The Data Mandate

For enterprises, a smart data strategy has transformed from a “nice to have” into a “need to have”—data is the new oil. Companies turn data into a competitive advantage using architectures that gather, secure, access, and analyze data. When evaluating which building blocks—data tools and approaches—to utilize, enterprises should keep in mind several key trends that are driving the future of data infrastructure.

The first of these trends is the rapid shift to the cloud of enterprise data. According to Flexera’s 2020 Annual State of the Cloud Report, 93% of enterprises have a multi-cloud strategy and 87% have a hybrid cloud strategy. Furthermore, COVID has only accelerated the adoption of the cloud, with nearly 60% of enterprises expecting cloud usage to exceed pre-COVID plans.

The reverberations of the transition to the cloud can be felt along the data value chain, from ingestion to analytics. This shift underlies the massive success of data cloud provider Snowflake, now an $80B+ company, following its successful September IPO.  A host of companies assist enterprises with backing up (Rubrik), cataloging (Collibra), and transporting (Fivetran) data stored in the cloud. On the analytics front, new tools such as ThoughtSpot Cloud integrate with cloud data warehouses to provide real time insights by querying where data lives.

The rise of the business user is another key trend influencing enterprise data strategies. Historically data insights were accessible only through a small team of specially trained data scientists. Increasingly, enterprises are striving to democratize access to data and enable business users to derive insights. Usable data must, therefore, be available when and where a business need arises. Data observability companies such as Monte Carlo, ensure the quality of incoming data, while transport companies such as Fivetran make data instantaneously accessible in an easy to analyze format. New Business Intelligence (BI) tools offer self-service, search capabilities with user interfaces that do not require SQL training.

Increasingly, enterprises are incorporating AI into their data strategy and data infrastructure stack.  Algorithmia helps enterprises deploy, operate, and secure machine learning models using company data. Similarly, Tecton offers a feature store for machine learning models that empowers enterprises to build models and put them into production at scale.

Security and governance are paramount for both traditional and AI-specific data infrastructure.  Companies such as Immuta and InCountry provide global data governance options as endpoints become more difficult to protect, while privacy companies such as Privacera  and Skyflow protect an enterprise’s sensitive data. As AI/ML become mainstream, concerns have arisen regarding the impact on privacy and ethics.  Calypso AI addresses these concerns by ensuring reproducibility and transparency of ML pipelines and models with its AI security and monitoring solution.

The trends outlined above are only a few of many that are shaping the rapidly growing data infrastructure space. How does an enterprise adapt to these trends and maximize the value of its data? Join us in examining the Future of Cloud Based Data Infrastructure at this years’ The Montgomery Summit 2021 presented by March Capital on March 3rd and 4th, where we will examine this question and hear from several of the companies mentioned above that are helping businesses make the most of their data. To register for the 2021 Summit, please click the following link: https://cvent.me/mqWNGX. If you have any questions, please contact info@montgomerysummit.com.

Building for Success: The ServiceNow Story

The Montgomery Summit, on March 3rd and 4th, provides an opportunity to forge ahead into the new normal, to make big bets on what is to come, and to revisit the triumphs of those companies who have withstood the myriad challenges of the past year and remained on top.

One such company, which we have been privileged to know since its very beginning and which we are pleased to present as a keynote at the Summit this year, is ServiceNow. ServiceNow was founded by Fred Luddy in his San Diego home in 2003. I remember spending time with Fred that summer, when the goals and motivation for the now enormously successful ServiceNow was contained in nothing more than a 3×5 notecard:

Since the inception of ServiceNow, the goals and motivation for the company outlined on Fred’s 3×5 card have not faltered. As Fred put it in a Forbes interview hosted by me and Rich Karlgaard in October, “in 1983 those were good goals, in 2003 those were good goals, and in 2020 those are still good goals.”

The company went public in 2012, opening at a $2 billion valuation, and today the market cap has surpassed $114 billion. The impressive growth is due to both an unwavering commitment to Fred’s original goals for the company and to the outstanding executive leadership that has taken ServiceNow to new heights at each phase of growth. Frank Slootman, now CEO of Snowflake, was appointed CEO of the company after its initial phase of massive innovation in 2011. He took the company public while establishing operational excellence and scalability. John Donahoe, now CEO of Nike, followed Slootman to lead the company through a new chapter of innovation. Today, ServiceNow has entered its fourth phase of growth and there’s nobody better suited for the job than Bill McDermott.

During his tenure at SAP, Bill grew the value of the company from $39 billion to $156 billion. He is an incredible engine for growth and ServiceNow has benefitted from his expertise during the pandemic. ServiceNow is among the few companies to have out-performed expectations during this period, growing its workforce by 26%increasing subscription revenues by a whopping 32% in just three months, and closing 89 transactions with more than $1 million in net new annual contract value in the last quarter of 2020.

How has he accomplished such early success? Like Fred, Bill put together a five-point plan for the company and stuck to it. Under Bill’s leadership, ServiceNow has gone from an IT-vendor to an enterprise-wide solution, and just in time.

In this hybrid working world, companies increasingly look for solutions to help their employees be more productive. ServiceNow is primed to help companies succeed in this COVID environment with their easy to use, cloud-native, and quick time-to-value solution.

EY is among the many companies leveraging ServiceNow’s platform. Carmine Di Sibio, EY Global Chairman and CEO, will interview Bill in front of a live audience for his virtual keynote address. Carmine, a leader in EY’s alliances strategy, was eager to partner with ServiceNow to achieve their vision for exceptional employee experiences defined by efficiency.

EY and ServiceNow are uniquely positioned to help clients transform their enterprise services through an integrated business solution built on ServiceNow’s cloud-based platform and informed by EY’s end-to-end business transformation expertise. Together, they offer an integrated, technology-enabled, and business-led approach to enterprise service management and business automation services.

To learn more about ServiceNow and what it takes to build great and lasting success, join us for The Montgomery Summit on March 3rd and 4th. To view our incredible lineup of keynote speakers, register for a plenary pass at no cost at the following link: https://cvent.me/mqWNGX.

Spotlight on Forter

We are pleased to feature our portfolio company, Forter in our Spotlight program at The Montgomery Summit 2021 presented by March Capital on March 3rd & 4th.

During the program, Michael Reitblat, CEO & Co-Founder of Forter, will share the Forter story, to be followed by a live Q&A in front of a virtual audience. Forter has developed the next generation eCommerce enablement platform – offering a completely fraud-free payment environment for merchants, banks, payment providers and consumers. By removing the fear of fraud, Forter has established an ecosystem of trust which enables retailers to drive more sales through their websites and mobile apps, and creates a significantly better buying experience for consumers.

March Capital has taken a large position in Forter, which recently announced a $125 million financing, bringing its post-money valuation to just over $1.3 billion. We believe Forter can do for identity authentication what CrowdStrike has done for endpoint security and in the process build a highly valuable standalone public company.

The pandemic has provided a strong tailwind to the eCommerce sector and has dramatically accelerated the shift from offline to online sales (up by a staggering 44% YoY). This momentum has led to increased fraudulent online and mobile transactions, which are estimated to amount to $7.2 billion in the US, up from $5.5 billion last year. The market demand for real-time fraud prevention has resulted in explosive growth for Forter in the past year. They doubled their revenue in 2020 and have experienced incredible metrics across the board – including 146% net dollar retention. Over 22% of all US eCommerce (non-Amazon) went through Forter, and 97% of online purchases made in the US today are made by consumers within Forter’s network.

The opportunity cannot be overlooked. Aite Group reports that merchant losses to eCommerce fraud are projected to grow to $6.4 billion by 2021. Forter is not only directly positioned to prevent these fraudulent transactions, but also to solve the problem of $443 billion in falsely declined online payments.

Join us for what may be our final discussion with Michael on this unparalleled boom in eCommerce and how it has led to the hyper growth, hyper-scaling and seemingly infinite demand for Forter’s service.

To view Forter’s session, purchase a full access pass which will allow you to view all plenary sessions (keynotes and fireside chats), spotlight company presentations and dynamic sector overviews, participate in invitation-only roundtable discussions, and book one-on-one meetings. You can also register for the plenary pass at no cost to view our incredible lineup of keynote speakers.

To register for the 2021 Summit, please click the following link: https://cvent.me/mqWNGX. If you have any questions, please contact info@montgomerysummit.com.

Learning More About The Montgomery Summit 2021

We will be virtually hosting The Montgomery Summit 2021 presented by March Capital on March 3rd & 4th.

Since The Montgomery Summit 2020 last March, we have experienced the rapid acceleration of digital transformation along with a torrent of other changes. In 2021, we will explore all that we learned from the past year; how these changes will determine our new normal; what the implications for technology investing and the innovation economy are; and who the entrepreneurs will be that lead the charge in driving innovation.

The conversation has already begun, and we look forward to continuing the dialogue while learning from the unique perspectives and diverse insights of our keynote speakers. We have confirmed a number of industry leaders including Eric Yuan, CEO & Founder, Zoom; Bill McDermott, President & CEO, ServiceNow; Jennifer Tejada, CEO, PagerDuty; Alex Taylor, CEO & President, Cox Enterprises;  Francis DeSouza, President & CEO, Illumina; Cristiano Amon, President & CEO-elect, Qualcomm; Jim Whitehurst, President, IBM; and others.

We have reinvigorated the Summit’s program format and content to create a more engaging experience in the virtual environment. This year, the majority of our presenting companies will be divided by industry sector into sixteen 50-minute blocks. Within each block, 4-5 industry leading companies will give 4-minute presentations followed by a panel discussion with an expert moderator. Our sector overviews will discuss matters of direct and immediate importance to investors, entrepreneurs, and executives, including  “Frontiers of Cyber Security,” “Intelligent Automation,” “Cloud Infrastructure,” “Real Time Payments,” “The Re-invention of the Bank,” “Reinventing Supply Chains,” “Optimizing the Data Layer,” “The Future of Food,” and more.

We will also be featuring a select number of  “transformative” companies during 25-minute slots where hosts will introduce the companies and moderate a live Q&A from the virtual audience. March Capital companies scheduled to present in this program include ASAPP, Earnin, Forter, SparkCognition, Uniphore, and Unqork. They will be joined by other leading private companies including Freshworks, Qumulo,  Rubrik, Snyk, ThoughtSpot.

The 2021 Summit will be virtual for the safety of our Summit community. Though we will miss seeing you all in person, we will do our best to create energy, foster impactful relationships, and deliver the unexpected – as we always do.

For our 18th annual Summit – our first virtual Summit, we have opened our plenary sessions (keynotes, fireside chats, and panels) to a global audience at no cost. Please spread the news of this exciting opportunity to get involved.

To register for the 2021 Summit, please click the following link: https://cvent.me/mqWNGX. If you have any questions, please contact info@montgomerysummit.com.

Intersection of Data Science and Biological Science

Last year, we were fortunate to host The Montgomery Summit before the COVID-19 pandemic prevented travel and in-person conferences. For most of you, it was the last conference you attended.

The 2021 Summit on March 3rd and 4th marks a year since COVID-19 emerged. There is a light at the end of the tunnel with pending vaccines and an anticipated return to what will be a new normal. There have never been as many disruptive and profound changes to our society as we have experienced in the last twelve months.

One of the key drivers of change has been the intersection of Data Science and Biological Science, which enabled us to map the coronavirus genome and rapidly develop vaccines, testing, and other treatments. Illumina has played a critical role in these efforts and we are proud to host their CEO, Francis DeSouza, at the Summit this year. Illumina, the next-gen genomics pioneer, famously sequenced the entire genome in just one hour at a cost of only $1000 (as compared to 15 years and $2.7B in 2003). Several years ago, the chairman of Microsoft, John Thompson, commented that Illumina is the “Microsoft of Genomics.” We are excited for Francis to share his insights. In addition, we will have a panel discussion moderated by Matt McIlwain of Madrona Venture Group, with leading companies solving pertinent biological challenges by unlocking the power of computational techniques and data analytics. They will discuss the imminent developments in their respective areas, the economic implications, and the broader impact to society.

We have invited four of the most innovative companies in the space to join us: Resilience, reimagining biopharmaceutical manufacturing through advanced research and production technologies; Twinstrand, building a platform around Duplex Sequencing based on DNA data, enabling physicians, patients, and drug researchers to make life saving decisions faster; Synthego, developing the critical genome engineering solutions we need to accelerate CRISPR research; and Nautilus, a biotechnology leader using proteomics to accelerate therapeutic development, dramatically improve medical diagnostics, and make personalized and predictive medicine a reality.

The explosive data growth in the last decade, combined with this COVID-19 era of rapidly evolving scientific innovation, will have a long-lasting impact. Over the next 10 years, the intersections of the life and data sciences will emerge as a multi-trillion dollar industry, and Southern California, already holding 10% of US investments in synthetic biology and home to 65 companies in the space, is well-positioned to take advantage of the opportunity.

The demand for data science in the biotechnology industry is extensive and growing. Please join us in conversation with industry leaders during The Montgomery Summit 2021 presented by March Capital on March 3rd and 4th. To register for the 2021 Summit, please click the following link: https://cvent.me/mqWNGX. If you have any questions, please contact info@montgomerysummit.com.