Afternoon Coffee: Imported Washers and Solar Panels Hit with Steep Tariffs, Zylo Raises $9.3 Million in Series A

VTT Studio/ Adobe Stock

The Trump administration slapped steep tariffs on imported washing machines and solar panels Monday, saying the measures were needed to protect the viability of American businesses, Reuters reports. While domestic businesses mostly praised the moves, critics have said the new tariffs ultimately raise the costs for consumers of purchasing and installing the products.

Zylo Funding

SaaS optimization upstart Zylo announced Tuesday it had completed a $9.3 million Series A funding round backed by Bessemer Venture Partners, according to a press release. Zylo will use the funds to significantly grow its entire workforce, with a priority on the customer success and engineering teams, as well as expand its platform.

“The cloud computing revolution is underway, and the next big stage involves more strategic management of cloud investments by leading enterprises,” said Byron Deeter, a top cloud investor and partner at Bessemer Venture Partners. “Zylo is a forward-thinking SaaS optimization platform that transforms the way organizations think about and manage their SaaS. I look forward to being an active partner to this veteran team and their big vision.”

Canadian Procurement

The Canadian government announced earlier this month a new facilitate agile procurement, according to a press release. The initiative seeks to improve the accessibility of the government’s online services and to make its procurement process simpler and less burdensome for small businesses. Through a Call for Proposals issued in December 2017, industry will take part in a challenge-based procurement process that will include a pitch event in March 2018 with a contract being awarded in the spring.

Global Economy

And finally, a Davos update: The International Monetary Fund (IMF) said Tuesday the global economy will continue to grow more than previously expected in 2018 and 2019, the Wall Street Journal reports. According to forecasts released at the World Economic Forum, world output, adjusted for inflation, will grow 3.9% a year in 2018 and 2019, driven mainly by the influx of easy cash from the recent U.S. tax reform.

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *