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Chargify, the payment management service owned by Scaleworks, has added revenue forecasting tools to its software as a service offering.

The company’s new revenue forecasting tools uses historical data and month-over-month performance pulled from a company’s billing platform.

The company says its new tool can cut forecasting down from two months to as little as two minutes.

With a suite of billing and revenue management tools, Chargify already has a good window into previous performance. And the company hopes those forecasting tools can help businesses benchmark their revenue progress.

Using the new forecasting tool, companies can pull baseline metrics from historical growth and churn data looking at three, six or 12-month averages to understand how historical trends could affect businesses, the company said.

Beyond forecasting, the toolkit from San Antonio-based Chargify will save the projections and automatically trigger benchmark tracking to actual performance alongside the baseline forecast.


TechCrunch

India said on Monday that it is moving ahead with its plan to revise existing rules to regulate intermediaries — social media apps and others that rely on users to create their content — as they are causing “unimaginable disruption” to democracy.

In a legal document filed with the country’s apex Supreme Court, the Ministry of Electronics and Information Technology said it would formulate the rules to regulate intermediaries by January 15, 2020.

In the legal filing, the government department said the internet had “emerged as a potent tool to cause unimaginable disruption to the democratic polity.” Oversight of intermediaries, the ministry said, would help in addressing the “ever growing threats to individual rights and nation’s integrity, sovereignty and security.”

The Indian government published a draft of guidelines for consultation late last year. The proposed rules, which revise the 2011 laws, identified any service — social media or otherwise — that have more than 5 million users as intermediaries.

Government officials said at the time that modern rules were needed, otherwise circulation of false information and other misuse of internet platforms would continue to flourish.

The Monday filing comes as a response to an ongoing case in India filed by Facebook to prevent the government from forcing WhatsApp to introduce a system that would enable revealing the source of messages exchanged on the popular instant messaging platform, which counts India as its biggest market with more than 400 million users.

Some have suggested that social media platforms should require their users in India to link their accounts with Aadhaar — a government-issued, 12-digit biometric ID. More than 1.2 billion people in India have been enrolled in the system.

Facebook executives have argued that meeting such demands would require breaking the end-to-end encryption that WhatsApp users enjoy globally. The company executives have said that taking away the encryption would compromise the safety and privacy of its users. The Supreme Court will hear Facebook’s case on Tuesday.

India’s online population has ballooned in recent years. More than 600 million users in India are online today, according to industry estimates. The proliferation of low-cost Android handsets and access to low-cost mobile data in the nation have seen “more and more people in India become part of the internet and social media platforms.”

“On the one hand, technology has led to economic growth and societal development, on the other hand there has been an exponential rise in hate speech, fake news, public order, anti-national activities, defamatory postings, and other unlawful activities using Internet/social media platforms,” a lower court told the apex court earlier.


TechCrunch

UrbanClap, a marketplace for freelance labor in India and the UAE, has raised $ 75 million in a new financing round to expand its business.

The Series E round for the four-and-a-half-year old India-based startup was led Tiger Global. Existing investors Steadview Capital, which led the startup’s Series D in December last year, and Vy Capital also participated in the current round. The startup, which has raised about $ 185 million to date, said some early investors sold portions of their stake as part of the new round.

Through its platform, UrbanClap matches service people such as cleaners, repair staff and beauticians with customers across 10 cities in India and Dubai and Abu Dhabi. The startup supports 20,000 “micro-franchisees” (service professionals) with around 450,000 transactions taking place each month, cofounder and CEO Abhiraj Bhal told TechCrunch.

Bhal said that UrbanClap helps offline service workers, who have traditionally relied on getting work through middleman such as some store or word of mouth networks, to find more work. And they earn more, too. UrbanClap offers a more direct model, with workers keeping 80% of the cost of their jobs. That, Bhal said, means workers can earn multiples more and manage their own working hours.

“The UrbanClap model really allows them to become service entrepreneurs. Their earnings will shoot up two or three-fold, and it isn’t uncommon to see it rise as much as 8X — it’s a life-changing experience,” he said. Average value of a service is between $ 17 to $ 22, according to the company.

In recent years, UrbanClap has also started to offer training, credit, and basic banking services to better support the service workers on its platform. On its website, UrbanClap claims to offer 73 services — including kitchen cleaning, hairdressing, and yoga training. It says it has served 3 million customers.

Bhal said that around 20-25% of applicants are accepted into the platform, that’s a decision based on in-person meetings, background and criminal checks, as well as a “skills” test. Workers are encouraged to work exclusively — though it isn’t a requirement — and they wear UrbanClap outfits and represent the brand with customers.


TechCrunch

Thumbtack just closed a new funding round of $ 150 million. Sequoia is leading the round, and the company is now valued at $ 1.7 billion. TechCrunch’s Kate Clark previously reported that the startup was raising again, but that it was a tough process.

In a candid blog post, co-founder and CEO Marco Zappacosta admits that the company faced multiple challenges. Thumbtack started as a simple marketplace for local professionals.

Clients could post a message saying that they were looking for carpenters, wedding planners or house cleaning services. Professionals then scrolled through listings and sent quotes. Customers eventually picked a professional.

While it was a huge hit, it didn’t scale well and created a ton of issues. “We took a business that was growing more than 80% year over year and we pressed pause,” Zappacosta wrote.

The startup rewrote the back end, created a new front end, pivoted to a new business model and essentially created a new product.

Thumbtack now automatically generates quotes based on your needs and your location. Given that you can get quotes in a few minutes, it didn’t make sense to charge professionals every time they send a quote. Now, professionals pay Thumbtack a small fee when customers contact them after a quote.

“Now growth has reaccelerated dramatically, and we have the runway to make Thumbtack the only platform they need to find the right customers,” Zappacosta wrote.

So it sounds like Thumbtack has seen the light at the end of the tunnel. With today’s new funding round, the company can now focus on attracting service providers again. According to the Wall Street Journal, this could be the last funding round before Thumbtack files to go public.


TechCrunch

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