Banked adds investment and bank partners furthering development and expansion of its global Pay by Bank network

LONDON, Nov. 15, 2022 /PRNewswire/ — Banked Ltd (“Banked”), the London-based fintech company building a next-gen global payment network, today announced that it has raised over $15 million in a Series A extension round, led by global software investor Insight Partners. The investment round was supported by Citi and National Australia Bank Ventures, recognizing Banked’s traction and distinct approach to building a Pay by Bank global network. Newly announced commercial partner and global payments firm Rapyd also participated in the round.

The extension came as a result of an oversubscribed Series A earlier this year that was led by Bank of America. This latest infusion of capital brings Banked’s total investment raised to date to over $50 million and includes the participation of new global investors supporting the company’s expansion into new geographies with a focus on the U.S.

Insight Partners is an experienced investor in the open banking space, having previously invested in Tink AB which was acquired by VISA last year. The growth and expansion adds to the major partnership Banked announced earlier in the year with Bank of America. In a demonstration of Banked’s commitment to the US and as a signal for how important the country will be to its future strategy, Banked opened an office in Palo Alto, California and CEO Brad Goodall has relocated from London to lead this expansion.

Banked now has close to 100 staff and is growing at a time when many fintech rivals and the industry at large have been put under huge pressure to consolidate. This is due to increasing merchant demand and accelerated interest by banks to play a role in the expansion and commercialisation of real time payment rails globally.

Pay by Bank is taking off globally. Leading banks recognise the significant opportunity it presents to improve the end-customer experience and merchant value proposition. This is supported by increasing merchant demand driving use cases for Pay by Bank in the enterprise B2B and B2C space. There is a queue forming to be part of the new payment network and to help shape its future with a seat at the table. Banked has a unique partnership model which relies on global go-to-market partners in the shape of banks, PSPs and technology platforms. This means we have had to build real depth and capability in areas such as risk and compliance, security, consumer protection, platform scalability and most importantly feature rich user experiences for our partners and their clients and customers. Banked has been heads down building products and partnerships for four years and it is exciting to be launching markets globally at pace now.”
–  Brad Goodall, Banked : CEO

Of the new investors, Goodall says, “Insight Partners is an amazing global firm with such strength in the payments and fintech space. To increase our share price in this current market with overwhelming demand from investors, I couldn’t be happier to have Insight onboard to build what is a multibillion-dollar opportunity. I am also excited that Citi, NAB and Rapyd are joining as it shows that Banked has real strength in working with the biggest and best banks and payment firms in the world.”

“Banked has a huge ambition and we believe they have built the team and product to tackle such an exciting opportunity in payments. There are many ways to approach the problem, and Banked’s unique strategy in partnering with commercial banks and payment service providers, as well as their product capabilities, stood out to us.”
–  Byron Lichtenstein, Insight Partners

Founded in 2018, Banked is aiming to become the leading provider of alternatives to card payment methods.  Unlike other mainstream global payment methods, users do not need to create an account or pass any login information to Banked – they simply choose their existing bank at checkout and are securely connected to their mobile banking app to biometrically authenticate the purchase. Total checkout time for a first-time user is under 30 seconds and no financial details are shared with Banked, which boosts security. For merchants, costs are significantly lower and transactions take place in real time and settle instantly. The market for Pay by Bank payments is growing rapidly. Recent research by Allied Market Research predicts the market will reach $43 billion by 2026 in Europe alone.  Banked has established consumer appeal by building a brand, a best-in-class user experience and instant refunds. It has also added incentives including a reward programme with British Airways.

About Banked
Banked is the architect of a new global payment network offering a real alternative to the card schemes. Consumers now have a way to pay without entering financial data and connecting directly with their mobile banking app. There is no need to create an account, no financial details are shared, authorisation is biometric, and the merchant receives the funds in real time and in full. Fees are up to 90% lower than the traditional payment methods and fraud is virtually eliminated which should help promote lower prices for consumers. Banked also enables businesses to drive customer engagement and loyalty with incentives and rewards integrated into the payment experience.

For more information, visit www.banked.com

About Insight
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

Buynomics Raises €13M in Series A Funding to Power the Operating System for Commercial Decisions

COLOGNE, Germany, Nov. 15, 2022 /PRNewswire/ — Buynomics, the SaaS platform to support enterprise customers with their commercial decisions, today announced that it has raised a €13M Series A round. The new funding will be used to widen Buynomics’ lead in predicting consumer behavior in the field of revenue management and commercial decisions, grow the product and commercial teams, and expand into the US market. This latest funding round was led by global software investor Insight Partners with participation from existing investors LaFamiglia, Seedcamp, Dieter von Holtzbrinck Ventures (DvH Ventures), and Tomahawk.

Based in Cologne, Germany, Buynomics leverages machine learning (ML) and insights from behavioral economics to simulate how consumers make purchasing decisions. Currently, many revenue management and marketing teams run on overly simplistic tools that use price elasticities and customer segmentations to understand how consumers react to offer changes. These methods are rooted in economic tools that were developed more than 150 years ago and have improved little since. Buynomics has developed the Virtual Customer technology that models the preferences and buying decisions of large groups of individual customers. This technology allows Buynomics to take full advantage of recent developments in ML and to integrate large amounts of data from a broad range of sources such as transaction or survey data. This results in unparalleled precision and the ability to cover a much wider range of revenue management capabilities to clients, including the optimization of price changes, promotions, and product innovations.

In this dynamic environment, where brands are trying to rethink their operating models, Buynomics enables a deeper understanding of the value consumers assign to individual products,” said Ingo Reinhardt, co-founder and Managing Director of Buynomics. Today, businesses must react faster to competitor moves or cost increases and be able to identify growth opportunities. Traditional – often Excel-based – solutions are no longer sufficient. “As the pressure for corporations continues to mount, Buynomics strives to become the operating system for all commercial decisions,” he adds.

Buynomics provides a simulation-based pricing platform to help companies optimize revenue and profits. Large companies have typically relied on consultants or in-house solutions to drive these decisions; however, Buynomics’ software solution for offer optimization generates significantly stronger ROI than consultants, empowering customers to run their own pricing simulations” said Max Wolff, Principal at Insight Partners. “Buynomics’ leading technology and proven traction across markets have already made them stand out. We look forward to partnering with the Buynomics team on their growth journey to build the operating system for all commercial decisions.

Having seen rapid growth since its Seed financing in 2021, Buynomics will invest its new funds in three key areas. First, in the product team to accelerate product innovation and fully transition from a revenue management application into a full-service suite for commercial decisions. Second, in the global commercial team to accelerate the onboarding and rollout in its key focus industries, including Fast Moving Consumer Goods, Telco, and Software. Specifically, Buynomics plans to open its US office in Q1, 2023. Third, Buynomics will further build its role as a thought leader in the field of revenue management and commercial decisions by adding further content formats. “We are currently convincing most of our clients with our webinars and white papers. We see a clear need for high-quality content and are in a prime position to deliver it“, says Sebastian Baier, co-founder and Managing Director of Buynomics.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

About Buynomics

Buynomics is a next-generation analytics platform to empower better, more profitable decisions about revenue optimization leading to sustainable profit growth. Buynomics employs AI with large-scale simulation technologies to digitize customers and predict their purchase behavior in any environment. Companies use Buynomics to make data-driven decisions about their current and new products, overall portfolio structure, pricing, promotions, trade terms, and more. Founded in 2018 by Dr. Ingo Reinhardt, Dr. Sebastian Baier and Dr. Emilio Matthaei, the startup has a diverse team of over 50 people with 17 different nationalities and is headquartered in Cologne, Germany.

For more information on Buynomics, visit www.buynomics.com.

Cybersecurity Startup Veriti Emerges From Stealth, Announces Over $18 Million in Funding

TEL AVIV, Israel, Nov. 8, 2022 /PRNewswire/ — Veriti, a fast-growing security infrastructure innovator, today emerged from stealth with $18.5 million in total funding. The funding consists of a $12 million round led by global software investor Insight Partners, which followed a $6.5 million round led by NFX and AMITI. The new funding will help the company scale to meet its growing customer base and further enhance its Unified Security Posture Management platform functionality.

Founded in 2021 by unit 8200 veterans and ex-Check Point executives Adi Ikan, CEO, and Oren Koren, CPO, Veriti amplifies security teams’ efforts to reduce risk and maximize their organization’s security posture. To do this, Veriti provides a consolidated security platform that proactively and continually identifies and remediates security gaps and misconfigurations across the entire infrastructure while ensuring business uptime.

Veriti’s Solution

Cybersecurity is broken. Too many disparate, nonintegrated solutions deployed in every organization create murky visibility into the security infrastructure and introduce inherent management complexities and inadvertent security gaps. These gaps are the main drivers of security breaches, such as the notable case of Equifax.

To develop its solution, Veriti conducted extensive research and listened to hundreds of CISOs and IT directors from a wide array of industries talk about the challenges of maintaining their security posture. The end product is a cutting-edge security platform that provides holistic visibility, proactive monitoring, and contextual, actionable insights. Veriti’s unique platform integrates with the entire security stack and consistently evaluates the organization’s risk posture by analyzing security configurations, logs, sensor telemetries, and threat intelligence feeds.

“The premise that security professionals are doomed to struggle with complexity and operational inefficiency to secure the enterprise is false,” said Adi Ikan, CEO, and co-founder of Veriti. “We have a well-versed team focused on creating a streamlined, frictionless management experience for all security teams to reduce effort and time spent in manual oversight. Insight Partners, NFX, Amiti, and Merlin Ventures all have vast resources and experience in cybersecurity, and we are extremely excited to be working with them as we continue to redefine security posture management on a larger scale.”

Unlike any other security management platform available today, Veriti takes a holistic approach to both the security infrastructure and the IT organization to maximize security and the ROI of every deployed solution. The platform helps IT organizations understand the status of their cybersecurity investment, how and which business applications are being impacted by security solutions, and how to improve both with effective automation and machine learning.

“We believe organizations deserve to manage their overall security posture free of pain points, frustrations, and with better efficacy,” said Oren Koren, CPO, and co-founder. “Leveraging our vast knowledge and expertise in both cyber-offense and defense, we have created a unique security-posture management platform that helps security teams bridge the knowledge gap between their current posture and the one they can achieve while minimizing adverse impacts to business applications and the user experience.”

The Investment

“Veriti has listened to the CISO community’s concerns around tool fatigue and created a game-changing platform that consolidates security controls into one unified console. This unique cross-team collaboration platform makes it easier for all security teams to take part in reducing risk and improving their organizations’ overall posture,” said Stephen Ward, Managing Director at Insight Partners and former CISO at The Home Depot and TIAA. “It is rare to see a security technology that directly tackles the most acute cyber challenges the way Veriti does.”

“When I first met Adi and Oren, I was impressed with their passion, strong technical experience, and deep understanding of their domain,” said Gigi Levy-Weiss, Founding Partner, NFX. “Veriti’s revolutionary approach solves the top infrastructure and security operations problems every enterprise has suffered for many years. With its robust product offerings and the amount of traction this solution gets, the opportunity is massive, and we are excited to partner with the team as they continue to grow and scale up.”

About Veriti

Veriti is a fast-growing security infrastructure innovator that helps organizations maximize their security posture while ensuring business uptime. Integrated with the entire security stack, Veriti provides a consolidated management layer that continually and proactively monitors exposure to threats and provides actionable remediation paths for security gaps and high-risk vulnerabilities across the organization’s infrastructure and attack surface. Veriti is backed by Insight Partners, NFX, AMITI, and Merlin Ventures. For more information, visit veriti.ai and follow us on LinkedIn and Twitter.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

Canary Technologies Raises $30M In Series B Funding To Accelerate the Modernization of Guest Facing Technologies At Hotels Around the Globe

SAN FRANCISCO, Oct. 27, 2022 /PRNewswire/ — Canary Technologies, which is modernizing the hotel tech stack with the first fully mobile web end-to-end Guest Management System and its award-winning Digital Authorization solution, announced today that it has raised an additional $30 million in Series B funding led by global software investor Insight Partners, with continued participation from F-Prime Capital, Y-Combinator, Thayer Ventures, Commerce Ventures, and others. This brings the company’s total fundraising to date to $45 million.

Canary has continued to experience significant growth due to the accelerating demand for guest-facing technology solutions in the hospitality industry. This latest round of funding will be used to expand the team to keep up with high customer demand globally, and enhance the platform’s solutions.

Canary Technologies is trusted by thousands of hotels in more than 75 countries and has partnered with notable global brands, including Four Seasons, Best Western, Rosewood Hotels, and Radisson hotels.

“Canary’s mission is to help hotel operators modernize their tech stacks to deliver the best guest experience possible and remain competitive in the evolving lodging landscape,” said Harman Singh Narula, Co-founder of Canary Technologies. “Guests want to engage with digital solutions, like Contactless Check-In and Digital Tipping, and hoteliers are increasingly adopting Canary’s platform to meet this demand and streamline operations. Insight Partners has a wealth of experience with vertical software companies and we’re excited to work together to continue to accelerate our growth across the globe,” said Narula.

The Canary Technologies platform offers an array of products that cater to the specific needs of the hoteliers, including Contactless Check-in, Contactless Checkout, Guest Messaging, Digital Upsells, Digital Tipping, Digital Authorizations and Digital Contracts. The company has seen exponential adoption of its platform which has helped hoteliers increase revenue, improve the guest experience and reduce chargebacks and fraud around the globe.

“We have been really impressed with the durable business that the Canary team has built and their ability to accelerate growth, even during uncertain market conditions,” said Thomas Krane, Managing Director at Insight Partners. “This is a testament to the best-in-class solutions Canary provides to hoteliers as they look to meet the digital experiences that the modern guests demand.  We’re very excited to partner with Harman, SJ, and the entire Canary Technologies team to support their growth as they help drive technology in hospitality forward.”

“Over the past few years, we’ve seen hoteliers everywhere proactively seek out the guest-facing technology solutions Canary provides,” said SJ Sawhney, Co-founder of Canary Technologies. “A lot is happening in the guest-facing tech space and hoteliers are prioritizing this. We have a robust roadmap and are excited to use additional resources to further accelerate our development of even more advanced tools and in-depth services for our hotel partners around the world. Our growth is a testament to the Canary team which continues to innovate with our amazing hotel partners.”

“Guests expect magical customer experiences and hotels deserve modern technology solutions that can meet those demands. Canary has proven it can innovate and deliver, time and time again, on where the hotel market is going. They are well on their way to being the modern guest facing platform in the hotel industry and have an enormous opportunity to reach hundreds of thousands of hotels worldwide. We’re excited to continue supporting the team in the next phase of growth,” said Gaurav Tuli, Partner at F-Prime Capital

Co-founded by long-time friends and industry veterans, Narula and Sawhney bring years of experience in hospitality and technology to Canary Technologies. Narula was previously a member of the Global Strategy team at Starwood Hotels and Resorts and a management consultant at Bain & Company, where he advised senior executives in hospitality and technology. He is a graduate of the renowned Cornell School of Hotel Administration and the Wharton School of the University of Pennsylvania. Prior to co-founding Canary, Sawhney led product and technology at Stayful, a booking platform for independent and boutique hotels founded by the former president of Hotels.com. Sawhney is a serial entrepreneur, having successfully founded multiple venture-backed technology companies over the prior decade. He is a graduate of Columbia University.

For more information, visit https://www.canarytechnologies.com.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

About Canary Technologies

Canary Technologies is modernizing the hotel tech stack with the first mobile web end-to-end Guest Management System and its award-winning Digital Authorizations solutions. Digitizing everything from post-booking through checkout, Canary is trusted by more than 20k hoteliers in more than 70 countries, including Four Seasons, Choice Hotels, Radisson Hotels and Ace Hotel Group. Canary’s solutions help hotels eliminate paper processes, boost revenue with upsells, raise staff efficiency, ensure PCI compliance, improve the guest experience, and reduce chargebacks and payment fraud. Learn more at canarytechnologies.com.

DevOps Modernization Platform Devtron Announces $12 Million in Funding from Global Software Investor Insight Partners

Devtron, the open source internal DevOps platform democratizing Kubernetes adoption, announced today that it has raised $12 million in newfunding led by global software investor Insight Partners. The new round follows previous investments from Leo Capital and several marquee angels. Devtron will use the new capital to scale its team, drive adoption of its platform and expand into new markets.

The cloud-native space has seen the introduction of a wide array of open source DevOps tools built for solving for very specific use cases, and as a result, DevOps teams today have too many narrow choices. Moreover, these tools are not built to work together seamlessly or be integrated into a singular platform to empower the development team.

This is where Devtron steps in. Devtron provides a low-code software delivery platform for Kubernetes built on popular open source tools like Argo and Clair. The platform encompasses cluster provisioning, application management, and security among other functionality in the CI/CD workflow. Devtron takes a visual-first approach by providing a GUI that abstracts away underlying infrastructure, enabling intuitive features like one-click deployment on a central dashboard. Conceptualized as “DevOps in a box,” startups and growth-focused mid-sized enterprises using Devtron’s platform can focus on building their core business and competitive advantage while Devtron quickly matures DevOps practices within the organization, enabling significant resource optimization by providing autonomy to the development team.

With Devtron, companies have been able to reduce their Kubernetes maturity journey from a year to months. In some cases, companies with more than 50 microservices have onboarded Kubernetes within 15 days. Additionally, post-adoption companies have witnessed 5x improvement in their deployment speed with more than 90% reduction in their change failure rate and 70% reduction in mean time to recovery.

“We are elated to have Insight Partners join our board together with the continued trust of Leo Capital and other angel investors,” said Prashant Ghildiyal, Co-Founder and CEO of Devtron, and Rajesh Razdan, Co-Founder and CBO. “Since becoming open source, we have seen thousands of nimble startups across the globe installing Devtron every month along with many fast-growing startups as our commercial customers. It’s an exciting time of growth and development of our market-defining product.”

“Devtron integrates with products across the lifecycle of microservices, and in particular Kubernetes, enabling its users to deploy faster and automate their CI/CD pipelines without worrying about Kubernetes knowhow. This saves significant time and resources to build and deploy in production,” said Josh Zelman, Principal at Insight Partners. “We couldn’t be more excited to partner with Prashant, Nishant and Rajesh on this exciting next chapter in Devtron’s growth journey.”

Devtron was co-founded in 2019 by Prashant Ghildiyal, Nishant Kumar & Rajesh Razdan. In their previous roles as Head of Technology and software architects in fast growing, category-leading startups, Prashant and Nishant experienced the challenges of scaling DevOps firsthand. Each startup would build their own Frankenstein version of a DevOps platform by gluing together disparate open source tools built by different organizations, which would push their product roadmap back months, if not years. This is where the roots of Devtron first germinated. Rajesh, an angel investor and seasoned entrepreneur with an enterprise software background, immediately identified the value of this platform and joined forces with Prashant and Nishant.

About Devtron

Devtron is a software delivery platform for Application management on Kubernetes. It enables DevOps team to quickly improve the maturity of the DevOps practices within the organization by providing autonomy to the development team along with a fully collaborated environment overseen by the DevOps team. Based in the US and India, Devtron has seen continued adoption across US, Europe and India with some of the fast growing companies as its heavy users For more information about Devtron, visit https://devtron.ai/ or follow us on Twitter @DevtronL

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

Fermyon Gives Developers Instant Self-Service for WebAssembly Microservice Application Deployment With Fermyon Cloud, Closes $20 Million Series A Funding Led by Insight Partners in Q3

LONGMONT, Colo., Oct. 24, 2022 (GLOBE NEWSWIRE) — Today at the Cloud Native Wasm Day, Fermyon Technologies, the WebAssembly in the Cloud company, introduced Fermyon Cloud. Fermyon Cloud is a faster, lighter, easier and more secure hosted application platform for developers to build better microservices more quickly. It is in open beta starting today and will be featured this week at KubeCon + CloudNativeCon North America.

“WebAssembly is a ‘build once, run anywhere’ technology designed to enable apps to run inside the browser that is now being applied to solving cloud problems where speed and security are paramount. It has quickly become a foundation for the next wave of cloud computing alongside the container and virtual machine technologies already in use today. With Fermyon Spin, developers can quickly create WebAssembly microservice applications and now with Fermyon Cloud, developers can go from a blinking cursor to a deployed application in less than two minutes. This is the promise of WebAssembly realized in the cloud: fast development, fast deployment, fast execution,” said Matt Butcher, co-founder and CEO of Fermyon.

Butcher and Fermyon’s Radu Matei (CTO) experienced the pain of state-of-the-art cloud-native development first-hand while at Microsoft Azure. This led them to found Fermyon to empower developers to quickly realize the things they think about creating and focus on the code that brings value instead of spending cycles rewriting the same code over and over.

Earlier this year, Fermyon released two open source offerings:

Today Fermyon is releasing Fermyon Cloud, a hosted platform that can start up Spin applications in less than a millisecond, caching and optimizing applications as it loads them, providing blazing fast performance for each individual application. Developers can deploy applications nearly instantaneously, testing them in seconds. Time is no longer wasted waiting for cloud services to be provisioned and brought online. Built with a serverless API like AWS Lambda, Spin applications are not only quick to deploy but are easy to build as well.

Together, Fermyon Spin and Fermyon Cloud provide an end-to-end experience that gets the developer from a blinking cursor to a deployed app in minutes. As the developer iterates on their code, updating and redeploying is a breeze, with zero downtime and an easy-to-use dashboard for troubleshooting. Developers who prefer to host their own infrastructure can opt out of Fermyon Cloud and instead install their own instance of Fermyon Platform, the open source host-it-yourself version of Fermyon’s service.

Developers on Fermyon Cloud:

  • “The potential that WebAssembly has to shape the world is what attracted me to Spin and Fermyon for the first time. Then, when they created a hosted version where I didn’t have to do ANYTHING to deploy my apps, it was truly a game changer to uncover a new world full of capabilities,” said Raymundo Vásquez Ruiz.
  • “Finally the promise of true sustainable serverless cloud computing is here with Fermyon’s Cloud offering – a platform that allows me to use almost any language, is incredibly easy to use and blazingly fast,” said Federico Dionisi.

Fermyon Raises $20 Million Series A Funding
Today Fermyon also announced that it has raised $20 million in Series A funding, bringing the total raised to $26 million. The new round was led by Insight Partners with participation from previous investors Amplify Partners, Tyler McMullen (CTO of Fastly), Grant Miller (CEO of Replicated) and Marc Campbell (CTO at Replicated). Notable new angels include Armon Dadgar (co-founder and CTO of HashiCorp), Daniel Lopez Ridruejo (co-founder and former CEO of Bitnami now part of VMware) and Lachlan Evenson (Principal Program Manager on the open source team at Microsoft Azure).

“Like Docker did years ago with containers, we believe Fermyon will radically simplify software delivery with WebAssembly,” said Michael Yamnitsky, Managing Director at Insight Partners. “We couldn’t be more excited to partner with them as they pioneer the next wave of cloud computing.”

Fermyon plans to use the funding to continue to invest in serving the developer community and to productize Fermyon.

About Fermyon Technologies
Fermyon is pioneering the next wave of cloud computing with the first cloud-native WebAssembly PaaS that lets developers build better microservices faster. Fermyon is focused on empowering cloud developers to quickly realize the things they are thinking about creating and focus on the code that brings value instead of the obligatory foundation code. Fermyon was founded by the Deis Labs team at Microsoft and is backed by Insight Partners and Amplify Partners. For more information, go to https://www.fermyon.com or follow @fermyontech.

Relevize Raises $6M Seed Round to Continue Expanding Channel Activation Platform

BOSTON, Oct. 19, 2022 /PRNewswire/ — Relevize, the category leader in channel activation, announced today that it has raised a $6 million seed round led by global software investor Insight Partners, with participation from existing investors Hyperplane, Newfund, 1984.vc, and Weekend Fund. The latest round of funding will further accelerate product development as the company looks to enhance the platform’s engagement and reporting capabilities. Relevize is currently hiring for roles in marketing, product, and engineering as it looks to expand the team.

Relevize is the only platform that accelerates channel partner sales by giving software providers and their partners the ability to generate pipeline through digital acquisition channels. Started in 2020, Relevize automates the distribution of lead generation programs across digital platforms, including LinkedIn and Facebook, for channel partner programs. During the pandemic, channel marketing teams lost their most effective tactic to generate pipeline: in-person events. Leading software providers are also putting an increased emphasis on growing their channel sales as they look to shift revenue from direct to indirect. Consequently, channel marketing teams are left searching for new tactics to hit larger revenue goals. With Relevize, customers are able to pivot to partner-led digital distribution channels to efficiently generate pipeline.

“The Relevize platform is producing some of the highest quality leads of any program we have in place to support partner pipeline acceleration,” said Cindi Johnson, Senior Director, Global Partner Marketing at New Relic. “We see this platform as high potential and will continue using it as one of several key tactics to make a significant impact on our partners’ business success.”

Through the platform, software providers and their partners engage, track, and attribute leads to increase the return on investment from co-op and MDF funds. In the last year, Relevize customers, which include New Relic, Chili Piper, and WatchGuard Technologies, Inc, have realized a 20x multiple on ad spend to pipeline generated and an increase of 550% in pipeline generated through the platform in the last year.

“Channel-led GTM and digital-first marketing strategies are becoming need-to-have for enterprise companies to hit revenue targets. With this tactical shift, the transition of channel partners from strictly implementation partners to revenue generators is becoming critical, and we see Relevize as a catalyst for this transition,” said Julian Marcu of Insight Partners. “Relevize is pioneering a new category in the channel-led GTM tech stack, and is generating significant ROI for its customers and their partners via time-savings, visibility, and net-new lead generation.”  As part of this round, Julian Marcu of Insight Partners will be joining the Relevize Board of Directors.

“Channel marketing teams lack the tools to excel in their roles, and Relevize looks forward to continuing to bring world-class technology to help them achieve their revenue goals. We could not be more excited to work with Insight Partners on the next phase of Relevize’s growth,” said Michael Nardella, CEO & Co-founder of Relevize. “Insight Partners has been a catalyst for numerous pioneers in the sales and marketing software space, and we look forward to partnering with them as we continue to grow.”

About Relevize

Relevize is the only partner activation platform built for sellers and partners to maximize their channel sales revenue. Most solutions focus on direct sales but now that companies are putting a stronger emphasis on scaling through their partner networks, they need better support. By automating partner campaigns, Relevize enables channel sales teams to efficiently scale and increase visibility into their partner generated pipeline.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

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