Peltarion, a Swedish startup founded by former execs from companies like Spotify, Skype, King, TrueCaller and Google, today announced that it has raised a $20 million Series A funding round led by Euclidean Capital, the family office for hedge fund billionaire James Simons. Previous investors FAM and EQT Ventures also participated, and this round brings […]
Peltarion, a Swedish startup founded by former execs from companies like Spotify, Skype, King, TrueCaller and Google, today announced that it has raised a $20 million Series A funding round led by Euclidean Capital, the family office for hedge fund billionaire James Simons. Previous investors FAM and EQT Ventures also participated, and this round brings the company’s total funding to $35 million.
There is obviously no dearth of AI platforms these days. Peltarion focus on what it calls “operational AI.” The service offers an end-to-end platform that lets you do everything from pre-processing your data to building models and putting them into production. All of this runs in the cloud and developers get access to a graphical user interface for building and testing their models. All of this, the company stresses, ensures that Peltarion’s users don’t have to deal with any of the low-level hardware or software and can instead focus on building their models.
“The speed at which AI systems can be built and deployed on the operational platform is orders of magnitude faster compared to the industry standard tools such as TensorFlow and require far fewer people and decreases the level of technical expertise needed,” Luka Crnkovic-Friis, of Peltarion’s CEO and co-founder, tells me. “All this results in more organizations being able to operationalize AI and focusing on solving problems and creating change.”
In a world where businesses have a plethora of choices, though, why use Peltarion over more established players? “Almost all of our clients are worried about lock-in to any single cloud provider,” Crnkovic-Friis said. “They tend to be fine using storage and compute as they are relatively similar across all the providers and moving to another cloud provider is possible. Equally, they are very wary of the higher-level services that AWS, GCP, Azure, and others provide as it means a complete lock-in.”
Peltarion, of course, argues that its platform doesn’t lock in its users and that other platforms take far more AI expertise to produce commercially viable AI services. The company rightly notes that, outside of the tech giants, most companies still struggle with how to use AI at scale. “They are stuck on the starting blocks, held back by two primary barriers to progress: immature patchwork technology and skills shortage,” said Crnkovic-Friis.
The company will use the new funding to expand its development team and its teams working with its community and partners. It’ll also use the new funding for growth initiatives in the U.S. and other markets.
Social game developer Zynga will initially acquire 80 percent of Small Giant Games for $560 million.
Social game developer Zynga has entered into an agreement to acquire Small Giant Games, the startup behind the popular mobile game Empires & Puzzles, in a deal expected to total $700 million.
Zynga, which has tumbled since its 2011 Nasdaq initial public offering, will initially acquire 80 percent of Small Giant Games for $560 million, composed of $330 million in cash and $230 million of unregistered Zynga common stock. Zynga will fund part of the transaction with a $200 million credit facility.
“We’ve been impressed by the quality and momentum of Empires & Puzzles as we add another Forever Franchise into Zynga’s portfolio,” Zynga chief executive officer Frank Gibeau said in a statement. “Small Giant has created an innovative game that delivers a unique player experience that engages over the long term.”
The deal is expected to close on January 1. Zynga will purchase the remaining 20 percent of Small Giant over the next three years “at valuations based on specified profitability goals.”
Helsinki-based Small Giant Games had raised $52 million in equity funding from EQT Ventures, Creandum, Spintop Ventures, Profounders and others since it was founded in 2013. The company reported $33 million of revenue for Empires & Puzzles, its most popular game, 10 months after its launch in 2017. Small Giant, which is also behind Alliance Wars and Season 2: Atlantis, says they exceeded 2017’s revenue just four months into 2018.
“Our studio was founded on the idea that small, skillful teams can accomplish giant things, and I am confident that partnering with Zynga is the right next step in our evolution,” Small Giant CEO Timo Soininen said in a statement. “We will now operate as a separate studio within Zynga, maintaining our identity, culture and creative independence. By leveraging the expertise and support from the wider Zynga team, we will amplify the reach of Empires & Puzzles and the new games in our development pipeline.”
Zynga, founded in 2007, is the developer of FarmVille, Zynga Poker, Words with Friends and several other mobile games. The company reported revenues of $248.88 million for the quarter ended September 2018, failing to meet analyst estimates.
Zynga expects to bring in $243 million in revenue in the fourth quarter of 2018.
HeadSpin has raised $20 million from GV, ICONIQ Capital, Battery Ventures and more.
HeadSpin has closed a $20 million Series B, valuing the provider of mobile application performance software at $500 million. New investors ICONIQ Capital, Battery Ventures and EQT Ventures participated in the funding round, as well as existing backers GV, Telstra Ventures, Danhua Capital, Nexus Ventures Partners and NextWorld Capital.
The company emerged from stealth last year with Manish Lachwani at the helm. Lachwani was the former principal architect of the Amazon Kindle, chief technology officer of mobile gaming company Zynga and co-founder and chief technology officer of Google-acquired Appurify, which helped developers automate testing and optimization of their mobile apps and websites.
He’s been in the application performance management business for a long time; under his leadership, Palo Alto-based HeadSpin has quickly grown into one of the fastest growing, though relatively unknown, startups in Silicon Valley.
“What HeadSpin has been able to achieve in its first three years is remarkable, and it has
already attracted dozens of major clients across the mobile ecosystem,” ICONIQ partner Will Griffith said. “The company is quickly becoming the new standard of record for all mobile ecosystem players going forward. It’s one of the fastest-scaling software companies we’ve seen.”
HeadSpin works with Tinder, DocuSign and some 200 other app providers, allowing the companies to test and monitor their apps in real-time and on real devices before, during and after an app is released. The AI-enabled platform gives developers the ability to experience their app just as any regular user would and highlights high priority issues so companies can quickly resolve customer’s problems at scale.
Founded in 2015, HeadSpin says it expects to double revenue in 2018 but did not disclose any financial metrics.
Chief technology officer Brien Colwell is the other half of the company’s founding team. Colwell is the founder and former CEO of Nextop.io, a Y Combinator graduate and app optimization startup. Colwell and Lachwani are joined by HeadSpin’s head of product Sriram Krishnan, Tinder’s former head of international growth. Krishnan joined HeadSpin in January after working with HeadSpin’s toolset in his role at the app-based dating company.
“When I signed up for HeadSpin, I found out how phenomenal the product was,” Krishnan told TechCrunch .
“A lot of what we built was predicated on the fact that the mobile ecosystem is still very new,” he added. “If you think about the apps world, it’s only been around 10 years … It’s the Wild West out there when it comes to understanding performance.”
Consumer messaging apps like WhatsApp are not only insanely popular for chatting with friends but have pushed deep into the workplace too, thanks to the speed and convenience they offer. They have even crept into hospitals, as time-strapped doctors reach for a quick and easy way to collaborate over patient cases on the ward. Yet […]
Consumer messaging apps like WhatsApp are not only insanely popular for chatting with friends but have pushed deep into the workplace too, thanks to the speed and convenience they offer. They have even crept into hospitals, as time-strapped doctors reach for a quick and easy way to collaborate over patient cases on the ward.
Yet WhatsApp is not specifically designed with the safe sharing of highly sensitive medical information in mind. This is where Dutch startup Siilo has been carving a niche for itself for the past 2.5 years — via a free-at-the-point-of-use encrypted messaging app that’s intended for medical professions to securely collaborate on patient care, such as via in-app discussion groups and being able to securely store and share patient notes.
A business goal that could be buoyed by tighter EU regulations around handling personal data, say if hospital managers decide they need to address compliance risks around staff use of consumer messaging apps.
The app’s WhatsApp-style messaging interface will be instantly familiar to any smartphone user. But Siilo bakes in additional features for its target healthcare professional users, such as keeping photos, videos and files sent via the app siloed in an encrypted vault that’s entirely separate from any personal media also stored on the device.
Messages sent via Siilo are also automatically deleted after 30 days unless the user specifies a particular message should be retained. And the app does not make automated back-ups of users’ conversations.
Other doctor-friendly features include the ability to blur images (for patient privacy purposes); augment images with arrows for emphasis; and export threaded conversations to electronic health records.
There’s also mandatory security for accessing the app — with a requirement for either a PIN-code, fingerprint or facial recognition biometric to be used. While a remote wipe functionality to nix any locally stored data is baked into Siilo in the event of a device being lost or stolen.
Like WhatsApp, Siilo also uses end-to-end encryption — though in its case it says this is based on the opensource NaCl library
It also specifies that user messaging data is stored encrypted on European ISO-27001 certified servers — and deleted “as soon as we can”.
It also says it’s “possible” for its encryption code to be open to review on request.
Another addition is a user vetting layer to manually verify the medical professional users of its app are who they say they are.
Siilo says every user gets vetted. Though not prior to being able to use the messaging functions. But users that have passed verification unlock greater functionality — such as being able to search among other (verified) users to find peers or specialists to expand their professional network. Siilo says verification status is displayed on profiles.
“At Siilo, we coin this phenomenon ‘network medicine’, which is in contrast to the current old-fashioned, siloed medicine,” says CEO and co-founder Joost Bruggeman in a statement. “The goal is to improve patient care overall, and patients have a network of doctors providing input into their treatment.”
While Bruggeman brings the all-important medical background to the startup, another co-founder, Onno Bakker, has been in the mobile messaging game for a long time — having been one of the entrepreneurs behind the veteran web and mobile messaging platform, eBuddy.
A third co-founder, CFO Arvind Rao, tells us Siilo transplanted eBuddy’s messaging dev team — couching this ported in-house expertise as an advantage over some of the smaller rivals also chasing the healthcare messaging opportunity.
It is also of course having to compete technically with the very well-resourced and smoothly operating WhatsApp behemoth.
“Our main competitor is always WhatsApp,” Rao tells TechCrunch. “Obviously there are also other players trying to move in this space. TigerText is the largest in the US. In the UK we come across local players like Hospify and Forward.
“A major difference we have very experienced in-house dev team… The experience of this team has helped to build a messenger that really can compete in usability with WhatsApp that is reflected in our rapid adoption and usage numbers.”
“Having worked in the trenches as a surgery resident, I’ve experienced the challenges that healthcare professionals face firsthand,” adds Bruggeman. “With Siilo, we’re connecting all healthcare professionals to make them more efficient, enable them to share patient information securely and continue learning and share their knowledge. The directory of vetted healthcare professionals helps ensure they’re successful teamplayers within a wider healthcare network that takes care of the same patient.”
Siilo launched its app in May 2016 and has since grown to ~100,000 users, with more than 7.5 million messages currently being processed monthly and 6,000+ clinical chat groups active monthly.
“We haven’t come across any other secure messenger for healthcare in Europe with these figures in the App Store/Google Play rankings and therefore believe we are the largest in Europe,” adds Rao. “We have multiple large institutions across Western-Europe where doctors are using Siilo.”
On the security front, as well flagging the ISO 27001 certification the company has gained, he notes that it obtained “the highest NHS IG Toolkit level 3” — aka the now replaced system for organizations to self-assess their compliance with the UK’s National Health Service’s information governance processes, claiming “we haven’t seen [that] with any other messaging company”.
Siilo’s toolkit assessment was finalized at the end of Febuary 2018, and is valid for a year — so will be up for re-assessment under the replacement system (which was introduced this April) in Q1 2019. (Rao confirms they will be doing this “new (re-)assessment” at the end of the year.)
As well as being in active use in European hospitals such as St. George’s Hospital, London, and Charité Berlin, Germany, Siilo says its app has had some organic adoption by medical pros further afield — including among smaller home healthcare teams in California, and “entire transplantation teams” from Astana, Kazakhstan.
It also cites British Medical Journal research that found that of the 98.9% of U.K. hospital clinicians who now have smartphones, around a third are using consumer messaging apps in the clinical workplace. Persuading those healthcare workers to ditch WhatsApp at work is Siilo’s mission and challenge.
The team has just announced a €4.5 million (~$5.1M) seed to help it get onto the radar of more doctors. The round is led by EQT Ventures, with participation from existing investors. It says it will be using the funding to scale up its user base across Europe, with a particular focus on the UK and Germany.
Commenting on the funding in a statement, EQT Ventures’ Ashley Lundström, a venture lead and investment advisor at the VC firm, said: “The team was impressed with Siilo’s vision of creating a secure global network of healthcare professionals and the organic traction it has already achieved thanks to the team’s focus on building a product that’s easy to use. The healthcare industry has long been stuck using jurassic technologies and Siilo’s realtime messaging app can significantly improve efficiency
and patient care without putting patients’ data at risk.”
While the messaging app itself is free for healthcare professions to use, Siilo also offers a subscription service to monetize the freemium product.
This service, called Siilo Connect offers organisations and professional associations what it bills as “extensive management, administration, networking and software integration tools”, or just data regulation compliance services if they want the basic flavor of the paid tier.