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A Biden Win Could Mean A Loss For Israel’s Netanyahu

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Wrike launches new AI tools to keep your projects on track

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Project management service Wrike today announced a major update to its platform at its user conference that includes a lot of new AI smarts for keeping individual projects on track and on time, as well as new solutions for marketers and project management offices in large corporations. In addition, the company also launched a new budgeting feature and tweaks to the overall user experience.

The highlight of the launch, though, is, without doubt, the launch of the new AI and machine learning capabilities in Wrike . With more than 20,000 customers and over 2 million users on the platform, Wrike has collected a trove of data about projects that it can use to power these machine learning models.

Image Credits: Wrike

The way Wrike is now using AI falls into three categories: project risk prediction, task prioritization and tools for speeding up the overall project management workflow.

Figuring out the status of a project and knowing where delays could impact the overall project is often half the job. Wrike can now predict potential delays and alert project and team leaders when it sees events that signal potential issues. To do this, it uses basic information like start and end dates, but more importantly, it looks at the prior outcomes of similar projects to assess risks. Those predictions can then be fed into Wrike’s automation engine to trigger actions that could mitigate the risk to the project.

Task prioritization does what you would expect and helps you figure out what you should focus on right now to help a project move forward. No surprises there.

What is maybe more surprising is that the team is also launching voice commands (through Siri on iOS) and Gmail-like smart replies (in English for iOS and Android). Those aren’t exactly core features of a project management tools, but as the company notes, these features help remove the overall friction and reduce latencies. Another new feature that falls into this category is support for optical character recognition to allow you to scan printed and handwritten notes from your phones and attach them to tasks (iOS only).

“With more employees working from home, work and personal life are becoming intertwined,” the company argues. “As workers use AI in their personal lives, team managers and everyday users expect the smarts they’re accustomed to in consumer devices and apps to help them manage their work as well. Wrike Work Intelligence is the most comprehensive machine learning foundation that taps into tens of millions of work-related user engagements to power cross-functional collaboration to help organizations achieve operational efficiency, create new opportunities and accelerate digital transformation. Teams can focus on the work that matters most, predict and minimize delays, and cut communication latencies.”

Image Credits: Wrike

The other major new feature — at least if you’re in digital marketing — is Wrike’s new ability to pull in data about your campaigns from about 50 advertising, marketing automation and social media tools, which is then displayed inside the Wrike experience. In a fast-moving field, having all that data at your fingertips and right inside the tool where you think about how to manage these projects seems like a smart idea.

Image Credits: Wrike

Somewhat related, Wrike’s new budgeting feature also now makes it easier for teams to keep their projects within budget, using a new built-in rate card to manage project pricing and update their financials.

“We use Wrike for an extensive project management and performance metrics system,” said Shannon Buerk, the CEO of engage2learn, which tested this new budgeting tool. “We have tried other PM systems and have found Wrike to be the best of all worlds: easy to use for everyone and savvy enough to provide valuable reporting to inform our work. Converting all inefficiencies into productive time that moves your mission forward is one of the keys to a culture of engagement and ownership within an organization, even remotely. Wrike has helped us get there.”

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Lessons from Datto’s IPO pricing and revenue multiple

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Last night Datto priced its IPO at $27 per share, the top end of its range that TechCrunch covered last week. The data and security-focused software company had targeted a $24 to $27 per-share IPO price range, meaning that its final per-share value was at the top of its estimates.


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The Datto IPO won’t draw lots of attention; its business is somewhat dull, as selling software to managed service providers rarely excites. But, the public offering matters for a different reason: It gives us a fresh lens into today’s IPO market.

That lens is the perspective of slower, more profitable growth. What is that worth?

The value of quickly growing and unprofitable software and cloud companies is well known. Snowflake made a splash earlier this year on the back of huge growth and enormous losses. Investors ate its shares up, pushing its valuation to towering heights. This year we’ve even seen rapid growth and profits valued by public investors in the form of JFrog’s IPO.

But slower growth, software margins and profitability? Datto’s financial picture feels somewhat unique among the IPOs that TechCrunch has covered this year.

It’s a similar bet to the one that Egnyte is making; the enterprise software company crested $100 million ARR last year and announced that it grew by around 22% in the first half of 2020. And, it is profitable on an EBITDA basis. Therefore, the Datto IPO could provide a clue as to whether companies like Egnyte and the rest of the late-stage startup crop should be content to grow more slowly, but with the benefit of actually making money.

Lessons from Datto’s IPO pricing and revenue multiple

Here are the deal’s nuts and bolts:

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Mine raises $9.5M to help people take control of their personal data

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TechCrunch readers probably know that privacy regulations like Europe’s GDPR and California’s CCPA give them additional rights around their personal data — like the ability to request that companies delete your data. But how many of you have actually exercised that right?

An Israeli startup called Mine is working to make that process much simpler, and it announced this morning that it has raised $9.5 million in Series A funding.

The startup was founded CEO Gal Ringel, CTO Gal Golan and CPO Kobi Nissan. Ringel and Golan are both veterans of Unit 8200, the cybersecurity unit of the Israeli Defense Forces.

Ringel explained that Mine scans users’ inboxes to help them understand who has access to their personal data.

“Every time that you do an online interaction, such as you sign up for a service or purchase a flight ticket, those companies, those services leave some clues or traces within your inbox,” he said.

Mine

Image Credits: Mine

Mine then cross-references that information with the data collection and privacy policies of the relevant companies, determining what data they’re likely to possess. It calculates a risk score for each company — and if the user decides they want a company to delete their data, Mine can send an automated email request from the user’s own account.

Ringel argued that this is a very different approach to data privacy and data ownership. Instead of building “fences” around your data, Mine makes you more comfortable sharing that data, knowing that you can take control when necessary.

“The product gives [consumers] the freedom to use the internet feeling more secure, because they know they can exercise their right to be forgotten,” he said.

Ringel noted that the average Mine user has a personal data footprint across 350 countries — and the number is more like 550 in the United States. I ran a Mine audit for myself and, within a few minutes, found that I’m pretty close to the U.S. average. (Ringel said the number doesn’t include email newsletters.)

Mine launched in Europe earlier this year and says it has already been used by more than 100,000 people to send 1.3 million data deletion requests.

The legal force behind those requests will differ depending on where you live and which company you are emailing, but Ringel said that most companies will comply even when they’re not legally required to do so, because it’s part of creating a better privacy experience that helps them “earn trust and credibility from consumers.” Plus, “Most of them understand that if you want to go, they’ve already lost you.”

The startup’s core service is available for free. Ringel said the company will make money with premium consumer offerings, like the ability to offload the entire conversation with a company when you want your data deleted. It will also work with businesses to create a standard interface around privacy and data deletion.

As for whether giving Mine access to your inbox creates new privacy risks, Ringel said that the startup collects the “bare minimum” of data — usually just your email address and your full name. Otherwise, it knows “the type of data, but not the actual data” that other companies have obtained.

“We would never share or sell your data,” he added.

The Series A was led by Google’s AI-focused venture fund Gradient Ventures, with participation from e.ventures, MassMutual Ventures, as well as existing investors Battery Ventures and Saban Ventures. Among other things, Ringel said the money will fund Mine’s launch in the United States.

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