January Enterprise Highlights
2018 started off strong with surge in enterprise deal making. European ERP leader SAP continues to shift their focus to the cloud with their $2.4B acquisition of sales software firm Callidus. Large enterprise incumbents also continued their AI acquisition spree as iCIMS acquired Textrecruit, a candidate engagement platform that utilizes texts, chat and AI.
VC financing in enterprise cloud and AI was strong in january. We parsed through the enterprise financing noise and identified a number of interesting market trends:
- Data management and governance continues to be a hot area for growth stage investors as Snowflake ($263MM) and Collibra ($58MM) crunched the right data to raise big rounds.
- Startups reinventing existing categories with team collaboration features at the core continues to be an area of interest as Asana completed the task of raising $75MM for team task management and Front’s inbox just filled up with $66MM to manage shared team inboxes.
- The renaissance in logistics software is picking up steam as Fleet sails toward $10MM for shipping logistics and NEXT Trucking hauled in $21MM for yet another “Uber for trucking” marketplace.
- Attorneys have no objection to the activity in legal software. LogikCull discovered another $25MM for their eDiscovery platform, CS Disco danced its way to $20MM and Concord contracted $10MM for smart contracts.
- Finally, accountants are hoping their books still balance as AI accounting startups Bench ($18MM) and Botkeeper ($4.5MM) continue to close the GAAP between humans and AI.
- Eric Yuan, CEO and Founder of Zoom, has been named to Inc.’s 10 Most Inspiring Entrepreneurial Stories of 2017. We’re proud to partner with Eric and the Zoom team!
- Congratulations to Stacey Epstein, CEO of portfolio company Zinc. She was included in a list of 42 women in tech who crushed it in 2017.
- If AI is changing how we work, how should education change to prepare humans for those jobs? Emergence General Partner Gordon Ritter weighs in on this conversation.
- Portfolio company Textio was included as one of the fastest movers on the Geekwire 200 during 2017.
- Is This the Year Tech IPOs Stage a Comeback? Jason Green shares his insights on why we will see bigger deals in 2018, and how this will be the year for tech IPOs.
- General Partner Jason Green has been named to Harvard Business School’s inaugural group of Rock Venture Capital Partners, who provide in-person mentoring and advice to HBS student entrepreneurs.
- Doug Landis, Growth Partner at Emergence, was a guest on the latest episode of Make It Happen Mondays with John Barrows, sales trainer to the top tech companies around the world. Doug shares his tips on how to build a strong, balanced leadership team.
Finally, we’re looking to add a Senior Associate to our team at Emergence. Please pass along your recommendations!
Portfolio Executive Opportunities
- VP of Sales — Textio is an augmented writing platform for smarter hiring. The ideal candidate has previous experience as a senior sales leader focused on enterprise SaaS in growth-stage startup environments.
- Head of Marketing — Guru is reinventing knowledge sharing and enterprise collaboration. Guru is looking for candidate’s with 10+ years of B2B SaaS marketing leadership experience while managing and scaling cross-functional teams.
- Head of Content — Gusto’s fully-integrated platform automates payroll, benefits and HR tasks for companies. Gusto is looking for a gifted storyteller and leader to develop a multimedia content program that serves as a resource for these small business owners and their employees.
Thank you for reading and feel free to share friends and colleagues.