Friday, April 21, 2017

Bay Area Tech Wire - April 21

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BAY AREA TECH WIRE -- April 21, 2017
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San Francisco-Based Gladly Raises $36 Million in Third Round of Funding
o Bosch to Move Silicon Valley Tech Center to Larger Space in Sunnyvale
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San Francisco-Based ClearCare Acquires HomeTrak
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San Francisco-Based AdRoll Names Toby Gabriner as New President
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Global Business Executives Bullish Despite Concerns About Politics
o Briefly Noted:
Marketo
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o San Francisco-Based Gladly Raises $36 Million in Third Round of Funding

San Francisco -- Gladly, the San Francisco-based developer of a customer support platform, said it has raised $36 million in its third round of funding, led by GGV Capital. Previous backers Greylock Partners and New Enterprise Associates (NEA) also participated in the round, which the company will use to expand internationally and further bolster its technology. Gladly's platform is designed to give agents a single view of customer communications across all channels, no matter what communication channel. "Legacy products… are all centered around tickets and cases. And they tend to silo the conversations inside of individual channels," wrote co-founder and CEO Joseph Ansanelli in a blog post. "In other words, a single phone call can kick off the creation of a new case number, and if a customer decides to then email, text, or tweet, a new case or ticket gets created for each and every subsequent communication -- that just doesn't make for a great customer experience."
https://www.gladly.com/ 
https://www.gladly.com/latest/2017-customer-service-survey-series-c-funding/  
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o Bosch to Move Silicon Valley Tech Center to Larger Space in Sunnyvale

Sunnyvale, Calif. -- Bosch, the German Internet-of-Things technology giant, said on Friday it will relocate its Palo Alto-based Research and Technology Center to a new 104,000-square-foot facility in Sunnyvale. The move, to take place by the end of this year, will consolidate approximately 300 associates and interns currently working in three separate spaces. The new location, at 384 Santa Trinita Ave., will house team members from Bosch Corporate Research, Robert Bosch Venture Capital and other divisions. The new facility represents a $40 million commitment by the company over the span of a 10-year lease. "Not only is the new location larger and better suited for collaboration, it will also better position our associates to interact with the large, vibrant ecosystem of universities, research institutes, technology companies and startups that are key to our success in Silicon Valley," said Mike Mansuetti, the president of Robert Bosch LLC. Bosch first established its presence in Silicon Valley nearly 20 years ago.
http://www.boschusa.com 
http://www.businesswire.com/news/home/20170420006561/en/Bosch-Invests-Silicon-Valley-Operation-Announces-Expansion 
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o San Francisco-Based ClearCare Acquires HomeTrak

San Francisco -- ClearCare, the San Francisco-based developer of a technology platform for home care agencies, said it has acquired HomeTrak, a San Diego-based developer of private duty home care software. Financial terms of the deal were not disclosed. The combined company will serve more than 4,000 home care agencies, with offices in San Francisco, San Diego and Canada. ClearCare said it will continue to support HomeTrak's Companion products. Geoff Nudd, the founder and CEO of ClearCare, said the acquisition "extends ClearCare's skilled nursing capabilities as well as customer support resources for all of our combined home care agency customers." ClearCare's web-based platform helps manage all home care agency business functions, including scheduling, billing, payroll, senior-to-caregiver matching, CRM, HR, reporting and point-of-care management.
http://www.clearcareonline.com 
http://hometrak.com/ 
https://www.clearcareonline.com/hometrak-release 
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o San Francisco-Based AdRoll Names Toby Gabriner as New President

San Francisco -- AdRoll, the San Francisco-based developer of a performance marketing platform, has named Toby Gabriner as its new president, transitioning from his previous role as a strategic advisor to the company. He succeeds Adam Berke, a founding executive who will remain with the company as an advisor. Gabriner is the former president and CEO of Adap.tv, which was acquired by AOL in 2013, and has been working with AdRoll since October, focused on product and platform development. "After working with him for the past six months in his role as an advisor, I'm confident that we have a shared vision for AdRoll and a like-minded view of the incredible growth opportunities," said co-founder and CEO Aaron Bell.
http://www.adroll.com 
http://www.prnewswire.com/news-releases/adroll-appoints-pioneering-martech-executive-toby-gabriner-as-new-president-300442553.html 
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o Global Business Executives Bullish Despite Concerns About Politics

Washington, DC -- Despite concerns about politics, three-quarters of companies plan to increase their foreign direct investment (FDI) in the next three years, according to a new report from strategy and management consulting firm A.T. Kearney. The U.S. figures to get the bulk of those investments, topping the firm's FDI Confidence Index for the fifth straight year. In fact, more than 40% of investors in the Americas say they're more optimistic about the regional economic outlook than they were a year ago. "The continued appeal of investing in the United States shows that global investors make decisions primarily based on economic fundamentals because FDI is a long-term commitment," said Erik Peterson, managing director of the firm's global business policy council and co-author of the study. "And in times of global uncertainty, such as we see today, the perceived safe haven status of the United States remains appealing." Germany, buoyed by its "business-friendly regulatory environment and improving economic prospects," moved up two spots to No. 2 in the index, while China fell one spot to No. 3. The complete report is available at the link below.
https://www.atkearney.com/gbpc/foreign-direct-investment-confidence-index  
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o Briefly Noted:

(San Mateo, Calif.) San Mateo-based Marketo, a developer of engagement marketing software, has named Mark Miller chief financial officer (CFO). He succeeds Brian Kinion, who is leaving the company to pursue other opportunities. Miller most recently served as the CFO of ACTIVE Network, and previously was the executive vice president and CFO of LHP Hospital Group and Sabre Holdings. Marketo also has named Reggie Aggarwal, the founder and CEO of Cvent, to its board of directors.
http://www.marketo.com
http://www.prnewswire.com/news-releases/marketo-announces-cfo-board-of-directors-appointments-300441961.html 

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> Baird Commentary: How the IoT Revolution Is Driving Consolidation

In a recent commentary on the ever-evolving Internet of Things (IoT) revolution, Baird's senior technology bankers discuss how the proliferation of IoT-enabled software and services and ongoing industry consolidation. Today's sophisticated IoT software and systems not only connect disparate devices, they collect, verify and cleanse data -- diminishing the long-time challenge of cutting through "noise" inherent to data aggregation and facilitating in-depth analysis and application of the collected information into actionable intelligence. This IoT revolution is quickly catching up to its hype by transforming businesses across many sectors. The value of IoT technology has become imperative, and growing demand is fueling tremendous acquisition interest from a diverse range of buyers, pushing competition higher and accelerating consolidation in the space. Read Baird's insights into this rapidly evolving space and the related M&A activity: http://www.rwbaird.com/news/Unlocking-Intelligence 

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