edge-based control platform. By enabling control where the AI data is, the edge, Adapdix enables a distributed data mesh ecosystem that delivers the new foundation for customer-centric Edge AI deployments.

    Nicholas Brathwaite, Founding Managing Partner at WRVI Capital, said, “Adapdix EdgeOps™ innovative technology provides a scalable multivariable platform allowing enterprises to operationalize AI/ML across critical infrastructure, improving significant uptime and business profitability as it has not been possible before.”

    “Artificial intelligence will transform how enterprises automate and optimize processes in the workplace,” said Andrew Byrnes, director of venture capital at Micron Ventures. “Adapdix has an innovative platform with powerful capabilities to generate data insights that quickly and effectively unlock new levels of productivity and streamlined processes.”

    Adapdix’s EdgeOps™ will initially focus on manufacturing customers in the semiconductor, electronics, and automotive industries, with more sectors to follow.

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    About Adapdix

    Adapdix provides an innovative software platform for enterprises that optimizes Artificial Intelligence (AI) and Machine Learning (ML) at the edge. The company’s customer-centric Adapdix EdgeOps™ platform provides previously unmatched performance increases in uptime of equipment, reduction in supply chain and logistics cost and increases in remote worker control and productivity. Founded in 2015, Adapdix is headquartered in Pleasanton, California – see www.adapdix.com.

  • Tecton Releases Cloud-Native Enterprise Feature Store for Machine Learning, Raises $35 Million Series B Co-Led by Andreessen Horowitz and Sequoia

    Tecton Advances the Feature Store Category to Bring DevOps to Machine Learning (ML) Data

    SAN FRANCISCO, Dec. 07, 2020 (GLOBE NEWSWIRE) — Tecton, the enterprise feature store company, today announced the general availability of its production-ready enterprise feature store that is delivered as a fully-managed cloud service. Tecton, which emerged from stealth in April this year, already has paying customers from some of the fastest growing startups to the Fortune 50.

    “We use ML applications to support a variety of use cases in Credit Decisioning, Cash Flow Insights, Fraud Detection and Business Admin. Tecton helps us create more accurate features that combine batch data from Snowflake and streaming data from Apache Kafka. With Tecton, we can reuse features across all of these domains and thus reduce by weeks the time it takes to build and deploy streaming features to production,” said Hendrik Brakmann, Director of Data Science and Analytics at Tide, a startup that provides a smart business current account to more than 270,000 business owners.

    “We operate ML-driven applications to power new and improved customer experiences in our products, including Jira and Confluence. Tecton is now deployed in production as a core component of our stack for operationalizing ML. Tecton has allowed us to improve more than 200,000 customer experiences per day and accelerate the time to build and deploy new features from months to less than a day,” said Gilmar Souza, Engineering Manager, Search & Smarts at Atlassian, a global software company that helps teams unleash their potential.

    Feature stores are emerging as a critical component of the infrastructure stack for ML. They solve the hardest part of operationalizing ML: building and serving ML data to production. They allow data scientists to build more accurate ML features and deploy these features to production within hours instead of months.

    “Based on our experience building Uber Michelangelo, we know that feature stores are an essential part of the complete stack for operational ML,” said Mike Del Balso, co-founder and CEO of Tecton. “We built Tecton to provide the most advanced feature store in the industry and make it accessible to every organization as a cloud-native service.”

    Tecton provides the only cloud-native feature store that manages the complete lifecycle of ML features. It allows ML teams to build features that combine batch, streaming and real-time data. Tecton orchestrates feature transformations to continuously transform new data into fresh feature values. Features can be served instantly for training and online inference, with monitoring of operational metrics. Teams can search and discover existing features to maximize re-use across models.

    Tecton Raises $35 Million
    Today Tecton also announced $35 million in Series B funding co-led by Andreessen Horowitz and Sequoia, bringing the total raised to $60 million. The funding will be used to accelerate product innovation and go-to-market activities.

    Martin Casado, general partner at Andreessen Horowitz and Tecton board member, said: “We are generating data at higher volumes and with greater velocity than ever before. ML will drive a new wave of software innovation by allowing companies to harness their data to power new customer experiences and automate business processes. Scaling ML in the enterprise requires new tooling to turn analytics data into operational signals, and the Tecton team is uniquely positioned to solve this problem with their deep expertise in ML infrastructure.”

    Matt Miller, partner at Sequoia and Tecton board member, said: “Ten years from now, every enterprise system will be automated and driven by machine learning. The core technology that will make this possible is the feature store that Tecton provides. Tecton is the key enabler of operational machine learning and is solving one of the most interesting challenges in enterprise technology. The team has made tremendous progress since the seed, and we are thrilled to triple down on our partnership.”

    About Tecton
    Tecton’s mission is to make world-class ML accessible to every company. Tecton enables data scientists to turn raw data into production-ready features, the predictive signals that feed ML models. The founders created the Uber Michelangelo ML platform, and the team has extensive experience building data systems for industry leaders like Google, Facebook, Airbnb and Uber. Tecton is backed by Andreessen Horowitz and Sequoia. The company is headquartered in San Francisco with an office in New York. For more information, visit https://www.tecton.ai or follow @tectonAI.

  • Sumo Logic Announces Third Quarter Fiscal 2021 Financial Results

    Third quarter revenue grew 28% year-over-year to $51.9 million
    Raised $342.7 million through initial public offering

    REDWOOD CITY, Calif., Dec. 07, 2020 (GLOBE NEWSWIRE) — Sumo Logic (Nasdaq: SUMO), a pioneer of continuous intelligence, today announced financial results for the third quarter of its fiscal 2021, ended October 31, 2020.

    “We delivered strong results in our first quarter as a public company as customers continue to choose Sumo Logic’s Continuous Intelligence Platform™ to transform the tsunami of data generated from digital transformation into actionable insights,” said Ramin Sayar, president and CEO of Sumo Logic. “Sumo Logic is the pioneer of continuous intelligence, enabling organizations to accelerate their shift to cloud computing and modern application architectures. With new use cases continuing to emerge across operational intelligence, security intelligence and business intelligence, we see a long horizon of growth ahead of us.”

    Third Quarter Fiscal 2021 Financial Highlights

    • Revenue was $51.9 million, an increase of 28% year-over-year
    • Revenue, excluding our largest revenue customer, was $48.1 million, an increase of 28% year-over-year
    • GAAP gross margin was 74%; non-GAAP gross margin was 77%
    • GAAP operating loss was $22.9 million; GAAP operating margin was (44)%
    • Non-GAAP operating loss was $2.2 million; non-GAAP operating margin was (4)%
    • GAAP net loss was $23.9 million or $0.43 per share
    • Non-GAAP net loss was $3.3 million or $0.06 per share
    • Net cash used by operating activities was $18.3 million; free cash flow was $(18.7) million
    • Cash and cash equivalents was $407.5 million as of October 31, 2020

    Recent Highlights

    Business Highlights:

    • Completed our initial public offering of 17.0 million shares at $22 per share, for total net proceeds of $342.7 million.
    • Released our 5th Annual Continuous Intelligence Report highlighting increased multi-cloud adoption and the heightened requirements of cloud architectures and security.
    • Hosted Sumo Logic’s 4th annual Illuminate user conference in October. The annual user conference was held virtually on October 6th and 7th and brought together customers, partners and employees for two days of education, certification and expert advice to get the most value out of the Sumo Logic Continuous Intelligence Platform™.
    • Announced the appointment of Tracey Newell to our Board of Directors.

    Product Highlights:
    Sumo Logic Observability Solution enhancements:

    • Announced general availability of AWS Observability Solution which automatically ingests, collects, unifies and analyzes telemetry data from popular AWS services.
    • Announced the general availability of the Sumo Logic Software Development Optimization (SDO) solution which integrates and analyzes data from multiple DevOps tools to give developers real-time insights into software development pipelines.
    • Announced new distributed tracing capabilities added to its existing Microservices Observability Solution. The new capabilities unify application and infrastructure logs, metrics, traces and metadata and enable sophisticated analytics on both structured and unstructured data.

    Sumo Logic Security Intelligence Suite enhancements:

    • Announced a new integration with AWS Network Firewall, a new managed service that makes it easy to deploy essential network protections for all Amazon Virtual Private Clouds (Amazon VPCs) on Amazon Web Services (AWS).
    • Announced SecOps Team Reporting with pre-built dashboards that enable SecOps teams to get real-time views around data ingestion, usage, and SecOps metrics.
    • Announced detection improvements including new chain, threshold and aggregation rule types that further improve automated threat detection capabilities helping cloud SIEM customers with their specific use cases.

    Financial Outlook

    For the fourth quarter of fiscal 2021, Sumo Logic expects:

    • Total revenue between $51.8 million and $52.3 million, representing 17% to 18% growth year over year
    • Revenue, excluding our largest revenue customer, between $49.3 million and $49.8 million, representing 23% to 24% growth year-over-year
    • Non-GAAP operating loss of $11.4 million to $10.9 million, non-GAAP operating margin of (22)% to (21)%
    • Non-GAAP net loss per share of $0.13 to $0.12 on approximately 101.5 million weighted average shares outstanding

    For the full fiscal year 2021, Sumo Logic expects:

    • Total revenue between $200.3 million and $200.8 million, representing 29% to 30% growth year over year
    • Revenue, excluding our largest revenue customer, between $185.9 million and $186.4 million, representing 29% growth year-over-year
    • Non-GAAP operating loss of $35.6 million to $35.1 million, non-GAAP operating margin of (18)% to (17)%
    • Non-GAAP net loss per share of $0.79 to $0.78 on approximately 49.0 million weighted average shares outstanding

    These statements are forward-looking and actual results may differ materially. Please refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.

    Guidance for non-GAAP financial measures excludes stock-based compensation expense and amortization of acquired intangible assets. We have not provided the most directly comparable GAAP measures because certain items are out of our control or cannot be reasonably predicted. Accordingly, a reconciliation for forward-looking non-GAAP operating loss and non-GAAP net loss per share is not available without unreasonable effort. Refer to Non-GAAP Financial Measures below.

    Conference Call Details

    The company will host a conference call and live webcast on Monday, December 7, 2020, at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). The news release with the financial results will be accessible on Sumo Logic’s investor relations website at investor.sumologic.com prior to the conference call. To access the conference call, dial (877) 407-0784 from the United States or (201) 689-8560 internationally and reference the company name and conference title. Following the completion of the call, a replay will be available for approximately two weeks. The replay can be accessed by dialing (844) 512-2921 from the United States or (412) 317-6671 internationally and using the recording passcode 13713250. A live webcast and replay of the conference call can also be accessed from the Sumo Logic Investor Relations website at investor.sumologic.com.

    Supplemental Financial and Other Information

    Supplemental financial and other information can be accessed through Sumo Logic’s investor relations website at investor.sumologic.com. Sumo Logic uses the investor relations section on its website as the means of complying with its disclosure obligations under Regulation FD. Accordingly, we recommend that investors should monitor Sumo Logic’s investor relations website in addition to following Sumo Logic’s press releases, SEC filings and social media.

    Non-GAAP Financial Measures

    In addition to our financial information presented in accordance with GAAP, we believe the following non-GAAP financial measures are useful in evaluating our operating performance. We use the following non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, may be helpful to investors because they provide consistency and comparability with past financial performance and meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations, or outlook. The non-GAAP financial measures are presented for supplemental informational purposes only, have limitations as analytical tools, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP and may be different from similarly-titled non-GAAP financial measures used by other companies. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business, which it includes in press releases announcing quarterly financial results, including this press release.

    Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP loss from operations, non-GAAP operating margin, non-GAAP net loss and non-GAAP net loss per share: We define these non-GAAP financial measures as their respective GAAP measures, excluding expenses related to stock-based compensation expense, amortization of acquired intangibles, and acquisition-related expenses. We use these non-GAAP financial measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance.

    Free cash flows: We define free cash flow as cash used in operating activities less purchases of property and equipment and capitalized internal-use software costs. We believe free cash flow is a useful indicator of liquidity that provides our management, board of directors, and investors with information about our future ability to generate or use cash to enhance the strength of our balance sheet and further invest in our business and pursue potential strategic initiatives.

    Please see the reconciliation tables at the end of this release for the reconciliation of GAAP and non-GAAP results.

    Forward-Looking Statements

    This press release contains express and implied forward-looking statements including but not limited to, statements regarding our GAAP and non-GAAP guidance for the third fiscal quarter and full fiscal 2021 and financial outlook and market positioning, our business plans, initiatives and objectives, our ability to execute such plans, initiatives and objectives in a timely manner, the benefits and capabilities of our platform, and our plans and expectations regarding new platform features and functionality that are under development or in process. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to our ability to achieve and maintain future profitability, our ability to attract new customers and retain and sell additional functionality and services to our existing customers, our ability to sustain and manage our growth, our ability to successfully add new features and functionality to our platform, our ability to compete effectively in an increasingly competitive market, and general market, political, economic, and business conditions, including the impact of COVID-19, and other risks detailed in our prospectus filed with the Securities and Exchange Commission (SEC) pursuant to Rule 424(b)(4), dated September 17, 2020, and other filings and reports that we may file from time to time with the SEC. Additional information will be made available in our Form 10-Q for the quarter ended October 31, 2020 that will be filed with the SEC, which should be read in conjunction with this press release and the financial results included herein.

    Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent our views as of the date of this press release. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. We anticipate that subsequent events and developments could cause our views to change. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    About Sumo Logic

    Sumo Logic, Inc. (Nasdaq: SUMO), is the pioneer in continuous intelligence, a new category of software, which enables organizations of all sizes to address the data challenges and opportunities presented by digital transformation, modern applications, and cloud computing. The Sumo Logic Continuous Intelligence Platform™ automates the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights within seconds. More than 2,100 customers around the world rely on Sumo Logic to build, run, and secure their modern applications and cloud infrastructures. Only Sumo Logic delivers its platform as a true, multi-tenant SaaS architecture, across multiple use-cases, enabling businesses to thrive in the Intelligence Economy. For more information, visit www.sumologic.com.

  • AppSmart Acquires MicroCorp

    Acquisition scales expansion and best-in-class advisor experience

    SAN FRANCISCO –  Dec. 7, 2020 – AppSmart®, the leading source to find, buy, and manage all business technology services, announced today that it acquired MicroCorp, a leading national master agent for telecommunications, data center, security and cloud services, as part of its commitment to strategic expansion.

    Headquartered in Atlanta, MicroCorp represents a large national partner network, differentiated by its Ultimate Partner Experience – a unique blend of people and tools built on an innovative proprietary technology platform that provides self-service access to data and content from anywhere and at any time. MicroCorp’s financial strength and commitment to solid provider contracts has made it a safe and dependable master agent that protects its partners’ recurring commission streams.

    Effective immediately, MicroCorp becomes an AppSmart company. In joining AppSmart, MicroCorp brings over 30 years of experience, financial strength and commitment to  enhancing the advisor experience with best-of-breed technologies. With AppSmart’s unique provider portfolio and focus on providing the best advisor experience through automated tools, and MicroCorp’s proprietary technology platform, the acquisition strengthens  AppSmart as one of the largest telecommunications Master Agents in the United States.

    “Bringing MicroCorp into the AppSmart family is a testament to AppSmart’s innovation and commitment to delivering a differentiated experience for technology advisors,” said Renee Bergeron, Senior Vice President & General Manager, AppSmart. “The longevity and breadth of experience in the MicroCorp team is unparalleled and together our teams will drive a premier experience for advisors.”

    “For over three decades, we’ve been a trusted resource for our partners’ business transformation through the power of recurring revenue streams,” said Karin Fields, CEO, MicroCorp. “We strongly align with AppSmart’s technology-driven vision and advisor-first culture and are delighted to join the AppSmart family in working to improve and automate experiences for advisors.”

    Microcorp is the latest acquisition to be integrated with AppSmart, joining  CNSG, Telegration and World Telecom Group (WTG). By combining the digital transformation expertise of top channel leaders with best-in-class technology that’s purpose-built for advisors and with the most diverse catalog of solutions, AppSmart is giving customers Smart Access for every business technology need, including cloud, connectivity, IoT (mobility/energy), services and support.

    About AppSmart

    AppSmart is the #1 marketplace in the world to find, buy and manage all business technology services including connectivity, wireless/mobility, software, infrastructure, energy, managed services, and devices. Thousands of organizations of all sizes and in all sectors, including retail, healthcare, hospitality, manufacturing, banking, education and more, trust AppSmart and our network of Technology Advisors to help them make smarter technology decisions. AppSmart sells services exclusively through our vast network of vendor-agnostic AppSmart Technology Advisors.

  • Rookout’s Modern Debugging Platform Brings Server Performance Metrics to Developers

    SAN FRANCISCO, Dec. 07, 2020 (GLOBE NEWSWIRE) — Rookout, the modern debugging platform, today announced it will bring server performance metrics directly into the debugging workflow for the first time. Traditionally, telemetry related to CPU spikes, memory leaks, and disks filling up were prioritized solely by IT Operations teams using traditional monitoring and APM tools. However, with the shift-left DevOps movement, it’s critical that software developers understand how their code is impacting production and that they care about metrics such as uptime.

    “Over the past decade software developers have become more and more invested in the server metrics underneath their code,” said Liran Haimovitch, CTO and co-founder of Rookout. “Traditional debugging is painful enough — let alone having to context switch between your debugger and an APM tool. This is why we’ve decided to bring relevant server health metrics directly into the debugging workflow, so developers can see their application code alongside infrastructure health, in one place, to understand the full picture.”

    The idea for a more seamless debugging workflow came back in February, at the AppDynamics global event Transform 2020. It was there that Rookout announced a formal integration with AppDynamics called Deep Code Insights, which allowed IT Operations teams to notice a performance issue, such as a CPU spike or memory leak, and then leverage Rookout’s technology to click directly into the application code, in order to pinpoint and diagnose the root cause.

    Today, that workflow can be inverted for organizations interested in shifting left, due to Rookout’s native ability to surface performance metrics inside the tool where the developer already lives. “We want to make it easier for developers to understand their software,” said Shahar Fogel, CEO of Rookout. “This will drastically improve enterprise velocity and agility, as it becomes much simpler to correlate code innovation to its impact on performance.”

    According to the analyst firm Digital Enterprise Journal, 61% of organizations report the “time spent trying to identify the root cause” and the “lack of actionable context from monitoring data” as key challenges for ensuring optimal performance in production. “Rookout created a developer-centric software which short-circuits complexities in production debugging, increases developer efficiency, and reduces the friction which exists between IT Ops and developers,” said Rob Salvagno, VP of Cisco Global Corporate Development and Cisco Investments.

    About Rookout
    Rookout is a live debugging solution that provides an unparalleled ability to collect any piece of data, from the deepest levels of live code, on-demand. This empowers engineers to find the data they need instantly and deliver it anywhere, in order to understand and advance their software. With Rookout, software teams save hours of work and reduce debugging and logging time by 80% — with zero friction, overhead, or risk. Head to www.rookout.com for more.

  • Founded by Chaos Engineering Pioneer, Jeli.io Launches First Incident Analysis Platform With $4 Million in Funding

    Jeli Uses Incidents as a Catalyst for Understanding Pain Points in Organizations so They Can Improve the Collaboration and Communication Between Engineering and Business Units

    SAN FRANCISCO, Dec. 07, 2020 (GLOBE NEWSWIRE) — Today at SREcon20 Americas, Jeli.io formally launched and unveiled the first incident analysis platform. The platform uses incidents as a catalyst for understanding how their company is doing so they can stay focused on what really matters and improve response, prevention and long-term reliability. The product is in private beta with brand name companies like Indeed, the world’s number one job site.

    Indeed Head of SRE Jason Koppe said: “Jeli is our new secret sauce for learning from incidents and increasing trust, collaboration, initiative, creativity, on-the-job training and effectiveness in eliciting insightful information from others. Jeli’s unique approach is unmatched, and we’re making everything better about the way we work together, grow together and succeed together. I’m ecstatic to partner with Jeli.”

    Today most companies look for how much their incidents cost from customer revenue loss. However, the wildly overlooked area is the hidden coordination costs within teams which can cost hundreds of hours of engineering time without delivering a better customer experience ultimately repeating the same broken processes. Companies find that they are increasingly having the same incidents, not getting their action items completed and driving a wedge between engineering and business units.

    Jeli highlights incident coordination costs, uncovers organizational issues and generates recommendations to help companies address these issues before they become irreparable. Jeli coalesces disparate systems involved in incidents and directs users’ attention to areas that are costing companies the most during incidents so that users can not only improve the collaboration and process aspects of incident response but improve on-call rotations and strengthen the capability of getting your action items complete.

    “Jeli gives companies the visibility and critical focus to ensure their chaos engineering and incident response practices continue to optimize. Their action items actually get followed through on because they are useful, all while safeguarding companies from making the same mistakes twice,” said Nora Jones, founder and CEO of Jeli.io. She has held senior technical leadership roles at Netflix, Slack, Jet.com and Alarm.com. She pioneered chaos engineering in 2017, created and founded the https://www.learningfromincidents.io movement and co-authored two O’Reilly books on chaos engineering.

    With Jeli, companies no longer have to painstakingly go through every detail of every incident. Jeli proactively does it for them in a way that makes them faster and enhances the quality of the output. Through Jeli’s incident analysis and timeline, organizations can start their postmortems with shoulders to stand on, rather than starting from scratch and missing opportunities to improve. Jeli enables users to slice and dice their incidents in a way that shows how responders can better coordinate.

    Today Jeli.io also announced $4 million in seed funding led by Boldstart Ventures with participation from Harrison Metal and Heavybit.

    “Jeli’s incident analysis platform provides a whole new view into ‘what happened’ that unlocks not only a faster response but a clear path to improving software to generate a ‘return on incidents’. There’s no other product on the market that does this. We are thrilled to be partnered with the team at Jeli and lead their series seed,” said Eliot Durbin, General Partner at Boldstart Ventures.

    About Jeli.io
    Jeli.io is an incident analysis platform company that allows users to not only address incidents but learn everything they can from them. Jeli aggregates systemic incident data such as on-calls and incident response transcripts combined with team and responder information to find clear, actionable recommendations and insights to reveal organizational issues and continuously improve. For more information, go to https://www.jeli.io or follow @Jeli_io.