Almost two years ago, Interviewed – an automated job assessment tool was added to our portfolio and Indeed, a leading jobs site also integrated Interviewed’s job assessment tests with their platform to help employers screen candidates in less time. Indeed was a client of Interviewed but now this relationship is going to change because Indeed has acquired Interviewed. After this acquisition, we hope to see a deeper integration of Interviewed services with Indeed’s platform.
“Indeed’s mission is to help people get jobs, and today we make it easy for millions of job seekers to find and apply to jobs all over the world,” said Chris Hyams, president of Indeed. “Interviewed’s technology is a natural extension, allowing job seekers to demonstrate their skills, and enabling employers to quickly and easily identify the best candidates for their roles. We are excited to have the Interviewed team join us to help make hiring more efficient for the millions of employers hiring on Indeed.”
“We are thrilled that Indeed, the leader in online hiring, will be integrating our platform with their extensive service offerings that work to bring the right candidate to the right opportunity,” said the Darren Nix, CEO of Interviewed. “Indeed’s relentless commitment to helping people find jobs makes it a great home for Interviewed’s tools that strive to cut hiring time in half and create a better experience for both job seekers and hiring managers.”
Please read full story at Business Wire.
ToutApp, an intelligent email solution for sales teams to increase sales through email campaigns, tracking and analytics was added to our list of portfolio in 2011 and since then it raised a total funding of $21.48M including Series A and B rounds. Tawheed Kader, ToutApp’s founder was approached by Steve Lucas, CEO of Marketo, a marketing automation solution and finally Marketo acquired ToutApp to combine their forces and create a next generation customer engagement platform. This acquisition is quite natural and makes more sense for both companies because 61% of ToutApp’s customers already use Marketo for their marketing automation needs.
The price for the acquisition could not be learned, but sources told Fortune it would not produce a significant return for investors. The company had to “right size” some of its operations last year. The company’s annual revenue is between $5 million and $10 million in annual revenue and growing. ToutApp management will stay on after the acquisition.
Marketo CEO Steve Lucas, who joined the company in October, tells Fortune he approached ToutApp about a deal four months ago. The company plans to unveil the acquisition on Monday as part of a new “engagement platform” it will launch at its Marketing Nation Summit.
Lucas says this deal will “bridge the gap” between Marketo’s existing marketing technology offerings and ToutApp’s sales technology.
Please read full story at Fortune.
It’s big news for us and everyone who trusted and backed Cruise, The Driverless Revolution. Zillionize invested in Cruise as a seed round investor. After one year, Cruise raised $12.5M in Series A round and now GM is buying Cruise for “north of $1 billion”. That’s awesome!
General Motors this morning announced that it will acquire Cruise Automation, a San Francisco-based developer of autonomous vehicle technology. No financial terms were disclosed, but Fortune has learned from a source close to the situation that the deal is valued at “north of $1 billion,” in a combination of cash and stock.
Cruise Automation had raised over $18 million in venture capital funding, most recently at a post-money valuation of around $90 million. Investors include Spark Capital, Maven Ventures, Founder Collective, and Y Combinator.
The three-year old company is best known for having created an aftermarket “kit” that allows buyers to convert certain types of cars―namely Audi A4 and S4 models―into autonomous vehicles for highway driving. But GM appears to be more interested in integrating Cruise’s technology into its original manufacturing process.
Please read full story at FORTUNE.
In March 2014, Zillionize invested in Frontleaf and now we are glad to announce that Zuora, a subscription billing solutions provider has bought Frontleaf. The deal’s details would still remain undisclosed.
Zuora, a business set up to help other businesses manage their online subscription models, said it plans to fully incorporate Frontleaf’s employees and resources into its own engineering and sales teams.
That includes Frontleaf founder CEO Tom Krackeler, who will join Zuora as its new vice president of subscription user experience.
“Frontleaf’s technology will enable Zuora to provide subscription-based businesses with the comprehensive analytics they need to understand their user base in a far deeper and more meaningful way so they can design truly compelling subscriber experiences,” wrote Krackeler, in prepared remarks.”
You can read full story at ZDNet.
We are pleased to announce that one of our portfolio startups, Meldium has been acquired by LogMeIn for $15M.
Publicly-traded LogMeIn says it is paying $15 million in the deal for BBA, the name under which Meldium is incorporated. The price includes both a cash payment and a performance and retention-based earn out.
As the name of the startup implies, Meldium effectively “melds” together the sign-on process for a host of different apps, 1,500 in all at present, including popular cloud-based services like Dropbox, Google Apps, Hubspot, WordPress, Zendesk, Salesforce, Asana, Trello, Evernote, JIRA, and Rackspace. One key to its usefulness is in how useful it is for professionals who are not of the technical persuasion.
Please read full story at TechCrunch.
We are glad to announce that Rackspace has acquired Mailgun, an email service for developers to send, receive and track emails within apps and websites.
Rackspace will make Mailgun available to its Rackspace Hosting customers for integrating cloud-based email services into applications and websites. CEO Ev Kontsevoy said the company’s six employees will join Rackspace and move into the hosting providers San Francisco offices.
“Awesome products should be and will be integrated with open cloud platforms,” said Pat Matthews, senior vice president of corporate development at Rackspace. “We want to make it easy for hundreds of thousands of customers to use Mailgun.”
You may read the full story at TechCrunch.
Being a seed round investor, Mailgun was our first investment and our first exit too. Well done, Mailgun team!