Operations observability platform Avenue launches with $4M

Avenue

Avenue launched Friday to give operations their own tools to monitor teams, and is building a “command center” for this area of business that is often forgotten, co-founder and CEO Justin Bleuel told TechCrunch.
In addition to the launch the company is announcing $4 million in seed funding, led by Accel, with participation from Flexport and a group of individual investors from companies like Coinbase, Uber, Stripe and Thumbtack.
Bleuel and his co-founder, Jeff Barg, grew up building iOS apps together and then went their separate ways, Bleuel to Uber and Barg to Amazon. While at Uber, Bleuel was working on observability — passive or proactive monitoring — building a lot of the tools in-house to monitor the marketplace for data like rider experience.
Both saw an opening to build these tools themselves for operations teams, and Avenue was born. The technology enables business teams to set up alerts to observe when there is a problem with data, act on it correctly and improve how the overall team functions, think “Datadog or PagerDuty for operations teams,” Bleuel said.
“Data is now all centralized in data warehouses, so you can build on top of them in a way you could not before, like Fivetran, and activate off of it,” he added. “You used to have to build one-to-one alerts for each tool, but now we can actively direct them from the warehouse.”
Avenue dashboard. Image Credits: Avenue
The company, founded in 2020, came out of the Y Combinator winter 2021 cohort, and one of its early customers is food pickup service Snackpass, which is using Avenue to monitor uptime and receive notifications when restaurant partners, for example, have an ordering tablet battery die or lose Wi-Fi. Snackpass is able to contact the location and help them figure out why they went offline. As a result, the company was able to cut the percentage of offline stores in half, Bleuel said.
Avenue’s customer sweet spot is marketplace companies or warehouses for monitoring stock. However, the co-founders are also seeing their technology being used by other companies, like furniture delivery companies, to monitor for reliability or know their inventory levels. Customers are also packaging up reports and sharing them with other internal teams on how to improve operations.
The company intends to use the funding to build on its small team of three, especially in engineering to be able to go to market with new products, Barg said.
Avenue is working with more than 50 companies and since April has sent out over 200,000 alerts. The company’s model bills customers per alert per month, and the team is looking at a freemium model as well as enterprise levels.
Meanwhile, Amit Kumar, partner at Accel, said via email the firm is “very thesis-driven,” one of them being the modern data stack. Accel made early investments into companies like Airbyte, Monte Carlo and Privacer, and saw opportunity for new downstream applications based on the innovation, of which Avenue stood out.
The combination of Bleuel and Barg was “particularly compelling because of their fluency with the problem space” due to their backgrounds at Uber and Amazon and experiencing firsthand how “poorly served” operations teams are and how that can affect the overall business.
He believes the current approach of ops teams in the market today relies heavily on dashboarding, periodic sweeps and color-coded Excel sheets — a process that is “often inaccurate and disorganized.” At the same time, product engineers were flush with well-established tools around observability and incident response.
“Given the rise of ‘atoms’ startups powered by a cohort of ex-Uber and ex-Amazon operators, Justin and Jeff were uniquely positioned to find early design partners and customers among their peer networks,” Kumar added. “As ops teams become both increasingly commonplace and essential to business outcomes, I expect their processes to mature and benefit from similar tooling. This is the thesis behind Avenue, and early traction indicates that next-gen leading ops-heavy companies agree.”

Read More

Business Canvas, a Korea-based document management SaaS company, closes $2.5M seed round

Business Canvas invests in Typed

Business Canvas, the South Korean document management SaaS company behind Typed, announced today it has raised a $2.5 million seed round led by Mirae Asset Venture Investment, with participation from Kakao Ventures and Nextrans Inc.

Read More

Flippa raises $11M to match online asset and business buyers, sellers

Flippa

Flippa, an online marketplace to buy and sell online businesses and digital assets, announced its first venture-backed round, an $11 million Series A, as it sees over 600,000 monthly searches from investors looking to connect with business owners.
OneVentures led the round and was joined by existing investors Andrew Walsh (former Hitwise CEO), Flippa co-founders Mark Harbottle and Matt Mickiewicz, 99designs, as well as new investors Catch.com.au founders Gabby and Hezi Leibovich; RetailMeNot.com founders Guy King and Bevan Clarke; and Reactive Media founders Tim O’Neill and Tim Fouhy.

Read More

Bidgely raises $26 million in funding led by Moore Strategic Ventures

Bidgely

Bidgely, a SaaS (Software-as-a-service) startup based in California and Bengaluru, announced the completion of a $26 million round of strategic funding to strengthen its UtilityAI platform, which is used all over the world. Moore Strategic Ventures backed the round, which was accompanied by Accurant International, another investment venture led by Bahman Hoveida, the co-founder and former CEO of Open Systems International.

Read More

Salesforce announces new Mulesoft RPA tool based on Servicetrace acquisition

Salesforce RPA tool

When Salesforce announced it was buying German RPA vendor Servicetrace last month, it seemed that it might match up well with Mulesoft, the company the CRM giant bought in 2018 for $6.5 billion. Mulesoft, among other things, helps customers build APIs to legacy systems, while Servicetrace provides a way to add automation to legacy systems.

Read More

New Zealand startup HeartLab raises $2.45M to bring heart scanning software to the US

HeartLab

New Zealand-based medtech startup HeartLab has raised $2.45 million in seed funding that it says will help the company expand its AI-powered heart scanning and reporting platform to cardiologists in the United States by early next year.

Read More

Ascend raises $5.5M to provide a BNPL option for commercial insurance

Ascend

Ascend on Wednesday announced a $5.5 million seed round to further its insurance payments platform that combines financing, collections and payables.

Read More

London-based medtech Doccla grabs £2.4M funding for at-home virtual wards to support NHS

Doccla

The COVID-19 pandemic caused a heavy influx of patients in hospitals worldwide, and most countries struggled to keep up. News of equipment and bed shortages were expected, but the London based medtech startup Doccla was using its tech to help people of the UK get hospital beds. Basically, the startup sets up virtual wards at home for patients who require monitoring but don’t need to be kept in the hospital. It has now raised £2.4 million in its seed round. 

Read More

DataRobot CEO Dan Wright coming to TC Sessions: SaaS to discuss role of data in machine learning

TC sessions event

Boston-based DataRobot, a late-stage startup that has built a platform to help companies navigate the machine learning model lifecycle, has been raising money by the bushel over the last several years, including $206 million in September 2019 and another $300 million in July. DataRobot CEO Dan Wright will be joining us on a panel to discuss the role of data in business at TC Sessions: SaaS on October 27th.

Read More

Affinity, a relationship intelligence company, raises $80M to help close deals

Affinity

Affinity wants to take what Ray Zhou, co-founder and CEO, refers to as “data exhaust,” all of those daily interactions and communications, and apply machine learning analysis and provide insights on who in the organization has the best chance of getting that initial meeting and closing the deal.

Read More

Fin names former Twilio exec Evan Cummack as CEO, raises $20M

Fin

Work insights platform Fin raised $20 million in Series A funding and brought in Evan Cummack, a former Twilio executive, as its new chief executive officer. The San Francisco-based company captures employee workflow data from across applications and turns it into productivity insights to improve the way enterprise teams work and remain engaged.

Read More

Database startup SingleStore raises $80M

SingleStore

Database startup SingleStore today announced that it raised $80 million in a series F funding tranche led by Insight Partners, bringing its total raised to over $319 million at a post-money valuation “just shy” of $1 billion. Khosla Ventures, Dell Capital, Rev IV, Glynn Capital, and Google Ventures also participated in the round, which CEO Raj Verma says will be put toward product development and improving awareness of SingleStore’s managed database service offering.

Read More

AI as a service to solve your business problems? Guess again

AI as a Service

Industries of all types are embracing off-the-shelf AI solutions. According to industry experts, global AI software revenue — most of it online artificial intelligence as a service software (AIaaS) — is set to grow by an astounding annual rate of 34.9%, with the market reaching over $100 billion by 2025. It sounds like a great idea, but there is a caveat — “one-size-fits-all” syndrome.

Read More

Virtual meeting platform Vowel raises $13.5M, aims to cure meeting fatigue

Vowel

Meetings are an inevitable part of the work day, but as workplaces became more distributed over the past 18 months, Vowel CEO Andy Berman says we are steadily moving toward “death by meeting.” His virtual meeting platform is the latest to receive venture capital funding — $13.5 million — with the goal of making meetings more useful before, during and after.

Read More

YouTravel.Me packs up $1M to match travelers with curated small group adventures

You Travel

Today YouTravel.Me announces raising $1 million to continue developing its online platform designed for matching like-minded travelers to small-group adventures organized by travel experts. Starta VC led the round and was joined by Liqvest.com, Mission Gate and a group of individual investors like Bas Godska, general partner at Acrobator Ventures.

Read More

Skit raises $23M Series B round led by WestBridge Capital to accelerate its growth

Skit AI

“Traditional voice-based call center service is difficult and costly. This is where artificial intelligence and voice technology have presented an opportunity for enterprises to overcome the challenges of scale and engagement at their customer contact centers,” co-founder and CEO Skit Sourabh Gupta told TechCrunch.

Read More

PayEm comes out of stealth with $27M and its answer to the expense report

Payem

Itamar Jobani was a software developer working for a medical company and “hated that time of the month” when he had to use the company’s chosen reimbursement tool. “It was full of friction and as part of the company’s wellness team, I felt an urge to take care of the employee experience and find a better tool,” Jobani told TechCrunch. “I looked for something, but didn’t find it, so I tried to build it myself.” What resulted was PayEm.

Read More

Sales experience platform Walnut raises $15M to improve product demonstrations

Walnut

Walnut raised $15 million in Series A funding, led by Eight Roads Ventures, to continue developing its sales experience platform. Founders Yoav Vilner and Danni Friedland started the company in July 2020. Vilner told TechCrunch that while at a previous company, he was building a category called technology marketing in Israel. He realized that company sales people often ran into problems when it was time to demonstrate their product.

Read More
1 2 3