SAP to Resell BigID data discovery and privacy products as solution extensions

BigID, a leader in data-centric personal data discovery and privacy, announced a global reseller agreement with SAP. Through this agreement, SAP can sell two BigID powered products under the names SAP Privacy Management application by BigID and SAP Data Mapping and Protection application by BigID. The agreement will enable businesses that use SAP solutions to more readily meet the challenges of data-centric data discovery and privacy by harnessing BigID’s advanced Machine Learning-based discovery and intelligence technology.

BigID is one of the industry’s first data privacy and intelligence platforms that allows customers to rely on actual data discovered across the enterprise and cloud rather than surveys and interviews to ensure privacy compliance.

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Talent Data Platform Plum Raises $4.2M to Prepare Organizations for the Future of Work

Plum company logo

 Plum, a software-as-a-service company that provides enterprise organizations with the data they need to quantify the potential of their workforce, announced today that it has raised $4.2M in seed funding. In combination with their previous Angel round, Plum has raised a total of $6.1M to date.

The $4.2M round was led by Real Ventures, a Venture Capitalist firm dedicated to future-focused startups that create new categories. “Over the next decade, people will need to be assigned and trained for new jobs on a scale that has never been seen,” said Janet Bannister, Partner at Real Ventures. “McKinsey claims that 400 to 800 million jobs will disappear due to automation in the next 15 years. At the same time, 85% of jobs that will exist in 2030 do not exist today.”

Bannister went on to say, “Plum is the only provider of scientifically-validated, predictive data that can scale to get every person in the right job for the future of work – which is why we believe that Plum is posed to not only be a huge company, but also make a significant, positive impact on millions of lives.”

Other investors include SAP.iO and BDC Capital’s Women in Technology Venture Fund. Plum’s app integrates with SAP® SuccessFactors® Recruiting, which is a part of the human capital management suite.

“An employee’s success in a role depends not only on an employee’s hard skills but also their intangible characteristics,” said Dr. Ram Jambunathan, SVP & Managing Director of SAP.iO. “But today, businesses still rely on traditional measures and assessments that are often prone to subjective biases. The SAP.iO Fund invested in Plum so our customers could build the full picture of their employee’s capabilities. Through Plum’s integration with SAP® SuccessFactors®, businesses can now drive the complete talent management experience that employees want and need for long-term success.”

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BigID Launches Momentum Value Added Reseller Partner Program to Expand Reach Globally

BigID, the leader in data-centric personal data privacy and protection, today announced the BigID Momentum Value Added Reseller (VAR) Program. The program enables resellers to easily add BigID’s data discovery, intelligence and privacy automation products to their portfolio to capture new revenue streams as companies comply with global privacy regulations like California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR). The BigID VAR program will enhance the company’s market presence globally, accelerating sales growth in critical territories like Europe, Latin America and Asia-Pacific.

Inaugural VAR partners include Optiv, SHI, Navilogic, NextID, GDM Sweden, Optimitri Mexico and Dunlap, Bennett & Ludwig.

BigID will support VARs with a full enablement kit, facilitated by a dedicated portal. VARs will gain immediate access to deal registration program, training, sales management tools, and joint marketing program support for webinars, events, and related activities and collateral.

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Predicting Job Success and Preparing Enterprises for the Future of Work

Plum company logo

Everywhere I turn, I hear concerns about technology and workforce automation causing job losses. For employers, however, it seems that the real worry lies not in eliminating but retaining their workforce.

How can they prepare their existing talent pool – and their organizations – to thrive in the new economy? How can they deal with the impending mass migration of jobs toward those requiring new skills?

Those are the fundamental questions that emerged from my discussion with Emily Lambert, Content Marketing specialist at Plum, Inc. Plum offers a solution, also called Plum, that is now available on SAP App Center. It uses the precepts of industrial and organizational psychology combined with – you guessed it – artificial intelligence (AI) to help organizations hire, grow, and retain top talent.

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Inside SaaS: 7 key dimensions that matter for a well oiled SaaS machine(& how to harness 21 areas and monitor +60 SaaS metrics)

The past few years have seen incredible innovation and execution take place and taken many companies to horizons never imagined before. Yet these SaaS businesses require a specific structure and well oiled parts to function well. Any large organization like SAP, which has sustained the years and grown its revenue base, recognizes that a few right mechanisms can be key to achieve fast growth and long term sustainability.

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BigID Raises $50 Million to help businesses comply with privacy regulations

BigID, an Israeli-American startup helping enterprises with data protection and privacy, announced the closure of a Series C funding round of $50 million led by Bessemer Venture Partners, with participation from existing investors SAP.io Fund, Comcast Ventures, Boldstart Ventures, Scale Venture Partners and ClearSky, as well as new investor, Salesforce Ventures. BigID is based in New York with offices in Tel Aviv. The company said it will use the funds to meet the growing demand for its technology, expand global sales and introduce new products for data privacy, data governance and protection.

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Cracking the code: From startup to scale up in enterprise software

Panel of speakers at Tech Crunch

By Ram Jambunathan

The startup journey is hard. An estimated 75% of venture-backed companies never return cash to investors; only 1% go on to become unicorns. Startup success requires brutally efficient execution and a bit of luck. My own experience as a startup founder attests to this. When we started T-Networks (now a part of Broadcom), we had to build our own semiconductor fab and packaging facility, while at the same time competing with deep-pocketed, well-established multinationals. A “pivot” in those days, should we decide we needed to change in tack (e.g., different product in different segment), was going to be a fairly difficult (if not impossible) road to travel. So, I have to say I’m excited (and perhaps even a little envious) when I see the opportunities entrepreneurs have today — to build, test, refine, and even pivot — now that the need to construct the infrastructure required to develop the actual product is removed.

Of course, there are still challenges. In enterprise software, it also requires industry expertise, access to strong networks, and an ability to reach customers — all of which pose significant barriers to many entrepreneurs who aspire to transform industries. This is where a strategic partner like SAP can help early-stage startups scale the barriers to success.

The SAP.iO Fund and SAP.iO Foundries invest in and accelerate early-stage startups at the leading edge of B2B software innovation, who leverage a combination of emerging technologies like AI or IoT, business process expertise, and new business models. We realize that agile, early-stage startups complementary to SAP can expand and enhance the SAP ecosystem and solutions, giving our customers access to relevant, cutting-edge solutions. While SAP can help startups target customer needs, connect to SAP systems, and access SAPs broad customer base.

A key challenge many startups have after finding product-market fit is scaling. This can require significant investment, especially on the customer acquisition side — from marketing to sales to customer success. But what if the right partner could help to identify and prioritize high-value prospects, make those introductions, and then even help to drive the sales process? This is the type of startup partner SAP and SAP.iO strives to be — even for early-stage startups.

Startups that SAP.iO supports receive strong and unprecedented exposure to our field and customers. We have dedicated resources on the SAP.iO team that ensure SAP.iO startups get visibility and interest from internal account teams, customers, and partners. For example, during the first half of 2019 alone, at least 150 major customers visited SAP.iO Foundries in NA and Europe to meet with the startups SAP.iO is supporting.

In particular, on the go-to-market side, startups ask about the tactical ways that SAP typically partners with startups, where the field is provided incentives to position and / or sell a startup partner’s solution. In my session today at Techcrunch Enterprise 2019, I shared the stage with 3 SAP.iO Fund startups — BigID, Medal, and Plum — who discussed the various ways they work with SAP to scale sales and deliver value to customers:

  1. CO-SELL — in this model, startups get exposure to the SAP customer base via the SAP AppCenter. SAP customers can discover, try, and buy startup solutions. Customers transact through the SAP AppCenter, on the startup partners’ contract paper. Select partners may have special pipeline generation activities supported by an SAP Business Unit.
  2. RE-SELL — in this model, startup partner solutions can be sold via the SAP Solution Extension program, where the solution is sold by the field on SAP contract paper and is also supported by dedicated partner management. This is generally reserved for more mature startups.
  3. OEM (INBOUND) — in this model, the startup solution is embedded into an SAP solution. SAP then sells the combined offering on SAP paper, with the startup receiving a license fee from SAP for using their IP.

By leveraging these types of partnerships, startups can dramatically expand their reach, pipeline, and ability to deliver value to SAP customers. It’s important to note that startups dramatically increase success working with a channel partner if they already have a successful, scalable, repeatable sales formula (or process) that they can teach to the partner. Contrary to popular startup mythology, early-stage startups can have success cracking the code with large enterprise partners — SAP.iO is proof of this.

Cracking the code: From startup to scale up in enterprise software

By Ram Jambunathan

The startup journey is hard. An estimated 75% of venture-backed companies never return cash to investors; only 1% go on to become unicorns. Startup success requires brutally efficient execution and a bit of luck. My own experience as a startup founder attests to this. When we started T-Networks (now a part of Broadcom), we had to build our own semiconductor fab and packaging facility, while at the same time competing with deep-pocketed, well-established multinationals. A “pivot” in those days, should we decide we needed to change in tack (e.g., different product in different segment), was going to be a fairly difficult (if not impossible) road to travel. So, I have to say I’m excited (and perhaps even a little envious) when I see the opportunities entrepreneurs have today — to build, test, refine, and even pivot — now that the need to construct the infrastructure required to develop the actual product is removed.

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BigID Raises $50M in Series C Funding

BigID's company logo

BigID, a NYC- and Tel Aviv, Israel-based data-centric personal data privacy and protection platform, raised $50m in Series C funding.
The round was led by Bessemer Venture Partners, with participation from existing investors SAP.io Fund. In conjunction with the funding, Alex Ferrara, partner at Bessemer Venture Partners, will join the BigID Board of Directors.

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BigID announces $50M Series C investment as privacy takes center stage

BigID's company logo

It turns out GDPR was just the tip of the privacy iceberg. With California’s privacy law coming on line January 1st and dozens more in various stages of development, it’s clear that governments are taking privacy seriously, which means companies have to as well. New York startup BigID, which has been developing a privacy platform for the last several years, finds itself in a good position to help. Today, the company announced a $50 million Series C. The round was led by Bessemer Venture Partners with help from SAP.iO Fund. Today’s investment brings the total raised to more than $96 million, according to Crunchbase.

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Wethos raises $3M to help meaningful brands adapt to fast-paced demands of digital

Wethos Founders

Wethos, the leading platform for rapid-response creative and marketing teams, announced today that it has successfully raised an oversubscribed round of $3 million in ninety days, led by NYC-based Laconia Capital and with the participation of Flybridge Capital, Loup Ventures, Higher Ground Labs, and other strategic investors. This latest round follows a year of substantial growth, in which the three-year-old company deployed over one hundred agile, on-demand teams and increased its revenue by five hundred percent.

The company’s tech-enabled “pop-up departments” leverage agile methodology to build brands, websites, digital content, awareness, and growth campaigns in real time based on each client’s unique needs. Recent leadership hires in sales, marketing, and customer experience will enable Wethos to keep up with the demand of its most popular teams, and expand into new verticals.

“As brands struggle to cut through the noise in a rapidly-evolving digital landscape, we need business and creative minds to come together at 100x the speed they do today,” said Wethos co-founder and CEO Rachel Renock. “Legacy operating systems put unnecessary obstacles in the way of brilliant and diverse people who are hungry to help accelerate progress.”

Unlike big agencies with siloed departments, expensive overhead, and opaque pricing, proprietary technology enables Wethos to rapidly scope complex work and curate teams based on each customer’s unique needs. With a growing database of over 4,000 U.S.-based specialists, Wethos pairs together vetted talent from the best brands in technology, politics,
fashion, education, and more.

“The best founders are compelling storytellers, and the most successful companies are the ones who can align a community of customers, partners and advocates around that brand story,” said Jesse Middleton, General Partner at Flybridge Capital and founding team member at WeWork. “The Wethos team has built a platform that offers this “super-power” to companies of all sizes, bringing unlimited, top-tier talent and execution to help solve pressing challenges around customer acquisition and movement building.”

Wethos is also leading the fight for a more ethical gig economy, with standards like guaranteed on-time payments, transparent pricing, and protection from retaliation.

“No matter your location, gender, race, or skill-set, people should be paid fairly for the value they deliver,” said Renock. “With a workforce that’s increasingly remote, flexible, diverse, and craving purpose, we believe treating talent the best will attract the best talent — period. By putting our community of specialists first, and allowing them to connect in real-time, we’re working toward a more distributed and collaborative future.”

Learn more about Wethos here

AI-based chatbot Niki.ai Raises Funding

Founded in May 2015 by IIT Kharagpur graduates Sachin Jaiswal, Keshav Prawasi, Shishir Modi, and Nitin Babel, Niki.ai is a vernacular conversational platform where users can simply talk to ‘Niki’ in order to pay their monthly bills, book bus or movie tickets, browse plans, prepaid recharges, find local deals and much more, while its personalisation helps one choose the option best suited for them.

Backed by Ratan Tata, Unilazer Ventures, and SAP.iO among other investors, with over 4.5 million users (80 percent of whom are living in Tier II, Tier III India), Niki.ai hit a GMV run rate of about $30 million and a revenue run rate of over $1 million in FY18. After adding Hindi language capabilities, it also witnessed 300x growth in Hindi GMV since October 2018, annualised at $40 million.

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Revuze Attracts Investment From the SAP.iO Fund

Revuze, the SaaS provider of the first self-service consumer product feedback analytics solution, announced today that the SAP.iO Fund made an investment in the company, as part of a funding round that included existing and new investors.  The SAP.iO Fund joins other well-known investors in Revuze, including Nielsen, NPD, TIC Group and Prytek.

The funding comes on the heels of fast international adoption of the Revuze solution across multiple industries and geographies, from China to US and Europe.

Revuze’s artificial intelligence solution is the first in the market to transform how brands consume customer experience (CX) insights. While other solutions are typically requiring experts and manual labor to deliver insights, while being limited to specific feedback channels like Social Media or Surveys, Revuze allows any role in the organization to gain deep insights from any data sources and without any manual labor or experts involved. With Revuze organizations distribute decision making, making better decisions, faster across the board.

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