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mdf commerce Reduces Its Operating Expenses

mdf commerce Inc., a SaaS leader in digital commerce technologies, announces that the Corporation effected a workforce reduction to lower the Corporation’s operating expenses.

In addition to the cost reductions previously announced at the time of its third quarter of fiscal 2023 financial results, mdf commerce has further reduced its global workforce by approximately 40 people, representing approximately 6% of its total employees. This decision was made after careful consideration to improve the Corporation’s financial performance.

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mdf commerce estimates that it will incur non-recurring charges of approximately $0.7 million in connection with this restructuring, primarily consisting of severance payments, notice pay and employee benefits contributions. The majority of these restructuring charges will occur in the first quarter of fiscal 2024.

Despite the difficult decision to reduce its workforce, mdf commerce remains fully committed to providing exceptional client service to its customers. This decision was necessary to maintain a sustainable financial position and improve cash flows from operations, as we continue to invest for future growth and in the success of the Corporation.

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“We understand that this news is difficult for our team, and we are committed to providing support to those impacted during this transition,” says Luc Filiatreault, President and CEO of mdf commerce. “We appreciate the contributions of all our employees, and we will do everything we can to make this as smooth as possible.”

mdf commerce would like to reassure its employees, customers and investors that this decision will not impact its ability to provide top-quality services and solutions. The Corporation remains focused on its long-term vision of becoming the North American leader in government eprocurement solutions with the objectives of profitably growing its businesses, including its ecommerce and emarketplaces platforms. mdf commerce remains committed to investing in its people, technology and infrastructure, and looks forward to continuing to deliver exceptional value to its clients and customers.

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Constant Contact Launches First Multichannel AI Content Generator Built for Small Businesses and Nonprofits

Company also unveils new Automation Path Builder and advanced automation tools to help customers send the right messages at the right time

Constant Contact, a small-business-focused digital marketing and CRM platform that has helped millions of small businesses and nonprofits, launched the first multichannel AI content generator built specifically for small businesses and nonprofits. Using artificial intelligence (AI), Constant Contact’s AI Content Generator allows customers to automate the copy drafting process for email, text and social media campaigns. This feature is currently free to all new Constant Contact customers for a limited time.

Constant Contact’s AI Content Generator was developed using the company’s proprietary data and AI algorithms, which recognize content small business customers are most likely to engage with. Then, ChatGPT technology from OpenAI is leveraged to automatically draft high-quality copy that can be used across multiple marketing channels. Automating the writing process enables Constant Contact customers to create engaging messages in seconds instead of spending valuable time iterating on their next campaign.

The use of AI for impact is not new for Constant Contact. Today’s launch demonstrates the company’s continued commitment to incorporating AI and automation into its platform to help small businesses and nonprofits deliver better messages to their customers. Constant Contact has previously integrated AI technology into other areas of its products, including subject line recommendations, automated triggers and its award-winning Spaminator utility – which protects against spam and contributes to the company’s industry-leading message deliverability.

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“Our goal is to make world-class marketing technology accessible and helpful to small businesses and nonprofits, and our research shows that the majority of them need hours to create a marketing campaign,” said Russ Morton, chief product officer at Constant Contact. “Our new AI Content Generator makes it easy to get started on an email or text by blending cutting-edge AI with an intuitive interface that’s designed for smaller businesses. The result is a powerful feature that can help our customers send tailored messages with minimal effort. In the past, this technology has only been accessible to enterprise-level businesses, but our tool delivers it to the small business market in a way that can help give them a leg up on their larger competitors.”

Constant Contact also enhanced its automation capabilities with a new Automation Path Builder that lets small businesses and nonprofits easily create personalized journeys for customers based on recent actions and preferences. The feature comes with a library of prebuilt templates that can be used to quickly produce campaigns for customers who take specific actions, like subscribing to a list or making a purchase. These targeted, timely and automated messages help build deeper relationships, spur engagement and drive revenue growth.

Using the Automation Path Builder in conjunction with the AI Content Generator enables Constant Contact customers to automate the most time-consuming elements of creating new marketing campaigns and own their message from end to end. This eliminates manual work and saves time while giving them confidence that they are sending the most effective messages to each customer.

“ChatGPT has thrust AI into the spotlight, but few organizations – especially in the SMB space – have thought through how to operationalize this technology in a meaningful and effective manner,” said Roger Beharry Lall, Research Director, Marketing and Promotional Applications at IDC. “Constant Contact’s new AI Content Generator and Automation Path Builder are noteworthy examples of practical and consumable toolsets that help address this gap by enabling thoughtful access to advanced AI capabilities specifically designed for small business organizations.”

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Glyde and Lunchbox Partner to Power On-Premise Ordering for Enterprise Brands

Glyde text logo

Glyde, a leading provider of on-premise ordering technology for restaurants and retailers, announced today a strategic partnership with Lunchbox, an all-in-one online ordering platform for enterprise restaurants. The partnership aims to power on-premise ordering for enterprise brands, offering customers a seamless and innovative ordering experience within a restaurant to drive revenue for our brands.

Through this partnership, Glyde and Lunchbox will integrate their respective technologies to provide enterprise brands with an end-to-end solution for on-premise ordering. Glyde’s mobile ordering technology will enable customers to easily access their check from their tables, while Lunchbox’s OPEN platform allows restaurants to tap into a comprehensive suite of catering, marketing, and loyalty program features, managed from one POS system.

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“Our partnership with Lunchbox is a game-changer for enterprise brands,” said Maanav Patel, CEO of Glyde. “By combining our strengths, we can provide a complete solution that not only streamlines the ordering process but also enhances customer engagement and loyalty.”

The Glyde and Lunchbox integration will enable enterprise brands to leverage the power of data analytics to gain insights into customer behavior and preferences both on & off-premise. This will help brands to better understand their customers and provide them with personalized experiences, at the table or from home, leading to increased loyalty and revenue.

“We’re wanting to scale on-premise ordering operations for enterprise restaurants and we’re excited to partner with Glyde to do just that,” said Nabeel Alamgir, Co-Founder and CEO of Lunchbox. “By leveraging the power of our platforms, brands can now streamline restaurant operations and deliver a best-in-class ordering experience that drives repeat guests.”

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Verusen Launches Trusted Supply to Help Suppliers and Industrial Distributors Grow Revenue and Strengthen Customer Relationships Through Collaboration

Industrial distributors and suppliers gain access to intelligent customer demand signals, promoting increased revenue growth and improved service levels by addressing data variability between suppliers and end-users

Verusen, the industry leader driving supply chain material intelligence, at ISA23 announced the launch of its AI-powered Trusted Supply application, enabling industrial distributors, integrators and suppliers to maximize visibility into customer demand to grow revenue and improve network resiliency for their customers.

Data for the materials used throughout industrial supply chains is dirty, incomplete, and inconsistent as it passes through end-user and supplier systems. The traditional solution has always been data cleansing for multiple siloed applications and manual processes that cost all parties too much time, money, and risk.

Verusen’s Trusted Supply is an application purpose-built for suppliers featuring natural language AI models to enable suppliers to respond more effectively to customer needs, regardless of system or data quality. Today, the offering is designed to streamline the RFx process, exponentially improving the match rate for materials requested by customers and prospects, enabling suppliers to respond in hours instead of weeks.

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Future enhancements to Trusted Supply focus on improving efficiency and enhancing revenue generation with key areas of development including:

  • Real-time exchange of demand signals with customers
  • Tail spend optimization and contract compliance
  • Collaborative planning capabilities between suppliers and their buyers

“Entering our third year in market supporting dozens of F500 manufacturers and generating hundreds of millions in savings opportunities for them, we recognized that the next evolution of supply optimization is to simplify buyer-supplier collaboration to build resilient supply networks,” said Paul J. Noble, Verusen Founder and Chief Strategy Officer. “Speed and scale wins. I’m proud that today, Trusted Supply will help remove the friction from the RFx process and that in the future, Trusted Supply will enable real-time collaboration between suppliers and their customers, eliminating data dependent manual processes to make it easier to buy, easier to sell and reduce risk across the supply chain.”

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The clear benefits of Trusted Supply include increased RFx win rates, increased capacity to respond to RFxs, improved alignment on materials sourcing strategies and services, and the capability to allocate cost-intensive personnel resources better.

Verusen’s customer Würth Industry North America MRO & Safety has already experienced high ROI using Trusted Supply in a test over the past few months. In addition, partnering with Verusen has empowered them with increased visibility into their customer needs.

“Verusen Trusted Supply is helping us streamline our RFQ response process, resulting in us being able to respond more quickly and thoroughly to each RFQ. This provides our business with increased scalability versus our previous process of our teams manually matching the parts within our system for our customers,” said Eric Wilk, CEO, Würth Industry North America MRO and Safety Division.

“At Industrial Supply Association (ISA), we are experiencing increased interest from our membership who wish to develop tighter linkages between suppliers and their customers in order to achieve a greater share of wallet while maximizing efficiencies,” said Brendan Breen, CEO for the ISA. “I’m pleased to see the positive industry momentum from leading companies like Verusen and Würth Industry North America MRO & Safety in helping achieve these important initiatives.”

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CobbleStone Software Named Best Contract Management Solution Provider to Watch in 2023 by The Enterprise World

CobbleStone Software has been named the Best Contract Management Solution Provider to Watch in 2023 by The Enterprise World in the latter’s March edition cover story.

CobbleStone Software – a recognized Leader in contract lifecycle management (CLM) according to the SPARK Matrix™ 2022 report – has been recognized for their ongoing, advanced contributions to the legal tech space – as they were recently named among the best contract management software solutions providers to watch out for in 2023.

This article by The Enterprise World highlights CobbleStone’s journey and how their founder, Mark Nastasi, has shown his commitment to raising industry standards by providing innovative methods for contract management. CobbleStone has managed to retain over 90% of its clients by constantly delivering evolving products and services for contract lifecycle management success.

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“We are honored to be on the cover for this month’s feature by The Enterprise World. We aim to provide exemplary service to contract management professionals and offer many tools and services to aid with managing the contract lifecycle process.” – Mark Nastasi, President & Founder of CobbleStone

With proprietary features – such as IntelliSign® electronic signatures and VISDOM® artificial intelligence with machine learning, CobbleStone is recognized as a pioneer in replacing traditional, paper-based system for contracts with something better.

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The Enterprise World praises CobbleStone’s million-clause initiative to provide users with an AI engine that has learned from 1,000,000+ real-life clauses. Additionally, The Enterprise World states:

“To make things extra easy and streamlined, CobbleStone users can leverage auto-redline to:

> Auto-redline documents ad-hoc or upon upload.
> Quickly see and manage automated redlines and comments with thorough audit trails.
> Work within both CobbleStone’s native online document editor and MS Word.”

“We at CobbleStone are honored to be on the cover for this month’s feature by The Enterprise World,” says Mark Nastasi, President & Founder of CobbleStone Software.

“We aim to provide exemplary service to contract management professionals and offer many tools and services to aid with managing the contract lifecycle process.”

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Magaya Achieves Double-Digit Revenue Growth With Exceptional Start to 2023

Magaya Corporation, the leading provider of logistics and supply chain automation software, announced an outstanding start to 2023, achieving its ambitious sales goals and delivering strong revenue in the first quarter. The addition of new customers along with unprecedented retention and expansion were the primary drivers of double-digit growth for revenue and EBITDA in Q1.

In January, Magaya announced an investment from Apax Digital, the growth equity arm of global private equity advisory firm Apax, to support continued organic growth, platform enhancements, and strategic M&A.

Faced with the economic uncertainty that marked the start of the year, logistics service providers are seeking ways to operate more efficiently, retain existing customers, and win new business. The Magaya Digital Freight Platform is uniquely positioned to enable businesses to meet all of those objectives and more by way of cloud-based, modular, and integrated automation and digitization solutions.

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Business highlights for Q1 2023 include:

  • Added 44 new SMB and enterprise logos to the portfolio of global customers, including powerhouse brands such as Guardian Customs, Horizon Air Freight, and jointly with our reselling partner Tsol, IGS International Cargo
  • Appointed industry veteran Jayson Peterson as Vice President of Global Channels and Alliances to further expand the program’s international presence
  • Announced strategic technology partnerships with Expedock, Veem, and CargoAi, providing added value to our customers by extending the capabilities of the Digital Freight Platform
  • Once again named as one of Inbound Logistics’ Top 100 Logistics IT Providers
  • Maintained its coveted Leader spot on the G2 Grid Reports for 3PL, Freight Management, Warehouse Management, and Supply Chain Suites
  • Released its new and improved Courier Shipping by Magaya extension, giving Magaya Supply Chain users complete, end-to-end shipping management including label printing and shipment tracking with connections to USPS, FedEx, UPS, and more

“The success of our organic and customer growth during the first quarter has set the stage for a prosperous year at Magaya. With a continued focus on the global SMB market, we begin 2023 with a strong pipeline as our customer footprint continues to grow, expanding in EMEA and APAC,” commented Gary Nemmers, Magaya CEO. “Looking ahead, we have several strategic M&A and product initiatives in the works that we are very excited about bringing to market. 2023 is well underway to be a banner year for Magaya.”

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New Survey from Staples Finds More than Half of Americans Own Old Tech They Have Not Used in Over A Year; Nearly 70% Don’t Know Where to Recycle

Customers Encouraged to Recycle at Staples on Earth Day Weekend with Additional 15% Off Discount*

Staples released a new survey which found that 54 percent of Americans own old technology items they have not used in more than one year while 70% don’t know where to take technology to be recycled**. Staples wants to combat uncertainty around technology recycling by not only providing a free way for customers to recycle unwanted technology but also by rewarding them for keeping the planet cleaner. To encourage Americans to finally get rid of that old technology, Staples is both enhancing the benefits of its Free Tech Take Back Recycling Program starting now through mid-June and offering a special in-store discount during Earth Day weekend, when you recycle.

“For many Americans, not knowing where to recycle is the top reason why they tend to hold onto old tech,” Mike Sauchuk, Senior Director, Recycling and Sustainability at Staples US Retail said. “However, more consumers express agreement that they intend to recycle an old technology product within the next six months***. That’s why this Earth Day, Staples wants to not only make it easy for Americans to dispose of their old tech but also reward them for doing their part when it comes to recycling.”

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For more than 15 years, Staples has provided consumers the option of recycling old tech devices in their local stores. In 2022, Staples introduced Free Tech Take Back, rewarding customers by offering $5 back in Rewards for recycling in-store****. In recognition of Earth Day, the company will double its current Free Tech Take Back Recycling program. Beginning April 16 through June 17, Staples will increase rewards back from $5 to $10 for in-store technology recycling*****. And, during Earth Day weekend (April 22-23), customers will also receive 15% off their in-store purchases of $30 or more when they recycle in store.*

Additionally, the survey uncovered the technology that consumers are the least likely to recycle are laptops (78%), cellphones/smartphones (66%), and tablets/iPads (59%). The items consumers are most likely to have not used in a year or more are technology cables (62%), cellphone/smartphone chargers (46%) and computer accessories (44%). All of which are easily recycled at Staples!

Staples US Retail helps America work and learn better. With a focus on the community of small businesses and consumers, Staples provides innovative printing, shipping, travel, technology, and recycling services, along with products and inspiration essential to the new ways of working and learning. Staples US Retail Stores serve millions of customers from entrepreneurs and small businesses to remote workers, parents, teachers, and students. The company operates in the United States in approximately 1,000 retail locations nationwide, and is headquartered near Boston, Massachusetts. Explore Staples, the Working and Learning Store, at a local Staples US Retail Store or online at Staples.com.

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FinThrive Bolsters Commitment to Health Equity and Revenue Recovery at HIMSS23

The company shines a light on data-driven insights and their award-winning Insurance Discovery tool on healthcare’s biggest stage

FinThrive, Inc., a healthcare revenue management software-as-a-service (SaaS) platform provider, will join 40,000 healthcare professionals throughout the global health ecosystem at HIMSS23 in Chicago April 17-21. Tapping into this year’s theme “Be Bold”, attendees can visit FinThrive in Booth #3670, South Hall A, Level 3 to experience a live podcast recording, in-booth demos and discussions about the industry’s first end-to-end Revenue Management platform.

“The old days of managing revenue in disparate silos with inefficient workflows and minimal returns are no more,” FinThrive CEO Hemant Goel said. “FinThrive is flipping the script and we are excited to share this with the world’s sharpest and most innovative minds at the HIMSS Global Health Conference in Chicago. We invite new and old friends, colleagues and healthcare professionals to join us as we forge ahead in an effort to ensure every transaction and patient experience is addressed holistically.”

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Last month, FinThrive made some big waves of their own with the announcement that they provided spatial analysis for a Utica University Study sponsored by the Robert Wood Johnson Foundation. The study used FinThrive data to evaluate the demographics and family structures of New York households and identify specific neighborhoods that could benefit from more informed healthcare interventions.

Alex Wendling, Flow Core Specialist at the University of Virginia and recent graduate of Utica University’s Master of Data Science program will participate in an onsite podcast interview at the FinThrive booth on Thursday, April 20 at 10 a.m. CST. More details on the Utica research and findings can be found here. Attendees can expect an engaging discussion on FinThrive’s SDOH research and how it is helping health systems and other organizations deliver more equitable care in their communities.

Additionally, Geoffrey Roche, Senior Vice President of National Health Care Practice & Workforce Partnerships at Core Education PBC will be sharing his work in Pennsylvania on health disparities. This podcast starts at 9:30 a.m. CST. He and his team worked closely with AARP and the state of Pennsylvania, where the report identified the need for “cultural competencies” for the healthcare workforce to meet health equity needs.

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In an industry that has been inundated with staffing shortages and lost revenue, having the right data at the right time is not only key in the fight for health equity, but it also plays a vital role in bettering revenue management for big and small systems alike. FinThrive’s 2023 Best in KLAS Insurance Discover solution helps organizations find missing insurance coverage and ensure that earned revenue becomes revenue realized. One FinThrive customer recovered over $5.5 million in missed revenue in one year.

Subject matter experts will be onsite in the FinThrive booth to discuss Insurance Discover, in addition to the many other benefits of working with an autonomous End-to-End (E2E) platform, including ways to:

  • Increase POS collections during pre-visit and arrival

  • Optimize processes and improve performance and coding accuracy during discharge

  • Improve claims outcomes and compliance, increase productivity and achieve a stronger ROI during billing, payment and resolution process

  • Accelerate cash flow and reduce costs with reimbursements from untapped sources

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Deepwatch Announces Significant Enhancements to Xcelerate Channel Partner Program

MDR Leader Increases Sales Enablement Tools and Rewards Partners for Investment in Deepwatch

Deepwatch, the leader in advanced managed detection and response (MDR), announced significant enhancements to the company’s established Xcelerate Channel Partner Program to recognize and reward partner expertise and investment at each level.

“As a channel only company since inception, Deepwatch is constantly working to evolve and enhance our Channel Partner Program to ensure partners feel supported and invested in the company,” said Lori Cornmesser, Senior Vice President of Global Channel Sales and Alliances at Deepwatch. “With these new enablement tools and additional tiered investments, channel partners are now more incentivized than ever to collaborate with Deepwatch and extend our MDR offerings into their customer base.”

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The Xcelerate new partner tiering framework provides partners access to various financial and business benefits, from training and tools, to market development funds (MDF) and partner advisory councils. Partners enter at the Silver Tier and meet a combination of revenue and specialization requirements to achieve higher tiers, including Gold and Platinum.

“Deepwatch brings an intuitive approach to working with channel partners that combines the best interests of both parties. As a long standing partner of the company, we are excited to see the fresh changes to the program that will further entice new partners to join the already established channel for the company,” said Justin Domachowski, Founder & CEO at Defy Security. “Deepwatch was one of the first companies to truly understand how to best engage with the channel partner community and these new enhancements prove the company is truly channel first.”

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Deepwatch Academy

To support our partner community in our shared goals, Deepwatch Academy was built to provide a simplified view of upcoming sales training opportunities, sales resources, our Deepwatch Expert Engineer Program – Certified eXperience (DEEP-cx), and other useful resources. Deepwatch Academy is filled with learning resources and exercises that will help partners confidently provide security solutions and gain more market share.

Within the Deepwatch Academy, partners will find sales training to help learn about various Deepwatch solutions and their value to customers. In addition, partners can find case studies, webinars and schedule training sessions.

The DEEP-cx Technical Training Program offers dynamic, in-person and virtual experiences that encompass the expanded family of Deepwatch Expert Engineer Program certifications, which includes DEEP – Certified Influencer and DEEP – Certified Advisor.

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ExtraHop Recognized by Gartner, Ranked Second in NDR Market Share with 34.5% Growth from 2021 to 2022

Strong partnerships with cybersecurity leaders including CrowdStrike and Splunk contribute to company momentum

ExtraHop, a leader in cloud-native network detection and response (NDR),  announced it has been recognized by Gartner in the Overall Enterprise Network Equipment Market, Worldwide, 4Q221, ranking second in NDR market share.

ExtraHop is one of 11 vendors named in the Overall Enterprise Network Equipment Market report. Demonstrating consistent growth throughout 2022, the company experienced a 34.5% increase in revenue year-over-year. This comes on the heels of the news that ExtraHop was named as a Representative Vendor in the 2022 Gartner Market Guide for Network Detection and Response2 for the third time.

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“We are dedicated to creating meaningful and strategic relationships with customers and partners around the globe, and look forward to continuing to provide them with an NDR solution that offers unmatched value.”

“Over the last year, ExtraHop experienced significant growth and maturation in the cybersecurity market,” said Patrick Dennis, CEO, ExtraHop. “Our mission is to protect and propagate trust, and ExtraHop provides customers with a single source of truth that can help them do just that. Our continued momentum is a testament to the incontestable power of the network, proving the ExtraHop platform is resonating with organizations dedicated to improving their cybersecurity posture.”

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As enterprises find themselves increasingly under attack, they are turning to NDR solutions for greater visibility into their IT environments. With ExtraHop, customers can see where adversaries are hiding and how they’re moving laterally throughout the network as they prepare to access and exfiltrate data. When paired with endpoint and log solutions, organizations gain greater insights to establish their cyber risk so they can see more, know more, and stop more cyberattacks.

In 2022, ExtraHop expanded its partner ecosystem with 15+ new integrations to drive greater adoption of Reveal(x), the ExtraHop NDR platform, and help customers streamline their security tool stacks. Benefitting from 230+ robust integrations with leading vendors like CrowdStrike, AWS, and Splunk, customers can maximize their existing security investments and accelerate detection and response efforts.

“The ExtraHop integration and partner ecosystem is critical to our success,” said Chris Scanlan, President and Chief Commercial Officer, ExtraHop. “We are dedicated to creating meaningful and strategic relationships with customers and partners around the globe, and look forward to continuing to provide them with an NDR solution that offers unmatched value.”

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