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The best drip coffee makers of 2020

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There are so many brewing methods to choose from (French press, the currently trendy dalgona whipped, pour-over), but many caffeine fiends still rely on the classic, automatic drip for their daily fix. As tried and true as drip may be, however, there’s a wide range of options that can leave consumers befuddled. Do you seek a traditional or more design-forward setup? Nifty bonus features to meet everyone’s needs, or do-one-primary-thing-really-well? Perhaps most importantly, does spending more money mean better coffee?

In an effort to answer these questions for you, we tested and retested the best-rated automatic drip coffee makers using a wide range of criteria (outlined below) over the course of several weeks. Bags upon bags of dark roast, light roast and medium roast beans were ground and brewed. We made full carafes, half carafes and single cups. And we tasted the results black, with cow’s milk, almond milk, sweetened condensed milk, cold-brew strength over ice — you name it.

Many, many pots of coffee later, we settled on four standout machines:

A quick look at the winners

The best drip coffee makers

Overall, the Braun KF6050WH BrewSense Drip Coffee Maker scored highest, with a consistently delicious, hot cup of coffee, brewed efficiently and cleanly, from sleek, relatively compact hardware that is turnkey to operate, and all for a reasonable price.

A close second was the touchscreen version of the Cuisinart automatic drip. This was, to our eye, the most handsome and minimally designed of the straightforward auto-brewers, delivering a clean, tasty cup. It lost first place only because the touchscreen may not be for every consumer, and brew time is significantly longer than the other machines we tried out — and for many users, especially on a busy morning, a faster cup is a better one.

The Netherlands-based Moccamaster brand has a devoted following, and we now understand why: In just near five minutes, the Technivorm Moccamaster 59636 KBG Coffee Brewer turns out a whole pot of pretty perfectly brewed coffee, and the process is as entrancing as a targeted Netflix trailer. The design is a little more complicated than most of the machines on this list, though, and the price point of over $300 designates this as a niche item.

Finally, ringing up at $19.99, the Mr. Coffee 12-cup brewer is compact, simple to operate and yields a very competitive cup.

A deep dive into the winners

Best overall drip coffee maker: Braun KF6050WH BrewSense Drip Coffee Maker ($79.95; amazon.com)

Braun KF6050WH BrewSense Drip Coffee Maker

We brewed countless pots of coffee with the BrewSense, ranging from light to dark roast, and each one yielded a strong, delicious cup with no sediment, thanks to the gold tone filter, designed to remove the bitterness from coffee as well reduce single-use paper-filter waste. The machine we tested was white — a nice option for those with a more modern kitchen design — but it also comes in black, and it’s compact enough to fit under the cabinets in a smaller space compared to some of the more cumbersome machines we tested.

The BrewSense is straightforward to operate: It’s designed like a traditional automatic drip machine with manual operating buttons, but with a sleek, modern upgrade. The hardware is a sophisticated combination of brushed metal and plastic, with a glass carafe that feels comfortable in the hand.

The BrewSense doesn’t have a lot of bells and whistles compared to some of the machines we tested, and that functional ease helped elevate it to the top of our list. You could unbox this machine, flush it through with water once, and be drinking a freshly brewed cup within 15 minutes, all without reading the manual. Brewing is also a nearly silent process, which can be pleasing on early mornings. Some consumers may want a machine loaded with special features, but for those who just want delicious, hot coffee every morning, without spending over a hundred bucks, this is your best bet.

The BrewSense isn’t perfect: It’s not the fastest we tested — to brew a full pot of 12 cups took upwards of 11 minutes. And we found an annoying error in the instruction manual around how to program the clock (call us rigid, but we insisted on programming the time before using each of the machines!); the directions read to press and hold CLOCK and then SET, but that didn’t work. We had to simply press and hold the CLOCK button and then sort of trial and error our way through the hours and minutes. Meanwhile, the auto-program setup is not as obvious as we’d have liked; though once we got it, it worked like a dream. But otherwise, we found this machine intuitive and easy to operate even without the instruction manual.

Cleanup could at times be a little messier than some of our other machines. The hot water comes up through the filter and spreads the grounds up to the top of the cone, and during one brewing, a tiny bit rose up outside the cone so the top of the brew apparatus needed a little wipedown. Overall, though, for less than $80, this machine delivers the best bang for your buck of anything on the market.

Runner-Up: Cuisinart Touchscreen 14-Cup Programmable Coffeemaker ($129.99, regularly $235; macys.com)

Cuisinart Touchscreen 14-Cup Programmable Coffeemaker

Coming in just a few points behind the Braun BrewSense was one of the three Cuisinart automatic drip machines we tested: the Touchscreen 14-Cup Programmable.

We rated all three Cuisinarts highly, but the Touchscreen ranked highest for its combination of progressive design and everyday efficacy. All the Cuisinart products we encountered were well designed, but this one feels special, like when you unbox a brand-new Apple product: Its all-black, shiny surfaces and touchscreen control panel look and feel next-level for an everyday coffee maker (and the price, $235 at Macy’s, more than three times that of the Braun, reflects that).

But this isn’t just a fancy, aesthetically pleasing machine: It brewed strong, delicious coffee that tasted cleanly filtered but rich. It’s also relatively easy to program and use, given its tech-centric platform. The touchscreen panel features cute little icons signifying one-touch commands to help customize your brew: If you like your coffee bolder, you can select the BOLD feature; if you’re brewing less than half a pot, select the 1 to 4 cups feature for a slower brew with the proper extraction time; adjust the warming plate temperature to low, medium or high; turn the audible brew-cycle-finished tone on or off.

That tech-centric design is also one of the reasons this didn’t come in at number one, however. As exciting and different as it felt, we did feel that this machine — the only touchscreen model we tested — would feel less intuitive and more laborious than some consumers would want as part of their morning coffee routine. The touchscreen goes dark during the brew process, which yes, is nice-looking, but also feels a bit jarring, like you’re literally in the dark, asking yourself, “What’s going on? Is coffee brewing?” The settings and operating buttons are clear enough when illuminated, but it did take us a few times brewing to get used to how much pressure you need to apply with your fingertip to the touchscreen. We could easily think of people in our own lives who would be flummoxed by this machine if left alone with it and a bag of coffee — and for that, it lost a few points in functionality.

Also, like its Cuisinart cousins we tested, this one’s a slower brewer. We clocked 11 minutes for eight cups, and if you’re watching your coffee maker brew like, well, a watched pot, it seems like it … takes forever. We understand the appeal of a slower brewing process (pour-over and Chemex fans, we hear you!), but 12 to 14 minutes for a full pot of coffee seems like a long time to wait when you’re thirsty for your morning Joe and you’re not doing it by hand. Finally, not everyone will want to spend more than $200 on a coffee maker. But many may.

While some consumers might be flummoxed by the technology of this higher-end product, others will embrace it and make it a centerpiece of their kitchen, and rightly so. Form plus function equals morning happiness here.

Luxury Pick: Technivorm Moccamaster 59636 KBG Coffee Brewer ($309; amazon.com)

Technivorm Moccamaster 59636 KBG Coffee Brewer

We had heard about the Technivorm Moccaster, a machine beloved for its innovative and old-school industrial design, handmade and tested in the Netherlands since 1968, even before we received it for this story. Multiple friends reached out upon hearing that we were testing a Moccamaster, singing the brand’s praises, and one declared it superlative via Instagram DM: “Moccamaster? Test over!” And the Moccamaster arrives with its own best PR too. Its user manualapplauds buyers: “Congratulations on your purchase of the World’s Finest Coffee Brewer!” (If you’re spending more than $300 on a coffee maker, perhaps the enthusiasm feels validating.)

Once we got the apparatus set up — which takes a little focus and time, to be honest — it really did pay off, with possibly the most delicious, hot, fresh cup of coffee we have ever tasted from a home-brewed machine. What’s more, you barely have time to peruse the morning news headlines before the process is done. The Moccamaster brewed 10 cups in less than six minutes, and, on a second trial, six cups in under four minutes. The brew function is almost jarringly fast: Once you turn on the machine, the brewing starts immediately. Then, seeing the water heat in the tank and bubble up through the water transfer tube into the brewer was a throwback to middle-school science experiments in the most pleasing way, like if a lava lamp produced fresh hot coffee after a few mesmerizing undulations.

We discovered much to love about the Moccamaster, but there also were elements we didn’t adore. Perhaps ironically, they’re about the design. Some love a more hands-on coffee-making process, but some might find that there are just too many moving parts here, literally. We needed to read the directions pretty closely to assemble the parts. Once assembled, and once we digested what was happening brew-process-wise, the machine became fairly easy to operate.

But each time you use this machine, you have to take the brew basket apart to add a new paper filter (yes, it requires a paper filter, if that makes a difference to you) and coffee grounds, and that basket removal sometimes disrupts the outlet arm and the reservoir lid — not a huge deal, but it could feel like you have to put your coffee maker back together from scratch every morning. Also, the basket lid and outlet arm, through which the hot water travels from the tube to the brew basket, get very hot during the process. It’s fine if you’re aware and cautious, but you wouldn’t want someone to wander up and unknowingly touch the hot part of the brewer.

And finally, perhaps our most significant beef with this model: When you return the glass carafe to hotplate in between pours, the glass scrapes the warmer in a slightly cringey way.

The coffee that this striking machine yields, though, may diminish other distractions — we found ourselves moving this maker back to the kitchen counter time and again, because the brew process and its results were superior. If you, like us, are a fan of the Moccamaster, you’re likely to be one for many years to come, which will amortize the steep price tag accordingly.

Budget Pick: Mr. Coffee 12-Cup Coffee Make ($19.99; target.com)

Mr. Coffee 12-Cup Coffee Maker

We won’t go on and on about the Mr. Coffee 12-Cup, but it brewed a very workable 12 cups, in both taste and temperature, in just nine minutes. The machine came packaged in some pretty intense plastic and cardboard — the unboxing took a full five minutes and a pair of scissors — but once separated from its packaging, this machine’s a breeze to put together. The hardware is very easy to use (and to program to brew at a specific time), even without reading the directions. It’s compact and durable, and the lid, brew basket, carafe and removable top half are all dishwasher safe, which wasn’t common among the machines we tested. For less than $20, this maker delivers, and it’s ideal for individuals or groups who want a machine that’s not too fussy nor expensive.

How we tested

The testing process for these coffee makers was intensive, lasting more than a month. We evaluated each machine based on what would be most important to the user — namely, functionality, durability and design. We tested each machine at least twice (but four to eight times for some) with both dark and light roast freshly ground beans, did a programmed/timed brew when available, and tested the additional functions of the more specialty machines (single-cup, cold brew, tea, milk frothing). We jotted notes about every machine’s unboxing, read every instruction manual, handled and rehandled the hardware, timed the brew of each machine, noted the temperature of the resulting coffee, and tasted and had others taste and weigh in on user experience. We tried to get as acquainted as possible with each of these machines, became fond of a good many of them — and as a result, we drank way too much coffee over the month in question.

Read on for the categories and their breakdowns.

Brew function

  • Optimal temperature: We didn’t take the actual temperature of the coffee from each machine, because we don’t think that’s how the average coffee drinker evaluates home brewing — experts recommend that coffee be brewed at between 195 and 205 degrees Fahrenheit, and served immediately, at 180 to 185 degrees — but we scored the perceived temp of each brew against all the others. We tasted each cup immediately after brewing, black, and then with added cold milk, and recorded the results.
  • Taste: The taste of coffee is, obviously, subjective. Two people could spend a lifetime tasting the different coffee varietals and never agree on one. That being said, we tested each machine with both a dark roast and a light roast, keeping the amount of grounds consistent to the machine’s directions. As a result, some machines that recommended using more grounds yielded stronger brews — in those instances, we retested those with less grounds accordingly.
  • Time to brew: For each carafe brewed, we timed the process on an iPhone timer, both for a full carafe and half. For those machines that made single cups, we timed that process as well.
  • Heat retention: We noted whether the machine brewed into a glass or a thermal carafe, and how hot the coffee remained a half hour to an hour after brewing.
  • User-friendliness: We did an initial scan of each machine, evaluating whether a new customer would be able to brew coffee without reading the instruction manual. We then assessed whether the design of each machine is immediately intuitive, and on a more micro level, assessed the settings and buttons on the face of the machine, the markings on the water tank and carafe, how easy the carafe is to fill, and the design of the brew basket.
  • Volume yield: We noted how many ounces each machine can brew.
  • Programmability: We recorded whether you can program the machine to brew at a set time.

Durability

  • Everyday durability: For this category, we assessed how the machine responded to being handled during setup, filling the water tank, adding the grounds, removing and replacing carafe to serve, cleanup, and how durable the hardware felt.
  • Build quality: We noted what materials the machine is built from, e.g., plastic, metal, brushed metal, glass, and the tangible feel of each machine in a user’s hands.
  • Serviceability: We noted the ease of opening and taking apart the removable parts of each machine, in the case it would need to be serviced.

Setup and breakdown

  • Ease of assembly: We observed how long it took to unbox the machine, put it together, and do an initial water flush before the product could be used.
  • Size of machine: We assessed how much counter space each machine took up, and how easy it is to move and store.
  • Ease of clean: After each brewing, we took note of how easy it was to clean the brew basket, the carafe, and the surrounding hardware.

Aesthetic

  • First impression: We observed our first impression of each machine, noting details of design, color, size, feel — whether this machine looked attractive on our counter.
  • Color options: We researched if the machine came in any colors besides black.

Warranty

  • We checked the number of years of warranty of each machine.

How we rated

Using the procedures described above, we gave each coffee maker a score in each subcategory, then combined those numbers for a maximum score in each category, then totaled those numbers for a final overall score. We broke down the scores as follows:

  • Function had a maximum of 50 points: optimal brew temperature (15), taste (10), time to brew (5), heat retention (5), user friendliness (5), volume (5), and programmability (5).
  • Durability had a maximum of 20 points: everyday durability (10), build quality (5), serviceability (5).
  • Set up/breakdown had a maximum of 15 points: ease of assembly (5), size (5), ease of cleaning (5).
  • Aesthetic had a maximum of 10 points: first impression (5), and color (5).
  • Warranty had a maximum of 5 points: lifetime (5), two to five years (2), less than two years (0).

In addition to the overall score, we factored in the price of each machine, and its range of capabilities compared to the other models (e.g. the machines that could produce cold brew or single cup were notably not entirely equivalent to the basic drip machines).

Other drip coffee makers we tested

Everything else we tested

Ninja Hot and Cold Brewed System ($179.99, originally $199.99; amazon.com)

We tested two Ninja machines, both of which have some very appealing features. The hot and cold brew system brewed an excellent pot of hot coffee in less than five minutes, as well as a very tasty single cup (in multiple sizes), a less easy feat to perfect. It also brews coffee intended to be served directly over ice, an option that lots of consumers will like. We love the cool, minimalist glass carafe, though the lid features a big hole in the middle for pouring, which can lead to some splashing.

This machine, though prolific in function, lost points because the water tank — plastic with prominent ridges — feels cheap and devolves the user experience a bit (with this machine, thankfully, the plastic tank is in the back, hidden from view, but does need to be handled every time you add water). Another problem with this machine: The water tank doesn’t have marking measurements, only half carafe, and full carafe, and two sizes of single cup. Without ounce or cup markings, how does one know how much water to add versus amount of coffee grounds? The Ninja machines come with a special-sized coffee scoop, different amounts on each end of the scoop, but it was bothersome that the water and the coffee amounts couldn’t be more standardized without relying only on the provided removable accessories (which, for the record, are cute — there’s a removable frothing wand). A lot of performance features with this machine also means a busy control panel that also feels a bit high-maintenance.

Ninja Specialty Coffee Maker with Glass Carafe ($159.99; amazon.com)

The Ninja Specialty is similar to the hot and cold brewed one, with one major difference: The water tank is adjacent to the brew basket, and visible to the eye. This one also brews a very nice cup of hot fresh coffee, and has nifty added functions, too, like myriad sizes of individual cups, half and full carafes, and an over-ice option. The placement of the water tank front and center here, though, makes this one less appealing than the hot and cold option; the tank, similarly, feels flimsy and cheap, a factor that’s difficult to overlook in user experience. For those who like the Ninja brand products (they make blenders and other items), though, there’s a lot of function for your buck here.

Cuisinart PerfecTemp 14-Cup Programmable Coffeemaker ($99.95, originally $185; amazon.com)

The most basic of the Cuisinart options we tested, this one brewed a nearly perfect cup at, for this reviewer, a perfectly hot temp (even after adding significant cold milk, we still had a steaming hot cup), thanks to an adjustable carafe temp. This machine is solid and well-designed, with one downside (for us): Brewing time was 14 minutes for eight cups, nearly double the time of some of the other brewers we tested.

Cuisinart Coffee Center 10-Cup Thermal Coffee Maker and Single Serve Brewer ($200.98, originally $229; amazon.com)

Our third Cuisinart brews only 10 cups into a thermal carafe, but has the handy bonus feature of a single-serve brew — with an attachment to use prepackaged coffee pods, or an adorable mini filter to use fresh grounds. (Note: The mini filter is a bit of a chore to clean because it is so small.) Like its Cuisinart siblings above, this machine makes good coffee, but the single-serve brewer does make the whole of the hardware more cumbersome. One annoying design issue: There’s an on/off switch on the side of the machine, whose placement feels not intuitive.

Everything else we tested

Breville BDC450 Precision Brewer ($299.95; williamssonoma.com)

We were giddy upon opening this fancy brewer with much to offer: standard brew, fast, gold (what even is that, I wondered at first glance!), cold brew, single cup (with a sold separately attachment), and a customizable to your preferences setting. The options are exciting, but also overwhelming. The user is prompted to enter the consistency of their water, on a hard to soft scale — do all home coffee drinkers know the texture of their tap water? Also, does the average coffee drinker know what Gold Cup certification is? These feel like niche details for an automatic drip machine.

Big picture, the Breville brewed a good pot of coffee, quite quickly, but we didn’t find it hot enough. The whole apparatus is beautifully designed, with sleek brushed metal and a lightweight, handsome carafe lovely enough to join a brunch table. But digging in further, we found this machine just to be … too much. Too much hardware — it doesn’t fit easily under our cabinets. Too many options — we needed to read up on a bunch of coffee wisdom before we could even set up the machine to our preferences. There are lots of users who would find this machine the sweet spot of function and sophistication, and enjoy exploring all of its specialties, but for those looking for turnkey coffee-making, this is a little extra.

Black+Decker 12-Cup Programmable Coffeemaker, Black, CM1160B ($19.99; target.com)

The most affordable automatic drip machine we tested, the Black & Decker 12-cup, is also a solid choice. It brewed eight tasty cups in eight short minutes — overall a good user experience. Hardware-wise, it felt a bit less durable than its closest rival, the Mr. Coffee, but it’s programmable and super easy for near the cost of two lattes with an extra shot.

Bonavita Connoisseur 8-Cup One-Touch Coffee Maker ($145.99; amazon.com)

The Bonavita Connoisseur has its fans, but we had multiple issues with the machine. This pleasingly retro-looking apparatus brews a nice cup quickly and at a good temperature, but the user experience leaves much to be desired. Simply put, the design feels flawed. The lid of the carafe needs to be removed before brewing, so the coffee just brews directly into a wide-open carafe — this was so counterintuitive to us, even after three or four brew tries, that it diminished the experience of the brew process. The brewer also gets very hot during brewing — so hot that we wondered if it might actually be a safety issue. Lastly, after brewing, we screwed the carafe lid back on and tried to return the carafe to underneath the brewer — sure, maybe we were still sleepy, maybe not enough caffeine yet — but the carafe doesn’t fit under the brewer with the lid on; the entire top of the machine popped off. This affects storage of the machine, too; because the carafe lid and the brew basket don’t both fit into the hardware at the same time, there’s always one piece loose.

Note: The prices above reflect the retailer’s listed price at the time of publication.

Read more from CNN Underscored’s hands-on testing:

Source: http://rss.cnn.com/~r/rss/cnn_topstories/~3/lXsqzus97zc/index.html

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The Briefing: RVShare raises over $100M, Google disputes charges, and more

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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RVShare raises over $100M for RV rentals

RVShare, an online marketplace for RV rentals, reportedly raised over $100 million in a financing led by private equity firms KKR and Tritium Partners.

Akron, Ohio-based RVShare has seen sharp growth in demand amid the pandemic, as more would-be travelers seek socially distanced options for hitting the road. Founded in 2013, the company matches RV owners with prospective renters, filtering by location, price and vehicle types.

Previously, RVShare had raised $50 million in known funding, per Crunchbase data, from Tritium Partners. The company is one of several players in the RV rental space, and competes alongside Outdoorsy, a peer-to-peer RV marketplace that has raised $75 million in venture funding.

Funding news

  • BrightFarms closes on $100M: Indoor farming company BrightFarms said it secured more than $100 million in debt and new equity capital to support expansion plans. The Series E round of funding was led by Cox Enterprises, which now owns a majority stake in the company, and includes a follow-on investment from growth equity firm Catalyst Investors.
  • Anyscale inks $40MAnyscale, the Berkeley-based company behind the Ray open source project for building applications, announced $40 million in an oversubscribed Series B funding round. Existing investor NEA led the round and was joined by Andreessen Horowitz, Intel Capital and Foundation Capital. The new funding brings Anyscale’s total funding to more than $60 million.
  • Klar deposits $15M: Mexican fintech Klar closed on $15 million in Series A funding, led by Prosus Ventures, with participation from new investor International Finance Corporation and existing investors Quona Capital, Mouro Capital and Acrew. The round brings total funding raised to approximately $72 million since the company was founded in 2019. The funds are intended to grow Klar’s engineering capabilities in both its Berlin and Mexico hubs.
  • O(1) Labs rakes in $10.9M: O(1) Labs, the team behind the cryptocurrency Mina, announced $10.9 million in a strategic investment round. Co-leading the round are Bixin Ventures and Three Arrows Capital with participation from SNZ, HashKey Capital, Signum Capital, NGC Ventures, Fenbushi Capital and IOSG Ventures.
  • Blustream bags $3M: After-sale customer engagement company Blustream said it raised $3 million in seed funding for product usage data and digital transformation efforts for physical goods companies via the Blustream Product Experience Platform. York IE led the round of funding for the Worcester, Massachusetts-based company with additional support from existing investors.Pillar secures another $1.5M: Pillar, a startup that helps families protect and care for their loved ones, raised $1.5 million in a seed extension to close at $7 million, The round was led by Kleiner Perkins.

Other news

  • Google rejects DOJ antitrust arguments: In the wake of a widely anticipated U.S. Justice Department antitrust suit against Google, the search giant disputed the charges in a statement, maintaining that: “People use Google because they choose to, not because they’re forced to, or because they can’t find alternatives.”
  • Facebook said to test Nextdoor rival: Facebook is reportedly testing a service similar to popular neighborhood-focused social Nextdoor. Called Neighborhoods, the feature reportedly suggests local neighborhood groups to join on Facebook.

Illustration: Dom Guzman

Venture investors and leaders in the fintech space can visualize a future where such startups will move toward again rebundling services.

Root Inc., the parent company of Root Insurance, launched its initial public offering and is looking at a valuation of as much as $6.34 billion.

Clover Health posted rising revenues and a narrower loss in its most recent financial results, published in advance of a planned public market debut.

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Source: https://news.crunchbase.com/news/briefing-10-21-20/

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Syte Sees $30M Series C For Product Discovery

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Online shopping has become the norm for most people in 2020, even coaxing traditional retail brands to up their presence to stay competitive. However, now that shoppers can’t see and touch products like they used to, e-commerce discovery has become a crucial element for customer acquisition and retention.

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Enter Syte, an Israel-based company that touts creating the world’s first product discovery platform that utilizes the senses, such as visual, text and voice, and then leverages visual artificial intelligence and next-generation personalization to create individualized and memorable customer experiences, Syte co-founder and CEO Ofer Fryman told Crunchbase News.

To execute on this, the company raised $30 million in Series C funding and an additional $10 million in debt. Viola Ventures led the round and was joined by LG Technology Ventures, La Maison, MizMaa Ventures and Kreos Capital, as well as existing investors Magma, Naver Corporation, Commerce Ventures, Storm Ventures, Axess Ventures, Remagine Media Ventures and KDS Media Fund.

This brings the company’s total fundraising to $71 million since its inception in 2015. That includes a $21.5 million Series B, also led by Viola, in 2019, according to Crunchbase data.

Fryman intends for the new funding to be put to work on product enhancements and geographic expansion. Syte already has an established customer base in Europe, the Middle East and Africa, and will now focus expansion in the U.S. and Asia-Pacific.

Meanwhile, Syte has grown 22 percent quarter over quarter, as well as experienced a 38 percent expansion of its customer base since the beginning of 2020.

“Since we crossed $1 million annual recurring revenue, we have been tripling revenue while also becoming more efficient,” Fryman said. “We can accelerate growth as well as build an amazing technology and solution for a business that needs it right now. We plan to grow further, and even though our SaaS metrics are excellent right now, our goal is to improve them.”

Anshul Agarwal, managing director at LG Technology Ventures, said Syte was an attractive investment due in part to its unique technology.

“They have a deep-learning system and have created a new category, product discovery that will enable online shopping in a way we never had the ability to do before,” Agarwal said. “The product market fit was also unique. We believe in the strong execution by the team and the rapid growth in SaaS. We looked at many different companies, and the SaaS metrics that Syte showed are the strongest we’ve seen in a while.”

Illustration: Li-Anne Dias

Venture investors and leaders in the fintech space can visualize a future where such startups will move toward again rebundling services.

Root Inc., the parent company of Root Insurance, launched its initial public offering and is looking at a valuation of as much as $6.34 billion.

Clover Health posted rising revenues and a narrower loss in its most recent financial results, published in advance of a planned public market debut.

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Source: https://news.crunchbase.com/news/syte-sees-30m-series-c-for-product-discovery/

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GenTech Proudly Secures Deal with TruLife Distribution to Drive Growth in SINFIT Digital Sales

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Denver, CO, October 21, 2020 – OTC PR WIRE – GenTech Holdings, Inc. (OTC PINK: GTEH) (“GenTech” or the “Company”), an emerging leader in the high-end Premium Coffee (www.secretjavas.com), Hemp Wellness (www.hakunasupply.com) and Functional Foods (www.SINFITnutrition.com) marketplaces, along with its SINFIT Nutrition brand (“SINFIT”), is excited to announce that the Company has signed a new marketing, sales, and distribution agreement (the “Agreement”) with TruLife Distribution (“TruLife”) (TruLifeDist.com), a leader in marketing, distribution, compliance, e-commerce, and advisory services in the Functional Foods marketplace. The main focus of the new Agreement will be to accelerate the growth of e-commerce sales of SINFIT products, particularly over the Amazon.com platform.

TruLife provides direct access to sales on Amazon, Walmart, Rakuten, Wish, TopHatter, and other top e-commerce platforms, allowing clients to instantly list, ship, and sell products through any major platform, with an experienced team of experts and a proven track record of success in brand placement and digital sales strategies.

“We have already demonstrated a significant & expansive growth curve since taking control of the SINFIT brand in June,” commented Harold Vaca, VP Domestic Sales of SINFIT. “But the vast majority of that growth has been driven by large purchase orders from major distribution partners, both domestic and international. We are also committed to aggressively pursuing end-market consumer direct purchases through our e-commerce footprint, which will provide additional growth and diversify our cash flow ecosystem, making our overall strategy less dependent upon any one source of demand, while driving further growth in total sales.”

Management notes that e-commerce sales represent a sizeable portion of overall retail sales growth worldwide, with more than $3.5 trillion in online sales accounting for over 14% of total pre-pandemic global retail sales. Since the onset of the global health crisis, that ratio has shifted decisively further in favor of e-commerce sales, which is not likely to entirely revert back upon the advent of a viable and widely accessible vaccine.

Vaca added, “We have seen an epic process of market penetration for e-commerce platforms this year as major online retailers have begun to reach a much wider base of consumers – people who haven’t ever shopped much online, but have been forced to during recent months out of personal health concerns. Many of them will almost certainly continue to make use of e-commerce now that they have tried it out, at least to some extent, making e-commerce an essential sales channel for SINFIT products. TruLife has the network, team, experience, and resources to dramatically augment our e-commerce performance.”

SINFIT branded products registered over $2.2 million in global sales in 2019, and are now approved for sale and available for purchase on the Walmart.com and Amazon.com e-commerce platforms as well as in over 2,500 GNC locations in North America and over 10,000 global physical and e-commerce stores across more than 10 countries around the world.

SINFIT products as well-positioned relative to peers and to the long-term macro tailwind defining the functional foods market, which saw sales top $267 billion in February of this year on a global basis, with sales in the US reaching $63 billion, according to Euromonitor 2020. This trend is part of a larger supportive momentum in the general category, with global sales of organic food and drink topping $105 billion in 2018 (Ecovia 2019). U.S. organic food sales also reached $47.9 billion, up 5.9% in 2018 (OTA 2019). In 2019, 77% of U.S. adults used dietary supplements, an all-time high (CRN 2019). U.S. supplement sales are estimated to have reached $49.3 billion in 2019, up 6.2% (NBJ 2019).

About GenTech Holdings, Inc.:

GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas, owns a Functional Food company, SINFIT Nutrition and recently closed its acquisition on Products-Groups’ “Hakuna Supply”.

Forward-Looking Statements
This press release may contain forward-looking statements, including information about management’s view of GenTech, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech’s future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.

Corporate Contact:
invest@gentech.group

www.gentechholdings.com

Source: https://otcprwire.com/gentech-proudly-secures-deal-with-trulife-distribution-to-drive-growth-in-sinfit-digital-sales/

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