CloudAccess Expands Its Professional Service Offerings with Miller Media Acquisition

CloudAccess, Cloud Equity Group | June 30, 2020

CloudAccess, a leading Wordpress and Joomla cloud hosting provider based out of Michigan, today announced that it has expanded its professional service offerings with the acquisition of Miller Media, a Michigan-based web development and search engine marketing firm.

Miller Media is a Google Partner digital marketing agency focused on Internet marketing strategies, usability, conversion improvement, SEO, SEM, design, and development of websites. For over 30 years, the team at Miller Media has worked to bring transformative experiences to the business goals of its clients and the unique needs of its customers.

The add-on acquisition will allow both firms to leverage resources from each other to expand their respective service offerings and create significantly more value for their clients.

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Aconex delivers its platform using a cloud infrastructure and subscription model. Customers pay Aconex on a subscription basis for a license to use its cloud collaboration solutions across their projects. Aconex recognizes revenue evenly over the life of an engagement, which is on average around three years in length.


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CLOUD APP DEVELOPMENT

Arc Raises $161M to Launch Full-Service Finance Platform for SaaS, Built in Partnership with Stripe

Arc | January 14, 2022

Arc, the full-service finance platform for SaaS, emerged from stealth with $161 million in total funding from equity and credit investors. In partnership with Stripe, Arc is building a first-of-its-kind fintech solution where software founders can borrow, save, and spend on one comprehensive digital platform. Its introductory product, Arc Advance, allows SaaS founders to seamlessly convert future revenue into upfront capital without dilution at the click of a button. cloud services are among the world’s fastest-growing markets — estimated to reach $400 billion in revenue in 2022 and growing 20%+ year-over-year, according to Gartner. However, innovation in SaaS companies has outpaced the funding solutions supporting them. Historically, high-growth software companies in their earliest stages turn to venture capital and occasionally venture debt to fund their growth. These traditional sources of capital leave startups with expensive and offline solutions that limit their ownership, control, operating flexibility, and ultimately growth. Arc provides SaaS founders with a digitally native tool to fund growth without dilution, tapping into future recurring revenue to pay for operating expenses today. As the full-service finance platform purpose-built for SaaS startups, Arc is building a community of premium software companies where they can borrow, save, and spend all on a single technology platform. Arc is transforming Wall Street for Silicon Valley — marrying the capital available to mature companies with the consumerized technology experience demanded by technology startups. The company is quickly becoming the home for SaaS founders’ finance needs. “Arc provides SaaS startups with the funding alternative they deserve, empowering founders to scale without selling an ownership stake in their business or risking insolvency with legacy credit products. Arc was purpose-built for software founders. Our fintech platform eliminates the friction inherent in traditional capital raising while broadening access to non-dilutive capital, helping founders preserve ownership in the business they’ve worked so hard to build. And this is only the beginning — in the coming months, we'll be launching a full suite of financial tools to empower SaaS founders to scale their businesses efficiently and retain control. We want founders to know that when it comes to accessing and managing capital, Arc has your back.” Don Muir, Arc co-founder & CEO Unlike conventional banks, Arc leverages technology to programmatically underwrite credit risk, allowing Arc to deploy capital to founders in minutes rather than months. Backend API integrations from companies like Plaid enable Arc to rapidly and securely underwrite credit risk through real-time access to a startup’s financial data. Machine learning allows Arc to drastically improve interpretation of the financial information it receives compared to manual analysis alone. Leveraging Stripe’s banking-as-a-service technology, customers can store and spend their funding from Arc on a single platform designed for software companies. By building on top of these technology solutions, Arc has turned financing on its head, allowing founders to borrow against the future revenue of their company and grow efficiently. With Arc, startups can access the capital they need when they need it — without debt or dilution. Technology-driven financing also removes the biases inherent in conservative financial services — leveling the playing field for founders, especially those outside of Silicon Valley. NFX founder James Currier joined Arc’s Board of Directors and led the fund’s investment in Arc. Currier commented, “This is the top team going after this space. They met at Stanford GSB and prior to Arc, built consumerized SaaS software in Silicon Valley as well as raised billions of dollars of debt on Wall Street.” The company has also partnered with Y Combinator, which shares Arc’s mission to help startups grow. Arc was an early member of YC’s Winter 2022 batch, which commenced earlier this week. Jared Friedman, General Partner at Y Combinator, notes, “The Arc team's top-notch execution and the strong market need for this product have caused the YC community to rally behind their success." Since launching last summer, over 100 startups have signed up for the Arc platform. In the fourth quarter of 2021, the company increased its total funding to customers by over 110x — a period where funding was limited to select launch partners and a waitlist proliferated. To date, the largest segment of customers has been VC-backed B2B SaaS companies seeking to accelerate their growth spend while also prolonging their runway before raising additional equity. In addition to NFX and Y Combinator, the equity round also included participation from Bain Capital Ventures, Clocktower Technology Ventures, Torch Capital, Will Smith’s Dreamers VC, Soma Capital, Alumni Ventures, Pioneer Fund, and Atalaya Capital Management. Atalaya also provided the credit portion of the investment. A large number of high-profile angel investors also contributed to the round, including over 100 founders from Y Combinator-backed companies such as Vouch, Observe.AI, Eden Workplace, Teleport, RevenueCat, QuickNode, Dover, Middesk, Instabug, and Rainforest QA, as well as multiple founders of decacorn fintechs. The ex-Stripe angel syndicate also invested in the round. About Arc Arc is the full-service finance platform for SaaS, providing software startups with the customized financial products they deserve. Founded in 2021, Arc is on a mission to help startups grow by converting future revenue into upfront capital at the click of a button. The company is based in San Francisco and is funded by NFX, Bain Capital Ventures, Clocktower Technology Ventures, Torch Capital, and Y Combinator, among others.

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CLOUD APP DEVELOPMENT

AST Announces Strategic Investment by Recognize

AST | January 25, 2022

AST Corporation, a leading cloud and digital transformation solutions provider, announced it has received a strategic growth investment from Recognize, a technology services-focused investment platform. AST is an award-winning cloud services provider that has served clients in the public and commercial sectors for more than two decades. The partnership with Recognize enables AST to accelerate investment in innovation, enhance its global delivery footprint and expand its solution offering to clients. "AST has built a strong foundation with an award-winning culture focused on leveraging cloud technology in our core Oracle and Salesforce ecosystems to deliver value-based outcomes for our customers. As we look at the next chapter, we are excited about the partnership with Recognize, which will accelerate our efforts in building a differentiated, purposeful digital transformation solutions provider.” Justin Winter, CEO of AST With over 750 team members globally, AST is a leading, trusted services partner to Oracle, Salesforce and other notable technology vendors, managing large-scale digital transformation efforts. As organizations accelerate their shift to leveraging next-generation technologies, AST is uniquely positioned to manage clients’ digital transformation initiatives, including securely and efficiently shifting on-premise systems to cloud-based applications. “We are excited to work alongside Justin and his team to help AST continue to build on its already strong track record,” said Charles Phillips, Recognize co-founder and former president of Oracle. “AST is well positioned to capitalize on Oracle’s maturing cloud service and customers now have a clear path toward meaningful digital transformation.” “We are deeply impressed by the company that Justin and his team have built,” said David Wasserman, co-founder and managing partner of Recognize. "AST’s leadership position across its core end markets, differentiated focus on best-in-class service capabilities and industry-leading culture made us excited to partner with the team as they continue scaling the business.” Charles Phillips will join the company’s Board of Directors as Chairman alongside fellow Recognize co-founder David Wasserman and Recognize partner Mike Grady. This is the fourth platform investment for Recognize as it continues to deploy capital from its flagship fund. Willkie Farr & Gallagher acted as legal advisor to Recognize. Guggenheim Securities, LLC and Harris Williams acted as financial advisors to AST and Davis Polk & Wardwell acted as legal advisor. About AST AST is an award-winning full-service enterprise systems integrator, serving clients in the public and commercial sectors for more than two decades. Clients look to AST for leadership and assistance in systems integration, business process redesign, project management, systems administration, and training. From on-premise applications to modern cloud technology, AST’s services encompass all aspects of Enterprise Resource Planning, Business Intelligence, Enterprise Performance Management, Customer Experience, and Middleware. AST also offers flexible Managed Services, supporting the needs of over 200 Public Sector and Commercial customers around the globe. About Recognize Recognize is a technology investment platform exclusively focused on the technology services industry. Tech services firms envision, build, configure, manage, and operate software and business processes to deliver digital outcomes for enterprises. The firm provides operational expertise, industry insights, and strategic capital to innovative companies in this sector. Recognize is led by industry veterans Frank D’Souza, Raj Mehta, Charles Phillips, and David Wasserman, along with partners Mike Grady, Josh Miller, Deborah Munfa, and Shawn Pride.

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CLOUD INFRASTRUCTURE MANAGEMENT

BT Selects Google Cloud as Strategic Partner for Group-Wide Data and AI Transformation

BT | March 11, 2022

Today, Google Cloud and BT announced a strategic, five-year partnership to accelerate BT's company-wide digital transformation. The collaboration will involve BT using a suite of Google Cloud products and services—including cloud infrastructure, machine learning (ML) and artificial intelligence (AI), data analytics, security, and API management—to deliver superior customer experiences, reduce costs and risk, and build new revenue streams. BT is undertaking a massive digital transformation through its BT Digital unit, and this initiative includes creating a group-wide data and AI fabric as part of its cloud-first and AI-first strategy. Under the partnership, the two companies will help BT unlock hundreds of new business use-cases to strengthen its ambitions around digital offerings and creating hyper-personalised customer engagement. BT's data transformation is centred around driving business outcomes and using AI and deep ML across the organisation to allow businesses and customers to make more data-led decisions, as well as creating deeper personalisation for customer offerings and new go-to-market propositions. This will also enable BT to have real-time network analytics to allow for a more enhanced customer service through predictive fault management and assurance. In addition, Google's SRE team will partner with BT to foster a continuous delivery and "zero ops" autonomous operations culture to accelerate product development and continuous innovation as part of the new culture of working that BT calls "The Digital Way." Our partnership with Google is one of a series of strategic moves that BT Digital is taking to help accelerate BT's growth and digital transformation. This is a partnership that is deeper than just at the technology level. It will help Digital as a whole supercharge BT and drive its return to growth," Harmeen Mehta, Chief Digital and Innovation Officer, BT. "We're proud to collaborate with one of the world's leading providers of communications services and play an integral part in its digital transformation journey," said Thomas Kurian, CEO at Google Cloud. "By deploying our full cloud capabilities, and support from our SRE organisation, our goal in this partnership is to set up BT with the tools it needs for future growth and innovation." Google and BT have already started working together on adopting Google technology, and plan to complete the core migration of data by 2023. About Google Cloud Google Cloud accelerates every organisation's ability to digitally transform its business. We deliver enterprise-grade solutions that leverage Google's cutting-edge technology – all on the cleanest cloud in the industry. Customers in more than 200 countries and territories turn to Google Cloud as their trusted partner to enable growth and solve their most critical business problems. About BT BT Group is the UK's leading telecommunications and network provider and a leading provider of global communications services and solutions, serving customers in 180 countries. Its principal activities in the UK include the provision of fixed voice, mobile, broadband and TV (including Sport) and a range of products and services over converged fixed and mobile networks to consumer, business and public sector customers. For its global customers, BT provides managed services, security and network and IT infrastructure services to support their operations all over the world. BT consists of four customer-facing units: Consumer, Enterprise, Global and its wholly-owned subsidiary, Openreach, which provides access network services to over 650 communications provider customers who sell phone, broadband and Ethernet services to homes and businesses across the UK.

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Visa Completes Acquisition of Currencycloud

Visa Inc. | December 21, 2021

Visa announced it has completed the acquisition of Currencycloud, a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments. The acquisition will empower Visa and Currencycloud clients and partners to provide greater transparency, flexibility and control for consumers and businesses when making international payments or doing business in multiple currencies. The acquisition builds on an existing strategic partnership between Currencycloud and Visa. Currencycloud’s cloud-based platform already supports over 500 banking and technology clients with reach in over 180 countries and will continue to serve and support its customers and partners across the industry. About Visa Inc. Visa Inc. is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. About Currencycloud Banks, fintechs and businesses everywhere can make bigger, better, bolder leaps with Currencycloud. Currencycloud gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business – no matter what industry they’re in.

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Aconex delivers its platform using a cloud infrastructure and subscription model. Customers pay Aconex on a subscription basis for a license to use its cloud collaboration solutions across their projects. Aconex recognizes revenue evenly over the life of an engagement, which is on average around three years in length.

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