Author: Neuralnexus

While there are countless tech companies that make HR technology for small and mid-sized businesses, much of it is geared toward ‘professionals who sit at desks in some capacity,’ insists Homebase founder and CEO John Waldmann. Homebase is an HR software that targets the two-thirds of the American SMB workforce with hourly jobs that require them to be on-site.

A New Era for Small Businesses

After nabbing over 100,000 small businesses as customers, covering over 2 million employees, Homebase recently closed on $60 million in Series D financing. L Catterton Growth, the tech venture arm of one of the top private equity firms, led the round and was joined by Emerson Collective. The round also includes existing investors, Notable Capital, Bain Capital Ventures, Khosla Ventures, Cowboy Ventures, and PLUS Capital.

The Hourly Worker Market

Homebase offers payroll, shift scheduling, timesheets, hiring and onboarding, communication, and HR compliance. According to Waldmann, ‘It’s really hard to raise capital now, and the fact that they raised with L Catterton Growth says a lot about the team and performance.’

Jeff Richards, investor and managing partner at Notable Capital (formerly GGV Capital), agrees. He said that SMB tech for frontline or hourly workers doesn’t get nearly the attention it deserves despite the fact that it may affect over 55% of the workforce. He also said that artificial intelligence will be a major enabler of small businesses, and companies like Homebase will enable them to ‘build amazing businesses.’

A Growing Market

Homebase isn’t alone in serving this hourly worker market. Others include Workstream, building mobile-first hiring and onboarding tools; rewards platform Salt Labs; and shift payment tool Clair. Still, Richards makes a case that Homebase’s growth is impressive.

"To have over 2 million workers on Homebase, which is over 2% of the workforce, is impressive for a private company," Richards said. "If the numbers keep growing, it could be an important company from a technology and economic standpoint."

A Long-Term Investment

TechCrunch last reported on Homebase in 2021 when the company raised $71 million. Since then, the company leaned into additional financial services products and AI-enhanced features like improvements to its automated payroll capabilities. It is also working on automated tip management.

The round gives Homebase a total of $169 million in venture-backed capital. In 2021, sources told TechCrunch’s Ingrid Lunden that the company’s valuation was between $500 million and $600 million. Waldmann declined to confirm that or provide an updated valuation other than saying it was not a down round.

A Changing Landscape

In addition to R&D investments, Homebase made other changes earlier this year with the appointment of Philip Moon as its new CFO. Moon previously held strategic finance roles at companies such as Square and Grove Collaborative. Company co-founder and chief operating officer Rushi Patel also added the title of chief revenue officer.

"We are using technology to give workers superpowers and in fact, make the work more enjoyable," Waldmann said. "We believe that HR technology should be simple, intuitive, and accessible to all employees."

The Future of Work

As the world continues to evolve, Homebase is at the forefront of revolutionizing HR technology for small businesses. With its focus on hourly workers and its commitment to innovation, Homebase is poised to make a significant impact in the industry.

"We’re not just building software; we’re changing the way companies interact with their employees," Waldmann said. "We believe that our platform will become an essential tool for every business."

About Homebase

Homebase is an HR software that provides small businesses with a comprehensive suite of tools to manage their workforce, including payroll, shift scheduling, timesheets, hiring and onboarding, communication, and HR compliance.

Investors

• L Catterton Growth
• Emerson Collective
• Notable Capital (formerly GGV Capital)
• Bain Capital Ventures
• Khosla Ventures
• Cowboy Ventures
• PLUS Capital

Product Features

• Payroll management
• Shift scheduling
• Timesheets
• Hiring and onboarding
• Communication
• HR compliance

Industry Impact

Homebase is revolutionizing the way small businesses manage their workforce, with a focus on hourly workers. Its commitment to innovation and customer satisfaction has made it a leader in the industry.

Future Plans

With its recent funding round, Homebase plans to continue investing in R&D and expanding its product offerings. The company also plans to increase its presence in the market through strategic partnerships and marketing efforts.

Homebase is changing the way small businesses interact with their employees, providing a comprehensive suite of HR tools that are simple, intuitive, and accessible to all. With its focus on hourly workers and commitment to innovation, Homebase is poised to make a significant impact in the industry.

As traditional financial players continue to enter the crypto world, blockchain investor Fortis Digital Ventures is closing a $100 million crypto fund aimed at bridging the gap between old and new finance worlds.

A Bridge Between Old and New Finance Worlds

By building an investment fund focused on blockchain opportunities, we get to spend our time doing due diligence on teams and tech in web3, which gives us insight into what is missing in the market,’ said Mike Boroughs, co-founder and managing partner of Fortis Digital Ventures, in an interview with TechCrunch.

The new fund will be run by former hedge fund veterans and engineers, including Boroughs, who previously co-founded an RIA that had $250 million in assets under management, and his co-founder, Chris Capriccio, formerly VP of engineering at LegalZoom.

Aiming to Make Blockchain Investing Easier

The fund aims to make blockchain investing easier through asset allocation, risk management, and position sizing in crypto. While it will target traditional investors, only affluent clients will get a seat at the table – those wanting in must invest a minimum of $250,000 and have a net worth of $2.5 million or higher.

A Growing Need for Web3 Expertise

"We want to ensure people we work with have access to this space, because the vehicles to invest in it through the traditional routes, like brokerage accounts, are severely lacking," Boroughs said.

However, given the volatile and complex technical nature of crypto, most traditional investors don’t have ‘the stomach or skill set’ to properly invest successfully or long term, he noted.

A Long-Term Positive

While current market conditions may be bearish from the crypto chaos that caused the market to dip last week, Fortis’ investment strategy is holding steadfast, Boroughs said.

"The overall marketplace is likely to see a retraction in the easy money that was flowing to fund even questionable ideas and projects," he said. "While a short-term headwind, we view this as a long-term positive, as it means projects will need to stand on their individual merits and not just use the terms ‘crypto,’ ‘blockchain’ or ‘web3’ in their marketing collateral."

Focusing on Web3 Companies with High Utility

The firm will focus on investing in web3 companies that are building better user experiences and solving real-world issues for people or businesses, he said.

"We view this as a huge opportunity for investors willing to stay the course and dig through the rubble to find the gems," Boroughs said. "There is a massive need in web3 for an upgrade in user experience, and we believe the best opportunities will be found at the intersection of great tech and amazing user experience in order to get wide mass adoption."

The Intersection of Tech and User Experience

"There is no doubt that web3 has immense potential," Boroughs said. "However, most projects lack a clear understanding of what makes for good user experience. We believe that by focusing on this aspect, we can identify the best opportunities in the space."

A Call to Action

"We want investors who are willing to take a long-term view and understand the potential of web3," Boroughs said. "We are not interested in chasing short-term gains or investing in projects with little substance. We want to work with partners who share our vision for the future of finance."

Conclusion

In conclusion, Fortis Digital Ventures’ new crypto fund is a significant development in the world of blockchain investment. With its focus on web3 companies with high utility and user experience, it aims to bridge the gap between old and new finance worlds.

By targeting traditional investors with a minimum investment requirement of $250,000 and a net worth of $2.5 million or higher, the fund is designed to make blockchain investing more accessible to those who can afford it.

However, given the volatile nature of crypto markets, only those with the stomach and skill set for long-term investing will be able to benefit from this opportunity.

About Fortis Digital Ventures

Fortis Digital Ventures is a blockchain investor focused on building an investment fund that aims to bridge the gap between old and new finance worlds. The firm is led by former hedge fund veterans and engineers, including Mike Boroughs, co-founder and managing partner, and Chris Capriccio, formerly VP of engineering at LegalZoom.

About Web3

Web3 refers to a decentralized internet where data is stored on blockchain technology rather than traditional databases. It aims to create a more secure, transparent, and user-friendly online experience for individuals and businesses.

Additional Resources

• Fortis Digital Ventures
• Blockchain Investor
• Web3

Making it Easier for Creators to Promote their Channels and Content

In a bid to make it easier for creators to promote their channels and content, YouTube is experimenting with a new feature called the "Promotions" tab within YouTube Studio. This new addition will allow creators to purchase ads directly from within the platform, without having to navigate through Google Ads Manager.

What is the Promotions Tab?

The Promotions tab is being tested with a limited number of creators on desktop and can be found in the Content page of Studio. According to YouTube, the goal of this new feature is to provide creators with a simpler end-to-end workflow for promoting their content. By giving creators more control over ad purchases, YouTube aims to make it easier for them to reach a wider audience.

Why is YouTube Introducing the Promotions Tab?

YouTube notes that creators have been asking for more tools to help grow their channel and reach a larger audience. With the new Promotions tab, creators will be able to run quick promotions for their content, boost their presence on the platform, and increase their ad revenue.

How Does the Promotions Tab Work?

The Promotions tab is designed to make it easier for creators to purchase ads directly from within YouTube Studio. Creators can use this feature to:

• Run quick promotions for their content
• Boost their presence on the platform
• Increase their ad revenue

What Else is New in YouTube’s Latest Update?

In addition to the Promotions tab, YouTube has also made some changes to its metrics and livestream management features. Creators can now view key metrics on the main app, which brings it in line with the YouTube Studio app. This change aims to help creators understand how one content type performs over others on their channel.

What’s New in Livestream Management?

YouTube has also introduced a new way for creators to manage livestreams. Creators can now schedule, manage, and edit live and upcoming mobile streams in Live Control Room and YouTube Studio. This change will be live for all eligible creators by the end of the week.

What’s Next for YouTube’s Creator Tools?

With the introduction of the Promotions tab and other new features, it seems that YouTube is committed to making it easier for creators to grow their channel and reach a wider audience. As more details emerge about these changes, we’ll be sure to keep you updated on any new developments.

Turn Your Own Videos into Shorts with YouTube’s New Tool

In related news, YouTube has also introduced a new tool that lets creators turn their own videos into Shorts. This feature allows creators to monetize their existing content by repurposing it as shorter-form video clips.

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YouTube Introduces New Feature to Help Creators View Key Metrics

In a bid to make it easier for creators to understand how their content is performing, YouTube has introduced a new feature that allows them to view key metrics on the main app. This change brings the platform in line with the YouTube Studio app and aims to help creators optimize their content.

What Are the New Metrics?

The new metrics available on the main app include:

• Views
• Engagement
• Monetization
• Audience retention

Why is this Change Important for Creators?

This change is important because it allows creators to easily view key metrics about their content in one place. By giving them a clear understanding of how their content is performing, YouTube aims to help creators optimize their strategy and increase their ad revenue.

What Else Can Creators Expect from YouTube’s Latest Update?

In addition to the new metrics feature, creators can also expect some changes to YouTube’s livestream management tools. The platform has introduced a new way for creators to manage live and upcoming mobile streams in Live Control Room and YouTube Studio.

Scheduling and Managing Livestreams Just Got Easier

YouTube’s latest update includes a new feature that allows creators to schedule, manage, and edit live and upcoming mobile streams in Live Control Room and YouTube Studio. This change will be live for all eligible creators by the end of the week.

What Does this Change Mean for Creators?

This change means that creators can now easily schedule and manage their livestreams from within the platform. By giving them more control over their livestreams, YouTube aims to make it easier for creators to engage with their audience in real-time.

YouTube’s New Tool Lets Creators Turn Their Own Videos into Shorts

In related news, YouTube has also introduced a new tool that lets creators turn their own videos into Shorts. This feature allows creators to monetize their existing content by repurposing it as shorter-form video clips.

How Does the Tool Work?

The tool works by allowing creators to select any of their existing videos and convert them into Shorts. Creators can then customize the length, title, and description of their new Shorts to fit their brand and style.

What Are the Benefits of Using YouTube’s New Tool?

The benefits of using YouTube’s new tool include:

• Increased engagement: By repurposing existing content as shorter-form clips, creators can increase engagement with their audience.
• Improved monetization: Creators can monetize their existing content by repurposing it as Shorts.
• Simplified content creation: The tool makes it easy for creators to create new content from existing videos.

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In a move to further invest in its sports and subscriptions business, Apple has launched a new app called Apple Sports for iPhone users. The app provides sports fans with access to real-time scores, stats, and other information about their favorite teams and leagues.

Competition for Other Sports Score Aggregators

Apple Sports will be available initially in the U.S., U.K., and Canada, and will include information on various leagues such as MLS, NBA, NCAA, NHL, Bundesliga, LaLiga, Liga MX, Ligue 1, Premier League, and Serie A. The company has stated that more leagues will become available over time, including the MLB, NFL, NCASF, NWSL, and WNBA for their upcoming seasons.

Features of Apple Sports

With the app, users can customize their scoreboards to follow their favorite teams, leagues, and tournaments. They can also switch between various sections such as play-by-play information, team stats, lineup details, and live betting odds. However, it’s worth noting that the betting odds are provided by DraftKings, but there is no revenue-share agreement as the app itself does not support live betting.

Revenue Opportunities for Apple

While the app itself is free to use, it can help Apple direct customers to its other subscription offerings in live sports through its Apple TV app. Users can watch live games from Apple and their other apps through this platform. The company has been investing in its sports business over the past several years, including a 10-year streaming deal with Major League Baseball that began in 2023.

Growing Services Revenue

Apple’s services revenue hit a record of $22.3 billion in the fourth quarter, encompassing areas such as Apple TV+, Apple Music, iCloud, the App Store, advertising, and more. Sports can help Apple grow its services revenue further, and it’s possible that the company may expand its Sports app with paid features over time.

Personalization and Advertising

Apple says users’ sports interests are associated with their Apple ID and will sync across other apps to personalize their experiences in Apple TV and Apple News. Users can turn off syncing if they choose. The data may also be used to improve Apple’s personalized advertising.

Launch of Apple Sports

The launch of the new sports app arrives alongside the kick-off of MLS’ 29th season, and Lionel Messi’s first full season with MLS. Apple TV+ subscribers can add MLS Season Pass at a discounted rate of $12.99 per month or $79 per season.

Availability and System Requirements

Apple Sports is offered in English, French, and Spanish and requires iOS 17.2 or later to download and run.

Impact on the Market

The launch of Apple Sports will likely have an impact on other sports score aggregators available on the App Store. With its robust features and personalized experience, it’s likely that Apple Sports will gain popularity among sports fans.

Conclusion

Apple’s entry into the sports app market with Apple Sports is a significant move for the company. By providing users with access to real-time scores, stats, and other information about their favorite teams and leagues, Apple is further investing in its sports and subscriptions business. With potential revenue opportunities through subscription offerings and personalized advertising, Apple Sports has the potential to grow into a leading platform for sports enthusiasts.

Related Topics

• Apple
• Apps
• iPhone apps
• Sports

New Service to Offer Unprecedented Capabilities for Government and Defense Customers

In a significant expansion of its services, Rocket Lab is set to launch its hypersonic suborbital rocket, HASTE (Hypersonic Accelerator Suborbital Test Electron), marking a major milestone in the company’s growth trajectory. This new offering is expected to become available in the first half of this year, with the maiden mission already underway at Rocket Lab’s U.S. launch facility in Wallops Island, Virginia.

The Birth of HASTE

HASTE is a derivative of Rocket Lab’s successful Electron orbital launch vehicle, but with a distinct twist. The name "HASTE" serves as a backronym for its hypersonic capabilities, reflecting the rocket’s ability to achieve unprecedented speeds during suborbital flights. This innovation paves the way for a new era in space technology, particularly in the realm of government and defense.

Unlocking Government and Defense Opportunities

Rocket Lab’s entry into the hypersonic suborbital launch market is poised to revolutionize the industry by catering to the needs of government and defense customers. The company has already secured significant contracts with prominent players in this sector:

• Dynetics Contract: Rocket Lab was awarded a U.S. Department of Defense contract through Dynetics, solidifying its position as a major player in hypersonic test launch services.
• Defense Innovation Unit (DIU) Partnership: The partnership with DIU will enable the development of advanced capabilities for government and defense agencies, further cementing Rocket Lab’s reputation as a trusted supplier.
• Missile Defense Agency Target and Countermeasures Contract: This contract will see multiple payloads tested aboard HASTE, demonstrating the rocket’s versatility and potential for various applications.

A Major Step Forward for Rocket Lab

The introduction of HASTE represents a significant milestone for Rocket Lab, as it expands its portfolio of services to meet the evolving needs of government and defense customers. With this new offering, the company is poised to strengthen its position in the market and drive growth through innovative solutions.

Industry Impact and Competition

Rocket Lab’s entry into the hypersonic suborbital launch market is likely to have a ripple effect across the industry. Other major players, such as Stratolaunch and Blue Origin, are also exploring this opportunity:

• Stratolaunch: Dedicated to providing suborbital test operation opportunities, Stratolaunch aims to establish itself as a leading player in this niche.
• Blue Origin: With its focus on reusable rockets, Blue Origin is also vying for a share of the hypersonic suborbital launch market.

The Future of Space Technology

Rocket Lab’s HASTE program represents a crucial step forward in space technology development. By pushing the boundaries of what is possible with hypersonic suborbital launches, the company is unlocking new opportunities for innovation and growth in the industry.

Stay Tuned for More Updates on Rocket Lab’s HASTE Program

As the first half of this year unfolds, TechCrunch will continue to provide updates on Rocket Lab’s progress with its HASTE program. Follow us for exclusive insights into the world of space technology and stay ahead of the curve on the latest developments in this rapidly evolving field.

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