Latest news with #PatrickThompson
Geek Wire
25-06-2025
- Business
- Geek Wire
Seattle startup Clarify lands $15M to take on Salesforce with AI-native ‘autonomous CRM'
GeekWire's startup coverage documents the Pacific Northwest entrepreneurial scene. Sign up for our weekly startup newsletter , and check out the GeekWire funding tracker and venture capital directory . Clarify co-founders, from left: Austin Hay, Patrick Thompson, and Ondrej Hrebicek. (Clarify Photo) Sales teams should spend more time closing deals — and less time entering data. That's the pitch from Clarify, a Seattle startup founded last year that just raised $15 million to grow its AI-powered CRM software platform designed to automate busy work. Instead of relying on sales reps to manually log interactions, Clarify connects to email, calendar, and call data, and uses AI to summarize meetings, suggest field updates, track pipelines, and prep for customer calls. Clarify faces stiff competition from giants such as Salesforce and Hubspot, as well as newer CRM startups. Other Seattle startups such as Highspot and Outreach also tackle sales automation and enablement. But CEO Patrick Thompson said many platforms 'bolt on' on AI features, while Clarify was built with AI at the core. 'We've spent a lot of time rethinking what the core workflows look like from the ground up with ambient AI,' he said. Clarify is initially targeting early stage startups and venture investors. 'Most of the people coming to us are choosing to go with something that's a little bit more modern, easy to use, and effectively AI-native,' Thompson said. (Clarify Image) The company has onboarded hundreds of teams into a pilot program since launching last year and recently opened up its platform publicly. It did not disclose revenue metrics. 'The active usage numbers are doing very, very well,' Thompson said. Thompson previously co-founded Iteratively, a data tooling startup acquired by Amplitude in 2021. He said the lessons from that company helped inform Clarify's product approach. Thompson co-founded Clarify alongside Ondrej Hrebicek, former CTO of Iteratively, and Austin Hay, a former Iteratively customer. 'We really want to build a generational company,' Thompson said. 'We have all the makings of that already. We have a great team and great investors, and we're building a great product.' USVP and Gradient led the Series A round, with participation from Madrona, Recall, Ascend, Essence, New Normal Fund, and Fika. Tim Porter, managing director at Madrona, said Clarify is 'at the vanguard of the autonomous GTM movement.' Clarity has raised $22 million to date and employs 24 people.
CTV News
10-06-2025
- General
- CTV News
Babies are ‘stealing the spotlight' at the Calgary Zoo this summer
Officials say there are new additions for visitors to the Calgayr Zoo to see everywhere they look.(Wilder Institute/Calgary Zoo) It's baby season at the Wilder Institute/Calgary Zoo. Officials say there are new additions for visitors to see everywhere they look. 'These arrivals aren't just adorable; they're part of important conservation work,' said animal care manager Patrick Thompson in a Tuesday news release. 'We hope they spark a love for wildlife in every visitor.' Already this year, the zoo has welcomed two Southern Bald Ibis chicks, three Spur-Winged Lapwing chicks, two North American River Otter pups, two Wood Bison calves, three Black-and-White Ruffed Lemur pups and a Humboldt Penguin chick. The zoo is also celebrating the pregnancies of the Malayan Tapir named Sempurna – who is expecting her first calf later this summer – and the Rock Hyraxes. It's also hoped there will be baby Turkmenian Markhors in the future as they've been observed breeding. Calgary Zoo babies Officials say there are new additions for visitors to the Calgayr Zoo to see everywhere they look.(Wilder Institute/Calgary Zoo) 'Zoo babies are stealing the spotlight this summer,' Thompson added. 'They bring a sense of energy and wonder, making each visit feel fresh and full of surprises.'
Yahoo
25-02-2025
- Business
- Yahoo
MediaAlpha Inc (MAX) Q4 2024 Earnings Call Highlights: Record Growth Amidst FTC Challenges
Transaction Value: $499.2 million in Q4, with P&C transaction value up sequentially. Adjusted EBITDA: $36.7 million in Q4, including $9 million of add backs related to the FTC matter. Health Vertical Transaction Value: $270 million for 2024, with a 14% take rate. Q1 2025 Guidance - Transaction Value: Expected between $415 million and $440 million, a 95% year-over-year increase at the mid-point. Q1 2025 Guidance - Revenue: Expected between $225 million and $245 million, an 86% year-over-year increase at the mid-point. Q1 2025 Guidance - Adjusted EBITDA: Expected between $24.5 million and $26.5 million, a 77% year-over-year increase at the mid-point. Cash and Net Debt: Ended the quarter with $43 million of cash and net debt to 2024 adjusted EBITDA of less than 1.3 times. Warning! GuruFocus has detected 5 Warning Signs with MAX. Release Date: February 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. MediaAlpha Inc (NYSE:MAX) reported a significant growth in transaction value, increasing by more than 150% year-over-year. The company achieved a remarkable growth in adjusted EBITDA, which grew by over 200% year-over-year. Record fourth quarter results were delivered across all key performance metrics, driven by strength in the P&C insurance vertical. MediaAlpha Inc (NYSE:MAX) has gained significant market share in the P&C sector due to attractive secular trends and strong execution. The company has a strong market position in the Medicare Advantage market, partnering with seven of the top 10 carriers. The health insurance vertical experienced a decline, with transaction value down 8% year-over-year due to ongoing headwinds in Medicare Advantage and softening under-65 demand. MediaAlpha Inc (NYSE:MAX) is facing a draft complaint and settlement demand from the FTC related to its under-65 health insurance business. The company had to record a $7 million reserve related to the FTC matter, impacting its adjusted EBITDA. Transaction values in the health vertical are expected to decline by a high-teens percentage year-over-year in Q1 2025. There is ongoing uncertainty regarding the resolution of the FTC matter, which could impact future financial results. Q: Can you provide more details on the FTC situation and the $7 million accrual? A: Steven Yi, CEO, mentioned ongoing discussions with the FTC and stated that updates will be provided once a resolution is reached. Patrick Thompson, CFO, explained that the $7 million reserve was calculated under US GAAP's contingent liability accounting, representing the lower end of estimated losses. This figure is subject to change as more information becomes available. Q: Could you expand on the P&C market trends and expectations for 2025? A: Steven Yi, CEO, expressed optimism for the P&C vertical in 2025, citing strong carrier profitability and increased competition in the marketplace. He noted that with rate actions slowing, carriers will need to focus on acquiring new customers. Elevated consumer shopping levels and strong early-year results are expected to drive further competition and growth. Q: What are the key initiatives beyond P&C, and what strategic investments are planned for 2025? A: Steven Yi, CEO, highlighted the significant growth potential in the Medicare Advantage market and ongoing investments in commercial insurance and agent business. The company is also focusing on data science to enhance efficiencies for publishers and advertisers. Q: How does the cost to acquire traffic impact your margins? A: Steven Yi, CEO, explained that MediaAlpha's business model, which relies on a marketplace of publishers rather than direct customer acquisition, minimizes the impact of rising traffic acquisition costs. The company benefits from increased carrier investment in customer acquisition without incurring direct costs. Q: Can you elaborate on the guidance assumptions for Q1, particularly in the health vertical? A: Patrick Thompson, CFO, stated that the health vertical is expected to decline in the high-teens year-over-year, with ongoing headwinds in Medicare Advantage and a slowdown in the under-65 business. Despite short-term challenges, the company remains optimistic about the long-term potential in the Medicare Advantage market. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
