Category: UNCATEGORIZED

19 Jan 2021

Fintech startup Vise brings on Andrew Fong (formerly Dropbox) as CTO

Vise, a fintech firm that focuses on helping financial advisors rather than automating them out of existence, has today announced that its bringing on Andrew Fong as its Chief Technology Officer.

Fong hails from Dropbox, where he served as VP of Infrastructure Engineering. He actually started out as a Site Reliability Engineer at Dropbox back in 2012 climbing the ranks to Engineering Director, and then Senior Director of Engineering – Head of Infrastructure before becoming to vice president.

Before Dropbox, Fong was an engineer at YouTube and Aol.

Vise brought on Fong to scale up its technical team following its most recent fundraise, a $45 million in Series B led by Sequoia Capital. In total, Vise has raised $63 million since launching on the TC Disrupt stage in 2019.

You can check out the video of their demo here.

Vise uses AI to support financial advisors in their relationships with clients, giving them the ability to justify and explain (with data) the reason for making this or that investment, as well as the ability to customize a portfolio quickly.

Top of mind for Fong is scaling up the engineering department from 20 people to 75 by the end of the year, and Fong explained that diversity, equity and inclusion must be front and center in that endeavor.

“Vise is in the early stages of building out its engineering organization,” Fong told TechCrunch. “It’s imperative that we weave in DEI as a first principle to our recruiting at this stage and ensure we are maturing our processes with DEI in mind.”

At Dropbox, Fong started out as a team leader building a team of 40 and by the time he left, led a team of more than 250 people. He explained that he learned a lot during that 8+ year period, and made a lot of mistakes, and was eager to see how that knowledge could be reapplied at a different firm.

“What would it be like to do this again with the knowledge I have now?” asked Fong. “What things would I do differently? How would I improve upon it? How can I actually take that knowledge and leverage it in a way that helps others in the industry or my peers at Vise? Can I provide a perspective that they don’t necessarily have today?”

Fong was first connected with Vise while he was still at Dropbox. He spoke to Vise cofounder Runik Mehrotra on an explanatory call, and remembers feeling like no matter where his path took him, he wanted to stay connected to Mehrotra and Vise.

“This is somebody that just has something about him,” he said of Mehrotra. “There’s just like an ‘it’ factor that made me feel like I wanted to work with him.”

Fong says that recruiting during COVID, with extremely limited face-to-face contact, is one of the biggest challenges ahead for both himself and Vise in general.

19 Jan 2021

Senator: ‘More transparency is needed’ by exam proctoring tech firms

Three of the leading exam proctoring companies are facing calls to be more transparent, amid continued claims of bias and fault by students forced to take remote exams because of the ongoing pandemic.

Exam proctoring tech lets students take remotely invigilated tests from home. Students are told to install their university’s choice of proctoring software, which allows the exam monitor deep access to the student’s computer, including their webcams and microphones, to monitor their activity to spot potential cheating.

But companies like Proctorio, ExamSoft, and ProctorU have faced a barrage of criticism from students who say that their proctoring technology is fraught with problems, including issues of bias — all of which could impact their test results.

Chief among the complaints are that their proctoring software cannot recognize faces with darker skin tones or religious headgear, and discriminates against students with disabilities and those in lower-income areas who may not have the internet speeds to meet the standards of the test-taking tech.

Several U.S. Democratic senators sent Proctorio, ExamSoft, and ProctorU letters in December calling on the companies to explain their technology and policies better. In their responses seen by TechCrunch, the companies rejected claims of discrimination and all said that it’s up to the teachers to decide whether a student has cheated, not the companies themselves.

But lawmakers say that the companies are not transparent enough, and worry teachers could be making decisions about a student’s conduct based on little more than what the technology tells them.

“Proctorio, ExamSoft, and ProctorU claim they don’t have problems with bias, yet alarming reports from students tell a different story,” Sen. Richard Blumenthal (D-CT) told TechCrunch. “These responses from the companies are only the first step in learning more about how they operate, but much more transparency is needed into the systems that have the power to accuse students of cheating. I will work on every fix necessary to ensure students are protected.”

Students across the U.S. have already called on their schools to stop using proctoring software citing privacy and security risks.

We sent the companies several questions. ProctorU’s chief executive Scott McFarland declined to comment citing the holiday weekend. Proctorio and ExamSoft did not respond.

19 Jan 2021

StackPulse announces $28M investment to help developers manage outages

When a system outage happens, chaos can ensue as the team tries to figure out what’s happening and how to fix it. StackPulse, a new startup that wants to help developers manage these crisis situations more efficiently, emerged from stealth today with a $28 million investment.

The round actually breaks down to a previously unannounced $8 million seed investment and a new $20 million Series A. GGV led the A round, while Bessemer Venture Partners led the seed and also participated in the A. Glenn Solomon at GGV and Amit Karp at Bessemer will join the StackPulse board.

Nobody is immune to these outages. We’ve seen incidents from companies as varied as Amazon and Slack in recent months. The biggest companies like Google, Facebook and Amazon employ site reliability engineers and build customized platforms to help remediate these kinds of situations. StackPulse hopes to put this kind of capability within reach of companies, whose only defense is the on-call developers.

Company co-founder and CEO Ofer Smadari says that in the midst of a crisis with signals coming at you from Slack and PagerDuty and other sources, it’s hard to figure out what’s happening. StackPulse is designed to help sort out the details to get you back to equilibrium as quickly as possible.

First off, it helps identify the severity of the incident. Is it a false alarm or something that requires your team’s immediate attention or something that can be put off for a later maintenance cycle. If there is something going wrong that needs to be fixed right now, StackPulse can not only identify the source of the problem, but also help fix it automatically, Smadari explained.

After the incident has been resolved, it can also help with a post mortem to figure out what exactly went wrong by pulling in all of the alert communications and incident data into the platform.

As the company emerges from stealth, it has some early customers and 35 employees based in Portland, Oregon and Tel Aviv. Smadari says that he hopes to have 100 employees by the end of this year. As he builds the organization, he is thinking about how to build a diverse team for a diverse customer base. He believes that people with diverse backgrounds build a better product. He adds that diversity is a top level goal for the company, which already has an HR leader in place to help.

Glenn Solomon from GGV, who will be joining the company board, saw a strong founding team solving a big problem for companies and wanted to invest. “When they described the vision for the product they wanted to build, it made sense to us,” he said.

Customers are impatient with down time and Solomon sees developers on the front line trying to solve these issues. “Performance is more important than ever. When there is downtime, it’s damaging to companies,” he said. He believes StackPulse can help.

19 Jan 2021

UK’s WhiteHat rebrands as Multiverse, raises $44M to build tech apprenticeships in the US

University education is getting more expensive, and at the moment it feels a bit like a petrie dish for infections, but the long-term trends continue to show a dramatic growth in the number of people worldwide getting degrees beyond high school, with one big reason for this being that a college degree generally provides better economic security.

Today, a startup that is exploring a different route for those interested in technology — specifically by way of apprenticeships to bring in and train younger people on the job — is announcing a significant round of growth funding to see if it can provide a credible, scalable alternative to that model.

Multiverse, a UK startup that works with organizations to develop technology-based apprenticeships, and then helps source promising, diverse candidates to fill those roles, has raised $44 million, funding that it will be using to spearhead a move into the US market.

The Series B is being led by General Catalyst (which has been especially active this week with UK startups: it also led a large round yesterday for Bloom & Wild), with GV (formerly known as Google Ventures), Audacious Ventures, Latitude and SemperVirens also participating. Index Ventures and Lightspeed Venture Partners, who first invested in the company in its $16 million Series A in 2020, also participated. Valuation is not being disclosed.

The company was originally co-founded as WhiteHat and is officially rebranding today. Co-founder Euan Blair (who happens to be the son of the former UK prime minister Tony Blair and his accomplished barrister wife Cherie Booth Blair) said the name change was because the original name was a reference to how the startup sought to “hack the system for good.”

However, he added, “The scale has become bigger and more evolved.” The new name is to convey that — as in gaming, which is probably the arena where you might have heard this term before — “anything is possible.”

There are “multiple universes” one can inhabit as a post-18 young adult, Blair continued, and while it’s been assumed that to get into tech, the obvious route was college or university, the bet that Multiverse is making here is that apprenticeships can easily, and widely, become another. “We want to build an outstanding alternative to university and college,” he said.

This is especially important when thinking of how to target more marginalized groups and how this ties up with how tech companies are looking to be more diverse in the future. Blair said that currently over half of the people making their way through Multiverse are people of color, and 57% are women, and the plan is to build tools to make that an even firmer part of its mission. 

The startup sees itself as part-tech company and part-education enterprise. It works with tech companies to open up opportunities for people who have not had any higher education or any training, where fresh high school graduates can come in, learn the ropes of a job while getting paid, and then continue on working their way up the ladder with that knowledge base in place.

This is not just a social enterprise: there is actual money in this area. Blair prices that it charges the companies it works with range by qualification “but are broadly around the $15,000 mark.” (The individuals applying don’t pay anything, and they will eventually also be paid by the companies providing the apprenticeships.)

On the educational front, Multiverse doesn’t just connect people as a recruiter might: it has a team in place to build out what the “curriculum” might be for a particular apprenticeship, and how to deliver and train people with the requisite skills alongside the practice experience of working, and more.

That latter role, of course, has taken on a more poignant dimension in the last year: concepts like remote training and virtual mentorship have very much come into their own at a time when offices are largely standing empty to help reduce the spread of Covid-19.

Regardless of what happens in the year ahead — fingers crossed that vaccinations and other efforts will help us collectively move past where we are right now — many believe that the infrastructure that has been put into place to keep working virtually will continue to be used, which bodes well for a company like Multiverse that is building a business around that, both with technology it creates itself and will bring in from third parties and partners.

Indeed, the ecosystem of companies building tools to deliver educational content, provide training and work collaboratively has really boomed in the pandemic, giving companies like Multiverse a large library of options for how to bring people into new work situations. (Google, which is now an investor in Multiverse, is very much one of the makers of such education tools.)

Apprenticeships are an interesting area for a startup to tackle. Traditionally, it’s a term that would have been associated mainly with skilled labor positions, rather than “knowledge workers.”

But you can argue that with the bigger swing that the globe has seen away from industrial and towards knowledge economies, there is an argument to be made for building more enterprises and opportunities for an ever wider pool of users, rather than expecting everyone to be shoehorned into the models of the last 50 years. (The latter would essentially imply that college is possibly the only way up.)

You might also be fair to claim that Blair’s connections helped him secure funding and open doors with would-be customers, and that might well be the case, but ultimately the startup will live or die by how well it executes on its premise, whether it finds a good way to connect more people, engage them in opportunities, and keep them on board.

This is what really attracted the investors, said Joel Cutler, managing director and co-founder of General Catalyst.

“Euan has a genuine belief that this is important, and when you talk to him, you get a  feeling of manifest destiny,” Cutler said in an interview. In response to the question of family connections, he said that this was precisely the kind of issue that the technology industry should be tackling to fight.

“Of all the industries to break the mold of where you went to school, it should be the tech world that will do that, since it is far more of a meritocracy than others. This is the perfect place to start to break that mold,” he said. “Education will be super valuable but apprenticeships will also be important.” He noted that another company that General Catalyst invests in, Guild Education, is addressing similar opportunities, or rather the gaps in current opportunities, for older people.

19 Jan 2021

Microsoft invests in Cruise in new $2 billion round

Cruise has raised $2 billion in a new equity round that has pushed its valuation up to $30 billion and delivered Microsoft as an investor and partner.

GM, Honda and other institutional investors have also put more capital into Cruise as the autonomous vehicle company inches closer to commercializing its technology.

While Microsoft’s capital is important, the partnership might provide equal and longer term value for Cruise. Under the long-term strategic partnership, Cruise will leverage Azure, Microsoft’s cloud and edge computing platform, to commercialize its autonomous vehicle solutions at scale.

Any autonomous vehicle company aiming to commercialize — meaning bring their tech to the public at scale — needs a robust cloud computing platform. Operating fleets of self-driving vehicles that will shuttle people and even packages generates a massive amount of data, making cloud services one of the bigger costs for an AV company.

Cruise’s partnership with Microsoft aims to provide benefits for both companies. Cruise will be able to lock in lower prices for cloud services and Microsoft will be able to test the some of its bleeding edge systems that can handle workloads needed to bring machine learning and robotics — like autonomous vehicles — to life and at scale.

“Advances in digital technology are redefining every aspect of our work and life, including how we move people and goods,” Microsoft CEO Satya Nadella said in a statement. “As Cruise and GM’s preferred cloud, we will apply the power of Azure to help them scale and make autonomous transportation mainstream.”

The partnership extends to GM as well, according to Tuesday’s announcement. Microsoft will be GM’s preferred public cloud provider to help the automaker accelerate several of it digitization initiatives as well as streamline operations across digital supply chains.

The partnership will not only allow Cruise to accelerate the commercialization of its all-electric, self-driving vehicles, it help “GM realize even more benefits from cloud computing as we launch 30 new electric vehicles globally by 2025 and create new businesses and services to drive growth, GM Chairman and CEO Mary Barra said.

19 Jan 2021

ETH spin-off LatticeFlow raises $2.8M to help build trustworthy AI systems

LatticeFlow, an AI startup that was spun out of ETH Zurich in 2020, today announced that it has raised a $2.8 million seed funding round led by Swiss deep-tech fund btov and Global Founders Capital, which previously backed the likes of Revolut, Slack and Zalando.

The general idea behind LatticeFlow is to build tools that help AI teams build and deploy AI models that are safe, reliable and trustworthy. The problem today, the team argues, is that models get very good at finding the right statistical patterns to hit a given benchmark. That makes them inflexible, though, since these models were optimized for accuracy in a lab setting, not for robustness in the real world.

“One of the most commonly used paradigms for evaluating machine learning models is just aggregate metrics, like accuracy. And, of course, this is a super coarse representation of how good a model really is,” Pavol Bielik, the company’s CTO explained. “What we want to do is, we provide systematic ways of monitoring models, assessing their reliability across different relevant data slices and then also provide tools for improving these models.”

Image Credits: LatticeFlow

Building these kinds of models that are more flexible yet still provide robust results will take a new arsenal of tools, though, as well as the right team with deep expertise in these areas. Clearly, though, this is a founding team with the right background. In addition to CTO Bielik, the founding team includes Petar Tsankov, the company’s CEO and former senior researcher and lecturer at ETH Zurich, as well as ETH professors Martin Vechev, who leads the Secure, Reliable and Intelligence Systems lab at ETH, and Andreas Krause, who leads ETH’s Learning & Adaptive Systems lab. Tsankov’s last startup, DeepCode, was acquired by cybersecurity firm Snyk in 2020.

It’s also worth noting that Vechev, who previously co-founded ETH spin-off ChainSecurity, and his group at ETH previously developed ERAN, a verifier for large deep learning models with millions of parameters, that last year won the first competition for certifying deep neural networks. While the team was already looking at creating a company before winning this competition, Vechev noted that gave the team the confirmation that it was on the right path.

Image Credits: LatticeFlow

“We want to solve the main AI problem, which is making AI usable. This is the overarching goal,” Vechev told me. “[…] I don’t think you can actually found the company just purely based on the certification work. I think the kinds of skills that people have in the company, my group, Andreas [Krause]’s group, they all complement each other and cover a huge space, which I think is very, very unique. I don’t know of other companies who have covered this range of skills in these pressing points and have done groundbreaking work before.”

LatticeWorks already has a set of pilot customers who are trialing its tools. These include Swiss railways (SBB), which is using it to build a tool for automatic rail inspections, Germany’s Federal Cyber Security Bureau and the U.S. Army. The team is also working with other large enterprises that are using its tools to improve their computer vision models.

“Machine Learning (ML) is one of the core topics at SBB, as we see a huge potential in its application for an improved, intelligent and automated monitoring of our railway infrastructure,” said Dr. Ilir Fetai and Andre Roger, the leads of SBB’s AI team. “The project on robust and reliable AI with LatticeFlow, ETH, and Siemens has a crucial role in enabling us to fully exploit the advantages of using ML.”

For now, LatticeFlow remains in early access. The team plans to use the funding to accelerate its product development and bring on new customers. The team also plans to build out a presence in the U.S. in the near future.

19 Jan 2021

Conversa Health expands its Series B round to $20M

Portland, Oregon-based Conversa Health, a virtual care and communication platform that helps health organizations stay in touch with their patients and customers, today announced that it has expanded its Series B funding round from $12 million to $20 million. The round is still co-led by Builders VC and Northwell Health’s venture arm Northwell Ventures. Additional investors include UH Ventures, the venture arm of University Hospitals and VC firms P5 Health Ventures, Epic Ventures, StartUp Health and Nassau Street Ventures, as well Genesis Merchant Capital and J-Ventures, which came in as new investors in this expanded round.

“There’s been a recognition, especially with COVID, that the need for automated and virtual — which are two big trends in healthcare — were on the horizon but now the horizon has been pulled in because of COVID and the healthcare system recognizes that that’s going to be required to be able to allow access for patients and improve both the experience for patients and providers, and get better outcomes and do it at lower cost,” Conversa CEO Murray Brozinsky told me.

Brozinsky actually believes that within the next decade, 80% of care will be done remotely. This will allow for more personalized and evidence-based care, but it will also require investments in automation.

“Conversa links providers’ EHRs and other patient data to best-of-breed interactive digital care pathways and clinical analytics engine to automate care management 24×7. This improves care plan adherence pre and post visit, reducing costs and generating better outcomes for patients,” said Builders VC partner and Conversa board member Mark Goldstein. “Conversa’s enterprise platform and library of digital pathways are used by providers to care for patients across their populations, as opposed to one-off point solutions. It fills an enormous gap in the market.”

Given the pandemic, it’s maybe no surprise that Conversa’s business also boomed. The number of customers the company its services has grown fourfold while its financial metrics are up 6x because a lot of its larger companies have expanded their use of the platform.

The team decided to expand the existing Series B round to help it capitalize on this momentum and to bring on more engineers in order to scale the platform. Brozinsky believes that the need for a platform like Conversa’s will remain after the pandemic ends. In addition, the company is also already rolling out support for vaccination programs in its service to help educate consumers but also help in monitoring efforts after people get their shots.

“Everything we’re hearing from health systems, they recognize that they need to be prepared for this to happen again, they still need to care for the core demographics that haven’t changed — this aging population — with an acute shortage of healthcare workers,” Brozinsky said. “So the need for the systems and these platforms is going to be more acute and the investment is not so much an additional cost but an enormous return.”

19 Jan 2021

K Health expands into virtual childcare and raises $132 million at a $1.5 billion valuation

K Health, the virtual health care provider that uses machine learning to lower the cost of care by providing the bulk of the company’s health assessments, is launching new tools for childcare on the heels of raising cash that values the company at $1.5 billion.

The $132 million round raised in December will help the company expand and help pay for upgrades including an integration with most electronic health records — an integration that’s expected by the second quarter.

Throughout 2020 K Health has leveraged its position operating at the intersection of machine learning and consumer healthcare to raised $222 million in a single year.

This appetite from investors shows how large the opportunity is in consumer healthcare as companies look to use technology to make care more affordable.

For K Health, that means a monthly subscription to its service of $9 for unlimited access to the service and physicians on the platform, as well as a $19 per-month virtual mental health offering and a $19 fee for a one-time urgent care consultation.

To patients and investors the pitch is that the data K Health has managed to acquire through partnerships with organizations like the Israel health maintenance organization Maccabi Healthcare Services, which gave up decades of anonymized data on patients and health outcomes to train K Health’s predictive algorithm, can assess patients and aid the in diagnoses for the company’s doctors.

In theory that means the company’s service essentially acts as a virtual primary care physician, holding a wealth of patient information that, when taken together, might be able to spot underlying medical conditions faster or provide a more holistic view into patient care.

For pharmaceutical companies that could mean insights into population health that could be potentially profitable avenues for drug discovery.

In practice, patients get what they pay for.

The company’s mental health offering uses medical doctors who are not licensed psychiatrists to perform their evaluations and assessments, according to one provider on the platform, which can lead to interactions with untrained physicians that can cause more harm than good.

While company chief executive Allon Bloch is likely correct in his assessment that most services can be performed remotely (Bloch puts the figure at 90%), they should be performed remotely by professionals who have the necessary training.

There are limits to how much heavy lifting an algorithm or a generalist should do when it comes to healthcare, and it appears that K Health wants to push those limits.

“Drug referrals, acute issues, prevention issues, most of those can be done remotely,” Bloch said. “There’s an opportunity to do much better and potentially cheaper. 

K Health has already seen hundreds of thousands of patients either through its urgent care offering or its subscription service and generated tens of millions in revenue in 2020, according to Bloch. He declined to disclose how many patients used the urgent care service vs. the monthly subscription offering.

Telemedicine companies, like other companies providing services remotely, have thrived during the pandemic. Teladoc and Amwell, two of the early pioneers in virtual medicine have seen their share prices soar. Companies like Hims, that provide prescriptions for elective conditions that aren’t necessarily covered by health, special purpose acquisition companies at valuations of $1.6 billion.

Backing K Health are a group of investors led by GGV Capital and Valor Equity Partners. Kaiser Permanente’s pension fund and the investment offices of the owners of 3G Capital (the Brazilian investment firm that owns Burger King and Kraft Heinz), along with 14W, Max Ventures, Pico Partners, Marcy Venture Partners, Primary Venture Partners and BoxGroup, also participated in the round. 

Organizations working with the company include Maccabi Healthcare; the Mayo Clinic, which is investigating virtual care models with the company; and Anthem, which has white labeled the K Health service and provides it to some of the insurer’s millions of members.

19 Jan 2021

PPRO nabs $180M at a $1B+ valuation to bring together the fragmented world of payments

The pandemic has hastened a shift of most commerce becoming e-commerce in the last year, and that has brought a new focus on startups that are helping to enable that process.

In the latest development, PPRO, a London-based startup that has built a platform to make it easier for marketplaces, payment providers and other e-commerce players to enable localised payments — that is, make and take payments in whatever form local customers prefer to use, which extend well beyond basic payment cards — has closed a round of $180 million, funding that catapults PPRO’s valuation to over $1 billion.

PPRO (pronounced “P-pro”, as in payments professionals) plans to use the funding to continue expanding in newer markets.

Simon Black, PPRO’s CEO, said in an interview that two particular areas of focus in the coming year will be more activity in Asian countries like Singapore and Indonesia, as well as Latin America, where the company acquired a local player, allpago, back in 2019.

In both cases, the opportunity comes in the form of high growth stemming from more transactions moving online, as well as the chaos that is the fragmented payments market.

The capital is coming from a group of investors that includes Eurazeo Growth, Sprints Capital, and Wellington Management. It comes on the heels of a $50 million round the company raised last August from Sprints, along with Citi and HPE Growth; and a further $50 million it picked up in 2018 led by strategic investor PayPal.

PayPal, alongside Citi, Mastercard Payment Gateway Services, Mollie, and Worldpay are among PPRO’s 100 large global customers, which use the company’s APIs for a variety of functions, including localised gateway, processing and merchant acquirer services.

The flood of activity coming from consumers and businesses buying more online — a by-product of the pandemic leading to many businesses shutting down physical operations for the moment — has seen the company double transaction volumes between Q4 2020 and the same quarter in 2019.

PPRO is not the only company to be targeting that opportunity.

The fragmentation of financial services overall — where realistically, there is only handful of types of transactions that might be made (usually: deposits, payments, credit), but quite literally thousands of permutations and methods to make them, with specific markets and their populations typically coalescing around their own localised selections.

That has led to the rise of a number of companies providing what has come to be called “banking as a service” or “fintech as a service,” where a tech provider stitches together in the background a number of services, sometimes thousands, and makes it easier for their customers, by way of an API, to plug those services in for their own customers to use more easily, most often connected to a range of other services provided to them like money management.

Others in this wider space that includes payments and other fintech services include the likes of Rapyd, Mambu, Thought Machine, Temenos, Edera, Adyen, Stripe and newer players like Unit, with many of these raising large amounts of money in recent times in particular to double down on what is currently a rapidly expanding market.

The unique aspect of PPRO is that it was an early mover in the area of identifying the conundrum of fragmentation in payments for companies that operate in more than one country or region, and that it has continued to play only in payments, without a jump to adjacent services.

“We’re ultra focused because the local payments problem is actually growing,” said Black, who believes that “the disconnect between what a consumer wants to use, but also their appetite and the proliferation of payment options” all contribute to more complexity (with the trade-off being more choices for consumers, but equally possibly too much choice?).

As Black sees it, the company’s focus on payments has given it more momentum to build better tech specifically to address that globally.

“PPRO is building solutions for performance in industrial strength. It’s growing rapidly because there are no other players that are truly global. We are globalizing to support the needs of customers who want to nationalize, so we have an opportunity to focus on payments, to be a strategic outsource partner.”

This doesn’t mean that there isn’t room for product expansion: alongside payments, Black highlighted product compliance and providing better analytics as two areas where the company is already active and will be doing more for customers.

“Where we partner and provide value is in anticipating changes in consumer demand,” he noted. “We monitor how customers are using those methods and — whether you are are service provider or furniture or travel company — determine which are the best relevant payment methods.” Services like open banking, tools for banks to enable allowing payments directly from customers’ accounts, or buy-now-pay-later payments, are examples, he said, of areas that speak of further opportunities.

“We are delighted to support Simon and the team at PPRO as they continue to develop best-in-class local payment solutions,” commented Nathalie Kornhoff-Brüls, Managing Director at Eurazeo Growth, in a statement. “All signs for the future indicate that digital commerce, and even more so cross-border commerce, will continue to grow exponentially while innovation in payment methods remains strong. As a result, facilitating local payments is becoming increasingly complex. Payment service providers, however, no longer have a choice as merchants and their customers are pushing for the adoption.”

“PPRO has proven to be the go-to problem solver in this area, providing the local payments technology and expertise that the world’s biggest payment players rely on. Our investment reflects our confidence in the growth potential for PPRO and we’re excited to support PPRO and its team on their journey,” added Voria Fattahi, a partner at Sprints Capital, in a separate statement.

19 Jan 2021

Calling Athens VCs: Be featured in The Great TechCrunch Survey of European VC

TechCrunch is embarking on a major project to survey the venture capital investors of Europe, and their cities.

Our <a href=”https://forms.gle/k4Ji2Ch7zdrn7o2p6”>survey of VCs in Athens, Greece will capture how the country is faring, and what changes are being wrought amongst investors by the coronavirus pandemic.

We’d like to know how Greece’s startup scene is evolving, how the tech sector is being impacted by COVID-19, and, generally, how your thinking will evolve from here.

Our survey will only be about investors, and only the contributions of VC investors will be included. More than one partner is welcome to fill out the survey. (Please note, if you have filled the survey out already, there is no need to do it again).

The shortlist of questions will require only brief responses, but the more you can add, the better.

You can fill out the survey here.

Obviously, investors who contribute will be featured in the final surveys, with links to their companies and profiles.

What kinds of things do we want to know? Questions include: Which trends are you most excited by? What startup do you wish someone would create? Where are the overlooked opportunities? What are you looking for in your next investment, in general? How is your local ecosystem going? And how has COVID-19 impacted your investment strategy?

This survey is part of a broader series of surveys we’re doing to help founders find the right investors.

https://techcrunch.com/extra-crunch/investor-surveys/

For example, here is the recent survey of London.

You are not in Greece, but would like to take part? That’s fine! Any European VC investor can STILL fill out the survey, as we probably will be putting a call out to your country next anyway! And we will use the data for future surveys on vertical topics.

The survey is covering almost every country on in the Union for the Mediterranean, so just look for your country and city on the survey and please participate (if you’re a venture capital investor).

Thank you for participating. If you have questions you can email mike@techcrunch.com

(Please note: Filling out the survey is not a guarantee of inclusion in the final published piece).