Wednesday, May 10, 2017

Bay Area Tech Wire - May 10

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BAY AREA TECH WIRE -- May 10, 2017
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Sponsored By: Baird Global Technology Investment Banking
http://techservices.rwbaird.com/investment-banking/


o
San Francisco-Based Qordoba Raises $5 Million in First Round
o San Mateo-Based Zuora to Acquire San Jose's Leeyo Software
o San Francisco-Based Simple Habit Lands $2.5 Million in Funding
o
San Francisco-Based Digital Realty Names Laurence Chapman as Chairman
o SVB, Oxford Finance Provide $20M Credit Facility to Castle Biosciences
> Baird Commentary: How the IoT Revolution Is Driving Consolidation
o
Briefly Noted:
Polycom, Velostrata
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> Job/Event/Marketplace Classified Listings (Full Listings Below Stories)

--Happy People and Bottom-Line Results: How Bankable Leaders Deliver Both
--Baird Global Technology Investment Banking

Full Job, Event, Marketplace and Services Descriptions Below in Classified Ad Section

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o San Francisco-Based Qordoba Raises $5 Million in First Round

San Francisco -- Qordoba, a San Francisco-based developer of machine-learning technology for localization, said it has raised $5 million in its first round of funding, from Upfront Ventures and Rincon Venture Partners. The company said it will use the proceeds to bolster its machine learning technology and ecosystem of developer tools. Qordoba's technology is designed to let users and machines interact with and extract intention from natural language and data. Clients include e-commerce companies like Sephora and Cartier, as well as software companies like Nutanix and Netskope. "We made it dead simple for engineers to abstract natural human language from code," said co-founder and CEO May Habib. "It means that business teams can use machine learning to write much more intelligent copy." Kara Nortman at Upfront Ventures and Jim Andelman of Rincon will join the company's board of directors.
https://www.qordoba.com/ 
http://www.businesswire.com/news/home/20170509005576/en/Qordoba-Raises-5M-Series-Machine-Learning-Localization 
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o San Mateo-Based Zuora to Acquire San Jose's Leeyo Software

San Mateo, Calif. -- Zuora, a San Mateo-based developer of subscription commerce, billing and finance software, said on Wednesday it will acquire San Jose-based partner Leeyo Software, a developer of revenue recognition automation tools. Financial terms of the deal were not disclosed. Zuora will add Leeyo's RevPro cloud-based revenue recognition software to its order-to-cash product portfolio. The company said the acquisition will make it a "one-stop shop" for managing customer records, product catalogues, subscriptions, billing, orders, cash and revenue recognition. "We've been saying that accounting standards have to change to accommodate the subscription economy, and now they have," said founder and CEO Tien Tzuo in a statement. "We've partnered with Leeyo for over three years, and today we join forces to help our customers alleviate the burden of dealing with these new standards."
https://www.zuora.com/ 
https://leeyo.com/ 
https://www.zuora.com/press-release/zuora-acquires-leeyo/ 
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o San Francisco-Based Simple Habit Lands $2.5 Million in Funding

San Francisco -- Simple Habit, the San Francisco-based developer of a mobile meditation platform that recently graduated from Y Combinator, said it has raised $2.5 million in a new round of funding. Participants included New Enterprise Associates (NEA), Fabrice Grinda's FJ Labs, Foundation Capital and founders of Dropbox and Gusto. Simple Habit specializes in five minute meditations tailored to specific situations and moods, like commuting to work, public speaking, or going on a date. "This new round of financing will allow us to expand our team in San Francisco," said founder and CEO Yunha Kim, who began meditating to manage stress from her last startup, Locket, which was acquired by Wish in 2015.
http://www.simplehabit.com/ 
http://www.prnewswire.com/news-releases/simple-habit-5-minute-meditation-platform-raises-25-million-to-help-you-reduce-stress-sleep-and-focus-better-300454337.html 
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o San Francisco-Based Digital Realty Names Laurence Chapman as Chairman

San Francisco -- Digital Realty, a San Francisco-based owner and operator of data centers, has named Laurence Chapman as its new chairman. He succeeds Dennis Singleton, who will continue to serve on the company's board and recently was named chair of its compensation committee. Singleton had served as chairman since 2012. "There is no better successor than Laurence to take over leadership of the board," said Singleton. "Laurence has served in a key leadership role throughout the company's growth and evolution since its initial public offering, and he is keenly aware of the technology and industry trends driving the data center landscape of the future." Chapman, the former chief financial officer (CFO) of Goodrich Aerospace and Goodrich Aerostructures, has been on Digital Realty's board since 2004, most recently serving as its vice chairman.
https://www.digitalrealty.com/
http://investor.digitalrealty.com/investor-relations/news-and-events/news/news-details/2017/Digital-Realty-Appoints-Laurence-A-Chapman-As-Chairman-Of-The-Board-Of-Directors/default.aspx
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o SVB, Oxford Finance Provide $20M Credit Facility to Castle Biosciences

Santa Clara, Calif. -- Silicon Valley Bank (SVB), the Santa Clara-based provider of financial services to technology and life sciences companies, said it has teamed with Oxford Finance to provide a $20 million credit facility to Texas-based Castle Biosciences, a developer of molecular diagnostics focused on improving cancer treatment decisions. The facility is comprised of a $15 million senior secured term loan and a $5 million line of credit. The company said it will use the proceeds to bolster marketing support and product development activities. Castle offers tests for patients with underserved cancers including cutaneous melanoma, an aggressive form of skin cancer, and uveal melanoma, a rare aggressive eye cancer.
http://castlebiosciences.com/ 
https://www.svb.com 
http://www.oxfordfinance.com/investor-relations-news/news/oxford-finance-and-silicon-valley-bank-close-20-million-credit-facility-with-castle-biosciences/  
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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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o Briefly Noted:

(San Jose, Calif.) San Jose-based Polycom, a developer of enterprise grade business communication tools, has named Tarun Loomba as its executive vice president of solutions management. Loomba most recently served as the vice president and general manager of computing storage solutions at SanDisk, and earlier was the president at Armanta and chief marketing officer (CMO) of ParAccel.
http://www.polycom.com/company/news/press-releases/2017/20170509.html 

(San Mateo, Calif.) San Mateo-based Velostrata, developer of a software platform designed to move applications to the public cloud, has named Jan Poczobutt as its vice president of sales for North America. Poczobutt most recently served as the vice president of sales at Barracuda Networks, and previously ran worldwide channel sales at Core Security Technologies.
http://velostrata.com/press-release/velostrata-names-jan-poczobutt-vice-president-of-sales-north-america/ 

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> Happy People and Bottom-Line Results: How Bankable Leaders Deliver Both

Why do I have a hard time getting my employees to listen? Why do I struggle to inspire and motivate them? How can I motivate my employees while driving strong financial results? Many of today's leaders ask themselves these same questions. Here, we share three tips to become more "bankable."
http://www.fairfaxcountyeda.org/bay-area-tech-wire

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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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