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This Week in London Startups - Issue #19, 7th September 2021

This Week in London Startups - Issue #19, 7th September 2021
By London Startup Club • Issue #19 • View online

For most startups, hitting $100M in ARR (annual recurring revenue) is a big goal and takes a lot of hard work to achieve. Well, Zoom, has just hit $1B in quarterly revenue, that’s an ARR of $4B!
Despite this achievement, Zoom’s stock fell 12% on the announcement - all this despite beating expectations for this quarter.
The main reason for this is due to slowing growth in revenue. The company’s revenue growth of 54% year-over-year may have left investors feeling a tad disappointed, compared with the growth of 191% seen in the previous quarter. The next quarter will be even slower, with Zoom guiding for just 31% revenue growth.
Zoom’s CFO, Kelly Steckelberg, claims that buyers are now more thoughtful and measured - implying panic buying during the peak of the COVID-19 pandemic.
According to analysts, for companies like Zoom who have thrived in the pandemic, the real question is what post-pandemic life will be.
Haris Qureshi, Editor & Co-Founder @ London Startup Club
This week’s spotlight is community member Francesco Cipollone, CEO & Founder of Appsec Phoenix.
Any company that produces software face the frustration of setting achievable goals to reduce cybersecurity exposure and can’t explain what is the overall risk to the board. For the past 4 years, AppSec Phoenix and its founder have been helping financial organisations solving software security issues and reducing the risk and maximising the utilisation of expensive software and security personal. AppSec Phoenix has a state of the art risk and quantification engine that enables the executive to set target and developer frustration-free focus list of actions prioritised and contextualised for the specific organisation 
Got something worth shining a spotlight on? Message me on LinkedIn, and we’ll get you scheduled in for an upcoming newsletter!
Top News
  • Paris-based NAVYA launches first autonomous shuttle service on UK roads, more here
  • The difficulty of UK relocation post-Brexit means trouble for the country’s status as a tech hub, more here
  • August’s hottest European seed investments, see the list here
  • Facebook Quietly Makes a Big Admission, more here
  • Automated hiring software is mistakenly rejecting millions of viable job candidates, more here
  • Facebook says its AI mislabeling a video of Black men as “primates” was “unacceptable”, more here
  • Founders Factory and G-Force launch Seed program for climate-focused startups, more here
  • ProtonMail logged IP address of French activist after order by Swiss authorities, more here
UK Funding Rounds
  • Swiss scaleup Oviva secures £58M to expand its digital diabetes treatment across UK, more here
  • Online e-commerce on the rise: Ex-Amazon marketplace team Olsam Group picks up £120M, more here
  • Capitalise raises £10m to launch integrated credit protection service, more here
  • BankiFi, a Manchester fintech helping SMEs grabs £2.2M funding to fuel global expansion, more here
  • Heroes, London e-commerce startup secures £145M funding to fuel growth, more here
  • London-based ‘escrow infrastructure as a service’ startup trustshare secures £2.3M, more here
  • CoachHub, a digital coaching platform for employees secures £57.8M funding, more here
  • Food sharing app Olio raises $43m as neighbours scramble for free groceries, more here
International Highlights
  • Delivery startup Cajoo partners up with Carrefour and raises $40m, more here
  • Europe’s healthtech boom continues with Oviva’s $80m raise, more here
  • Spain’s Factorial raises $80M at a $530M valuation on the back of strong traction for its ‘Workday for SMBs’, more here
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