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Featured, Start ups

Secoda Raises $14M to Save Companies from Drowning in Data

TORONTO, Sept. 21, 2023 /CNW/ – Secoda, the only AI-powered modern data management platform, today announced a $14 million USD Series A funding round led by Craft Ventures, who led the company’s seed round in 2021. Also participating in the round were Abstract Ventures, existing investors YCombinator and Garage Capital, and leaders in the data space including Jordan Tigani (CEO of MotherDuck), Scott Breitenother (CEO of Brooklyn Data Co.), and Tristan Handy (CEO of dbt). The new round brings the company’s total funds raised to $16 million USD. A group photo of the Secoda team in Toronto, Canada. (CNW Group/Secoda) The investment will fuel further development of Secoda’s generative AI solutions to allow any employee to easily search, understand, and use company data, regardless of their technical ability or familiarity with the data. Secoda already integrates with the most popular data platforms such as Snowflake, dbt, and Looker, with new integrations being released consistently. Over the last year, Secoda’s customer count has grown by 5x, and the company manages over 100 million metadata resources (tables, dashboards, columns, queries, and more) for customers around the globe. Company data is a disjointed puzzle at most organizations. Data teams often have large tech stacks, full of applications that are unable to communicate with each other, and years of legacy knowledge that is not documented. Secoda enables data teams to take control of their data sprawl and reliably scale their infrastructure, while managing a complex data ecosystem. Issues data teams commonly face, such as lack of observability, governance, and lengthy setup and integration periods, are mitigated when companies leverage Secoda. “The explosion of data platforms over the past few years has led to a proliferation of data sources and assets. It has become increasingly important that companies not only have a full understanding of the lineage of their data from disparate sources but also harness their data to make more efficient and informed decisions,” said Jeff Fluhr, co-founder and partner at Craft Ventures. “Secoda has built a powerful AI-powered data copilot for companies to do just that. The company’s rapid growth is a testament to the strength of the team and their deep appreciation of their users’ needs.” Secoda’s AI Assistant combines the power of ChatGPT with the context of a company’s data and metadata. Data teams can leverage the AI Assistant to dramatically reduce mundane work by writing intelligent documentation in seconds, answering questions from any user about a company’s data and metadata, and automatically recognizing and tagging personal identifiable information. “We are intensely focused on addressing the foundational challenges of search in data, and generative AI is enabling us to move even faster than we expected,” said Etai Mizrahi, co-founder and CEO of Secoda. “Secoda is leveraging AI to help data teams manage complex data stacks while saving a substantial amount of time and resources. Our customers have been able to automate up to 40% of their most common data requests, cut down onboarding time for analysts by 50%, and reduce time spent on documentation by 90%. We plan on continuing to expand the functionality of Secoda AI and supercharge the efficiency of data teams.” Data teams at companies including Panasonic, Clover, Cardinal Health, Kaufland, and Vanta, use Secoda to automate data discovery, documentation, and take the grunt work out of their day. When Kaufland e-commerce experienced triple digit growth in active data users, they needed a system to make data discoverable in order for it to be used efficiently. Richard Hondrich, Head of Data and Analytics at Kaufland shared how the team used Secoda to automate data governance across over 15,000 tables: “The issue with most data catalogs is their limited functionality and inability to fit nicely within workflows. It’s a chicken and egg problem – if the data is not kept up-to-date, then the ecosystem will not be used. Secoda allows us to incorporate data governance into our existing processes without getting in the way.” To learn more about how Secoda can bridge the gap between data teams and the rest of the company, sign up for a demo of Secoda at [www.secoda.com]. SOURCE Secoda

AI, Featured, Security

K-12 Teachers Say Classroom Models Need to Evolve to Prepare Canadian Students for the Future

Only half of teachers surveyed in Canada say students are taught in ways that are relevant to the skills they need for the future, according to new survey from Microsoft TORONTO, Sept. 13, 2023 /CNW/ – As a new school year begins for millions of Canadian students, teachers across the country say it’s time to embrace new teaching models to better align with the realities, opportunities and challenges of today’s classroom and tomorrow’s workplace. In a new survey from Microsoft of over 500 Canadian teachers and school leaders, most said schools need to do more to adapt to the evolving needs of students. Teachers are calling for changes that make classrooms more engaging, inclusive and relevant for a new digital era. New models for a new era of digital innovation Teachers across the country say it’s time to embrace new teaching models. (CNW Group/Microsoft Canada Inc.) From AI to interconnected smart devices, teachers recognize that the rapid pace of technological innovation is changing the workforce students will be joining, but few classrooms are teaching the skills students need to succeed in the new digital world. In fact, ninety percent of teachers surveyed agree it’s important to teach students the digital skills they’ll need for modern life, but only half of teachers (52 percent) say students are taught in ways that are relevant to the skills they need for the future. Strikingly, the survey revealed an overwhelming majority of teachers (79 percent) felt data literacy and digital citizenship were essential skills for today’s students, but these topics were only taught in 22 and 53 percent of classrooms respectively. While teachers have just begun to consider the implications of AI in education, 41 percent of teachers believe that students should learn about generative AI to better equip them for life outside school and in their careers. That number rose to 50 percent among teachers of grades 7-12. “It’s crucial that we listen to teachers so we can better empower students in their learning and be prepared to contribute to Canada’s economic future” said Elka Walsh, Associate Vice President, Learning & Teaching, at Microsoft Canada. “We have a responsibility to address these gaps, reignite a love of learning, and help students thrive in a digital world.” Digital tools more prevalent since the pandemic, but not used effectively For many teachers, the pandemic spurred the adoption of digitally enhanced learning in the classroom. Eighty-two percent of teachers surveyed said their school’s use of digital tools started or increased with the pandemic. But only 35 percent of respondents said most teachers are equipped with the best digital tools to help them teach and a similar number (34 percent) said teachers receive the training needed to use these tools effectively. Six out of ten respondents said teaching methods should change to make the most of these tools. Among the most promising use cases for teachers, according to the survey, was time management. Eighty percent of teachers agree they need more tools to help them manage their time more productively – an unsurprising stat given that 86 percent of teachers rate their workload as high or very high. The results also indicated a clear difference in approach to technology in the classroom between those schools with an established sustainable digital strategy and those without. When asked if students were more engaged when digital tools are used in the classroom, three quarters of respondents with a digital strategy agreed. Among teachers in schools without a digital strategy, fewer than half agreed technology helped to increase engagement. Engagement and inclusion need a boost It is apparent that teachers are struggling to keep students engaged, particularly when faced with the emotional and wellbeing challenges related to the pandemic. Only half of teachers surveyed (51 percent) said students are taught in ways that engage them and keep their interest and only a third (35 percent) agree schools are succeeding in helping to address students mental and emotional wellbeing. Today’s teachers know inclusion and accessibility is crucial to help every student reach their potential. Ninety-five percent said inclusive and accessible teaching resources are somewhat or very important. But only 48 percent say current teaching methods are inclusive and only 46 percent feel students are taught in ways that are responsive to their individual needs. Teachers also want schools to do more to address the mental and emotional wellbeing of students (74 percent) and feel students are still emotionally challenged by the disruption of the pandemic (72 percent). “Canada’s teachers are telling us we need revitalized learning models so their students don’t get left behind” said Marc Seaman, Vice President, Education Segment for Microsoft Canada. “New models are critical to improve outcomes for all students and prepare them for the digital future.” Building on decades of work with policy makers, school leaders and educators around the world, Microsoft is committed to teacher and student success. Microsoft is innovating to deliver tools and resources to educators that are responsive to student and teacher needs, supporting inclusive and accessible learning environments. Through programs like Showcase Schools, Microsoft collaborates with schools in Canada and worldwide to demonstrate what’s possible to transform learning and deliver sustained results for students. Microsoft also offers free curated learning to help instructors adopt new digital tools and design inclusive learning. Visit Microsoft.com/education for more information. About the FUSE Insights SurveyThese results are taken from a survey of 503 teachers from across Canada. The survey was delivered online, in English and French, between 1st and 8th June 2023; and covered a cross section of teachers by geography – 39 percent are in Ontario and 29 percent in Quebec, 12 percent are in BC, 15 percent in the Prairies and 8 percent in the Atlantic provinces – and grade. Of the 503 teachers who completed the survey, 493 (95 percent) teach students themselves, and the respondents also included 20 school administrators, principals and vice-principals. 88 percent of respondents to the survey work at public schools and the remainder in private schools; a little over a third (37 percent) of teachers who completed the survey teach Kindergarten to grade 3, a quarter (26

Featured, Fintech, Start ups

Wealthsimple set to become first securities dealer to join Interac e-Transfer service

TORONTO, Sept. 27, 2023 /CNW/ – Wealthsimple, the financial services company on a mission to help Canadians achieve financial freedom, today announced it has secured provisional approval to join the Interac e-Transfer® service as a participant. Wealthsimple will become the first securities dealer to join the service. While the company currently offers Interac e-Transfer services for Canadians, becoming a participant will greatly expand those services, offering clients the same experience moving money as they would expect at a bank or credit union. An example of Wealthsimple’s managed investing product. (CNW Group/Wealthsimple) “For nearly 10 years, we’ve been breaking down barriers for our clients through simple, transparent financial products, earning the trust of millions of Canadians in the process,” said Michael Katchen, Wealthsimple CEO. “Joining the Interac e-Transfer service is both a milestone for the company, and also a sign of our commitment to being a leader in Canadian financial services.” Wealthsimple facilitates millions of transactions each month into and out of its platform, and between its products. As a member of Payments Canada, Wealthsimple recently secured approval for a settlement account with the Bank of Canada, granting it direct access to the pending Real-Time-Rail payment system. “Canadians used the Interac e-Transfer service to complete over a billion transactions in 2022. By broadening access to an expanded category of financial institutions, Interac is focused on enabling Canadian consumers and businesses to transact with confidence and leverage new innovative service offerings,” said Jeremy Wilmot, President & CEO at Interac. “I’m thrilled that Wealthsimple is set to join over 280 financial institutions in allowing customers to send, request and receive money between accounts using the Interac e-Transfer service.” Participation in the Interac e-Transfer service will unlock the potential for product innovation, an area where Wealthsimple has repeatedly proven itself. The company was the first to offer commission-free trading of stocks and ETFs; fractional shares of US and Canadian securities; regulated cryptocurrency trading and staking; a Shariah-compliant ETF; private investing opportunities for retail investors, eligibility for up to $300,000 in CDIC deposit insurance; and more. Wealthsimple serves more than three million Canadians and holds over $20 billion in assets. Its easy-to-use platform provides access to managed investing, self-directed trading, cryptocurrency, spending, saving, and tax filing services. Wealthsimple’s straightforward, educational approach to finance has led one-in-five Canadians under the age of 40 to trust Wealthsimple with their money. SOURCE Wealthsimple

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