TechCrunch Summary (2023-04-26 10AM)

Source: Spend management firm Clara secures $60M amid rapid transaction growth in LatAm

Summary
Brazilian spend management firm Clara raised $60m in a funding round led by GGV Capital. Clara, whose product launched last year, provides reporting software, locally-issued corporate cards, bill pay and financing solutions, and has an annual run rate of $1bn.

Fact

💰 Clara, a Brazilian spend management company, closed on $60m in equity funding, led by GGV Capital.

💻 The firm provides financial reporting software, corporate cards, bill pay and financing solutions.

📈 Clara has around 10k customers in Latin America, including Brazil, Mexico and Colombia. And reportedly has an annual run rate of $1bn 

🎢 The funding follows two earlier rounds of investment last year, bringing the company’s total equity financing raised to $160m. However, the company has declined to provide an update on its $130m valuation from May last year.

👥 Clara plans to use the new funds to grow its engineering and product teams and technology development and to round out its leadership team.

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Source: Workers are wary — but also optimistic — about AI

Summary
Workers are optimistic yet mindful of how AI will impact their work-lives. Two surveys showed that while companies’ interest in AI and investment remain strong, employees are unsure of their AI-driven futures.

Fact

💼 72% of companies plan to “significantly” increase their AI investments annually over the next 3 years

🌟 59% of companies view AI as critical to their business in the next year

😕 Workers’ reactions to AI are mixed

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Source: Ask Sophie: My STEM OPT expires in 30 days, what are my options?

Summary
An individual’s STEM OPT is about to expire and their company did not register them in the H-1B lottery. There are still options available such as a 60-day grace period and enrolling in continuing education, CPT, or changing status to B visitor.

Fact
💼 If you can’t find employment and your STEM OPT expired, you have a 60-day grace period and can either continue your education, enroll in CPT (Curricular Practical Training), change your status to visitor or wrap up your affairs and depart the US.

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Source: Instacart rolls out new ways for users to find deals on its app

Summary
Instacart has introduced new ways for users to find deals on its app, including personalized deals based on users’ past orders and a “Stores to Help You Save” section on the app’s home screen. Users can also take advantage of in-store deal perks by adding loyalty cards to their accounts. Additionally, Instacart has expanded its EBT SNAP payments program to all Instacart retail grocery partners by 2030 and will allow customers to shop using their Temporary Assistance for Needy Families (TANF) benefits in the future.

Fact

💰 Instacart has helped users save more than $2 billion with deals, discounts, and membership benefits.

🔎 The “You Items on Sale” feature on Instacart’s app leverages its AI recommendation systems to give users personalized deals based on their past orders.

🏬 The “Stores to Help You Save” section helps users find stores offering discounts or loyalty savings, and “Stock Up and Save” promotions offer thresholds for discounts.

📈 Instacart+ members get free delivery for orders over $35, while the next-day delivery option gives a discount if you schedule your groceries ahead of time.

💳 Users can add loyalty cards to their Instacart accounts to take advantage of in-store deal perks provided by certain retailers.

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