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Device monitoring and management startup Memfault nabs $8.5M

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Memfault, a startup developing software for consumer device firmware delivery, monitoring, and diagnostics, today closed an $8.5 million series A funding round. CEO François Baldassari says the capital will enable Memfault to scale its engineering team and make investments across product development and marketing.

Slow, inefficient, costly, and reactive processes continue to plague firmware engineering teams. Often, companies recruit customers as product testers — the first indication of a device issue comes through users contacting customer service or voicing dissatisfaction on social media. With 30 billion internet of things (IoT) devices predicted to be in use by 2025, hardware monitoring and debugging methods could struggle to keep pace. As a case in point, Palo Alto Networks’ Unit 42 estimates that 98% of all IoT device traffic is unencrypted, exposing personal and confidential data on the network.

Memfault, which was founded in 2019 by veterans of Oculus, Fitbit, and Pebble, offers a solution in a cloud-based firmware observability platform. Using the platform, customers can capture and remotely debug issues as well as continuously monitor fleets of connected devices. Memfault’s software development kit is designed to be deployed on devices to capture data and send it to the cloud for analysis. The backend identifies, classifies, and deduplicates error reports, spotlighting the issues likely to be most prevalent.

Baldassari says that he, Tyler Hoffman, and Christopher Coleman first conceived of Memfault while working on the embedded software team at smartwatch startup Pebble. Every week, thousands of customers reached out to complain about Bluetooth connectivity issues, battery life regressions, and unexpected resets. Investigating these bugs was time-consuming — teams had to either reproduce issues on their own units or ask customers to mail their watches back so that they could crack them open and wire in debug probes. To improve the process, Baldassari and his cofounders drew inspiration from web development and infrastructure to build a framework that supported the management of fleets of millions of devices, which became Memfault.

By aggregating bugs across software releases and hardware revisions, Memfault says its platform can determine which devices are impacted and what stack they’re running. Developers can inspect backtraces, variables, and registers when encountering an error, and for updates, they can split devices into cohorts to limit fleet-wide issues. Memfault also delivers real-time reports on device check-ins and notifications of unexpected connectivity inactivity. Teams can view device and fleet health data like battery life, connectivity state, and memory usage or track how many devices have installed a release — and how many have encountered problems.

“We’re building feedback mechanisms into our software which allows our users to label an error we have not caught, to merge duplicate errors together, and to split up distinct errors which have been merged by mistake,” Baldassari told VentureBeat via email. “This data is a shoo-in for machine learning, and will allow us to automatically detect errors which cannot be identified with simple heuristics.”

Memfault

IDC forecasts that global IoT revenue will reach $742 billion in 2020. But despite the industry’s long and continued growth, not all organizations think they’re ready for it — in a recent Kaspersky Lab survey, 54% said the risks associated with connectivity and integration of IoT ecosystems remained a major challenge.

That’s perhaps why Memfault has competition in Amazon’s AWS IoT Device Management and Microsoft’s Azure IoT Edge, which support a full range of containerization and isolation features. Another heavyweight rival is Google’s Cloud IoT, a set of tools that connect, process, store, and analyze edge device data. Not to be outdone, startups like Balena, Zededa, Particle, and Axonius offer full-stack IoT device management and development tools.

But Baldassari believes that Memfault’s automation features in particular give the platform a leg up from the rest of the pack. “Despite the ubiquity of connected devices, hardware teams are too often bound by a lack of visibility into device health and a reactive cycle of waiting to be notified of potential issues,” he said in a press release. “Memfault has reimagined hardware diagnostics to instead operate with the similar flexibility, speed, and innovation that has proven so successful with software development. Memfault has saved our customers millions of dollars and engineering hours, and empowered teams to approach product development with the confidence that they can ship better products, faster, with the knowledge they can fix bugs, patch, and update without ever disrupting the user experience.”

Partech led Memfault’s series A raise with participation from Uncork Capital, bringing the San Francisco, California-based company’s total raised to $11 million. In addition to bolstering its existing initiatives, Memfault says it’ll use the funding to launch a self-service of its product for “bottom-up” adoption rather than the sales-driven, top-down approach it has today.

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Source: https://venturebeat.com/2021/04/01/device-monitoring-and-management-startup-memfault-nabs-8-5m/

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Onestream: Data analysis, AI tools usage increased in 2021

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CFOs and other finance executives are optimistic that economic recovery is on the horizon: three-quarters (73 percent) expect that they will return to normal growth by the end of 2021, according to the latest Enterprise Financial Decision-Making Report from OneStream, a provider of corporate performance management solutions for mid-sized and large enterprises. Companies have significantly increased their data analysis tool investments and usage over the past year, the report found.

Above: Over half of companies are using data analysis tools more than before the pandemic. Companies in the IT and finance industries, and those with over 1,000 employees, are using data analysis tools significantly more than others.

Image Credit: Onestream Software

OneStream’s study targeted finance leaders across North America and identified the factors driving their priorities, budgets and technology adoption plans for 2021. The survey found that the COVID-19 pandemic created a heightened need for agile forecasting, predictive planning and digital transformation. The ability to quickly reforecast budgets and shift workflows has become essential.

The 2021 report found that finance executives have significantly increased their data analysis tool investments and usage. Companies commonly invested in artificial intelligence (59 percent) and increased their use of cloud-based planning and reporting solutions (65 percent). Most companies already use (69 percent) or plan to use (18 percent) low-code development platforms, which enable business users and citizen developers to take on new roles while circumventing complicated coding requirements. For return-to-office budgets, data privacy tools are the most common priority (18%), followed by hybrid cloud technologies.

Compare the results with OneStream’s 2020 Enterprise Financial Decision-Making Report where less than half (46 percent) of the finance executives reported using cloud-based solutions regularly, while less than a quarter used machine learning (21 percent) and artificial intelligence (20 percent) solutions.

Many finance executives are evaluating their workforce, technology and supply chain needs for a post-pandemic reality. However, the political and social landscape have also heavily impacted investment decisions, leading executives to prioritize sustainability and diversity initiatives as well.

The commissioned study, conducted by Hanover Research in April of 2021, sourced insights from 340 finance decision makers in the United States, Canada and Mexico. All individuals hold management position (C-level executive (CFO), VP, Director, Controller) in finance. Respondents work at companies across numerous industries and varying revenues, with 24 percent employed by companies with over $1 billion in annual revenue.

Read the full Onestream report Enterprise Financial Decision-Making Report 2021 — North America.

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Source: https://venturebeat.com/2021/05/11/onestream-data-analysis-ai-tools-usage-increased-in-2021/

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Onestream: Data analysis, AI tools usage increased in 2021

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Join Transform 2021 this July 12-16. Register for the AI event of the year.


CFOs and other finance executives are optimistic that economic recovery is on the horizon: three-quarters (73 percent) expect that they will return to normal growth by the end of 2021, according to the latest Enterprise Financial Decision-Making Report from OneStream, a provider of corporate performance management solutions for mid-sized and large enterprises. Companies have significantly increased their data analysis tool investments and usage over the past year, the report found.

Above: Over half of companies are using data analysis tools more than before the pandemic. Companies in the IT and finance industries, and those with over 1,000 employees, are using data analysis tools significantly more than others.

Image Credit: Onestream Software

OneStream’s study targeted finance leaders across North America and identified the factors driving their priorities, budgets and technology adoption plans for 2021. The survey found that the COVID-19 pandemic created a heightened need for agile forecasting, predictive planning and digital transformation. The ability to quickly reforecast budgets and shift workflows has become essential.

The 2021 report found that finance executives have significantly increased their data analysis tool investments and usage. Companies commonly invested in artificial intelligence (59 percent) and increased their use of cloud-based planning and reporting solutions (65 percent). Most companies already use (69 percent) or plan to use (18 percent) low-code development platforms, which enable business users and citizen developers to take on new roles while circumventing complicated coding requirements. For return-to-office budgets, data privacy tools are the most common priority (18%), followed by hybrid cloud technologies.

Compare the results with OneStream’s 2020 Enterprise Financial Decision-Making Report where less than half (46 percent) of the finance executives reported using cloud-based solutions regularly, while less than a quarter used machine learning (21 percent) and artificial intelligence (20 percent) solutions.

Many finance executives are evaluating their workforce, technology and supply chain needs for a post-pandemic reality. However, the political and social landscape have also heavily impacted investment decisions, leading executives to prioritize sustainability and diversity initiatives as well.

The commissioned study, conducted by Hanover Research in April of 2021, sourced insights from 340 finance decision makers in the United States, Canada and Mexico. All individuals hold management position (C-level executive (CFO), VP, Director, Controller) in finance. Respondents work at companies across numerous industries and varying revenues, with 24 percent employed by companies with over $1 billion in annual revenue.

Read the full Onestream report Enterprise Financial Decision-Making Report 2021 — North America.

VentureBeat

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  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more

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Source: https://venturebeat.com/2021/05/11/onestream-data-analysis-ai-tools-usage-increased-in-2021/

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Digital transformation will spur economic boom in 2021, CEOs tell Gartner

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Chief executives around the world expect a return to strong economic growth over the next two years and are betting on digital transformation, AI technology, and corporate activism to help make it happen.

Some 60% of CEOs polled for Gartner’s 2021 CEO Survey said they anticipate a return to economic growth this year and in 2022. That follows pandemic-ravaged global economic performance in 2020, the research firm said. Gartner on Tuesday released its annual survey, which over six months last year polled 465 CEOs and other senior business executives employed at companies of varying size, revenue, and industries located in North America, EMEA, and APAC.

“CEOs’ top priorities for 2021 show confidence,” said Mark Raskino, research vice president at Gartner. “Over half report growth as their primary focus and see opportunity on the other side of the crisis, followed by technology change and corporate action.”

“This year, all leaders will be working hard to decode what the post-pandemic world looks like, and redeveloping mid- to long-range business strategy accordingly. In most cases, that will uncover a round of new structural changes to capability, location, products, and business models,” Raskino said in a statement.

AI, quantum computing, 5G are strategic priorities

Respondents cited business growth, technology change, and corporate actions such as mergers and acquisitions as the top three priorities for their companies over the next two years. Technology is a particularly strategic concern for CEOs — digital capabilities were the only area where a majority of respondents said they planned to increase investment in 2021.

Gartner found that more CEOs than ever are citing digital change and investment as a priority for their organizations. When they gave answers about top strategic business priorities in their own words, 20% of CEOs used the word “digital,” up from 17% in 2020 and 15% in 2019. The unprompted citation of digitization as a priority has been steadily increasing in Gartner’s survey over the past several years, growing from just 2% of citations in 2012.

Drilling down to specific technological areas where CEOs expect to invest, respondents cited AI as the “most industry-impactful technology” over the coming years, Gartner said. Some 30% of respondents said quantum computing would be “highly relevant” to their companies’ long-term plans, but a majority weren’t certain how that would look. Respondents also cited blockchain and 5G as technologies they were focused on.

While a majority of CEOs polled did not have designated data officers such as chief digital officers or chief data officers, 83% of respondents said they employed chief information officers. A majority of CEOs surveyed by Gartner said their “top ask” of their CIOs is digitalization.

The United States-China economic rivalry and trade relations between the countries was another area of concern for Gartner respondents. One-third of surveyed CEOs said that “evolving trade disputes between the two nations” over core technologies like AI and 5G were “a significant concern for their businesses.”

CEOs see M&A opportunities, remote work in store

Global CEOs also cited M&As and other corporate actions, social and environmental issues, and new workplace conditions resulting from the pandemic as primary areas of focus.

Interestingly, fewer respondents than in previous surveys cited “sales revenue” as a growth priority, while more mentioned “new markets.” Gartner’s Raskino suggested that this shift, plus the increased emphasis on M&A opportunities, “shows that CEOs and senior executives seeking advantage from a cyclical downturn are going shopping for structural inorganic growth” rather than counting on incremental sales growth “using the strategies that have served them well in the past.”

“‘Techquisitions’ can bolster digital business progress, while also providing access to potential fast-growth market sectors,” Raskino said.

Meanwhile, more than 80% of CEOs believe “societal behavior change” taking place during the pandemic to become more or less the “new normal.” Most expect hybrid work-from-home arrangements to become permanent for many workers, while expenditures on travel-related activities will remain lower than before the pandemic.

These developments, as well as nearly half of surveyed companies’ prioritization of sustainability to mitigate climate change, will further increase companies’ reliance on digital technology and digital channel flexibility in the coming years, said Kristin Moyer, Gartner research vice president.

“This suggests that continuing to improve the way customers are served digitally will be vital,” Moyer said.

VentureBeat

VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:

  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more

Become a member

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Source: https://venturebeat.com/2021/05/11/digital-transformation-will-spur-economic-boom-in-2021-ceos-tell-gartner/

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AI

Digital transformation will spur economic boom in 2021, CEOs tell Gartner

Avatar

Published

on

Join Transform 2021 this July 12-16. Register for the AI event of the year.


Chief executives around the world expect a return to strong economic growth over the next two years and are betting on digital transformation, AI technology, and corporate activism to help make it happen.

Some 60% of CEOs polled for Gartner’s 2021 CEO Survey said they anticipate a return to economic growth this year and in 2022. That follows pandemic-ravaged global economic performance in 2020, the research firm said. Gartner on Tuesday released its annual survey, which over six months last year polled 465 CEOs and other senior business executives employed at companies of varying size, revenue, and industries located in North America, EMEA, and APAC.

“CEOs’ top priorities for 2021 show confidence,” said Mark Raskino, research vice president at Gartner. “Over half report growth as their primary focus and see opportunity on the other side of the crisis, followed by technology change and corporate action.”

“This year, all leaders will be working hard to decode what the post-pandemic world looks like, and redeveloping mid- to long-range business strategy accordingly. In most cases, that will uncover a round of new structural changes to capability, location, products, and business models,” Raskino said in a statement.

AI, quantum computing, 5G are strategic priorities

Respondents cited business growth, technology change, and corporate actions such as mergers and acquisitions as the top three priorities for their companies over the next two years. Technology is a particularly strategic concern for CEOs — digital capabilities were the only area where a majority of respondents said they planned to increase investment in 2021.

Gartner found that more CEOs than ever are citing digital change and investment as a priority for their organizations. When they gave answers about top strategic business priorities in their own words, 20% of CEOs used the word “digital,” up from 17% in 2020 and 15% in 2019. The unprompted citation of digitization as a priority has been steadily increasing in Gartner’s survey over the past several years, growing from just 2% of citations in 2012.

Drilling down to specific technological areas where CEOs expect to invest, respondents cited AI as the “most industry-impactful technology” over the coming years, Gartner said. Some 30% of respondents said quantum computing would be “highly relevant” to their companies’ long-term plans, but a majority weren’t certain how that would look. Respondents also cited blockchain and 5G as technologies they were focused on.

While a majority of CEOs polled did not have designated data officers such as chief digital officers or chief data officers, 83% of respondents said they employed chief information officers. A majority of CEOs surveyed by Gartner said their “top ask” of their CIOs is digitalization.

The United States-China economic rivalry and trade relations between the countries was another area of concern for Gartner respondents. One-third of surveyed CEOs said that “evolving trade disputes between the two nations” over core technologies like AI and 5G were “a significant concern for their businesses.”

CEOs see M&A opportunities, remote work in store

Global CEOs also cited M&As and other corporate actions, social and environmental issues, and new workplace conditions resulting from the pandemic as primary areas of focus.

Interestingly, fewer respondents than in previous surveys cited “sales revenue” as a growth priority, while more mentioned “new markets.” Gartner’s Raskino suggested that this shift, plus the increased emphasis on M&A opportunities, “shows that CEOs and senior executives seeking advantage from a cyclical downturn are going shopping for structural inorganic growth” rather than counting on incremental sales growth “using the strategies that have served them well in the past.”

“‘Techquisitions’ can bolster digital business progress, while also providing access to potential fast-growth market sectors,” Raskino said.

Meanwhile, more than 80% of CEOs believe “societal behavior change” taking place during the pandemic to become more or less the “new normal.” Most expect hybrid work-from-home arrangements to become permanent for many workers, while expenditures on travel-related activities will remain lower than before the pandemic.

These developments, as well as nearly half of surveyed companies’ prioritization of sustainability to mitigate climate change, will further increase companies’ reliance on digital technology and digital channel flexibility in the coming years, said Kristin Moyer, Gartner research vice president.

“This suggests that continuing to improve the way customers are served digitally will be vital,” Moyer said.

VentureBeat

VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:

  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more

Become a member

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://venturebeat.com/2021/05/11/digital-transformation-will-spur-economic-boom-in-2021-ceos-tell-gartner/

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