Enterprise Weekly #448: What's Next For Cloud, Marketing Tactics, and More
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This week, Battery Ventures published a State of Open Cloud Report outlining how recent slow downs across the public and private cloud sectors are ripe for growth as AI investment kicks up.
“In many ways, this is a watershed moment for the industry, one that will change how software and technology companies are created.”
While the macro environment continues to stress test companies of all stages and the IPO market has yet to rebound, the question emerges: will this short-term pain result in long-term growth, spawning stronger, fitter, leaner companies? Battery says yes, and we agree. Why?
Implementation of new technology: Cloud adoption is rapidly expanding with AI, allowing companies to capture new efficiencies, generate new sources of revenue, while meaningfully reducing internal costs.
📚 Read more reports on the state of AI and adoption from Coatue and Retool.
Renewed focus on fundamentals: As we’ve encouraged our readers before, in challenging times, it's important to return to the fundamentals to better operate at low burn with high-margins. Companies are shifting their focus to improving profitability by adjusting sales, marketing, and operational spend.
New benchmarking metrics: The gold standards that guided companies in past years are not holding up for this generation. $1B is the new $100M when it comes to ARR. To get there, there’s a renewed focus on enterprise sales and logo velocity.
As a heads up, Enterprise Weekly will be taking off next week for the holiday. We hope everyone has a great Thanksgiving 🦃🍂
📚 Read more Work-Bench spotlights:
📚 Read more news:
MIT Tech Review: Behind Microsoft CEO Satya Nadella’s Push To Get AI Tools In Developers’ Hands
TechCrunch: Salesforce Names Denise Dresser to Succeed Lidiane Jones As CEO of Slack
TechCrunch: The Pros and Cons Of Open Source AI Business Models
WSJ: Companies Tried to Spend Less on Cloud Then AI Showed Up
📚 Read more (th)reads:
Company: Spring Health
Role: Account Executive
Technology: Mental Healthcare
Funding: $371M from Work-Bench, Northzone, Rethink, Kinnevik, Tiger Global
🌟 Company of the Week 🌟
Canopy raises $4M led by Kindred Ventures
Infrastructure / Dev Tools • Seed • Seattle, WA
Founders: Ryan Bartley (CEO), Morgan Dollard (CPO)
Fractl raises $1M led by WestWave Capital
Infrastructure & Dev Tools • Pre-Seed • Cupertino, CA
Layer Health raises $4M led by Google Ventures, General Catalyst and Inception Health
Data / AI / Machine Learning • Seed • Boston, MA
Tradespace raises $4.2M led by Eniac Ventures
Future of Work • Seed • San Francisco, CA
Siena AI raises $4.7M led by Sierra Ventures, Village Global and Others
Sales / Marketing • Seed • San Francisco, CA
Qevlar AI raises $4.9M led by EQT Ventures
Risk / Security • Seed • Paris, France
Aikido Security raises $5.4M led by Notion Capital and Connect Ventures
Risk / Security • Seed • Ghent, Belgium
Radicl raises $9M led by Paladin Capital Group
Risk / Security • Seed • Boulder, CO
Martian raises $9M led by NEA
Infrastructure / Dev Tools • Seed • San Francisco, CA
Solvimon raises $9.6M led by Northzone
Future of Work • Seed • Utrecht, Netherlands
Bloom raises $10M led by Octopus Ventures and MMC Ventures
HR Tech • Seed • London, UK
Retorio raises $10M led by SquareOne
Future of Work • Series A • Munich, German
Refine Intelligence raises $13M led by Glilot Capital Partners and Fin Capital
Risk / Security • Seed • Tel Aviv, Israel
Radiant Security raises $15M led by Next47
Risk / Security • Series A • San Francisco, CA
VaultSpeed raises $15.9M led by Octopus Ventures
Data / AI / Machine Learning • Series A • Leuven, Belgium
Codegen raises $16M led by Thrive Capital
Infrastructure / Dev Tools • Series A • San Francisco, CA
Keychain raises $18M led by Lightspeed Venture Partners
Future of Work • Seed • New York, NY
OfferFit raises $25M led by Menlo Ventures
Sales / Marketing • Series B • Boston, MA
Puzzle raises $30M led by General Catalyst, Section32 and XYZ
Data / AI / Machine Learning • Venture • Wilmington, DE
Vulcan Cyber raises $55M led by Maor Investments and Ten Eleven Ventures
Risk / Security • Series B • Tel Aviv, Israel
Hightouch acquires HeadsUp for an Undisclosed Amount
Sales / Marketing • Acquisition • San Francisco, CA