Last week Asana announced new features that it has and will add to its work management platform. It also revealed its first-quarter results. Other news came from Aurigo, Certinia, Forecast, Monday.com, and Screendragon. There was no roundup last week, and the news from the previous week is not combined with this one.
Asana
Asana revealed solid profit growth in its Q1 fiscal 2024 results. It revealed that revenues from customers spending more than $5,000 grew more than 32% year over year (Y/Y). The number of customers spending more than $100,000 was up 31% Y/Y to 510. It now has one customer with more than 200,000 seats. Key figures included:
- Revenues were $152.4 million, up 26% Y/Y
- GAAP operating loss was $65.2 million (43% of revenues) (up from 80% Y/Y
- GAAP net loss was $61.5 million, down from $98.9 million Y/Y
- Cash flows from operating activities were negative $14.6 million, compared to negative $41.1 million in the first quarter of fiscal 2023
- Overall dollar-based net retention rate in Q1 was over 110%
Dustin Moskovitz, co-founder and Chief Executive Officer of Asana, stated, “As organizations move rapidly to leverage the benefits of AI, our partnerships with some of the largest, most strategic companies in the world will be instrumental in informing our product roadmap. The Asana Work Graph brings together AI and human collaboration, giving our customers a powerful platform to manage and automate work within their organization.”
It also gave an outlook for the full year expecting revenues of $640.0 million to $648.0 million, an annual growth of 17% to 18%. It is still heading for an operating loss of between $120 million to $110 million.
Aurigo
Aurigo has partnered with the University of Florida’s Department of Mechanical and Aerospace Engineering to develop a revolutionary system for underwater surveying, mapping, and inspection, provisionally named Bathydrone.
The current process to gather data for new underwater construction or inspect existing assets such as bridges, docks, and levees consists of manual surveying from divers or survey sensors mounted to a boat. With the new, safer, and more efficient Bathydrone system, a drone drags a small vessel on the water’s surface, eliminating manual surveying. The vessel is equipped with a COTS sonar unit mounted on its bottom. The sonar unit has down-scan, side-scan, and chirp capabilities and logs data onboard the console located inside the hull. Data can then be retrieved post-mission from the console and plotted in various ways.
Balaji Sreenivasan, CEO and Founder of Aurigo Software, commented, “We are excited to be working on this groundbreaking technology with the team at the University of Florida. The Bathydrone system will vastly expand the possibilities for underwater endeavors while providing a cheaper, safer, and more eco-friendly alternative for our customers.”
Certinia
Certinia published a case study about Siemens Digital Industries leveraging Certinia PS Cloud to help deliver services. Over several years Siemens has built a portfolio of solutions through acquisition and organic growth. These solutions included Digital Transformation Consulting Services, Implementation Services, Education Services, Engineering Services, and Cloud Managed Services. However, the PSA that drove the business could not cope with multiple companies with multiple services. Nor could it provide a holistic overview of the business to leaders.
It chose the Certinia solution because of its breadth of capabilities combined with Salesforce. It has now onboarded over 7,500 users across thirty regions worldwide. Business leaders can now manage resources across over 5,000 projects and have seen an increase in billable utilisation to its highest level in seven years.
Kurt Kuelz, Senior Vice President – Global Customer Outcomes Siemens Digital Industries Software, commented, “We do implementation services for a living, and the transition to Certinia PS Cloud was one of the most seamless cutovers we have experienced. We met every milestone, didn’t leave any revenue on the table, and are on pace to realize our full next-gen service automation vision.”
Forecast
Forecast has updated its look with a new brand and website. The change is the culmination of work by Chloe Tang, who helped identify the company values as Brave, Visionary, Honest, and People-Centric. A post announcing the update Forecast revealed, “Chloe worked through several different concepts, and ultimately we chose a direction inspired by our product. The Forecast platform is really the star of the show, so why not use it to inform the design? Connectivity was also a major inspiration for the design, as our purpose is to help organizations make smarter decisions by connecting their data, tools, and teams.”
Key changes included:
- Colours that conjure our brand attributes
- Shapes that evoke our product
- Product images that speak for themselves
- Bold typography that makes an impression
- A logo that carries Forecast with a new symbol and redesigned wordmark
Monday.com
monday.com launched monday dev. Built on top of the monday.com Work OS, monday dev is the next step in monday.com’s multi-product vision, and it equips product and development teams with the tools to seamlessly manage all development processes and achieve their goals faster in one easy-to-use platform.
Ran Toueg, Senior Product Manager at monday.com, commented, “We’re thrilled to offer product and development teams monday dev and its full spectrum of capabilities, where teams – from R&D to design to product management – can plan, build, and manage their entire product lifecycle. At monday.com, we know that each team has different needs: with monday dev, we leverage the power of monday Work OS low-code/no-code platform to empower product development teams with an agile, customizable platform to manage every aspect of their work – from ideation to execution.”
Daniel Lereya, VP, of R&D and Product at monday.com, said, “With our low code-no code platform, we’re continuing to bring to life our Work OS vision by empowering teams to easily build their own workflows and seamlessly collaborate together. As part of our multi-product strategy, the launch of monday dev provides development teams, alongside all teams across an organization, with the visibility and opportunity to take part in the product development world, in the monday way, where we ensure our customer experience is at the forefront by prioritizing an intuitive interface and ease of use.”
Monday.com also announced the promotion of Shiran Nawi to Chief People and Legal Officer. The appointment became effective on May 15, 2023. Nawi has spent five years at Monday.com and has impressed. She will report to co-CEOs Roy Mann and Eran Zinman.
Mann commented, “Shiran’s track record of strategic leadership, deep understanding of our unique culture, and a genuine passion for people made her the ideal candidate to lead our People function. She also has been instrumental in developing our best-in-class Legal team and we look forward to seeing her continued impact in her elevated role as Chief People and Legal Officer.”
Screendragon
Screendragon revealed that German headquartered international sports agency SPORTFIVE has selected Screendragon’s agency management solution. It will deploy the solution through 2023 to improve resource management, streamline the approval process, simplify task management, and manage budgets.
