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Exhibit at TC Disrupt 2021: Snag a Startup Alley Pass before prices go up

Published May 19, 2021

The TC Disrupt 2021 super early-bird deal took our best deal in its beak and flew the coop. But you can still buy a Startup Alley Pass and exhibit in our virtual expo area at a great price. Take advantage of our early-bird deal, cross an item off your to-do list and keep $50 in your wallet.

Pro Tip: The early-bird deadline is August 6 at 11:59 p.m. (PT), and if that feels like a long way off, don’t be fooled. It’ll be here before you know it, and Startup Alley Passes are selling faster than ever. Get yours for just $249 while you can.

In addition to your virtual exhibit space and the abundance of networking that goes on in the Alley, we have additional opportunities for exhibitors. For starters, each exhibiting startup gets to participate in a breakout pitch-feedback session.

You’ll have two minutes to pitch live to TechCrunch staff and thousands of Disrupt attendees around the world. And you’ll receive plenty of great feedback to improve your pitch deck.

“I walked away with a bunch of notes to reorganize my pitch deck. It’s a lot of work, but it’s very rewarding because now I have a clear path. Disrupt was like an authoritative instruction manual for how to finish my pitch deck.” — Michael McCarthy, CEO, Repositax.

Note: The TechCrunch Editorial team will choose two outstanding exhibiting startups to be Startup Battlefield Wild Cards. Those founders will get to compete for the $100,000 (equity-free) cash and massive exposure in the Startup Battlefield. It. Could. Be. You.

Team TechCrunch will also host a series of Startup Alley Crawls — one hour for each business category. Editors will go live on the Disrupt stage and interview various founders exhibiting in Startup Alley. It’s great global exposure.

Here’s another big reason to get your exhibitor pass sooner rather than later. It’s a new opportunity called Startup Alley+ and you must purchase a Startup Alley Pass before Friday, June 4 at 11:59 p.m. (PT) to be eligible for this VIP Disrupt experience. TechCrunch will choose up to 50 startups to participate. Read about all the perks and benefits here. Get your pass before the deadline, because the Startup Alley+ experience kicks off in July at Early Stage 2021 — Marketing and Fundraising.

Here’s all the biz dev support Startup Alley+ founders get at TC Disrupt 2021

So many great reasons to exhibit in Startup Alley at TC Disrupt 2021, but the clock is ticking on early-bird savings. Take one simple task off your overloaded to-do list, buy your Startup Alley Pass now — while it’s on your mind — and save yourself $50 bucks.

Is your company interested in sponsoring or exhibiting at Disrupt 2021? Contact our sponsorship sales team by filling out this form.

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Bessemer’s Tess Hatch will join us as a judge at TechCrunch Disrupt 2021

Published May 19, 2021

Tess Hatch, vice president and partner at Bessemer Venture Partners, will join us at TechCrunch Disrupt 2021 as a judge for our Startup Battlefield competition. By the way startups, you can still apply now until May 27 to take part in the competition here!

At Bessemer, Tess spearheads frontier tech investments, including the scaling and commercialization of revolutionary technologies, including drones, space-based observation and launch, agritech and much more. She’s focused on sourcing and reproducing tech bets that have the potential to significantly improve society in fundamental ways.

Some of Tess’s investments and board positions include Rocket Lab, Spire, DroneDeploy, Iris and more. Before her time at Bessemer and work as an investor, she worked for both Boeing and SpaceX as a payload integrator and aerospace engineer, building on her aeronautics and astronautics education from the University of Michigan and Stanford. Tess was also recently named one of Forbes’ 30 under 30 in VC.

We’ve been lucky enough to have Tess onstage at prior Disrupt events, and our TC Sessions: Space event as well. She’s definitely one of the best people in the world to talk to about cutting-edge technologies, and companies looking to solve even the most ambitious technical challenges, so she’s sure to bring great perspective to the Startup Battlefield judging panel this year.

Make sure to book your pass to TC Disrupt on September 21-23 to watch 20+ startups compete for $100,000 in Startup Battlefield and enjoy over 100 hours of content and thousands of enthusiastic startup fans — all for under $99! Secure your seat today!

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Restrictions on acquisitions would stifle the US startup ecosystem, not rein in big tech

Published May 19, 2021
Jeff Farrah
Contributor

Jeff Farrah is the general counsel of the National Venture Capital Association.
More posts by this contributor

Bipartisanship has long been out of fashion, but one common pursuit among Democrats and Republicans in Washington has been placing Big Tech companies under a microscope.

Congressional committees have held scores of hearings, lawsuits have been filed and legislation has been introduced to regulate privacy and data collection. The knock-on effect of these reforms for young companies and their venture investors is unclear. But one aspect of increased antitrust scrutiny — restrictions on acquisitions — would have a significant negative effect on our entrepreneurial ecosystem, and policymakers should approach these changes with caution.

Acquisitions are an important element of the startup ecosystem

For VC-backed companies, there are effectively three outcomes: standalone company (often via an IPO), merger or acquisition, or bankruptcy. Despite best efforts, company failure is the most common outcome — more than 90% of startups fail. Fortunately, the success stories are often companies with a big impact, like Moderna and Zoom, which helped the world in the pandemic.

Acquisitions contribute to the health of the startup ecosystem, as entrepreneurs who realize liquidity through the sale of their company regularly go on to found innovative new companies and often invest in other startups as angel investors or venture capitalists.

Entrepreneurs are optimists by nature, and so when the company journey begins, there is great hope of one day creating a standalone public company. However, in most cases, an IPO is not possible. The reality is that entrepreneurship is incredibly hard, and the journey from infancy to public company is one that relatively few companies achieve.

Silicon Valley Bank’s 2020 Global Startup Outlook puts it this way: “[T]he fact is most entrepreneurs never expect to reach a public market exit.” Accordingly, 58% of startups expect to be acquired. NVCA-Pitchbook data on acquisitions and IPOs back up the sentiment of founders when it comes to likely exit opportunities. In 2020, there was an approximately 10:1 ratio of acquisitions of VC-backed companies to IPOs, with 1,042 venture-backed companies acquired and 103 entering the public markets.

Some might argue that acquisitions are more dominant today because of the anti-competitive motivations of current tech incumbents. But as Patricia Nakache of Trinity Ventures said in testimony before the Senate Judiciary Committee: “[Acquisitions have] been commonplace in the U.S. since before the dawn of the modern venture capital industry.” In fact, today we are witnessing fewer acquisitions relative to IPOs than in years past, as the average acquisition-to-IPO ratio since 2004 is approximately 15:1. This is happening against a backdrop of challenges in taking small-cap companies public that has reduced the number of companies in the public markets today.

Acquisitions contribute to the health of the startup ecosystem, as entrepreneurs who realize liquidity through the sale of their company regularly go on to found innovative new companies and often invest in other startups as angel investors or venture capitalists.

Furthermore, acquisitions help power the returns of VC funds, thereby allowing VCs to raise new funds and invest in the next generation of entrepreneurs. This “recycling effect” is one of the key drivers of dynamism in our economy and should not be slowed down.

Acquisition changes could impact entrepreneurship

Despite the importance of acquisitions, antitrust reform has included significant changes to how acquisitions are assessed by the federal government. The two most prominent examples in this space are Sen. Amy Klobuchar’s Competition and Antitrust Law Enforcement Reform Act (CALERA) and Sen. Josh Hawley’s Trust-Busting for the Twenty-First Century Act.

These bills are likely a reaction to findings that incumbents have acted like Pac-Man, gobbling up would-be competitors before they become a competitive problem. But both proposals would ultimately harm startup activity and competition rather than propel it.

A common thread between these proposals is to restrict acquisitions by companies valued at more than $100 billion. Hawley’s bill would impose an outright ban on acquisitions by companies of that market cap that “lessen competition in any way.”

Klobuchar’s bill would shift the burden of proof to parties to an acquisition, a major change because the U.S. government bears the burden currently. This means if the government challenges an acquisition in federal court, the parties to the acquisition must demonstrate it does not “create an appreciable risk of materially lessening competition.” If that standard is not met, the acquisition could be blocked.

Both proposals have negative ramifications for venture-backed companies.

First, consider the scope of the proposals: A $100 billion company is indeed a large one, but setting the threshold there captures far more than the large tech companies that have been hauled before Congress for antitrust hearings. Globally, about 150 companies are valued at $100 billion or more, and the U.S. is home to more than 80 of those companies. That exposes acquirers as wide-ranging as Estee Lauder, John Deere, Starbucks and Thermo Fisher Scientific. If you are struggling to recall those companies being under the antitrust spotlight, then you are not alone.

Second, the legal standards imposed by these new bills are daunting. Klobuchar’s proposal leaves startups scratching their heads on where the line is on which acquisitions are tolerated, while Hawley’s bill throws up a misguided red light for vast amounts of acquisitions. These two standards are particularly vexing since acquirers are generally looking for acquirees that complement their existing business. In addition, many of the most acquisitive companies are multifaceted ones that presumably compete with an array of other companies in some way.

Ultimately, the bills from Klobuchar and Hawley would disrupt an important part of our nation’s startup ecosystem. Acquisitions act like grease to help keep the wheels moving by injecting liquidity into the system so participants can move on to create new and hopefully better companies for our country. Those wheels should not be slowed down when the country needs all the entrepreneurship it can muster.

How to make sure your legal team is M&A ready

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Google revives RSS

Published May 19, 2021

Chrome, at least in its experimental Canary version on Android (and only for users in the U.S.), is getting an interesting update in the coming weeks that brings back RSS, the once-popular format for getting updates from all the sites you love in Google Reader and similar services.

In Chrome, users will soon see a “Follow” feature for sites that support RSS and the browser’s New Tab page will get what is essentially a (very) basic RSS reader — I guess you could almost call it a “Google Reader.”

Now we’re not talking about a full-blown RSS reader here. The New Tab page will show you updates from the sites you follow in chronological order, but it doesn’t look like you can easily switch between feeds, for example. It’s a start, though.

Image Credits: Google

“Today, people have many ways to keep up with their favorite websites, including subscribing to mailing lists, notifications and RSS. It’s a lot for any one person to manage, so we’re exploring how to simplify the experience of getting the latest and greatest from your favorite sites directly in Chrome, building on the open RSS web standard,” Janice Wong, product manager, Google Chrome, writes in today’s update. “Our vision is to help people build a direct connection with their favorite publishers and creators on the web.”

A Google spokesperson told me that the way the company has implemented this is to have Google crawl RSS feeds “more frequently to ensure Chrome will be able to deliver the latest and greatest content to users in the Following section on the New Tab page.”

RSS was one of the fundamental technologies of the Web 2.0 era. Even today, it’s still the easiest way to get timely updates from your favorite sites (though some may not offer feeds anymore) without any recommendation algorithms getting in your way. Yet while RSS was always extremely useful, the user experience wasn’t always ideal, though services like Google Reader (RIP) and Feedly did a lot to make it simple enough to subscribe to feeds and get updates. But when Google offered Google Reader at the altar of Google+ back in 2013, that era came to an end, even as diehard news junkies kept holding on to their Feedly accounts and old copies of NetNewsWire.

I think a lot of people will be glad to see that Google is bringing it back as a core feature of its browser. If you prefer an open web, RSS, for all its occasional clumsiness, is the way to go.

For now, though, this is only an experiment. Google says it wants to gather feedback from “publishers, bloggers, creators, and citizens of the open web” as it aims to build “deeper engagement between users and web publishers in Chrome.” Hopefully, it won’t stay this way.

RSS is undead

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Netlify snags YC alum FeaturePeek to add design review capabilities

Published May 19, 2021

Netlify, the startup that’s bringing a micro services approach to building websites, announced today that it has acquired YC alum FeaturePeek. The two companies did not share the purchase price.

With FeaturePeek, the company gets a major upgrade in its design review capability. While Netlify has had a previewing capability called Deploy Previews in the platform since 2016, it lacked a good way for reviewers to discuss and comment on the design. The preview alone was useful as far as it goes, but having the ability to collaborate on the design remained a missing piece until today.

With FeaturePeek, the company can expand on Deploy Previews to not only preview the design, but also enable all the stakeholders in the design process to add their opinions, edits and changes as the design moves through the creation process instead of having to wait until the end or gather the comments in a separate document or communications channel.

As FeaturePeek co-founder Eric Silverman told me at the time of their seed funding last year, his product removed a lot of frustration when the web coders would get all their review comments at the last minute:

“Right now, there’s no dedicated place to give feedback on that new work until it hits their staging environment, and so we’ll spin up ad hoc deployment previews, either on commit or on pull requests and those fully running environments can be shared with the team. On top of that, we have our overlay where you can file bugs, you can annotate screenshots, record video or leave comments.”

Matt Biilmann, CEO and co-founder, Netlify says that when his company created Deploy Previews, it was in reaction to customers who were kloodging together their own solutions to the issue. They learned that even with their own preview feature, customers craved a communications capability.

FeaturePeek moves beyond Y Combinator with $1.8M seed

In the classic build versus buy debate, the company began building its own, then it met the FeaturePeek team and decided to switch course. “We had a team working on a prototype when the founders of FeaturePeek, Eric and Jason, gave us a demo of their product. As the demo progressed, our jaws got increasingly closer to hitting the floor and we knew straight away that what we had just seen was miles away from both our internal prototypes and any of the other tools we had seen in the space,” Billmann told TechCrunch.

He added, “It also quickly became apparent that fully building towards this vision as two different companies, without a deep end-to-end experience from initial Pull Request to a new feature release, would never really allow us to build what we were dreaming of, so we decided to join forces.”

The companies’ combined effort actually comes together today in a new release of Deploy Previews that includes the new FeaturePeek collaboration/commenting capabilities.

FeaturePeek was founded in 2019, went through Y Combinator Summer 2019 batch, and raised around $2 million. Netlify was founded in 2014 and has raised over $97 million, according to Crunchbase. Its last raise was a $53 million Series C in March 2020.

Netlify nabs $53M Series C as microservices approach to web development grows

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Spokn slurps out the BS in corporate internal comms and replaces it with audio storytelling

Published May 19, 2021

The podcasting world remains one of the most vibrant formats in media (and I am not just saying that since the Equity crew won a Webby yesterday for our not-that-humble podcast). Its openness, diversity, freedom and ease-of-authoring has broadened the medium to all sorts of hosts on every subject imaginable.

We experience that dynamism and verve in our own audio listening, but then we start to tune into our company’s internal communications, and, well, you certainly don’t need sleeping pills to zone out. Top-down, formal, banal — corporate comms remains mired in a 1950s way of speaking that is completely out-of-sync with the millennials and Gen Z majority of workers who expect something actually worth watching and listening to.

Spokn wants to make company-wide podcasting a must-listen event, not just for leaders to talk to their employees, but for every worker to have a voice and share their expertise and stories across their workplaces. Through its app, companies can deliver personalized podcast feeds on everything from a daily standup or weekly AMA to training and development content, all of which is secure and kept for internal use.

It’s an idea that has quickly attracted investor attention. The startup, which was part of Y Combinator’s most recent Winter 2021 batch, closed on a $4 million seed round two weeks before Demo Day led by Ann Bordetsky, a partner at NEA who joined earlier this year and previously served as COO of Rival. This is her first investment with the firm.

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The company was founded by Fawzy Abu Seif, Mariel Davis and Mohammad Galal Eldeen. Abu Seif and Davis met each other in an Egyptian jazz club in November 2017, about a week after he had quit his job. They eventually came together not just as a couple — they got married in the fall of 2019 — but as business partners, linking up with Galal Eldeen and incorporating Spokn in April 2018.

Spokn’s Mohammad Galal Eldeen, Mariel Davis and Fawzy Abu Seif. Image Credits: Spokn

Spokn’s product evolved across three iterations. First, the team tried to create audio narrations of evergreen content at major publishers like The New York Times. The idea was to help publishers reuse their best content as a new revenue source while connecting more listeners into these brands. Getting publishers to commit was tough though. “The consumer app wasn’t doing that great, and we started hunting around the data to see if something was working,” Davis said.

What they found was that professional development podcasts were much more popular compared to other topics, and so they had an opportunity to re-jigger the product to focus on training and specifically target enterprises. The idea was “let’s empower companies with the same tools we had as a consumer company,” Abu Seif said.

More thoughts on growing podcasts

Prior to Spokn, Davis had worked with an entrepreneur in the Middle East building out a social enterprise network focused on skills training, a role in which she handled internal communications. She saw just how little impact media like email made for employees, particularly in the distributed workforce she was attempting to engage. The new direction for Spokn was far more enticing.

The newly married couple moved to New York City from Egypt and signed an apartment lease in early March 2020 — just as the COVID-19 pandemic spread widely in the region. We “multiplied the living expenses by 8-10x while doing the same Zoom calls we could make from there,” Abu Seif joked.

Eventually, the company realized that it could do much more than just training, and expanded into broader internal comms. “Async audio is a lot more personal than email,” Abu Seif said. This latest product iteration launched in November 2020, and included push notifications, an app for streaming, personalization features and analytics to allow companies to track what was working and what was not for employees.

Spokn’s app offers a personalized feed of company podcasts. Image Credits: Spokn

Perhaps most importantly, companies can tailor the access lists for individual podcasts to particular groups of people, such as senior execs, people managers, sales employees or any other logical grouping. We “get a lot of inbound from companies that are trying to duct-tape solutions together,” Davis said. For Abu Seif, “all the tools that marketers have to engage consumers, we are empowering companies to engage with their employees.”

Despite the startup and product’s youth, it has attracted a quick following among companies, with customers including Podium, ShipBob, Cedar, Mixpanel, ServiceNow and Superhuman. Podium’s CEO, for example, records weekly podcasts that are shipping on Spokn, and apparently even installed a podcast studio near his office just to make it easier to produce his shows.

Podcasting inside companies fixes a lot of problems with traditional internal comms. First and foremost, it can create a deeper connection where email cannot. Audio can feel more personal than even video, and also can be played in the background. It’s also asynchronous, unlike live video, allowing employees in different time zones to connect with key stories at an appropriate time.

Plus, employees can avoid all the fatigue that comes from being onscreen. “No one wants Zoom zombies,” Bordetsky of NEA said. “We need intuitive and asynchronous communication tools like Spokn to build connection and community in the workplace.” Her thesis for the investment is that “flexible, distributed work is here to stay and employee communication is at the heart of building a modern, virtual-first employee experience.”

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Buyers of Spokn range from heads of people to sales teams, and the company is also focused on recruiting and retention as well. “Companies are pretty freaked out about retaining their great talent,” Davis said. Some companies are now sharing “stories with prospects even before their first day at the company.”

While the product is mostly used by leaders today, Spokn wants to expand that remit to employees talking with their peer colleagues, helping to build community in hybrid offices where it is harder than ever to make a connection with others.

Of course, companies can screw up podcasting just as much as they have screwed up every other medium to communicate like humans, and Davis says it’s become her full-time job to help them think through storytelling and how to connect better with their own employees. We “work to find the right storytellers in the company,” she said.

Outside NEA, other investors in the seed round included Reach Capital, Funders Club, Liquid2, Share Capital, SOMA Capital, Scribble VC and Hack VC.

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Britive grabs $10M Series A to build automated multi-cloud permissions tool

Published May 19, 2021

Britive, an early-stage startup that is trying to bring privileged access control to a multi-cloud world, announced a $10 million Series A this morning. Crosslink Capital led the investment, with participation from previous investors Upfront Ventures and One Way Ventures.

The company helps automate permissioning across multiple cloud vendors and software services, whether that involves a human or a machine seeking permission. In a world of increasing automation, it’s often a machine seeking access, and that makes permissioning all the more critical, says Britive co-founder and CEO Art Poghosyan.

“What we offer is an automated approach to access, [moving from] what we call statically granted access, which constantly gets added all the time […] to completely ‘just in time access’,” he said. That means that after you define a policy, it sets the ground rules for access, and grants it based on that policy for the time required, and nothing more, whether you’re a human or a machine.

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In today’s complex development, world that could take many forms, including API keys and secrets. “Yes, sometimes those things are granted to a human actor like a DevOps engineer, but a lot of times it also needs to be granted — quote, unquote — to a Terraform script or to GitHub to go and build out application infrastructure or deploy an application,” he said.

The company currently has 40 employees, a number that Poghosyan expects to double in the next 12 months as he puts this capital to work. As a first-generation Armenian immigrant, Poghosyan says that he takes diversity and inclusion extremely seriously as he hires more employees.

“We’ve always been committed — in this business and our previous startup — to providing equal opportunities to talented people, no matter what background they come from. I’m really proud that even as a small company — we’re 40 at the moment — we have more than 50% of our workforce which comes from ethnic minority groups,” he said.

Britive, which is based in Los Angeles, launched in 2018 and brought its first product to market in 2019. The company raised a $5.4 million seed round last July, which it announced in September, making the total raised so far approximately $15.4 million.

Pitching access management on the fly, Los Angeles-based Britive raises $5.4 million

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Unbounce snags Snazzy.ai to add automated copywriting to platform

Published May 19, 2021

Unbounce, a Vancouver startup best known for helping marketers create automated landing pages, added a new wrinkle this morning when it announced it has acquired Snazzy.ai, an early-stage automated copywriting startup. The two companies did not share the terms.

Unbounce Chief Strategy Officer Tamara Grominsky says that her company focuses on helping customers convert their customers into sales, and with Snazzy, it gets some pretty nifty technology based on GPT-3 artificial intelligence technology.

“We’re focused right now on building conversion intelligence software that will allow marketers to work with machines to really unlock their true conversion potential […] and we saw a huge opportunity with Snazzy to focus particularly on the content creation and copy creation space to help us accelerate that strategy,” Grominsky explained.

She points out that the product is really aimed at the marketing generalist charged with overseeing landing pages, and who is responsible for a range of tasks including writing copy. “The average Unbounce customer isn’t a specialized copywriter, so they don’t spend [their work] day writing copy. They’re what we would consider a marketing generalist or really someone who’s responsible for a wide range of marketing responsibilities,” she said.

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Snazzy co-founder Chris Frantz says the tech is really about getting people started, and then they can tweak the results as needed. “The hardest part has always been to get that first line, that first page, the first couple of words in — and we eliminate that entirely. That might not always result in amazing copy, but on the plus side you can always click the button again and give it another try,” he said.

Frantz says that with so much competition in the space, he and his co-founder felt they could build a market much faster as part of a larger and broader marketing platform solution like Unbounce.

“I love Tamara’s vision for the future of Unbounce. I think she has a very ambitious vision. She sold me on that very early on in the process. At the same time, there was a lot of competition in the space, and to have a key differentiator with a company like Unbounce, which has a decade of marketing experience and a lot of trust within this community, I think it’s a very powerful wedge that we can use to further grow our audience,” Frantz said.

The tool lets you write a range of copy, from landing pages to Google ad copy. The company launched in alpha last October and already had 30,000 customers, which Grominsky says Unbounce hopes to convert into customers. The good news for those customers is that the company plans to leave Snazzy as a standalone product, while incorporating the tech into the platform in ways that make sense in the coming year.

Unbounce raises $38.4M to build better landing pages with automation

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Forecast nabs $19M for its AI-based approach to project management and resource planning

Published May 19, 2021

Project management has long been a people-led aspect of the workplace, but that has slowly been changing. Trends in automation, big data and AI have not only ushered in a new wave of project management applications, but they have led to a stronger culture of people willing to use them. Today, one of the startups building a platform for the next generation of project management is announcing some funding — a sign of the traction it’s getting in the market.

Forecast, a platform and startup of the same name that uses AI to help with project management and resource planning — put simply, it uses artificial intelligence to both “read” and integrate data from different enterprise applications in order to build a bigger picture of the project and potential outcomes — has raised $19 million to continue building out its business.

The company plans to use some of the funding to expand to the U.S., and some to continue building out its platform and business, headquartered in London with a development office also in Copenhagen.

This funding, a Series A, comes less than a year after the startup’s commercial launch, and it was led by Balderton Capital, with previous investors Crane Ventures Partners, SEED Capital and Heartcore also participating.

Forecast closed a seed round in November 2019 and then launched just as the pandemic was kicking off. It was a time when some projects were indeed put on ice, but others that went ahead did so with more caution on all sorts of fronts — financial, organizational and technical. It turned out to be a “right place, right time” moment for Forecast, a tool that plays directly into providing a technical platform to manage all of that in a better way, and it tripled revenues during the year. Its customers include the likes of the NHS, the Red Cross, Etain and more. It says over 150,000 projects have been created and run through its platform to date.

Project management — the process of planning what you need to do, assigning resources to the task and tracking how well all of that actually goes to plan — has long been stuck between a rock and a hard place in the world of work.

It can be essential to getting things done, especially when there are multiple departments or stakeholders involved; yet it’s forever an inexact science that often does not reflect all the complexities of an actual project, and therefore may not be as useful as it could or should be.

This was a predicament that founder and CEO Dennis Kayser knew all too well, having been an engineer and technical lead on a number of big projects himself. His pedigree is an interesting one: One of his early jobs was as a developer at Varien, where he built the first version of Magento. (The company was eventually rebranded as Magento and then acquired by eBay, then spun out, then acquired again, this time by Adobe for nearly $1.7 billion, and is now a huge player in the world of e-commerce tools.) He also spent years as a consultant at IBM, where among other things he helped build and formulate the first versions of ikea.com.

In those and other projects, he saw the pitfalls of project management not done right — not just in terms of having the right people on a project at the right time, but the resource planning needed, better calculations of financial outcomes in the event of a decision going one way or the other, and so on.

He didn’t say this outright, but I’m sure one of the points of contention was the fact that the first ikea.com site didn’t actually have any e-commerce in it, just a virtual window display of sorts. That was because Ikea wanted to keep people shopping in its stores, away from the efficiency of just buying the one thing you actually need and not the 10 you do not. Yes, there are plenty of ways now of recirculating people to buy more when you select one item for a shopping cart — something the likes of Amazon has totally mastered — but this was years ago when there was still even more opportunities for innovation than there are now. All of this is to say that you might very reasonably argue that had there been better project managing and resource planning tools to give forecasts of potential outcomes of one or another route taken, people advocating for a different approach could have made their case better. And maybe Ikea would have jumped on board with digital commerce far sooner than it did.

“Typically you get a lot of spreadsheets, people scattered across different tools that include accounting, CRM, Gitlab and more,” Kayser said.

That became the impetus for trying to build something that can take all of that into account and make a project management tool that — rather than just being a way of accounting to a higher-up, or reflecting only what someone can be bothered to update in the system — something that can help a team.

“Connecting everything into our engine, we leverage data to understand what they are working on and what is the right thing to be working on, what the finances are looking like,” he continued. “So if you work in product, you can plan out who is where, and what resourcing you need, what kind of people and skills you require.” This is a more dynamic progression of some of the other newer tools that are being used for project management today, targeting, in his words, “people who graduate from Monday and Asana who need something more robust, either because they have too many people working on a project or because it’s too complicated, there is just too much stuff to handle.”

More legacy tools he said that are used include Oracle “to some degree” and Mavenlink, which he describes as possibly Forecast’s closest competitor, “but its platform is aging.”

Currently the Forecast platform has some 26 integrations of popular tools used for projects to produce its insights and intelligence, including Salesforce, Gitlab, Google Calendar, and, as it happens, Asana. But given how fragmented the market is, and the signals one might gain from any number of other resources and apps, I suspect that this list will grow as and when its customers need more supported, or Forecast works out what can be gleaned from different places to paint an even more accurate picture.

The result may not ever replace an actual human project manager, but certainly starts to then look like a “digital twin” (a phrase I have been hearing more and more these days) that will definitely help that person, and the rest of the team, work in a smarter way.

“We are really excited to be an early investor in Forecast,” said James Wise, a partner at Balderton Capital, in a statement. “We share their belief that the next generation of SaaS products will be more than just collaboration tools, but use machine learning to actively solve problems for their users. The feedback we got from Forecast’s customers was quite incredible, both in their praise for the platform and in how much of a difference it had already made to their operations. We look forward to supporting the company to scale this impact going forward.”

As M&A accelerates, deal-makers are leveraging AI and ML to keep pace

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