Even with the pandemic’s disruptions, the enterprise tech startup sector is bursting at the seams with companies capitalizing on rising demand for large datasets, mobility, DevOps, cloud, the internet – of – things, and encryption tools. Thus according to Gartner, the global IT market will increase by 6.2 percent in the year, reaching $3.9 trillion in aggregate.
The unparalleled pace of digital disruption in 2020 to meet the shift to remote jobs, transitions in schooling, and new cultural standards posed by lockdowns has substantially influenced the COVID-19 outbreak’s early hit to IT spending. (According to Crunchbase, worldwide venture capital funding during the first quarter of 2020 was down around 6% from the same time last year, totaling $130 billion, the lowest amount since 2017.)
Particularly in the current year, financing hotspots arose during the disease outbreak, with Massachusetts, Indonesia, Israel, Australia, New Zealand, France, Belgium, India, and Brazil all showing above-average funding levels.
Throughout this list, we showcase a few of the newest tech companies for large enterprise clients and who their consumers are, how much money they’ve raised so far, and how near they will be to IPOs or acquisitions in 2021.
-
Cockroach Labs:
Cockroach Labs is a new technology company that specializes in database systems for businesses. CockroachDB, a cloud-native, distributed SQL database that offers “next-level durability, ultra-resilience, data locality, and global scale to current cloud services,” was established in 2015 by three ex-Google employees.
This new tech company has a revenue of more than doubled in 2020 due to the COVID-19 outbreak due to widespread ai adoption. This year, the startup plans to expand at a similar pace. And it claims to be on track to double its employees around 200 to 400 even by the ends of 2021.
On January 12, 2021, Cockroach Labs generated $160 million in Series E funding. The investment comes just eight months after the startup received $86.6 million worth of Series D funding, valuing the company at about $2 billion.
-
Cohesity:
Cohesity is a ‘hot’ business startup for several reasons: unique technology, a developer on his second act after co-founding with a now software firm Nutanix, and $250 million in funding through SoftBank’s Seed Funding. The new tech company has initially been pitched as a less costly way for companies to store “secondary data” — backups, archives, test/dev, and analytics data — all of which could be monitored from a single cloud service.
Since then, it has grown into other aspects of enterprise data processing, such as analytics, protection, and incident response. Cohesity raised $250 million in Series E financing in April 2020, taking its overall funding to $660 million. The industry was incorporated at $2.5 billion as a result of this.
-
Confluent:
This new tech company is a commercial version of the app that lets developers manage high-volume device and app messaging and add real-time data streams to their applications. The makers of open-source Apache Kafka developed it. LinkedIn utilizes the technology for behavior data streams and operational metrics; Netflix uses it for legitimate tracking and its incident infrastructure; and Spotify, which uses this as part of its log distribution system, has all adopted Kafka.
Confluent’s objective is to make it simpler for businesses that don’t have many developer resources to use Kafka. In April 2020, Coatue Management led a $250 million Series E funding round, with support from Altimeter Capital, Sequoia Capital, and established investors Index Ventures and Franklin Templeton.
-
Front:
After graduating from the renowned Silicon Valley startup accelerator Y Combinator, French nationals Mathilde Collin, who is still CEO, Laurent Perrin, CTO, formed Front. Front evokes the proselytizing that’s typically reserved for consumer apps rather than corporate applications, prompting Slack comparisons. The actual Front app is for every team who has a mail account that they share.
It’s beneficial for customer service, sales, and even public relations departments. It helps teams delegate emails to team members and work in a shared room, resulting in faster response times. Following a significant cash infusion, the firm is now working to transform the educational purposes for all office staff.
-
Funnel:
Software-as-a-service (SaaS) is the new tech company from Sweden Funnel focuses on integrating and cleaning up marketing and advertisement data for companies, irrespective of where it is stored, to gain deeper consumer insights.
The software is priced in tiers based on monthly advertising revenues, with the lowest level beginning at $499 per month. Skyscanner, Samsung, and Ubisoft are examples of reference customers. “Once the data is adequately prepared, current enterprise resource planning systems do an excellent job of visualizing it, “Fredrik Skantze, co-founder and CEO of Funnel, told TechCrunch.
“Automating the processing and processing of data has proved to be a challenging challenge, and we wanted to be sure we were the best at it, which we can already honestly claim we are because we hear it from customers all the time. Eight Roads Ventures and F-Prime Capital led a $47 million Series B financing round for Funnel in January 2020, with involvement from established shareholders Oxx, Zobito, Industrifonden, Balderton Capital, and Kreos Capital. It intends to extend into the United States.
