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Many founders only know their own experience fundraising and don’t hear much about what other founders went through. On Extra Crunch Live today, we’re going to remedy that.
Grafana Labs has raised upward of $75 million since it launched in 2014. Lightspeed Venture Partners, and partner Gaurav Gupta to be specific, led both the startup’s Series A and Series B rounds. As far as commitments go, that’s a pretty significant one.
The new and improved Extra Crunch Live pairs founders and the investors who led their earlier rounds to talk about how the deal went down, from the moment they met to the conversations they had (including some disagreements) to the relationship as it exists today. Hell, we may even take a peek at the original pitch deck that made it all happen.
Then, we’ll turn our eyes back to you, the audience. That same founder/investor duo (in this case, Grafana Labs CEO Raj Dutt and LVP’s Gaurav Gupta) will take a look at your pitch decks and give their own feedback. (If you haven’t yet submitted a pitch deck to be torn down on Extra Crunch Live, you can do so here.)
The hour-long episode is sandwiched between two 30-minute rounds of networking. From start to finish, it goes from 11:30 a.m. PST/2:30 p.m. EST to 1:30 p.m. PST/4:30 p.m. EST. And Extra Crunch Live will come to you at the same time, every week, with a new pair of speakers.
So let’s learn a little bit more about Gupta and Dutt.
Before becoming an investor, Gupta enjoyed a rich career in the product development sphere, holding positions at Elastic (where he led product management), Splunk (VP of Products), as well as Google, Gateway and the McKenna Group. He joined Lightspeed in 2019 as a partner, focusing primarily on enterprise software. He’s led investments in Impira, Blameless, Hasura and Panther, and of course, Grafana. He sits on the board of the last three companies in that list.
Dutt is the co-founder and CEO at Grafana Labs, but the fast-growing company isn’t his first go at entrepreneurialism. Dutt also founded and led Voxel, a cloud-hosting startup that was acquired by Internap for $30 million in 2012.
We’re absolutely thrilled to have Gupta and Dutt join us on our first episode of Extra Crunch Live in 2021. As a reminder, Extra Crunch Live is for Extra Crunch members only. We’re coming to you with a new pair of speakers every week, and you can catch everything you missed on-demand if you can’t join us live. It’s worth the cost of the subscription on its own, but EC members also get access to our premium content, including market maps and investor surveys. Long story short? Subscribe, smarty. You won’t regret it.
Oh, and here’s a look at other speakers you can expect to see on Extra Crunch Live:
Aydin Senkut (Felicis) + Kevin Busque (Guideline) — February 10
Steve Loughlin (Accel) + Jason Boehmig (Ironclad) — February 17
Matt Harris (Bain Capital Ventures) + Isaac Oates (Justworks) — February 24
And that’s just the February slate!
All the details to register for this upcoming episode (and more) are available below. Can’t wait to see you there!
Making and keeping the web accessible is a full-time job, and like any other development role, accessibility tools need to evolve to keep up with the times. Evinced is a startup that promises both richer and faster checks of websites in production or in progress, and it just raised $17M to take its tools to the next level.
Because accessibility problems can happy in so many ways, it often takes a lot of manual code review to catch the errors. Even a team thinking about making their site fully accessible from the start — which should be everyone — can miss that this script doesn’t hook into that variable right if this menu is opened, and so on.
There’s automated code review, but it can be slow and bulky. Evinced is making a powerful, streamlined tool that checks a website in a fraction of a second while you’re using it, presenting the problems in a way that’s easy for devs to share and address. It also doesn’t trip up on the fancy, javascript-heavy web apps that millions use today.
Here’s an example of a modern website that looks fine but is obviously (for demo purposes) riddled with accessibility issues. The video gives a good breakdown of what this part of the Evinced product does:
Honestly, that’s how it feels like it ought to look, but existing enterprise-level tools probably aren’t quite so efficient. And as you can see, the tool responds instantly while the user (that is to say, the developer) proceeds through the various actions the site enables. It could be, after all, that auditing the site before anyone fills in a form or pulls down any menus could give a misleading green light.
The inspector also brings in a bit of AI in the form of smart rules and computer vision, so if an element looks like a menu or button but isn’t labeled correctly, it isn’t fooled. Those elements do have distinct styles and roles: if something can be clicked and turns into a list that the user chooses from, well, it’s a pulldown menu whether it’s called that or not.
Image Credits: Evinced
Naturally there are also quick fixes suggested and the ability to easily export the issues for formal inspection by the boss, as well as other expected features for a web development tool. It’s available as a Chrome extension, or as an API or automated part of other analysis or commit actions, throwing its list of errors in with the rest.
The company formed back in 2018, when they started development. The next year they hooked up with a few large enterprises to see about integrating and testing within their ecosystems. Capitol One became their biggest customer and is now an investor.
“We have since deployed our products in production at Capital One (means they are used every day – and power their end-to-end accessibility operations – see the Capital One blog) and others. These are paying customers that have an enterprise license,” said Founder and CEO, Navin Thandani.
Indeed, as Capitol One explains:
Capital One partnered with Evinced early, to guide their development with a particular focus on: helping developers release accessible code integrating multiple automated testing steps through the build and deployment lifecycle building products that can automatically scan for accessibility across a full web property (including through logins and internal repositories), and do this fast.
Capital One partnered with Evinced early, to guide their development with a particular focus on: helping developers release accessible code integrating multiple automated testing steps through the build and deployment lifecycle building products that can automatically scan for accessibility across a full web property (including through logins and internal repositories), and do this fast.
We’ve seen Evinced discover as much as 10x more critical accessibility issues than we were previously finding through automated testing alone. An even greater number of issues are discovered when a site is more interactive, including keyboard and screen reader usability issues.
Automated testing on a large enterprise scale can be an extremely complex and time consuming effort. Evinced is speedy and reliable, with 40x faster execution, enabling us to cut our processing time in some cases from 4-5 days down to less than 3 hours (and is being further optimized).
Glowing words, even if they are from an investor (technically Capital One Ventures, but still).
The company’s $17M series A was co-led by M12 BGV, and Capital One Ventures and included previous investors Engineering Capital.
As a sort of debut celebration present, Evinced is announcing its free tiers of service, including an iOS app accessibility debugger, which should be helpful to all the folks making apps who don’t know a thing about WCAG guidelines and ARIA roles. There’s also a free “community edition” site scanner that admins can sign up to be approved for, and a free trial for enterprises that want to give it a shot.
Source: https://techcrunch.com/2021/02/03/evinced-raises-17m-to-speed-up-accessibility-testing-for-the-web/
Amazon has started making deliveries to customers in Los Angeles using electric vans designed and built by Rivian.
The electric vans, which are part of Amazon’s 2040 climate pledge, won’t go into series production until the end of the year, according to an update Wednesday by the company. Amazon declined to reveal how many electric vans were in the test fleet.
The customer deliveries are part of continuous testing being conducted by Amazon and Rivian to measure performance as well as safety durability in various climates and geographies. Road tests first started more than four months ago. The current fleet of vehicles was built at Rivian’s headquarters in Plymouth, Michigan and can drive up to 150 miles on a single charge. Rivian engineers will continue to refine the vehicles for the start of production at its Normal, Illinois factory.
Image Credits: Amazon
In the meantime, these electric vehicles will continue to pop up on delivery routes in up to 15 additional cities in 2021. Eventually, Amazon plans to deploy at least 100,000 electric vans — the size of its order with Rivian — over the next several years.
Amazon and Rivian began testing vehicles four months prior to making customer deliveries, as part of the testing and development process. Amazon is also starting to modify its buildings to accommodate the new fleet of vehicles and has installed thousands of electric vehicle charging stations at its delivery stations across North America and Europe, the company said.
“We’re loving the enthusiasm from customers so far–from the photos we see online to the car fans who stop our drivers for a first-hand look at the vehicle,” Ross Rachey, director of Amazon’s global Fleet and products, said in a statement. “From what we’ve seen, this is one of the fastest modern commercial electrification programs, and we’re incredibly proud of that.”
The exterior of Rivian-built electric vans share some the same design features found in today’s gas-powered versions. There are a few more rounded edges and an overall sleeker look to the electric vans.
The real difference is in the electric architecture and the custom features that have been integrated into the vans, including, highway driving and traffic assist features; exterior cameras that can provide a 360-degree view for the driver via a digital display, a larger interior floor space in the cabin to help with drivers getting to and from the cabin compartment, surround tail lights for better braking visibility and three-level shelving and a bulkhead cargo compartment separating door. Amazon’s Alexa voice assistant is also an embedded feature.
Scratchpad is an early stage startup that wants to make it easier for sales people to get information into Salesforce by placing a notation layer on top of it. Today, it announced a $13 million Series A led by Craft Ventures with participation from Accel.
The company has now raised a total of $16.6 million including the $3.6 million seed round we covered in October. Co-founder and CEO Pouyan Salehi says that he wasn’t really looking to add capital, but the investors understood his vision and the money will help accelerate the product roadmap.
“To be honest, it actually wasn’t on our radar to raise again so soon after we raised what I consider a substantial seed. We had plenty of runway, but we started to see a lot of bottom-up user growth, this bottom-up motion just really started to take hold,” Salehi told me.
He says that lead investor David Sacks, who has built some successful startups himself, really got what they were trying to do, and the deal came together fairly easily. In fact, the company caught the attention of Craft because they were hearing about Scratchpad from their portfolio companies.
The bottoms up approach is certainly something we have seen with developer tools and with software for knowledge workers, but companies often take aim at sales through the sales manager, rather than trying directly to get salespeople to use a particular tool. This approach of getting the end users involved early allows them to gain traction with members of the sales team before approaching management about paid versions.
Traditionally, sales teams don’t like the tools that are thrust upon them. They are essentially databases and even with a visual interface, it doesn’t really match up with the way they work. Scratchpad gives them an interface like a spreadsheet or notes application that they are typically using to hack together a workflow, but with a direct connection to Salesforce.
What the paid tiers provide is a way to bring all this data together and get a bigger picture view of what’s happening on the sales team, and it helps ensure that people are using Salesforce because the data in Scratchpad links to the Salesforce database automatically.
The company has completed the initial work of building the individual salesperson’s workspace, but the next phase, and part of what this capital is going to fund, is building the team workspace and seeing how this data can flow from individuals to a team view to give management more insight into what their individual reps are doing. This includes notes, which usually don’t make it into Salesforce, but provide a lot of context about interactions with customers.
It’s resonating with thousands of users (although Salehi didn’t want to share an exact customer number just yet). Customers include Autodesk, Brex, Lacework, Snowflake and Twilio.
Sacks says that he liked the viral way the product has been spreading. “Once a rep starts using Scratchpad, two things tend to happen: it becomes a daily habit, and they share it with their teammates. This phenomena of viral spread is rare and indicates a very strong product-market fit,” he said in a statement.
Source: https://techcrunch.com/2021/02/03/scratchpad-snags-13m-series-a-to-simplify-salesforce-data-entry/
Training AIs is essential to today’s tech sector, but handling the amount of data needed to do so is intrinsically dangerous. DARPA hopes to change that by tapping the encryption experts at Duality to create a hardware-accelerated method of using large quantities of data without decrypting it — a $14.5 million contract.
Duality specializes in what’s called fully homomorphic encryption. Without descending into the technical details, the main issue with everyday encryption methods — though it’s also sort of the point of them — is that they render the encrypted data totally unreadable, essentially noise unless you have the key to reverse the process. Doing that is computationally expensive with large datasets, and of course once the data is in the clear, it’s vulnerable to hackers, abuse, and other dangers.
There are methods, however, of encrypting data such that it can be analyzed and manipulated without decrypting it, and one of those is fully homomorphic encryption. Unfortunately FHE is even more computationally intense than ordinary encryption, ruling it out for applications where gigabytes or terabytes of data are called for. There are other methods of accomplishing the same ends but no one would cry if FHE suddenly became ten times easier.
DARPA is as interested as anyone else in this field, though it has considerably deeper pockets than your garden variety encryption wonk. This contract is part of a broader effort called DPRIVE, or Data Protection in Virtual Environments, and the stated goal is to develop a special purpose chip — an ASIC pre-assigned the code name TREBUCHET — to accelerate FHE by, hopefully, an order of magnitude or more.
The Duality team will bring in experts from USC, NYU, CMU, SpiralGen, Drexel University, and TwoSix Labs. The company has been in the game for a long time and has actually worked with DARPA before, so this is not new territory for them.
“Duality team members have been supporting DARPA-funded innovation and application of FHE for over a decade. Some members of our team developed the first ever prototype HE hardware accelerators under the DARPA PROCEED program starting in 2010 and are lead developers for the PALISADE open source FHE library, first developed for the DARPA SAFEWARE program in 2015,” said Duality Labs director and principal investigator for the contract, David Bruce Cousins, in a press release.
As you can see, they’re not short on acronyms either.
It’s not totally clear what the timeline is on this, but considering the state of the technologies involved I wouldn’t expect results before at least two or three years from now.
