Startups | TechCrunch

CloudPay, a payroll services provider, lands $120M in new funding

Kyle Wiggers — Thu, 08 Aug 2024 22:20:26 +0000

In 1996, two companies, Patersons HR and Payroll Solutions, formed a venture called CloudPay to provide payroll and payments services to enterprise clients. CloudPay grew quietly over the next several decades, adding workflow automation features to maintain pace with upstart rivals. It’s still growing, CFO Andy Thomson assures TechCrunch. Thomson claims that CloudPay is handling […]

A comprehensive list of 2024 tech layoffs

Cody Corrall, Alyssa Stringer — Thu, 08 Aug 2024 22:00:00 +0000

The tech layoff wave is still going strong in 2024. Following significant workforce reductions in 2022 and 2023, this year has already seen 60,000 job cuts across 254 companies, according to independent layoffs tracker Layoffs.fyi. Companies like Tesla, Amazon, Google, TikTok, Snap and Microsoft have conducted sizable layoffs in the first months of 2024. Smaller-sized […]

Archer to set up air taxi network in LA by 2026 ahead of World Cup

Rebecca Bellan — Thu, 08 Aug 2024 20:00:00 +0000

Los Angeles is notorious for its back-to-back traffic. Three events that promise to bring in millions of spectators from around the world — the 2026 World Cup, the Super Bowl in 2027 and the 2028 Olympics — have LA officials searching for a range of new mobility solutions to address its congestion problems. But they’re […]

Cohere co-founder Nick Frosst thinks everyone needs to be more realistic about what AI can and cannot do

Rebecca Szkutak — Thu, 08 Aug 2024 18:15:05 +0000

AI companies are gobbling up investor money and securing sky-high valuations early in their life cycle. This dynamic has many calling the AI industry a bubble. Nick Frosst, a co-founder of Cohere, which builds custom AI models for enterprise customers, recently said on TechCrunch’s Found podcast that he doesn’t think the AI industry is in […]

Flint Capital raises a $160M through an unusual fund-raising strategy

Margaux MacColl — Thu, 08 Aug 2024 17:00:00 +0000

Flint Capital just closed its third fund at $160 million. Its has a unique strategy for finding its limited partner investors.

Chime and Dave execs are coming to TechCrunch Disrupt 2024

Mary Ann Azevedo — Thu, 08 Aug 2024 15:00:00 +0000

The rise of neobanks has been fascinating to witness, as a number of companies in recent years have grown from merely challenging traditional banks to being massive players in and of themselves. Chime and Dave are just two examples of such neobanks. Hear from Chime product officer Madhu Muthukumar and Dave CEO Jason Wilk at […]

Cocoon is transforming steel production runoff into a greener cement alternative

Brian Heater — Thu, 08 Aug 2024 13:00:00 +0000

Cocoon is a new startup built on the belief that greener steel production and the creation of concrete slag doesn’t have to be an either/or proposition.

Anduril raises $1.5B at a $14B valuation

Aria Alamalhodaei — Thu, 08 Aug 2024 04:01:00 +0000

The Palmer Luckey-founded defense startup wants to become a serious rival to longstanding kingpins, and has been clocking some big wins.

UK satellite startup Blue Skies Space wants to sell astronomy data ‘as a service’

Paul Sawers — Wed, 07 Aug 2024 23:00:00 +0000

The satellite is designed to complement data provided by existing astronomical efforts such as that of the famed Hubble Telescope.

From Skims to Stripe, here are the startups that are likely — or definitely — not having IPOs this year

Rebecca Szkutak — Wed, 07 Aug 2024 22:05:00 +0000

Last year’s investor dreams of a strong 2024 IPO pipeline have faded, if not fully disappeared, as we settle in to the second half of the year. This year delivered four venture-backed tech IPOs — Reddit, Astera Labs, Ibotta and Rubrik — in March and April, which made it seem like this year could spur […]

Techstars is laying off 17%, ending its J.P. Morgan-backed programs

Dominic-Madori Davis — Wed, 07 Aug 2024 20:31:34 +0000

Techstars is cutting 17% of its staff and will end its $80 million J.P. Morgan-backed AdvancingCities program once the fund is completely deployed.

Mechanical Orchard, led by ex-Pivotal CEO, scores $50M round led by Alphabet’s GV

Kyle Wiggers — Wed, 07 Aug 2024 16:43:55 +0000

Digital transformation — the process of transforming outdated apps and processes with cloud technologies and digital workflows — can be a risky undertaking. In 2023, Harvard Business Review reported that while 89% of large companies have a digital and AI transformation underway, they’ve only captured 31% of the expected revenue uplift and 25% of anticipated […]

Bandana lands new investment to help hourly wage workers find good jobs

Ron Miller — Wed, 07 Aug 2024 15:15:12 +0000

Most startups are looking to solve a problem inside a business, but Bandana, a New York City-based startup, has a different goal. It wants to help people at the lower end of the wage scale find better jobs with higher wages and good benefits, all while being closer to home to reduce commuting time. Today, […]

Flourish Ventures on repeat founders, emerging markets and when not to hop on the AI bandwagon

Mary Ann Azevedo — Wed, 07 Aug 2024 14:24:42 +0000

In today’s episode of Equity Podcast, Mary Ann Azevedo talked to Flourish Ventures co-founders Tilman Ehrbeck, Emmalyn Shaw and Arjuna Costa about a variety of topics, including how their investment themes have evolved in the past five years and what trends they’re most excited about. We also got their opinion on M&A deals in fintech, […]

Database startup Neon nabs a Microsoft investment

Kyle Wiggers — Wed, 07 Aug 2024 13:00:00 +0000

In a sign that big tech companies are ready and willing to shell out cash for database tech, Neon, a startup building an open source alternative to AWS Aurora Postgres, on Wednesday announced that Microsoft’s venture arm M12 led a $25 million strategic investment in its business. The capital will go toward R&D, Neon co-founder […]

Ex-Clubhouse employees take another swing at a social networking startup

Dominic-Madori Davis — Wed, 07 Aug 2024 12:00:00 +0000

The ex-Clubhouse, Netflix employees raised $1.65M for an app that combines social media, networking, and dating.

Fintech Payoneer is buying 5-year-old global payroll startup Skuad for $61M in cash

Mary Ann Azevedo — Wed, 07 Aug 2024 11:30:00 +0000

New York-based fintech Payoneer has acquired Skuad, a Singapore-based global HR and payroll startup, for $61 million in cash, the company exclusively told TechCrunch. Payoneer said it could also pay up to another $10 million, contingent on if Skuad meets various performance goals within the first 18 months of the acquisition. Payoneer also committed to […]

Airbnb details plans to expand beyond short-term rentals, including co-hosting and relaunching ‘experiences’

Sarah Perez — Tue, 06 Aug 2024 22:48:51 +0000

Airbnb CEO Brian Chesky suggested on Tuesday’s Q2 earnings call with investors that the company will soon expand into new products and services, including co-hosting, a relaunch of Airbnb’s “experiences,” guest services and more. The company positioned the upcoming offerings as a way for Airbnb to grow its revenue by becoming known for doing more […]

Nearly a decade before co-founding Cohere, Nick Frosst thought he was late to AI

Rebecca Szkutak, Dominic-Madori Davis — Tue, 06 Aug 2024 17:10:07 +0000

When Nick Frosst was in college over a decade ago, he was worried he was a little late to the AI game. Frosst, a co-founder of enterprise AI startup Cohere, said on a recent episode of TechCrunch’s Found podcast that he came to this conclusion in 2012 after Geoffrey Hinton released his research that showed […]

Bluesky adds Techdirt founder Mike Masnick to its board

Sarah Perez — Tue, 06 Aug 2024 16:57:48 +0000

According to a company blog post, the team was already leaning on Masnick for advice, so adding him to the board is a "natural next step" in formalizing their relationship.