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MachEye raises $4.6M for its business intelligence platform

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We’ve seen our fair share of business intelligence (BI) platforms that aim to make data analysis accessible to everybody in a company. Most of them are still fairly complicated, no matter what their marketing copy says. MachEye, which is launching its AI-powered BI platform today, is offering a new twist on this genre. In addition to its official launch, the company also today announced a previously unreported $4.6 seed funding round led by Canaan Partners with participation from WestWave Capital.

MachEye is not just what its founder and CEO Ramesh Panuganty calls a “low-prep, no-prep” BI platform, but it uses natural language processing to allow anybody to query data using natural language — and it can then automatically generate interactive data stories on the fly that put the answer into context. That’s quite a different approach from its more dashboard-centric competition.

“I have seen the business intelligence problems in the past,” Panuganty said. “And I saw that Traditional BI, even though it has existed for 30 or 40 years, had this paradigm of ‘what you ask is what you get.’ So the business user asks for something, either in an email, on the phone or in person, and then he gets an answer to that question back. That essentially has these challenges of being dependent on the experts and there is a time that is lost to get the answers — and then there’s a lack of exploratory capabilities for the business user. and the bigger problem is that they don’t know what they don’t know.”

Panuganty’s background includes time at Sun Microsystems and Bell Labs, working on their operating systems before becoming an entrepreneur. He build three companies over the last 12 years or so. The first was a cloud management platform, Cloud365, which was acquired by Cognizant. The second was analytics company Drastin, which got acquired by Splunk in 2017, and the third was the AI-driven educational platform SelectQ, which Thinker acquired this April. He also holds 15 patents related to machine learning, analytics and natural language processing.

Given that track record, it’s probably no surprise why VCs wanted to invest in his new startup, too. Panuganty tells me that when he met with Canaan Partners, he wasn’t really looking for an investment. He had already talked to the team while building SelectQ, but Canaan never got to make an investment because the company got acquired before it needed to raise more funding. But after an informal meeting that ended up lasting most of the day, he received an offer the next morning.

Image Credits: MachEye

MachEye’s approach is definitely unique. “Generating audio-visuals on enterprise data, we are probably the only company that does it,” Panuganty said. But it’s important to note that it also offers all of the usual trappings of a BI service. If you really want dashboards, you can build those, and developers can use the company’s APIs to use their data elsewhere, too. The service can pull in data from most of the standard databases and data warehousing services, including AWS Redshift, Azure Synapse, Google BigQuery, Snowflake and Oracle. The company promises that it only takes 30 minutes from connecting a data source to being able to ask questions about that data.

Interestingly, MachEye’s pricing plan is per seat and doesn’t limit how much data you can query. There’s a free plan, but without the natural search and query capabilities, an $18/month/user plan that adds those capabilities and additional search features, but it takes the enterprise plan to get the audio narrations and other advanced features. The team is able to use this pricing model because it is able to quickly spin up the container infrastructure to answer a query and then immediately shut it down again — all within about two minutes.

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Teardown of “Dishy McFlatface,” the SpaceX Starlink user terminal

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Enlarge / Ken Keiter gets ready to tear apart the SpaceX Starlink user terminal, “Dishy McFlatface.” (credit: Ken Keiter)

Engineer Ken Keiter recently came into possession of one SpaceX Starlink user terminal, the satellite dish that SpaceX nicknamed “Dishy McFlatface.” But instead of plugging it in and getting Internet access from SpaceX’s low Earth orbit (LEO) satellites, Keiter decided to take Dishy apart to see what’s inside.

The teardown process destroyed portions of the device. “I would love to actually test out the [Starlink] service and clearly I didn’t get a chance to, as this went a little bit further than I was intending,” Keiter said toward the end of the 55-minute teardown video he posted on YouTube last week.

Keiter, who lives in Portland, Oregon, was impressed by the Starlink team’s work. “It’s rare to see something of this complexity in a consumer product,” he said in reference to the device’s printed circuit board (PCB), which he measured at 19.75″ by 21.5″.

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Salesforce applies AI to workflow with Einstein Automate

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While Salesforce made a big splash yesterday with the announcement that it’s buying Slack for $27.7 billion, it’s not the only thing going on for the CRM giant this week. In fact Dreamforce, the company’s customer extravaganza is also on the docket. While it is virtual this year, there are still product announcements aplenty and today the company announced Einstein Automate, a new AI-fueled set of workflow solutions.

Sarah Franklin, EVP & GM of Platform, Trailhead and AppExchange at Salesforce says that she is seeing companies facing a digital imperative to automate processes as things move ever more quickly online, being driven there even faster by the pandemic. “With Einstein Automate, everyone can change the speed of work and be more productive through intelligent workflow automation,” she said in a statement.

Brent Leary, principal analyst at CRM Essentials says that combined these tools are designed to help customers get to work more quickly. “It’s not only about identifying the insight, it’s about making it easier to leverage it at the the right time. And this should make it easier for users to do it without spending more time and effort,” Leary told TechCrunch.

Einstein is the commercial name given to Salesforce’s artificial intelligence platform that touches every aspect of the company’s product line, bringing automation to many tasks and making it easier to find the most valuable information on customers, which is often buried in an avalanche of data.

Einstein Automate encompasses several products designed to improve workflows inside organizations. For starters, the company has created Flow Orchestrator, a tool that uses a low-code, drag and drop approach for building workflows, but it doesn’t stop there. It also relies on AI to provide help suggest logical next steps to speed up workflow creation.

Salesforce is also bringing Mulesoft, the integration company it bought for $6.5 billion in 2018 into the mix. Instead of processes like a mortgage approval workflow, the Mulesoft piece lets IT build complex integrations between applications across the enterprise, and the Salesforce family of products more easily.

To make it easier to build these workflows, Salesforce is announcing the Einstein Automate collection page available in AppExchange, the company’s application marketplace. The collection includes over 700 pre-built connectors so customers can grab and go as they build these workflows, and finally it’s updating the OmniStudio, their platform for generating customer experiences. As Salesforce describes it, “Included in OmniStudio is a suite of resources and no-code tools, including pre-built guided experiences, templates and more, allowing users to deploy digital-first experiences like licensing and permit applications quickly and with ease. ”

Per usual with Salesforce Dreamforce announcements, the Flow Orchestrator being announced today won’t be available in beta until next summer. The Mulesoft component will be available in early 2021, but the OmniStudio updates and the Einstein connections collection are available today.

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Virta Health’s behavioral diabetes treatment service is now worth over $1 billion

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A new $65 million investment led by the growth capital and public investment arm of Sequoia Capital will give Virta Health, a developer of a behavioral-focused diabetes treatment, a valuation of over $1 billion.

Virta’s approach, which uses a combination of approaches to change diet and exercise to reverse the presence of type 2 diabetes and other chronic metabolic conditions, has shown clinical success and attracted 100 health care payers to endorse the company’s treatments.

“We partnered with Virta for their ability to deliver unmatched health improvement and cost savings—two clear differentiators from other offerings on the market,” said William Ashmore, CEO of the State Employees’ Insurance Board of Alabama, in a statement. “Especially amid the COVID-19 pandemic, it’s vital that we provide our members the life-changing results Virta is known for delivering, through expert, virtual care delivered right to their home.”

The company said it would use the funding to expand sales and marketing efforts for its services as well as expand its research and development into other non-pharmaceutical therapies for metabolic conditions.

The financing came from Sequoia Capital Global Equities and Caffeinated Capital and brings the company’s total funding to over $230 million and gives it a $1.1 billion valuation, according to a statement.

Alongside Sequoia Capital Global Equities, Caffeinated Capital participated in the round, which brings total funding to more than $230 million and values Virta Health at over $1.1 billion.

Diabetes has long been an attractive condition for startups and has been the first target that companies focused on behavior changes to influence metabolic conditions aim to address. The reason why there are so many diabetes-focused businesses is because of the prevalence of the disease in the U.S. Almost half of adults in the U.S. suffer from obesity, pre-diabetes, or type 2 diabetes and the disease kills thirty people every hour. Diabetes also doubles the risk of death from COVID-19 infections.

Beyond the risks, the costs of treatment are skyrocketing. According to data from the American Diabetes Association released in March 2018, the total costs of treating diagnosed diabetes have risen to $327 billion in 2017 from $245 billion in 2012, when the cost was last examined.

“Given the scope of the metabolic crisis in the U.S. and globally, it cannot be understated how game-changing Virta’s results and care delivery are,” said Patrick Fu, managing partner at Sequoia Capital Global Equities, in a statement. “Virta’s technology-driven, non-pharmaceutical approach has fundamentally changed how diabetes is cared for, and our collective belief in what is possible for population health improvement. This is the future of chronic disease care.”

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