Artificial Intelligence
Devo Names Former CrowdStrike and Aqua Security Executive as SVP of Corporate Development
CAMBRIDGE, Mass., Nov. 18, 2020 (GLOBE NEWSWIRE) — Devo Technology, the cloud-native data analytics and security company, today announced the appointment of Upesh Patel as senior vice president of corporate development. Patel brings deep experience and a proven track record in the security industry for creating value from next-generation cloud-native security technologies, and for building strategic relationships at some of the world’s most recognized security companies, including Aqua Security, CrowdStrike, IBM Security, and Check Point Software. He will play a key role in driving Devo’s strategic direction forward, contributing critical insights on products, market trends, and business opportunities.
Patel joins Devo at a pivotal time as the company’s explosive momentum continues into the second half of this year, with no signs of slowing. The company’s more than 100% year-over-year growth in Q3 is underpinned by strong growth in enterprise customers, including marquee organizations Bird, Magna International, One Main Financial, and Sprout Social.
“We’re experiencing a sea change in the security analytics market as more and more organizations urgently look to replace legacy solutions that have failed analysts and SOCs, especially as enterprises accelerate their move to the cloud,” said Marc van Zadelhoff, CEO of Devo. “Rapidly expanding customer requirements—which Devo is uniquely positioned to fulfill—are driving a surge in the need for, and interest from, a broad ecosystem of strategic partners. Upesh’s experience and insight will be instrumental for Devo as we drive the company’s next phase of growth and success through integrations and partnerships with leading technology companies ranging from cloud providers to technology and OEM partners. We’re absolutely thrilled to have Upesh on our team.”
Patel brings decades of executive-level experience in business strategy and corporate development. Most recently, he was vice president of business development at container and cloud-native security pioneer Aqua Security. Prior to Aqua, he served as vice president of business and corporate development at CrowdStrike, and spent several years as vice president of business development at Trusteer, which was acquired by IBM Security. He also spent nearly a decade at Check Point Software as director of business development. Patel earned a bachelor’s degree in computer science from the University of Kent at Canterbury in the U.K.
Devo’s momentum is also reflected by numerous industry accolades during the last month alone. Devo earned a spot on the 2020 Deloitte Technology Fast 500 for the second consecutive year, and was named a Leader in The Forrester Wave™: Artificial Intelligence For IT Operations, Q4 2020. Recognized as a Boston company that is setting the innovation ecosystem ablaze, Devo made BostInno’s 2020 Inno on Fire list in the Security Tech category, and the Massachusetts Technology Leadership Council’s 2020 Tech Top 50 for Business Accomplishment.
About Devo
Devo, the cloud-native logging and security analytics company, empowers security and operations teams to maximize the value of all their data. Only the Devo platform delivers the powerful combination of real-time visibility, high-performance analytics, scalability, multitenancy, and low TCO crucial for monitoring and securing business operations as enterprises accelerate their shift to the cloud. Headquartered in Cambridge, Mass., Devo is backed by Insight Partners, Georgian, and Bessemer Venture Partners. Learn more at www.devo.com.
PR Contacts:
Devo Technology
Shannon Todesca
[email protected]
+1 (781) 797-0898
CHEN PR for Devo Technology
Jennifer Torode
[email protected]
(781) 672-3119
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Artificial Intelligence
Bravent, Microsoft’s Technology Consulting Partner, Expands into Northern Europe
DUBLIN, May 2, 2024 /PRNewswire/ — The technology consulting firm Bravent, a leader in Microsoft solutions and artificial intelligence, announces its expansion into Northern Europe. This strategic move is part of the Spanish firm’s ongoing effort to extend its expertise in innovation internationally, supporting companies towards digital transformation.
As a Microsoft partner, Bravent consistently provides cutting-edge technology solutions that enable companies to maximize efficiency, improve productivity and achieve digitalization. The expansion into Northern Europe represents a milestone in Bravent’s history, marking a new chapter in its bid to consolidate its innovation leadership.
“Expanding our presence to Northern Europe aligns with our vision to bring state-of-the-art AI solutions and Microsoft expertise to businesses in this region,” said José Luis Carrascosa, CEO of Bravent, who expressed his enthusiasm to “contribute to the technology growth and innovation landscape in Northern Europe with our robust solutions and experienced team.”
Bravent’s expansion in Northern Europe will be led by Mark McCrory, who joins the firm as a partner and regional leader. Mark joins Bravent from Microsoft, where for the past 20 years he has held regional leadership positions within the Consulting Services division, most recently as COO for Microsoft Denmark. Mark has an extensive track record of working with enterprise customers to help them realize value from their Microsoft Cloud investments, experience that he will now bring to Bravent’s customers in this region.
Bravent’s decision to begin operations in Northern Europe is the result of a detailed analysis of regional technology needs and the market dynamics themselves. The company is committed to contributing to local economies and fostering relationships with regional businesses to tailor solutions that respond to their challenges and opportunities.
With this expansion, Bravent will introduce Northern Europe to its range of services, including artificial intelligence integration, cloud computing solutions and enterprise software development, all designed to leverage the technological power of Microsoft. Bravent plans to establish local offices and hire regional talent, ensuring that its solutions are both globally informed and locally tailored.
About Bravent
Bravent is a Microsoft technology consulting firm specializing in advanced artificial intelligence solutions and digital transformation strategies. With a proven track record of success and innovation, Bravent supports businesses around the globe in harnessing the power of technology to thrive in an ever-evolving digital landscape.
For more information, please visit https://www.bravent.net/en/).
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Artificial Intelligence
CIN7 ACQUIRES AI FORECASTING COMPANY INVENTORO, PAVING THE WAY FOR NEXT-LEVEL INTELLIGENT COMMERCE
Leading inventory and order management software invests in growth, new AI capabilities on the heels of new CEO appointment
DENVER, May 2, 2024 /PRNewswire/ — Cin7, the industry-leading inventory and order management software provider, today announced the acquisition of Inventoro, a leading provider of AI-driven sales forecasting and replenishment optimization solutions. The acquisition and integration of Inventoro’s capabilities with Cin7’s platform will extend product seller’s access to state-of-the-art AI technology, enabling customers to enhance existing inventory and order management capabilities with intelligent prediction and optimization.
Overstocking and similar inefficiencies are estimated to drive $163B in losses each year for global product sellers. The combined power of Inventoro and Cin7 can change that. Inventoro’s innovative AI-powered forecasting technology accurately predicts future product demand, providing daily updates on key optimization performance and insights on which products drive profits. Together with Cin7’s end-to-end inventory management software, sellers will gain invaluable visibility into their product availability and inventory capital.
Powered by a proprietary AI engine, sellers can forecast demand with unmatched accuracy months in advance, maintaining optimal stock levels and eliminating overages. This allows sellers to make fast, impactful decisions – enabling both short and long term forecasting that translates insight into action. Not only does this help achieve over 99% product availability, it also frees up to 20% of inventory capital and saves valuable time through automated, streamlined operations.
“Inventoro’s AI forecasting and optimization capabilities are a perfect complement to Cin7’s robust inventory management solutions,” said Ajoy Krishnamoorthy, Cin7’s CEO. “The actionable insights and increased visibility into performance provided by the combined capabilities help customers optimize performance across channels and minimize impacts from overstocking and stock outs. By combining Cin7’s inventory management platform and the power of Inventoro’s AI-powered forecasting, the future of inventory intelligence is here.”
“From the moment we first partnered with Cin7, it was clear our companies were aligned in a mission to empower small and medium product sellers and manufacturers. By combining Cin7’s powerful inventory management platform with Inventoro’s advanced AI forecasting and optimization capabilities, we’re first to market with a solution that provides end-to-end visibility and control, reduces waste, and ultimately helps SMB’s thrive,” said Tomas Formanek, Inventoro’s founder and CEO.
This announcement comes at the dawn of a new phase of growth for Cin7, marked by the recent appointments of Ajoy Krishnamoorthy to Chief Executive Officer and Nolan Smith to President and Chief Operating Officer.
About Cin7Cin7 provides Connected Inventory Performance – cloud-based inventory management software that gives growing product businesses an automated and real-time view of the entire inventory lifecycle. Cin7’s products, Core and Omni, natively integrate with over 700+ applications, so business owners can consolidate, streamline, automate, and scale their inventory operation from one place. Founded in 2012, Cin7 has grown into a global force, supporting product sellers in 100+ countries, serving 8,000+ customers and processing over 125 million orders annually.
About InventoroInventoro is revolutionizing the way small and medium-sized businesses manage their inventory. With its cutting-edge algorithmic sales forecasting, businesses can finally achieve optimal stock levels and say goodbye to stock outs and overstock. Inventoro’s system is powered by advanced mathematics and artificial intelligence, which means it can learn and adapt to unique business needs, to achieve unprecedented forecast accuracy. Founded in 2020 as a SaaS service and built upon two decades of technological innovation.
Media ContactLindsay Mahaney [email protected]
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Artificial Intelligence
Potential secures additional $2M to drive AI-powered terrain perception technologies to market
The seed fund extension will underpin innovation programs with global automotive manufacturers as momentum builds toward production-scale deployment.
$2M CAD seed round extensionRound includes returning partners Brightspark Ventures, Build Ventures and NBIF, joined by Farpointe. Existing backers include Marc Benioff’s TIME VenturesFunds will support new and ongoing innovation projects with automotive OEMsTerrain Intelligence, the company’s core technology, solves safety and performance problems both off and on roadFREDERICTON, NB, May 2, 2024 /PRNewswire/ — Potential (Potential Motors Inc), a Canadian automotive technology company developing advanced driver assistance systems for off-road environments, has today announced that it has raised $2M CAD in a successful seed round extension. This builds on two previous seed round commitments, for a total of $8.5M raised since May 2020.
Investors in the extension include returning partners Brightspark Ventures, Build Ventures and NBIF (the New Brunswick Innovation Foundation), with Farpointe joining for the first time. They join existing investors, including Marc Benioff’s TIME Ventures.
The latest funding will be used to drive commercialization of Potential’s AI-powered perception solutions in automotive, powersports, mining and defense sectors, following years of intensive R&D.
Potential has already partnered with a major manufacturer of recreational off-road vehicles (CFMOTO Powersports Inc) and delivered its first innovation project for a global automotive brand. The company has another pilot project in the automotive sector underway in Q2, with further projects at scoping stage.
Potential’s core technology is branded Terrain Intelligence. This software platform uses forward-facing sensors (such as cameras) to interpret terrain shape, incline gradient, surface type, obstacles and more. The platform can deliver multiple outputs, from presenting data to drivers all the way through to self-selecting vehicle control adjustments such as drive mode, suspension and differential settings, torque levels and more.
Unlike today’s driver assistance systems, which rely on reactive technologies, Potential enables proactive control in advance of reaching hazards.
Sam Poirier, CEO at Potential: “Potential’s expertise in off-road terrain, computer vision and AI will make vehicles safer, faster, more agile and more comfortable in extreme environments. Our solutions can improve outcomes on the road too, so our technology could be used in all sorts of vehicles. I’m pleased to welcome back existing partners as well as new investors at this critical milestone in our journey.”
Mark Skapinker, Managing Partner at Brightspark Ventures: “When we first invested in Potential, we were excited by Sam’s vision of a future where AI and terrain perception technologies play key roles in performance, safety and efficiency. By renewing our investment, we’re also renewing our vote of confidence in Sam’s leadership and Potential’s technology.”
Jeff White, CEO at NBIF: “Sam has already built an impressive team and successful pilots; our new funding commitment demonstrates the continued confidence we have in Sam’s vision and Potential’s opportunities.”
About PotentialPotential (Potential Motors Inc.) is an automotive technology company designing the future of advanced driver-assistance systems for off-road and extreme environments, combining computer vision and AI to read the path ahead.
www.potentialmotors.com
Press contact: Jay Nickerson, [email protected]
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