Here are five (actually, more) technology news updates, insights, chatter, and plenty more to start your day for Wednesday, August 4, 2021. Sip up.
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1. Funding – Workspace Scheduling Software: Thoma Bravo and JMI Equity have invested in Condeco Software, a provider of workspace scheduling technology. Members of Condeco’s management team will remain significant shareholders in the business, the announcement said.
2. M&A – IIoT Remote Monitoring:Ivanti Wavelink, the supply chain business unit of Ivanti, is acquiring an industrial internet of things (IIoT) platform owned by the WIIO Group. The platform acquisition will “enable customers to get a 360 degree view of their IIoT equipment, proactively identify and remediate issues, and build scalable applications that drive operational efficiency,” Ivanti Wavelink said.
3. Talent – Hyperscale Infrastructure:Fungible has hired Toby Owen as VP of product, reporting to CEO Eric Hayes. Owen will lead oversee Fungible’s product portfolio — which seeks to “revolutionize the performance, economics, reliability and security of scale-out data centers across all markets,” the company says.
B. Technology Earnings: Quarterly Financial Results
The following companies have released quarterly financial results and/or business performance metrics.
1. CDW: The technology reseller announced Q2 2021 financial results. Key metrics included:
Total net sales of $5.146 billion, up 17.9 percent from $4.366 billion in the second quarter of 2020.
Net income of $274 million, up 44.9 percent from $189 million in the second quarter of 2020.
2. RingCentral: The provider of UCaaS and contact center solutions announced Q2 of 2021 financial results. Key metrics included:
Total revenue was $379 million, up 36 percent from $278 million in Q2 of 2020.
A net loss of $111 million, compared to a slight profit in Q2 of 2020.
3. Growth – Security Ratings:BitSight‘s annual recurring revenue (ARR) surpassed $100 million in the first half of the company’s current fiscal year. Subscription ARR growth included a 67% increase in year-over-year new and upsell ARR; and a 36% increase in active users. Actual revenue and profit dollar figures were not disclosed. BitSight’s software allows customers to measure and manage cyber risk.
C. Channel Chiefs, Partner Programs and Strategic Alliances
1. Talent – Distribution: ScanSource has promoted Tony Sorrentino to president, North America. Sorrentino now oversees all aspects of the North America hardware business, including sales, supplier relationships and operations, the point-of-sale (POS) hardware distributor says.
2. Channel Chief and More – External Data Platform:Explorium, which recently raised $75 million in Series C funding, has made the following executive hires:
Tim Marsh joins as VP of alliances and channels. He previously held partner- and alliance-related roles at Mulesoft, Acquia, Salesforce and EMC.
Sam Pugmire joins as chief revenue officer. He previously was VMware’s director of worldwide sales.
Ajay Khanna joins as chief marketing officer. He previously held key posts at Reltio, Veeva Systems, Oracle, Kana and Progress Software.