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An Indian Internet entrepreneur, computer programmer, founded Several Internet Based Companies . CEO & Founder : HalfBrain, Chief Editor : THB2.

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$1.9 billion big data company Talend is acquiring a Philadelphia-based startup for $60 million to give it leverage in the cloud wars

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$1.9 billion big data company Talend is acquiring a Philadelphia-based startup for $60 million to give it leverage in the cloud wars
Rosalie Chan 12h
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Talend, a $1.9 billion big data company, announced Wednesday it plans to acquire the data startup Stitch for $60 million.
Talend believes this acquisition — its largest to date — will speed up its cloud momentum, as Stitch makes it easier for users to move data.
Talend also believes this acquisition will make it a stronger partner to data warehousing services from the likes of AWS, Azure, Google, and Snowflake.
Big data company Talend announced Wednesday that it will acquire the two-year-old data startup Stitch for $60 million in its largest acquisition to date, in hopes that this acquisition will help it land new cloud customers.

“It brings an exciting new capability to us,” Mike Tuchen, CEO of Talend, told Business Insider. “It has really lined up with how customers are choosing to buy in today’s cloud-central world.”

Stitch, based in Philadelphia, makes it easy for customers to move data to cloud data warehouse platforms. Often, small businesses don’t have the bandwidth to quickly load this data, or they don’t have the expertise to do it, as it can be a complicated task and may require the help of data integration specialists.

“We’re a world right now where every company is trying to figure out how they can unlock the power of their data,” Tuchen said. “Until they solve those types of problems, they can’t unlock the power of their data.”

Essentially, Stitch aims to provide a simple, point-and-click tool that lets any of its users easily move data to cloud warehouses. Under Talend, Stitch will be rebranded as the Stitch Data Loader.

The origins of Stitch go back to another company called RJMetrics, which sold itself to ecommerce company Magento in 2016. At the time that acquisition was announced, RJMetrics announced that it would rebrand its Pipeline tool as Stitch and spin it out as its own company. Earlier this year, Adobe bought Magento for $1.7 billion.

Read more:Big data tech company Talend sees its stock soar over 50% for its IPO

This acquisition will give Talend leverage in the cloud wars and make it a stronger partner to data warehouses like AWS, Azure, Google, and Snowflake, the two companies say.

“Talend is an ideal fit for Stitch. Their products complement ours, and they share a similar culture and market vision,” Jake Stein, co-founder and CEO of Stitch said in a statement.

“The move to the cloud and data-driven business is changing the integration market, bringing new users with different needs. With the combination of Talend and Stitch, we will become the only vendor that can we believe serves all levels of the market and all users of cloud analytics.”

When Talend first went public in 2016, its stock soared over 50 percent in the first day of trading. It is now valued at $1.9 billion.

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Madrona Venture Labs picks clinical management startup Invio as first company in new accelerator

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Invio, a Seattle startup that helps speed up clinical trials for biotech and pharmaceutical companies, announced this week that it is the first company to join the new accelerator created by Madrona Venture Labs, the “startup studio” backed by Madrona Venture Group.

Founded in 2016, Invio develops FDA-compliant cloud-based software that automates clinical trial workflows, replacing the traditional paper and binder method of recording data. The company is working with three U.S. research sites and plans to add another 20 clients in the coming months.

Invio has raised more than $800,000 from Seattle Angel Conference, Pipeline Angels, Techstars, and Madrona Venture Labs. Invio was also part of the Cedars-Sinai Techstars Healthcare accelerator in late 2017, and won Episode 5 of GeekWire’s Elevator Pitch show earlier this year. The 4-person company has three co-founders: Dema Poppa, CEO; Brian Caruso, CTO; and Cassie Wallender, CPO.

 

Poppa helped come up with the idea for Invio after he was running a clinical trial at 40 different hospitals for another Seattle-area company. He had to fly team members to each hospital every six weeks to review data in 3-ring binders.

Invio aims to make that process more efficient.

“We have a vision for not just digital and remote trial management, but a mission to automate the busy work out of clinical trials,” said Wallender, who pitched at the GeekWire Summit last month. “Trials are offering us the best scientific advances humanity can muster — they should be supported by the latest and greatest technology in machine learning and AI to drive not just efficiencies like cost and time savings, but also patient safety.”

Launched in 2014, Madrona Venture Labs takes ideas and turns them into startups by way of recruiting, product development, financial investment, and more. Earlier this year, it announced the 3-month accelerator, which will mimic the studio but with a focus on already-established teams that align with its core focus on machine learning and artificial intelligence.

 

Mike Fridgen, CEO of Madrona Venture Labs, said his team has picked two other companies for the accelerator, in addition to Invio. He said there were more 200 applications.

“Invio’s mission to revolutionize the clinical trials process by automating workflows and by providing intelligent insights through data and machine learning was a great fit,” he said. “And, by doing this, Invio improves the safety of trials and decreases the time to market for important life-saving treatments. We believe in the founding team and the impact their product will have on patients.”

 

Accelerator companies receive a $100,000 investment and office space at Create33, the new “founder center” underneath Madrona Venture Group’s downtown Seattle office where Labs is based. There will be two cohorts per year. Labs is accepting applications for another set of companies that will start early next year.

 

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Windows is Offering Global HQ for a New Technology Start-up Company

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