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Got Talent: Recruiting platform Brilliant Hire raises €1M from SAP.iO

SAP.iO Venture Studio makes a €1 million follow-on seed investment in Brilliant Hire, a bias-free, skill-based pre-screening platform that helps digitize recruiting to provide faster and greater insights

Brilliant Hire co-founders, Swetha and Hemant with Juergen Mueller, CTO of SAP

In most hiring processes, hitting the buzzer to catapult candidates to the next round does usually not occur as quickly as on prime television shows. Talent is nevertheless what both are looking for.

There’s a strong connection between achieving business objectives and hiring the right talent, hence increasing the quality of candidates within the hiring funnel is fundamental to success. Tech is promising a shortcut to identifying the best candidates for job offerings, by also eliminating (un-)conscious bias towards applicants, and improving hiring efficiency. Will software be the next recruiting manager you meet in an interview? Not quite, but it could make all the difference.

Brilliant Hire offers skills-based job applicant screening, providing faster and greater insights without bias. The latest funding allows the venture to proceed with the recently released Brilliant Expert Network. Brilliant Experts is a complimentary service to Brilliant Hire, providing experts who evaluate candidates at any skill level and any discipline. With this service, recruiters simply send candidates the Brilliant Hire link and subsequently receive a full breakdown of a candidate’s skills from the expert. On the backend, the Brilliant Hire teamensures the quality and availability of the evaluating expertsremains high. The platform is unique across the screening industry by combining both machine learning with human evaluators.

Brilliant Experts has been used at SAP by the Silicon Valley Next Talent program over the past few months. With the addition of Brilliant Experts, Brilliant Hire removed the burden of assessment evaluation and decreased the wait time of applying candidates by more than 50 percent:

“We went from a one to two weeks response time to just two days. This resulted in over 400 candidates screened and only 100 qualifying ones to be interviewed – all without burdening recruiters or managers.”

Caitie Sullivan, program manager, Silicon Valley Next Talent Program, SAP

The team has shown early successes, including helping software company SAP SuccessFactors hit their ambitious 2019 hiring targets. This includes hiring over 100 engineers across the San Francisco and Bangalore offices. Beyond SAP, Brilliant Hire has been used by Mercedes-Benz R&D and the Second Harvest Food Bank.

Today, Brilliant Hire is offering a 3-month trial allowing companies to screen up to 300 candidates evaluations for just $1. Simply head over to the SAP Store to start your trial today.

To continue delivering their vision of screening-as-a-service, the new funding enables the team to grow in key areas. During the second half of 2019, Brilliant Hire will add Go-To-Market experts, designers and various engineering resources across San Francisco and Bangalore — hence hiring themselves! If you believe in the team’s mission and are interested in joining, reach out to their General Manager, Ryan Phillips, at ryan@brillianthire.io or check out the team’s career page.


About Brilliant Hire

Your hiring process is biased, we can help you fix it. Be brilliant in the way you hire. Try Brilliant Hire via the SAP Store and find more information on brillianthire.io.

About SAP.iO Venture Studio

The SAP.iO Venture Studio invests in small, entrepreneurial teams inside SAP and helps them build and launch successful products that attack some of the biggest problems in enterprise software. More information on sap.io/studio.

Social commerce examples: The power of social influence for online selling

In-app purchasing on social media is convenient. Not only do you have access to millions of potential customers, you can sell to them without disrupting their social experience. That’s the main advantage.

However, this benefit also has a downside. Are consumers truly looking to shop when on social media? One would argue that higher shopping intent would exist in the actual online store. On social media, people are generally looking to connect with friends and family, hear about the latest news, watch humorous and/or inspiring videos, and gain initial top-of-funnel interest in products that would lead them to enter a shopping environment, the online store.

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Did you catch all our latest SAP.iO Venture Studio highlights?

July — September 2021 | Achievements & News from SAP.iO Venture Studio

SAP.iO Venture Studio drives a new era of organic growth at SAP. It invests in new ventures founded by small, entrepreneurial teams inside of SAP who are focused on building the future of enterprise business processes. SAP.iO Venture Studio provides design, development, and sales support to help these ventures launch. Find more on sap.io/studio.

Autumn is upon us which means another three months have passed! Despite the summer break in many regions of the world, SAP employees have continued to take charge of their venture, pursued the freedom to shape their own strategy and taken their own decisions, also accelerating their own personal growth. Find the highlights of recent events and developments below:

 

The SAP.iO Venture Studio has welcomed a new venture to their portfolio. Yet to be named, it already had its first outing back at SAP’s customer flagship event.

We’ll share more on the venture soon!

Brilliant Hire by SAP

Brilliant Hire by SAP intelligently matches candidates with a personalized shortlist of jobs on your careers page based on what really matters to them, using Artificial Intelligence (AI).

  • Brilliant Hire is now live on the SAP Store!
  • Despite already having mentioned their latest video in last quarter’s edition, we nevertheless wanted to highlight it once more. Watch and read how their product elevates the candidate experience with smart job matching.

More on this venture on https://www.brillianthire.io/

GreenToken by SAP

GreenToken by SAP is a supply chain solution that offers companies new levels of transparency through reliable, blockchain-based information. Gain visibility into where raw materials came from and produce products with knowledge about where and how the materials were produced, even in complex, non-batch supply chains.

  • After featuring prominently in the global opening CEO keynote at SAPPHIRE 2021 and announcing their collaboration with Eastman Chemicals, the partners got together for yet another project, in the form of a 24-hour hackathon. Read more on the event in this blog post on LinkedIn: 24 hour Hackathon delivers cool consumer ‘App’​
  • Further, Eastman also strengthened their commitment to GreenToken and a more sustainable future by mentioning the venture in their quarterly update for investors: “In addition, we continue to drive the circular economy platform from every angle, including digital. We are proud to highlight our collaboration with SAP GreenToken technology. The Eastman and SAP collaboration will leverage the blockchain-based platform of GreenToken to provide visibility through the value chain of sustainable products, such as the specialty plastics produced with Eastman’s molecular recycling technologies. Through data transparency enabled by blockchain, the platform is designed to give brands and consumers traceable information of sustainable attributes of products, including their percentage of certified recycled content.”

More on this venture on http://www.green-token.io/

Paid Promptly by SAP

Paid Promptly by SAP drives cash into your business faster by automating receivable processes. Deliver a seamless, personalized, customer experience through Paid Pronto’s automated communication solution, beginning when an invoice is first released until payment is received.

  • Brilliant Hire has a new General Manager! Paul Parter has taken over the task from Erin Dierker who is on to a new academic chapter at Stanford Business School. We’re wishing both all the best!

More on this venture on https://www.paidpromptly.io/

EverLoop by SAP

EverLoop by SAP aims to empower every business on the planet to achieve zero waste by being a sustainability solution that connects stakeholders across the waste value chain to enable the circular economy, with transparency and traceability.

  • Read here about the founders’ journey and how they developed an idea that was initially discussed over coffee into a product!
  • The team will be from now also sharing updates on their LinkedIn channel, so don’t forget to follow them on their journey of enabling the circular economy through transparent and easy e-waste disposal and recycling management.

More on this venture on https://everloopbysap.webflow.io/

SourceAgent by SAP

Great sourcing shouldn’t be a secret. Source Agent by SAP gives you the insights and strategies to address spend intelligently and wow your stakeholders. Identify sourcing opportunities by aligning your spend to current market intelligence. Receive a targeted sourcing strategy and supplier recommendations based on your data and requirements for each spend category. Quickly convert strategies and plans into eSourcing event prep and execution.

  • The venture celebrated their six months anniversary on September 1! If you need a throwback, re-read their investment announcement from our 2020/2021 cohort here.
  • The team will be from now also sharing updates on their LinkedIn channel, so don’t forget to follow them on their journey of building the future of sourcing.
  • Their pilot program is currently open. Visit their website or email sourceagent@sap.com to learn more.

More on this venture on https://www.sourceagent.io/

Starting a corporate venture: From idea to funding

Co-Founders of EverLoop by SAP

Sometimes the best ideas just come from chatting over a coffee: The founders behind EverLoop by SAP share insights on how they started their business, what hurdles they had to overcome along the way and what makes a successful team.

Co-Founders of EverLoop by SAP

When and how did you know you had a viable idea for a start-up?

So, you have a problem to solve. Now what?

Which difficulties did you have to overcome in your first months as co-founders?

What plans do you have for the future?

About EverLoop by SAP

About SAP.iO Venture Studio

 

The Mom Project Secures $80M in Series C Funding

The Mom Project, the leading platform for moms to discover their economic potential, announced today an $80 million Series C funding round led by growth investment firm Leeds Illuminate. Additional participants include existing investors 7GC, Initialized Capital, OCA Ventures, Citi, High Alpha and Grotech Ventures alongside Silicon Valley Bank.

The Series C round represents the largest global investment ever made in female workforce technology.

“It’s long past time we stop underestimating and undervaluing mothers in the workforce,” said Stephanie Nieman, Managing Director at Leeds Illuminate. “We’re investing in The Mom Project because we believe the potential for continued growth within this business is extraordinary.”

The new funds will accelerate the company’s goal to connect moms on its platform with more than $1 billion in economic opportunity in the next two years through investments in product development, distribution and team growth.

“We’ve demonstrated to the market that betting on moms is good business,” said Allison Robinson, The Mom Project founder and CEO. “We’ve seen 20x growth over the last three years and are eager to leverage this momentum and the trust and equity we’ve earned with moms and our customers and partners to continue building and expanding the reach of category-defining solutions that reshape how work evolves to meet the needs of modern families.”

The investment comes at a crucial time for moms and their families, who were some of the hardest hit during the coronavirus pandemic. In 2020, 2.3 million women left the U.S. workforce—either through job loss or being forced to quit in order to care for their children—leading to the lowest levels of women in the labor force since the 1980s, prompting Vice President Kamala Harris to declare “a national emergency.”

The Mom Project has witnessed business leaders stepping up to the challenge, with companies identifying The Mom Project’s suite of hiring, upskilling and retention solutions as an effective way to solve pressing labor shortages while also addressing longer-term concerns around attrition, skill gaps and the need for greater diversity and empathy in the workplace.

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How SAP Is Tapping into Startup Innovation

Alexa Gorman, senior vice president and global head of SAP.iO Foundries and Intrapreneurship at SAP, was featured earlier this year by Handelsblatt, the German business newspaper, as one of the “100 female leaders moving Germany forward.”

After years working in business development and strategy roles, Gorman took on joint responsibility for SAP’s startup acceleration programs at the start of May, along with the intrapreneurship team that supports ambitious innovators within the company.

Creating a Win-Win-Win Scenario for Customers, Startups, and SAP

The SAP.iO Foundries program was created as a strategic business unit in 2017. “We saw a need to work more closely with startups in a curated way, as startup innovation was becoming increasingly important for our customers in their digital transformation journeys,” Gorman says. “With SAP.iO Foundries, we are offering them the innovative power of pre-selected startups whose solutions can integrate seamlessly with SAP solutions. And while most of the startups are at an early stage, we do a lot of due diligence to ensure that they will be long-term, viable partners of SAP.”

Gorman joined the team in 2017 and set up SAP.iO Foundry Berlin, the first of its kind in Europe. Located across 10 locations today, SAP.iO Foundries make up a global network of top-tier startup programs, including accelerators, that can enable startups to build and scale innovative software solutions that deliver value to SAP customers.

Over the past four years, Gorman and her team have been working with over 330 early-stage startups to bring them into the SAP ecosystem and make them the next generation of SAP partners.

“We encourage the startups to use or integrate with SAP technology and support them in doing so,” she explains. “In exchange, the startups expand their ability to scale more quickly through access to our customers and fast-track support to becoming an SAP partner. Thus, we can ensure that our customers have access to the latest and best startup innovation that increases the return on their investments in SAP.”

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Culture Amp Acquires Values Recognition Platform Disco

Culture Amp, the world’s leading employee experience platform, announced that it has acquired cultural values recognition company, Disco. Disco helps companies recognize and celebrate values-driven work, foster team appreciation and improve company culture across distributed teams.

Together the two companies will accelerate their shared vision of creating a better world of work by helping people feel more connected, valued, and engaged at a critical time for organizations.

The acquisition continues to enhance Culture Amp’s end-to-end employee experience platform, as it empowers companies to transform employee engagement, develop high performing teams, and retain talent.

“Values are at the heart of powerful cultures. Disco has pioneered a wonderfully simple yet powerful way of recognizing them every day,” said Didier Elzinga, CEO and co-founder of Culture Amp. “Critical to creating a better world of work is improving how we work. This acquisition allows us to expand the tools available to our customers to recognize their values at work, to bolster our flow of work and integration expertise, and to drive meaningful change and deeper insights across organizations.”

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Mercaux omnichannel research shows changing role of physical stores

A new report from Mercaux explores the changing role of the store and flags up the importance of capturing customer behaviours, now perceived as just as vital as selling products in bricks and mortar retail.

 

Research was carried out across 200 retailers (by Censuswide) and 2,000 UK consumers.

“It’s clear from our report that the retail industry is still in its infancy of digital transformation, but I’m buoyed by the progress that has been made in such a short period of time since stores reopened to the public,” says Olga Kotsur, CEO and Co-Founder, Mercaux.

“The role of the store has changed – it is no longer perceived as a simple sales channel, but instead a multi-purpose omnichannel centre.”

“What the findings confirm for me is that retailers have been busy setting the foundations of digital success – particularly during the past 18 months – by upgrading their existing and implementing new age backend systems, such as OMS.”

“They now find themselves at the next stage, on the very cusp of a digital transformation wave, finally allowing us to achieve our connected omnichannel retail aspirations. Exciting times ahead!”

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Pexapark to accelerate the energy transition

More than 80 companies across Europe are currently using Pexapark’s Operating System, to manage, sell and buy renewable energy. Over the past 12 months, revenues tripled and the team grew from 20 to almost 50 members, a growth rate that is now recognized by the Innosuisse Certificate.

In 2017, the three co-founders Michael Waldner (CEO), Florian Müller (CTO) and Luca Pedretti (COO), established Pexapark driven by the mission to empower renewable energy players to thrive in post subsidy markets. The idea came up at a time when the renewable energy sector started undergoing a fundamental change with markets transitioning from a heavily subsidized system to an open market. Energy revenues are subsequently becoming volatile, technical and complex to manage, and investors are struggling to oversee their assets in an effective manner.

Headquartered in Schlieren, Pexapark has created a platform that offers investors a more effective solution to manage the energy sales of their wind farms and solar parks. Through its renewables operating system, Pexa OS, the start-up offers an all-in-one solution that helps clients to execute robust strategies for the sale of their renewable power via PPA (power purchase agreement) transactions and other hedging instruments through active portfolio and risk management software and advisory services.

Over 80 leading energy companies including Enel, Uniper, Encavis, RWE, BP and Abo Wind utilise Pexapark’s solutions to support their commercial renewable energy activities. Most recently, IKEA became one of a growing number of major corporates to sign a customer agreement with Pexapark, utilising its platform to support their green energy procurement strategy. Renowned industry giants including SAP.io and EEX have also joined the start-up’s partnership and collaboration agreements list. “Working with such reputable companies is an indication that we are addressing a major pain point in the sector. As the renewable energy industry continues to grow, we envision our start-up becoming a major player worldwide as the leading green energy trading platform,” says Waldner. Thanks to the continued trust by its customers, Pexapark has seen a threefold increase in revenues on a year-on-year basis.

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How CPG Brands Keep Up with Retail’s Fastest-Moving Consumer Demands

Nobody understands the frustration of consumers who can’t find the products they’re looking for more than the experts at Teamcore, an artificial intelligence (AI)-based startup with operations in Latin America and the United States. Teamcore’s cloud-based software platform uses machine learning to power intelligent workflow automation that tells consumer packaged goods (CPG) companies and retailers why products aren’t selling and what they can do about it fast.

“We help CPG companies and retailers make sure products are available when their customers are ready to buy,” said Sergio Della Maggiora, founder and CEO of Teamcore. “Whether someone is shopping online or in a physical store, our retail execution platform based on intelligent workflows helps connect data across the supply chain – from warehouse to shelf, virtually or in-store – so companies don’t miss out on sales opportunities.”

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Wise Systems Raises $50 Million in Series C Financing

Wise Systems announced it has raised $50 million in Series C financing led by Tiger Global Management with participation from new and existing investors that include Section 32, Valo Ventures, Gradient Ventures, and Prologis Ventures.

Wise Systems’ real-time, automated system powers delivery and service operations with drivers worldwide across the last-mile industry. The company will use the financing to further accelerate product development, market expansion across key geographies, and address the increasing global demand for the company’s next-generation dispatching and routing solutions.

“The last-mile industry has undergone radical transformation over the last five years, driven by a combination of technology, customer appetite, and disruptive newcomers like Wise Systems,” said Chazz Sims, CEO and co-founder of Wise Systems. “With this latest round of funding, we’re excited to invest further in our business and continue to push the boundaries of innovation and customer experience, embedding machine learning and AI in service of automation, efficiency and carbon reduction.”

A leader in AI technology for last-mile delivery operations, Wise Systems saw significant growth over the two past years, growing 300% year-over-year, experiencing increased demand for the company’s autonomous dispatch and routing technology across a number of markets. Today’s announcement comes on the heels of other significant developments for Wise Systems this year, including the availability of its platform in the SAP App Store and its launch in Japan. In July, Wise Systems announced a partnership with Mitsubishi Fuso Truck and Bus Corporation (MFTBC), under the umbrella of Daimler Trucks Asia (DTA), to offer the company’s AI-driven routing and dispatch software to MFTBC customers in Japan. The partnership extends Wise Systems’ reach to the commercial vehicle industry in Japan, one of the busiest last-mile markets in the world.

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SAP.iO Foundry Tokyo To Accelerate Data & Analytics Startups

October 6, 2021 SAP SE (NYSE: SAP) launched its B2B startup program at SAP.iO Foundry Tokyo with focus on data and analytics. Five startups working in the areas of data harmonization, business analytics, machine learning and data-as-a-service have been selected to join the program.

“It has become increasingly important for our customers to analyze data and get insights from it, particularly in light of the current COVID-19 pandemic,” said Hirofumi Suzuki, SAP Japan President and Representative Director. “This program will encourage our customers to use a variety of data on SAP platforms with new technology from cutting-edged startups”.

The equity-free program is designed to accelerate innovation and drive new business models for SAP’s customers. During the 13-week virtual program, the startups will have access to curated mentorship, exposure to SAP® technology and application programming interfaces (APIs), as well as collaboration opportunities with SAP customers.

The data and analytics cohort includes the following startups:

  • EAGLYS provides safer and more private ways of processing and exchanging data via secure computing systems, as well as enables AI to process always encrypted data.
  • Sustainable Lab allows companies to visualize the cost-effectiveness (contribution to earnings and stock price) of their sustainable development goals (SDG) actions using artificial intelligence and big data analysis.
  • Synspective offers one-stop-solutions using geospatial data from its own synthetic-aperture radar (SAR) satellites to provide data and analytic information to governments and commercial outfits.
  • Tradewalz provides a cross-industry digital trade platform to share trade documents and electronic data using blockchain technology.
  • Zeroboard streamlines corporate CO2 emission calculation, reduction management, and compliance with regulatory reporting and market disclosure.

About SAP.iO
SAP.iO delivers new partnerships and products for SAP by accelerating and scaling startup innovation as well as incubating employee ventures. SAP.iO brings together innovators from every region, industry, and line of business to transform how businesses run. Since 2017, SAP.iO has helped 300+ external startups and internal ventures accelerate their growth while enabling thousands of SAP customers to access innovation. For more information, visit http://sap.io/.

NWO.ai Partners with SAP to Help Consumer Packaged Goods Companies Stay Ahead Utilizing Petabytes of External Data

NWO.ai announced it is one of the first data providers to offer a solution – its Consumer Intelligence solution – on the data marketplace for SAP Data Warehouse Cloud. The data marketplace is a new feature of the SAP Data Warehouse Cloud solution which enables businesses and IT users to directly consume partner data offerings that are available on SAP Store.

By tracking emerging cultural and consumer behavior shifts globally, NWO.ai provides clients with a significant competitive advantage and helps them stay close to their customers. Specifically, consumer product companies can now leverage Consumer Intelligence from NWO.ai to:

  • Analyze and identify potential demand growth drivers
  • Track global cultural shifts by analyzing billions of data points in under 60 seconds
  • Understand consumer sentiment and the leading indicators behind it
  • Deep dive on microtrends associated with products and categories
  • Identify the influential voices and brands that drive the consumer narrative

“We’re thrilled to be extending our Consumer Intelligence solution to the data marketplace for SAP Data Warehouse Cloud via SAP Store, helping customers to further benefit from valuable petabytes of external data that NWO.ai is continuously analyzing. We are pleased to help customers turn unstructured data into actionable insights,” said Pulkit Jaiswal, co-CEO of NWO.ai.

SAP Store, available at store.sap.com, delivers a simplified and connected digital customer experience in finding, trying, buying and renewing more than 1,800 solutions from SAP and its partners. There, customers can find both SAP solutions and SAP-validated solutions they need to grow their business.

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SAP.iO Foundry Berlin Launches Health Sciences Startup Program

October 5, 2021 SAP SE (NYSE: SAP) launched a virtual startup program focused on health sciences at SAP.iO Foundry Berlin. The eight international startups have been selected by a jury of SAP experts, partners and customers to join the program.

The COVID-19 pandemic has further demonstrated that a digitalized patient journey and efficient clinical trials are imperative to a good health system. With this program, SAP.iO aims to increase the visibility and influence of startups who have made improvement in these areas their mission.

“Our customers depend upon SAP and our ecosystem to provide them with access to the best innovations for their businesses, delivered quickly, in order to provide real, tangible benefits”, said Matthew Laukaitis, Global General Manager, Consumer Industries at SAP. “The SAP.iO program helps our customers understand each startup’s niche innovation and use cases that are consistent with their data and business strategy. We are enthusiastic about working with each of the selected health sciences startups together with our customers, as the pace and impact of these innovations is far-reaching all across these industries.”

Over the next 12 weeks, the startups will have access to curated mentorship from SAP executives, exposure to SAP® technology and application programming interfaces (APIs), and opportunities to collaborate with SAP customers around the world.

The following startups are participating in the SAP.iO Foundry Berlin program:

Life Science Track

  • Chekkit provides a patented consumer intelligence, engagement and loyalty software-as-a-service (SaaS) solution to help medicine and pharma companies fight illicit traders and fake medicines.
  • Endeavor is a global consulting and specialty products firm with a focus on manufacturing, supply chain and logistics solutions in SAP and other IT platforms.
  • GenLots provides a SaaS solution that uses machine learning to optimize supply chain processes including order plans, inventory, transactions and prices.
  • Tag-N-Trac offers a proprietary ultra-thin smart label technology linked to a hardware-enabled SaaS/analytics platform that provides real-time supply chain visibility and traceability.

Healthcare Track

  • Laura offers a machine learning-based clinical decision support system and an omnichannel platform to simplify access to medical services and improve the overall patient journey.
  • Oribta focuses on conversational AI for healthcare and life science. Their virtual assistants and conversational platform help with digital front door applications, remote patient support, pre- and post-visit outreach, and other critical interactions throughout the care journey.
  • Vyasa Analytics enables clients to organize and manage unstructured and semi-structured data assets via its Layar deep learning data fabric software. Data integrated within Layar can be used to derive insights and build dynamic knowledge graphs with intuitive natural language question answering.
  • ELLKAY builds the data pipeline for labs, hospitals and health systems, ambulatory providers, healthcare IT vendors and payers. They offer interoperability data solutions, including data integrations, interface and connectivity solutions, data exchange feeds and conversion and data archive services. 

About SAP.iO
SAP.iO delivers new partnerships and products for SAP by accelerating and scaling startup innovation as well as incubating employee ventures. SAP.iO brings together innovators from every region, industry, and line of business to transform how businesses run. Since 2017, SAP.iO has helped 300+ external startups and internal ventures accelerate their growth while enabling thousands of SAP customers to access innovation. For more information, visit http://sap.io/.

Joanna Riley, CEO And Co-Founder At Censia, Wins Silver Stevie® Award In 2021 Stevie Awards For Women In Business

Censia has announced that CEO and Co-Founder, Joanna Riley, was named the winner of a Silver Stevie® Award in the Female Entrepreneur of the Year  – Business Services – 11 to 2,500 Employees category in the 18th annual Stevie Awards for Women in Business.

Gold, Silver, and Bronze Stevie Award winners were determined by the average scores of more than 160 business professionals  around the world, working on eight juries.

The Stevie Awards for Women in Business honor women executives, entrepreneurs, employees, and the companies they run- worldwide.  The Stevie Awards have been hailed as the world’s premier business awards.

Winners will be celebrated during a virtual awards ceremony on Thursday, January 13, 2022.

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Switzerland-based Archlet raises €8.6M to help companies to make better sourcing decisions; here’s how

Zurich-based Archlet, a B2B SaaS application platform that empowers company buyers to make informed decisions in strategic sourcing, announced that it has secured $10M (approx €8.62M) in its Series A round of funding.

The fundraise comes early for Archlet, as it raised its $2.8M Seed round in January 2021. The additional capital will allow Archlet to further boost product development and to expand into new markets.

The round was led by HV Capital. Existing investors Wingman Ventures, Senovo, and La Famiglia also participated in this round. Business Angel Matthias Hilpert completed the round and said he will continue to support Archlet on its journey.

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