This year at the continuityhall techcrunch, a number of new products have been introduced, Snap Idfa Idfagrahamcnbc. Some of the products include Brex, Segment and YC. These are some of the most exciting releases so far.
In April, fintech Brex announced a new strategy. The company will now focus on enterprise software, rather than small-medium businesses. It will also lay off 11% of its staff. This move came in response to investors’ demands for higher profits.
Brex is a venture-backed financial company. Originally, it focused on providing corporate cards for startups. As the startup community evolved, Brex began to serve SMBs. But this market segment has become increasingly competitive.
After months of restructuring, Brex decided to lay off 136 employees, mostly focused on serving those groups. All employees affected were allowed to keep their computers and eight weeks of pay.
In August, Brex acquired a company called Weav, which developed a universal API for commerce platforms. The Brex card is designed for startups, which qualify based on funding.
Brex has recently partnered with AngelList and Y Combinator. Now it’s getting closer to becoming a SaaS company. That’s in addition to its venture capital financing, which includes investors like former Visa CEO Carl Pascarella and Yuri Milner.
Since last year, Brex has raised $1.2 billion in equity and debt funding. Brex is expected to grow significantly in the future. At the beginning of the year, it was valued at $7.4 billion, but that was down from its $12.3 billion valuation at the end of February.
Segment, a San Francisco based company has snagged $27 million in series B funding. They were also on the radar of investors like Accel Partners and Kleiner Perkins Cauley & Byers. This is a significant number for an upstart in a crowded space. Their aforementioned resemblance is not to be underestimated, as is their ability to grow. The startup has an impressive 4,000 active customers, and they’ve added more than 30 in the last few months. For now, they’re still putting the hammer to the task of making their users happy. The good news is, they’re not going anywhere anytime soon. Despite the ominous shortfalls, a streamlined operation should result in greater productivity and a happier customer base. A unified platform is only going to help.
YC, er, Y Combinator, has done it again with a whopping $46 million Series B round that has been led by a triumvirate of TrueBridge Capital Partners, Willett Advisors, and Silicon Valley’s finest – aka, YC’s newest grads. While the round itself may not have been the most exciting – the new grads are still a long way from being a household name – it was still a good time for those involved. Aside from the usual suspects, the big dogs include big-n, which is rumored to have provided the company with a cool $20 million to fuel its growth into the consumer technology sector. The round also features a slew of startups from a slew of countries including Africa. YC’s biggest draw is the quality of its alumni – which includes a slew of notable names like the aforementioned Silicon Valley’s best and brightest, as well as a gaggle of techies from other corners of the globe, like Australia’s finest.
Aside from the requisite six months of sweat equity, the perks of a YC grad include access to an impressively sized network of contacts and a hefty stipend. In return for their services, startups are subjected to a rigorous curriculum of sorts, from pitching to seasoned entrepreneurs to navigating the murky waters of VC syndication. On top of that, startups can expect a healthy dose of good ol’ fashioned marketing oomph in the form of a dedicated account manager armed with a database of user-generated leads and the latest buzz.