What’s Happening in the Enterprise Software Tech Market?

Exciting Array Ventures Reads, Industry Insights, & Job Opportunities

Array Ventures (website) is the first investor alongside angels with $1M checks in B2B SaaS companies. We invest across the enterprise stack with our thesis of Intelligent Enterprise. Here are a few areas Array Ventures is looking to invest. Connect with us if you are thinking about starting an enterprise software company.

Crowdfunding

We launched a sidecar fund to work with some operators who want to help and invest in our companies. It’s also a 506(c) fund which means we can publicly talk about the fund. With new types of fund structures — rolling funds, Reg CF, and funds like Array taking advantage of 506(c) it’s definitely a space to watch as the venture capital asset class becomes more accessible to everyone.

Welcome new investments to the Array Family:

  • Capsule — Short-form video creation platform. Hiring community manager and designer.
  • Cast — Digital customer success company. Hiring designer, engineer, and marketer.
  • Intentomatic — Future customer dashboard for your SDR/BDRs. Hiring operations lead and product manager.

We started 2021 with our annual meeting followed by a very successful #AllThingsB2B Summit with a stellar line-up and here are the recordings from the sessions and founder pitches if you want to watch.

- Founders from fast growing companies such as Databricks ($28B), DataRobot ($2.7B) talked about the Role of Data in Intelligent Enterprises

- Investor panel discussed the VC Outlook in Enterprise with Mamoon Hamid (Kleiner), Asheem Chandna (Greylock), and Gaurav Garg (Wing)

- Katie Roof (Bloomberg) and Eric Ries (LTSE, The Lean Startup) discussed SPACs

- Jon Oberheide talked about his 0–1–100M ARR growth journey. Duo Security was acquired by Cisco for $2.35B

Portfolio Notable Rounds & Exits:

Job Opportunities at our Portfolio Companies

If you know people in your network please share it with them. Most of our companies are looking for engineers (fullstack, front end, computer vision), marketers, community managers, marketers, Operations. It depends on what future and industry do you want to help change! See this map of our companies by category. You can also see some of the founders talk about their companies here at our annual meeting.

Press Mentions & Business Updates:

  • Shruti Gandhi was the recipient of the Chicago Booth 2021 Distinguished Young Alumni award which is only given to one alum each year. More on my story here.
  • Business Insider featured our efforts in lead a in Capsule and creating an all female investor cap table
  • Podcast on “reverse engineering” your career choices
  • How to become a Venture Capitalist
  • Podcast on how Array ventures invests in solving big problems
  • Vertalo had quite an eventful quarter where 5 leading Reg CF (Crowdfunding) portals — FundersUSA, Fundopolis, Infrashares, Netshares, and Raise Green — will use their APIs
  • EraDB launched EraSearch to provide IT teams with an alternative to open source ElasticSearch software for managing logs at scale
  • Blumira had a solid 2020 and announced plans to double its headcount by the end of the year hiring across leadership roles and growing its sales and engineering teams.
  • Uniform announced it has joined the MACH Alliance, the group of independent tech companies dedicated to advocating for open, best-of-breed technology ecosystems
  • CasaOne’s blog is a good guide to help you create a perfect pandemic comfort living for your study, living room, or bedroom!
  • Future of Fundraising: Blendid raised a succcessful crowdfunded round where can invest as little as $5. In the US a company can now raise up to $5m via crowdfunding.
  • Placer’s blog is a gem of resources of all trends in retail that I highly recommend you follow.
  • Look at how many amazing ads for superbowl, black history month, International Women’s Day and more were powered by Catch&Release’s platform.
  • Lastly if you are a CIO I would not miss the research created by PulseQA team before you make any purchasing decision.

Q1 2021 Market Observations

  • Venture Funding: Enterprise tech closed the pandemic stricken 2020 with $15.3 Bn in funding across 687 financing deals in the Q4 of 2020, 50% more than Q4 2019. This is the highest since 2011 and is a watershed moment to highlight the potential and resilience of enterprise startups. DataRobot received the largest funding round of the quarter ($270 Mn) and we were glad to have Dan Wright, President & CEO at DataRobot at our annual LP event to share his thoughts.
  • Enterprises increasingly shifted to open source software solutions in 2020 with Linkedin and Spotify leading the way.
  • A study done on IT cloud spend highlighted that cost savings from moving to the cloud will triple from 9% in 2020 to 27% in 2021.
  • Here is a Pulse report on what IT leaders are spending on this year.
  • U.S. ecommerce spend was $861.12 Bn in 2020, up by 44.0% y-o-y, the highest annual U.S. ecommerce growth in at least two decades.
  • While we are very bullish on enterprise, another key area where we see improvement is the role of women in tech. While a third of our portfolio companies are women-led, a recent report shed some light on this pressing issue that just 2.3% of VC funding went into women-led startups. The impact of remote working can make a big difference here and we are optimistic there will be a positive change in the role and impact that women in tech will have in the coming year. In a small effort towards that the founders of Capsule and I engineered an all female captable which has never been done before and Business Insider covered our story.

We at Array will continue to fund more B2B women founders and diverse founders in general. Please reach out to us if you are thinking of starting an enterprise company.

If you made it this far then thank you for reading. I like hearing from you as well. Please feel free to respond with your favorite market insight stories!

Also, I try to send this newsletter once a quarter. For updates between newsletters follow me on Twitter and Substack. Share this newsletter with your friends or reply with their email to add them to the distribution. Let me know if you find this valuable and any other things you would like to see!

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Enterprise DeepTech Engineer & Investor at Array Ventures (www.array.vc). AI/ML, Robotics, and BigData.

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By Shruti Gandhi

By Shruti Gandhi

Enterprise DeepTech Engineer & Investor at Array Ventures (www.array.vc). AI/ML, Robotics, and BigData.

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