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Indianapolis-based Malomo raises $2.8 million to turn order tracking into a branded customer experience
Yaw Aning named Malomo, the service he launched for small businesses to turn their order-tracking services into branded customer experiences, as a tribute to his mother, who was a small business owner herself.
“Malomo” means flowers in Swahili and it was the name of Aning’s mother’s small soap-making business which she built over the years — even as she was battling the cancer to which she would eventually succumb.
The small Indianapolis startup has just raised $2.8 million to expand its services providing a new marketing channel for the Shopify retailers of the world who can always use more ways to reach new customers, Aning said.
The financing came from the San Francisco-based firm, Base 10, and New York’s Harlem Capital, along with commitments from previous investors Hyde Park and High Alpha.
Aning came to entrepreneurship as an Orr Fellow, an Indiana program that takes 10 graduates and places them in high-growth companies. While Aning worked in corporate finance, he was always interested in the startup world, and started is first company, Pocket Tales, an online reading game for children.
That business was followed by Sticks and Leaves, a web design agency that gave Aning his first view into the opportunity that order tracking presented as a space for a better customer experience.
Along with co-founder Anthony Smith, Aning built a service that connects with a single click to the Shopify platform and creates custom, branded tracking pages for each brand. “It’s a landing page for a brand. They use it like they would use any marketing asset,” Aning said. “The strategy is to build up integrations to the other tools merchants use to create rich experiences leveraging those tools.”
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HackerRank acquires Mimir, an online platform for computer science courses
HackerRank, a popular platform for practicing and hosting online coding interviews, today announced that it has acquired Mimir, a cloud-based service that provides tools for teaching computer science courses. Mimir, which is HackerRank’s first acquisition, is currently in use by a number of universities, including UCLA, Purdue, Oregon State and Michigan State, as well as by corporations like Google.
HackerRank says it will continue to support Mimir’s classroom product as a standalone product for the time being. By Q2 2020, the two companies expect to have an initial release of a combined product offering.
“HackerRank will work closely with professors, students and customers to help student developers learn, improve and assess their skills from coursework to career,” Vivek Ravisankar, the co-founder and CEO of HackerRank, told me. “Ultimately, we envision a combined product that allows students to obtain both a formal academic education as well as practical skills assessments which can help build a strong and successful career.”
The two companies did not disclose the financial details of the acquisition, but Indiana-based Mimir previously raised a total of $2.5 million and had eight employees at the time of the acquisition, including the three-person executive team.
As the companies stress, both focus on allowing developers for a variety of backgrounds to successfully vie for jobs, no matter where they went to school. HackerRank argues that the combination of its existing services and Mimir’s classroom tools will “provide computer science classrooms with the most comprehensive developer assessment platform on the market; allowing students to better prepare for real-world programming and universities to more accurately evaluate student progress.” The idea here clearly is to expand HackerRank’s reach into the world of academia and expand the talent pool for its customers who are looking to recruit from its users, but Ravisankar also noted that he hopes the combined strengths of HackerRank and Mimir will allow students to combine their academic learning with market learning. “This will ensure that they’re equipped with the skills that their future workplaces require,” he said.
Mimir isn’t so much a tool for massive online courses but instead focuses on helping teachers and students manage programming projects and assignments. To do so, it offers a full online IDE, as well as support for Jupyter notebooks, as well as more traditional teaching tools for creating quizzes and assignments. The built-in IDE supports 40 programming languages, including Python, Java and C. There’s also a tool for detecting plagiarism.
Currently, about 15,000 to 20,000 students are using Mimir’s platform for their coursework. That’s dwarfed by the 7 million developers who have signed up for HackerRank so far, but not all of those are active, while, almost by default, all of Mimir’s users will be on the job market sooner or later.
“Mimir has made a name for itself by becoming a secret weapon for computer science programs — Mimir equips them with the tools to make a real difference in the education of developers,” said Prahasith Veluvolu, co-founder and CEO of Mimir. “Working with HackerRank is a natural evolution of our mission, allowing our customers to scale their programs while simultaneously giving students an unmatched classroom experience to prepare them for the careers of tomorrow.”
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The Pill Club is donating 5,000 units of emergency contraception
Eleven million women in the U.S. live more than an hour from an abortion clinic, a number expected to increase as facilities close up shop following new restrictions on women’s healthcare in several states.
Planned Parenthood and other leading nonprofits continue to put up a good fight while private “mission-driven” companies in the burgeoning women’s health tech sector are all talk and little action. But a new effort from The Pill Club, an Alphabet-backed birth control and prescription delivery startup, may lead to change in the nascent sector.
The Pill Club has partnered with Power To Decide, a nonprofit campaign to prevent unplanned pregnancies, to dole out free emergency contraception to women in need. Together they’ll distribute 5,000 units of a generic form of Plan B, a pill taken after sex to stop a pregnancy before it starts. For the next three months The Pill Club will also match all donations up to $10,000 made to Power To Decide’s Contraceptive Access Fund, which helps low-income women access contraception. Anyone can sign up now to receive free units.
The Pill Club’s decision to share resources with a nonprofit comes as several states this year have imposed new laws restricting or outlawing abortion procedures. Alabama, for example, earlier this year passed a Senate bill banning abortion in the state. Arkansas, Indiana, Kentucky and others have also OK’d new restrictions on abortion.
This is The Pill Club’s first effort to donate emergency contraception to populations in need, as well as its first partnership with a not-for-profit entity. Co-founder and chief executive officer Nick Chang says the startup thought long and hard about how it could be most helpful to women in this political climate.
“We thought, what can we do to support women in these states in ways that other companies may not be able to?,” Chang tells TechCrunch. “This is the moment where private companies can really go out and benefit women in ways that may not be supported in other avenues. Since we have the means and ability to do it in ways that are more convenient and private, it’s our opportunity to drive access and support.”
Founded in 2014 and backed with more than $60 million in venture capital funding, one might argue The Pill Club should have forged partnerships like this from the get-go. Curious what efforts other well-funded birth control startups were making to support women in 2019, especially women in contraceptive deserts who are likely unfamiliar with the new line of consumer birth control brands, I reached out to The Pill Club’s competitors Nurx, a fellow birth control delivery company, and Hers, a line of women’s healthcare products owned by the billion-dollar startup Hims.
Both companies emphasized the fact that many of their customers live in Southern states, or the region most impacted by new limitations to abortion care, but didn’t mention any new efforts to increase access, like partnerships with nonprofits or donations. Hers provided this quote from the company’s co-founder Hilary Coles, which didn’t answer my question but did make clear the company is thinking about serving contraceptive deserts:
“At Hers, our mission is to provide women with more convenient and affordable access to the healthcare system,” Hers co-founders Hilary Coles said in a statement. “Approximately 3.5 million patients go without care because they cannot access transportation to their providers and 19.5 million women have reported not having access to a clinic that provides birth control specifically. That’s simply unacceptable. Closing the gaps caused by geographic barriers between patients and their doctors was one of the primary challenges we set out to address when founding Hers. We’re proud to be a resource for women nationwide, including those who live in contraceptive deserts who may not otherwise have access to the care they need. It’s crucial to Hers to be part of the solution in alleviating the pain points women experience within the healthcare system.”
It’s not the responsibility of these companies to improve the political landscape of the U.S., but with $340 million in private capital shared between them, the trio does have a unique opportunity to innovate, share, collaborate and influence. After all, that’s what’s so great about healthtech; it brings new, innovative solutions to an industry characterized by antiquated systems and slow movers. For once, Silicon Valley’s “move fast and break things” mantra may be appropriately applied to a facet of healthcare. Women need sustained access to contraception and abortion care. Fast.
“This is the time when private companies can step in,” Chang concluded. “We can come in and help out and it’s our responsibility to do that.”
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Venture capital investment in US companies to hit $100B in 2018
So many new unicorns valued at $1 billion-plus, countless $100 million venture financings, an explosion of giant funds — it’s no surprise 2018 is shaping up to be a banner year for venture capital investment in U.S.-based companies.
There are more than 2.5 months remaining in 2018 and already U.S. companies have raised $84.1 billion — more than all of 2017 — across 6,583 VC deals as of Sept. 30, 2018, according to data from PitchBook’s 3Q Venture Monitor.
Last year, companies raised $82 billion across more than 9,000 deals in what was similarly an impressive year for the industry. Many questioned whether the trend would — or could — continue this year, and oh, boy has it. VC investment has sprinted past decade-highs and shows no signs of slowing down.
Why the uptick? Fewer companies are raising money, but round sizes are swelling. Unicorns, for example, were responsible for about 25 percent of the capital dispersed in 2018. Those companies, which include Slack, Stripe and Lyft, have raised $19.2 billion so far this year — a record amount — up from $17.4 billion in 2017. There were 39 deals for unicorn companies valuing $7.96 billion in the third quarter of 2018 alone.
Some other interesting takeaways from PitchBook’s report on the U.S. venture ecosystem:
- Nearly $28 billion was invested into early-stage startups in 2018, with median deal size increasing 25 percent to $7 million last quarter.
- Ten funds have raised more than $500 million this year and another five, including Lightspeed Venture Partners and Index Ventures, have closed on more than $1 billion.
- Companies based on the West Coast were responsible for 54.7 percent of deal value in 3Q but other regions are catching up: New England (12 percent), the Mid-Atlantic (20 percent) and The Great Lakes (5 percent).
- Investment in U.S. pharma and biotech has reached a new high of $14 billion already in 2018.
- Corporate venture capital activity is heating up. This year, CVCs invested $39.3 billion in U.S. startups, more than double the $15.2 billion invested in 2013.
- VC-backed companies are exiting via buyouts more than ever.
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