Enterprise Weekly #400: Cloud(y) Earnings Seasons, NY Enterprise Tech Meetup, and More
Discover more from Enterprise Weekly
Enterprise Weekly #400: Cloud(y) Earnings Seasons, NY Enterprise Tech Meetup, and More
Welcome to our 400th Enterprise Weekly! 🎉 We’re excited that our mission to grow the enterprise tech ecosystem in NYC and beyond by delivering curated content across the community resonates with a growing 20,000+ readers. As always, if you have any feedback, please send it our way!
It’s earnings season. While cloud has been a notoriously strong player throughout the downturn, skies are looking gray:
Google Cloud reported $6.9B (up 37.6% YoY), while Alphabet reported $69B in revenue (only up 6%, a significant slowdown from 44% a year earlier).
Microsoft’s Intelligent Cloud business reported $20.3B in revenue, with Azure alone growing 35% YoY (a slowdown from the 46% growth over the past four quarters). Microsoft as a whole reported $50B in revenue (up 11% YoY, its weakest revenue growth in over five years).
AWS reported $20B in revenue (up 27% YoY), while Amazon reported $127B in revenue (up 15% YoY).
Of note, Google Cloud was the only to beat analyst expectations and gain any market share among the Big 3 (up 1%).
While there are many factors at play for the weak results (advertising, holiday shopping, PC demand, and more all down), there is a bright side - cloud continues to outpace overall company sales growth. Zooming out, the cloud market hit $57B this quarter (up 24% and $11B YoY).
Judging by these trends, as enterprises prepare for what could be a worsening downturn and act more prudently with their budget, cloud won't be the first item on the chopping block.
🗓️ Join more events:
November 8th: NY Enterprise Tech Meetup on “The Sales Playbook That Turbocharged Outreach from $0 to $200M” (in-person)
November 9th: Work-Bench Ask An Enterprise VC Anything (virtual)
📚 Read more news:
The Information: 50 Most Promising Startups
Primary Venture Partners: The First Sign of a Quiver in Quarterly NYC Seed Deals
TechCrunch: Code Analysis Tool AppMap Wants to Become Google Maps for Developers
WSJ: In the Future, There Will Be No Passwords—Because You Keep Giving Yours Away
Have a great weekend!
Company: Pace
Role: Full Stack Engineer
Technology: Product-Led Revenue Platform
Funding: $5M from Work-Bench and AlleyCorp
🌟 Company of the Week 🌟
Grafbase raises $5M led by Next47
Infrastructure / Dev Tools • Seed • Stockholm, Sweden
Founder: Fredrik Björk
Needl raises $2.5M led by Fuse, Y Combinator, Liquid 2 Ventures and Others
Future of Work • Seed • Seattle, WA
Ourspace raises $2.5M led by Connect Ventures
Future of Work • Pre-Seed • Paris, France
Pasito raises $3.25M led by Google and Y Combinator
HR Tech • Seed • New York, NY
Ciro raises $3.8M led by CRV
Sales / Marketing • Seed • San Francisco, CA
Bearer raises $4M led by Alven
Data / AI / Machine Learning • Seed 2 • San Francisco, CA
Surfe raises $4M led by 360 Capital
Collaboration / Productivity • Seed • Paris, France
Perygee raises $4.8M led by Ballistic Ventures
Risk / Security • Seed • Boston, MA
InfinyOn raises $5M led by Gradient Ventures and Fly Ventures
Data / AI / Machine Learning • Seed • Santa Clara, CA
Arnica raises $7M led by Joule Ventures and First Rays Venture Partners
Risk / Security • Seed • Atlanta, GA
Swantide raises $7M led by Menlo Ventures
Sales / Marketing • Seed • San Francisco, CA
Bit.io raises $7.5M led by Battery Ventures and GreatPoint Ventures
Infrastructure / Dev Tools • Seed • San Francisco, CA
Cosmonic raises $8.5M led by Vertex Ventures
Infrastructure / Dev Tools • Seed • Arlington, VA
Ask-AI raises $9M led by Vertex Ventures and State of Mind Ventures
Future of Work • Seed • Tel Aviv, Israel
Spyderbat raises $10M led by NTTVC
Risk / Security • Series A • Austin, TX
Devtron raises $12M led by Insight Partners
Infrastructure / Dev Tools • Venture • Del Mar, CA
SGNL.ai raises $12M led by Costanoa Ventures
Risk / Security • Seed • Palo Alto, CA
LatticeFlow raises $12M led by Atlantic Bridge and OpenOcean
Data / AI / Machine Learning • Series A • Zurich, Switzerland
Allstacks raises $12.3M led by Companyon Ventures
Collaboration / Productivity • Series A • Raleigh, NC
Cinchy raises $14.5M led by Forgepoint Capital
Data / AI / Machine Learning • Series B • Toronto, Canada
Keebo raises $15M led by True Ventures
Data / AI / Machine Learning • Series A • Ann Arbor, MI
SwiftConnect raises $17M led by JLL Spark and Navitas Capital
Future of Work • Series A • Stamford, CT
Fermyon raises $20M led by Insight Partners
Infrastructure / Dev Tools • Series A • Longmont, CO
PreVeil raises $20M led by PSG
Risk / Security • Series C • Boston, MA
Unito raises $20M led by CDPQ
Collaboration / Productivity • Series B • Montréal, Canada
Valence Security raises $25M led by M12
Risk / Security • Series A • Tel Aviv, Israel
Merge raises $55M led by Accel
Infrastructure / Dev Tools • Series B • New York, NY
HealthJoy raises $60M led by Valspring Capital
HR Tech • Series D • Chicago, IL
SiMa.ai raises $67M led by MSD Partners
Data / AI / Machine Learning • Venture • San Jose, CA
Versa raises $120M led by BlackRock
Risk / Security • Debt & Equity • Santa Clara, CA
Thoma Bravo and Sunstone Partners acquire UserTesting for $1.3B
Future of Work • Acquisition • San Francisco, CA