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Platform as a Service (PaaS), Whistleblowing Software, Developer Onboarding Platform

May 23, 2023

đź‘‹ Welcome to issue 24!

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Startup Spotlight

🚢 Porter

Founded: 2020 in New York, US

Product: Porter is a Platform as a Service (PaaS)1 that operates in the user's own AWS/GCP cloud. It simplifies the deployment of applications by abstracting the complexity of Kubernetes. Users can easily deploy code, automate DevOps processes, and benefit from AWS/GCP services.

Quick Take: 2023 is here, and yet many developers still struggle with deploying their applications to the cloud, as if they were stuck in the year 2015. While Heroku has long been the standard cloud deployment solution due to its affordability and user-friendly interface, it comes with its fair share of downsides. Notably, its pricing is rapidly increasing, and it lacks the granular control that developers often require.

In response to these challenges, many companies have turned to Kubernetes. Kubernetes serves as a powerful platform for building platforms, offering a more comprehensive solution. However, it is important to recognize that Kubernetes is not the ultimate endgame but rather a superior starting point. By leveraging Porter, developers can enjoy the benefits of Kubernetes without being overwhelmed by its intricacies.

Total Funding (public source): $1,500,000

Comparables: Qovery

đź’Ł Walor

Founded: 2021 in Copenhagen, Denmark

By: Frederik Binow, CEO - ex-Head of Success Management @ MXNEY.io

Product: Walor is a whistleblowing platform that assists companies in complying with the EU Whistleblowing Directive2. It offers a secure and anonymous method for employees to report wrongdoing, while aiding companies in investigating and addressing these reports.

Quick Take: Historically, whistleblowing software has primarily catered to the enterprise segment. However, organizations like Walor have recognized the significance of extending this technology to small and medium-sized enterprises (SMEs) as well. By offering whistleblowing software specifically tailored to SMEs, Walor aims to bridge the gap and make ethical reporting more accessible across the business landscape.

Implementing whistleblowing software plays a pivotal role in fostering a culture of transparency, accountability, and ethical behavior within an organization. By utilizing such software, companies can effectively detect and prevent corruption, safeguarding their reputation and establishing trust with stakeholders. This proactive approach not only protects the organization's interests but also contributes to the development of a healthy and sustainable business environment.

Total Funding (public source): N/A

Investors: N/A

Comparables: Whispli

đź“ť Silo Team

Founded: 2022 in Stockholm, Sweden

By: Rasmus Stjernström, CEO - ex-Head of Product Design @ Nodes & Links; Ida Stjernström, CCO - ex-Relationship Manager @ memmo.me

Product: Silo Team is developing an onboarding/offboarding and retention platform to help tech teams onboard/offboard developers faster and retain top talent through automation.

Quick Take: When businesses are trying to stretch their resources, the first thing they often reduce is their headcount. However, the second biggest cut comes in the form of software spend, especially in the current turbulent market conditions that are shaking up startups worldwide. But there are certain SaaS tools they simply cannot live without.

One critical area where startups feel the impact is the technical onboarding process. It brings along numerous pain points, and if not properly managed, it can lead to a sense of isolation among new hires. This isolation can be detrimental as it increases the chances of developers seeking new employment within weeks of feeling dissatisfied with their role. Interestingly, replacing a developer typically costs the company three times their salary on average (read more about it here). Silo Team aims to address these challenges and foster a smooth onboarding experience for new hires.

Total Funding (public source): $100,000

Investors: Sting, Propel Capital (an investment vehicle connected to Sting)

Do you know of a startup that we should write about in our newsletter? Please send us a reply!

Fresh Powder

  • Jia: Blockchain-based fintech for micro and small businesses in emerging markets, raised $4.3m seed funding. Led by TCG Crypto, with participation from BlockTower, Hashed Emergent, Saison Capital, Global Coin Research, and angel investors Packy McCormick, Anand Iyer, Jared Hecht, and Rory Eakin.

  • Deployed: London-based collaborative Statement of Work platform, raised $4m in seed funding. Co-led by Amrock Ventures and M12 Microsoft Ventures, with participation from Portfolio Ventures, Mayfield Fund, HERmesa, and Angel Academe.

  • Tangible: Sustainable building materials tool, raised $3m seed funding. Led by Foundamental and Fifty Years, with participation from Redstone Built World Fund, Pi Labs, Asymmetric, and Deco Ventures.

Tidbits

  • Meta had one heck of a Monday! The Irish Data Protection Commission (DPC) came down on them like a ton of virtual bricks, slapping them with a mind-boggling $1.3 billion fine. Yep, that's billion with a "b"! It's almost like winning the not-so-coveted "Oops, We Messed Up" award. In addition to the hefty fine, Meta has been ordered to cease transferring EU data to the US.

  • How to Split Equity Among Co-Founders by Michael Seibel: Splitting equity among co-founders is crucial, and YC recommends equal splits. Why? Because these co-founders are your comrades in the startup battlefield. You'll practically live with them, even more than your relatives. They'll help you tackle vital company decisions, and when victory comes, they'll be the ones cheering alongside you. It's all about fair shares and celebrating success with your startup squad.

Miscellaneous

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Thanks for reading. See you on May 30th!