CLOUD APP DEVELOPMENT
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.
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.
Ursa Space | April 19, 2022
Ursa Space Systems, a global satellite intelligence infrastructure provider, today announced that Global Oil Storage and Auto Manufacturing Index datasets are available through Google Cloud's data exchange, Analytics Hub, which is now available in public preview. The offering will provide businesses seamless access to satellite-derived data via the Crux data integration platform.
"As external data becomes more critical to organizations across industries, the need for a unified experience between data integration and analytics has never been more important. We are proud to be working with Google Cloud to power the launch of Analytics Hub, feeding hundreds of pre-engineered data pipelines from hundreds of external datasets including Ursa Space," said Dan Lynn, SVP Product at Crux. "The sharing capabilities that Analytics Hub delivers will significantly enhance the data mobility requirements of practitioners, and the Crux data integration platform stands ready to quickly integrate any external data source and deliver on behalf of Google Cloud and its customers."
"We are persistently monitoring over 1,000 locations globally and extracting insights into prepared downloads available on a weekly basis" said Adam Maher, CEO and co-founder of Ursa Space. "By partnering with Crux and Google Cloud, we're able to provide these insights to customers in a way that allows them to hit the ground running instantaneously."
Customers can access these market specific data and insights in just a few clicks within Google BigQuery, which can then be easily embedded into users' analytics and machine learning workflows.
Access to data, like the satellite imagery provided by Ursa Space, is crucial to modern business. By bringing its satellite imagery data to Google Cloud Analytics Hub, Ursa Space is providing greater access and insight into its growing datasets for customers with BigQuery, ultimately helping power better business decisions."
Manvinder Singh, Director, Partnerships at Google Cloud.
CLOUD APP DEVELOPMENT
Cequence Security | January 28, 2022
Cequence Security, the industry leader in API security, announced a partnership with Tetrate, an enterprise service mesh company and Gartner 2021 Cool Vendor in Cloud Computing, to bake API discovery and security into modern cloud-native microservices applications. This new integration will extend the single pane of glass offered by Tetrate to include the discovery of APIs, detection of security risks and threats, and native inline protection against threats using the Cequence API Security Platform. This will give API development and SecOps teams centralized discovery, management and continuous monitoring of their multi-cluster, multi-cloud microservices deployments.
"End-to-end API security is very critical for customers. Envoy as the policy enforcement point enables decentralized enforcement of security policies in a consistent way for both external and internal application traffic. The integration between Tetrate and Cequence brings together for customers API discovery, risk analysis and bot detection with strong authentication and authorization of traffic."
Varun Talwar, CEO and Co-Founder of Tetrate
Service mesh plays a critical role in incorporating zero-trust design and DevSecOps principles by adding security and reliability to connect microservices across infrastructures without any additional code. Discovering all the API endpoints exposed by microservices and securing them is difficult due to the rapid pace of development and inherently distributed nature of these applications. This can lead to applications being published for external usage without sufficient discovery, security or monitoring for security and operations teams.
Tetrate and Cequence Security’s integration reduces the time and complexity in adding discovery, security and monitoring to cloud-native applications and enables security that can scale with the application using the same underlying orchestration layer.
“Service mesh architecture is getting very popular with enterprise customers. We’re excited to partner with many of the founding engineers for the Istio service mesh because they best understand the security challenges in these environments,” said Larry Link, President and CEO of Cequence Security. “Cequence has a long history of meeting the application security needs of organizations by using leading edge technologies like containers and service meshes, and we’re thrilled to be partnering with Tetrate to take that commitment to the next level.”
About Cequence Security
Organizations trust Cequence Security to protect their APIs and web applications with the most effective and adaptive defense against online fraud, business logic attacks, exploits and unintended data leakage; which enables them to remain resilient in today’s ever-changing business and threat landscape. Cequence is the only API Security Platform offering that unifies API discovery, inventory tracking, risk analysis and remediation with proven, real-time threat protection against ever evolving online attacks.
Started by Istio founders to reimagine application networking, Tetrate is an enterprise service mesh company managing the complexity of modern, hybrid cloud application infrastructure. Its flagship product, Tetrate Service Bridge, provides an edge-to-workload application connectivity platform to deliver business continuity, agility, and security for enterprises on the journey from traditional monoliths to the cloud. Customers get consistent, baked-in observability, runtime security and traffic management in any environment. Tetrate remains a top contributor to the open-source projects Istio and Envoy Proxy.
CLOUD APP DEVELOPMENT
QAD Inc. | January 11, 2022
QAD Inc., a leading provider of next-generation manufacturing and supply chain solutions in the cloud, announced it has added MothersonSumi INfotech & Designs Limited (MIND) as part of its growing global partner ecosystem. MIND is part of the technology and industrial solutions division of Motherson Group. Under the terms of the partnership, MIND will sell, implement and support the QAD Adaptive Applications portfolio of cloud solutions, including QAD Adaptive ERP, in the APAC and EMEA geographic regions.
"MIND has been implementing and supporting QAD solutions at many of Motherson Group companies worldwide and as a result has gained deep knowledge and expertise in QAD. This proven success will be extremely valuable for our current and future customers. Expanding this relationship further, combined with its manufacturing knowledge and know-how, would allow MIND to bring solutions that support digital transformation. We will leverage their experience with our solutions to help manufacturers build value with QAD Adaptive ERP in the cloud.”
QAD Vice President, Global Partner Strategy and Management Mohan Ponnudurai
"We are happy to be partnering with QAD as one of their trusted partners in the APAC and EMEA regions," said MIND CEO Rajesh Thakur. "We believe that our two-decade long experience of providing IT services to Motherson Group and proven success in the regions will help accelerate the deliverance of QAD's comprehensive portfolio of agile, cloud-based ERP solutions to our customers."
QAD partners expand the QAD ecosystem and strengthen its strategic position in the industries that it serves. QAD and its partners continuously evolve, broadening QAD's expertise and footprint to meet the diverse needs of customers around the world. The QAD Global Partner Network includes over 100 partners including technology, software, channel and consulting partners.
About QAD – Enabling the Adaptive Manufacturing Enterprise
QAD Inc. is a leading provider of next-generation manufacturing and supply chain solutions in the cloud. Global manufacturers face ever-increasing disruption caused by technology-driven innovation and changing consumer preferences. In order to survive and thrive, manufacturers must be able to innovate and change business models at unprecedented rates of speed. QAD calls these companies Adaptive Manufacturing Enterprises. QAD solutions help customers in the automotive, life sciences, consumer products, food and beverage, high tech and industrial manufacturing industries rapidly adapt to change and innovate for competitive advantage.
Founded in 1979 and headquartered in Santa Barbara, California, QAD has 30 offices globally. Over 2,000 manufacturing companies have deployed QAD solutions, including enterprise resource planning (ERP), digital supply chain planning (DSCP), global trade and transportation execution (GTTE), quality management system (QMS) and strategic sourcing and supplier management, to become an Adaptive Manufacturing Enterprise.
"QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.
About MothersonSumi INfotech & Designs Limited (MIND)
Founded in 2000, MothersonSumi INfotech & Designs Limited (MIND) is a joint venture between Motherson Group, India and Sumitomo Wiring Systems Ltd, Japan (SWS). We are a trusted technology partner to over 200+ clients globally across 41+ Global locations and have more than 20 years of experience in the areas of cloud, IoT, analytics, data science, smart ERP, infra managed services, and application development & maintenance services. We continue to deliver innovative and meaningful technology solutions to businesses enabling them to outpace the competition.