Meet the team at Foundry Tel Aviv & hear about how we work with B2B startups!
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
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.
September 21, 2023 — SAP SE (NYSE: SAP) today launched its new startup program focused on the future of consumer engagement at SAP.iO Foundry Paris. 15 startups have been selected to join the program.
In today’s highly competitive market, retailers and consumer product companies face new challenges in the way goods are marketed, purchased, fulfilled and delivered. However, advancements in emerging technologies such as artificial intelligence present novel prospects to transform the consumer and shopper experiences.
The six-month program is primarily B2C (business-to-consumer)-oriented and aims to provide all necessary tools and solutions to significantly enhance the end customers’ experience, with a particular emphasis on shopping. The selected startups offer solutions that cover the entire supply chain, from selecting the right product to a timely delivery.
The SAP.iO program will support 15 startups, which were chosen based on several criteria, including their size and relative experience, the technical viability of their solutions, their uniqueness compared to existing technologies at SAP, and their commercial value.
The following startups are participating in the SAP.iO Foundry Paris cohort:
- Anaphora designs and creates platforms to help international brands elevate and control their brand experiences across all digital touchpoints.
- Booxi is an appointment booking software that enhances customer satisfaction, increases conversions and sales by facilitating seamless customer journeys from the website to the store.
- With ChatLabs, brands can create a unique experience for each customer by combining content, products, and calls to action in highly personalized journeys, which are fully automated and powered by AI.
- Digitoo is an AI-powered bookkeeping solution designed to tackle the industry-wide problems of understaffing, the high costs and complexity of handling paper documents and difficulty implementing automation systems.
- Find & Order has been working with logistics and distribution leaders for three years to challenge their operations and information systems.
- Frontnow is a GenAI-powered shopping assistant that helps online retailers offer a seamless in-store-like experience across channels with easy low-code implementation.
- Logicbroker connects all participants in an organization’s supply chain through an integrated suite, regardless of their business model.
- Measmerize offers a size recommendation solution for fashion that helps consumers know not only what size to buy, but also how it fits on their body, requiring minimal integration from retailers.
- Notify uses AI to power an innovative CRM that reduces marketing pressure, personalizes and legitimizes the relationship, and optimizes the CRM’s carbon footprint.
- Particular Audience’s solutions include bundled and automated offerings on price alignment policy, sponsored products, transformer-based vector search, visual search, recommendations, price information, and dynamic pricing.
- Potions develops and deploys the first cookieless path personalization platform, delivering unique experiences for customer website visitors.
- Q°emotion is a semantic and emotional solution that automatically analyzes customer reviews to detect and eliminate customer journey irritants.
- Uncrowd is an experience analytics platform that helps companies build a customer journey map by combining customer experience observation, quantitative measures, and comparative results.
- Unea enables retailers and brands to collaborate seamlessly by presenting products and reserving real-time placements.
- YDISTRI specializes in managing unsold retail inventory, increasing efficiency and profitability while enhancing customer loyalty, sustainability, and supply chain resilience.
About SAP.iO
SAP.iO curates a relevant and diverse startup ecosystem that extends the value of SAP solutions and meets the continuously evolving needs of our customers. Our programs provide dedicated support to the most promising startups as they launch and scale relationships with SAP and our global network of customers, partners, and employees. Since 2017, we have connected thousands of SAP customers with innovative enterprise software startups, helping them find solutions to their unique needs. For more information, visit http://sap.io/.
Paradox, the conversational recruiting software helping companies like Unilever, Nestlé, Pfizer, and General Motors automate recruiting work to make the hiring process more efficient, was named to the Inc. 5000 for the third consecutive year — achieving the honor with a 720% three-year growth rate, highest among recruiting technology companies. The list, published annually by Inc. Magazine, recognizes the fastest-growing private companies in the United States and celebrates their outstanding achievements in business development and innovation.
Paradox debuted on the Inc. 5000 list in 2021 and was also recognized on the Deloitte Fast 500 list in 2022 and 2023. While those achievements celebrate the company’s growth, Paradox founder and CEO Aaron Matos said they’re simply the result of focusing on something far more important.
“Recognition like this is nice, but we’ve always benchmarked our success by a simpler metric: Our client’s success, specifically, our ability to solve real, meaningful problems for them in transformative ways,” said Matos. “This company has come so far from the early days of a dream and an idea — that Conversational AI and automation could change enterprise software — and we still have a long way to go to reach that vision. But, I’m so proud of the team we’ve built and the clients we have the opportunity to partner with every single day.”
First launched in 2016, Paradox’s conversational software is underpinned by a smart AI assistant that acts as a concierge throughout the hiring process — automating time-stealers and points of friction to create world-class experiences that drive higher candidate conversion and dramatically improve recruiter and hiring manager efficiency.
SAP.iO’s ecosystem of successful raises and exits
Summer 2023
SAP.iO has curated over 525 startups in SAP’s startup ecosystem. We’re proud that many of the startups from our programs continue to raise VC funding and have successful exits. This demonstrates that SAP startup technologies are addressing the rapidly changing requirements of the marketplace and have risen to the occasion of meeting customer needs. Here are the latest raises and exits you should know about!
Funding
Synspective, a Tokyo based SAR satellite constellation & One-stop Geo-solutions company, closed a $35.4M round.
Sedna, a London-based email platform that caters to customers in the bulk cargo, maritime and logistics markets, has landed a $42 million funding round it says will enable the company to further help customers integrate their email inboxes with existing systems of record. The company said the funding, which brings the total amount of venture capital invested in Sedna to $86 million, will go primarily toward enhancing its product.
Impress.ai, a Singapore-based AI-powered chatbot for recruiters, has recently secured a $6M Series A round. The new funds will be used for expansion across Southeast Asian markets. According to Impress.ai, it has users in Singapore, Indonesia, Hong Kong, Taiwan, the US, and the UK.
ChargeX, a German EV charging firm, closed a $12.5M Series B round. With the fresh funding ChargeX makes plans to expand to other European markets and also bring ‘bi-directional charging with local power connections using vehicle batteries’ into the fold
Exits
Magazino was acquired by Jungheinrich, a Hamburg-based intralogistics company. Jungheinrich has had shares in Magazino since 2020, and in 2022 it increased its ownership to 21.7%. The new deal, to acquire all shares of the company, took effect immediately upon signing earlier this week. Both parties have agreed to not disclose the purchase price.
200+ SAP.iO startups deliver their apps, add-ins, and integration kits to SAP’s global customers through SAP Store. SAP Store is the online marketplace where customers around the world can discover, try, buy, and renew enterprise solutions from SAP and its trusted partners. We are excited to share with you the latest startup technologies to be added to the store! You can check out all of our portfolio technologies that integrate with SAP solutions on the SAP Store.
Retail Operational Quality
by Qvalon Inc
Empower your frontline workforce with all-in-one app
Integrated with SAP Business Technology Platform and SAP Analytics Cloud to streamline inspections, enhance communication, and deliver vital insights from field-teams to senior management. Generate customizable reports, manage workflows, and empower frontline teams in a single app. Check out a product video here and find them on the SAP Store here.
Beem
by Holome Technologies Limited
The best communication happens in person. The second best happens on Beem.
SAP SuccessFactors customers expect reliable, trustworthy communication; Beem provides a light touch platform for pre-recorded and live-stream hologram videos. Users can create holographic recordings that are safe, secure, and stable and don’t need any clunky SDK updates. Beem can be accessed via an SSO (single sign-on) API log-in to access Enterprise features. With Beem, you appear as a full-size human hologram. Check out a product video here and find them on the SAP Store here.
eFOM Energy Management System
by Formula Technologies, Inc.
Providing EMS to ESG integration for a smart and sustainable future
Our EMS energy management dashboard is linked to SAP ERP Carbon report, providing eight major carbon management abilities. We can analyze and solve major pain points like compressed air systems, electronic systems, and water heating systems. This solution was incubated and funded by SAP.iO. Check out a product video here and find them on the SAP Store here.
BlueTax – Individual Income Tax and VAT invoice Management Expert
by Shenzhen Learning Leader Technology Ltd
Make your finance and tax operation processes efficiency, compliance, and safety
Bluetax integrates with SAP SuccessFactors through the interface, provides one-stop services for payroll, individual income tax, and social security business. Professional supply chain information collaboration and VAT invoice management cloud platform. Check them out on the SAP Store here.
Crosschq, the world’s first Hiring Intelligence platform purpose-built to increase Quality of Hire announced a new DEI enhancement to its TalentWall offering. The introduction of enriched diversity data expands the solution’s ability to visualize the entire active and historical candidate pool, enabling companies to track diversity-focused sourcing and hiring initiatives more accurately.
Jake Paul, President of TalentWall, shared, “When it comes to rendering the full picture of ATS analytics, diversity data plays a major role. Until recently, most companies relied solely on voluntary EEOC forms. This approach produced gaps and impacted the efficacy of DEI programs. With this enriched data from TalentWall, Crosschq customers will be able to prioritize their diversity hiring efforts with a 90 percent confidence rate in the diversity of their candidate pipeline.”
Earlier this year, the latest Crosschq Q Report found that diversity hiring, specifically gender and ethnicity, has slowed significantly, potentially undoing years of purposeful progress. To help prevent further erosion and ensure employers can attain their ESG and DEI goals, Crosschq built this newly enriched diversity data set, leveraging third-party resources and artificial intelligence to break down the gender and ethnic makeup of candidate pipelines. In doing so, Crosschq TalentWall customers gain a better understanding of how their talent acquisition strategies correspond with outcomes, able to see how pipeline diversity trends over time. This allows these teams to measure the impact of certain initiatives and amend diversity hiring efforts to reflect organizational goals.
Almost 90 percent of global financial and goods flows touch an SAP system. That kind of reach is almost unthinkable — and the tech giant wants to put it to work to empower diverse startup founders.
While the company doesn’t fund startups directly, its SAP.iO Foundries initiative arguably offers something even better. The program gives startups an opportunity to integrate within SAP’s technology ecosystem and develop relationships with the company’s vast network of customers, partners and employees.
Almost half the companies (44 percent) in SAP.iO’s global portfolio are founded or led by an underrepresented entrepreneur. Since 2017, the 525 companies incubated by SAP globally have raised around $11 billion in venture capital post-graduation from SAP.iO. They’ve also landed sales in the tens of millions thanks to connections made through the program and created around 36,000 jobs.
“The feedback that underrepresented people often get when they go to investors is, ‘You don’t have enough traction,’ whether that’s valid or not,” said Kange Kaneene, vice president of SAP.iO Foundries in North America, Latin America and the Caribbean. “What we can say is: We are going to give you that traction. We’re going to give you big contracts with big customers that are incontrovertibly impactful in whatever region or industry they sit in, and then we’ll help you fundraise by introducing you to people. And that’s something that the numbers show has been extremely successful for us.”
A boost for underrepresented founders…
SAP.iO intentionally seeks out underrepresented founders, who it defines as entrepreneurs from groups whose venture capital funding is disproportionately low for their region. This varies globally but often includes women, people of color, LGTBTQ people and people from countries that tend to be overlooked by VC funders.
SAP.iO formalized its commitment to these founders in 2019 with the launch of SAP.iO No Boundaries, which it bills as “the first comprehensive inclusive entrepreneurship initiative for underrepresented and underestimated entrepreneurs in the business software industry.” It pledged to scale SAP.iO Foundries with a focus on diverse founders, aiming to support at least 200 startups founded or led by underrepresented entrepreneurs by 2023. It met that goal in July, six months ahead of schedule.
But incubating startups led by diverse founders is only the beginning. Creating a landscape in which these startups can succeed also means busting preconceived notions and changing hearts and minds.
“When I talk to external stakeholders about how we’re excited about the focus on underrepresented founders, their feedback is always, ‘Oh, so does that mean you’re compromising on quality?’ That’s always very frustrating, but we’re excited to say that [the startups led by underrepresented entrepreneurs] in the portfolio tie or surpass the rest of the portfolio on all the typical external metrics,” Kaneene said.
The 200 startups founded or led by underrepresented entrepreneurs make up 44 percent of SAP.iO’s global portfolio — and they represent half of the unicorns in the portfolio (meaning their valuation exceeds $1 billion), as well as 42 percent of cumulative VC funding. They also “have a greater likelihood to progress in their partnership with SAP,” according the company.
New Product Offers Digital Returns Portal and End-to-End Post-Purchase Communications
parcelLab, the premier global provider of post-purchase customer experience software, announced the launch of Retain. The new product provides the uncomplicated returns experience today’s consumers expect, while providing brands with the flexibility and customization options needed to reduce costs, recover more revenue, and make returns more sustainable.
Retain uplevels the returns, warranty, and exchange process from paper to digital, featuring a digital returns portal as well as tracking and communications to enable customers to effortlessly register their returns, get a label or QR code, and track returns. Personalized emails and a customized Returns Status Page deliver end-to-end post-purchase communication to drive web traffic and repeat purchases.
Returns remain an untapped part of the post-purchase experience and the next revenue retention opportunity for brands. A recent parcelLab study found that brands’ return policies influence 92% of consumers – and 54% of consumers expect access to the return process status at any time. To meet this overwhelming market demand, parcelLab developed Retain to empower retailers to deliver their customers the tools and transparency they require while ensuring personalized journeys that build and sustain customer loyalty over time.
“Retailers have an opportunity to turn potential customer dissatisfaction into opportunities for revenue retention”
In our increasingly digitized world, the manner in which we exchange information has evolved from traditional pen and paper to the utilization of digital data, facilitated by the internet.
While these advancements offer efficiency, speed, and accessibility, digital interactions are typically hindered by a lack of trust. To preserve data integrity, verification is required, usually through methods involving multiple parties, and this can result in inefficiencies.
When Zheng Wei Quah, co-founder and CEO of Accredify, recognized this challenge, he decided to embark on a journey to transform the landscape of digital interactions.
Implementing blockchain technology for real-world cases
Quah’s first blockchain venture, Ceito, aimed at aiding businesses in leveraging blockchain technology for optimizing supply chain management and commodities trading. In 2017, he ventured into a new chapter together with his co-founders, taking the strategic step of establishing Accredify, in response to the evolving landscape that witnessed a transition from service-centric to product-centric enterprises.
According to Quah, one of the significant challenges they encountered was the scarcity of available information and resources about blockchain technology at that time.
“We’re accustomed to leveraging resources like Stack Overflow and other tools to search for solutions to our challenges. However, back then, the situation was quite different. Tasks such as customizing specific Ethereum components to align with our use case posed significant challenges. The answers to these questions weren’t readily available, leading us to recognize the need to invent our own solutions,” Quah said.
Furthermore, the concept of blockchain was relatively new, and Quah found himself needing to explain granular technical details. Controversies such as the crash of the Terra Luna cryptocurrency and the FTX centralized exchange did not deter their efforts.
Support from government entities, universities, and its clients helped people learn to distinguish between firms offering real-world applications like Accredify, and cryptocurrencies. This provided strong evidence that the company is here for the long haul.
hrtech, the Singapore-headquartered HR Technology Analyst firm, recently announced the launch of an HR Guide titled “Conversational AI in Recruitment” to address the need for automation that simplifies and streamlines the candidate experience, while saving hours of repetitive work for recruiters every day. The guide was produced in partnership with Paradox, the conversational hiring platform helping global employers like Unilever, Nestle, McDonald’s, and General Motors transform hiring with mobile-first automation.
The idea behind the HR guide stems from the fact that there has been a drastic change in the way organizations and employees approach business processes. Digital transformation has been the topmost priority for organizations wanting to enhance business proficiency and candidate experience. Today, candidates want a consumer-grade experience at their workplace and expect the hire-to-retire journey to be digitally seamless and efficient. Candidates also expect multi-channel accessibility to connect with recruiters — and instant access to information throughout the hiring process. This is where Conversational AI proves to be a great aid for recruiters.
The HR guide intelligently brings rest to all the myths surrounding Conversational AI and maps out the differences between traditional recruitment techniques and Conversational AI-led recruitment. To harness the full potential of Conversational AI, the HR guide validates that organizations can integrate this technology into their recruitment tech stack, including Applicant Tracking System (ATS), job boards, CRM, assessments, recruitment marketing tools, and more.
The HR guide brings to light the success stories of global organizations that have deployed Conversational AI to enhance their recruitment function. The detailed case studies about the United Overseas Bank Limited (UOB), McDonald’s, and a non-profit healthcare organization will help you understand how Paradox helped them improve their recruitment function and enhance the candidate experience using Conversational AI.
impress.ai, a leader in enterprise recruitment software solutions, announced the roll-out of their innovative product impressGenie – a generative AI driven bespoke recruitment workflow builder. Recruiters can easily design role-specific recruitment workflows using simple natural language user-friendly prompts with this tool.
impressGenie’s capabilities include:
- Mass Customization: Builds bespoke, role-specific recruitment automation workflows with precision
- Job Description Parsing: Identifying and integrating relevant screening criteria, including keywords, into the workflow based on the job description
- Competency Assessment: Recommending relevant assessment questions or third-party assessment tests
With impressGenie, recruiters can now efficiently customize recruitment automation workflows at a large scale, generating distinct workflows for each role, rather than relying on a one-size-fits-all approach. This mass-customization capability radically transforms the recruitment process, accommodating the unique requirements of thousands of roles.
When a new role opens, recruiters can provide basic prompts about the role to impressGenie, which will then generate a custom workflow. This workflow manages role-specific candidate information collection, screening, interview scheduling, and onboarding. Recruiters have the flexibility to decide which parts to automate and which to retain a human touch, ensuring a perfect blend of efficiency and personalization. impressGenie seamlessly integrates with all major Applicant Tracking Systems (ATSs), including SAP SuccessFactors, Workday, and Oracle Recruiting Cloud.
Benefits of e-commerce include reaching new customers and better personalizing service. But what if your customers need – and have spent decades relying on – the in-store expertise of your associates? To find a very specific product? For use with another very specific product? To accomplish a very specific task?
“More and more of our users are coming online…[and] they still want to have the similar guidance and the systems they had in-store,” Ganna Lobachevska, the touchpoint owner of Product Finder and Product Guidance at Bosch Power Tools Accessories, told SAP at NRF 2023 for a new video. “Our overall goal is to make it easier for our users to find the right accessory for their job.”
Of course, making something easy to do on the front end is seldom easy to build on the back end. And that was Bosch’s challenge when helping online shoppers narrow their search for the perfect jigsaw blade, drill bit, or abrasive wheel from a truly massive accessory portfolio.
“Any company with a wide range of products has to think how they can simplify the user journey…and how they can make it easier for the customers to find the right product,” Lobachevska said. “With the Bosch Accessory Advisor, we provide a solution that makes it easier and faster.”
Building that easier, faster solution meant finding a high-tech way to satisfy a peculiar demand by online shoppers.
When Brick-and-Mortar Set the Bar (Almost) Too High
Selecting a specific power tool accessory for a specific job – and ensuring it’s compatible with your specific power tool – are big reasons that people historically shopped at brick-and-mortar stores, according to Lobachevska. It makes sense, right? You can consult with a knowledgeable human sales associate.
But Bosch’s e-commerce customers expect the same in-store-style expertise via a quick and painless online exchange, according to Lobachevska. And she doesn’t seem worried.
“The Accessory Advisor guides the user through a series of very simple questions,” Lobachevska said. “In the end, they have three perfect recommendations for the work they want to do.”
It’s pretty much an online conversation that yields the right product, according to Lobachevska. And Bosch found the right tech – and partners – to make these virtual dialogues happen.
Tech to the Rescue
“We realized that there is a need for a better user guidance,” Lobachevska said of Bosch’s decision to go with Zoovu, a Boston-based digital commerce search platform and partner solution in SAP’s industry cloud. “It offered us the best.”
Zoovu’s Semantic Studio translates technical jargon into e-commerce-friendly prose, which saves time for both Bosch data managers and shoppers. A few artificial intelligence (AI)-assisted questions later, and these accessory hunters have enjoyed a smooth, seamless customer experience.
“This means that our customers spend less time searching for a product,” Lobachevska said. “And when they purchase the product, it’s the right one and they are more satisfied.”
This increases efficiency, according to Lobachevska. It also cuts down on returns and poor online reviews.
Talent acquisition remains a focal point for most organizations in this dynamic and highly competitive corporate environment. Unfortunately, the pivotal process of offboarding often takes a back seat. An efficient employment separation process plays a key role in enhancing the employee experience, protecting the company’s reputation and mitigating potential legal and financial risks associated with employee separation. One solution that effectively addresses these complexities is Onwards HR, a platform that automates key portions of the separation process to ensure accuracy, compliance and a positive overall brand experience for those leaving the organization and those charged with executing what is often an emotional and stressful process.
Even under the best circumstances, employment separation is traditionally a labor-intensive and challenging process. It involves multiple stakeholders, including human resources representatives, line managers, legal counsel and executives, who must ensure a smooth and compliant transition while managing their primary job responsibilities. This dual responsibility often leads to overstretched staff and an increased risk of errors, creating a potential minefield of financial and legal implications for the organization. Examples include lawsuits resulting from unlawful terminations, potential violations of the Worker Adjustment and Retraining Notification (or WARN) Act during mass layoffs, adverse impact on protected groups and the financial pitfalls due to clerical errors or improperly executed severance agreements. The stakes are higher than often appreciated, considering legal fees and the potential damage to the organization’s reputation. Plus, the emotionally charged nature of the circumstances surrounding these events further compounds stress, making it essential to manage with precision and sensitivity.
In light of these challenges, organizations are turning to technology to ensure a structured, automated separation process that safeguards accuracy and compliance. This is a natural extension of the ongoing movement to automation in HR technology, which is critical to achieving the best business outcomes. We assert that by 2025, three-quarters of organizations will identify use cases that specify human capital management system requirements for optimum agility. This critical business process is a perfect example of how technology brings structure and automation to a business-critical but sometimes highly risky process.
Enter Onwards HR: an innovative system that streamlines employee separation actions, minimizes financial and legal risks and saves time and costs typically incurred by a long and redundant process with the engagement of external legal counsel. Onwards HR is a comprehensive digital platform that seamlessly manages the most critical elements of the separation process. The technology ensures strict adherence to laws and regulations, minimizing the potential for costly litigation. For instance, Onwards HR has built-in compliance checks for WARN Act implications, flagging potential violations during large-scale layoffs. This preemptive risk mitigation is an invaluable asset for organizations navigating the complex legal landscape of offboarding.
E3 magazine has selected the most exciting companies to showcase in our SAP Startup Spotlight Series. In today’s installment, we’ll be looking at Soley, a product mining solution provider available on the SAP store.
Alexander Springer is an experienced Co-Founder and CEO in the software industry. With a strong background in business development, he has successfully led Soley, a product mining provider, since 2021. Under Alexander’s leadership, Soley continues to revolutionize the product management landscape, empowering businesses to make data-driven decisions and drive sustainable growth.
What is Soley and what do you offer?
Soley is a product mining solutions provider, based in Germany with services available initially in the DACH (Germany, Austria, Switzerland) market and expanding globally. We provide advanced software and analytics tools that help manufacturing companies optimize their product portfolios and improve operational efficiency. Our platform enables companies to analyze complex data sets, identify inefficiencies, and make data-driven decisions to drive business success.
Imagine a manufacturing company producing industrial components. Leveraging Soley’s product mining solution, they can thoroughly examine their product portfolio, identifying underperforming items while optimizing their offerings to prioritize high-margin, high-demand products. Consequently, this optimization strategy enables them to achieve substantial cost savings, increase profitability, and enhance customer satisfaction. This real-world example showcases how Soley’s solution can transform businesses and drive tangible results. Our solution is scalable, customizable, and has been successfully implemented in numerous companies across various industries worldwide.
How does your solution work?
Soley’s solution operates through a powerful combination of complexity analytics, value patterns, and decision intelligence. Our process begins with a comprehensive analysis of complex data. Through this analysis, we uncover valuable insights and patterns that may otherwise remain hidden.
Using these insights, we provide decision support tools that empower manufacturing companies to make informed and strategic decisions. Our solution aids in reducing complexity within the organization, streamlining processes, and optimizing product offerings. By leveraging our expertise in data analysis and decision-making, companies can effectively navigate the complexities of their operations and drive tangible business performance improvements.
Whether it’s identifying underperforming products, streamlining production processes, or maximizing profitability, Soley’s solution offers the necessary tools and intelligence to enable companies to achieve their goals. We strive to deliver actionable insights and decision support, helping businesses optimize their product portfolios, improve operational efficiency, and ultimately increase profitability.
200+ SAP.iO startups deliver their apps, add-ins, and integration kits to SAP’s global customers through SAP Store. SAP Store is the online marketplace where customers around the world can discover, try, buy, and renew enterprise solutions from SAP and its trusted partners. We are excited to share with you the latest startup technologies to be added to the store! You can check out all of our portfolio technologies that integrate with SAP solutions on the SAP Store.
Morpheus.Network Brand Protection
By MN Consulting Services, Inc.
Protect your brand, reduce global counterfeiting, & improve consumer experiences
Counterfeit, grey, diverted, and stolen products erode revenues for brands worldwide. We help you protect your revenue and your customers by connecting to your purchase orders on SAP S/4HANA Cloud and using a digital twin with a verifiable identity and blockchain to protect your brand value. Check out a product video here and find them on the SAP Store here.
Gappify
By Gappify, Inc.
Powering completeness, accuracy, and compliance
Automate the entire accruals process, including vendor confirmations, PO and budget owner confirmations, historical calculations, and auto-posting JE’s into SAP S/4HANA. Automate over 500 hours of manual work, improve the accuracy of expense data, and drive tighter compliance controls. Check out a product video here and find them on the SAP Store here.
Drivin
By Drivin SPA
Drive logistic efficiency while improving your customer experience
Our dynamic pricing engine enables profitable growth by ensuring optimized pricing to influence shoppers’ buying decisions. The pricing decisions are put on autopilot to drive sales, margins, and loyalty and integrates seamless with SAP S/4HANA. This solution was incubated and/or funded by SAP.iO SAP S/4HANA. Check out a product video here and find them on the SAP Store here.
MaintainX – Maintenance & Asset Management
By MaintainX
Empower frontline teams to improve maintenance, safety, and operations
This mobile-first maintenance and asset management platform empowers frontline teams to add production hours by reducing equipment downtime. Enrich your ERP records with accurate data on work orders, assets, parts inventory, and purchase orders through SAP S/4HANA Cloud and on-premise. A partner that is a member of SAP’s curated startup ecosystem. Check out a product video here and find them on the SAP Store here.
Zerynth for SAP S/4HANA
By Zerynth S.p.A.
Easily connect any industrial machinery with your SAP S/4HANA system
Industrial IoT solution designed to extract data from any industrial machine in less than three hours, seamlessly integrated with SAP S/4HANA. Users can collect data from heterogenous assets on their shop floor and leverage SAP products to enhance process visibility. Check out a product video here and find them on the SAP Store here.
Pirika Technology to Eliminate Plastic Pollution
By Pirika.inc
Platform for visualizing the implementation status of environmental measures
This platform enables visualization of the status of environmental measures of municipalities. SAP Analytics Cloud and SAP Data Warehouse Cloud are used to integrate and visualize the status of municipalities’ environmental policy implementation. A partner that is a member of SAP’s curated startup ecosystem. Check out a product video here and find them on the SAP Store here.
Infiviz
By Infilect Technologies Private Limited
Advanced Image Recognition and Retail Execution Analytics for CPG
Infiviz provides CPG leaders with the most accurate and instant in-store execution analytics delivered to optimize retail execution and simplify decision making. With real-time instore insights on SOS, OSA etc., Sales leaders can boost in-store sales. Infiviz is integrated with SAP Sales Cloud. A partner that is a member of SAP’s curated startup ecosystem. Check out a product video here and find them on the SAP Store here.
goFlux Platform
By goFlux Technology Ltd
Leading B2B freight-trading platform for transportation-heavy users in Brazil
Our B2B freight-trading platform, integrated with SAP Business Network, provides comprehensive solutions for quoting, contracting, and managing freights. The main benefits we offer include compliance in the quoting process, which enhances cost savings and productivity. A partner that is a member of SAP’s curated startup ecosystem. Check a product video here and find them out on the SAP Store here.
CamCom Automotive Damage Assessment
By CamCom Technologies Private Limited
The most accurate automotive damage assessment AI platform in the world
With over 3 million inspections per annum, this intuitive AI-powered platform integrates with SAP S/4HANA and understands every type of vehicle damage, enabling 96% macro-level damage assessment accuracy, resulting in the creation of transparent and objective estimates. A partner that is a member of SAP’s curated startup ecosystem. Check a product video here and find them out on the SAP Store here.
GMetri
By GMETRI INC
Revolutionize employee onboarding with an immersive Metaverse platform
Revolutionize employee onboarding with an immersive, no-code Metaverse platform. Seamlessly integrating with SAP SuccessFactors, the platform accelerates learning and boosts engagement from day one. A partner that is a member of SAP’s curated startup ecosystem. Check out a product video here and find them on the SAP Store here.
AI Bruna
By Altum Lab
Optimize your Agro production with an AI-powered solution
AI-powered solution integrated with SAP BTP to take the data available in the Intelligent Agriculture module and through its three modules, makes predictions of the quality of the raw material. Then, using those results, it suggests how to improve it and use it to satisfy commercial contracts. A partner that is a member of SAP’s curated startup ecosystem. Check out a product video here and find them on the SAP Store here.
SAP.iO’s ecosystem of successful raises and exits
June 2023
SAP.iO has curated over 525 startups in SAP’s startup ecosystem. We’re proud that many of the startups from our programs continue to raise VC funding and have successful exits. This demonstrates that SAP startup technologies are addressing the rapidly changing requirements of the marketplace and have risen to the occasion of meeting customer needs. Here are the latest raises and exits you should know about!
Funding
Sparetech, a Stuttgart, Germany-based provider of a data platform for industrial spare parts, raised $10M in Series A funding. The company intends to use the funds to scale internationally. Sparetech has served more than 120 global manufacturing companies, such as Bosch, Nestlé, Porsche, Yanfeng, and Airbus Helicopters.
Humanly, a Seattle startup that helps companies automate their recruiting functions, raised $12 million to help fuel growth of its AI-powered software. Customers such as Microsoft, the Seattle Storm, and Moss Adams use Humanly to screen job candidates, schedule interviews, automate initial communication, run reference checks, and more.
SustainCERT, a Livange, Luxembourg-based climate impact verification company, raised $37M in Series B funding. The company intends to use the funds to invest in the acceleration of the commercial, organizational and technology scale up to support the growth of its recently launched value chain decarbonization impact solution for Scope 3 emissions and the soon to be launched digital verification solution for carbon markets.
Sust Global closed a $1.5M seed round on June 2nd from a Venture – Series Unknown round.
Exits
Ecoplant, which develops technology to increase energy efficiency and reduce air pollution in factories, was acquired by American industrial giant Ingersoll Rand. Industry sources estimate that the deal is valued at $40-50 million.
Sensire, a leading provider of medical and food safety software solutions, was acquired by Main Capital Partners. Main will support Sensire in its continued organic growth journey both in Finland and internationally as well as supporting with a selective buy & build strategy.
Andjaro was acquired by Silae to tackle the issue of replacements. Since last September, Silae has further accelerated by buying 6 companies including a new one this June: Andjaro.
