Year: 2020

08 Dec 2020

AWS announces SageMaker Clarify to help reduce bias in machine learning models

As companies rely increasingly on machine learning models to run their businesses, it’s imperative to include anti-bias measures to ensure these models are not making false or misleading assumptions. Today at AWS re:Invent, AWS introduced Amazon SageMaker Clarify to help reduce bias in machine learning models.

“We are launching Amazon SageMaker Clarify. And what that does is it allows you to have insight into your data and models throughout your machine learning lifecycle,” Bratin Saha, Amazon VP and general manager of machine learning told TechCrunch.

He says that it is designed to analyze the data for bias before you start data prep, so you can find these kinds of problems before you even start building your model.

“Once I have my training data set, I can [look at things like if I have] an equal number of various classes, like do I have equal numbers of males and females or do I have equal numbers of other kinds of classes, and we have a set of several metrics that you can use for the statistical analysis so you get real insight into easier data set balance,” Saha explained.

After you build your model, you can run SageMaker Clarify again to look for similar factors that might have crept into your model as you built it. “So you start off by doing statistical bias analysis on your data, and then post training you can again do analysis on the model,” he said.

There are multiple types of bias that can enter a model due to the background of the data scientists building the model, the nature of the data and how they data scientists interpret that data through the model they built. While this can be problematic in general it can also lead to racial stereotypes being extended to algorithms. As an example, facial recognition systems have proven quite accurate at identifying white faces, but much less so when it comes to recognizing people of color.

It may be difficult to identify these kinds of biases with software as it often has to do with team makeup and other factors outside the purview of a software analysis tool, but Saha says they are trying to make that software approach as comprehensive as possible.

“If you look at SageMaker Clarify it gives you data bias analysis, it gives you model bias analysis, it gives you model explainability it gives you poor inference explainability it gives you a global explainability,” Saha said.

Saha says that Amazon is aware of the bias problem and that is why it created this tool to help, but he recognizes that this tool alone won’t eliminate all of the bias issues that can crop up in machine learning models, and they offer other ways to help too.

“We are also working with our customers in various ways. So we have documentation, best practices, and we point our customers to how to be able to architect their systems and work with the system so they get the desired results,” he said.

SageMaker Clarify is available starting to day in multiple regions.

08 Dec 2020

Calm raises $75M more at $2B valuation

Calm, a well-known meditation app, has raised new capital at a valuation of $2 billion. The round was anticipated after the company was reported to be hunting for up to $150 million at a valuation of $2.2 billion; perhaps Calm will follow in the steps of Robinhood and add a second tranche to the round in time.

Prior investor Lightspeed Venture Partners led the investment, which also saw participation from Insight, TPG and Salesforce CEO and new Slack owner Marc Benioff, among others.

That Calm was able to secure more capital is not surprising. The company has a history of quick revenue growth, and is reportedly profitable, to boot. And the investment comes after mental health-focused startups as a category have performed well from a venture capital perspective.

Calm and rival service Headspace have now raised a combined $434 million according to Crunchbase data, underscoring how attractive their models have proved to venture capitalists. According to a Bloomberg interview, Calm is considering acquiring smaller companies in the wake of its new capital event.

The startups sells a consumer service for around $70 per year, or $15 per month. And the startup has built out a corporate arm, “Calm for Business,” that likely brings revenue stability that augments its consumer efforts.

As part of a release concerning today’s news, Calm detailed a number of nearly useful growth metrics. The service has over 100 million downloads (meaningless sans more incremental results), for example, and 4 million paying users (we asked if that data was inclusive of any Calm for Business customers, a question Calm did not answer).

Other TechCrunch queries regarding the company’s economics, revenue growth and performance compared to its pre-COVID plan also went unanswered.

Regardless, Calm now has a refreshed war chest heading into 2021 and a plan to go hunting. That should generate a headline or two.

08 Dec 2020

Agricultural biotech startup Boost Biomes adds a strategic investor in Japan’s Universal Materials Incubator

Boost Biomes, the Y Combinator-backed developer of microbiome-based bio-fungicides and bio-pesticides for agricultural applications, has added $2 million in funding and picked up a new strategic investor in Japan’s Universal Materials Incubator.

To date, Boost Biomes has raised over $7 million in financing to support the development of new products like its biofungicide developed from the micro-organisms that live in the soil in a symbiotic relationship with the plants.

The work that Boost does is primarily on understanding the interactions between microbes and plants in the soil. “The goal is to be  the discovery engine and develop new microbial products for use in food and agriculture,” said Boost chief executive and co-founder Jamie Bacher.

The commitment from Japan’s Universal Materials Incubator expands on a $5 million institutional round led by another strategic partner, Yara International, a global crop nutrition company and venture investors like Viking Global Investors and Y Combinator.

Boost hopes to tackle issues in agriculture like spoilage, bacterial contamination and pathogen infrestations, as well as addressing diseases that can affect plant health directly.

Boost is already working with an undisclosed biomanufacturing partner to develop its biofungicide.

UMI’s decision to invest in Boost comes from our evaluation of their team, technology, and the associated market opportunities.  We believe that Boost’s platform generates a unique data set that can be exploited for far superior products with many diverse microbiome applications in food and agriculture,” said Yota Hayama, an investor at UMI, in a statement. “These are critical areas to achieve food security and promote sustainable agriculture. We also expect Boost’s huge potential on other areas where microbiomes are utilized.”

 

08 Dec 2020

Snap announces $3.5M fund directed toward AR Lens creation

Snap today announced a new 2021 fund of $3.5 million that will be directed toward supporting Snapchat Lens creators and developers who are using the company’s Lens Studio tool to explore the use of AR technologies. The news kicked off Snap’s multi-day virtual event, Lens Fest, where it also announced an upgraded version of its Lens Studio software and revealed that Lenses made by the Snapchat community have now been viewed over 1 trillion times.

Snapchat’s Lenses have become a huge part of the app’s overall experience, especially now that development has been opened up to the wider Snapchat community. Today, Snap says there are tens of thousands of Lens Creators worldwide who have now made over 1.5 million Lenses to date.

Meanwhile, over 180 million people now interact with a Snapchat Lens every day — that’s up from just 70 million daily active users of Lenses when the Lens Explorer section first launched in the app.

The company wants to further invest in these community-made Lenses because they’re now driving the majority of the growth in Lens views among Snapchat users, where the top Lenses can climb to billions of views.

The new fund will build from Snapchat’s existing Creator Residency Program, announced at the Snap Partner Summit, which had allowed developers, creators and artists to apply for funding to make their Lenses. That program was focused on using technologies like SnapML, while two additional residency programs invested in areas like games, education and storytelling.

Snap says it will offer more details about how creators can tap into the new AR-focused $3.5 million fund sometime early next year.

Image Credits: Snap

In addition to the fund news, Snap revealed the update to Lens Studio (ver. 3.3), which adds new creator tools and workflows.

This includes a feature called My Lenses 2.0 for helping creators search and manage their own Lenses with a new tool. This lets them manage their Lenses in web browsers outside of the Lens Studio app, toggle between personal and sponsored Lens accounts, view their Lens status, set Lens visibility, as well as add tags, Scan Triggers, and Preview Videos.

The tool also introduces visual scripting which lets creators build complex logic for custom interactivity in their Lenses without coding. Other changes include improvements to compressing textures inside Lens Studio to help Lenses load faster and use less RAM; an updated Logger that will now group, filter and search messages; and a new Building Blocks feature that offers downloadable assets and helper scripts that help creators prototype, refine and add features to their Lens experiences.

Image Credits: Snap

Plus, the new Lens Studio adds several new templates, including a face morph templates that turn faces into 3D characters; a configuration template that uses UI widgets to create adjustable Lenses for shopping and try-on experiences; and a Tween template for building games and interactive experiences.

The Lens Fest virtual event will continue over the next three days, with sessions that focus on various technologies, like AR, Machine Learning, and LiDAR, as well as those about making Lenses successful, and other tips and tricks.

08 Dec 2020

Thumbtack acquires home management startup Setter

Thumbtack, a marketplace where you can hire local professionals for home improvement and other services, is announcing that it has acquired Setter.

Founded in 2016, Setter provides its customers with video home checkups conducted by experts, then offers personalized plans for how to address any issues. In a blog post, Thumbtack CEO Marco Zappacosta said that by acquiring the startup, his company will be able to offer those same consultations, which in turn could lead to recommendations for different Thumbtack services.

“This is an enormous step for Thumbtack,” Zappacosta wrote. “We won’t just be the platform homeowners turn to when a pipe breaks. We’ll be the only app any homeowner needs for the care and maintenance of their home. For our pros, this means there will be more projects than ever on our platform.”

In response to emailed questions, Zappacosta told me that Thumbtack will “likely” offer both free and paid home consultations: “Our goal is to get this in the hands of as many people as possible and to give homeowners peace of mind when it comes to home maintenance.”

He also said the entire Setter team will be joining Thumbtack, giving the company a presence in Toronto.

“Homeownership is hard,” said Setter co-founder and President David Steckel in a statement. “Together with Thumbtack, we can now give our homeowners both a game plan and a way to tackle their to dos all on one platform.”

The financial terms of the acquisition were not disclosed. According to Crunchbase, Setter raised a total of $12 million from investors including Sequoia Capital and NFX.

Thumbtack laid off 250 employees at the end of March, after the company saw big declines in its major markets. Since then, however, Zappacosta said there’s been “a renewed focus on the home and an acceleration of digital adoption.”

“In this new era of hyperfocus on the home, we are seeing permanent changes in consumer behavior,” he added. “People are investing in their most important asset, their home.”

08 Dec 2020

Thumbtack acquires home management startup Setter

Thumbtack, a marketplace where you can hire local professionals for home improvement and other services, is announcing that it has acquired Setter.

Founded in 2016, Setter provides its customers with video home checkups conducted by experts, then offers personalized plans for how to address any issues. In a blog post, Thumbtack CEO Marco Zappacosta said that by acquiring the startup, his company will be able to offer those same consultations, which in turn could lead to recommendations for different Thumbtack services.

“This is an enormous step for Thumbtack,” Zappacosta wrote. “We won’t just be the platform homeowners turn to when a pipe breaks. We’ll be the only app any homeowner needs for the care and maintenance of their home. For our pros, this means there will be more projects than ever on our platform.”

In response to emailed questions, Zappacosta told me that Thumbtack will “likely” offer both free and paid home consultations: “Our goal is to get this in the hands of as many people as possible and to give homeowners peace of mind when it comes to home maintenance.”

He also said the entire Setter team will be joining Thumbtack, giving the company a presence in Toronto.

“Homeownership is hard,” said Setter co-founder and President David Steckel in a statement. “Together with Thumbtack, we can now give our homeowners both a game plan and a way to tackle their to dos all on one platform.”

The financial terms of the acquisition were not disclosed. According to Crunchbase, Setter raised a total of $12 million from investors including Sequoia Capital and NFX.

Thumbtack laid off 250 employees at the end of March, after the company saw big declines in its major markets. Since then, however, Zappacosta said there’s been “a renewed focus on the home and an acceleration of digital adoption.”

“In this new era of hyperfocus on the home, we are seeing permanent changes in consumer behavior,” he added. “People are investing in their most important asset, their home.”

08 Dec 2020

Is 2020 bringing more edtech rounds than ever, or does it simply feel that way?

Venture capital activity is high at the moment, making it difficult to keep up with the influx of new rounds that are being announced.

Our cup runneth over, and I would much rather be busy than bored, but not all sectors are as busy as others. We’re not drowning in consumer social rounds, for example. We are, however, seemingly suffering from a deluge of edtech investments.


The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.


Happily for the TechCrunch crew, Natasha Mascarenhas has become our resident expert on the sector, covering it week in, and week out. But even though it’s her beat, I couldn’t help but wonder this morning upon yet another large edtech round coming across the wires, just what is going on in the sector in aggregate?

I had to know. So, I’ve done a little digging into Crunchbase data, parsed through some other information and have something approaching an idea. My goal is to help us both understand if there are more edtech rounds than ever being announced, or if it simply seems that way.

Into the breach!

Edtech VC activity

The best way to start examining at a sector is to take its aggregate performance data and cut it into smaller bits. Companies do this with quarterly results, for example, an utterly arbitrary period of time to report on that is also very useful.

To get a handle on edtech in 2020, I went a bit more caveman and decided to look at the sector’s funding totals in 2020 by merely comparing the first and second half of the year.

Per Crunchbase’s “edtech” category, here’s what that data looks like:

08 Dec 2020

Is 2020 bringing more edtech rounds than ever, or does it simply feel that way?

Venture capital activity is high at the moment, making it difficult to keep up with the influx of new rounds that are being announced.

Our cup runneth over, and I would much rather be busy than bored, but not all sectors are as busy as others. We’re not drowning in consumer social rounds, for example. We are, however, seemingly suffering from a deluge of edtech investments.


The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.


Happily for the TechCrunch crew, Natasha Mascarenhas has become our resident expert on the sector, covering it week in, and week out. But even though it’s her beat, I couldn’t help but wonder this morning upon yet another large edtech round coming across the wires, just what is going on in the sector in aggregate?

I had to know. So, I’ve done a little digging into Crunchbase data, parsed through some other information and have something approaching an idea. My goal is to help us both understand if there are more edtech rounds than ever being announced, or if it simply seems that way.

Into the breach!

Edtech VC activity

The best way to start examining at a sector is to take its aggregate performance data and cut it into smaller bits. Companies do this with quarterly results, for example, an utterly arbitrary period of time to report on that is also very useful.

To get a handle on edtech in 2020, I went a bit more caveman and decided to look at the sector’s funding totals in 2020 by merely comparing the first and second half of the year.

Per Crunchbase’s “edtech” category, here’s what that data looks like:

08 Dec 2020

Extra Crunch Live: Join GC’s Peter Boyce and Katherine Boyle for a live Q&A today at 4pm ET/1pm PT

It’s a special day; we’re hosting the year’s final episode of Extra Crunch Live with General Catalyst’s Peter Boyce and Katherine Boyle at 4pm ET/1pm PT.

Extra Crunch members can join the live conversation (details below) or catch it on demand. Questions from the audience are not just allowed, they’re highly encouraged, so if you’re not yet an Extra Crunch member, sign up here and join the fun!

General Catalyst is widely recognized as one of the top venture capital firms, with portfolio companies that include Snap, Kayak, Airbnb, Stripe, HubSpot and GitLab.

Boyce has been with General Catalyst since 2013, leading investments in companies like Ro, Macro, towerIQ and Atom. He also supported some big deals, including investments in Giphy, Jet.com and Circle. He also co-founded Rough Draft Ventures, an investment arm of General Catalyst focused on funding first-time CEOs out of university.

Boyle was previously a business reporter at The Washington Post before joining General Catalyst, which gives her a unique perspective on the entrepreneurial landscape. She’s invested in several companies, including AirMap, Origin and Nova Credit and has joined us for previous events to lay out some advice for startups navigating governmental rules.

We’re amped to discuss which opportunities are exciting them these days, how tech, innovation and venture has changed amid the pandemic, what they look for in a pitch, and much, much more.

You really won’t want to miss it.

Oh, and if this is of interest, I highly suggest you check out our library of ECL episodes right here. We’ve spoken to big names like Roelof Botha, Jason Green, Alexa Von Tobel, Aileen Lee, Charles Hudson and many others.

Catch the details for today’s call below.

Event Details

08 Dec 2020

Chicago’s ShoppingGives gets served a seed round from Serena Williams’ VC firm, Serena Ventures

ShoppingGives, a Chicago-based startup pitching retailers a service that can integrate non-profit donations into their sales and shopping platforms, has raised an undisclosed amount from Serena Williams’ venture capital firm, Serena Ventures, the company said. 

ShoppingGives allows retailers to offer a donation on behalf of a shopper to any of over 1.5 million nonprofits that are on its list — all without leaving the retailer’s website.

The company said that retailers can use the donation data to create a more authentic and personalized engagement with customers based on the causes they support.

“ShoppingGives aligned with my values of investing in businesses and entrepreneurs who are making a difference. By creating opportunities to grow social impact with a seamless approach for retailers and brands, ShoppingGives is charting the course for all businesses to stand forth as agents of change in our society,”said Williams in a statement. 

The company’s technology helps retailers manage and report donations and is already recommended by Shopify as one of a collection of apps for merchants setting up their online stores. Its service integrates with ecommerce content management systems and is already a partner for the PayPal giving fund.

ShoppingGives has already donated to over 6,000 non-profit organizations selected by customers, according to the company. Brands like Kenneth Cole, Natori, White + Warren, Margaux, Solstice Sunglasses, Tomboyx, Fresh Clean Tees, Blind Barber, Huron, and Neighborhood Goods use the service already. 

Image Credit: ShoppingGives