Smartsheet exceeded expectations for the second fiscal quarter, reporting revenue of $ 131.7 million, up 44% year over year, and non-GAAP loss of $ 5.2 million compared to 7.4 million U.S. dollar. The company’s annual recurring revenue topped $ 500 million for the first time as it rides tailwind from accelerating software adoption amid the … Read more
Seattle-based Avalara is getting a big cash injection as its business continues to benefit from the e-commerce boom and increasing regulatory obligations. Avalara said last week that it added $ 959.9 million to its cash balance after issuing short-term debt in the form of convertible senior notes. The money will be used to support the … Read more
Seena Mortzavi, CEO of Chronus. (Chronus photo) Chronus, the Bellevue, Washington-based maker of mentoring software, announced on Wednesday a new $ 78 million funding. Chronus offers digital tools that support companies in implementing employee development programs for mentoring and coaching. The strong new investment comes from Level Equity from New York and San Francisco. Demand … Read more
Michel Fester, Usermind CEO. (GeekWire Photo / Kevin Lisota) Experience management software giant Qualtrics has acquired Usermind, a Seattle-based marketing startup that helps companies attract, retain, and serve customers. Usermind was founded in 2013 and is a leader in the “Journey Orchestration” market, which includes companies that support customers in the analysis of customer relationships … Read more
(Big picture) Most of us have had the experience of sending a text message or email that sounded insensitive or angry when we did not intend to do so. Unfortunately, the lack of social cues in such messages makes it much easier to be misinterpreted. Depending on the communication, this can lead to misunderstandings, hurt … Read more
Modern co-founders Olga Kundzich and Jonathan Schneider. (Modern Photos) New funding: Moderne received $ 4.7 million for its software that helps developers save time by automating code migrations and fixes. The Seattle-based company was founded by Olga Kundzich and Jonathan Schneider, former colleagues at Pivotal Software, which was acquired by VMware in 2019. The technique: … Read more
Scale co-founder and CEO Alex Wang joined us this week at TechCrunch Sessions: Mobility 2021 to discuss his company’s role in the autonomous driving industry and how it has changed in the five years since its inception. Scale is helping AV players large and small alike establish reliable ground truth through data annotation and management, … Read more
Two years ago, reports revealed that Amazon was making facial recognition software available for use by law enforcement agencies, despite questions about bias, privacy, and potentially life-destroying errors that could arise from it. A year ago Amazon announced a year-long moratorium on the use of its Rekognition platform, and now Reuters reports that Amazon has … Read more
When Xuezhao Lan founded Basis Set Ventures, the goal was to use the technology to enable venture capital investments. From the earliest days when Lan hired former TechCrunch reporter John Mannes and then built the team with data scientist Rachel Wong, former Upfront Ventures partner Chang Xu, and former Vice President of Growth Sheila Vashee, … Read more
Welcome back to The TechCrunch Exchange, a weekly newsletter for startups and markets. It’s based largely on the daily column that appears on Extra Crunch, but it’s free and made for your weekend reading. Would you like it in your inbox every Saturday morning? Login here. Ready? Let’s talk about money, startups and hot IPO … Read more