funding – DevopsCurry

Workforce LayOffs 2023: Airtable, low-code software platform to layoff about 27 per cent of the workforce

Admin-Devopscurry — Mon, 18 Sep 2023 15:45:57 +0000

Workforce ; The latest startup to join the layoff winter is Airtable, a low-code platform for building collaborative app has announced to lay off about 27 per cent of the workforce or 237 employees, in the second round of job cuts.

The company CEO, Howie Liu in a message to its employees revealed that the company will be offering severance pay and compensation to the impacted employees. The company has also announced the employees will also get 6 months of healthcare premium coverage, along with an additional cash payment to cover other Airtable-provided benefits for the next 60 days.

The layoffs will be company-wide, with the largest impact on product and sales teams focused on selling and servicing smaller clients, the report mentioned. In December last year, Airtable laid off over 250 employees, or 20 percent of its workforce across business development, engineering, and other teams.

“The market has tipped towards favouring efficient growth over growth at all costs. We must operate the business in a more mature way that puts us on a path to become a public company and to have durability and efficiency in how we grow,” Howie Liu, Airtable’s founder and CEO, was quoted as saying.

Airtable was founded in 2013 by Liu and Co-founders Andrew Ofstad and Emmett Nicholas, as a cloud-based spreadsheet startup to rival Microsoft Excel. The Airtable app is a cloud-based relational database that looks like a spreadhseet and can be used by nontechnical workers to analyze data as well as plan and collaborate on projects. Airtable currently has six offices across the globe.

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FinTech startup CredRight Secures $9.7 Mn Funding to Expand Credit Access for MSMEs

Admin-Devopscurry — Fri, 01 Sep 2023 08:21:54 +0000

FinTech startup, CredRight, based in Hyderabad, has successfully raised approximately $9.7m, a combination of both equity and debt.

Leading the equity capital funding was the Michael & Susan Dell Foundation, according to a report from Entrackr. They were accompanied by existing investors such as YourNest, Spearhead Capital, 9Unicorns, and Accion Venture Lab. On the debt capital front, the funding was generously provided by Blacksoil, Caspian Debt, RevX Capital, and Westen Capital.

The Hyderabad-based fintech, founded in 2016 by Neeraj Bansal and Vineet Jawa, aims to bridge the credit gap for micro, small and medium enterprises (MSMEs) in Tier-3 and 4 towns.

“We have served more than 5,000 nano enterprises, and this fundraise will help us expand our reach exponentially. Our phygital model, unique underwriting ability and deep understanding of nano enterprises helps us reach remote areas and provide meaningful loans whilst ensuring profitability,” said Bansal.

According to the Reserve Bank of India (RBI), only 10 per cent of MSMEs have access to formal finance. This lacuna is compounded by the limited ability of commercial banks and traditional lending institutions to extend their services to remote locations.

CredRight aims to connect lenders with small business owners and avert the latter’s dependence on high-interest moneylenders.

According to the company, nearly 63 million MSMEs in India face a credit shortfall of around $500 billion.

CredRight’s remarkable growth over the past three years, experiencing a 10x increase in its assets under management (AUM), exemplifies its impact. The company is now aiming for an AUM of INR 2,000 crore over the next three years.

Previously,in September 2021, CredRight had another financial win by raising $2.7m in an investment round, led predominantly by 9Unicorns amongst others.

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Self-serve infrastructure management platform from India, Facets.cloud Raises $4 Mn

Admin-Devopscurry — Fri, 01 Sep 2023 07:31:36 +0000

Self-serve infrastructure management platform Facets.cloud has raised $4 Mn in a seed funding round led by 3one4 Capital.
Other investors who participated in the round were 100x Entrepreneurs (now Neon), and prominent angels like Abhinav Asthana, Pallav Nadhani, Aneesh Reddy, Krishna Mehra, and Sreedhar Pedinneni , among others.

Facets .cloud aims to use this capital to expand in the US market, promote and advance the platform engineering philosophy, and enhance its product offerings.
Founded in 2021 by IIT Kharagpur alumni Anshul Sao, Pravanjan Choudhury and Rohit Raveendran , the startup helps improve developer productivity by streamlining cloud deployment workflows.

Facets.cloud was co-founded in 2021 by Anshul Sao, Pravanjan Choudhury, and Rohit Raveendran – all three are alumni of the Indian Institute of Technology, Kharagpur.
The platform enables self-service infrastructure management for companies with large and complex DevOps setups by automating the last mile of cloud delivery as a product – eliminating the need for organizations to build platforms in-house.

Before starting Facets, Choudhury worked as the Chief Technology Officer of Capillary Technologies for close to ten years. Anshul Sao previously served as Chief Architect at Capillary Technologies and worked at Yahoo, while Rohit Raveendran was the Principal Architect at Capillary.

Funding details
* Funding amount: $4,000,000
* Lead investor: 3one4 Capital
* Other investors: Neon, Abhinav Asthana, Pallav Nadhani, Aneesh Reddy, Krishna Mehra, Sreedhar Pedinneni
* Stage: Seed

“Facets is a game-changer for complex DevOps setups. By automating last-mile cloud delivery as a product, it empowers businesses with self-service infrastructure management, enabling enhanced efficiency and positioning them as industry leaders,” said Anurag Ramdasan, the lead partner from 3one4 Capital.

According to him, this approach of productizing internal platforms for developer self-service is gaining huge momentum among tech-first organizations.

Facets’ clients include the likes of MPL, Treebo, Capillary Technologies, and Purplle.

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Airtable, the spreadsheet startup raises $185 million Series D in funding

Admin-Devopscurry — Mon, 21 Sep 2020 10:30:34 +0000

Airtable, the spreadsheet-with database startup, based out San Francisco, California, confirmed its latest $185 million Series D funding round, led by existing investor Thrive Capital. Existing investors, including Benchmark,CRV and Coatue Management, also participated.

This new D series round more than doubles Airtable’s existing $1.1 billion valuation it had in 2018. Airtable has raised more than $350 million till date, said a company spokesperson.

Airtable, which was founded in 2012 and formerly known as Formagrid, competes with the likes of Google Sheets and Microsoft Excel. Although it doesn’t match the number-crunching ability of Excel, but instead aims to offer a more user-friendly design suitable for consumers or businesses.

Some of the company’s existing customers include Netflix, HBO, Condé Nast Entertainment, TIME, City of Los Angeles, IBM, Robinhood, Equinox, and 200,000 other brands.

The company has a vision to make it easier for people without a technical background to build productivity tools.

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StackRox the DevSecOps startup receives $26.5M in recent funding from Menlo Ventures

Admin-Devopscurry — Thu, 10 Sep 2020 16:30:19 +0000

StackRox, the DevSecOps startup based out of Mountain View, California has secured $26.5 Million in funding in the latest round led by Menlo Ventures. Menlo Ventures initiated the funding round with active participation from Highland Capital Partners and Hewlett-Packard Enterprise along with StackRox’s existing investors, Redpoint Ventures and Sequoia Capital.

StackRox’s Chief Executive Kamal Shah quoted: “Companies are adopting containers and Kubernetes at a record pace to enable the rapid application development that’s needed for business innovation.”

“The pandemic has heightened the urgency for innovation and remote work has added far greater security demands. As a result, we’re seeing substantial growth in demand for our Kubernetes-native security platform compared to legacy container security solutions.”

StackRox was ounded in 2014, and provides Kubernetes-native security platform for cloud-native applications, containers, serverless operating into the DevSecOps space within DevOps.

The StackRox Kubernetes Security Platform enables security and DevOps teams to enforce their compliance and security policies across the entire container life cycle, from build to deploy to runtime. StackRox integrates with existing DevOps and security tools, enabling teams to quickly operationalize container and Kubernetes security

Since last few years containers and kubernetes have become ubiquitous tools in DevOps ecosystem, in how organisations will manage their deployment workloads, a trend that has only accelerated in the last few years with a predominant shift to public cloud platforms. Alongside that, the new age startups are also heavily using containers to build up and deploy their application stack.

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Nirmata, a kubernetes startup receives funding from Arka Venture Labs

Admin-Devopscurry — Wed, 09 Sep 2020 06:59:54 +0000

San Jose, California headquartered Kubernetes management company Nirmata has raised an undisclosed amount of funding from Arka Venture Labs.

The new funds will let Nirmata expand its engineering, sales, support and marketing areas in the Asia Pacific region, according to a statement.

Radhesh Kanumury, Managing Partner at Arka Venture Labs, said in a statement:

“WE LIKED THE STRONG CREDENTIALS OF THE FOUNDERS AND THEIR ABILITY TO PROVIDE A COMPLETE SOLUTION TO SOLVE THE DAY 2 KUBERNETES PROBLEM OF SOME OF THE FORTUNE 500 COMPANIES WITH THEIR PATENTED PLATFORM.”

Nirmata, the Day 2 Kubernetes company was founded in 2013 by Damien Toledo, Ritesh Patel and Jim Bugwadia. Nirmata is a cloud-based platform that offers automation for deploying, operating and optimizing Kubernetes applications.

Recently, Nirmata had also announced its partnership with Amazon for a new product offering, the Nirmata EKS Manager, which eliminates Day 2 challenges faced by Amazon Elastic Kubernetes Service users.

Nirmata EKS Manager is available as an offering in the AWS marketplace.

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