Top tech startup news for today, Monday, February 3, 2020: Worldline, WeWork, NASDAQ, Accenture, Cresta, Ingenico, JumpStory, OpenLegacy
Good morning! Below are the top tech startups news for the first Monday of February 2020.
Payments giant Worldline to buy rival Ingenico in $8.6 billion deal as fintech competition heats up. Two European giants in the payments space are set to combine to create the industry’s fourth-largest player. France’s Worldline said it would buy domestic rival Ingenico in a deal that values the startup at 7.8 billion euros ($8.6 billion), Worldline said in a statement Monday. Older payments players have been under pressure to consolidate as they face competition from a wave of new fintech rivals.
Accenture to Acquire Mudano to enhance its analytics and data transformation services to financial services firms in the UK. Accenture announced today it has reached an agreement to acquire Mudano, a strategic data consultancy to U.K. financial services firms, further enhancing its analytics, data and artificial intelligence (AI) transformation capabilities. Terms of the transaction were not disclosed. Mudano’s team of industry-focused data professionals will join Accenture Applied Intelligence, which employs more than 20,000 professionals worldwide who help clients scale AI, including 6,000 data scientists, data engineers and AI professionals. Founded in 2014 and headquartered in London, with a presence in Edinburgh, Scotland, Mudano uses advanced analytics, applied data science and modern data technologies to help the U.K.’s largest banks, insurers and wealth management firms transform key areas, such as customer behavior analytics, financial crime-prevention and intelligent data management.
OpenLegacy bags $20M strategic investment from SBI Holdings. OpenLegacy, a Reston, Virgina-based tech startup and a provider of microservice-based APIs for legacy and core systems, has received a $20 million strategic investment from SBI Holdings. The investment will help to accelerate its own digital transformation activities. The Japanese investor wants to leverage OpenLegacy’s technology for the MoneyTap app and says it will recommend OpenLegacy for the digital transformation of regional banks.
Cresta launches out of stealth with $21M in funding from Andreessen Horowitz, others to provide AI for the human side of your contact center. Cresta, an AI startup that was spun out of the Stanford Artificial Intelligence lab, announced it has closed $21 million in funding to enable office workers to be experts on day one. Backers for the funding include Greylock Partners, Andreessen Horowitz, Andy Bechtolsheim, Mark Leslie and Vivi Nevo. In conjunction with the funding, Cresta also announced that its transformative software for contact centers, a $310 billion market, is now available to the public. Fortune 500 companies using Cresta are already seeing their agents become more effective and more efficient, and ramp up in significantly less time. Founded in 2017 by Zayd Enam, Tim Shi, and Sebastian Thrun, the Palo Alto, California-based Cresta is a developer of an artificial intelligence platform designed to help scale and improve the quality of customer services.
JumpStory, Netflix of images, raises $1M to use AI to find authentic images and videos for users. Jumpstory, the Netflix of images and the creator of revolutionary AI-based digital content platform, today announced the rollout of its AI-powered image search and success prediction tools after securing $1 million investment. The platform, which features a Netflix-style subscription model, uses AI to find authentic images and videos based on written marketing content and predicts how images will perform, saving marketers time To date, the Aarhus-based startup JumpStory has raised $1m after two rounds of funding. The startup provides a Netflix-style subscription makes stock image sourcing fast, effortless and affordable.
WeWork to name Sandeep Mathrani as new CEO, report says. WeWork is planning to name Sandeep Mathrani, a veteran in the real estate industry, as its new CEO, according to a report from Wall Street Journal, citing people familiar with the matter. Mathrani was previously CEO at Brookfield Properties’ retail group, and is on the executive board and board of trustees for the International Council of Shopping Centers (ICSC) and the board of directors of Host Hotels & Resorts, Inc. He replaces Artie Minson and Sebastian Gunningham, who were co-chief executives of WeWork parent We Co. since the company’s co-founder and former CEO Adam Neumann stepped down in September. SoftBank’s Marcelo Claure will remain as the executive chairman.
Nasdaq acquires fintech startup OneReport to accelerate delivery of ESG reporting and workflow solution to corporate clients. Nasdaq, a global technology company serving the capital markets and other industries, announced today the acquisition of OneReport, a fintech startup and provider of corporate responsibility and environmental, social, and governance (ESG) data management and reporting services. The financial terms of the deal were not disclosed. The acquisition will help NASDAQ to accelerate the delivery of its recently-announced ESG reporting and workflow solution, to be named Nasdaq OneReport. The platform is now available to companies as part of the suite of solutions offered by Nasdaq’s Corporate Services business. Founded in 2003, OneReport is a provider of corporate responsibility (CR) information management and reporting services.
Industry Ventures closes its debut hybrid fund with $125M to buyout funds within the technology space. Industry Ventures, an investment firm pioneering venture capital solutions, announced today the final closing of its debut hybrid fund of funds for technology buyouts, Industry Ventures Tech Buyout, L.P. (“the Fund”), with total commitments of $125 million. The hybrid fund will focused on direct investments and to buyout funds within the technology space. Founded in 2000, Industry Ventures is a leading venture capital platform with $3.6 billion under management. Industry Ventures invests across all stages of the venture capital lifecycle through complementary fund strategies. The firm is headquartered in San Francisco, with offices in Washington, DC and London.