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Power Digital Acquires Digital Marketing Agency Sproutward

Power Digital

Power Digital, the leading tech-enabled growth marketing firm—today announces the acquisition of the marketing agency Sproutward, headquartered in Boston and Columbus. It is the fifth acquisition since 2019, bringing in 30 new team members to grow the organization's headcount to 580 strategic, consultative marketers, creatives, data scientists and technologists. The leadership team at Sproutward has a wealth of experience working in marketing organizations. Prior to founding Sproutward, Kevin Biondi served as VP of Digital Marketing at Staples, while Anabela Perozek was the CMO of Shoes.com and the Head of Marketing for Staples.com. Third partner, Scott Zakrajsek, previously led digital analytics and optimization departments at adidas, Reebok and Shoes.com. “Sproutward’s growth mindset and culture are incredibly well-aligned with our core values,” said Grayson Lafrenz, CEO of Power Digital. “Having worked on the brand-side, the leadership team deeply understands the mindset, challenges and needs of today’s sharp business and marketing leaders.” Sproutward is a marketing consultancy that focuses on clients who are in the midst of a digital transformation, blending creativity with robust analytics. Their work is backed by a proprietary platform integrating data across systems to create a single customer-facing view of revenue, marketing spend and business. Sproutward’s platform will be integrated into Power Digital’s technology, nova, to realize a data science offering designed to guide marketing investments for revenue growth. “Being data-driven and technology-enabled is in the DNA of both of our companies. By joining forces, we will expand offerings to better serve our brand clients across the board,” said Kevin Biondi, Co-Founder at Sproutward. Through this acquisition, Sproutward’s advertiser clients will gain access to a range of new marketing services offered by Power Digital, including TikTok, creative, content, influencer, performance PR and more. Power Digital continues to grow rapidly and was recently ranked in Inc. 5000’s list for companies winning in a challenging and unpredictable global landscape––seeing 95% team retention and a 91% client retention rate. Power Digital was also named one of Adweek’s Fastest Growing Companies in 2022, as well Ad Age Best Places to Work in 2023. Potomac Business Capital acted as financial advisor to Sproutward in the acquisition. About Power Digital: Power Digital is a tech-enabled growth firm––at the intersection of marketing, consulting & data intelligence––igniting revenue and brand recognition for leading and emerging companies around the world. At the heart is proprietary technology, nova, which analyzes businesses through first-party data, simplifying investment planning for marketing and diligence in M&A––putting marketers in a strategic seat at the table––and providing value in unparalleled ways. Managing billions in media, Power Digital’s dynamic team––of consultative marketers, creatives, analysts and technologists––challenges traditional ways of planning and measurement through meticulous testing and data science across each milestone of the customer journey. Discover more at PowerDigital.com. Contact Details N6A Kevin Pryor +1 347-781-3074 powerdigital@n6a.com Company Website https://powerdigitalmarketing.com/

February 02, 2023 10:29 AM Eastern Standard Time

Akeneo’s Product Information Management Solution Now Available on SAP® Store

Akeneo

Akeneo, the global leader in product experience management (PXM) and product information management, announced that its Akeneo Product Information Management (PIM) solution is now available on SAP® Store, the online marketplace for SAP and partner offerings. Akeneo PIM, which helps improve product content contextualization and simplifies catalog management serving multiple channels and geographies through a flexible and intuitive platform, is built on the SAP Business Technology Platform and integrates with SAP Commerce Cloud to deliver compelling customer experiences that help drive conversion and reduce returns. “Our partnership with SAP and Akeneo PIM’s integration with SAP Commerce Cloud helps enable more businesses to upgrade how they manage product information and provides composable solutions to today’s market challenges in order to deliver streamlined omnichannel experiences,” said Mark Holenstein, Chief Operating Officer of Akeneo. “Integrating with SAP Commerce Cloud helps give our clients an even deeper layer of confidence in our product information management solutions, especially as they take a modular approach to commerce technology.” Akeneo PIM is purpose-built for ease of use while providing powerful technology to automate and govern the enrichment of product catalogs on SAP Commerce Cloud. With this integration, brands and retailers can deliver product experiences that increase sales. Akeneo PIM can help organizations: Sell better with compelling and consistent product experiences Sell faster with efficient processes backed by powerful technology Activate products anywhere with Akeneo PIM designed for omnichannel Automate manual tasks and manage digital assets Improve brand image through product experiences Govern organization-wide data and foster collaboration across product content teams SAP Store, found at store.sap.com, delivers a simplified and connected digital customer experience for finding, trying, buying and renewing more than 2,200 solutions from SAP and its partners. There, customers can find the SAP solutions and SAP-validated solutions they need to grow their business. Additionally, SAP will plant a tree for every purchase made through the SAP store. Akeneo is also a partner in the SAP PartnerEdge® program, which provides the enablement tools, benefits and support to facilitate building high-quality, disruptive applications focused on specific business needs – quickly and cost-effectively. About Akeneo Akeneo brings a complete and composable SaaS-based solution for managing, orchestrating, activating, and optimizing the entire product record in order to drive compelling and consistent product experiences across all owned and unowned channels and routes-to-market. With its open platform, leading PIM for product data and asset management, and ecosystem connectivity with Akeneo App Store, Akeneo Product Cloud empowers commerce businesses to deliver world-class product experiences that unlock growth. Leading global brands, manufacturers, distributors, and retailers, including Thrasio, Staples Canada, boohoo, and Air Liquide trust Akeneo to scale and customize their omnichannel commerce initiatives. Using Akeneo Product Cloud, brands and retailers can activate product experiences in any channel, therefore driving improved customer experiences, increased sales, reduced time to market, accelerated expansion, and increased team productivity. © 2022 Akeneo. All rights reserved. SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies. Contact Details Akeneo North 6th Agency for Akeneo akeneo@n6a.com Company Website https://www.akeneo.com

February 02, 2023 09:34 AM Eastern Standard Time

How Yoshitsu Co (NASDAQ: TKLF) Drove Growth Amid A Turbulent Beauty Market – 2022 In Review

Benzinga

By David Willey, Benzinga It has been a year of milestones for the Japanese beauty company Yoshitsu Co Ltd (NASDAQ: TKLF). Yoshitsu is a retailer and wholesaler of beauty and health products that saw a year of growth despite difficulties in the market. The beauty industry is growing, worth over $90 billion in China and $131 billion in Europe. Meanwhile, North America continues as its largest market at $364.8 billion. Traditional stores, especially pharmacies, still represent the largest segment of beauty and health product sales, though there is an increasing shift towards e-commerce that was partially motivated by the lockdowns of the past few years. Companies in the beauty and health space have looked to seek new solutions in 2022 to meet the changing market needs. One company that struggled was New York personal care icon Revlon (OTCMKTS: REVRQ). The company had a tough year, first filing for bankruptcy before being suspended and delisted by the New York Stock Exchange in October, 2022. Parisian personal care company L’Oreal SA (OTCPK: LRLCY) started a research and development (R&D) collaboration with Alphabet Inc. (NASDAQ: GOOGL) subsidiary Verily to better understand skin health and aging processes. American company Ulta Beauty Inc. (NASDAQ: ULTA) saw a net increase of income of 17% in the first half of 2022, and also launched its Beauty& campaign to revolutionize the beauty industry and change perspectives on how to understand beauty and health wellbeing. Tokyo-based Yoshitsu Co. saw its product portfolio of cosmetics, skincare, fragrances, and cosmetic applicators expand to sauces, condiments, and various food products. Despite market challenges resulting from strict Japanese and Chinese lockdowns, Yoshitsu expanded in the past year, opened more physical locations, and saw record company growth. A Series of Successes? Opened Brick-and-mortar Locations. While some companies permanently closed their brick-and-mortar stores, Yoshitsu has been expanding. In November 2022 it opened a warehouse in London, UK, to respond to strong European demand for its products. It also added an additional store in Hong Kong, with significant interest coming from China, which reportedly made up 75% of Yoshitsu's revenue in 2021. Tourist Locations. COVID was tough for companies as Japan was closed to tourists for two years following the pandemic. But when Japan opened up its borders, Yoshitsu was there. It opened various pickup locations, offering duty-free cosmetics to entice tourists, with sites at its Urawa and KoshigayaRyutsudanchi stores in Saitama, as well as in Nagano. Wholesale Success. The company has also handled market challenges by capitalizing on its robust network of 200+ wholesale partners. 95% of its revenue came from online stores, franchised stores and wholesale operations in 2021. Credit Agreement. In November the company entered into a revolving credit facility agreement with a syndicate of national banks. The agreement - for JPY 8.15 billion (about $55.82 million) - expands the opportunity to reinvest in the company and to fulfill a balanced capital allocation. Food Products. Successes made possible by steps like the credit agreement include Yoshitsu’s addition of sauces, dressings, and condiments products to its portfolio, entering a market worth over $21 billion. It diversified this plan by later adding a host of food products, including frozen and refrigerated items, processed food, and confectionery. Record Growth. Perhaps unsurprisingly after a strong year, Yoshitsu saw record revenue growth. Reflecting on the successes, Principal Executive Officer of Yoshitsu Mei Kanayama said: “Although the global economy has been filled with uncertainties, we are satisfied with the accomplishments achieved in our key strategic initiatives, including the completion of our initial public offering in January 2022 and the expansion of our market coverage with new stores and wholesale customers.” To learn more about Yoshitsu, visit its website. This article was originally published on Benzinga here. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

February 02, 2023 09:25 AM Eastern Standard Time

Who Needs VC? How One SaaS Startup Bucked the Trend and Beat the Odds

NetReputation.com

By Caroline Hunter, Content Writer (at NetReputation) In the world of tech startups, venture capital (VC) often acts as a gatekeeper, providing the keys to market entry and the pathway to eventual success. The initial investments from VC groups can come at a high price for many entrepreneurs, typically with significant ownership stakes. Despite the costs, most startups do not have the necessary experience and financial backing to build and operate their company, leaving them vulnerable to VC interests. Although it’s mutually beneficial, venture capitalists do have the upper hand in the relationship with green founders. VCs understand the anxiety that comes from bringing new ideas to market and VCs can exploit the situation for ownership. The percentage of startups partnering with VC groups in early growth stages is, in reality, considerably low. According to Marc Andreessen of VC giant Andreesseen Horowitz, of the 4,000 startups seeking funding from major VCs each year, only about 200, or 5%. Despite the low percentage of startups who qualify for and receive outside funding, it's a common misconception that in order to succeed in the tech sector VC endorsement is necessary. The VC stamp of approval can open more doors and provide the fuel to accelerated growth, but brute growth isn’t always the better path. Despite the familiar pattern of VC and startup relationships, occasionally, a business comes along that balks at convention. Invoice Home is an innovative company with two experienced co-founders funding the operation out of pocket. It is not often you see two individuals opt for a bootstrapping approach in competitive sectors like the tech industry. VC vs. Bootstrapping and the Invoice Home Choice Despite notable exceptions like GoPro, VC is the traditional financing method among tech startups. The approach is less risky and provides greater opportunities for success, but it is not all rainbows and unicorns. Venture capital arrangements usually stipulate new founders to give up some control in their company in exchange for funding and mentorship. In some of the worst deals, product creators lose most, if not all, controlling interests in their company. That said, VC is not all bad, and it definitely has many benefits over the bootstrapping approach, including fewer risks. The Invoice Home founders chose to bootstrap after their own experience dealing with big investors and corporate institutions in their previous companies. The owners reviewed their financing options, concluding that the deemed more difficult and longer road was best for them and their business model as they wanted full control in shaping the product from its inception. Venture Capital Venture capital is financing, a form of private equity, that can fund companies at any stage, but investments in tech startups or small businesses have been on the rise in recent years. Capital investments usually come from wealthy investors, financial institutions or other investment banks. That said, VC is not always monetary. Sometimes, capital comes in less tangible forms, such as talent, knowledge, and experience. Regardless of the capital form, investing in a startup is risky, even if it has potential. Founders also face considerable risks with how potential partners justify ownership asks. Many VC deals include limited partnerships, which a VC firm defines. Venture capital agreements have pros and cons. The pros include: Early-stage financing for bootstrap operations No proof of cash flow or assets needed to secure funding Mentoring and network often part of the arrangements Despite the benefits, VC agreements can lead to a few cons. Some of the possible negatives include: The demand for company equity Loss of creative control of product Pressure to exit the investment ahead of growth Bootstrapping The founders of Invoice Home, Jiri Hradil and Petr Marek, weighed the pros and cons of VC and decided the traditional route of other tech startups was not for them or their idea. These two entrepreneurs chose a more challenging road to success, bootstrapping. Bootstrapping is usually a more gradual road to success and presents greater risks earlier on for startup owners. A person bootstraps when they attempt to build and grow their business using only personal finances or operational revenue. Both Hradil and Marek have extensive professional experience in the tech industry, specifically with building niche financial software in the FinTech space. Their expertise, independent finances, and knowledge in the current market likely played a role in the decision to step away from VC. Invoice Home Throws Norms Out the Window To Hradil and Marek, relinquishing any control of their business, especially during the beginning phase of product development, was premature. The partners knew what they wanted from their program and service — a simple way to create, organize, and send invoices to customers. The pair knew that partnering with VC firms would cut into their controlling interests. The last thing they wanted was to create a platform that didn't conform to their initial thought for the startup. Because each of them had several years in leadership roles at their own successful businesses previously, they knew the risks involved with starting a company without private equity financiers. However, because of their experience, they understood they could mitigate some risks. The primary issue was patience. The co-founders knew that without VC, the business could take time to mature and reach its potential. After proving the concept and fully committing to operations in 2013, Invoice Home now has over 7 million global users, retaining and growing its user base through the pandemic. Not giving up the control on the product proved to be the right decision, as the simplified invoicing tool found a perfect product market fit with freelancers and micro-businesses. VC Is the Norm, But It Doesn't Have To Be Venture capital is the traditional way of making it in the tech industry, but it doesn't have to be. Invoice Home is only one example of startup owners making the right decision for their product and bootstrapping their way to success. True, not every startup or tech creator can afford to take on the personal financial risks associated with starting a business. Also, many startups do not have the leadership experience to bring a product to market or identify lucrative channels. There is a place for VC in the tech industry, but it shouldn't be the automatic approach and sole path to launching a tech business. For young startups or creators, there is a lot to overcome when starting a new company. First-time founders often rush into VC partnerships in the beginning, particularly if they have the opportunity. But the faster road to success doesn't always mean it's the better option long term. Other financing and operational pathways may seem out of reach, depending on the founders and their circumstances. Before committing down a set path, try market testing a product on a smaller scale. Put the operational revenue back into the company to see if the product concept works in the current market. Creating a tech product and building a company without VC funding will be slower, but steady, consistent growth can prove to have a better long term outcome. This article was originally published on Benzinga here. NetReputation.com is an industry-leading online reputation management solutions provider focused on helping businesses and individuals repair, improve, and maintain positive brands on the web. Headquartered in Sarasota, Florida, NetReputation.com utilizes the latest in digital processes and technology to restore online reputations and empower long-term success online. NetReputation was established by online services innovator Adam Petrilli in 2015. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details Caroline Hunter Caroline@netreputation.com Company Website https://www.netreputation.com/

February 02, 2023 09:25 AM Eastern Standard Time

FatBrain Is Providing Real-Time Strategic Cash Management For SMEs

FatBrAin

By Faith Ashmore, Benzinga For small-to-medium-sized enterprises, also known as SMEs, protecting, predicting, and increasing cash flow is the lifeboat that will allow a business to succeed and flourish. However, data collection and analysis is essential to understanding cash management, and not every SME has the resources to predict accurately. SMEs actually make up over 90% of businesses around the world and approximately half of employment. In the U.S., SMEs account for 44% of all US economic activity and produce the bulk of GDP output. SMEs are a huge part of the economy but are fundamentally lacking the tools to compete with larger companies that use AI and outsource accounting concerns to entire teams of specialists. FatBrain AI (LZG International, Inc.) (OTCQB: LZGI) (“FatBrain”) is looking to change this reality and use AI to give SMEs an edge to succeed in cash management. FatBrain is known for widening AI options for SMEs. The company has created a RansomProof AI software that ensures small businesses will be safe from cyberattacks; the free program is leveling the playing field between big businesses and SMEs. FatBrain has also launched an FX Transaction product that allows SMEs to optimize their foreign transactions and save money. Recently, FatBrain acquired FinTech Alliance company, Predictive Black. Predictive Black supports SMEs in the UK with real-time cash management and financial insights, which helps promote overall business wellness. The SaaS platform uses AI to forecast revenue, costs, and cash for SMEs. Why Is Predicting Revenue, Costs, And Cash Important For SMEs SMEs oftentimes do not have the same emergency infrastructure as larger corporations and as such, they are more vulnerable to fluctuating economic changes. Whereas large companies like Microsoft (NASDAQ: MSFT), IBM (NYSE: IBM), and Nvidia (NASDAQ: NVDA) may have entire teams dedicated to making sense of economic data and planning accordingly, SMEs may not have the manpower or expertise to excel at predictive treasury management. This is where FatBrain’s Predictive Black comes in. Predictive Black uses the latest AI to compile relevant industry and market data based on a company’s sector, peers, clients, and suppliers. The AI then creates a baseline and users have access to a “Scenario Planning” function that allows for “what-if” scenarios to be calculated and accounted for. For example, you can calculate if a supplier increases their prices or if you lose a few clients and how that impacts your revenue. Each function is designed to improve speed, reduce risk and analyze real-time cash data. These tools can provide ease of mind for SMEs and give them the analysis needed to make safe and sound business decisions. This article was originally published on Benzinga here. FatBrain AI (LZG International, Inc.; OTC: LZGI) is the first and leading provider of powerful and easy-to-use AI solutions to millions of businesses of tomorrow driving the majority of the global economy, empowering them to grow, innovate faster and savemoney. FatBrain’s innovative solutions transform continuous learning, narrative reasoning, cloud, blockchain and Web3 technologies into auditable, explainable and easy to integrate products. FatBrain’ssubscription model allows all companies to deploy its advanced AI solutions quickly and easily, securely utilizing them on premises behind their firewalls or via cloud. The AI 2.0 pioneered by our teams is like WAZE for business growth, using advanced peerdynamics technology to automatically learn patterns from individual and peer behavior. This allows us to deliver coached, personalized AI solutions at hyperscale. FatBrain unifies insights from SaaS applications, turbo-charged by peer and market dynamics: 1) Realize attainable goals from explainable peer performance. 2)Turbo-charge human expertise with superhuman AI insights. 3) Accelerate growth through the contributory network effects. 4) Simplify harnessing data across common apps and market signals. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Shawn Carey ir@fatbrain.ai Company Website https://fatbrain.ai/

February 02, 2023 09:25 AM Eastern Standard Time

SEAC Thailand Launches 456 Smart Learning Ecosystem To Upskill Learners

SEAC Thailand

BANGKOK, THAILAND - Media OutReach - 2 February 2023 - SEAC, Southeast Asia's SMART learning leader today launch their 456 Smart Learning Ecosystem to address the slow rate at which the education and training industries are evolving their learning approaches. SEAC has innovated and refined its approach over the last ten years to better meet learners needs in this new era of rapid change and upskilling. SEAC's 456 learning experience solution integrates content, technology, design, and experience expertise to reimagine learning by using their trademarked 456 methodologies. The solution begins with defining the five phases that a learner must go through to ensure buy-in, value, retention, and application: essentially, a bridge across their skill gap. Following that, SEAC weaves four distinct learning lines to support the learners in crossing that bridge to their future. Finally, SEAC incorporates targeted lab experiences to assist learners in accelerating and applying their new skills with confidence and impact. SEAC's 4-Line Learning, 5-Phase Development, and 6 Learning Labs are a technology-enabled ecosystem and toolkit for effectively closing the massive skill gaps learners' face. Understanding the three major frameworks: 4-Line Learning: Weaving four distinct modes of learning, OnLine, InLine, FrontLine, and BeeLine, to foster community and momentum for maximum learning impact. 5-Phase Development: The five stages that learners must go through to effectively buy in, learn, retain, and apply new skills, mindsets, and tools. The suggested order is as follows: -- Phase 1: Introduce & Enroll: What is the significance of what I am about to learn? What is the value to me? - - Phase 2: Baseline and Measure: What does good look like in the context of what I'm about to learn? What am I doing now? Where and with whom might I apply this new mindset/skillset? - -Phase 3: Connect and Inspire: What impact can we have if we truly succeed? How will I/we collaborate with others to learn and grow as a community? --Phase 4: Build and Integrate: How will I apply this content to my work, and where and with whom will I apply this new mindset/skill? --Phase 5: Consolidate and Sustain: What mindsets, skills, and tools are the most useful? Where and how will I put them to use and keep the momentum? 6 Learning Labs: Short, powerful, targeted interventions added at the right moment to speed up and boost learning and application. These are some examples: -- Unpacking: Unpacking for greater comprehension and application -- Skill Practice: 'Acting out' current situations with my new skills and tools. -- S.T.A.R. Application and Reflection: Planning, executing, and reflecting on applying my learning in situations in my work/life that I am attempting to change, -- Group/Individual Coaching: Support for action learning projects and applications on a group, team, and individual basis. -- Impact Presentations: Documenting and sharing the outcomes of my learning with others. -- Communities of Practice: A group of lifelong learners who share a passion for sustaining change. By combining these three learning design and delivery frameworks yield an effective, learner-focused experience that reduces unnecessary content, activities, and distractions in favor of context and application. "This ever-changing environment we live in today has brought us great technological advancements as well as unexpected problems," said Arinya Talerngsri, SEAC Chief Capability Officer, Managing Director, and Founder. "Smart Learning is still getting used to its new normal. As a critical solution provider in Thailand, we are still transitioning from "short-term surge" to "long-term transformation" while overcoming other obstacles. However, our most recent educational innovations are producing astounding results. The context and learner needs are prioritized over content in SEAC's upskilling methodology. As a result, our star 456 Learning Experience is user-oriented and focuses on learners' immediate needs, as should any similar education and training framework." SEAC leads the Thai Smart Learning market and provides high-quality, all-inclusive smart education to a diverse range of learners and organizations seeking to upgrade their capabilities. SEAC are the only holistic SMART Learning Service provider and hold 35% of the Thai upskilling market. The Company created a learning -experience for people of all age that serves as a bridge to the other side and a better self and future. SEAC's innovative 456 Learning Experience encourages learners to find the best and most useful ways to learn, apply, and grow by balancing out other out-of-date L&D models. "Practicality and creativity are important parts of who we are as an organization, and they are deeply ingrained in our DNA," Ms. Arinya Talerngsri continued. "We have obligations to everyone, whether they are users or not. Gaining a larger share of the $7 trillion global consumer market for education is both difficult and worthwhile. We will give back to the industry and rely on the capital market to assist us in empowering our learners and partner organizations through learning." About SEAC Established in Thailand, and with more than 30 years of experience in people development, SEAC has provided innovative and practical approaches to over 2 million learners from more than 1,000 companies, especially in Thailand, Vietnam, Myanmar, and Singapore. SEAC helps them to improve their life through bespoke transformative learning experiences. The Company reimagines how people can upskill and reskill themselves. By integrating learner context, content, process, community, and technology, SEAC has built a complete smart learning ecosystem that serves the needs of learners across generations, industries, life changes, and organizational levels. For more details on 456-Learning Experience, please visit: Official website: https://seasiacenter.com/ Download the official brochure: https://drive.google.com/file/d/1-z7le3I7lJ1EJlHISiljZXD5jbaBa9oM/view Contact Details SEAC Thailand Mr. James Powell james_p@seasiacenter.com SEAC Thailand Ms. Panadda Ritthiruengdej panadda_r@seasiacenter.com

February 02, 2023 09:00 AM Eastern Standard Time

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Learning Technologies Group "very happy" with 2022 performance

Learning Technologies Group PLC

Learning Technologies Group PLC (AIM:LTG, OTC:LTTHF) chief executive Jonathan Satchell talks to Proactive's Thomas Warner after a releasing a trading update for 2022 - a year he describes as "transformational" for the business. He gives his take on how the group has been performing and looks ahead to what 2023 is likely to have in store, describing himself as "very confident about the way ahead". Contact Details Proactive Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

February 02, 2023 08:05 AM Eastern Standard Time

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Vertical Insure Raises New Capital to Help Vertical Software Platforms Drive Revenue Through Embedded Insurance

Rally Ventures

Vertical Insure, the embedded insurance platform for platforms, today announced it raised $2M in additional financing, bringing its total seed funding raised since inception to $6M. Greenlight Re Innovations led the additional financing, with participation from Groove Capital, Daren Cotter and other strategic angel investors. Vertical Insure provides vertical SaaS platforms with embedded, white label insurance products that can be deployed to their current customer base. Companies can leverage Vertical Insure to bundle the range of products their customers need — resulting in added value and new revenue without any extra overhead or IT bandwidth. Vertical Insure operates in an emerging wave of business known as SaaS+. In addition to their core software product, SaaS+ platforms employ embedded products as a secondary revenue model. Vertical Insure is the “plus” that SaaS platforms can integrate and monetize to become SaaS+ platforms. “We are really excited about Vertical Insure’s momentum and glad to have new strategic investors join the team,” said Brock Noland, Co-Founder and CEO of Vertical Insure. “Greenlight Re has a strong track record of successfully supporting technology innovators in the (re)insurance space. We’re looking forward to together bringing game-changing insurance products to market.” Simon Burton, CEO at Greenlight Re, said, "We believe that Vertical Insure will generate unique underwriting opportunities for Greenlight Re by tailoring embedded insurance products for industry-specific SaaS platforms and their clients." Vertical Insure will use this additional funding to accelerate product development, hiring and GTM. Since its initial round of seed funding in December 2022, Vertical Insure finalized its partnership with battleface, an award-winning provider of travel, registration and event insurance. "A great booking experience includes having the option to cancel and recoup your investment should unforeseen circumstances arise,” said Beau Jeppesen, Head of Revenue at battleface. “We’re excited to be working alongside Vertical Insure to bring event participants and spectators alike highly personalized embedded products and services. By introducing coverage at the moment it’s needed and at the point where the customer is most likely to buy will ultimately lead to higher conversion rates.” About Vertical Insure Vertical Insure is the embedded insurance platform built for vertical SaaS platforms. The company offers customized insurance options that are 100% built around each business and its customers, resulting in added value and new revenue without any extra overhead. Make insurance part of any purchase in any vertical with Vertical Insure. For more information, visit www.verticalinsure.com. About Greenlight Re Greenlight Re ( www.greenlightre.com ) provides multiline property and casualty insurance and reinsurance through its licensed and regulated reinsurance entities in the Cayman Islands and Ireland, and its Lloyd's platform, Greenlight Innovation Syndicate 3456. The Company complements its underwriting activities with a non-traditional investment approach designed to achieve higher rates of return over the long term than reinsurance companies that exclusively employ more traditional investment strategies. In 2018, the Company launched its Greenlight Re Innovations unit, which supports technology innovators in the (re)insurance space by providing investment capital, risk capacity and access to a broad insurance network. About Rally Ventures Rally Ventures invests exclusively in early-stage business technology companies, focusing on entrepreneurs creating major new markets or bringing transformative approaches to existing ones. Rally has more than $700M under management across four funds. Since 1997, Rally Ventures' partners and venture capital industry veterans have invested in or run early stage enterprise business-to-business technology companies with a proven ability to deliver superior returns regardless of the overall market environment. For more information visit www.rallyventures.com. Contact Details Rally Ventures Rachel Subasic rachel@rallyventures.com Company Website https://www.verticalinsure.com/

February 02, 2023 08:03 AM Eastern Standard Time

Freightify secures $12M funding round to power digital transformation for freight forwarders globally

Freightify

Global freight forwarding is a $300B industry that facilitates the movement of cargo from one place to another through a series of manual and legacy processes. Freightify’s freight rate management platform is solving the complex challenges facing freight forwarders and helping them to do more business faster at lower costs. Today, Freightify is announcing a $12M debt & equity Series A funding round to help power digital transformation of Freight forwarders through Freightify’s suite of products. Freightify empowers freight forwarders by providing rate automation solutions to digitize their rate procurement, rate management and quotation processes with ease. The platform allows any forwarder to create a digital storefront to serve their customers better.In addition to this, it includes track and trace solutions that help freight forwarders in getting the live location of vessels and automated milestones within seconds. Freightify’s platform allows freight forwarders to procure, manage and quote freight prices (including all possible ancillary charges) in less than 2 minutes. Freightify’s new funding round will help launch new functionalities and deliver on a strong and expanded product roadmap, expand the sales presence globally, build channel partnerships, strengthen their marketing to drive growth and increase their brand awareness globally as they expand into new geographies and segments. The round was led by Sequoia Capital India with participation from TMV and Alteria Capital. The round also includes returning investors Nordic Eye Venture Capital and Motion Ventures. Founded in 2016 and based in Singapore, Freightify initially started as a marketplace for freight forwarders to conveniently search, book and track freight. This experience in automating sea-freight paved the way to a SaaS pivot. Today, Freightify’s platform, with rate management and quoting capabilities, is able to empower freight forwarders to procure, manage and quote freight prices (including all possible ancillary charges) in less than 2 minutes. Over 200 freight forwarding companies providing global logistics services (across 45 countries) use Freightify to digitize their business. These customers have reported reducing processing time by more than 70% and a substantial cost saving in doing business. Some customers deploy a Freightify white-label platform and have reported an increase in win ratio by more than 20% and a very noticeable increase in retained business. This success has seen revenues at Freightigy triple in the last year as they have attracted large numbers of the top 100 freight forwarders around the world. The founder and CEO, Raghavendran Viswanathan has deep experience working in logistics, supply chain and freight management with companies including DHL and Panalpina. The company’s management and senior staff come from backgrounds including SaaS startups like Freshworks and GoFrugal, logistics tech startups like Fourkites and Trimble, shipping lines like Maersk and MSC, Large forwarders and logistics companies like CON-LINQ ApS, Dachser Denmark and Wiz as well as Big 4 consulting firms like BCG. Raghavendran Viswanathan, CEO of Freightify, commented “For too long, freight forwarders have been restricted to spreadsheets and legacy processes to do business. We set up Freightify to remove the heavy lifting of manually providing quotations, accepting email/telephonic bookings, managing documentation, coordinating and tracking shipments. Freightify solves these challenges by giving them and their customers a live pricing platform like the ones used by travelers to compare airfares, showing real-time rates on a single screen. Freight forwarders are like the travel agents for global trade, however, air travel is not as complicated as global trade. Supply chains require experts to manage cargo throughout the entire lifecycle and freight forwarders play a vital role in greasing the wheels.” He also added, “Freight forwarders using Freightify save more than 70% of the time spent on manual tasks and legacy processes, while halving the operational costs to do business”. The freight forwarding industry is a cornerstone of the global trade economy and despite the massive size, much of the industry remains constrained by manual processes and runs on paper, excel sheets and phone calls. Freightify, a vertical SaaS platform, is solving this problem by helping freight forwarders automate rate management and make every day operational workflows fast and efficient so that they can focus on serving their customers and growing their business. We are glad to be a part of this journey with Raghav and the team at Freightify. ” said Mayank Porwal, VP, Sequoia India Existing investor at Freightify, Nordic Eye’s Investment Partner and Manager, Ib Drachmann added: “We have been impressed by the common vision of the company to democratize technology for the freight forwarding ecosystem. We are happy to see the scale at which Freightify has been growing, adding new logos globally and strengthening their product capabilities. Hence, we are doubling down on backing Freightify.” Raghavendran Viswanathan added: “Various marketplaces around the world are attempting to become the Amazon of services for freight forwarders, which will help. We believe in empowering the freight forwarders and are taking the Shopify route by selling a SaaS product to enable them to manage and create their own communities” Looking ahead, Raghavendran Viswanathan added: “We have been expanding rapidly across Europe, Australia and key regions in Asia pacific, and are currently expanding in North America. We have a highly skilled product and engineering team that can deliver on a strong product roadmap. Sales people on the field with deep experience in the freight industry. We are building out a strong marketing function that can drive growth.” About Freightify Freightify was established in 2016 with the vision to enable digital transformation of freight forwarders of any size. We empower freight forwarders by providing white labeled rate automation solutions to digitize their rate procurement, rate management and quotation processes with ease. In addition to this, we also provide track and trace solutions that help freight forwarders in getting the live location of vessels and automated milestones within seconds.‍ At Freightify, we have a strong and supportive team of 200+ logistics professionals from Europe, the USA, and India who come to work every day to solve complex problems of the trillion-dollar logistics Industry using technology. At Freightify, we empower freight forwarders to go digital by providing plug-and-play technologies and services for the entire logistics value chain. About Sequoia Capital India Sequoia helps daring founders build legendary companies, from idea to IPO to beyond. Sequoia Capital India and Sequoia Capital Southeast Asia actively partner with founders from a wide range of companies, across categories, including BYJUs, CRED, Druva, Five Star Finance, Freshworks, GoTo, Groww, Kopi Kenangan, Mamaearth, Pine Labs, Polygon, Razorpay, Truecaller, Zomato and more. We spur founders to push the boundaries of what's possible. In partnering with Sequoia, startups benefit from over 50 years of tribal knowledge and lessons learned working with companies like Airbnb, Alibaba, Apple, Dropbox, Google, LinkedIn and Stripe early on. From the beginning universities, endowments, and other non-profits have been the backbone of our investor base which means founders' accomplishments make a meaningful difference. For more information on Sequoia's work in India visit sequoiacap.com/India Contact Details Freightify Murali Sankar +1 872-259-3504 media@freightify.com Company Website https://www.freightify.com/

February 02, 2023 07:00 AM Eastern Standard Time

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