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ModelOp Raises $6 Million in Series A Funding from Valley Capital Partners to Meet Increasing Demand for Foundational ModelOps Capabilities for Enterprise AI

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CHICAGO, March 31, 2020 (GLOBE NEWSWIRE) — ModelOp, the pioneer of ModelOps software and services for major enterprises, today announced that it has closed a $6 million Series A round of funding, led by Valley Capital Partners, with participation from Silicon Valley Data Capital, and expands the company’s board with the addition of Steve O’Hara, Managing Partner at Valley Capital Partners. Aligned with its funding objectives, ModelOp has expanded its executive team with three new appointments: Sheau-ming Ross, as chief financial officer; Mark LeMonnier, as vice president of software engineering; and Linda Maggi, as vice president of marketing. ModelOp today also announced general availability for ModelOp Center Version 2, its flagship software platform that automates model deployment, monitoring and governance.
Since its founding in 2016, ModelOp has maintained a singular focus on the challenge of ModelOps, which is increasingly recognized as a foundational capability necessary for enterprises to operationalize and gain business benefits from AI technology. Much in the way that DevOps has become a fundamental discipline for developing and delivering software, ModelOps is the inevitable response by enterprises to the unique technical and business challenges inherent in operationalizing data science and machine learning models.Undeployed and ungoverned DS/ML models cost enterprises millions in unrealized value and expose them to millions more in governance and compliance risks. ModelOps addresses the growing “Model Debt” accumulating in the many companies that have invested heavily in data science and machine learning (DS/ML) but have yet to realize the full value of those investments. “As enterprise Model Debt grows quickly, the emphasis is now on getting AI models out of pilot and into production, and this is driving rapid growth in the market for ModelOps,” said Pete Foley, CEO of ModelOp. “With this latest round of funding, we’re well positioned to grow and ensure that our platform and delivery capabilities stay well ahead of competitive offerings and can accommodate the evolving regulatory landscape.”ModelOp’s flagship software platform – ModelOp Center – enables organizations to put their models into production faster, with full control and visibility into critical model-based business assets, and with full transparency and auditability. ModelOp’s customers include five of the top 10 largest financial institutions, as well as Fortune 500 manufacturers, insurers, and credit bureaus.ModelOp was named by Gartner* in the February 2020 “Assessing DevOps in Artificial Intelligence Initiatives” report. According to the report, “ModelOps (model operations) is an emerging platform for DevOps in AI initiatives that focus on moving and facilitating AI and/or ML models through a standard life cycle.” Further, “Organizations continue to struggle getting their AI and data science models deployed to production and managed once they are there. ModelOps aims to reduce the burden of deploying and managing models in production.”“ModelOp has made a tremendous impact on our business and the way we deliver on client experience and transparency across all areas of capital markets,” said Joe Squeri, CTO/COO at Exos, former CIO of Barclays and managing director, technology, at Goldman Sachs. “ModelOp has enabled us to focus on our priority models to deliver maximum value while equipping us with the necessary governance and control capabilities to manage compliance and risk requirements. Exos is all-in as a model-driven enterprise, and ModelOp has proven itself to be the trusted partner we’ll continue to rely upon as we advance our business and data science capabilities.”The new investment by Valley Capital Partners and Silicon Valley Data Capital validates the unique position of ModelOp and underscores the indicators that ModelOps is on the trajectory to become a market as big or as bigger than DevOps. DevOps has been valued by IDC to reach $8 billion by 2022. This funding round will be used to support rapidly growing demand,as well as additions to engineering, services, sales, operations and customer success.“We’re extremely compelled by the growing recognition among enterprises that they need to invest in ModelOps to realize the value of AI,” said Steve O’Hara, Managing Partner at Valley Capital Partners. “ModelOp is pioneering a major new category and we’re looking forward to working with the leadership team in the next phase of the company’s growth.”The appointments of Ross, LeMonnier and Maggi speak to the demand of ModelOp’s growing customer base and product innovation drive. All three individuals bring a proven track record of achievements and deep industry expertise. Ross was most recently chief financial officer for the Robert R. McCormick Foundation and prior chief financial officer for three growth-stage technology companies, including Mattersight and EPAY Systems; LeMonnier was vice president of engineering with Ancestry.com; and Maggi was senior director of world wide field and partner marketing with BMC Software. Collectively, their extensive experience in IT and understanding of the challenges that today’s enterprise face with AI and data science will support the company as it defines and leads the category of ModelOps.For more information about ModelOp’s unique approach and its solutions portfolio, please visit https://www.modelop.com/.For more information about ModelOp Center – Version 2.0, please visit https://www.modelop.com/product/.*Gartner Inc., Assessing DevOps in Artificial Intelligence Initiatives, Carlton Sapp, Feb. 21, 2020.About ModelOp:ModelOp enables large enterprises to address the critical scale and governance challenges necessary to fully unlock the transformational value of enterprise AI and Machine Learning investments. The ModelOp Center platform is the essential business accountable software solution that automates the complete life cycle for models, regardless of where they are  created or deployed. Fortune1000 companies in financial services, manufacturing, healthcare and other industries rely on ModelOp to put their models into business.About Valley Capital PartnersValley Capital Partners is an early stage venture capital firm investing in technology-based companies. We back entrepreneurs who are building disruptive, market-transforming enterprise infrastructure and deep tech companies that create new categories and change industries.  We get involved at the earliest stages of company creation and stay committed throughout the life of the company.  Valley Capital Partners is based in Menlo Park, California.About Silicon Valley Data CapitalSilicon Valley Data Capital is an early stage venture capital firm focused on investing in premier next-generation enterprise software companies.Press Inquiries:Sophia Xepoleas for ModelOp
(925) 768-5462
[email protected]

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Artificial Intelligence

Paperpal achieves major milestone; emerges as go-to AI writing assistant for 1 million academics globally

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PRINCETON, N.J., May 22, 2024 /PRNewswire/ — Paperpal, the AI academic writing assistant by Cactus Communications (CACTUS), is proud to announce a significant milestone of surpassing one million users worldwide in just 18 months since its launch. This achievement underscores the trust academics have placed in Paperpal, which has evolved from being an editing tool to a comprehensive AI academic writing assistant, guiding users from ideation to submission readiness.

Leveraging over 22 years of scientific, technical, and medical (STM) experience, Paperpal is continually expanding and deepening its support for students, educators, and researchers globally, empowering them to streamline the academic writing process and deliver high-quality, original content faster than ever before.
Several factors have contributed to Paperpal’s rapid growth, including academic-focused features such as precise, contextual writing and editing suggestions, comprehensive checks, and a user-friendly interface. Moreover, early adoption by the global researcher community, particularly non-native English speakers, has played a pivotal role in driving its popularity. Paperpal’s commitment to prioritizing user feedback for continuous improvement is evident in its consistent high Net Promoter Score (NPS) of 70. This indicates the high user satisfaction and strong recommendations by leading universities, publishers, and academics from 125+ countries, including the United States, United Kingdom, Germany, Italy, Japan, and India.
Expressing excitement on this milestone, Abhishek Goel, Co-Founder & CEO, Cactus Communications, says, “We are thrilled to announce that Paperpal has reached this milestone. Our mission is to help researchers reach their highest potential, and Paperpal as a tool empowers them with assistance in ideation, writing, editing and overall submission readiness of their manuscripts. We look forward to continue to empower students and researchers worldwide to be able to do more with their time.”
Nishchay Shah, Chief Technology Officer and Head, Emerging Products, Cactus Communications, adds, “This milestone is a testament to the dedication of the entire team behind Paperpal, which is continually working to support academics in their research pursuits by building and harnessing the latest AI technologies. With our user feedback-driven roadmap philosophy and continuous iteration, we aim to be the #1 writing tool of choice for academics worldwide.”
Paperpal leverages secure generative AI to provide science-based insights, text suggestions, language and grammar correction, paraphrasing, translation, with plagiarism and submission readiness checks to help academics write better, faster, and move closer to publication success.
For more information, visit https://paperpal.com/
For more details, contact:Nidhi AminCactus Communications (CACTUS)Email: [email protected] | [email protected] Tel no.: +1-267-332-0051
 
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NTT DATA to celebrate its success with SAP at the Sapphire and ASUG Annual Conference 2024

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NTT DATA invites attendees at SAP Sapphire 2024 in Orlando and Barcelona to learn how to bring out the best in their business with SAP, across a range of hosted talks and sessions during the eventsNTT DATA will reveal “Transformation Study 2024” insights at the event in partnership with its subsidiary NatuvionAward Ceremony in Orlando: Four prestigious SAP© Pinnacle Awards underscore NTT DATA’s success as a key partner for SAP globallyBARCELONA, Spain and ORLANDO, Fla., May 22, 2024 /PRNewswire/ — NTT DATA, a global digital business and IT service provider, has announced today that it will celebrate its long and successful partnership with SAP by attending the upcoming SAP Sapphire 2024 conferences worldwide. NTT DATA will be a Platinum Sponsor at the SAP Sapphire and ASUG Annual Conference 2024 from 3-5 June 2024, in Orlando, Florida, and will also be a Platinum Sponsor at the SAP Sapphire event in Barcelona (11-13 June).

“SAP Sapphire is always a highlight for us. We are the top winner this year with four Pinnacle Awards and five finalist recognitions. This underscores the trust that SAP and our customers have in our 35 years of expertise,” said Norbert Rotter, CEO of NTT DATA Business Solutions and EVP NTT DATA, Inc.
Transformation Study to be released at SAP Sapphire
In collaboration with its subsidiary Natuvion, NTT DATA will unveil the Transformation Study 2024 at the SAP Sapphire conference in Orlando and will make it available for download at their booth during both Orlando and Barcelona events. The report will provide in-depth insights into the challenges, success factors and lessons learned by enterprises during the transition from legacy IT systems to modern, innovative technologies. With perspectives from industry leaders in Germany, Austria, Switzerland, Norway, Finland, Sweden, Denmark, UK and the USA, the study reveals how their organizations are modernizing their IT infrastructure and planning for their future.
Celebrate with NTT DATA in Orlando and Barcelona
Meet us in Orlando to learn how we can help power intelligent and sustainable enterprises and ignite tomorrow, today with innovative technology solutions, industry domain expertise and an assortment of SAP lifecycle-based tools and accelerators. Leaders from four NTT DATA Group organisations will address the following topics in Sapphire theatre presentations:
4th June, 10:30am, Orlando – Transforming SugarCreek for Tomorrow with SAP S/4HANA (Strategy Talk)4th June, 11:00am, Orlando – NTT DATA and SAP Preferred Success: Maximizing Value for SugarCreek (Customer Success Story)12th June, 1:30pm, Barcelona – Andel: Transitioning two SAP ECC systems to SAP S/4HANA in the cloudMake sure to stop by our booth or schedule a meeting with our SAP experts who will be available in booth #351 in Orlando, Florida and booth #5.305 in Barcelona, Spain.
For more information visit nttdata-solutions.com.
About NTT DATA
NTT DATA is a $30+ billion trusted global innovator of business and technology services. We serve 75% of the Fortune Global 100 and are committed to helping clients innovate, optimize and transform for long-term success. We invest over $3.6 billion each year in R&D to help organizations and society move confidently and sustainably into the digital future. As a Global Top Employer, we have diverse experts in more than 50 countries and a robust partner ecosystem of established and start-up companies. Our services include business and technology consulting, data and artificial intelligence, industry solutions, as well as the development, implementation and management of applications, infrastructure, and connectivity. We are also one of the leading providers of digital and AI infrastructure in the world. NTT DATA is part of NTT Group and headquartered in Tokyo. Visit us at nttdata.com
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.
 
 

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BeCause and d2o Team Up to Create First-of-its-Kind CSRD Solution for the Travel and Hospitality Industries

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Combining d2o’s PMI GoGreen environmental management tool and BeCause’s sustainability data management platform offers hotels the only CSRD compliance solution rooted in efficiency and profitability.
NICE, France, May 22, 2024 /PRNewswire/ — BeCause, the Danish start-up transforming how the global hospitality, travel, and tourism industries manage their sustainability data, has partnered with d2o, a leading forecasting and resourcement management technology provider for the hospitality industry, to create a comprehensive Corporate Social Responsibility Directive (CSRD) solution for hotels. The collaboration unites the BeCause Sustainability Hub with d2o’s PMI GoGreen suite of prediction, targeting, tracking, and allocation tools to create an auditable CSRD reporting solution that goes beyond compliance to boost efficiency and profits. The partnership was announced yesterday at the World Sustainable Hospitality Alliance Spring Summit in Nice, France.

By joining forces, BeCause and d2o have taken a giant leap toward building a viable, valuable ecosystem between the hotel industry and technology providers that leverages the power and potential of daily sustainability data management. CSRD compliance is just the starting point; BeCause and d2o are demonstrating that with the right technology, sustainability initiatives can drive operational efficiency and profitability for hotels around the world.
“As an inventor and entrepreneur, it is a dream come true to have a product that fully meets the needs of our customers’ stakeholders, including owners, guests, staff, authorities, and local communities,” says d2o CEO Young Nguyen. “The partnership between d2o and BeCause will enhance the hotel industry’s ability to transform a costly compliance challenge into a business opportunity. We call this partnership PMI GoGreen BeCause… because the hotel industry and the planet require a comprehensive solution to address a complex issue.”
Going Beyond CSRD Reporting and Compliance
As a result of this partnership, the PMI GoGreen tools will be seamlessly integrated into the BeCause platform. This integration, facilitated by an API, allows for the sharing and mapping of data, making it reusable for CSRD reporting. This not only simplifies the compliance process for hotels but also ensures accuracy and auditability at the activity level, meeting financial-grade CSRD reporting standards.
However, the joint solution goes beyond compliance and reporting. By centralizing data within the BeCause platform and applying the integrated PMI GoGreen tools, hotel chains gain visibility into which individual properties are meeting their targets for reducing CO2 emissions, energy consumption, water usage chemicals, waste, towels & linens, and food waste. The combined solution also utilizes machine learning algorithms and predictive analytics to identify those targets and help properties optimize resource usage to meet them amidst daily fluctuating demand. System integration service ensures seamless interoperability between the BeCause Sustainability Hub, PMI GoGreen tools, and various internal hotel systems, including property management, point-of-sale, table reservations, sales and catering, timekeeping, and more.
These combined capabilities allow hotels to increase efficiency—hotels are projected to reap 12-15% in resource savings—cultivate ownership among frontline managers, showcase their sustainability efforts to travelers, and, of course, meet their CSRD compliance obligations.
“We believe in the power of ecosystems, and by partnering with d2o, we’ve built a particularly effective one,” says BeCause CEO and Co-founder Frederik Steensgaard. “Not just in terms of helping hotels reach CSRD compliance, but by using the combined capabilities of our solutions to address everyday issues that impact their margins and organizational effectiveness. Why should compliance and reporting be a cost-heavy headache for hotels when it could be driving profitability and operational efficiency?”
An Efficient Solution Specifically Designed for Hospitality
BeCause is a purpose-built, AI-powered hub that centralizes a hotel’s sustainability data and automates the transmission of that data amongst different stakeholders, such as travel and accommodation booking marketplaces and industry certifications. Additionally, once a hotel enters its data into the BeCause platform, it can be upcycled and automatically mapped to multiple frameworks, making qualifying for voluntary green certifications faster and more efficient while ensuring regulatory compliance.
The PMI GoGreen suite of tools developed by d2o enables hospitality groups to achieve their long-term environmental goals by breaking them down into monthly targets tailored to each property’s attributes and seasonal variations. Each hotel’s future targets are dynamically adjusted based on progress, ensuring the consistency of the group’s end goal. Individual hotels and hotel chains can track their progress with forward looking data-based indicators and utilize predictive analytics to optimize resource allocation, minimize waste, and cut operating costs.
The combined PMI GoGreen BeCause solution leverages these capabilities to deliver at least 100% ROI for hotels that implement it. The solution will undergo a phased roll-out through the summer of 2024 before formally launching in September.
For more information about BeCause, d2o or the partnership, or to request an interview, please contact: Vanessa Horwell at [email protected] for BeCause CEO and Co-founder, Frederik Steensgaard or Young Nguyen [email protected] for d2o, Founder and CEO.
About BeCauseBeCause is an enterprise software company that streamlines the flow of sustainability data and creates synergies between different stakeholders in the travel, tourism, and hospitality industries, empowering them to make decisions that result in positive, responsible change for people, the planet, and their profits. BeCause works with over 25,000 hotels, including brands like Radisson, certification entities like GreenKey, industry partners like the Global Sustainable Tourism Council and the SHA, and marketplaces like Booking.com. For more information, visit because.eco.
About d2o and PMI GoGreenFounded in Norway and built on Scandinavia’s legacy of employee well-being and sustainability, d2o has over 20 years of experience helping clients optimize resources for maximum profit while navigating high-cost environments. The company’s PMI GoGreen Environmental Management System (EMS) empowers hotel managers to surpass compliance and achieve true sustainability. Leveraging auditable data, predictive analytics, and hotel demand, PMI GoGreen reduces CO2 emissions and the usage of critical resources like energy, water, and food and transforms hotel sustainability obligations into a profitable, cross-functional endeavor. For more information, please visit www.d2o.com/sustainability-gogreen-with-pmi-by-d2o/.

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