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☆ Monzo: 2024 CNBC Disruptor 50
▼ + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

As a digital-only bank, Monzo operates entirely within a mobile app. In September, the company partnered with BlackRock , the asset management giant, to offer three funds to Monzo customers. Founded in 2015, it has more than nine million customers, making it the largest digital bank in the U.K. and the seventh largest U.K. bank by customers. In March, Monzo raised $430 million in a new round of funding led by CapitalG, the venture arm of Alphabet. It appointed Conor Walsh, a former executive at Block's Cash App division, as the CEO at Monzo U.S. in October.

Persons: Monzo, neobanks, Starling, —, CapitalG, Conor Walsh, Anil Organizations: BlackRock, Starling Bank, Zopa, Sutton Bank, Monzo, Financial Times Locations: Monzo, U.S

☆ British neobank Monzo boosts funding round to $610 million to crack U.S. market, launch pensions
▼ + stars: | 2024-05-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

MonzoBritish neobank Monzo said Wednesday that it's raised another $190 million, lifting the total it's raised so far this year to $610 million. Singaporean sovereign wealth fund GIC also participated in Monzo's latest fundraise, a source familiar with the matter told CNBC. The total $610 million round marks the single-biggest funding round for a European fintech in the past year, according to Dealroom data. "What I like about how we're approaching this is, at the heart of it, it's not just words," Anil told CNBC in an exclusive interview Tuesday. European expansion is also on the cards, Anil said, although he didn't commit to a date for when this will happen.

Persons: Anil, Monzo, it's, GIC, we've, Monzo's, Revolut Organizations: CNBC, Hedosophia, Barclays, NatWest, BlackRock, JPMorgan, Citibank Locations: U.S, Berlin

☆ British neobank Monzo raises $430 million in Alphabet-led round to relaunch in the U.S.
▼ + stars: | 2024-03-05 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

British digital bank Monzo on Tuesday raised $430 million in fresh capital from investors to help it relaunch its services in the U.S.Monzo raised the money in a new funding round led by CapitalG, the independent venture arm of Google parent company Alphabet . HongShan, the Chinese venture capital firm that split from Sequoia Capital last year, also backed the round, alongside existing backers Tencent and Passion Capital. Monzo, which is one of the U.K.'s most popular app-only banks, said the fresh cash would be used to accelerate its expansion plans, including a renewed attempt at expanding its service to the U.S."With backing from global investors, we have the rocket fuel to go after our ambitions harder and faster, building Monzo into the one app that sits at the centre of our customers' financial lives," Monzo CEO TS Anil said in a statement. "Each milestone we've reached to this point has given us more strength and speed to make strides towards our mission — now we'll scale to even greater heights and seize the huge opportunity ahead."

Persons: Monzo, CapitalG, Tencent, Anil Organizations: Google, Sequoia Capital, Passion Locations: U.S

☆ Music Licensing Giant BMI Sells to Private Equity Firm
▼ + stars: | 2023-11-21 | by ( Ben Sisario | More About Ben Sisario | ) www.nytimes.com time to read: +1 min

BMI, the giant music licensing agency that represents hundreds of thousands of songwriters, including Taylor Swift, Dolly Parton, Kendrick Lamar and Lady Gaga, has agreed to sell itself to New Mountain Capital, a private equity firm, the organization announced on Tuesday. BMI, along with its archrival ASCAP, is one of the major performing rights organizations in the United States. Terms of the deal between BMI and New Mountain were not disclosed. In its announcement, BMI, whose full name is Broadcast Music Inc., said that the sale is subject to approval by its shareholders and “customary” regulatory review, and that it expects the deal to close in the first quarter of 2024. According to the announcement, CapitalG, a fund affiliated with Alphabet, the parent company of Google, is also acquiring a minority stake in BMI.

Persons: Taylor Swift, Dolly Parton, Kendrick Lamar, Lady Gaga Organizations: BMI, archrival ASCAP, Inc, Google Locations: United States

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 9 (Reuters) - OpenAI's announcement on artificial intelligence "apps" do not spell the death knell for nascent startups building AI products, two OpenAI investors said at a Reuters NEXT conference on Thursday. Investors are still hunting for new AI products that could help consumers interact better with the technology and address deep tech issues such as brain computer interface, they said. We're in an intermediary step in a decades-long revolution," Konstantine Buhler, partner at Sequoia Capital, told the conference. Avery Klemmer, investor at Thrive Capital, which recently increased its investment in OpenAI, also said she sees opportunities for the rise of consumer applications beside ChatGPT. Despite recent frenzied investments into the technology by companies and venture capital firms, analysts and investors say development of AI products is still in the early stages.

Persons: Dado Ruvic, Konstantine Buhler, Avery Klemmer, ChatGPT, Klemmer, Jill Chase, Krystal Hu, Sayantani Ghosh, Deepa Babington Organizations: REUTERS, Reuters NEXT, Sequoia Capital, Sequoia, Microsoft, Thomson Locations: OpenAI, New York

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 9 (Reuters) - OpenAI's announcement on artificial intelligence "apps" do not spell the death knell for nascent startups building AI products, two OpenAI investors said at a Reuters NEXT conference on Thursday. Investors are still hunting for new AI products that could help consumers interact better with the technology and address deep tech issues such as brain computer interface, they said. We're in an intermediary step in a decades-long revolution," Konstantine Buhler, partner at Sequoia Capital, told the conference. Avery Klemmer, partner at Thrive Capital, which recently increased its investment in OpenAI, also said she sees opportunities for the rise of consumer applications beside ChatGPT. Despite recent frenzied investments into the technology by companies and venture capital firms, analysts and investors say development of AI products is still in the early stages.

☆ AI startup AlphaSense valued at $2.5 bln after latest funding round
▼ + stars: | 2023-09-28 | by ( Jaiveer Shekhawat | ) www.reuters.com time to read: +1 min

Sept 28 (Reuters) - Market intelligence platform AlphaSense has raised $150 million in a fresh round of funding that boosted its valuation to $2.5 billion, underscoring strong demand for artificial intelligence (AI) startups. Big Tech companies including Amazon (AMZN.O) and Microsoft (MSFT.O) have been pouring billions into securing ties with AI startups that are reshaping their industry. When asked if AlphaSense has any plans for an initial public offering, CEO Jack Kokko told Reuters the company has "plenty of capital more than we could hope for" right now. Investing in new initiatives, especially in generative AI, is a focus too as the company explores expanding its product offering, Kokko said in an interview. AlphaSense helps its customers extract relevant information from a trove of public and private content such as equity research, earnings calls, company filings and news.

Persons: Goldman Sachs, AlphaSense, Jack Kokko, Kokko, Mary Meeker, Jaiveer Singh, Devika Organizations: Viking Global, Big Tech, Amazon, Microsoft, Reuters, Thomson Locations: Bengaluru

☆ Google's old guard shifts roles as the company searches for itself
▼ + stars: | 2023-08-21 | by ( Jennifer Elias | ) www.cnbc.com time to read: +5 min

Jeff Kowalsky | Bloomberg | Getty ImagesA string of Google executives have changed their roles in the span of several months, in a shift that has sidelined many of company's remaining old guard. The changes encompass high-profile executives such as CFO Ruth Porat, YouTube CEO Susan Wojcicki, and employee No. Some say they have left their roles for a new challenge and others have left to seek opportunities in AI. While she'll still be in an advisory role at Google, she said, she wanted to "start a new chapter." Google's AI head, Jeff Dean, who's been at Google since 1999, became a chief scientist as part of the change.

Persons: Ruth Porat, Jeff Kowalsky, Susan Wojcicki, Urs Hölzle, Susan Wojcicki —, Sergey Brin, Larry Page, she'll, Robert Kyncl, David Lawee, Hölzle, Morgan Stanley, Porat, Courtenay Mencini, who've, it's, OpenAI, Sundar Pichai, Google execs, Prabhakar Raghavan, HJ Kim, Geoffrey Hinton, Demis, James Manyika, Jeff Dean, who's, It's Organizations: Inc, Michigan Central Station, Bloomberg, Getty, Google, YouTube, Warner Music Group, CapitalG, CNBC, New York Times, McKinsey, Google Research Locations: Detroit , Michigan, Silicon Valley

☆ CVS and NEA just sank $166 million into a startup building a new care model for kidney disease. Here's the pitch deck that convinced CapitalG to back Strive Health's Series B.
▼ + stars: | 2023-06-07 | by ( Lydia Ramsey Pflanzer | Megan Hernbroth | Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Strive Health just raised $166 million in May from investors like NEA and CVS Health Ventures. See the presentation that got Strive Health a $140 million Series B in March 2021. In May, Strive Health announced it raised $166 million in Series C funding led by healthcare venture firm NEA. The round included CVS Health Ventures, CapitalG, Echo Health Ventures, Town Hall Ventures, Ascension Ventures, and Redpoint. The Series C is Strive Health's latest raise since its $140 million Series B in March 2021.

Persons: Chris Riopelle, Riopelle Organizations: NEA, CVS Health Ventures, Health, Echo Health Ventures, Hall Ventures, Ascension Ventures, CapitalG, Google

☆ Alphabet's A.I. frenzy hits startup scene as CapitalG unit leads $100 million investment in AlphaSense
▼ + stars: | 2023-04-11 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

Google's hefty investment in artificial intelligence and the latest boom in generative AI doesn't end with its homegrown products. Alphabet's late-stage venture capital arm, CapitalG, told CNBC that it just led a $100 million investment in corporate data firm AlphaSense, valuing the company at $1.8 billion. Generative AI wasn't a talking point in the prior two rounds because the term hadn't yet jumped into the popular lexicon. Generative AI has been the one bright spot this year, turning rather frothy in some corners. He said the money will also help AlphaSense improve its technology, taking advantage of advances in generative AI.

☆ AlphaSense valued at $1.8 billion after CapitalG-backed fundraise
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - AlphaSense said on Tuesday it has raised $100 million in a fresh round of funding backed by Alphabet's venture capital arm CapitalG that valued the market intelligence platform at $1.8 billion. Heightened volatility in the stock markets due to the U.S. Federal Reserve's monetary tightening have prompted companies to tap private investors as the appetite for public listings remains subdued. New York-based AlphaSense said it will use the funds to further its advanced artificial intelligence capabilities. Last year, the company was valued at $1.7 billion after raising $225 million. AlphaSense helps its customers extract relevant information from a trove of public and private content such as equity research, earnings calls, company filings and news.

“VCs think this is the new internet,” a generative AI founder in the United States told Reuters. While the closure of Silicon Valley Bank may hamper debt financing, venture capitalists said interest in funding AI startups remains high, especially for top early-stage founders. Investors sense opportunity, even for a sale if not an initial public offering; some are betting that AI startups might outpace bigger rivals, encumbered by their size. You.com, a search engine company founded in 2020 and backed by Salesforce’s CEO Marc Benioff, has found new life from incorporating generative AI technology. It has attracted more attention from users and investors, handling millions of searches per day, the company told Reuters.

☆ Robinhood COO Howard to retire at year-end
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: 1 min

March 15 (Reuters) - Online brokerage Robinhood Markets Inc (HOOD.O) said on Wednesday its Chief Operating Officer Gretchen Howard will retire at the end of 2023. Beginning April 3, Howard will take on the role of special adviser, Robinhood said. Before her stint at Robinhood, Howard was a partner with CapitalG, Alphabet Inc's (GOOGL.O) venture capital arm. Prior to that, she was also a vice president at Fidelity Investments. Reporting by Niket Nishant in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ In the midst of the AI boom, investors are doubling down on diligence. Here are the five questions VCs are asking every generative AI startup during pitches.
▼ + stars: | 2023-03-02 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +7 min

Buzzy generative AI startups have so far avoided the troubles plaguing the rest of the tech world. Here are the five diligence questions investors are asking generative AI startups, according to VCs. But for generative AI startups, 2023 has been much of the same — and that hasn't been a bad thing. Insider spoke with eight of these VCs about the top five questions they're asking generative AI startups during diligence processes. One hallmark of generative AI startups are their eye-staggering round sizes.

☆ Alphabet venture arm CapitalG names Laela Sturdy new head of firm, David Lawee steps aside
▼ + stars: | 2023-03-01 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

CapitalG partner Laela Sturdy is on track to be one of the year's biggest investors. Alphabet's growth stage venture arm, CapitalG, has named Laela Sturdy its new leader. The move means CapitalG will be one of the few venture firms to be led by a female partner. Generally speaking, CapitalG invests a lot like other growth-stage firms, but with only one limited partner as an investor -- its parent company, Alphabet. "I would say the value Laela has provided has been significantly higher than the money anyone's provided″ Duolingo CEO Luis Von Ahn told CNBC at the time.

☆ VCs have swapped out tennis rackets and golf clubs for pickleball paddles. Here's why the sport has become one of the hottest hobbies in Silicon Valley.
▼ + stars: | 2023-01-28 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +5 min

Pickleball has exploded in popularity in recent years, becoming America's fastest-growing sport. From building relationships to escaping stress, here's why VCs are obsessed with the sport. In the background, pop music floated through the air as the group prepared for a trying battle of wits and athletic prowess — pickleball. Once reserved for the quiet neighborhoods of suburbs and 55-plus retirement communities, pickleball has exploded onto the tech and VC scene in recent years, investors say. A networking toolAnd other aspects of the sport make it an ideal pick for a hobby or networking tool, VCs added.

☆ Startups find better access to talent as top tech companies cut jobs, freeze hiring
▼ + stars: | 2022-12-29 | by ( Jennifer Elias | ) www.cnbc.com time to read: +8 min

More than 50,000 tech workers were let go from their jobs in November, according to data collected by the website Layoffs.fyi. “Given the tech layoffs and lower hiring by the big-tech companies, folks are looking for smaller tech companies to join,” said Christopher Fong, founder of Xoogler.co, a network for ex-Google employees. In the absence of the stability that the largest tech companies once offered, workers are looking to startups and midsize companies that offer greater flexibility and, in some case, the opportunity to have a bigger impact. “I tried not to think a lot about tech layoffs when interviewing," Bell said. Lauren Illovsky, talent partner for Alphabet's CapitalG venture firm said “hiring has gotten a little easier" for the group's portfolio companies.

☆ See the pitch deck that startup Assembly used to convince investors to bet $10 million on its approach to business software
▼ + stars: | 2022-12-12 | by ( Melia Russell | ) www.businessinsider.com time to read: +5 min

Assembly is a software app aimed at helping businesses manage their teams and projects. Here's the pitch deck it used to fundraise at an interesting time for the business apps category. Instead of splurging on a dozen business apps, they want "one single Swiss Army knife," said Hunter Walk, an Assembly investor. "One of the things we're trying to do is help you speed up your work," Purvis said, "and make it more delightful." Read the pitch deck Assembly used to woo clients and to land a preemptive funding offer in 2022:

☆ New San Francisco clubhouse represents a milestone moment for executive women in tech
▼ + stars: | 2022-11-26 | by ( Jennifer Elias | ) www.cnbc.com time to read: +6 min

Executive women platform Chief opened a new clubhouse in San Francisco this week. ‘Sense that this is a first'On the opposite coast, a counterpart executive clubhouse just opened in San Francisco and it holds great meaning beyond its four walls. Chief's San Francisco clubhouse includes a full-service bar. A month after the San Francisco Chief club's opening, women say they already see it as a milestone moment that represents more than just a new building. “It’s interesting coming full-circle and it feels long overdue.”Executive women platform Chief opened a new clubhouse in San Francisco this week.

☆ 7 recruiters at high-flying venture firms like Accel, Index, and Lightspeed share their best tips for jobseekers
▼ + stars: | 2022-11-24 | by ( Melia Russell | ) www.businessinsider.com time to read: 1 min

"Be honest about why you need to find a new role"Lauren Illovsky is a talent partner at Gradient Ventures. Gradient VenturesPeople who get laid off might be tempted to try to hide it from recruiters. There's no need for tricks, said Lauren Illovsky, a talent partner at CapitalG, a firm that's backed by Alphabet. "In this climate, you don't need to worry about reputational damage from being let go due to a company restructuring or change in company priorities," Illovsky said. She tells people to treat a layoff like any other job transition.

☆ A top investor is now taking aim at Alphabet, saying it has too many employees, pays them too much, and it’s burning money on bad bets.
▼ + stars: | 2022-11-15 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Major Alphabet investor TCI sent a letter to Alphabet's CEO Sundar Pichai on Tuesday. It also called for losses to be "reduced dramatically" in Waymo, Alphabet's self-driving car unit. The letter noted that "the cost base of Alphabet is too high and management needs to take aggressive action." Over that time, Alphabet's employees have more than doubled from just above 80,000 to close to 190,000. TCI was not only vexed by Alphabet's headcount, but also by the company's above-market compensation rates.

☆ Women in venture capital are writing the rules of maternity leave and bending the male-dominated culture to their will
▼ + stars: | 2022-10-31 | by ( Melia Russell | Madeline Renbarger | ) www.businessinsider.com time to read: +13 min

And with more women entering the male-dominated venture industry, firms are being forced to craft maternity leave policies on the fly to accommodate new mothers. Forty years ago, the clubby male world of venture capital admitted so few women that maternity leave as a benefit was effectively nonexistent. "There is no playbook about how to take maternity leave or raise a family while also accelerating your career as an investor." Lux CapitalLike in many male-dominated industries, maternity leave as a benefit for investors doesn't come up in conversation until someone needs it. Though, the best policies, investors said, give women choices about how they operate on leave, rather than prescribing a one-size-fits-all leave.

☆ How the cloud-software startup Gusto won over investors and small businesses by breaking away from the pack
▼ + stars: | 2022-09-22 | by ( Melia Russell | ) www.businessinsider.com time to read: +7 min

Still, tools for small businesses is a huge market — one that a tech industry that has focused on the more lucrative enterprise market has largely ignored. According to the Small Business Administration, there are 32 million small businesses in the US employing about 61 million people, nearly half of the country's private workforce. As companies grow and chase larger enterprises as customers, they lose sight of the discrete needs of small businesses, she said. The startup hopped on pandemic-era workplace trends, adding products for small businesses to apply for government loans and for employees to access their wages between paychecks. GustoGusto has ruthlessly prioritized areas like payroll and tax-filing that small businesses need to run.

☆ See the presentations that hot healthcare startups used to raise millions from top VCs
▼ + stars: | 2022-09-08 | by ( Lydia Ramsey Pflanzer | ) www.businessinsider.com time to read: +8 min

Here are the presentations obtained by Insider that healthcare startups have used to raise millions. Even so, healthcare startups raised $15.8 billion in the first half of the year, according to Silicon Valley Bank. Insider rounded up all the presentations we've published that healthcare startups have used to raise cash from investors. For instance, check out the 13-slide presentation heart-health startup Miga Health used to raise $12 million in seed funding. Brightside used this presentation to break through a crowded field of mental health startups and convince VCs to invest $24 million.

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