THE BLOG

15
Apr

Autodesk To Acquire Cloud-Based PLM Software Firm Upchain

In recent years, Autodesk—the self-described “leader in 3D design, engineering and entertainment software”—has steadily expanded the reach and scope of its apps. In the past few months I’ve gotten to tell some very cool stories surrounding those moves, including the company’s Series B investment in Factory_OS (modular housing solutions), its work in moviemaking with stop-motion animation masters LAIKA, and its support for the SnapEDA search engine tool for electronic device design.

To further broaden its reach across the technical design world, Autodesk has made key recent acquisitions as well, including Innovyze (water infrastructure design, modeling and simulation software) and CAMplete (CNC machining apps). Today the company announced that it has signed a definitive agreement to acquire Upchain, a provider of cloud-based product lifecycle management (PLM) and product data management (PDM) software. It’s a move Autodesk says will pull all manufacturing-related apps, both their own and those from other providers in the industry, together into a seamless total product design solution.

Founded in 1982, Autodesk has over 11,500 employees worldwide. The growth strategy the company has been pursuing seems to be paying off. Fiscal 2021 revenue increased 16 % over the previous year to $3.79 billion, driven by strengths in enterprise and cloud-based sales as well as resilience in the company’s SaaS model.

Autodesk’s President and CEO, Andrew Anagnost, is particularly bullish about today’s announcement. “Upchain’s cloud-based PLM and PDM will unite the ecosystem of every type of app—ours and others’,” he said. “It will help break down the barriers between different disciplines. If you look at [Autodesk’s 3D design program,] Fusion, it’s a multi-disciplinary design environment, supporting CAD, CAM, CAE, and generative design and simulation that all work together seamlessly. Upchain allows us to extend that process end-to-end, where the user doesn’t even have to think about it and the data management piece becomes invisible.”

That notion, and PLM software itself, are nothing new. The core purpose of PLM is to provide a central clearinghouse for all things related to a given product, and to connect all the different business groups (engineering, production, quality, marketing, etc.) who have a hand in product development and management. There are many vendors of the software, and their products have become mainstay tools for companies large and small, particularly those with regular and rapid new product development cycles.

However, there are often significant challenges with PLM implementations, such that many launches fail to live up to their promises. Some common particular difficulties include integrating existing apps with the new system, bogging down of computer systems, and challenges with version control for documents and files. Autodesk’s vision for uniting with Upchain is aimed at eliminating those problems by allowing distant users of any app to work together in real time.

“Cloud to cloud is better than internal integrations,” Anagnost explained. “If you build internal connections, somebody has to maintain those. They’re brittle, and they eventually break. Cloud makes all the difference there—it’s the secret sauce. It allows robust federations. It’s a lot easier to have Upchain talk to your ERP. And again, if you look at Fusion, it already decomposes files into individual bits. Upchain inserts those into your data stream. There will come a time where there are no files at all—you’ll share info, not files. You share just data, and the data becomes more fluid—it shows up where it’s needed.”

Upchain already has customers in aerospace, automotive, machining and apparel, which means it already parallels Autodesk in the types of industries  the two companies support. As Autodesk ties together its existing apps with Upchain PLM and PDM, the combined services will naturally fit with the existing customer base while also supporting other CAD systems commonly used in the manufacturing industry.

For Anagnost, the acquisition addresses key challenges customers are facing. “Upchain makes it easier to share information and to work with distant teams. It makes communicating and collaborating more effective, reliable and predictable. Everyone is concerned about supply chain stability. There’s pressure to harden the business against disruptions. At the same time, everyone’s also focused on lowering IT costs. Organizations have been ripping out in-house IT solutions and going to the cloud. Our collaboration with Upchain will help drive down the cost and complexity of that work.”

Source: Forbes

15
Apr

Autodesk Acquires Upchain

Autodesk, the publicly-traded software company best known for its CAD and 3D modeling tools, today announced that it has acquired Upchain, a Toronto-based startup that offers a cloud-based product lifecycle management (PLM) service. The two companies, which didn’t disclose the acquisition price, expect the transaction to close by July 31, 2021.

Since its launch in 2015, Upchain raised about $7.4 million in funding, according to Crunchbase. The central idea behind the service was that existing lifecycle management solutions, which are meant to help businesses take new products from inception production and collaborate with their supply chain in the process, were cumbersome and geared toward large multi-national enterprises. Upchain’s focus is on small and mid-sized companies and promises to be more affordable and usable than other solutions. It’s customer base spans a wide range of industries, ranging from textiles and apparel to automotive, aerospace, industrial machines, transportation and entertainment.

“We’ve had a singular focus at Upchain to up-level cloud collaboration across the entire product lifecycle, changing the way that people work together so that everyone has access to the data they need, when they need it,” Upchain CEO and founder John Laslavic said in today’s announcement. “Autodesk shares our vision for radically simplifying how engineers and manufacturers across the entire value chain collaborate and bring a top-quality product to market faster. I look forward to seeing how Upchain and Autodesk, together, take that vision to the next level in the months and years to come.”

For Autodesk, this is the company’s 15th acquisition since 2017. Earlier this year, the company made its first $1 billion acquisition when it bought Portland, OR-based Innovyze, a 35-year-old company that focuses on modeling and lifecycle management for the water management industry. 

“Resilience and collaboration have never been more critical for manufacturers as they confront the increasing complexity of developing new products. We’re committed to addressing those needs by offering the most robust end-to-end design and manufacturing platform in the cloud,” said Andrew Anagnost, President and CEO of Autodesk. “The convergence of data and processes is transforming the industry. By integrating Upchain with our existing offerings, Autodesk customers will be able to easily move data without barriers and will be empowered to unlock and harness valuable insights that can translate to fresh ideas and business success.”

Source: Techcrunch

15
Apr

Autodesk to Acquire Upchain to Accelerate Product Development Data and Processes in the Cloud

SAN FRANCISCOApril 15, 2021 — Autodesk, Inc. (NASDAQ: ADSK) today announced it has signed a definitive agreement to acquire Upchain, a provider of instant-on, cloud-based product lifecycle management (PLM) and product data management (PDM) solutions. The acquisition positions Autodesk to deliver more value for engineers, manufacturers, suppliers and other product stakeholders by increasing collaboration across the decentralized product value chain, regardless of CAD system.

Upchain has created a unified cloud platform that eliminates the boundaries of traditional PLM and PDM technologies, helping manufacturers manage complexity across teams by putting data at the center of the product development process.

“Resilience and collaboration have never been more critical for manufacturers as they confront the increasing complexity of developing new products. We’re committed to addressing those needs by offering the most robust end-to-end design and manufacturing platform in the cloud,” said Andrew Anagnost, President and CEO of Autodesk. “The convergence of data and processes is transforming the industry. By integrating Upchain with our existing offerings, Autodesk customers will be able to easily move data without barriers and will be empowered to unlock and harness valuable insights that can translate to fresh ideas and business success.”

Autodesk will maintain Upchain’s open approach to data, supporting integration not only with solutions like Inventor, AutoCAD and Fusion 360, but also with other CAD systems commonly used in the manufacturing industry.

“The acquisition of Upchain is a big step toward meeting our customers where they are, removing the barriers to collaboration and bridging the gap between data management and process management technologies,” said Scott Reese, Executive Vice President of Product Development and Manufacturing Solutions at Autodesk. “Disruption has become a constant in the world of manufacturing. Being equipped with instant access to data across the product value chain gives companies the ability to remain agile and bring compelling products to market quickly and efficiently.”

Upchain serves a diversified customer base from across industries including automotive and aerospace, industrial machines, transportation, entertainment, and textiles and apparel.

“We’ve had a singular focus at Upchain to up-level cloud collaboration across the entire product lifecycle, changing the way that people work together so that everyone has access to the data they need, when they need it,” said John Laslavic, CEO and Founder of Upchain. “Autodesk shares our vision for radically simplifying how engineers and manufacturers across the entire value chain collaborate and bring a top-quality product to market faster. I look forward to seeing how Upchain and Autodesk, together, take that vision to the next level in the months and years to come.”

For more information, please see the accompanying PDF.

The transaction is subject to customary closing conditions and is expected to close during Autodesk’s second quarter of fiscal year 2022, ending July 31, 2021.

08
Apr

The Barcode: Stress-baking and popcorn are the new norm

TORONTO– Sensibill, the leading provider of everyday financial tools and SKU-level insights, delivers its second in a series of monthly reports, entitled The Barcode Report, leveraging item-level receipt data to deliver the world’s deepest and most relevant insights on everyday consumer spending.

The Barcode Report transforms the SKU-level data derived from digital receipts into consumable and actionable facts (details include item names, prices, taxes, tips, off-card spend, return, warranty information, and much more). In this report, Sensibill focuses on new habits and hobbies that consumers have adopted during the pandemic.

Key Takeaways:

  • Spending on baking-related items tripled per person during the pandemic.
  • Consumers spent 37% more on popcorn during lockdown than before.
  • Money spent on popcorn shifted from theaters to grocery stores, contributing to a 20% increase in popcorn-related purchases in-store.

Izabella Gabowicz, Chief Operating Officer of Sensibill, said, “We’re fascinated by the amount of information organizations can learn from consumers everyday spend, revealing underlying habits, behaviors, and lifestyles. There’s power in harnessing SKU-level data to not only understand customers, but also to create better targeted marketing campaigns, surface relevant offers and rewards, and more. The monthly Barcode reports are intended for anyone who finds value in trends and data to inform decisions within their organization. And it’s an excellent example of the level of detail all organizations should expect from their data.”

Please click here to find the full version of the April report.

06
Apr

What is the Importance of Managing Everyday Spend When it Comes to Financial Wellness…

NCR’s Senior Product Manager, Digital Banking Bryan Link, Sensibill’s Founder/CEO Corey Gross, and Leaders Credit Union’s Chief Marketing Officer Leigh Anne Bentley joined us on the show to share their collaborative expertise on the importance of managing everyday spend when it comes to financial wellness.

Here’s what they talked about:

Credit unions and fintechs alike have found members aren’t planning in years or months, but weeks and even days. What’s going on here with this shift?

What is the importance of managing everyday spend – what the pandemic has taught us?

How do we create healthier financial habits now and in a post-pandemic world?

Can you tell us more about Leaders Credit Union’s can financial wellness program?

How can credit unions can use data-driven insights to better understand their members during this time?

Fantastic conversation from the group on a very timely topic.

https://www.cubroadcast.com/episodes/2517-what-is-the-importance-of-managing-everyday-spend-when-it-comes-to-financial-wellness

30
Mar

Dialogue Health shares surge 20% on TSX debut

Dialogue Health Technologies Inc. shares surged in an initial public offering on the Toronto Stock Exchange.

The Montreal-based telemedicine company priced 8.34 million shares in its IPO at $12 each to generate aggregate gross proceeds of about $100 million, but its stock jumped by 25 per cent to reach $15 in mid-morning trading Tuesday.

“This IPO is an exciting new chapter for Dialogue,” said Cherif Habib, the company’s chief executive, in a statement.

“We will continue growing our platform, launching new health and wellness programs and bringing our solution to millions of people worldwide. A warm welcome to our new shareholders and partners joining us on this journey.”

For Habib, Tuesday was a moment that took five years to materialize and was given an extra boost by the COVID-19 pandemic.

Since 2016, when Habib founded Dialogue with Alexis Smirnov and Anna Chif, the company has been rapidly growing and picking up partners keen on remotely connecting health professionals with Canadians seeking medical advice.

The health crisis kicked those trends into high gear and generated a surge in interest around telemedicine as Canadians moved to work from home and limit their exposure to the virus.

Dialogue was well poised to take advantage. While others were laying off workers and preparing to cut wages and hours last March, Habib hired at least 250 staff.

By July, he and Dialogue had hooked Sun Life Financial Inc. too. The Toronto-based insurance provider became minority owner of Dialogue through a commercial partnership that involved a $32.7-million equity investment and gave Sun Life rights to acquire additional equity later.

A prospectus Dialogue filed along with its IPO showed it has partnered with Canada Life Assurance Co., Beneva and Desjardins and counts National Bank of Canada, Lightspeed POS Inc., Ubisoft, Samsung, Sobeys and Sephora as customers.

Dialogue’s prospectus also revealed that its offering could see shareholders Sun Life, White Star Capital’s Fund VI and HV Holtzbrinck Ventures Fund VI SCS own about 14, 13 and 10 per cent of the company’s stock, respectively.

Under the offering, Dialogue’s underwriters have a right to buy more than 1.25 million or $15-million worth of stock from investors.

The offering was led by National Bank Financial Inc., RBC Capital Markets, Scotiabank and TD Securities Inc. and includes CIBC World Markets Inc., Desjardins Securities Inc., Canaccord Genuity Corp., iA Private Wealth Inc., INFOR Financial Inc. and Laurentian Bank Securities Inc.

Full Article

25
Mar

ThinkData Named Data Monitoring Solution of the Year

Data Breakthrough AwardsTORONTO, ON – March 24th, 2021 — ThinkData Works, Inc., the Toronto-based company providing the enterprise withflexible data catalog solutions, has been selected by Data Breakthrough awards as the ‘Data Monitoring Solution of the Year.’ In 2020, ThinkData Works was selected the Overall Data Science Platform of the Year. 

Data Breakthrough announced the results of the 2021 Breakthrough Awards, highlighting the driving technologies and companies in global innovation. Data Breakthrough is associated with the Tech Breakthrough organization, a leader in market intelligence that recognizes the top companies, products, and technologies within the most competitive sectors today, including IoT, Cyber Security, Mobile/Wireless, Digital Health, Fintech and the Data Sector.

“We are thrilled to be recognized as a global leader in data technology solutions by the Data BreakThrough Awards for a second consecutive year; it’s great to see that our solution has withstood economic downturn and continues to provide value,” said Bryan Smith, Co-founder and CEO of ThinkData Works.

“The past year exposed the importance and necessity of data security and embedded trust. We’re eager to continue ensuring world class data validation, matching, and enrichment to organizations of all sizes.”

This year’s data category attracted more than 1,750 nominations from all over the globe. Other category winners include industry leaders such as Google Cloud, Fivetran, IBM, and Microsoft.

All award nominations were evaluated by an independent panel of data industry experts across various disciplines, with the winning products and companies selected based on innovation, performance, ease of use, functionality, value, and impact.

The 2021 Data Breakthrough Award winners include: 

Data Management
Data Management Solution of the Year: Piano
Data Processing Solution of the Year: Snowplow
Data Monitoring Solution of the Year: ThinkData Works
Data Management Innovation of the Year: Domino Data Lab
Data Management Company of the Year: Druva

Data Analytics
Predictive Analytics Solutions of the Year: Fiddler AI
Data Visualization Solution of the Year: Swim
Log Analytics Solution of the Year: ChaosSearch
Cross Intrastructure Analytics Solution of the Year: InfoCepts
Data Analytics Solution of the Year: Google Cloud
Data Analytics Innovation of the Year: ADP DataCloud
Overall Data Analytics Platform of the Year: Quantexa
Overall Data Analytics Company of the Year: Exasol

Business Intelligence
Business Intelligence Solution of the Year: IBM
Business Intelligence Platform of the Year: GoodData
Business Intelligence Solution Provider of the Year: ActivTrak

Data Storage
Consumer Storage Solution of the Year: Seagate
Flash Storage Solution of the Year: ScaleFlux
Data Storage Innovation of the Year: CTERA
Overall Data Storage Solution of the Year: StorMagic
Overall Data Storage Company of the Year: WekaIO

DataOps
DataOps Solution of the Year: HighByte
DataOps Platform of the Year: Varada
DataOps Company of the Year: DataKitchen

For the full list of winners, click here.

17
Mar

Next-Generation Virtual Shareholder Meeting Platform Enhanced through Broadridge and Strategic Partnership with Q4, Inc

NEW YORK, March 17, 2021 — With U.S. corporations and investors preparing for the start of the annual shareholder meeting season, Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, in conjunction with Q4 Inc. (Q4), a leading capital markets, investor relations and virtual events solution provider, announce a strategic partnership to deliver the next generation of the Broadridge Virtual Shareholder Meeting (VSM). Combining the technology and expertise of Broadridge’s decade-plus leadership in VSMs with Q4’s latest virtual events capabilities, provides issuers and investors with a stress-free, intuitive and enriched experience.

“VSMs are a critical tool, revolutionizing how companies conduct their annual meetings and speak to shareholders, and Broadridge and Q4 are re-defining and enhancing the VSM experience. This enhanced VSM will drive increased shareholder engagement by providing an experience that has many advantages over a physical meeting,” said Cathy Conlon, Vice President, Broadridge Corporate Issuer Product Strategy & Business Development. “Companies will experience the latest virtual events technology platform, which will benefit their management team holding the event and the shareholders who attend.”

New features of this fully integrated VSM offering include state-of-the-art video and audio collaboration, role-based meeting views, comprehensive meeting management tools and improved Q&A functionality. The platform is aligned with VSM best practices recently outlined by Rutgers University Law School. It provides “one-click” secure shareholder authentication and seamless proxy voting accessed directly from the VSM meeting.

Broadridge pioneered the first commercial VSM platform in 2009 and is the leading provider of VSMs to public companies in North America. In 2020, Broadridge hosted nearly 2,000 VSMs for public company annual meetings and led the industry in how to conduct virtual meetings. This strategic partnership between Broadridge and Q4 builds on the collaborative launch of the Digital Proxy with the goal of increasing retail shareholder participation in corporate governance.

Benefits for Shareholders and Companies

For shareholders, the platform allows for a highly engaging and modern virtual experience, starting with a seamless meeting authentication, a “Zoom-like” meeting experience, integrated Q&A, live voting, speaker profiles and easily accessible meeting materials.

For issuers, the platform provides an integrated console to manage all aspects of the VSM experience, including seamless management of high-quality video and audio streamed from multiple presenters, screen sharing, meeting materials management and voting. Innovative Q&A management has been designed for administrators to review shareholder questions and queue for presenters, while corporate executives and board members benefit from integrated private chat tools for unparalleled collaboration and communication throughout the meeting.

“We are incredibly excited about our strategic partnership with Broadridge and to bring this next generation VSM platform to the market,” said Darrell Heaps, CEO of Q4. “Since the beginning of the pandemic we have been working closely with the experts at Broadridge at extending our new virtual events platform to serve the needs of shareholders and issuers in this new virtual world. We are proud to deliver this platform and set the standard by which all VSMs will be measured against as we lead the market to how much more effective VSMs can be.”

Broadridge and Q4 provide this VSM platform with a dedicated team of capital markets events experts for guided, premium support throughout meeting planning, dry runs, live broadcast and meeting choreography to deliver a flawless experience for companies to help meet meeting requirements.

VSMs generate significantly lower carbon emissions than in-person meetings and create an opportunity for companies to reduce their overall carbon footprint. Broadridge data shows that, compared with in-person events, VSMs can help companies virtually eliminate their AGM-related carbon footprint.

In 2020, Q4 hosted more than 4,000 capital markets virtual events, including earnings events, investor days and investor conferences. Moving forward, Broadridge and Q4 plan to partner on extending Q4’s suite of impactful virtual events solutions to issuers, asset managers and other capital markets participants.

These enhancements are currently only available in the U.S. and will be rolled out to markets outside the U.S. in the future.

About Broadridge Financial Solutions
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $4.5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions to banks, broker-dealers, asset and wealth managers and public companies. Broadridge’s infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. In addition, Broadridge’s technology and operations platforms underpin the daily trading of on average more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is a part of the S&P 500® Index, employing over 12,000 associates in 17 countries. For more information about us and what we can do for you, please visit www.broadridge.com

For more information about Broadridge’s virtual shareholder meeting solution:

16
Mar

Sensibill Recognized by FinTech Breakthrough Awards Program for “Personal Finance Innovation Award”

TORONTO – Sensibill, the leading provider of everyday financial tools and SKU-level insights, today announced that it has been selected by FinTech Breakthrough as the winner of the “Personal Finance Innovation Award.” Sensibill joins leading companies, technologies and products in the global fintech market today as part of FinTech Breakthrough’s fifth annual awards program led by FinTech Breakthrough, an independent market intelligence organization.

Sensibill was an early pioneer in harnessing SKU-level data, breaking through the market with its innovative digital receipt and expense management solution that allows consumers and businesses to track spending, make returns and exchanges, submit warranties, and better manage their financial health. This level of data has enabled institutions to uncover deeper, more meaningful information about their customers, such as preferences, brand loyalties, life stages and timely financial needs. The company recently introduced its Sensibill Platform, a comprehensive platform complete with spend management, receipt management, and expense management capabilities – all embedded within the financial institution’s mobile and online banking applications. Its platform makes SKU-level data much more actionable than ever before, delivering on the company’s mission to make financial wellness attainable for all.

“The need for financial institutions to better know their customers and help them manage everyday spending has never been greater and Sensibill is empowering institutions to finally get personalization right,” said James Johnson, Managing Director of FinTech Breakthrough. “By harnessing Sensibill’s SKU-level data to deliver tailored experiences and advice, the enhanced customer experience builds loyalty and fuels growth while also helping customers’ hard-earned money go further. Our sincere congratulations to Sensibill for their well-deserved success and industry recognition with this award.”

“We strongly believe that with relevant financial resources and tools, anyone has the ability to become their best financially,” commented Corey Gross, Co-founder and CEO of Sensibill. “Our comprehensive platform is available to financial institutions of all sizes, because just like consumers, there shouldn’t be a limit to who can provide or receive the tools to achieve financial wellness. Not only is winning the FinTech Breakthrough award a testament to the technology and partnerships we’ve built, but a call to the industry to make financial wellness and personalization a priority – not another line item.”

About FinTech Breakthrough

Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.

01
Mar

DailyPay Expands Platform: Announces Integration Offering For Human Capital Management And Payroll Industries

NEW YORK, March 1, 2021  —  DailyPay , the recognized gold standard in the on-demand pay industry, today announced the launch of a game-changing new product, ExtendPX , for human capital management (HCM) and payroll service providers.

ExtendPX  moves DailyPay beyond their traditional On-Demand Pay (ODP) business offering. The announcement of ExtendPX will enable every Payroll, HCM and TMS (Time Management Software) company in the U.S. to offer highly demanded on-demand pay services through a customizable, modular on-demand pay solution that can be embedded into the product suite that they offer to their customers. ExtendPX, the first of its kind for the PayExperience industry, is already active with notable leading global payroll and HCM partners and other organizations.

“As the gold standard in the on-demand pay industry, our mission is to unlock the endless possibilities of pay,” said Konstantin Getmanchuk, Senior Vice President, Product Management, DailyPay. “With 80% of Fortune 100 companies who offer on-demand pay choosing DailyPay, we have seen the demand for ODP services grow at unprecedented rates. The future is here. We are here to facilitate that change. Within a few years, every company will enable their employees to access the money they have earned, as they need it. It is time to offer an innovative solution to HCM companies.”

The most robust program of its kind, ExtendPX offers a comprehensive set of services, with the ability to customize based on needs. HCM companies can embed the DailyPay offering into their own product suite using DailyPay APIs, or choose a white-label approach. Both options result in an on-brand experience where the product looks and feels like their own — without the hassle of building a native solution. In addition to supporting immediate access to earned income, the full list of services includes employee savings and financial wellness features, off-cycle payment tools and other supporting DailyPay services, such as guaranteed program funding, secure data exchange monitoring and multi-level live domestic employee support.

“We were thrilled to have DailyPay integrated into our benefits package,” said Bob Frank, SVP and CIO, Adams Keegan . “The ability to seamlessly offer one of the most sought-after benefits that gives employees the power of choice and control over their earned pay will give us a competitive advantage over our competitors and is a game-changer for our clients.”

The demand for on-demand pay (an employer-based benefit and payroll process also called earned wage access) has grown exponentially due to its proven ability to reduce turnover, promote worker productivity and boost hiring. Given the triple-digit growth in client demand for on-demand pay, HCM, payroll and TMS companies are quickly realizing the need to embrace this new market.

“Over the past five years, DailyPay has partnered with key HCM and TMS companies in powerful ways,” said Jason Lee, CEO and co-founder of DailyPay. “We have proven that by integrating our gold-standard offering into their platforms, more Americans can enjoy control and flexibility over their pay. After all, it’s their money, and they’ve earned it. This product expansion is just one of the critical steps we are making to move the entire PayExperience industry forward.”

DailyPay is already a bestselling solution offered on leading HCM marketplaces, and is integrated with six of the 10 largest HCM companies. Click here to see DailyPay’s full network of integration partners.

The launch of ExtendPX comes on the heels of the recent launch of DailyPay CYCLE , DailyPay’s new product for payroll professionals that solves many challenges by digitizing off-cycle payments and making them available real-time.

 

AI STARTUP RUBIKLOUD TO BE ACQUIRED BY OTTAWA-BASED KINAXIS FOR $81.4 MILLION CAD

OTTAWA, ON, June 15, 2020 – Kinaxis® Inc. (TSX: KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, has signed a definitive agreement to acquire Toronto-based Rubikloud, a disruptive, emerging provider of AI solutions that automate supply chain prescriptive analytics and decision-making in the retail and consumer packaged goods (CPG) industries.

Globally-recognized retailers and CPG manufacturers in the health and beauty, household and grocery segments use Rubikloud’s AI-based products today. Their offerings include demand forecasting and automation to manage and optimize trade promotions, pricing and assortment to drive product demand and dramatically improve financial results. Kinaxis will enhance RapidResponse’s demand planning capabilities with the Rubikloud offerings, anticipating initial opportunities in the company’s rapidly-growing CPG customer base and over time for other industries such as life sciences. The acquisition also offers Kinaxis a springboard into the enterprise retail industry.

“Rubikloud has capabilities and value that we can offer our CPG customers today, leads us into the retail industry with some bellwether accounts, and adds a group of approximately 80 people to an already-impressive AI and machine learning (ML) team here at Kinaxis. Over time, this enhanced group will contribute to new and existing AI-powered capabilities across the full Kinaxis RapidResponse® platform and applications,” said John Sicard, President and CEO of Kinaxis. “This acquisition reflects the growing importance of AI and ML to power intelligent automation and augment human decision-making to better deliver on customer promises, remove waste and increase resiliency for effective risk management.”

Rubikloud’s SaaS-based ML offerings empower retail and CPG manufacturers to transform their core operations by improving and automating complex, profit-generating decisions. Rubikloud’s proven AI capabilities and intuitive tools enable users to leverage disparate data sources to improve forecast accuracy, site-level allocations, inventory availability and promotion plans by allowing users to run boundless simulations in real time.

“We founded Rubikloud with the belief that purpose-built AI could be used to solve some of the most complex industry problems and we have spent the last seven years building a fantastic product that receives validation from global customers every day,” said Kerry Liu, CEO, Rubikloud. “We’re excited at the prospect of joining Kinaxis, which helps us bring our innovations to a much broader customer base at a faster pace than on our own. Not only that, being two strong Canadian companies we see great cultural synergy and look forward to working on the complex problems we know RapidResponse and concurrent planning can solve for customers.”

Terms of Agreement
Kinaxis will acquire Rubikloud for US$60 million in an all-cash transaction that is expected to close within 60 days. Based on Rubikloud’s current revenue and expense profile, the company’s fiscal 2020 revenue and Adjusted EBITDA guidance, as reiterated in its May 6, 2020 news release, remains unchanged. The transaction is subject to customary closing conditions.

About Kinaxis Inc. 
Everyday volatility and uncertainty demand quick action. Kinaxis® delivers the agility to make fast, confident decisions across integrated business planning and the digital supply chain. People can plan better, live better and change the world. Trusted by innovative brands, we combine human intelligence with AI and concurrent planning to help companies plan for any future, monitor risks and opportunities and respond at the pace of change. Powered by an extensible, cloud-based platform, Kinaxis delivers industry-proven applications so everyone can know sooner, act faster and remove waste. For more Kinaxis news, follow us on LinkedIn or Twitter.