Skip to main content

HeadSpin Raises $60 Million, Arora Joins Board

Palo Alto Networks CEO Nikesh Arora. Arora has been appointed a board member at HeadSpin.
image: World Economic Forum/swiss-image.ch/Photo RÈmy Steinegger, via CC BY-NC-SA 2.0 license.

HeadSpin, a Palo Alto-based startup that develops software to aid performance of mobile apps, has announced $60 million in Series C funding led by Dell Technologies Capital and ICONIQ Capital, with participation from Tiger Global, Kearny Jackson, and Alpha Square Group alongside a host of angel investors, to name a few, LinkedIn’s Jeff Weiner, Facebook’s Kevin Weil and Andrea Moore, Uber’s Manik Gupta, Caviar’s Gokul Rajaram, Spotify’s John Bonten and Stripe's Amber Feng.

The new funding brings the total raised by HeadSpin to $117 million and values it at $1.16 billion. Alongside the investment, HeadSpin also announced the appointment of Palo Alto Networks CEO Nikesh Arora to its board.

HeadSpin, which launched in 2015, says it has doubled its annual revenue year-over-year since that year. The company currently boasts more than 1,000 enterprise customers, including notable names like Microsoft, Airbnb, Walmart, Uber, ByteDance, BYJUs, and Bandai Namco.

In just four years of existence, HeadSpin has opened regional offices in London, Tel Aviv, Berlin, and Cape Town in addition to its Palo Alto headquarters. The regional offices were opened mainly to address demand in Europe, the Middle East and Africa, HeadSpin says.

"HeadSpin has achieved remarkable results in only four years,” Dell Technologies Capital MD Deepak Jeevankumar said in a statement. “Not only has the team managed exceptional sales execution, but it created a new solution category that is now the standard for how the best consumer and enterprise G2000 companies ensure top-notch connected experiences for their users and customers. HeadSpin today is one of the fastest-scaling software companies I’ve seen in my 10 years of investing and has truly exceptional growth potential.”

“HeadSpin is well-positioned to take advantage of this huge market opportunity as enterprises transition to providing higher-quality digital and mobile experiences.” HeadSpin co-founder and EO Manish Lachwani added. “We’re privileged to be able to grow the company with our excellent team, partners and investors.”





Comments

Most Read Posts

Tesla Now World's Most Valuable Carmaker

Electric car maker Tesla has been on a tear as of late, with its share price having shot past $1,100 a pop and given the company status as the world's most valuable automaker. Currently (as of writing), Tesla has a market capitalization hovering around $208 billion, beating the likes of Ford, GM, and Toyota which actually manufacture way more cars and mint much more revenue. Before now, Toyota had been the automaker with the largest public market capitalization. Toyota (as of writing) has a market capitalization hovering around $203 billion, a bit lower than Tesla's.

Investors seem to be drooling for Tesla shares given its valuation despite minting lesser revenue than other traditional automakers. For a quick comparison, Tesla delivered 367,500 vehicles last year while Toyota delivered 10 million, about 27 times Tesla's. Investors seem to have much courage in Tesla's future potential, given it's a company that only debuted on the public markets 10 years ago. The l…

Pharrell Williams Eyes Venture Investing

It seems celebrities across the U.S. have heard of good fortunes being reaped in the world of venture investing and are out to get their own share. Many music, movies, and sports bigwigs, including the likes of Kevin Durant, Lebron James, The Chainsmokers, Snoop Dogg, and Shawn "Jay-Z" Carter, have slightly ventured away from their main business into investing in tech startups, some reaping sizeable returns as a result. Now, it seems another celebrity is about to join, as The Information [paywall] reports that famed musician Pharell Williams is teaming up with Ron Conway, a prominent angel investor, to launch a venture fund that'll mainly target startups led by underrepresented minorities.

The Information reports Pharell Williams and Ron Conway are currently in discussions with limited partners for the new fund, which is notably being planned on the heels of nationwide protests against police brutality and racism across the US. Venture funds that primarily target startup…

Peloton Launches On Roku

Fitness sensation Peloton has formally launched its app on the Roku streaming platform, entailing its live fitness classes can now be streamed by Roku users in the comfort of their homes. The Peloton channel has been made available on the Roku Channel Store, enabling users to stream live fitness sessions for a fee. Payments will be processed on the Roku Pay platform, making signing up much easier for users. Existing Peloton subscribers can also automatically log-in using their credentials and gain access to live fitness sessions.

The coronavirus pandemic has largely driven people away from public gyms towards home fitness activities, and such, online fitness streaming activity has seemingly shot through the roof. According to Roku, streaming on its Health & Fitness category grew more than 130% in May alone. Peloton happens to be a benefit of the large pivot towards home fitness, thanks to its stationary bikes and treadmills with live-streamed fitness sessions that have garnered a…

Canada's Big Banks Join Facebook Boycott

Several big Canadian banks -- namely the Bank of Montreal, Toronto-Dominion Bank, Canadian Imperial Bank of Commerce, National Bank of Canada, Bank of Nova Scotia, and the famed Royal Bank of Canada -- have said they'll pause advertisements on Facebook platforms this month, joining a long list of companies that have recently agreed to a Facebook advertisement boycott campaign spearheaded by civil rights groups. The boycott, dubbed as the “Stop Hate for Profit” campaign centers on Facebook's policies on content moderation and is primarily pressuring the company to take steps to block hate speech on its platforms. More than 400 brands so far have agreed to the advertisement boycott.

In response to the boycotts, Facebook has agreed to review its content moderation policies and has begun banning many violators, about 250 in number according to the company, from its platforms. Facebook has also opened itself to a civil rights audit. Pressure has surmounted on Facebook both from sh…

Tesla Opens Cybertruck Pre-Orders In China

Electric car maker Tesla has apparently begun taking pre-orders for its recently unveiled Cybertruck electric truck in China, as noted by a newly put-up reservations page on the company's China website. The Cybertruck, which was unveiled late last year, is expected to go in production in 2022. Tesla is taking $100 refundable deposits for the Cybertruck and has already gotten more than 250,000 reservations primarily from US-based customers, according to CEO Elon Musk. The company is now apparently testing potential interest in the Chinese electric car market, which happens to be the world's biggest.

Tesla will offer the Cybertruck in three variants, the cheapest starting at around $40,000 and having about 250 miles of range. The most advanced variant will cost around $70,000.

As of late, Tesla has apparently been on a tear. Only a few days ago, the company surpassed Toyota to become the world's most valuable automaker. Also, a recent report noted of LG Chem, a major Tesla …

LG Chem To Make Tesla Batteries In Korea

South Korean chemicals giant LG Chem is set to begin producing batteries for Tesla vehicles at a domestic factory due to a demand increase from Tesla, as first reported by Reuters. According to Reuters, Tesla is asking LG Chem as well as other of its battery suppliers to increase their supplies in order to cope with a rise in demand for its vehicles. LG Chem is said to be converting some of its production facilities in South Korea to produce batteries for Tesla. Currently, the batteries made by LG Chem for Tesla are produced in a Chinese factory.

Tesla recently released its production numbers for the second quarter of this year, indicating it delivered 90,650 vehicles in the quarter despite a pandemic that suspended operations at its main production facility for weeks. The electric car maker only recently began sourcing batteries from LG Chem but appears to be already wanting for higher-than-normal supplies. Before now, Tesla's batteries primarily came from a large battery factor…

Tesla Delivered 90,650 Vehicles In Q2

As anticipated, Tesla just released its production numbers for the second quarter of this year and indicated it delivered 90,650 vehicles, a slight (4.8%) drop from the previous quarter. Tesla actually managed to beat expectations despite a pandemic that led it to suspend operation for weeks at its main production facility. The majority (80,050) of Tesla's deliveries were Model 3 and Model Y vehicles, its less expensive models, while Model S and Model X vehicles, the more expensive ones, accounted for a minority (10,600).

Analysts had anticipated lower delivery numbers as a result of the coronavirus pandemic, with some even forecasting as low as 39,000 deliveries in this quarter. A concord of analysts polled by FactSet indicated an average forecast of 72,000 vehicle deliveries for the quarter.

The release of Tesla's latest production results comes on the heels of the company surpassing Japanese automaker Toyota to become the world's most valuable automaker.





Royole Mulls China IPO

Chinese flexible display maker Royole is considering an initial public offering (IPO) in China after initially planning for one in the U.S., as first reported by Bloomberg [paywall]. Royole already filed confidentially for a public listing in the U.S. earlier this year but seems to now be considering listing in its home base of China. Royole's planned U.S. IPO was intended to raise up to $1 billion in funding for the company, which has already secured $1.1 billion in equity and debt funding as a private company. Royole's last-known funding round was in August of 2018.

Shenzhen-based Royole is a pioneer and global leader in the flexible display market. The company primarily manufactures bendable screens using advanced light-emitting diode technology that can be placed on platforms ranging from smartphones to smart speakers, head-mounted displays, and even hats and bags. Royole sells a suite of hardware products based on the aforementioned platforms.

Royole as a company was onl…

Tesla Denies Firing Staff Who Stayed Home

Automaker Tesla has denied recent reports of the company firing three workers after they opted to stay at home rather than turn up to work at the company's Fremont, California, production factory in the middle of a coronavirus pandemic. The report initially came from The Washington Post. In a blog post, Tesla dubbed the reports as "fundamentally untrue", stating that "the employees quoted in recent stories are still employed with Tesla and we have offered them work multiple times". "All we have asked is that our employees talk to us and provide us the details of their own concern so we can do what we can to help find a solution," Tesla penned in its blog post.

After weeks of closure, Tesla re-opened its Fremont production facility in May amid a public spat, spearheaded by CEO Elon Musk, with local authorities. In order to help curtail the coronavirus, Tesla instituted protective measures at the facility. According to Tesla, its protective measures me…

Anduril Nabs $200 Million In New Funding

Anduril Industries, a defense technology startup co-founded by Oculus inventor Palmer Luckey, has announced it's raised $200 million in new funding that values it at $1.9 billion post-money. The new funding was led by venture capital firm Andreessen Horowitz, a previous investor in the company. With the new funding, Anduril has now raised -- a total of -- at least $259 million in known funding to fund its ambitions of becoming a defense technology giant with roots in Silicon Valley.

Anduril was only founded three years ago but has racked up a sizeable amount of funding and about $100 million in annual revenues (according to the company). Anduril was founded by Palmer Luckey, who sold his previous company, virtual reality headset maker Oculus, to Facebook for $3 billion. After the sale, he stayed at Facebook for a while before leaving and teaming up with some veterans from data-mining firm Palantir to launch Anduril. Anduril's revenue mainly comes from government defense contr…