Incumbent and Insurgent: Adding Value Together

TechStars

Today, global energy corporation Equinor and startup Crux OCM are working together to test Crux OCM’s software, which functions as an “autopilot” for oil and gas control room operators. It’s early days yet, but if the Crux OCM solution works and scales, it will lead to efficiencies, cost savings, and new revenue opportunities for Equinor.

[Varo Money in The Financial Brand] U.S. Challenger Banks Turn Up the Heat on Incumbents

OurCrowd

Challenger Banks Turn Up the Heat on Incumbents appeared first on OurCrowd Blog.

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The Future of Corporate Venture Capital

500

Conventional wisdom dictated that incumbents should focus their innovation efforts on R&D and growing their cash cows while investing in a few startups. The following is an excerpt from 500’s CVC report. How has corporate venture capital changed? In the decade since the Great Recession, we have seen digital upstarts – taking advantage of disruptive technologies from AI to IoT – reshape the economy and the corporate pecking order.

The Duolingo English Test

A VC: Musings of a VC in NYC

The “incumbent provider” of English proficiency tests, Test Of English As A Foreign Language (aka TOEFL), has had all of the companies and universities who accept it locked up for many years. But in some markets, incumbency matters more than better. I wrote about our portfolio company Duolingo’s English Proficiency Test back in August of last year.

Fintechs could see $100 billion of liquidity in 2021

TechCrunch

For the fourth straight year, the publicly traded fintechs massively outperformed the incumbent financial services providers as well as every mainstream stock index. Jake Jolis. Contributor. Share on Twitter.

How To End Your Pitch with Your Vision

Dream It

As all investors know from the case of Uber, you cannot size a market based on an incumbent. When investors ask about exit strategy, it’s often a way to gauge whether a founder understands the dynamic of the market, the well-capitalized incumbents who might be a threat, and a founder’s ability to reason on the spot. Getting investors excited about your product is a critical part of raising capital.

Mambu raises $135M at a $2B+ valuation for a SaaS platform that powers banking services

TechCrunch

It will be interesting to see how newer entrants in the SaaS banking-platform space disrupt what are, effectively, becoming incumbents in their own right: Mambu is now approaching 10 years old (it was founded in 2011).

Former Salesforce chief scientist announces new search engine to take on Google

TechCrunch

Richard Socher, former chief scientist at Salesforce, who helped build the Einstein artificial intelligence platform, is taking on a new challenge — and it’s a doozy. Socher wants to fix consumer search and today he announced you.com , a new search engine to take on the mighty Google.

Digital road freight forwarder Sennder raises $160M Series, plans European expansion

TechCrunch

Sennder competes with large incumbents like Wincanton and CH Robinson, as well as other startups such as OnTrac and Instafreight. Sennder , a large digital road freight forwarder based out of Germany, has raised $160 million in Series D financing.

How to Get a CISO to Buy Your Product

Dream It

Find out how incumbent products you are likely to replace are performing. To keep an organization safe, a CISO depends on as many as 50 to 100 different products. This presents a huge opportunity for startups. However, this means that a CISO sees a LOT of pitches in their role.

End-to-end operators are the next generation of consumer business

TechCrunch

The key purpose of being end-to-end is to deliver an even better value proposition to consumers relative to incumbent alternatives. Incumbents in these industries are very large and entrenched, but they are legacy players, making them slow to adopt new technology. Roger Lee.

Sweden-based digital bank Northmill raises $30M

TechCrunch

As it stands, 2006-founded Northmill is available in Sweden, Norway and Finland, where it competes with incumbent banks with physical branches and the likes of Lunar, Revolut and Klarna (which operates as a bank in its home country of Sweden, and Germany).

How to Build a Team That Can Navigate Your Business Through Difficult Times

Entrepreneurs' Organization

Meanwhile, it’s incumbent on you as the CEO to create an environment that encourages action-oriented behavior. Contributed by Chen Amit , co-founder and CEO of Tipalti. Entrepreneurship is one of the most challenging vocations on earth. Even during the best of times, it requires long hours, endless devotion, and a willingness to take big risks and make gut-wrenching decisions. Today, as we navigate an unprecedented global health crisis , an entrepreneur’s role becomes even more demanding.

Undock raises $1.6M to help solve your group scheduling nightmares

TechCrunch

But we seem to be in a calendrical renaissance, with incumbents like Google and Outlook getting smarter and smarter and newcomers like Calendly growing significantly. Over the past decade, many startups have tried (and many have failed) to rethink the way we schedule our meetings and calls.

The Market Diversifies: International Innovation Captures Larger Share Of Startup Funding Applications

Gust

Quarterly data from Gust, the online platform for the global angel investment industry, reveals that while incumbent leaders show no sign of slowing down, new industries and areas Read more >. In Q3 the global startup ecosystem continued to thrive, with 25% growth over the same quarter last year and up 18% from last quarter, as the innovation economy expands around the world.

Digital freight forwarder Forto raises another $50M in round led by Inven Capital

TechCrunch

“Forto has proven to be essential in a sector which is under increasing pressure amidst a global pandemic and is dominated by fragmented, non-digital incumbents,” added Michiel Kotting, partner at Northzone.

Virtual social network IMVU raises $35M from China’s NetEase and others

TechCrunch

The line between social networking and gaming is increasingly blurring , and internet incumbents are taking notice.

Getsafe, the European digital-first insurance startup, scores $30M Series B

TechCrunch

“We sell more policies to first-time insurance buyers in Germany than incumbents like Allianz, Axa, Zurich, etc,” he says. Getsafe , the digital-first insurance startup that initially launched with an app for home contents insurance, has closed $30 million in Series B funding.

Amsterdam’s Crisp, an online-only supermarket, raises €30M Series B led by Target Global

TechCrunch

The European grocery market is currently worth €2 trillion, but access to customers for high-quality, smaller producers is still tricky and blocked by incumbents.

Robinhood raises $1B after trading halts to keep its platform running

TechCrunch

That’s a good showing for fintech, both startup and incumbent alike. After a turbulent week for the stock market and halts to the trading of certain speculative securities including GameStop (GME) and AMC, consumer investing app Robinhood has raised new capital.

Visa will not acquire Plaid after running into regulatory wall

TechCrunch

While the Visa-Plaid deal was merely a single transaction, its scuttling doesn’t bode well for other fintech startups and unicorns that might have eyed an exit to a wealthy incumbent.

What To Do When Your Competitor Gets Funded?

Both Sides of the Table

And our competitors are not really each other but the incumbent businesses that have 99.9% ” In summary: The competitors are the incumbents. This morning Clutter.io announced they raised $9 million from Sequoia , arguably the best venture capital firm that exists. Congratulations. Sincerely. Conventional wisdom says I shouldn’t tell you this because I invested in their main competitor, MakeSpace.

The First Rule Of Disruption

OnStartups

In just about all cases, to successfully disrupt a large incumbent, your best case scenario is that they completely ignore you and what you're doing. You want the incumbent to act "rationally", because an emotionally fired-up incumbent will come try to crush you simply out of spite and ego. The fact that what you have doesn't meet the needs of the existing customer-base is what makes it easier for the incumbent to ignore you. Working on a startup?

Gophr, the U.K. last-mile delivery company, picks up £4M funding

TechCrunch

I think with most delivery apps and at incumbent carriers the courier is kind of incidental, and seen as replaceable; we try to focus on how we can make them better, and we’re still working on it,” he says. I don’t see how the incumbent U.K. Gophr , a U.K.-based

The Feedback Loops in Data that Will Change SaaS Architecture

Tomasz Tunguz

The architecture enables SaaS companies to reimagine the largest categories of software and rebuild them to challenge the incumbents. About a year ago, I wrote a post on the hub and spoke data model.

SaaS 83

How COVID-19 is Changing Digital Health

Dream It

However, if you’re already an incumbent at a large health system with a compelling Covid-19 use case, then you’re in a really good spot. Earlier this month, Adam Dakin , Managing Director of Dreamit Healthtech, joined Phase2 Health to share his insight on how the pandemic is changing healthcare.

health 150

Equity Monday: HungryPanda raises $70M, trade tensions, and cross-border VC

TechCrunch

That should be good news for payments processors incumbent and startup, as well as other ecommerce businesses, again large, small, and even platform-focused. Hello and welcome back to Equity , TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

TrustLayer raises $6M seed to become the ‘Carta for insurance’

TechCrunch

Mort appreciates that TrustLayer is tackling the problem not by becoming the insurance broker, but by working with the incumbents as a software solution. TrustLayer , which provides insurance brokers with risk management services via a SaaS platform, has raised $6.6 million in a seed round.

Convoy: The Future of Truck Freight

Y Combinator

In the last few years, incumbents have started to adopt technology to fix inefficiencies, but they’ve focused on tools to streamline individual tasks (e.g., Fragmented supply and demand is a problem for incumbents, but a great opportunity for a digital marketplace.

How to Decrease the Odds That Your Startup Fails

Both Sides of the Table

So when Sam Rosen came to me with the idea of disrupting storage with a product that is priced cheaper than existing incumbents and he could build a product that is a better service I was intrigued. dominated by a few very large incumbents who control much of the distribution or are you going into a market that is “fragmented” where nobody controls the industry. Incumbent Strengths & Weaknesses. Many startup businesses – tech or otherwise – fail.

Cosmos Video – a ‘Club Penguin for adults’ to socialise and work – raises $2.6M from LocalGlobe

TechCrunch

The competition is the incumbent video conferencing platforms such as Zoom and Microsoft Teams, but calls on these platforms have a set agenda, and are timeboxed – they’re rigid and repetitive.

5 Predictions for 2020

Tomasz Tunguz

And incumbents desire as much of that as possible for themselves. Startups begin to siphon off important but underserved segments of SaaS incumbent's customer bases. Here are my 5 predictions for 2020. The direct listing becomes the standard way for startups to go public in 2020. The idea has been proven by Slack and Spotify, and many others will follow. Most startups at IPO have plenty of cash and don't need to raise more in the public markets.

Flink, the Berlin-based grocery delivery startup that operates its own ‘dark stores’, raises $52M

TechCrunch

Their deep understanding of the core market dynamics is what will make them succeed” Schultz also argues that existing supermarket infrastructure can’t deliver on express grocery shopping and that large incumbents don’t have the skillset or agility to build on-demand grocery.

#GiveFirst In Action

TechStars

Then a large incumbent announced a new module that filled the same function as her product. #GiveFirst is a Techstars mantra. Simply put, it means giving—advice, resources, assistance, etc.—with with no expectation of getting anything specific back. When a network of people, such as a global community of entrepreneurs, live in a #GiveFirst way, each is helpful whenever they can be. This builds a powerful network of caring people, all flourishing because they are all giving to each other.

Opportunity Amid Volatility

Haystack

They’ll have to back up the truck for their best companies, take acquisitions off the table, and go right after the incumbents head-on. Speaking of acquisitions — many leaders of larger VC funds have privately given up on the incumbents buying their companies. Instead, they would prefer to back their winners to take on the incumbents head-on — hence, we have larger funds and longer hold periods to get liquidity. It’s an unusual time in the markets.

Accel backs Mexican startup Flink’s effort to bring consumer investing to Latin America

TechCrunch

The banks and incumbents take advantage of that and make people feel like they’re not smart enough to manage their money. Here in the U.S., we take for granted the ability to invest and trade in the stock market.

The Future of Hospitality is Here

Revolution

and by substantial amounts of invested capital in formal amenities required by incumbent brands that are frequently cost centers rather than profit centers (lobby restaurant, room service, etc.). Image courtesy of Mint House Real estate lies at the core of our everyday lives?—?it it characterizes the space in which we live, the environment in which we work, and the places where we socialize.