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Tag: 📄Company Profiles

  • Acorns: Revolutionizing the Way People Invest and Save

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Governments across the world are supporting the use of fintech for increasing financial inclusion and elevating efficiency via real-time payments and open applications programming interfaces and blockchains. Leveraging the fintech industry, the government can create a digital economy that further leads to market growth.

    Acorns is the first company in the fintech industry to offer micro-investments and robo advice to the world. Read further to access detailed information about Acorns- from founders and startup story to the business model, investors, growth, and funding.

    Acorns – Company Highlights

    Company Name Acorns
    Headquarters Irvine, California, United States
    Primary Industry Fintech
    Founders Jason Martell, Jeff Cruttenden, Walter Cruttenden, and Mark Dru
    Founded In 2012
    Revenue $180.4M (2022)
    Website www.acorns.com

    Acorns – About
    Acorns – Industry
    Acorns – Founders and Team
    Acorns – Startup Story
    Acorns – Mission and Vision
    Acorns – Business Model
    Acorns – Products and Services
    Acorns – Challenges Faced
    Acorns – Funding and Investors
    Acorns – Mergers and Acquisitions
    Acorns – Patents and Trademarks
    Acorns – Partners
    Acorns – Growth
    Acorns – Competitors

    Acorns – About

    Founded in 2012, Acorns is a finance company that provides micro-investing services through its web and mobile applications. It basically allows its customers to round up purchases and invest the change automatically into a diversified portfolio. Moreover, the company also offers multiple solutions, including banking, personal investing, investing for kids, and investing for retirement.

    The company is thriving under the leadership of Noah Kerner (CEO) and David Hijirida (President).

    Acorns – Industry

    Acorns is a fintech company that has revolutionized the concept of micro-investing worldwide. Fintech is the term used to refer to financial technology that enhances or automates financial services and processes.

    Talking about the global fintech market, it has attained a value of over $194.1 billion in 2022 and is expected to reach more than $492.81 billion by 2028, with a CAGR of 16.8% during 2023-2028.

    It is because of the increased penetration of the internet, use of smartphones, and adoption of cashless currency and the Covid-19 pandemic that accelerated the adoption of digital technology in the financial sector.

    Visa, Mastercard, PayPal, Tencent, Stripe, and Ant Financial are a few leading companies in the fintech industry.

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    Acorns – Founders and Team

    Acorns was founded by four seasonal entrepreneurs named Jason Martell, Jeff Cruttenden, Walter Cruttenden, and Mark Dru. The team was later on joined by Noah Kerner.

    Jeffrey James Cruttenden

    Jeff Cruttenden - Co-founder of Acorns
    Jeff Cruttenden – Co-founder of Acorns

    Jeffrey James Cruttenden is the founder of Acorns and graduated from Lewis & Clark College with a degree in Bachelor of Arts, in Mathematics. In addition to this, he is currently a Partner at Cruttenden Partners and Co-founder at Say.

    Walter Cruttenden

    Walter Cruttenden - Co-founder of Acorns
    Walter Cruttenden – Co-founder of Acorns

    Working as a Founder at Acorns, Walter Wemple Cruttenden III has held the role of CEO at Blast. Presently, he is also working as a President at Cruttenden Partners and Executive Director at Binary Research Institute.

    Jason Martell

    Jason Martell - Co-founder of Acorns
    Jason Martell – Co-founder of Acorns

    Jason Martell is an entrepreneur known for co-founding many companies. His expertise lies in the field of UX design, UI, mobile, creative, and interactive technologies.  Jason Martell currently serves as a product designer for Meta. He also served as the co-founder of Blast and Acorns.

    Mark Dru

    Mark Dru - Co-founder of Acorns
    Mark Dru – Co-founder of Acorns

    Mark Dru is another name in the founder’s list of Acorns. Apart from Acorns, he is also the co-founder of Blast and has worked as Chief Revenue Officer at Triller in past. At Acorns, along with being a co-founder, he has served as a CFO for time period of  3 years (2012-2015).

    Noah Kerner

    Noah Kerner - CEO and Chairman at Acorns
    Noah Kerner – CEO and Chairman at Acorns

    Noah Kerner is another powerful name in the team of Acorns. He serves the Acorns as CEO and Chairman from 2014 to the present. Apart from this, he has also served as the co-founder and CEO of Noise. He is also present as a co-founder of SAY.

    When it comes to the company size, presently, it employs around 500 employees.

    Acorns – Startup Story

    The main idea behind founding Acorns was to promote incremental and passive investing. In 2014, it launched an app for both Android and iOS devices, and portfolio options were designed in partnership with Harry Markowitz – a Nobel-winning advisor.

    Moreover, the platform has expanded by including checking account services and retirement IRA products. In 2018, a behavioral economist- Shlomo Benartzi was appointed Chair of the Behavioral Economics Committee to work on the initiative of Money Lab conducting field experiments to know stats about consumer spending.

    Acorns – Mission and Vision

    Acorns Mission
    Acorns Mission

    The company’s main aim is to look after the financial best interests of the up-and-coming, beginning with the empowering, proud step of micro-investing. It is working on increasing the accessibility to several investment options that were previously available for purchase only with a large sum of money.

    Acorns – Business Model

    The micro-investing platform earns money through membership fees. It basically allows members to save small sums of money and invest them to further save for retirement. The company also offers banking services to members at lower fees.

    The services are divided into three primary categories. The first category allows members to invest their spare change in ETFs (exchange-traded funds). The second category enables members to create and fund an IRA through the platform and the third category provides a debit card through companies like Visa Inc.

    The subscription is offered by the company for $1, $3, and $5 per month for packages including different services.

    Acorns – Products and Services

    Acorns Website
    Acorns Website

    Acorns is known to offer four main products and these are – investment management, investment portfolios, stock trading and stock portfolios. In addition, it has three main services- Acorns Core, Acorns Spend, and Acorns Later.

    Acorns – Challenges Faced

    Acorns failed to maintain proper customer records and thus, was censured and fined by Financial Industry Regulatory Authority in 2017. Furthermore, in 2021, the company planned to go public after merging with Pinoeer Merger Corporation – a blank-check company.

    However, this plan was canceled in 2022 due to market conditions. Moreover, no tax strategy and high fees on small balances are two major aspects where it falls short.

    Acorns – Funding and Investors

    Over 10 funding rounds, Acorns has been able to raise a total of $507 million. Furthermore, the company’s latest funding round – Series F Round was undertaken on March 9, 2022, in which it raised a total of $300 million.

    It is backed by 39 world-class investors, advisors, and board members, including 2 Nobel Prize-winning economists. Some of its main investors are PayPal, BlackRock, Bain Capital Ventures, DST Global, NBCUniversal, Comcast Ventures, Greycroft, Capital Group, Headline, and TPG.

    Date Round Number of Investors Money Raised Lead Investor
    March 9, 2022 Series F 11 $300 million TPG
    August 19, 2019 Venture Round 6 – –
    January 28, 2019 Series E 10 $105 million Comcast Ventures, NBCUniversal
    January 12, 2018 Venture Round 1 – The Rise Fund
    July 20, 2017 Series D 7 $35 million –
    April 21, 2016 Series D 8 $35 million PayPal Ventures
    February 15, 2015 Series C 8 $23 million Greycroft, Headline
    March 12, 2014 Series B 3 $6.2 million Jacobs Asset Management
    October 1, 2013 Series A 1 $2.5 million Steelpoint Capital Partners
    June 1, 2012 Pre Seed Round 1 $300K Cruttenden Partners

    Acorns – Mergers and Acquisitions

    Acorns have acquired 3 organizations and these are Vault, Harvest Platform, and Pillar.

    Acquired Company Name Date of Announcement Price
    Pillar April 7, 2021 –
    Harvest Platform March 12, 2021 –
    Vault November 7, 2021 –

    Acorns – Patents and Trademarks

    As per IPqwery, the intellectual property of the company currently has 20 registered patents, primarily in the category of ‘Computing’ and ‘calculating’. Furthermore, it has 28 registered trademarks categorized into the ‘Scientific and electric apparatus and instruments’ class.

    Acorns – Partners

    Presently, Acorns have a total of 26 partners in its portfolio. Some of the reputed names from the portfolio are Airbnb, ABC, Trust & Will, ZipRecruiter, BlackRock, Clarity Money, NBKC, and PayPal.

    Acorns – Growth

    As per Fortune’s Impact 20 list 2020, its customer count increased to 8.2 million. Additionally, it has over 4.6 million paid subscribers. With the company’s annual revenue is to be estimated at $84 million per year ($165,100 per employee) in 2022, Acorn’s current valuation stands at $2 billion. Moreover, its employee count increased by 25% last year.

    The company has over 24,000 monthly app downloads, with Acorns: Invest Spare Change, Acorns: Save & Invest, and Acorns Stickers as the most popular apps.

    Acorns – Competitors

    More and more companies are establishing businesses in the Fintech industry to provide high-quality financial services which increases competition to a great extent. Some main competitors of Acorns are:

    • Robinhood
    • Betterment
    • SoFi
    • Wealthfront
    • Chime
    • Vanguard
    • Stash

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    FAQs

    Who owns Acorns?

    Acorns is an American financial technology company founded by four entrepreneurs named Jason Martell, Jeff Cruttenden, Walter Cruttenden, and Mark Dru.

    Are Acorns safe to invest in?

    Yes, Acorns is a safe platform to invest in because it complies with all the federal law rules related to digital safeguarding and bank-level physical security.

    What is the best investing app for beginners?

    Some of the best investing apps for beginners are Robinhood, stockpile, Acorns, etc.

    Is Acorns a cryptocurrency?

    No, Acorns is not a cryptocurrency instead it is an American financial technology and financial services providing company.

  • Wells Fargo Success Story – The American Financial Services Giant

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    A financial system is very crucial for any country, as it regulates all monetary things. The financial services industry, without a doubt, is one of the biggest industries that exist today.

    If we look back at history, it was the Gramm-Leach-Bliley Act, which allowed various types of companies operating in the U.S. financial services industry at the time to merge, that was passed in the late 1990s, and it contributed to the term “financial services” becoming more common in the country.

    One such financial services company is Wells Fargo. It is an American multinational financial services company, that has its headquarters in San Francisco, California. The firm is also one of the “Big Four Banks” of the US, along with JPMorgan Chase, Bank of America, and Citigroup.

    In this article, you will learn about Wells Fargo, one of the most prominent financial institutions in the United States, its visionary founders, its innovative business model, notable investments, and much more.

    Wells Fargo – Company Highlights

    Company Name Wells Fargo & Company
    Headquarters San Francisco, California
    Sector Financial Services
    Founders Henry Wells, William George Fargo
    Founded 1852
    Revenue $73.8 billion (2022)
    Website wellsfargo.com

    Wells Fargo – About
    Wells Fargo – Industry
    Wells Fargo – Founders and Team
    Wells Fargo – Startup Story
    Wells Fargo – Mission and Vision
    Wells Fargo – Name, Tagline, and Logo
    Wells Fargo – Business Model
    Wells Fargo – Revenue Model
    Wells Fargo – Mergers and Acquisitions
    Wells Fargo – Investments
    Wells Fargo – Philanthropic and CSR Activities
    Wells Fargo – Awards and Achievements
    Wells Fargo – Competitors
    Wells Fargo – Future Plans

    Wells Fargo – About

    With nearly $1.9 trillion in assets, Wells Fargo & Company is a diversified, locally focused financial services provider.

    Established in 1852, the company offers banking, investment, and mortgage services as well as consumer and business financing through more than 7,300 locations, 12,000 ATMs, the internet (wellsfargo.com), and mobile banking. The company also has offices in more than 40 nations and territories to support its clients who conduct business in the global economy.

    Wells Fargo has various subsidiaries, including:

    • Wells Fargo Advisors
    • Wells Fargo Bank, N.A.
    • Wells Fargo Rail
    • Wells Fargo Securities
    • Wachovia
    • First Union
    • CoreStates Financial

    In 1998, the original Wells Fargo & Company and the Minneapolis-based Norwest Corporation merged to form the current Wells Fargo. Although Norwest appeared to have survived, the combined company adopted the more recognizable Wells Fargo name and relocated to Wells Fargo’s headquarters in San Francisco.

    Wells Fargo – Industry

    The global financial services industry was valued at nearly $23,328.73 billion in 2021. In addition, it is anticipated that the value of this industry will grow from $23,328.73 billion in 2021 to $33,313.50 billion in 2026 at a rate of 7.4%. It is then expected to grow at a CAGR of 6.3% to reach $45,149.00 billion in 2031.

    The sudden rise of digitization has led to the emergence of financial service software as well. Thus, there is also a demand for workforce optimization solutions to drive the growth of the financial service software market.

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    Wells Fargo – Founders and Team

    Wells Fargo & Company was established in 1852 by Henry Wells and William G. Fargo, who together with John Butterfield founded American Express, to offer banking services to California then.

    Henry Wells

    Henry Wells - Founder, Wells Fargo
    Henry Wells – Founder, Wells Fargo

    Henry Wells was born in Thetford, Vermont, in 1805. His father, Shipley Wells, was a Presbyterian minister at what is now the First Presbyterian Church of Seneca Falls, New York. His parents had moved to central New York State as part of the Yankee westward migration out of New England.

    Henry went to school in Fayette and worked on a farm when he was younger. He began working as an apprentice in 1822 for the Palmyra, New York-based tanners, and shoemakers Jessup & Palmer.

    Before starting in the express industry, Henry Wells worked as a freight agent. By transporting mail for less than the government rate, his companies, which were the forerunners of American Express and Wells Fargo, competed with the United States Postal Service. In the field of higher learning, Wells founded Wells College in Aurora, New York.

    Henry Wells passed away in Glasgow, Scotland, two days before his 73rd birthday.

    William George Fargo

    William George Fargo - Founder, Wells Fargo
    William George Fargo – Founder, Wells Fargo

    William G. Fargo was a pioneer American expressman who also served as Buffalo’s 27th mayor from 1862 to 1866, all of which occurred during the American Civil War. When Fargo was 13 years old, he stopped attending school and began delivering mail for his native New York village of Pompey. He started working as a freight agent for the Auburn and Syracuse Railroad in Auburn in 1841, acting as an express messenger between Albany and Buffalo. In 1852, he co-founded Wells Fargo & Company with his partner, Henry Wells.

    William G. Fargo passed away on August 3, 1881. He is the inspiration for Fargo Avenue in Buffalo, the Fargo Quadrangle at the University at Buffalo, and Fargo, North Dakota.

    Charles W. Scharf

    Charles W. Scharf - CEO and President, Wells Fargo
    Charles W. Scharf – CEO and President, Wells Fargo

    Charles W. Scharf is the CEO and President at Wells Fargo. He is also a member of the Board of Directors of Wells Fargo & Company. Prior to this, he held leadership positions at prominent organizations. Charles served as the CEO of the Bank of New York Mellon from 2017 to 2019 and was also the chairman of its board. He has also served as the CEO and director of Visa Inc. from 2012 to 2016.

    Charles has a B.A. from Johns Hopkins University and an MBA from New York University.

    Wells Fargo – Startup Story

    The two founders’ passion led them to establish Wells Fargo. It is documented that it was during the technological revolution when Henry Wells and William G. Fargo started their professional lives. An era when more interconnected communities and economies were made possible by trains, canals, and stagecoaches. As a result, there was an increase in demand for trustworthy locations to access money while traveling, as well as safe ways to send payments.

    Using this opportunity, both the founders established a network of offices from California to New York and all over the world, using their practical experience delivering money and valuables by steamboat, railroad, pony ride, and stagecoach. When the economy was changing rapidly, their network offered customers consistency and support. Through a network of agents, it also started offering fundamental financial services like money orders and fund transfers.

    By the end of the California Gold Rush (1855), the company was a leading express and banking company in the West, shipping large quantities of gold as well as supplies and mail. Wells Fargo had 6,000 locations connected to its network by 1910, and by 1918, the company had more than 10,000 communities nationwide.

    Customers wary of transacting with distant partners used Wells Fargo because they knew they could rely on their neighborhood Wells Fargo agent to represent them.

    During the 1980s and 1990s, Wells Fargo made a series of acquisitions and introduced many subsidiaries. In May 1995, Wells Fargo became the first significant US financial services company to offer Internet banking.

    Much has changed since the inception of Wells Fargo. Through the ages and every generation, the firm has kept up its tradition of assisting clients in moving forward by offering cutting-edge financial services.

    The firm even has a dedicated museum, the Wells Fargo Museum, in the same place where it first started its business in 1852, in San Francisco. It has all of its artifacts from the past and information on different people who have helped shape what Wells Fargo is today. One can visit the museum between 10 AM to 5 PM for free from Monday to Friday.

    Wells Fargo – Mission and Vision

    Wells Fargo always had the goal of serving their customers properly by being a reliable financial service provider to all their finance needs.

    The mission of Wells Fargo is, “helping customers succeed financially”

    Wells Fargo Logo
    Wells Fargo Logo

    Wells Fargo’s name comes from the two founders’ surnames; Henry Wells and William G. Fargo.

    The company goes by the tagline, “It all begins with you”.

    Wells Fargo – Business Model

    Wells Fargo offers a broad range of banking and financial products and services to corporates, governments, or institutions. The firm also provides a scope of banking, insurance, investment banking, mortgage banking, retail banking, brokerage, and consumer and commercial finance service through its subsidiaries.

    The business of Wells Fargo can be divided into three segments:

    Wealth & Investment Management

    Under this, the company offers a comprehensive range of personalized and dedicated wealth management, investment management, retirement strategies, and other services to high-net-worth families and individuals.

    Wholesale Banking

    Wholesale banking provides all the financial solutions to any business operating globally such as commercial banking, commercial real estate, business banking, government, and institutional banking, etc.

    Community Banking

    As the name suggests, community banking offers fully devoted and diversified financial products and services to consumers and medium-sized and small-sized businesses that include; student and small lending businesses, credit and debit cards, savings, etc.

    The company also has operations in several foreign countries, such as Canada, Latin America, Europe, Asia Pacific, and Africa, where it offers local relationship managers to businesses seeking assistance with their international operations. It has offices in Toronto, Hong Kong, London, Dubai, Singapore, and Tokyo. With more than 20,000 employees, back offices are located in India and the Philippines.

    To pinpoint the business strategy of Wells Fargo, it has given a platform to its customers where they can easily make use of its services.

    Customers can use Wells Fargo’s services either through an online banking service or its mobile app. They can use these services to move money, schedule recurring payments, manage account information, and apply for financial products without even speaking to anyone from the Wells Fargo staff.

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    Wells Fargo – Revenue Model

    Talking about the revenue model of Wells Fargo, the firm generates most of its money by offering a range of private banking and commercial banking services to consumers, with the majority of its income coming from the charging of fees and commissions.

    In 2022, the company’s revenue stood at $73.8 billion.

    Wells Fargo – Mergers and Acquisitions

    Wells Fargo has made several acquisitions to date. The details of some of the latest acquisitions are listed below:

    Date Acquiree Name Amount
    Apr 27, 2012 Merlin Securities —
    May 26, 2011 Castle Pines Capital —
    Sep 29, 1999 Ragen Mackenzie $240 million

    In addition, the firm has also merged with some companies.

    The banking and express divisions of Wells Fargo were split off in 1905, and the company’s bank merged with the Nevada National Bank to form the Wells Fargo Nevada National Bank.

    The Union Trust Company and Wells Fargo Nevada merged in 1923 to form the Wells Fargo Bank & Union Trust Company.

    The name Wells Fargo & Union Trust was shortened to Wells Fargo Bank in 1954. To create the Wells Fargo Bank American Trust Company, it merged with American Trust Company four years later. In 1962, it went back to being known as Wells Fargo Bank.

    Wells Fargo – Investments

    The details of Wells Fargo investments are as follows:

    Date Organization Name Funding Round Money Raised
    Mar 15, 2023 Leeward Renewable Energy, LLC (LRE) Debt Financing $185 million
    Feb 15, 2023 Dreamscape Debt Financing –
    Feb 9, 2023 Soil Health Institute Grant $300K
    Jan 18, 2023 Lightsource bp Debt Financing $267 million
    Jan 6, 2023 Realty Income Corporation Post-IPO-Debt $1 billion
    Nov 29, 2022 Greenwood Bank Series B $45 million
    Nov 16, 2022 HomeZada Grant $250K
    Nov 14, 2022 BB Energy Debt Financing $580 million
    Oct 25, 2022 Bilt Rewards Series B $150 million
    Oct 14, 2022 BWX Technologies Post-IPO-Debt $250 million

    The company has also made 16 diversity investments. Here are the most recent ones:

    Date Organization Name Funding Round Money Raised
    Feb 25, 2022 Miami Foundation Grant $20 million
    Nov 7, 2021 H2O.ai Series E $100 million
    Mar 25, 2021 Greenwood Bank Series A $40 million
    Oct 29, 2019 Accion Serving San Diego Grant $300k
    Aug 27, 2019 Wisconsin Women’s Business Initiative Corp(WWBIC ) Grant $500K
    Aug 20, 2019 H2O.ai Series D $72.5 million
    Jul 11, 2019 Fyde Seed Round $2 million
    Dec 12, 2018 AtScale Series D $50 million

    Wells Fargo – Philanthropic and CSR Activities

    Wells Fargo has also established itself when it comes to serving communities and societies through its CSR activities. It offers solutions such as diversity and inclusion, community giving, economic empowerment, environmental and social impact, and so on.

    The company announced a $1 million donation to the American Red Cross on March 2, 2022, to help refugees from the Russian invasion of Ukraine.

    Not only this but, the Wells Fargo Foundation made the announcement in April 2022 that it would donate $210 million to advance racial equity in homeownership. The Wealth Opportunities Restored through Homeownership (WORTH) grants, which will be given out with $60 million of the donation, will last until 2025. In order to help minority homeowners, an additional $150 million will be invested in lowering mortgage rates and lowering refinancing costs.

    Wells Fargo – Awards and Achievements

    • Wells Fargo was recognized as the Global Best in Service for US Dollar cash management for financial institutions by Euromoney magazine.
    • Wells Fargo was awarded as the Best Private Bank Globally for its philanthropy services by the Financial Times Group.
    • Greater Des Moines Partnership awarded Wells Fargo an Inclusion Award Winner 2021 for supporting diversity, equity, and inclusion.

    Wells Fargo – Competitors

    Here are the top competitors of Wells Fargo:

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    Wells Fargo – Future Plans

    Even after facing significant challenges and scrutiny in recent years, Wells Fargo is still one of the big four banks in the US. The company has maintained itself and shown potential growth over many years. Furthermore, the company has a strong franchise base with which it can become a leaner organization and continue to preserve its status in the market today. Overall, Wells Fargo’s future plans involve maintaining its position as a leading financial institution by making improvements and investments to drive growth.

    Wells Fargo – FAQs

    When was Wells Fargo founded?

    Wells Fargo was founded in 1852.

    Who started Wells Fargo?

    Wells Fargo & Company was established in 1852 by Henry Wells and William G. Fargo.

    Who is the CEO of Wells Fargo?

    Charles W. Scharf is the CEO of Wells Fargo.

    Where is Wells Fargo’s headquarters?

    Wells Fargo’s headquarters are in San Francisco, California.

  • Text Blaze Success Story – Boost Team’s Performance with Effective Communications at a Fraction of the Time

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Text Blaze.

    Founded in 2021 and based in New York, Text Blaze allows users to save programmable text snippets and insert them anywhere on the web using keyboard shortcuts.

    An Overview of Text Blaze:

    Market Segment: AI-Writing Tool

    Best For: Professional-based Content

    Plans & Pricing:

    Basic: Free- Pro – $2.99 per month
    Business: $6.99 per month
    Enterprise: Custom pricing

    Text Blaze easily reads and updates your team’s data from anywhere, creates smart spreadsheets, seamlessly pulls relevant information from your tables and types it anywhere, effortlessly updates your tables, and adds information as you type.

    Text Blaze – Vision and Mission
    Text Blaze – Market/Industry Details
    Text Blaze – The Idea and Starting up
    Text Blaze – The Product/Service
    Text Blaze – Founder/s + Team Details
    Text Blaze – Name, Tagline, and logo
    Text Blaze – Business Model and Revenue Model
    Text Blaze – Launching Company
    Text Blaze – Marketing Campaign
    Text Blaze – Challenges
    Text Blaze – Future Plans
    Text Blaze – Funding

    💡
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    Text Blaze – Vision and Mission

    Streamline work anywhere – Users create their own mini-productivity apps (slash commands) that work anywhere using a suite of closely integrated, easy-to-use tools.

    The mission of Text Blaze is to provide a user-friendly and efficient solution that enables users to automate text insertion and expand shortcuts with ease.

    Additionally, the company is committed to maintaining high standards of data privacy and security, ensuring that its users’ sensitive information is always protected.

    Text Blaze – Market/Industry Details

    Text Blaze’s target market includes professionals, educators, and students who use web browsers as a primary tool for work or study. The company aims to provide a cost-effective and user-friendly solution that meets the needs of its target market while also standing out in a crowded marketplace.

    Any employee that works in front of a computer and does repetitive tasks – Customer Support, Sales, Recruiting, Operations, Doctors, Teachers, Small Business owners, etc. In other words, anyone that uses any type or productivity software ($100bn market).

    These employees are constantly squeezed to push productivity and quality, and they want to be able to control their own work to minimize low-value work and to get ahead.

    Text Blaze – The Idea and Starting up

    The idea for Text Blaze originated from the personal experience of its co-founders, Dan (CEO) and Scott (CTO), who recognized the time-consuming and repetitive nature of typing commonly used phrases and text snippets. They identified a need for a tool that could automate these tasks and streamline workflows, which led to the development of Text Blaze in 2016.

    Scott and Dan had worked together at Google creating enterprise software for sales and support teams and saw firsthand the friction and low-value work created by the discrepancy between how productivity software is built and how users would like to work.

    Text Blaze’s goal was to empower these users to eliminate the low-value work and optimize their workflows.

    Scott left Google and started Text Blaze. Initially as a side project. Dan was advising while still working at Google, and a little later joined full-time. We then went through YC, raised a Seed round and built the team.

    Text Blaze – The Product/Service

    Text Blaze allows users to save smart text snippets and insert them anywhere on the web using keyboard shortcuts.

    Users start with plain text snippets that help them eliminate repetitive typing. Text Blaze intuitive, easy to start using and free forever. They start saving hours a week within seconds and they love it. We have a perfect 5-strat rating in the Chrome web store and reviews such as “where was this all my life?” and “this is amazing”.

    From there, Text Blaze takes users through a journey that allows them to gradually automate larger portions of their workflow by creating “smart” templates that work everywhere with placeholders (form fields), conditional business logic (if/then), formulas and even integrations with other apps to read and write data from/to these apps from anywhere.

    Snippets can be shared and teams use them to align on shared comms and allow the entire team to work smarter.

    Text Blaze – Founder/s + Team Details

    Text Blaze Co-founders
    Text Blaze Co-founders

    Scott Fortmann-Roe has a Phd in Environmental Science, Policy and Management from the University of California. Worked as a Engineering manager at Google before starting Text Blaze.

    Dan Barak has an MBA from the Wharton School. Worked as a Senior Product Manager at Google.

    The team is fully remote and global with members from India, Kazakhstan, Egypt, Malta, Dublin and the US.

    Text Blaze Logo
    Text Blaze Logo

    Text Blaze – Business Model and Revenue Model

    Text Blaze is a freemium PLG company. The basic product is free forever and has some feature limitations (but no usage limitations).

    Text Blaze Pricing
    Text Blaze Pricing

    The Pro plan is for individuals and costs $2.99 a month. The Business plan is for teams and Businesses and costs $6.99 a month per user.

    Text Blaze – Launching Company

    The first 100 users found Text Blaze on the Chrome Webstore. For a pretty long time, the CWS and word of mouth were the only acquisition channels.

    Text Blaze – Marketing Campaign

    Content marketing: Text Blaze regularly publishes blog posts and tutorials on its website to educate users about the features and benefits of its product. The company also uses social media platforms to share its content and engage with users.

    Referral program: Text Blaze offers a referral program that incentivizes users to invite their friends and colleagues to use the product. For each new user referred, both the referrer and the referee receive a discount on their Text Blaze subscription.

    Paid advertising: Text Blaze has used paid advertising on platforms such as Google Ads and Facebook to target users searching for productivity tools and related topics. The company has also experimented with influencer marketing to reach a wider audience.

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    Text Blaze – Challenges

    Like any company, Text Blaze faces a range of challenges as it grows and evolves. Some of the challenges that Text Blaze may face include:

    Competition: The market for productivity tools and browser extensions is highly competitive, and Text Blaze may struggle to stand out in a crowded field.

    User acquisition and retention: As a freemium product, Text Blaze needs to attract a large user base to generate revenue from premium subscriptions. At the same time, the company needs to retain its existing users and encourage them to upgrade to paid plans.

    Technological changes: Text Blaze may need to adapt its product to keep up with technological changes, such as updates to web browsers or changes in user behavior.

    Text Blaze – Future Plans

    Text Blaze’s future plans include becoming a fully remote company, generating $1-2 million in revenue, and expanding its user base to over 200,000 users. The company aims to become close to profitable, with a net revenue retention (NRR) rate of around 150%.

    To achieve these goals, Text Blaze plans to expand its reach to every screen, including desktop and mobile devices, and continue adding building blocks such as integrations, automation, and report building. The company’s focus is on enhancing user experience and adding value to its product.

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    Text Blaze – Funding

    Date Stage Amount Investor Name
    March 2021 Seed $3.5 million Twi Sigma, Susa and a few more

    If you’re inspired by Text Blaze’s success story and want to create your own Chrome extension, this article on building and promoting a Chrome extension is a must-read.

    FAQ

    What is TextBlaze ?

    TextBlaze is a productivity tool that allows users to create custom text snippets or templates that can be inserted into any text field or document. These snippets can include frequently used phrases, email responses, code snippets, or any other text that you find yourself typing frequently.

    What does Text Blaze do?

    Text Blaze is an application software that helps businesses/users to save time and increases quality by automating repeated typing tasks anywhere on the web. Users save text snippets and insert them anywhere using predefined keyboard shortcuts.

    Does text blaze work with Gmail?

    Text Blaze works on Gmail, Google Docs, LinkedIn, Salesforce and wehereever else on web.

    Does Text Blaze work in Word?

    You can insert Text Blaze shortcuts on any Windows application or website (as long as the site is on a Chrome browser). You can use Textblaze in Outlook, Slack, Notion, OneNote, or Word to save time.

    How do I add text blaze to Chrome?

    1. Step 1: Install the Text Blaze Chrome Extension.
    2. Step 2: Log into the Text Blaze Dashboard.
    3. Step 3: Create a Snippet.
    4. Step 4: Use a Snippet in a Webpage.
    5. Step 5: Share Snippets.

  • BYITC Success Story: Developing Young Minds Through Abacus, English, and Coding Classes

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by British Youth International College (BYITC).

    Have you ever struggled with math or witnessed a child experiencing difficulty grasping math concepts? Despite its importance in education, many people struggle with math and develop a fear of making mistakes. Children often find it challenging to grasp difficult math concepts and can develop a fear of making mistakes.

    To address this problem, British Youth International College (BYITC) offers an innovative and creative approach to learning math that helps students overcome their fear and enjoy math to the fullest. BYITC provides mental development, skill development, and language proficiency training to children through its Abacus Mathd, English language, IT, and coding classes.

    The abacus, one of the earliest known calculating devices, is a proven brain development tool that enhances mental arithmetic abilities in children. Here, you will learn how BYITC has adapted the abacus to modern-day teaching methods and why it’s a powerful tool for improving children’s math skills.

    In this article, get to know about BYITC, its business model, founder, USP, and more.

    BYITC – Company Highlights

    Company Name British Youth International College (BYITC)
    Headquarters Glasgow, United Kingdom
    Industry EdTech, E-Learning
    Founders Dr Rashmi Mantri
    Founded 2016
    Website byitc.org

    BYITC – About
    BYITC – Founders and Team
    BYITC – Startup Story
    BYITC – Vision and Mission
    BYITC – Product and USP
    BYITC – Business and Revenue Model
    BYITC – Launch and Growth Strategy
    BYITC – Competitors
    BYITC – Future Plans

    BYITC – About

    British Youth International College (BYITC) offers training in mental development, skill development, and language proficiency development for young people through its courses on the abacus, English, cyber awareness, and more. Abacus Math aids in mental development and improves a student’s arithmetic skills. It also offers result-oriented English language programs, such as English for Kids, Accent Training, and Spoken English. Apart from abacus and English courses, BYITC provides computing and coding classes for children.

    BYITC – Founders and Team

    Dr Rashmi Mantri started BYITC along with her son Dhruv Maheshwari.

    Dr Rashmi Mantri

    Dr Rashmi Mantri - Founder and Director, British Youth International College (BYITC)
    Dr Rashmi Mantri – Founder and Director, British Youth International College (BYITC)

    Rashmi serves as the Director at British Youth International College. She has done BSc (Hons), MSc (Dist), and Ph.D. Computer Science from the University of the West of Scotland. Prior to founding BYITC, she worked as a lecturer at West George College Limited, Senior Web Developer at Parker and Hobbs, Web Application Developer at Social Care and Social work Improvement Scotland, and as a Semantic Web Researcher (Database Research Group) at the University of the West of Scotland United Kingdom.

    BYITC – Startup Story

    Inspiration to Start BYITC

    Dr. Rashmi Mantri began her career as a software engineer in the industry, but due to a strong interest in academics, she transitioned to work as a corporate IT trainer and lecturer in various institutions around the United Kingdom.

    Education is without a doubt her passion, and she feels that it has the power to transform the world. Rashmi’s entire life revolves around her son, Dhruv Maheshwari, including her transition from educating adults to teaching children. One day, Rashmi asked Dhruv to perform a simple arithmetic sum for her while he was in Primary 5. Subtracting 13 from 35 was as simple as that. But, much to her surprise, he couldn’t figure it out. She was disappointed and then became determined to change her child’s attitude toward numbers.

    Rashmi began teaching him math with Abacus, a fascinating and simple tool. Despite the fact that the abacus is as old as civilization, few people use it nowadays. People can compute sums faster than a calculator after learning the Abacus method. Dhruv was quick to learn the new method, picking up the Abacus Mental Theory in just six days. The “Human Calculator” is his new moniker. Little Big Shots, an ITV show where he was invited to perform and demonstrate his very fast calculations, gave him this nickname.

    They received a significant response from parents all throughout Scotland after the show. Many of them rushed in and asked if she could teach their child in the same manner. They couldn’t believe what they were seeing! In answer to her son’s request, Rashmi organized an Open Day at his school, which drew a huge crowd of students and their parents. This marked the start of BYITC!

    Researching and Validating the Idea

    The research and validation took place as part of travel through Glasgow, where the idea was tested in a variety of schools and with hundreds of kids. Rashmi and Dhruv discovered that the students lacked arithmetic skills and had a strong phobia of mathematics. When Rashmi first started teaching students math using the Abacus technique, their arithmetic skills improved dramatically, and she could see that this teaching method was working.

    As students began to do well in mathematics in their classrooms, this development intrigued school teachers, who began questioning students about how they learned to calculate so quickly. As a result, she began receiving requests from schools to use this method in their classrooms. That was a milestone that validated the instructional approach.

    Journey of Ideation, Designing & Prototyping

    Dhruv persuaded his mother Rashmi to start the first batch of Abacus classes, which began the Ideation journey. She was really busy with her profession at the time and was hesitant to take on such a large responsibility. But Dhruv persuaded her, and Rashmi began working on a genuine launch of her class by opening the first center in Glasgow. The original curriculum was created by Dhruv and Rashmi.

    They started receiving class requests from all over Scotland as soon as the first few batches were completed, so they created another venue in Glasgow and Edinburgh. However, they quickly realized that they couldn’t have a center in every location, so Rashmi & Dhruv began planning to teach the course online.

    Rashmi’s computer science education and work experience came in handy here. Her transformation from binary to Abacus digits aided in comprehending and building the world’s first online e-learning Abacus application. She began developing an application for Abacus instruction. Rashmi formed a team of computer professionals to construct an internet application after developing a prototype.

    The team was ready with the web application for Abacus instruction in 2018, which was the first of its kind on the globe. They were largely using the application in a hybrid format with physical classes at the time. However, when the pandemic struck and the world came to a halt for a few months, they decided to take all of their classes online since Quality Education cannot and should not be interrupted.

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    BYITC – Vision and Mission

    The company’s vision is to assist students in laying the foundation for a bright future by using innovation and technology to make learning more engaging.

    Its short-term goal is to raise awareness and make Abacus Mental Maths Education accessible to the world’s children by developing the world’s first state-of-the-art Abacus teaching online application.

    Core Belief
    The team is committed to leveraging technology to improve children’s learning abilities. The core staff also believes in working with parents in a transparent and honest manner to improve their children’s futures.

    BYITC – Product and USP

    Online English Class | British Youth International College (BYITC)

    BYITC’s Abacus course aids in the development of a student’s mental abilities and arithmetic skills. Students can improve their English language skills by taking English courses.

    On its online web application, the courses are taught by trained and certified teachers. Students and teachers can access the entire teaching content via the web application. The application delivers customized course content, and information, assigns homework, and tests, then evaluate results and generate reports.

    The web application allows the team to deliver its material to any location in the world. BYITC is the only firm with a fully functional Abacus teaching web application. Traditional Abacus classes require a lot of student-teacher interaction and include a lot of questions, homework, worksheets, and so on, whereas a student studying through its application can interact and learn with the teacher remotely, access and practice a lot of questions, do his homework, take tests, and access reports.

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    BYITC – Business and Revenue Model

    BYITC operates on both Business-to-Business (B2B) and Business-to-Customer (B2C) models. Under the B2C model, students can take live online instructor-led classes through the company’s web application. Under the B2B model, the company works with educational institutions such as schools and colleges to provide online educational content and services. Additionally, they also offer a franchise model that provides business opportunities to interested individuals.

    Under the Franchise model, the company will conduct offline and online hybrid lessons through physical centers across the country. This model will be extremely useful for students who do not have access to a computer or an internet connection, or who prefer to take classes offline. This concept will also provide adolescents, girls, and teachers with a business opportunity. The team at BYITC is willing to share its business knowledge with like-minded individuals.

    BYITC – Launch and Growth Strategy

    “Perhaps we were extremely fortunate in obtaining the first few clients, as the company was founded in response to the desires of our first few consumers. We had customers first, and then we devised a strategy for turning it into a business” says, Rashmi Mantri, Founder & Chairperson, BYITC

    The team held an Open Day to invite parents and children who struggled with mathematics after they started the first batch with a few pupils. The Open Day was a huge success, and they reached the milestone of 80 pupils in less than a month.

    BYITC approached schools to reach out and interact with parents in order to raise awareness about its programs. Since the Abacus maths education produces visible results, it was quite straightforward to persuade schools to use its curriculum.

    The team at BYITC believes that its focus on maintaining teaching quality and providing each child with a personalized learning experience has aided the company in retaining its customers the most. They have a “no compromise policy” for providing quality education to their students.

    BYITC – Competitors

    Aloha and UCMAS are the top competitors of BYITC.

    BYITC – Future Plans

    BYITC’s goals involve concentrating on the Indian market, where it intends to form partnerships with reputable schools to give its courses to students. The company will also use the franchise model to develop a robust and broad physical center network to provide its courses.

    The corporation intends to enter new markets, primarily in Asia and the Middle East. For a few months, it has been offering its courses to a number of Asian and Middle Eastern nations, and the team has noticed a strong demand for its courses. In order to ensure the excellent quality of its course delivery, the organization is actively working on incorporating additional technological innovation.

    BYITC – FAQs

    What does BYITC do?

    British Youth International College (BYITC) offers training in mental development, skill development, and language proficiency development for people as young as 6 up to 24 through its Abacus Mental Maths and English language courses.

    Who is the founder of BYITC?

    Dr Rashmi Mantri started BYITC along with her son Dhruv Maheshwari.

    What is the USP of BYITC?

    BYITC is the only firm with a fully functional Abacus teaching web application. BYITC’s Abacus course aids in the development of a student’s mental abilities and arithmetic skills. Students can improve their English language skills by taking English courses.

    Who are the competitors of BYITC?

    Aloha UCMAS and more are the competitors of BYITC.

  • 0x: Decentralized Trading for the Crypto Economy

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by 0x.

    Traditionally, the financial system was governed by the country’s government as it used to determine the citizen’s economic freedom level. However, blockchain technology now presents an opportunity to create a decentralized global financial system free from the control of a single central body. It allows tokenizing of different forms of value, including fiat currencies, real estate, stocks, cryptocurrencies, debt instruments, and more.

    Moreover, the blockchain market size in 2021 was valued at $3,757.49 million and is predicted to reach $190,682 million, which means its growing at CAGR of 54.7% during 2023-2030.

    0x is an essential contribution to the tokenized world that has enabled parties to execute and settle token trades freely without any counterparty risks. Read further to uncover more insights about 0x company.

    0x – Company Highlights

    Company Name 0x
    Headquarters San Francisco, California, United States
    Primary Industry Financial Software/ Blockchain
    Founders Will Warren, Amir Bandeali
    Founded In 2016
    Website 0x.org

    0x – About
    0x – Founders and Team
    0x – Startup Story
    0x – Mission and Vision
    0x – Trading Model
    0x – Products
    0x – Funding
    0x – Partners
    0x – Growth
    0x – Competitors
    0x – Future

    0x – About

    Based in San Francisco, 0x is a privately-held architect of web3 exchange infrastructure. It was founded in 2016 and is an open-source, decentralized exchange infrastructure for the emerging crypto economy. The company enables users to exchange tokenized assets of hundreds of billions of dollars across multiple blockchains.

    0x powers multiple NFT projects, including Coinbase NFT, Trader, Gamestop NFT, Genie, and Proof of Beauty. Moreover, it is currently supporting 8 chains- Ethereum, BNB Chain, Celo, Polygon, Fantom, Avalanche, Arbitrum, and Optimism.

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    0x – Founders and Team

    0x was founded by Will Warren and Amir Bandeali.

    Will Warren, Amir Bandeali - Founders, 0x
    Will Warren, Amir Bandeali – Founders, 0x

    Will Warren

    CEO of 0x, Will Warren has earned a degree in Mechanical engineering from UC San Diego. He worked in multiple research roles and was appointed as Technical Advisor for Basic Attention Token (BAT) before launching his own company. He has achieved a lot at a young age and won the Consensus 2017 Proof-of-Work Pitch Competition.

    Amir Bandeali

    Co-founder of 0x, Amir Bandeali has graduated from the University of Illinois with a degree in Finance. He held the role of the trading specialist at Chopper trading and DRW before becoming the CTO of 0x.

    Since the launch of the company, the number of employees has increased to 119. Currently, the 0x’s board comprises four members and the team is composed of 32 core members, including engineers, designers, and researchers.

    0x – Startup Story

    Will Warren and Amir Bandeali shared a belief that all forms of value would be tokenized in coming years and thus, with this belief in mind, they came up with the 0x project in 2016. The main idea behind it was to allow developers and businesses to develop new markets for their tokens on major blockchains- Ethereum and Avalanche.

    The startup was successfully launched in August 2017 by conducting an ICO that raised $24 million by selling half of the total supply (500M) of its ZRX token in 24 hours.

    The multi-millionaire company also operates the decentralized exchange (DEX) aggregator Matcha- a platform that aids traders in optimizing costs by discovering the best prices across multiple platforms. Moreover, in April, it collaborated with Coinbase- the largest cryptocurrency exchange in the US.

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    0x – Mission and Vision

    0x envision a world where all forms of value will be tokenized across public blockchains. Combined with a set of open financial primitives, the company is striving to build a transparent and efficient global financial system. Moreover, its mission statement states, “Build a tokenized world where all value can flow freely.” It truly believes that public blockchains can potentially act as a powerful equalizing force to the world.

    0x – Trading Model

    Based on smart contracts, 0x’s protocol enables the peer-to-peer trading of crypto tokens built on public blockchains. Crypto tokens can include fungible tokens (standard crypto tokens), non-fungible tokens (NFTs), and bundles with different types of assets. Makers and takers are two sides of the 0x ecosystem.

    A maker places an order stating what he wants and what he can trade. Each order is shared with counterparties and 0x finds out the order price for the taker. The order is accepted by the taker. In last, the company verifies whether conditions are met and exchange the maker’s and taker’s assets.

    What is 0x (ZRX)?

    0x – Products

    Its exchange architecture comprises orders that are executed on-chain through standardized smart contracts. Projects that use 0x are Paradex, Radar Relay, Ethfinex, and others.

    0x Instant, 0x Launch Kit, 0x Mesh, 0x API, and AssetSwapper are the products used by consumers to conduct transactions like purchasing tokens or generating revenue for their businesses.

    0x – Funding

    Since it has the potential to grow in the future, 49 investors have invested their stakes in the company. Some of its investors are Alex Felix, Applied Crypto ventures, Fabric Ventures, ZMT Capital, Digital Strategies, and Coinbase Ventures.

    The total funding amount that 0x has raised over 9 funding rounds is $109 million. The latest funding round was held in April 2022 – 0x Series B Round in which it raised $70 million with the participation of around 14 investors.

    Date Round Number of Investors Money Raised Lead Investor
    April 26, 2022 Series B 14 $70 million Greylock
    February 5, 2021 Series A 7 $15 million Pantera Capital
    October 19, 2020 Secondary Market – – –
    October 1, 2020 Venture Round 2 – –
    October 1, 2017 Venture Round 1 – –
    July 28, 2017 Seed Round 5 – –
    July 1, 2017 Seed Round 2 – –
    June 29, 2017 Initial Coin Offering 11 $24 million –
    January 1, 2017 Venture Round 1 – –

    0x – Partners

    Over the years, 0x has partnered with ZetaChain, Zapper, MetaMask, CoinMarketCap, BlueBit Finance, Prysm, and Rari Capital.

    0x – Growth

    The estimated annual revenue of 0x in 2022 is $15.5 million per year ($130,000 per employee). The current valuation of this multi-millionaire company is $1.1 billion (April 2022). In addition, it has enabled the flow of over $182 billion in tokenized value across 53M+ trades, with over 5.6M+ users.

    0x – Competitors

    Some competitors of 0x are Hippo labs, OpenSea, MojitoSwap, Matcha, Uniswap, and ZKSpace.

    0x – Future

    Ox is planning to integrate new chains (including non-EVM chains), invest in cross-chain functionality, expand its support for NFT swaps, and provide more support to integrators.

    FAQs

    How does 0x support the growing crypto economy?

    0x supports the growing crypto economy by providing a decentralized exchange infrastructure that enables peer-to-peer trading of tokens on the Ethereum blockchain without the need for a centralized intermediary.

    What role do 0x tokens (ZRX) play in the ecosystem?

    The 0x token (ZRX) is used for decentralized governance, protocol fees, and liquidity rewards on the 0x network. ZRX can also be used to pay transaction fees, as collateral for decentralized loans and margin trading, and to align stakeholder interests in the ecosystem.

  • ABL Space Systems: A Cost-Effective Way to Access Space

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by ABL Space Systems.

    Aerospace, a term used for collectively referring to the atmosphere and outer space, comprises a multitude of commercial, military, and industrial applications.

    The aerospace industry is one of the largest and most powerful industries, especially in the United States while supplying five markets- missiles, military aircraft, general aviation, space, and commercial airliners. Since, the US aerospace sector is considered the largest across the world, more and more companies are establishing their business to leverage growth opportunities in the US aerospace market.

    ABL Space Systems is one such company that specializes in building rockets and launching satellites. Read further to know more about the company- its startup story, patents, funding, competitors, and other important details.

    ABL Space Systems – Company Highlights

    Company Name ABL Space Systems
    Headquarters El Segundo, California, United States
    Primary Industry Aerospace
    Founders Harry O’Hanley, Dan Piement
    Founded In 2017
    Website Ablspacesystems.com

    ABL Space Systems – About
    ABL Space Systems – Industry
    ABL Space Systems – Founders and Team
    ABL Space Systems – Startup Story
    ABL Space Systems – Mission and Vision
    ABL Space Systems – Name, Tagline, and Logo
    ABL Space Systems – Products and Services
    ABL Space Systems – Challenges Faced
    ABL Space Systems – Funding and Investors
    ABL Space Systems – Subsidiaries
    ABL Space Systems – Patents
    ABL Space Systems – Growth
    ABL Space Systems – Competitors

    ABL Space Systems – About

    ABL Space Systems is an American, privately-held company that specializes in launch vehicle and launch systems technology development with the help of CNC and 3D printing and minimized launch operations. The company manufactures the components in the division located in the United States.

    The vehicle and launch systems provided by it are innovative and enable space resiliency. Whether it’s for natural resource management, exploring the solar system, or global communications, the company’s affordable and reliable launch systems can be activated anywhere in the world.

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    ABL Space Systems – Industry

    The aerospace industry consists of companies either involved in designing and developing prototypes, manufacturing or assembling complete aircraft or rockets and their parts, and launching them into space.

    The global aerospace market was estimated at $261.12 billion in 2022 and grew to $278.43 billion in 2023. This implies that the industry grew at a CAGR of 6.5% during this period. However, the aerospace industry was impacted by the COVID-19 pandemic. Moreover, the chance of global economic recovery is further disrupted by the Russia-Ukraine war, at least in the short term.

    Major companies operating in this industry are Lockheed Martin Corporation, Raytheon Technologies Corporation, Rostec State Corporation, and Airbus.

    ABL Space Systems – Founders and Team

    Harry O’Hanley and Dan Piemont are the founders of the company.

    Harry O'Hanley, Dan Piemont - Founders, ABL Space Systems
    Harry O’Hanley, Dan Piemont – Founders, ABL Space Systems

    Harry O’Hanley

    Working as a Founder and CEO of ABL Space Systems, Harry O’Hanley graduated from Massachusetts Institute of Technology (MIT) as a Research Assistant. He formerly worked at SpaceX.

    Dan Piemont

    Dan Piemont graduated from the Massachusetts Institute of Technology (MIT) with a degree in Bachelor of Science (B.S.), in Physics. He worked in the Product + BD Department before holding the role of Founder, President, and CFO at ABL Space Systems.

    Presently, the company is employed with nearly 280 employees.

    ABL Space Systems – Startup Story

    Harry O’Hanley and Dan Piemont founded ABL Space Systems in 2017. They developed two-staged RS1 for the high-cadence, no-fuss future of orbital launches. This rocket offers a maximum capacity of 2,980 lb to low earth Orbit (LEO).

    The company signed a lease with Camden Country, Georgia in 2018 for future operations in Spaceport Camden. It is in 2019 that it leased a facility at Port of Long Beach for building a spacecraft processing division.

    Furthermore, it also secured a contract with Spaceport America for locating some ABL testing operations and facilities in New Mexico. However, as of October 2022, no mention of this location s made by ABL Space Systems in their facility list.

    Moreover, the company developed a transportable launch system model that could send a rocket to space from any location and also it geared up for its first-ever liftoff in 2022.

    ABL Space Systems – Mission and Vision

    The company believes that accessing space need not be expensive, difficult, or complicated. Therefore, it focuses on building the systems, CONOPS, and organization to prove the same.

    The tagline of the company at present is – “A Better Way to Build.”

    ABL Space Systems -Tagline
    ABL Space Systems -Tagline
    ABL Space Systems - Logo
    ABL Space Systems – Logo

    The logo of ABL Space Systems consists only of simple geometric shapes and text.

    ABL Space Systems – Products and Services

    ABL Space Systems provides the services required for building rockets and launching satellites. Moreover, the company offers two products- RS1 and GSO – as smooth launch systems.

    ABL RS1 Path to Flight

    ABL Space Systems – Challenges Faced

    The company made headlines with its first orbital launch on 10 January 2023; however, it failed soon after the launch. The RS1 rocket’s first stage shut down simultaneously due to power loss and thus, it hit the launch pad and was destroyed.

    ABL Space Systems – Funding and Investors

    ABL Space Systems has undertaken 4 funding rounds in which it raised a total of $419 million. It raised $200 million in the latest funding round – Series B Round which was held on 25 October 2021. The company is funded by 7 investors and Fidelity Management and Research Company and T. Rowe Price are the recent ones.

    Date Round Number of Investors Money Raised Lead Investor
    October 25, 2021 Series B – $200 million –
    March 25, 2021 Series B 2 $170 million T. Rowe Price
    March 31, 2020 Series A 5 $49 million Venrock
    July 22, 2019 Corporate Round 1 – Lockheed Martin Ventures

    ABL Space Systems – Subsidiaries

    Headquartered in El Segundo, ABL Space Systems has four more divisions. The largest facility is located at the Port of Long Beach, California which conducts vehicle processing, payload integration, and maritime operation.

    Two facilities in Mojave, California are focused on R&D and running test operations on E2 engines, launch equipment, and integrated stages. The premises in Seattle, Washington used to be responsive to customer needs across geographies.

    ABL Space Systems – Patents

    The intellectual property of the company includes a total of 9 patents worldwide and these belong to 3 unique patent families – Aircraft, Aviation, and Cosmonautics. Out of 9 patents, ABL Space Systems has 7 active patents which are filed in the US, Europe, Australia, and Canada.

    ABL Space Systems – Growth

    The annual revenue of ABL Space Systems in 2021 is estimated to be $75.6 million per year ($264,450 per employee) with its current valuation standing at $2.4 billion (2021). In addition, its employee count increased by 79% last year.

    ABL Space Systems – Competitors

    The company is ranked 1st among its 4 active competitors. Some of its main competitors are:

    • iRocket
    • Simera Sense
    • Beyond Earth
    • Hermes Aviation
    • Aeros
    • Tyvak Nano-Satellite Systems
    • Systems Technology
    • Innoflight
    • Zee Aero

    FAQs

    What does ABL Space Systems specialize in?

    ABL Space Systems specializes in the development of launch vehicles and launch systems technology.

    How does ABL Space Systems’ technology contribute to space resiliency?

    ABL Space Systems’ technology contributes to space resiliency by providing reliable and innovative launch systems, which enable the deployment of space assets, enhance mission assurance, and reduce launch costs.

    Has ABL launched a rocket?

    ABL Space Systems (ABL) launched the debut flight of the RS1 launch vehicle on Jan. 10, 2023.

  • Workato Success Story – Leading the Way in Automation

    An incredible wave of innovation, ubiquitous networking, the ability to use big data, the strength of advanced analytics, and the future potential of portable technology are all having a significant impact on every business environment. We are talking about enterprise automation, which is making a massive breakthrough in many organizations. The number of companies depending on automation speaks about the technology itself.

    For business owners, complex data and other unsystematic information are of no help. That’s where enterprise automation comes into the picture. Thanks to this ingenious technology, companies can function systematically and analyze operational strategies to guarantee peak performance while searching for manual procedures that can be replaced with digital substitutes.

    One such company that is regarded as one of the leading enterprise automation platforms is Workato. The firm was founded in 2013 and has its head office in Mountain View, California. In 2023, Workato has been recognized as a Leader in the Gartner Magic Quadrant for Integration Platform as a Service for five consecutive years. The company also received 4.9 ratings out of 5 on Gartner Peer Insights for its customer experience, with 450 releases delivered in the past 12 months.

    Let’s check out Workato’s business and revenue model, its funding and investors, and its overall journey in this article.

    Workato – Company Highlights

    Company Name Workato
    Headquarters Mountain View, California
    Industry Software Development
    Founders Vijay Tella, Gautham Viswanathan, Harish Shetty
    Founded 2013
    Website workato.com

    Workato – About
    Workato – Industry
    Workato – Founders and Team
    Workato – Startup Story
    Workato – Mission and Vision
    Workato – Name, Tagline, and Logo
    Workato – Business Model
    Workato – Revenue Model
    Workato – Funding and Investors
    Workato – Mergers and Acquisitions
    Workato – Growth
    Workato – Advertisements
    Workato – Awards and Achievement
    Workato – Competitors
    Workato – Future Plans

    Workato – About

    Without sacrificing security and governance, Workato enables IT and business teams to integrate their apps and automate business workflows. It enables businesses to generate results from business events in real time. More than 11,000 of the biggest brands in the world, including Broadcom, Intuit, Box, Autodesk, and HubSpot, trust Workato because it was designed for business and IT users.

    Workato enables both business and IT users to create workflow automation quickly by fusing an enterprise-grade workflow automation platform with the user-friendliness anticipated from consumer apps.

    Workato – Industry

    Workato belongs to the software development industry. This industry has emerged as a boon for many countries, such as India, the USA, etc. Recent research shows that the global software development market underwent significant expansion, with its value rising from $260.79 billion in 2022 to $334.86 billion in 2023, with a compound annual growth rate of 28.4%.

    As new trends keep coming in this particular industry, it is only going to grow. Furthermore, it is expected that the global software development industry is going to reach $1159.2 billion by 2031.

    Workato – Founders and Team

    Workato was founded by three friends, Vijay Tella, Gautham Viswanathan, and Harish Shetty in 2013.

    Vijay Tella

    Vijay Tella - CEO and Co-founder, Workato
    Vijay Tella – CEO and Co-founder, Workato

    Vijay Tella obtained his bachelor’s degree in engineering from the Indian Institute of Technology, Madras. After completing his graduation, he got his Master’s degree in Computer Science from the University of California, Los Angeles. For more than 25 years, he has overseen the development of market-leading integration technologies.

    Vijay Tella’s career started at Teknekron Software Systems (now acquired by Reuters), where he was employed for nine years. He served as the CEO of Qik, a consumer video communications company that was acquired by Skype, before joining Workato. Besides this, he helped create two multibillion-dollar integration products before Qik.

    Vijay was also a member of the founding team and served as SVP, of Engineering until TIBCO went public. He then participated in the 2005 launch of Oracle’s Fusion Middleware platform as its Chief Strategy Officer.

    Harish Shetty

    Harish Shetty - SVP Engineering and Co-founder, Workato
    Harish Shetty – SVP Engineering and Co-founder, Workato

    Harish Shetty is the co-founder and also serves as the SVP of Engineering at Workato. Prior to co-founding Workato, he served as the engineering director for two SaaS businesses. Earlier, he served as the lead architect and director of engineering for TIBCO’s BusinessWorks, ActiveMatrix, and Tibbr products. Harish has a degree in Engineering, Electronics, and Communications from the University of Mysore.

    Gautham Viswanathan

    Gautham Viswanathan - Chief Product Officer and Co-founder, Workato
    Gautham Viswanathan – Chief Product Officer and Co-founder, Workato

    Besides co-founding Workato, Gautham also serves as the Chief Product Officer at Workato. As a founding member of the TIBCO team, Gautham held several leadership positions in the company’s engineering, product marketing and management, and corporate development departments for more than 12 years. Following TIBCO, Gautham co-founded Blink Interactive and served as the CEO of iProfile.

    Workato – Startup Story

    The three co-founders of Workato founded the company intending to bring automation to business workflows. The idea came to Vijay Tella as an early employee of Teknekron, where he contributed to the development of the first software-based integration middleware called The Information Bus (TIB). He first met Gautham at TIBCO, where he developed the industry-standard enterprise integration software BusinessWorks, which continues to serve as a template for the majority of the current iPaaS platforms.

    After dealing with their personal career experiences, Vijay and Gautham reconnected. Co-founder, Gautham emphasized that when it came to today’s apps and cloud-based services, the integration problem that they had thought it had expertly solved at TIBCO was not really addressed.

    After a deep understanding of integration problems, the founders assembled an integration dream team by 2012 that was guided by two main tenets: first, business users leading digital transformation initiatives shouldn’t have to sacrifice the quality, features, and power of the platform they select; and second, big businesses, even Fortune 500 companies, shouldn’t be forced to deal with complicated, time-consuming, and expensive software.

    Workato – Mission and Vision

    The mission of Workato is to assist businesses in integrating and automating at least 10X faster than with conventional tools and at a tenth of the cost.

    Workato Logo
    Workato Logo

    Workato goes by the motto, “automate the work out of everything”

    Their tagline speaks about their main object, which is what they do and who they are. To be precise, their tagline states what they offer and about their services.

    The logo of the company is designed by one of their team’s UX designers, Xiuying Zhang. The logo of Workato stands out as a fresh, contemporary interpretation of the W, showing flow through the large, angular curves and the endpoints through the ball at the very end.

    Workato – Business Model

    Workato is a B2B SaaS-based company. The business model of Workato is about creating powerful automation and workflows.

    The most important aspect of Workato is Workato Recipes, which is a powerful yet simple approach that helps to automate complex data. A recipe is a set of instructions that a user develops to finish work between two or more apps. These building blocks can work with multiple apps and app instances, detect and remove duplicate records, detect errors automatically, roll back transactions, and ensure that every event is delivered, no matter what. In essence, a Workato recipe can be as simple or as complex as customers would like it to be, with multiple steps, data manipulation, workflows, and business logic embedded, handling challenges associated with user input, and much more.

    The company has also borrowed a page from GitHub to provide a platform for their customers to easily share their problems. It is a robust community of users, partners, citizen developers, and integration experts who regularly share their recipes. Today, the company has over 100,000 public recipes and is also witnessing the theory come to life as the majority of their customers find recipes that satisfy their needs in the community, copy them, adapt them slightly to fit their preferences, and then share them with the rest of the community.

    Workato offers its services for the HR, Marketing, Sales, Finance, Support, IT, Product, and Revenue Operations sectors.

    Workato’s specialties include:

    • Integration
    • Workflow Automation
    • Automation
    • Intelligent Automation
    • Business Process Automation
    • App Integration
    • Cloud App Integration
    • Ground App Integration
    • Enterprise Integration
    • Citizen Development
    • No Code Integration
    • Enterprise Web
    • Information Technology
    • Artificial Intelligence

    Workato – Revenue Model

    Workato earns money through the different pricing mediums it sets for each business or IT company as per their requirements. As the industry leader in the automation platform, Workato’s total valuation stood at $5.7 billion in 2021.

    Workato – Funding and Investors

    Till now (March 2023), Workato has raised a total funding of $415 million. The details are given below:

    Date Funding Round Amount Raised Lead Investors
    Nov 10, 2021 Series E $200 million Battery Ventures
    Jan 12, 2021 Series D $110 million Altimeter Capital, Insight Partners
    Nov 7, 2019 Series C $70 million Redpoint
    Dec 5, 2018 Series B $25 million Battery Ventures
    Jul 17, 2017 Series A $10 million Storm Ventures

    Workato is also funded by two more investors: Tiger Global Management and Geodesic Capital.

    Workato – Mergers and Acquisitions

    Workato has acquired RailsData on November 10, 2021. RailsData is an India-based Ruby on rails and big data development company for an undisclosed amount.

    Workato – Growth

    Since its inception, Workato has emerged as the leading enterprise automation platform. In 2021, Workato revealed its ranking on the 27th annual Deloitte Technology Fast 500, a list of the 500 fastest-growing technology, media, telecommunications, life sciences, and energy tech companies in North America. The company was placed 153rd overall and 43rd in the Bay Area. Additionally, Workato grew 739% from 2018 to 2021.

    Workato – Advertisements

    In 2019, Workato posted an advertisement based on their automation services. The ad spoke about how their automation platform can help customers handle complicated and critical integrations through thousands of apps and address a complex workflow with ease while maintaining security and governance.

    Workato | The Platform for the New Era of Automation

    Workato – Awards and Achievement

    Workato has achieved the following awards and recognitions:

    • Workato was recognized as a Leader in the 2023 Gartner Magic Quadrant for Integration Platform as a Service
    • Workato was recognized as a CNBC Disruptor, launching the first Automate World Tour
    • Workato has been listed in Deloitte Technology Fast 500 rankings in 2021
    • Listed in the Forbes Cloud 100 rankings

    Workato – Competitors

    Some of the top competitors or alternatives of Workato are:

    • SAP
    • Zapier
    • Azure
    • Boomi
    • MuleSoft’s Anypoint Platform
    • Celigo
    • TIBCO Cloud Integration
    • SnapLogic Intelligent Integration Platform

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    Workato – Future Plans

    Workato has newly launched a renewed and improved version of its community platform. The new Systematic Community contains a fresh, vibrant look, updated programming, moderator responses to technical questions, a job board, a private vendor evaluation hub, and more. It also has a new user interface with leaderboards and badges. With this new launch, Workato aims to enhance mobility between the community, the Workato product itself, and its education platform, the Automation Institute under one roof.

    Workato – FAQs

    What does Workato do?

    Workato enables both business and IT users to create workflow automation quickly by fusing an enterprise-grade workflow automation platform with the user-friendliness anticipated from consumer apps.

    When was Workato founded?

    Workato, headquartered in Mountain View, California, was founded in 2013.

    Who founded Workato?

    Workato was founded by Vijay Tella, Gautham Viswanathan, and Harish Shetty.

    Who are Workato’s top competitors?

    Some of the top competitors of Workato include Zapier, SAP, Azure, Boomi, MuleSoft’s Anypoint Platform, Celigo, TIBCO Cloud Integration, and SnapLogic Intelligent Integration Platform.

  • Abnormal Security – A Platform to Secure the Cloud Email

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Abnormal Security.

    Compromised business email has become one of the top cybersecurity threats in this digital age. The battleground for cybersecurity has now shifted and is driven by cloud, remote work, and digital transformation. According to the FBI, companies have suffered an estimated loss of $43 billion worldwide since June 2016 due to email attacks.

    With such a huge figure of loss, enterprises are considering partnering with cybersecurity companies that can shield them from email attacks. Abnormal Security is one such email security company established to protect enterprises from targeted email attacks.

    Let’s uncover its journey so far including some important aspects like startup story, founders, funding, achievements, future plans, etc.

    Abnormal Security – Company Highlights

    Company Name Abnormal Security
    Headquarters San Francisco, California, United States
    Primary Industry Cybersecurity
    Founders Evan Reiser and Sanjay Jeyakumar
    Founded In 2018
    Website Abnormalsecurity.com

    Abnormal Security – About
    Abnormal Security – Founder and Team
    Abnormal Security – Startup Story
    Abnormal Security – Mission and Vision
    Abnormal Security – Business Model
    Abnormal Security – Products and Services
    Abnormal Security – Funding and Investors
    Abnormal Security – Subsidiaries
    Abnormal Security – Patents and Trademarks
    Abnormal Security – Partners
    Abnormal Security – Growth
    Abnormal Security – Awards and Achievements
    Abnormal Security – Competitors
    Abnormal Security – Future Plans

    Abnormal Security – About

    Set up in 2018, Abnormal Security uses an AI-based cloud-native email security platform that relies on behavioral data science to prevent socially engineered and other types of email attacks that can potentially evade secure email gateways of organizations. The identity of company employees and external senders is mirrored by Abnormal Behavior Technology (ABX).

    The company is backed by Greylock Partners, a Silicon Valley-based venture capital firm. It protects over 5% of the Fortune 1000, including Urban Outfitters, Royal Caribbean, Xerox, and Groupon.

    Abnormal Security – Founder and Team

    Evan Reiser and Sanjay Jeyakumar are the founders of the company.

    Evan Reiser

    CEO and co-founder of Abnormal Security, Evan Reiser graduated from Rensselaer Polytechnic Institute with a degree in BS, Computer Systems, and Computer Science. Recently, he led product and machine learning teams at Twitter after co-founding Bloomspot and AdStack.

    Sanjay Jeyakumar

    CTO, Head of R&D, and co-founder of Abnormal Security, Sanjay Jeyakumar, graduated from Stanford University with a degree in MS, Computer Science. He previously was a founding engineer at TellApart and lead engineer at Google.

    Evan Reiser, Sanjay Jeyakumar - Founders, Abnormal Security
    Evan Reiser, Sanjay Jeyakumar – Founders, Abnormal Security

    Abnormal Security – Startup Story

    Abnormal Security’s founders knew that addressing the cybersecurity threat landscape was never going to be easy. So, they undertook an unconventional approach to the traditional cybersecurity models and came up with Abnormal Security by using their experience in behavioral modeling from the AdTech industry. The main idea behind setting up Abnormal security was to transform the traditional security system. It reimagined how cloud email can be secured against sophisticated attacks.

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    Abnormal Security – Mission and Vision

    Abnormal Security’s mission is to protect customers from all types of email attacks. It’s working on helping it’s VARS sell and earn more on each scale, with the integration of premium quality and high-margin solutions with its services.

    Abnormal Security – Business Model

    The cloud-native architecture of Abnormal Security operates via one-click, API-based G Suite and Office 365 integration without disrupting the email flow of enterprises. The understanding of an enterprise is established by clearly analyzing its employees and supply chain.

    Abnormal Security - API-based G Suite and Office 365 integration
    Abnormal Security – API-based G Suite and Office 365 integration

    The platform employs a data science approach and behavioral AL to provide resources for detecting, protecting, and responding to emails. It consolidates data across multiple channels into one platform for in-depth analysis and provides multi-tenant and cross-platform protection.

    Moreover, Abnormal Security’s platform co-exists with existing cybersecurity tools without interference, allowing enterprises to leverage the available information through the search Microsoft APIs.

    Abnormal Security – Products and Services

    The company offers cloud email security through multiple products and these are Inbound Email Security, Email Account Takeover Protection, Abuse mailbox Automation, Email Productivity, and Security Posture Management.

    Furthermore, organizations can eliminate the broadest spectrum of threats via Abnormal Security’s services – Credential Phishing, Business Email Compromise, Invoice and Payment Fraud, Supply Chain Compromise, Malware and Ransomware, and Spam and Graymail, Cloud Account Takeover.

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    4 solutions – SIEM, SOAR, ITSM, and IAM – are provided by the company to centralize security insights, automate processes, and orchestrate remediation workflows.

    Abnormal Security – Funding and Investors

    Over 3 funding rounds, Abnormal Security has been able to raise a total of $285 million. Moreover, the company’s latest funding round – Series C Round was undertaken on May 10, 2022, in which it raised a total of $210 million. Some of its main investors are Insight Venture Partners, Greylock, and Menlo Ventures.

    Date Round Number of Investors Money Raised Lead Investor
    May 10, 2022 Series C 3 $210 million Insight Venture Partners
    November 18, 2020 Series B 2 $50 million Menlo Ventures
    November 19, 2019 Series A 1 $24 million Greylock

    Abnormal Security – Subsidiaries

    Headquartered in San Francisco, Abnormal Security has regional offices located in the United Kingdom, Australia, Canada, New Zealand, and Singapore.

    Abnormal Security – Patents and Trademarks

    Talking about intellectual property, the company currently has 20 registered patents, primarily in the category of ‘Computing’ and ‘calculating.’ In addition to this, it has 9 registered trademarks categorized into the ‘Scientific and technological services’ class.

    Abnormal Security – Partners

    The company’s main partners are:

    Abnormal Security – Growth

    The subscription revenue growth in 2021 was reported to be 4x with a 98% customer retention rate. Since the company’s annual revenue is to be estimated at $127.5 million per year ($259,080 per employee) in 2022, Abnormal Security’s current valuation stands at $4 billion. Moreover, its employee count increased by 151% last year.

    Abnormal Security – Awards and Achievements

    Within almost 4 years of its inception, Abnormal Security has made a unique place in the cybersecurity industry by earning prestigious awards.

    • Top startups for the enterprise by CNBC 2022
    • Excellence Awards 2022 by search Microsoft Intelligent Security Association
    • Forbes 2022 America’s Best Startup EmployersEnterprise Tech 30
    • Best-of Email security by Expert Insights
    • Women to Watch (Nicole Jiang – Director of Product & Design) by Women in IT Security
    • Inc. Best Workplaces 2022
    • Recognized as one of the 100 Innovative Cybersecurity Companies by Expert Insights
    How Integrated Cloud Email Security (ICES) Works?

    Abnormal Security – Competitors

    With the company operating in a highly competitive industry, some of its competitors are:

    • Proofpoint
    • Mimecast
    • Avanan
    • Tessian

    Abnormal Security – Future Plans

    Abnormal Security plans to invest its funding to enhance its machine-learning artificial intelligence capabilities and target the market across the world for email security.

    Moreover, the company will invest in its AI-based automation capabilities, including Abuse Mailbox automation and personalized user experience. It plans to expand the company’s footprints into existing and new ones and also make it public in the coming years.

    FAQs

    When was Abnormal Security founded and by whom?

    Abnormal Security was founded in 2018 by Evan Reiser and Sanjay Jeyakumar.

    What is the mission of Abnormal Security?

    Abnormal Security’s mission is to protect customers from all types of email attacks.

    What funding has Abnormal Security received to date?

    Abnormal Security has been able to raise a total of $285 million. Some of its main investors are Insight Venture Partners, Greylock, and Menlo Ventures.

  • Dremio Success Story – Revolutionizing Data Analytics With Speed and Simplicity

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Dremio.

    Today, every organization seems to use data analytics and machine learning in its systems. The reason for this is quite simple: data analytics opens up the opportunity of delivering answers to challenging questions that are inaccessible using simpler analysis techniques. It is basically the process of collecting, analyzing, organizing, and extracting all the insights given in raw figures from a giant, complicated data system generated by businesses regularly.

    Data analytics technology is not only improving customer experiences but also increasing business efficiency and revenue management in every industry.

    Dremio is an easy and open-source data lakehouse that was started in 2015 with the aim of delivering data flexibility across all of your data. Recently, the company announced that it is now accessible as a part of AWS Marketplace Vendor Insights, a centralized web-based dashboard run by Amazon Web Services (AWS). By combining security and compliance data in a single dashboard, AWS Marketplace Vendor Insights streamlines risk assessments of third-party software.

    Read on to learn about Dremio, its startup story, founder, business and revenue model, and more.

    Dremio – Company Highlights

    Company Name Dremio
    Headquarters Santa Clara, California
    Industry Software Development
    Founder Tomer Shiran
    Founded 2015
    Website dremio.com

    Dremio – About
    Dremio – Industry
    Dremio – Founders and Team
    Dremio – Startup Story
    Dremio – Mission and Vision
    Dremio – Business and Revenue Model
    Dremio – Products
    Dremio – Growth
    Dremio – Funding and Investors
    Dremio – Challenges Faced
    Dremio – Awards and Achievements
    Dremio – Competitors
    Dremio – Future Plans

    Dremio – About

    Based in Santa Clara, California, Dremio is an easy and open-source data lakehouse that offers self-service analytics with data warehouse functionality and data lake flexibility for any organization’s data. The firm is also said to deliver mission-critical BI on the data lake for hundreds of organizations, including three of the Fortune 5.

    The company’s specialties involve data analytics, business analytics, big data, data science, data lake, SQL, NoSQL, BI, machine learning, Python, Java, pandas, R, Apache Arrow, MongoDB, Elasticsearch, S3, Jupyter, open source, and cloud.

    Dremio – Industry

    Dremio’s industry is the software development industry. In terms of the market, the software development industry is one of the fastest-growing industries in the world today.

    Many statistics reports show that growing at a CAGR of 27.5%, it is predicted that the market will increase from US$130.69 billion in 2021 to US$716.52 billion in 2028. There’s no denying that this particular industry is growing at an exponential rate.

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    Dremio – Founders and Team

    In 2015, Dremio was founded by Tomer Shiran, who is also the CPO. At present, Billy Bosworth is the CEO of Dremio.

    Tomer Shiran

    Tomer Shiran - Founder and CPO, Dremio
    Tomer Shiran – Founder and CPO, Dremio

    Tomer Shiran began his career as a Software Engineer at IBM Research. He is the creator of numerous U.S. patents and holds an MS in Computer Engineering from Carnegie Mellon University and a BS in Computer Science from Technion – Israel Institute of Technology. Previously, he worked at Microsoft. He also worked at MapR Technologies, where he served as VP of Product Management for almost six years. Before Dremio, Tomer co-founded ePassportPhoto.com, a passport photo service provider, which is now acquired.

    Billy Bosworth

    Billy Bosworth - CEO, Dremio
    Billy Bosworth – CEO, Dremio

    Billy Bosworth holds a BS in Information Science and Data Processing from the University of Louisville. In June 2019, he joined the Dremio board of directors. In February 2020, he was appointed CEO. Billy’s leadership qualities have helped shape Dremio’s growth by bringing its total market valuation to $1 billion for the first time. Before joining Dremio, Billy ran DataStax for more than eight years, growing its annual revenue from less than $1 million to over $130 million.

    Dremio – Startup Story

    Tomer wanted a straightforward precept that large corporations can resolve data analytics issues in a matter of minutes rather than weeks. That’s how he came up with the idea, Dremio.

    In the initial days, Tomer tried to understand customers’ challenges, and how they made their decisions, all of these gave him a deeper understanding of what the market actually needs. However, after a lot of hard work and leveraging multiple customer acquisition channels, he was able to find a few companies that supported his idea and agreed to use their product, Dremio.

    Tomer’s Dremio launched numerous open-source technologies, such as Apache Arrow and Apache Calcite, that further helped him connect with many other companies.

    With Dremio, Tomer aimed to give customers a self-service experience with regard to any data, regardless of size or timing. He knew this is a significant advancement because today’s data consumers must wait months for IT to produce the data they need to start finding the answers to their own questions.

    Dremio – Mission and Vision

    Dremio’s vision is to make corporate data as accessible and usable as personal data. The company’s goal is to offer a seamless, never-ending lakehouse experience to make accessing and analyzing corporate data easier than ever.

    Dremio – Business and Revenue Model

    Dremio is a B2B Software-as-a-Service (SaaS) Company that offers an open data lakehouse powered with self-service SQL analytics to make the work of data engineers and analytics effortless.

    The company works closely with top companies like Amazon, Abbott, Deloitte, GoPro, Airbus, Bentley, BlackRock, Bose, Decathlon, Carter’s, Bridgestone, Nokia, and many more. Dremio’s products are used by these companies

    Dremio’s vendor lock-in-free environment is provided by an open data lakehouse, which is built on community-driven standards like Apache Parquet, Apache Iceberg, and Apache Arrow.

    The pricing of Dremio products and services comes with nominal pricing that depends upon the customers as per their requirements. However, they offer two pricing methods: one is a Standard, which is free of cost and the other is an Enterprise plan, which depends upon the client’s requirement and their processing time on the Dremio platform.

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    Dremio – Products

    Dremio has two major products, these are:

    Dremio Sonar

    It is a SQL engine for open platforms that offers data lake performance and capabilities comparable to those of a data warehouse, as well as a self-service interface for collaborative and consumable data. Through Dremio Sonar, the data teams can easily analyze their data anywhere and provide them with end-to-end data security and centralized governance. Furthermore, Dremio Sonar’s SQL Runner, which is a top-tier IDE for analysts also offers auto-complete, multi-statement execution, and the ability to save and share SQL scripts can be used to search data engineer’s lakehouse data. One of the most fascinating features of Sonar is SQL Profiler and Data Map which helps users learn and improve query performance and how their datasets have evolved over time.

    Dremio Arctic

    This product by Dremio automates all the time-consuming tasks associated with data management for the lakehouse, such as compaction, repartitioning, and indexing, so that data teams are no longer concerned with the physical arrangement of data in files. Dremio Arctic basically brings consistency by using git-like branching to convert data across tables and schemas without affecting production workloads.

    Getting Started with Self-Service Data Analytics Using Dremio

    Dremio – Growth

    As per reports, Dremio generates approximately around $81.1 million annually. The overall valuation of the company was $2 billion in 2022.

    The company has also reported that since 2017, it has increased its annual recurring revenue by 10 times, and enterprise customer acquisition has increased by 500%. With the addition of engineering, support, and sales teams in Canada, India, and Austin, Dremio increased its global presence. The company also introduced a new Professional Services Group and an on-demand virtual education platform called Dremio University.

    This is what Tomer Shiran said, “Dremio experienced explosive growth across all business metrics in 2018. The adoption of Data-as-a-Service from the industry and customers played a significant role in our record growth in revenue and increased customer base. Our platform provides a fundamentally different approach that allows data to be managed in whichever persistence technology is most appropriate for a given use case while providing the functionality, performance, and security controls required for integrating with the traditional tools deployed on millions of desktops.”

    With the latest trends and market demands, Dremio is now expanding its services by teaming up with some of the best players in the market today. That being said, Dremio has made its services available as a part of AWS Marketplace Vendor Insights.

    Here’s what the Vice-president of business development at Dremio, Roger Frey says, “Dremio is excited to share our capabilities and credentials through AWS Marketplace Vendor Insights, where AWS Marketplace customers can accelerate the vendor selection process with a repository of responses to many of their questions. With AWS Marketplace Vendor Insights, customers have the knowledge they need to make technology decisions faster, and with more confidence”

    Dremio – Funding and Investors

    Dremio has raised a total funding amount of $410 million. The details of which are:

    Date Funding Round Amount Raised Lead Investors
    Jan 25, 2022 Series E $160 million Adams Street Partners
    Jan 6, 2021 Series D $135 million Sapphire Ventures
    Mar 26, 2020 Series C $70 million Insight Partners
    Jul 31, 2018 Series B $5 million Cisco Investments
    Jan 23, 2018 Series B $25 million Norwest Venture Partners
    Sep 25, 2015 Series A $15 million Lightspeed Venture Partners, Redpoint

    Some of the other investors of Dremio are Redpoint and DTCP.

    Dremio – Challenges Faced

    Five years ago, when the market was uncertain about the fact that data infrastructure was still evolving, Dremio had to go through numerous rounds of trials and errors to fix the problems of unsafe operations and endless scale challenges. As a result, they built Apache Iceberg.

    Even today, Dremio strives to work by keeping in mind the incoming challenges for the coming five years in the world of data analytics.

    Dremio – Awards and Achievements

    Below are the awards and achievements of Dremio:

    • Dremio was Named to The 10 Hottest Big Data Tools of 2022 by CRN
    • Recognized as the Best Big Data Analytics Solutions by the Tech Ascension Awards in 2022
    • Dremio was awarded as a Trend-Setting Products in Data and Information Managment for 2023 by DBTA
    • Dremio was listed in Deloitte 2022 Technology Fast 500 Winners
    • Winner of Best Places to Work in the Bay Area
    • Dremio is the winner of Protocol Power Index 2021 – Enterprise: Databases
    • Recognized in CRN Big Data 100 List 2021: The Coolest Emerging Big Data Companies

    Dremio – Competitors

    Some of the prominent competitors of Dremio are:

    Dremio – Future Plans

    Dremio is used by hundreds of global companies to offer self-service data analytics on the data lakehouse. The company continues to expand and collaborate to deliver uncomplicated data analytics solutions to drastically change the way data engineers work and strengthen their analytics journey.

    Dremio – FAQs

    What is Dremio?

    Based in Santa Clara, California, Dremio is an easy and open-source data lakehouse that offers self-service analytics with data warehouse functionality and data lake flexibility for any organization’s data.

    When was Dremio founded?

    Dremio was founded in 2015.

    Where are Dremio’s headquarters?

    Dremio’s headquarters are located in Santa Clara, California, USA.

    Who are the top competitors of Dremio?

    Some of the top competitors of Dremio are Snowflake, Databricks, MATLAB, search Microsoft SQL Server, IBM Db2, and Presto.

  • Addepar: Transforming Informed Investment Decisions

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Addepar.

    With the advancement of technology, several companies are delivering financial services by implementing APO, AI, data analytics, and blockchain. Moreover, in 2020, the global fintech technologies market size was estimated at $110.57 billion and is projected to reach $698.48 billion in 2030, with a CAGR of 20.3% from 2021 to 2030.

    Furthermore, Fintech has also made it possible for investors to make profitable investment decisions by providing access to important data. Several companies are striving to operate on this particular business model.

    Addepar is a globally recognized platform serving hundreds of companies and individual investors every day to meet the demands of the digital age, where efficiency, speed, and data security are key for making informed investment decisions.

    Let’s uncover important details about this company- how it started, its funding, investors, products and services, and growth.

    Addepar – Company Highlights

    Company Name Addepar
    Headquarters Mountain View, California, United States
    Primary Industry Financial Technology
    Founders Joe Lonsdale
    Founded In 2009
    Website Addepar.com

    Addepar – About
    Addepar – Founder and Team
    Addepar – Startup Story
    Addepar – Mission and Vision
    Addepar – Name, Logo, and Tagline
    Addepar – Business Model
    Addepar – Revenue Model
    Addepar – Challenges Faced
    Addepar – Funding and Investors
    Addepar – Mergers and Acquisitions
    Addepar – Patents and Trademarks
    Addepar – Partners
    Addepar – Growth
    Addepar – Awards and Achievements
    Addepar – Competitors

    Addepar – About

    Addepar is a software and data platform that is set up in 2019. Specializing in data aggregation, analytics, and portfolio reporting, the platform enables wealth and asset management for registered investment advisors.

    With client presence in over 30 countries, more than 800 leading firms trust Addepar for more informed and data-driven investing and advice. Its platform aggregates portfolio, client data, and market for more than $4 trillion of assets.

    Moreover, the company has 6 offices in Silicon Valley, Chicago, New York City, Salt Lake City, Edinburgh, and London.

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    Addepar – Founder and Team

    Joe Lonsdale, Founder - Addepar
    Joe Lonsdale, Founder – Addepar

    Joe Lonsdale graduated from Stanford University with a degree in BS, Computer Science. Before working as a Founder and Chairman at Addepar, he held the role of board member at Strive for College and Chairman of the Board at OneHope Wine. In addition, he founded Palantir Technologies and is also working as General Partner at 8VC.

    Presently, Eric Poirier is the CEO of the company and it employs more than 700 employees

    Addepar – Startup Story

    Joe Lonsdale was inspired to launch another venture in 2004 after founding a successful startup ‘Palantir.’ He came across a significant problem in the financial sector during the onset of the recession. He figured out that lack of communication between big banks resulted in a wide variety of formats which led to major inefficiencies.

    Lonsdale decided that he is going to create a solution that would minimize the number of software systems and provide a single platform offering simplicity. So, he developed a prototype and then researched while working with small financial service providers.

    When Lonsdale was satisfied with the product, he along with his team founded a company in 2009 to market it, named ‘Addepar.’ in 2012. t\The company expanded its target clients and included RIAs (registered investment advisers). Moreover, it came up with a sales and marketing campaign to attract large clients.

    Furthermore, Addepar focused on expanding risk analytics and its customer portal in 2013.

    Addepar – Mission and Vision

    Addepar’s mission is to bring data, technology, and people together so that investors can make better, more informed decisions. Moreover, the company strives to power the global financial system to efficiently allocate capital and mitigate risk.

    Addepar – Name, Logo, and Tagline

    Addepar - Logo
    Addepar – Logo

    The Addepar logo contains black and grey colors with simple geometric text. The black color signifies power, discipline, control, elegance, and authority. Gray, on the other hand, signifies neutrality, formality, and dignity.

    Addepar – Business Model

    When it comes to the business model, the company deals in a niche-specific market with a specialized customer segment. The offerings are primarily targeted at firms operating in the financial sector, including private banks, wirehouse teams, wealth advisors, large financial institutions, funds, and fund administrators.

    Addepar simplifies its customers’ portfolio analysis and its solution enable users to view portfolios vertically, horizontally, and in-depth. This provides an accurate picture which further allows clients to better understand the interplay of multiple assets and how regular events can impact their portfolio.

    Addepar – Revenue Model

    Talking about Addepar’s revenue model, the company has one revenue stream, i.e., the fee it charges from its customers for providing analysis services on its platform. The fee varies with the amount of data being reviewed in a given period. It typically ranges between $50,000 and $1 million depending on the involvement of two important variables- investment and money.

    Addepar – Challenges Faced

    Addepar has been criticized for its program to pay employees higher salary and incentives to live closer to its headquarter just to motivate them to spend more time at work. For instance, the company offered a one-time payment of $300 per month. John Liotti, CEO of East Palo Alto community advocacy group Able Works stated the concern of gentrification of the neighborhood due to this program.

    Addepar – Funding and Investors

    Over 6 funding rounds, Addepar has been able to raise a total of $491.4 million. Furthermore, its latest funding round – Series F Round was undertaken on June 15, 2021, in which it raised a total of $166.3 million. It is backed by 18 world-class investors and Vika Ventures, D1 Capital Partners, WestCap, and Cota Capital are the recent ones.

    Date Round Number of Investors Money Raised Lead Investor
    June 15, 2021 Series F 3 $166.3 million D1 Capital Partners
    November 18, 2020 Series E 3 $117 million WestCap
    June 8, 2017 Series D 7 $140 million 8 VC, Harald McPike, Valor Equity Partners
    May 13, 2014 Series C 8 $50 million David O. Sacks, Valor Equity Partners
    June 15, 2011 Series B – $17 million –
    April 19, 2010 Series A 1 $1.1 million –

    Addepar – Mergers and Acquisitions

    It has acquired 4 companies – AltX., RCI., CapShift, and AdvisorPeak.

    Addepar – Patents and Trademarks

    The company’s intellectual property presently has 25 registered patents, primarily in the category of ‘Computing’ and ‘Calculating.’ Furthermore, it has 23 registered trademarks categorized into the ‘Advertising’ and ‘Business’ class.

    Addepar – Partners

    Its partner network is designed to deliver the best possible results for clients. A few primary partners of the firm are:

    • Charles Schwab
    • Wealthscape
    • Morningstar
    • Intellifo Redblack
    • eMoney
    • Salesforce
    • Mirador
    • PFI Advisors

    Addepar – Growth

    The average assets that are added to the platform each week for many consecutive quarters are worth $15 billion. The estimated annual revenue of the company in 2022 is $146.1 million ($185,900 per employee). Currently, its valuation stands at $2.2 billion. Moreover, the employee count increased by 53% last year.

    Addepar – Awards and Achievements

    Talking about the company’s recent awards and achievements, Addepar was recognized as a Forbes Fintech 50 for the 5th consecutive year and it received Fintech Award from Morgan Stanley in 2018.

    Addepar – Competitors

    Some of its competitors are:

    • Orion
    • Tamarac
    • Envestnet
    • Vise
    • Solovis

    FAQs

    Who is the CEO of Addepar?

    Eric Poirier is the CEO of the company.

    What is Addepar and what does it offer to investors?

    Addepar is a platform that offers investment management and financial data aggregation services to investors. It provides tools for tracking and analyzing portfolios, as well as monitoring risk and performance.

    What kind of clients does Addepar serve, and in what industries?

    Addepar serves a diverse range of clients, including family offices, wealth advisors, banks, and foundations.