Startups Blog

Scaling your business isn’t just about doing more; it’s about doing more better. Whether you are just getting started or a seasoned small business owner, knowing how to scale a business effectively makes all the difference between getting by and thriving. 

In a significant development for the electric vehicle (EV) charging market in Central and Eastern Europe (CEE), Eleport, an Estonian-based public EV charging network operator, has announced its acquisition of TurboVolt, a Charge Point Operator headquartered in Austria. This acquisition is critical to Eleport’s strategy to expand its reach across the CEE region, particularly in Croatia and Slovenia.

In a landmark deal set to reshape the cybersecurity landscape, Google is nearing the acquisition of Israeli cloud security startup Wiz for a staggering $23 billion. Announced in mid-July 2024, this acquisition marks Google's largest purchase to date and signals its intent to strengthen its cloud security offerings amid stiff competition.

Captivating the Spanish market online requires a strategic approach that integrates cultural sensitivity, language proficiency, and a deep understanding of local SEO practices. Spain's digital landscape is dynamic and diverse, with unique preferences and nuances that can significantly impact online success. To successfully penetrate this market, businesses must prioritize tailored strategies that resonate with Spanish consumers.

Here’s how to do that.

The evolution of financial technology (fintech) has paved the way for innovative and efficient financial services on a global scale. As more people become digitally savvy, fintech platforms continue to grow in demand.

A localization strategy is key for businesses seeking successful global business expansion. It involves adapting your products, content, and business strategies to fit the cultural, linguistic, and regulatory requirements of target markets. 

Partnering with employer of record companies is one of the best ways to ensure successful global business expansion, as it helps businesses navigate complex local regulations and build stronger relationships with local markets.

Backbone, a next-generation workflow platform for consumer goods companies, just hit $23 million in total funding. Securing an additional $10 million in Series A financing led by Foundry Group, Backbone has gathered an impressive $18 million in funding in a year. The company's first funding was a Seed round of $250k back in 2016.

From August of 2018 to August 2019, Backbone has mainly partitioned their proceeds to expand their niche within consumer-based industries such as textiles, furniture companies like MGK Asia, etc. The Boulder-based company now is in collaboration with several companies such as Warby Parker, Uppababy, Betabrand, Allbirds, and Outdoor Voices. Additionally, Backbone says that by the end of 2019 they'll be taking in a Chief Operating Officer and will be increasing their workforce 2x by the second quarter of the year 2020.

CEO and co-founder of Backbone Matthew Klein says the recent financing will aid Backbone in advancing to the middle market. "It allows us to enable today's leading disruptive brands further to make products better, faster, and more efficiently. Since the beginning, we've never thought of ourselves as being up against our legacy incumbents. Instead, we are competing against a fast-growing direct to consumer economy with a customer demand that is greater than ever." said Matthew. 

The Spine of Backbone PLM

Backbone is a cloud-based platform that provides PLM solutions for consumer goods companies. PLM stands for product lifecycle management, which provides an analytical and technical approach in managing the entire lifecycles of products and goods in the industry. Backbone eliminates extreme pain point during the development process of products.

Also, Backbone improves the total efficiency and overall growth of a company through cross-functional visibility. This increases revenue opportunities while decreasing the totality of revision cycles and waste. What's more, Backbone seamlessly connects workflows and can be integrated to top work-related applications such as Shopify, Slack, and NetSuite. 

The Faces Behind Backbone

Backbone was founded and spearheaded by two prominent brothers, Matthew and Andrew Klein. With 30 years of experience in fashion and consumer goods behind them, they have developed Backbone to automate the design and production process, reduce lead times during the course of the supply chain and have products get to market faster. 

The company says traditional and outdated Product Lifecycle Management infrastructures are slow and rigid. For this reason, the brothers developed Backbone to help minimize the work process of each product development. "The platform eliminates friction and complexities while increasing speed to market. We are thrilled to partner with such a prestigious group of investors, who will be instrumental in helping us bring our solution to even more innovative brands seeking to meet the on-demand needs of consumers," adds Andrew Klein, Chief Operating Officer of Backbone.