May 8, 2024 | Uncategorized
Bengaluru-based Parseable announced a seed funding round of US$2.75 million led by Surge and NP-Hard Ventures, earmarking its entry into the expanding log analytics market. This investment is set to fuel Parseable’s mission to innovate in handling the surging volumes of log data generated by modern digital businesses.
The vast amount of data being generated and captured worldwide is forecasted to continue expanding, with global data creation to surpass 180 zettabytes by 2025. As the digital footprint of businesses expands, the concept of log analytics has become increasingly critical. Such data, if analysed and utilised properly, can offer invaluable insights into application performance, user behaviour, and potential security threats. However, the challenge has been in efficiently managing and analysing this data without incurring high operational costs or sacrificing scalability and flexibility.
Parseable addresses these challenges head-on by being cloud native from the ground up. This means the platform is designed to fully exploit the benefits of cloud computing, including scalability, reliability, and flexibility. Unlike traditional log management systems that may struggle to scale or incur high costs as data volumes grow, Parseable leverages fundamental cloud components like storage and compute that allow it to dynamically adjust resources to meet demand. This scalability ensures that businesses can manage their data effectively, regardless of volume, without worrying about the infrastructure overhead.
Parseable uses open formats such as Apache Parquet and Apache Arrow, which are crucial for breaking down the silos of data that typically exist within organizations. By adopting these open standards, Parseable ensures log data is not just accessible but also interoperable, making it easier to integrate with other tools and systems. This openness facilitates a more unified data ecosystem, where businesses can get insights from logs and other data sources together, enhancing overall business intelligence.
Nitish Tiwari, founder of Parseable, said, “Every company I spoke to was frustrated about the cost & complexity of log analytics, while also looking to find new ways to extract insights from their data. We see a foundational shift of moving away from siloed data infrastructure.” The rise of open table formats like Iceberg and Delta Lake, with S3 as persistence on one side; and open application log formats like OpenTelemetry on the other side are a clear testament to this shift.
“We’re very excited to partner up with Parseable and support them in their journey to supercharge log analytics with their developer-first approach to observability”, said Micha “mies” Hernandez van Leuffen, cofounder and partner at NP-Hard Ventures.
As businesses continue to generate vast quantities of log data, it is increasingly evident that there is a need for innovative, efficient, and scalable log analytics solutions like Parseable. With its cloud-based design, commitment to open formats, and focus on scalability and flexibility, Parseable offers a promising solution that meets the demands of the modern digital landscape, enabling organizations to unlock the full potential of their log data.
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About Parseable
Parseable Inc, is the core developer of Parseable, the modern, cloud native log analytics platform. Parseable is built from the ground up, to enable businesses to deploy large scale log data workloads in environments of their choice, while capturing as much value from their log data as possible. Parseable is used across the globe by leading fintechs, cybersecurity firms, healthcare and more. To know more, please visit: www.parseable.com
About Peak XV
Peak XV (formerly Sequoia Capital India & SEA) is a leading venture capital firm investing across India, Southeast Asia and beyond. Peak XV (pronounced Peak Fifteen) was the name used for Mount Everest before it was called that. Over the last 18 years of our operations in the region, Peak XV has grown to manage over USD 9 billion in capital across 13 funds and invested in over 400 companies. The portfolio has seen 20 IPOs and multiple successful M&As, resulting in USD 4.6 billion in realized exits so far.
To know more, please visit: www.peakxv.com
About Surge
Surge is Peak XV’s rapid-scale-up program. Surge combines up to USD 3 Mn of seed capital with company-building workshops, a global curriculum and support from a community of exceptional mentors and founders. The program’s goal is to supercharge early-stage startups in India and Southeast Asia and give founders an unfair advantage, right out of the gate. For more information on Surge, visit https://surge.peakxv.com/.
May 8, 2024 | Uncategorized
Happiest Minds Technologies Limited (NSE:HAPPSTMNDS), a ‘Born Digital. Born Agile’, digital transformation and IT solutions company, today announced its consolidated results for the fourth quarter and year ended March 31, 2024, as approved by its Board of Directors.
Ashok Soota, Executive Chairman, said “Happiest Minds has demonstrated resilience in achieving our financial objectives for the long term. The newly created Gen AI business unit, creation of six new Industry Groups and successful closure of two acquisitions has put us back on course towards accomplishing our long-term vision of US $ 1Bn in revenues by FY31.”
Financial highlights
Quarter ended March 31, 2024
- Revenue in constant currency grew by 1.4% q-o-q and 9.5% y-o-y
- Operating Revenues in US$ stood at $50.1 million (growth of 1.4% q-o-q: 9.1% y-o-y)
- Total Income of ₹ 44,250 lakhs (growth of 1.9% q-o-q; 14.5% y-o-y)
- EBITDA of ₹ 10,822 lakhs, 24.5% of Total Income (growth of 2.9% q-o-q; 7.6% y-o-y)
- PAT of ₹ 7,198 lakhs (growth of 20.7% q-o-q; 24.8% y-o-y)
- Free cash flows of ₹ 10,744 Lakhs
- EPS (diluted) for the quarter at ₹ 4.79
Year ended March 31, 2024
- Revenue in constant currency grew by 11% y-o-y
- Operating Revenues in US$ stood at $196.1 million (growth of 10.3% y-o-y)
- Total Income of ₹ 171,003 lakhs (growth of 17.9% y-o-y)
- EBITDA of ₹ 42,122 lakhs, 24.6% of Total Income (growth of 10.9% y-o-y)
- PAT of ₹ 24,839 lakhs (growth of 7.5% y-o-y)
- Free cash flows of ₹ 41,069 Lakhs
- EPS (diluted) for the full year of ₹ 16.73
Venkatraman Narayanan, MD & CFO, said “Happy to report a full year revenue growth in constant currency of 11% and EBITDA of 24.6%. I am proud of our performance especially in the face of a challenging year faced by our industry. Acquisition of PureSoftware Technologies and Macmillan Learning should help us in our growth story while delivering value to all our stakeholders”
Joseph Anantharaju, Executive Vice Chairman, said, “We have onboarded ten new customers and have built up a good sales pipeline for FY25. This, along with the cross-selling opportunities afforded by our acquisitions, we are well positioned for a rewarding FY25. Our Customer Happiness Survey this year has yielded excellent and best net promoter scores, validating our compelling customer value proposition and quality execution.”
Clients:
- 250 as of March 31, 2024
- 10 additions in the quarter
Our People – Happiest Minds:
- 5,168 Happiest Minds as of March 31, 2024
- Trailing 12-month attrition of 13.0% (14.1% in the previous quarter)
- Utilization of 75.1%, from 76.7% in last quarter
Q4 FY24 Key wins
- For Enercon, a leading wind energy technology company, Happiest Minds was chosen as a strategic partner to build their platform which optimizes wind energy generation.
- For MindSculpt Analytics, a Healthcare Solutions Company, Happiest Minds is building an advanced AI Medical Preventive & Diagnostic solution.
- For a prominent credit union service organization, Happiest Minds is building two highly replicable GenAI solutions that help with training their employees on performance management and customer support.
- For a South East Asian Bottling company, Happiest Minds is engaged in building GenAI solutions that allow employees to converse in both local language and English against Enterprise knowledge.
- For the professional services arm of a global hyperscaler, Happiest Minds was chosen to design and configure an end-to-end secure and scalable connected vehicle platform on their cloud platform.
- For a global consumer products company (CPG), this new win entails Happiest Minds to revamp the User Experience of front facing applications of their Distributed Management Systems.
- For the world’s premier entertainment company and an existing customer, Happiest Minds expanded its presence to provide product engineering services for their Imagineering division.
- For a global movie chain, Happiest Minds is providing digital transformation services leveraging the Pimcore® Platform.
- For a supply chain enabler in the healthcare industry, Happiest Minds is their strategic partner in engineering and development for their mission critical applications.
- For a EduTech company which enables regional universities drive accelerated online programs, Happiest Minds was chosen to provide digital engineering services for their technology platform.
- For an international education services company, Happiest Minds is helping to build next-generation solution for increased engagement and improved efficiency with students and universities.
- For a reputed MedTech company, this new win entails Happiest Minds to build their asset management platform to provide actionable insights to the field service technicians.
Award Wins:
- Happiest Minds is recognized among ‘Top 50 India’s Best Workplaces™ in Health and Wellness 2023’by Great Place To Work® Institute
- Happiest Minds awarded the ‘Best Tech for Security’ Award at the 3rd Edition of the IDEA Awards
- Happiest Minds awarded the ‘Top Firms to Work for in AI & Analytics’ and Sridhar Mantha recognized as ‘AI Leader of the Year’ at the 3AI ACME Awards
Analyst Mentions
- Happiest Minds is ‘Aspirant’ in Retail IT Services – Everest
- Happiest Minds is ‘Pioneers’ in Service Providers ESG Index 2023-2024 – Avasant
Announcements
- The Board of Directors of the Company at their meeting held on May 6, 2024 has recommended a final dividend of ₹3.25 per equity share of face value ₹ 2/- for the financial year 2023-24 subject to shareholder approval.
May 8, 2024 | Uncategorized
In recognition of World Asthma Day 2024, Alkem Laboratories (Alkem) today announced 600 to 700 camps across India, collaborating with nearly 100 hospitals in tier-1 and tier-2 cities under its “Reliever Free India” initiative. This nationwide initiative was launched in 2023 with an aim to revolutionize asthma management by advocating for a shift in focus from reliance on reliever medications to the importance of controller medications. Reliever medications provide quick relief during asthma symptoms by opening up the airways. Controller medications are taken regularly to prevent asthma symptoms and reduce inflammation in the airways. After a successful first year, Alkem is intensifying the campaign in its second year.
Asthma affects a staggering 262 million people globally, causing recurrent episodes of wheezing, breathlessness, chest tightness, and coughing. Despite advancements in medical treatment, asthma remains a significant challenge for patients and healthcare providers alike. Alkem recognizes the critical role that education plays in empowering individuals to effectively manage their asthma and lead fulfilling lives.
The spokesperson of Alkem Laboratories said, “We’ve engaged with over 500 camps since the start of our campaign. This year, we’re expanding our commitment by organizing at least 600 camps and clinics to raise awareness about asthma and its management. Our goal is to empower patients with the knowledge they need to take control of their health. Through the ‘Reliever Free India’ campaign, we’re promoting a proactive approach to asthma management, aiming to improve outcomes and enhance quality of life for individuals with this condition.”
The “Reliever Free India” campaign emphasizes the importance of using controller medications for optimal asthma management. While reliever medications offer immediate relief during asthma attacks, they do not address the underlying inflammation that contributes to the condition’s chronic nature. Over-reliance on relievers can lead to poor long-term outcomes and increased risk of exacerbations. Through this campaign, Alkem Laboratories seeks to educate patients, healthcare professionals, and the general public about the benefits of controller medications in preventing asthma symptoms and reducing the need for rescue medication.
This World Asthma Day, Alkem Laboratories invites everyone to join hands in raising awareness, fostering understanding, and empowering individuals with asthma to live their lives to the fullest. Together, we can create a world where asthma is not a barrier to a healthy and fulfilling life.
For more information about the “Reliever Free India” initiative, please visit https://thehealthylungs.com/
May 6, 2024 | Business
Event Summary:
Cartel investigations are high-stakes, complex legal matters. If you or your company are facing scrutiny for potential cartel activity, its crucial to have a comprehensive understanding of the investigative process and your defense options.
Join our speakers in this CLE webcast as they provide you with a roadmap for navigating cartel investigations effectively. Our expert speakers will break down the key stages of an investigation, from initial inquiries to potential resolutions, and equip you with the knowledge and tools to protect your legal and financial interests.
Key Topics:
– Identifying the Red Flags
– Understanding the Investigative Process
– Building a Strong Defens0065
– Cooperation vs. Non-Cooperation
– Negotiating Resolutions
– Protecting Your Rights
Speakers/Faculty Panel
Georgia Tzifa
Counsel
Wilmer Cutler Pickering Hale & Dorr LLP
Kathryn Lloyd
Senior Associate
Mayer Brown International LLP
Jindrich Kloub
Partner
Wilson Sonsini Goodrich & Rosati
James W. Attridge
Partner
Axinn, Veltrop & Harkrider LLP
For an updated list of the faculty panel, please visit:
Cartel Investigations: A Blueprint for Defense
About The Knowledge Group
Founded in November 2006, The Knowledge Group has been at the forefront of providing quality continuing education programs for lawyers, accountants, financial executives, risk and compliance specialists, human resources professionals, technology officers, and business consultants in a wide range of industries.
The Knowledge Group strives to be the best-in-class provider of continuing education by bringing forth relevant content you cant get anywhere else.
Contact:
Therese Lumbao
Director, Account Management & Member Services
The Knowledge Group, LLC
info ( @ ) theknowledgegroup dot org
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