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Torii, the SaaS Management Platform for IT, Announces $3.5M Seed Round at Collision Conference in Toronto

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Presenting at Collisions Breakout Startups session, CEO Uri Haramati announced this morning that Torii has secured $3.5 million in seed investments. Uncork Capital in Silicon Valley is leading the round, with additional investments from Global Founders Capital in Berlin and Entre Capital in London.

Toriis platform allows IT managers to discover, audit, vet and control the SaaS apps that employees use; to optimize SaaS license utilization; and to set up automated workflows that free up the IT team from many of their tedious, regularly mistake-prone processes.

The increasing adoption of cloud computing and SaaS solutions has introduced new challenges for IT leaders. Individual employees and departments can now readily subscribe to SaaS applications that help them perform key tasks and increase productivity. However, these subscriptions are often unsanctioned by IT departments, comprising what is now referred to as shadow IT.

In the age of GDPR compliance and elusive cyber threats, regaining control of all software in use in the enterprise is a mission-critical imperative.

The seed round will allow Torii to pursue the next phase in their development roadmap, which will see them adding more sophisticated and customizable automation components into their product.

In the near future, people will not need to manage software “ it will be software that manages software, said Haramati. This inevitability is a big part of our vision for Torii, to create one software that manages all software. And for that, you need powerful and versatile workflow engine. The SaaS management platform needs to be able to remove licenses, to add and close accounts, and to intelligently route alert notifications to the right people.

When asked about his funds decision to invest in Torri, Andy McLoughlin of Uncork Capital said, We chose to invest in Torii because we loved the team, the product, the early traction, and the market. The three founders are experienced tech innovators “ they bring valuable experience working in high growth businesses, coupled with developing consumer products. This unique combination makes them an exceptionally compelling founding team. I think you only have to look at the quality of the product they are building and early customer traction to understand that.

Benedikt K¶rling of Global Founders Capital believes that SaaS management will become an increasingly important category, especially SaaS automation, which Torii tackles well, he said. Torii’s product is more sophisticated than many other offerings on the market today. It shows the founding teams deep product understanding, providing IT teams with an unprecedented user experience.

Haramati sees the custom automation capabilities of his product as being a key differentiator, one which will only strengthen its market positioning as post-funding development continues. We started out focusing on SaaS visibility, then we added a layer of insights, and now a layer of workflow automation to provide our users with the value they need, in a way that fits their challenges, he said.

The seed round will allow Torii to pursue the next phase in its development roadmap, which will see them adding more sophisticated and customizable automation components into their product. It will also allow them to build a US-based sales and customer success team to handle the demand for the platform.

Torii is already being used by top brands and companies such as Monday.com, SimilarWeb, Typeform, Payoneer, ClassPass, Delivery Hero and Thrive Global.

About Torii

Torii offers a SaaS management solution that helps enterprises effectively manage their SaaS application use and subscriptions. The company was founded in 2017 and is currently based in Raanana, Israel and New York.

Toriis team is led by CEO Uri Haramati, a veteran product leader who previously co-founded Life on Air (Meerkat and Houseparty). With him in the executive team are Engineering VP Uri Nativ and CTO Tal Bereznitskey. Naveen Zutshi, the CIO of Palo Alto Networks, is also joining Toriis team as an advisor.

For more information: www.toriihq.com

Press contact: Dan Edelstein [email protected]

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Virgin Money Australia partners with Ascenda to deliver new loyalty programme later this year

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SYDNEY, Sept. 29, 2020 /PRNewswire/ — Ascenda, a global loyalty solutions company has been selected by Virgin Money Australia (part of the Bank of Queensland Group) to deliver market-leading reward capabilities within its newly announced digital bank.

Virgin Money Australia partners with Ascenda to deliver new loyalty program later this year.
Virgin Money Australia partners with Ascenda to deliver new loyalty program later this year.

The partnership will leverage Ascenda’s market leading technology to help launch a new loyalty programme that aims to reimagine the way customers are engaged and rewarded. Virgin Money Australia will look to reward customers for positive behaviours beyond transactional spend or upfront bonuses that traditional programmes focus on.

The new loyalty programme has been designed with Virgin Money Australia customers at the heart of the experience. A programme that will allow customers to earn points and unlock personalised offers, all from the palm of their hands anywhere in the world.

Virgin Money Australia customers will be rewarded on a wide range of everyday behaviours, like achieving their savings goals, staying within their spending target, shopping online or on purchases they make in store.

Mr Greg Boyle, Virgin Money Australia CEO said: "Australians are well aware of the value they deliver to the banks, but they don’t believe this is reflected in the service they receive. Instead they feel unrecognised and undervalued. We’re going to change that. We want our customers to feel recognised and rewarded every day they’re with us. Recognising loyalty should go beyond typical upfront bonuses or transactional rewards. We want to share value with our customers, whether it’s as they grow their relationship with us, to help them celebrate achieving their own financial goals, or to thank them for choosing us.

"Ascenda’s cloud-based API and white label capability is key to helping us achieve this. It will allow us to offer our customers red-hot and relevant rewards across a broad range of day-to-day banking activities, behaviours and events," concluded Mr Boyle.

Sebastian Grobys, Ascenda’s Chief Commercial Officer, added, "We’re delighted to partner with Virgin Money Australia to help them bring to market a new and exciting loyalty proposition. With Ascenda’s next-generation platform, Virgin Money Australia will benefit from speed-to-market, the flexibility to continuously innovate going forward, and operational efficiencies."

Ascenda has commenced implementation and is progressively deploying its technology across the project.

About Ascenda

Ascenda is a global provider of innovative loyalty solutions powering rewards propositions for leading financial services and travel brands worldwide.

Ascenda makes loyalty simple through solutions rooted in simplicity and beautiful design.  With deep market expertise, best-in-market technology and a rich global content network, Ascenda delivers fully digital, user-friendly and highly compelling rewards offerings that eliminate the trade-off between cost and customer value.

For more information about Ascenda, please visit www.ascendaloyalty.com.

Media Contact:
Valerie Perridon
[email protected]

Photo – https://photos.prnasia.com/prnh/20200928/2930123-1?lang=0

Related Links :

http://www.ascendaloyalty.com

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Korea Ginseng Corp (KGC) Unveils DONGINBI, Functioning Premium Red Ginseng Skincare Solution, on Amazon

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SEOUL, South Korea, Sept. 29, 2020 /PRNewswire/ — Premium Korean beauty skincare brand from Korea Ginseng Corp (KGC), DONGINBI, is launching on Amazon today. The launch will celebrate with a limited time discount up to 40% off the signature products. 

Korea Ginseng Corp (KGC) Unveils DONGINBI, Functioning Premium Red Ginseng Skincare Solution, on Amazon
Korea Ginseng Corp (KGC) Unveils DONGINBI, Functioning Premium Red Ginseng Skincare Solution, on Amazon

DONGINBI was created in 1899 based on Cheong Kwan Jang’s philosophy of creating Korean red ginseng for external use. Various Red Ginseng ingredients offer a number of powerful skin-enhancing benefits, such as increased firmness, elasticity and brightness. It’s also packed with antioxidants and anti-inflammatory properties, which help to soothe the skin, improve skin cell regeneration, and fight free-radical damage, which make DONGINBI’s formulations perfect for all skin types, even the most sensitive.

Utilizing red ginseng from Cheong Kwan Jang, DONGINBI has created the ultimate condensed formulations using a combination of three core types of advanced red ginseng technology in the form of a red ginseng water, oil, and extract. The high concentration of six-year red ginseng root with active ingredients is richly infused in each of DONGINBI’s five product lines for a complete skincare routine – 1899, Red Ginseng Power Repair, Red Ginseng Moisture and Balancing, Red Ginseng Daily Defense, Red Ginseng Mi Mask Stick.The brand has plans for additional product drops following the foundational launch.  As a brand committed to becoming a world-class global corporation, DONGINBI is KGC’s next step to develop premium, luxurious skin care products.

All products retail for $27.99$169.99 and will be available for purchase on Amazon.com starting September 28, 2020.

1899 Signature Oil: One drop per root antioxidant synergy oil containing high purity red ginseng oil created with the essence of 1899 technology.

1899 Signature Oil is now available on Amazon.

1899 Single Essence: First Essence that carries 100% red ginseng extract which demonstrate the excellent antioxidative action from the single ingredient delivers the clear, sleek, and shiny skin.

1899 Single Essence is now available on Amazon.

Red Ginseng Mi Mask Stick Vital: Vital mask infused with Natural Clear Skin Formula protects skin exhausted by external environment and restores healthy.

Red Ginseng Mi Mask Stick Vital is now available on Amazon.

Red Ginseng Moisture & Balancing Emulsion: Deep moisturizing emulsion with moisture energy from condensed red ginseng water that provides a balanced care for healthy and luminous skin.

Red Ginseng Moisture & Balancing Emulsion is now available on Amazon.

Red Ginseng Daily Defense Essence: Daily base essence with Natural Clear Skin Formula that protects skin weakened by the external environment and boosts the skin’s natural energy to leave a firm and healthy finish.

Red Ginseng Daily Defense Essence is now available on Amazon.

Red Ginseng Power Repair Intense Eye Cream: Premium eye cream that creates smooth, lucid eyes by improving firmness around the delicate eye zone.

Red Ginseng Power Repair Intense Eye Cream is now available on Amazon.

For more information please visit: https://www.donginbi.com/ and follow us on Facebook.

 

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Microsoft study: Close to one third of Asia Pacific’s remote and firstline workers are facing increased burnout at work

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Lack of work-life balance and contracting COVID-19 cited as top stressors, as outlined by Microsoft study which focuses on employee wellbeing

 

SINGAPORE – Media OutReach – 29 September 2020 – Workers in Asia Pacific are facing increased burnout due to lack of separation between work and personal life as well as worry of contracting COVID-19, according to Microsoft’s latest Work Trend Index report. On average, close to one third of workers in Asia Pacific cited increased rates of burnout over the past six months, with the lack of separation between work duties and personal obligations as negatively impacting their wellbeing.

[View Image]

 

Surveying over 6,000 information and first-line workers across eight countries globally including Australia, Japan, India and Singapore, the study found that Singapore and India were the top two countries in the region with workers facing increased burnout, at 37 percent and 29 percent respectively. In addition, close to 34 percent of Asia Pacific respondents cited worry about contracting COVID-19, due to the lack of tech or protective equipment provided by businesses to effectively socially distance, resulting in increased stress levels.

 

“In the last 6 months, we have seen how COVID-19 has contributed to the evolution of the workplace — from a physical space to one residing in a virtual world. As businesses adapt to a new way of working, it is important to examine the multifaceted impact these changes are having on employees and provide relevant and timely solutions,” said Rosalind Quek, General Manager, Modern Workplace, Microsoft Asia.

 

Inspired by this research and conversations with customers, Microsoft announced the start of a longer journey to evolve its productivity tools to promote individual wellbeing and organizational resilience. A series of updates have been launched within Microsoft Teams to support employee wellbeing. These include a virtual commute experience that helps users prepare for the day and mindfully disconnect in the evening and new insights that supports managers and leaders in understanding how work happens, and its impact on employee wellbeing. Microsoft has also partnered with Headspace to bring a curated set of mindfulness and meditation experiences into the Teams platform and launched new Teams experiences for Firstline Workers to support them with the tools they need to work more safely.

 

Key Findings from the research include:

  1. The pandemic increased burnout at work — in some countries more than others.
  2. Causes of workplace stress differ for Firstline and remote workers.
  3. Six months in, there are more communications and fewer boundaries.
  4. No commute may be hurting, not helping, remote worker productivity.
  5. Studies show meditation can fight burnout and stress during the workday.

 

1.     The pandemic increased burnout at work — in some countries more than others

In Asia Pacific, 29 percent of respondents cited that the pandemic has increased their sense of burnout at work. However, Microsoft’s research showed that everyone is experiencing this differently. For instance, Microsoft found that 37 percent of workers in Singapore are experiencing higher rates of burnout than those in Australia, India and Japan. While burnout can be attributed to many factors, the chart below explores how longer workdays impact feelings of burnout. For example, workers in Australia[1] saw the highest increase in workday span in Microsoft Teams at 45 percent, with a medium increase in burnout while workers in Germany saw very little change to workday span or feelings of burnout.

 

Link to image

 

2.     Causes of workplace stress differ for firstline and remote workers

The report also revealed that the top stressor shared globally was worry about contracting COVID-19, followed by lack of separation between work and life, feeling disconnected from co-workers, and unmanageable workload or hours. In Asia, the study found that over 34 percent of workers have not been provided the tech or protective equipment they need to effectively socially distance by their company, resulting to increased stress levels. This was higher than the global average by 4 percentage points. In addition, among the stressors reported by remote workers, the lack of separation between work and life and feeling disconnected from coworkers ranked highest.   

 

Countries across Asia also had cited differing factors contributing to work stress. In Australia and Singapore, the lack of separation between work and life was the top stressor with 24 percent and 31 percent respectively, with the feeling of isolation coming closely behind at 22 and 28 percent. However, in countries such as India and Japan, 42 percent and 26 percent respectively cited the inability to socially distance and the worry about contracting COVID-19 while on the job as a top stressor.

 

3.     Six months in there are more communications and fewer boundaries

Having identified lack of separation between work and life, along with unmanageable work hours, as top workplace stressors, Microsoft turned to usage patterns in Teams for more insight.

 

Data showed that globally, even six months past the first work-from-home orders, people are in significantly more meetings, taking more ad hoc calls and managing more incoming chats than they did before the pandemic. As people adjusted to remote working, after hours chats, or chats between 5pm and midnight, have also increased.

 

Link to image

 

4.     No commute may be hurting, not helping, productivity for remote workers in Asia

For years, Microsoft’s research group has been studying how commute has helped maintain work-life boundaries–and worker’s productivity and wellbeing. A 2017 study helps us understand the productivity benefits of commute time. As part of the study, a digital assistant used chat conversations featuring task- and emotion-based questions to help participants prepare and detach from work through the day. The study found that 6 in 10 people (61 percent) globally felt they were more productive when the digital assistant helped them ramp up to and down from work. On average, productivity increased between 12 and 15 percent.

 

The new virtual commute experience in Teams will help workers have a productive start in the morning and mindfully disconnect in the evening. Users can expect to customize their experiences from a set of suggested tasks such as meditation with the Headspace app, reflecting on the day or helping workers close out on outstanding tasks.

 

5.     Studies show meditation can fight burnout and stress during the workday

Of those surveyed in Asia, 73 percent said meditation could help decrease their work-related stress. External research backs this up — consistent meditation with Headspace can decrease stress and burnout and improve your ability to react to negative feedback.

 

Thus, Microsoft’s partnership with Headspace will offer workers the ability to schedule ad hoc or recurring time for mindfulness breaks anytime — before a big meeting or to find focus needed to start on an important project.

 

As Microsoft continues to learn more about wellbeing at work, users can expect to see related innovation continue to be developed across Microsoft 365 and Teams. For more information on the product updates mentioned in this report visit the Microsoft 365 blog. You can also read the full research here[2].



[1] Workday span is the time between a person’s first and last active use of Microsoft Teams, such as sending a chat, editing a document or attending a meeting.

[2]Privacy approach: Microsoft takes privacy seriously. We remove all personal data and organization- identifying data, such as company name, from the data before using it to produce reports. We never use customer content such as information within an email, chat, document, or meeting to produce reports. Our goal is to discover and share broad workplace trends from aggregated data from the Microsoft Graph.


About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

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