Russ Harris

At Black Box Intelligence™, we've been closely monitoring California since the minimum wage increase in April, and the findings may surprise you! Explore the trends in sales, traffic, check growth, and staffing, particularly in comparison to the rest of the nation. https://lnkd.in/gkf2mVUf

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We recently wrapped Vista’s 2024 Annual General Meeting, where we had a chance to bring hundreds of our investors together and reflect on the past year as well as the magnitude of the opportunity ahead in enterprise software.    Last year was a remarkable year for Vista. We eclipsed $100 billion in assets under management (AUM) and returned more than $9.3 billion to our investors in a climate that saw exit activity drop to its lowest levels since the financial crisis (as of 12.31.2023).   We also continued to judiciously put capital to work to grow our ecosystem, completing seven platform investments and 10 add-on acquisitions. Today, Vista’s ecosystem comprises more than 85 portfolio companies, with a workforce of nearly 100,000 employees doing business in more than 180 countries around the world. Additionally, our differentiated private credit platform – Vista Credit Partners – experienced record deployment into what we believe is one of the most attractive private lending environments in decades.    While I’m proud of our growth, I’m equally proud of how we got here. Vista’s success remains deeply rooted in our focus on discipline and consistency. These characteristics manifest in our underwriting and value creation capabilities, in our team and their commitment to our performance-oriented culture, and in our ability to repeatedly partner with great management teams to drive operational change.   These core attributes were all on display at our AGM. They have also helped Vista garner the continued trust and partnership of an incredible group of global investors, who share our conviction in unlocking the compelling value and growth that has long defined the enterprise software sector. We remain humbled by their support and the opportunity to showcase how Vista is working as a firm and across our portfolio to capitalize on the catalysts shaping our industry, such as the recent advancements in Generative AI.   The Vista team has much to be proud of - and more to come.

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Seattle-based Frazier Healthcare Partners, a dedicated healthcare private equity firm, closed its latest flagship fund, Frazier Healthcare Growth Buyout Fund XI, L.P. FHGB XI was significantly over-subscribed. The fund hit its hard cap of $2.3 billion of limited partner commitments in six months. FHGB XI will acquire controlling interests in middle-market healthcare companies. The fundraise comes not long after the private equity firm's venture capital-focused arm, Frazier Life Sciences, secured $630 million for its evergreen Public Fund. Since its inception, Frazier has raised over $9 billion of capital for private funds and co-investment opportunities. It has invested in more than 200 companies over 33 years. Frazier invests broadly across the U.S., Canada and Europe. Source: Frazier Healthcare Partners #healthcare #privateequity #mergersandacquisitions #investmentbanking

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Our CEO, Sanjit Biswas, sat down with Clint Betts on the CEO.com podcast to talk about how Samsara is transforming industries with data and AI. Don’t miss his insights on innovation, leadership, and the future of tech. 🎧 Listen to the full episode here: 

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“The cave you fear to enter holds the treasure you seek.” 💡✨ Attending SaaStr 2024 in San Mateo for the first time felt like stepping into the unknown, unsure of what I’d find or how it would change me. But wow—what an incredible and transformative experience! 🚀 I had the privilege of connecting with hundreds of amazing companies from the SaaS and tech ecosystem, both from California and across the US. From passionate discussions about design, digital experiences, and truly connecting with users to creating products that have a real impact on people’s lives, every conversation was a treasure of its own. 🎨💻💬 What struck me most is that we all share the same passion and understanding of how vital design and user experience are. It’s not just about aesthetics—it’s about solving real problems, creating meaningful connections, and making people’s lives simpler and better. 💫💖 So grateful for this experience, and for all the treasure I found along the way! 🗝️🏆 #SaaStr2024 #DesignMatters #UserExperience #DigitalInnovation #Grateful #TechCommunity

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As a tech entrepreneur, I've learned that building a lasting business requires an unwavering focus on the fundamentals - strong financials, a passionate team, and innovative products. In a recent episode of M&A Science, I had the opportunity to share some insights on navigating the challenges and opportunities that come with growing a tech company, both organically and through strategic acquisitions. I'm grateful to the M&A Science team for providing a platform to discuss these important topics. Building a successful tech company is a marathon, not a sprint - I hope the experiences I’ve shared can be helpful to fellow entrepreneurs on that journey. Listen to the episode here: avpt.co/40IxOrr #MAScience #TechEntrepreneur

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Following up regarding Sunrun’s unethical behavior: Since two multi-months downtimes in 4 years indicates a chronic quality issue, I checked Sunrun’s financials. Sunrun existing customers are loyal at the point they signed a contract. Sunrun average contract life remaining is approximately 17.9 years. While the company boasts that it demonstrates the commitment of its customer base, it is due to their business model. Customers like me, who choose to prepay for their solar lease in full, will be ignored. There is no way to legally get out of the 25-year lease, and in public filing I am counted as a loyal customer. Next, since the recurring multi-months system down time are both attributed to lack of spare parts inventory: (holding cash in inventory is a bad)..I noticed the company’s initiative to reduce inventories. ($460 Mil in 2023 Vs. $784 mil in 2022). Since Wall Street rewards for revenue growth, (The company with a 15% increase in its customer base year-over-year), prioritizing parts inventory for NEW installation is logical.  As far as down installations of existing customers? Well, they are locked in and the most they can do is complain (which is noise). Bottom line – a fantastic – while unethical - business model.

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Really enjoyed the opportunity to talk about how AI is set to transform software sourcing and selection (and thus software sales!) at IDC's Global Research Advisory Council in Boston and Berkeley earlier this month. CIOs describe their current software sourcing and selection processes as "long" "slow" "evolving" "frustrating" "complex." The coming decade in software sourcing and selection is going to look nothing like the past! #ITleaders #businesstransformation #softwaresourcing #AIprocurement

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Dealmakers think a lot about how AI = (growth or industry disruption) = M&A. But what about their own ways of working? I look forward to a robust discussion next week on how generative AI impacts the business of M&A. #wheredealsaremade

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Last Sunday I had the opportunity to participate in the Ironman California race. For those not familiar with Ironman they include a 2.4 mile swim, followed by a 112 mile bike ride and finishing with a 26.2 mile run. The Ironman race tests you not only physically but just as much mentally. I had a great day and finished with a time of 12 hour and 2 minutes. That is 2 hours faster than my last Ironman race. But race times don't really matter. What matters most is the growth that comes from the journey...not the race. Business and life lessons from the training from this year include advice given to me by my triathlon coach right before the race. "Solve problems one at a time." Through the course of a long race there will be problems. Stay present and solve them one at a time. The more present you can be the more effective you will be at solving what is right in front of you. There was a day that the idea of doing a race that lasts 140.6 miles in one day I would have thought impossible. Completing an Ironman is the realization that each of us are capable of more than we could imagine. My wish in posting this is to inspire anyone chasing a dream. It can be done if focus on achieving your goals one step at a time. Solve the challenges that stand in your way one at a time!!!!

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Congratulations to George Sivulka and the phenomenal team at Hebbia for raising an impressive $130 million in their Series B funding round! This round was led by Andreessen Horowitz, with significant participation from Index Ventures, GV (Google Ventures), and Peter Thiele. Their support underscores Hebbia’s groundbreaking work in AI and document search technology. Hebbia is redefining the future of useful AI. The team is building the human layer – the product layer – to AI, enabling it to work just like a human. Unlike traditional chatbots, Hebbia’s AI can handle complex tasks and vast datasets with the transparency and flexibility of a human analyst. This innovative platform is already deployed at scale by leading asset managers, law firms, banks, and Fortune 100 companies. Hebbia’s AI agents are transforming how these organizations operate, delivering unprecedented efficiencies and insights: - During the SVB crisis, asset managers instantly mapped exposure to regional banks across millions of documents. - Activist investors identified inconsistencies across countless 8Ks while filing proxy attacks. - Corporate lawyers gained a negotiation edge by quantifying market terms in real-time. - Thousands of AI agents priced private assets more effectively, conducted new types of diligence, screened more opportunities, and much more. Hebbia’s technology is poised to bring massive disruption to financial markets and professional services, driving progress and efficiency on an unparalleled scale. The team’s remarkable achievements over the last 18 months, including a 15X revenue growth, a quintupling of headcount, and driving over 2% of OpenAI’s daily volume, highlight their relentless dedication and vision. This substantial funding will enable Hebbia to further accelerate its growth, expand its team, and continue developing its AI-driven solutions. The company's mission is clear: to build the most important software product of the next 100 years. #StartupFunding #AI #TechInnovation #DocumentSearch #SeriesB #VentureCapital #TechNews #Innovation #Hebbia #Innovation #ArtificialIntelligence #Software #Growth #Technology

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Telco execs, check out my most recent blog to find out why I bought CloudSense and my plans to SUPERCHARGE it with AI to create the telco-specific CPQ you need.

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Telco execs, check out my most recent blog to find out why I bought CloudSense and my plans to SUPERCHARGE it with AI to create the telco-specific CPQ you need.

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It's that moment of the year where my partner Eric Hensel and I feel incredibly proud of what Sustainable Square's team has achieved during the first half of the year and how much they can accomplish moving forward. The #growth we've witnessed across #customer servicing, #tech adoption, project delivery, and product development has been nothing short of inspiring. Our clients have experienced the #positiveimpact of our enhanced service levels, thanks to the relentless dedication and innovative spirit of our #team. Every project has been delivered with precision, each product developed with a focus on #quality and user #experience, and our #revenue generation reflects the hard work and strategic thinking of everyone involved. But beyond the tangible metrics, what truly stands out is the remarkable growth in our company #culture. We've fostered a collaborative, supportive #environment where every voice is heard and every contribution is valued. This culture has been the bedrock of our success, driving us to new heights while we remain firmly focused on our positioning of #legacy_and_leadership. It's this #unity and shared #vision that makes us confident in our ability to continue breaking new ground in the months to come. Here's to pushing boundaries, setting new benchmarks, and reinforcing our legacy and leadership in the industry in the second half of the year! 𝗕𝗥𝗔𝗩𝗢 𝗧𝗘𝗔𝗠 - كفو #ESG #Sustainability #ClimateChange #SQUARELY #CSR #Impact

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A few months ago, we set out to address a major challenge for accounting teams—minimizing the manual grind of transaction reviews. As part of Brex's Summer Release, we reimagined the accounting experience by launching an 'automation suggestions' feature to bring AI-driven efficiency to the center of the workflow. Now that our customers have gone through several monthly close cycles, we’re seeing the results—and they’re impressive. Today, I’m excited to share some early adoption stats from this release: ➡️ Daily accepted suggestions have increased 20-fold, allowing customers to approve hundreds of suggestions with just one click—no more manual mapping or rule creation. ➡️ Over 91% of suggestions acceptance rate, indicating the increasing accuracy of our models. We’re thrilled to see these results, and it’s only the beginning – this momentum is freeing up time and resources for our customers, helping them automate more of their workflows, and make every dollar count.

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Great Place To Work® and Fortune magazine have honored Five9 as one of this year's Best Workplaces in the Bay Area. 🌟 This is Five9's second time being named to this prestigious list, coming in at No. 17. Earning a spot means that Five9 has surpassed rigorous benchmarks, establishing itself as one of the best workplaces among companies headquartered in the San Francisco Bay region. Learn more: #Five9 #BestPlacesToWork #CustomerExperience

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In complex multi- year transformation at scale, alignment to decisions across senior executives is critical. However, the processes to achieve alignment can burden (aka burnout) the team and seriously slow decision making. Building trust is a key component to success. Trust allows space for quicker decisions driven by intuition + experience + just enough data. The quote below from the article is something I’ve witnessed countless times resulting significant impacts. In my field, I’d expand the scope of this article to building cross functional trust between executives and their leaders, to trust each others instincts. “In the face of information overload, mounting risks and uncertainty, and intense pressures to make the right decisions, there is often debilitating evidence that delays our decision making. We put the choice off, rather than deciding. Trusting your gut allows leaders the freedom to move forward.”

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In my recent appearance on the Advanced Manufacturing Now podcast, I had the opportunity to discuss how the model-based enterprise provides an aggregated view of the product cycle—every work cell, work center, and stop on the supply chain. Take a listen. https://lnkd.in/gQBAhTHg #MBE #modelbasedenterprise #manufacturing

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What’s the key to unlocking AI’s true potential? Hint: It’s more than just hiring AI specialists. In his interview with TechCrunch, Gusto’s Edward Kim explains how we’re building an environment where everyone can leverage AI — creating a win-win-win for Gusto, our employees, and our customers. Discover how Gusto is using AI to empower businesses and teams: https://lnkd.in/dCj4brep

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