Venture funding has remained fairly steady despite the pandemic, according to this report from KPMG. I couldn’t quite reconcile the graphs, which seem to show a modest downturn, with the words, which say activity is well ahead of 2019. It’s more clear that capital is more available for late-stage companies than new ones.
What’s really clear is the pandemic has accelerated digital transformation programs. This Twilio study found 79% of companies had increased their digital transformation budget and 92% are likely to add new digital communication channels. The average acceleration was estimated at six years.
This Fujitsu study of retail IT managers also finds growth in digital transformation budgets. Data is from February, so this might have changed. Alas, marketing ranks far behind other departments in transformation progress. Insult to injury: respondents said transformation in the finance department had as much impact on revenue as changes in marketing.
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