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☆ Inside the investing strategy of Hunterbrook Capital, the news-driven hedge fund. Can it succeed in a ruthless industry?
▼ + stars: | 2024-04-29 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +6 min

Small team, limited scopeThe hedge fund makes trades based solely on news from Hunterbrook Media, its media sister company, sometimes getting advanced copies of the articles and placing trades before publication. AdvertisementThe hedge fund, however, has just one sole full-time employee. Before a story is published on Hunterbrook Media, the firm's general counsel reviews it to make sure there's not any insider information — such as leaked earning figures — in it. AdvertisementIf the general counsel and the executives green light the story to be shared, then it goes to the hedge fund — in other words, Dunlevie and Horwitz — prepublication. Opportunities few and far between so farInvestigations from Hunterbrook Media so far have less than a 50% hit rate on turning into trades for the hedge fund.

Persons: —, Nate Anderson's Hindenburg, Carl Icahn's, Nathaniel Horwitz, Matt Murray, Paul Steiger, Bethany McLean, That's, Courtney Dunlevie, Horwitz, Sam Koppelman, Brian Koppelman, Dunlevie, Horwitz — prepublication, isn't, It's Horwitz, Matt, Pulitzer, Tony Horwitz, Geraldine Brooks, Cash, Hunterbrook, Marc Lasry, David Fialkow, Matt Cherwin, we're, " Horwitz Organizations: Service, Business, Hunterbrook, Hunterbrook Media, Wall Street, Barclays, Commonstock, Phoenix Suns, Avenue Capital, Catalyst, JPMorgan Locations: Italian, Korean, Brazil

☆ Healthcare Startup Valuations Are Coming Back to Earth — Except in AI
▼ + stars: | 2024-04-15 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +7 min

The frenzy has investors across industries rushing to get into AI deals, including in healthcare. AdvertisementStill, healthcare startups using AI have already raised hundreds of millions of dollars this year, especially to automate tedious administrative tasks for providers and health plans. Andrew Arruda, CEO of Flexpa FlexpaThe AI long-haulNot every startup needs to be an AI startup. AdvertisementPlus, healthcare companies that do want to use AI face higher stakes than other industries, contending with numerous privacy, regulatory, and safety issues, Kong noted. For example — if healthcare AI makes a mistake, could patient health be impacted?

Persons: —, Scott Barclay, Nina Achadijan, Shiv Rao Abridge, VCs, nabbed, CodaMetrix, Aike Ho, Christina Farr, Andrew Arruda, that'll, Flexpa, he's, Flexpa's, Kong, Todd Cozzens, it's Organizations: Service, Business, Insight Partners, ACME Capital, nab, Catalyst, HealthQuest, Transformation Locations: Tech, Kong

☆ Former Amazon Robotics chief raises $100 million for his 35-person startup, pushing the valuation over $500 million
▼ + stars: | 2024-04-10 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

Read previewAnother robotics startup has raised a large amount of money, signaling a rebound in investor appetite in the space. Collaborative Robotics, an automation startup founded by former Amazon Robotics chief Brad Porter, just raised $100 million in a round led by General Catalyst. The latest round values Collaborative Robotics at more than $500 million, Porter told Business Insider. Founded in 2022, Collaborative Robotics has 35 employees and deployed its first product earlier this year. Mayo Clinic, which also invested in Collaborative Robotics, is one of the early customers, he added.

Persons: —, Brad Porter, General Catalyst, Porter, hasn't, Pitchbook, There's Organizations: Service, Robotics, Amazon Robotics, General, Bison Ventures, Industry Ventures, Lux Capital, Sequoia Capital, Khosla Ventures, Business, Physical Intelligence, Mayo Clinic, Venture

☆ This biotech startup is finding new cancer drugs with $75 million from General Catalyst. Here's the pitch deck Georgiamune used to raise its Series A.
▼ + stars: | 2024-03-26 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

Then, at the Georgia Cancer Center at Augusta University, he began the research that would eventually spin off into his first startup, Georgiamune. The same month, Georgiamune also got FDA clearance to begin human clinical trials for its first cancer drug candidate. Georgiamune's primary drug target works to solve a problem posed by another type of cancer drug on the market, called checkpoint inhibitors. For a Series A biotech startup, Georgiamune has an unusually extensive pipeline, with nine biological targets identified internally, all of which use different mechanisms of action than existing drugs. AdvertisementHere's the 21-slide pitch deck Georgiamune used to raise a $75 million Series A co-led by General Catalyst.

Persons: —, Samir Khleif, King, Khleif, Catalyst, CJNV BioVenture, Georgiamune, doesn't, Amy Abernethy, Khleif's, General Catalyst Organizations: Service, King Hussein Cancer Center, Georgia Cancer Center, Augusta University, Business, Parker Institute for Cancer, Mubadala, Alexandria Venture Investments, Catalio Capital Management, Verition Fund Management, Bicara Therapeutics, Therapeutics, General Locations: Jordan, Verily

☆ Exclusive: Glen Tullman's startup Transcarent is raising $125 million in new funding at a $2.1 billion valuation
▼ + stars: | 2024-03-25 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Read previewLivongo veteran Glen Tullman's latest venture, healthcare startup Trascarent, is raising a Series D round, Business Insider has learned. The sources said the round values Transcarent at about $2.1 billion. Related storiesIt's been a difficult fundraising environment for growth-stage healthcare startups — and that's reflected in Transcarent's latest fundraising push. Transcarent has raised $298 million to date, last grabbing $200 million in a January 2022 Series C round that boosted its valuation to $1.6 billion. Transcarent also acquired 98point6's virtual care platform in March 2023 to offer on-demand telehealth care.

Persons: —, Glen Tullman's, General Catalyst, Leslie Krigstein, Transcarent, Tullman, Teladoc, 98point6 Organizations: Service, General, Business, Catalyst, Human, Ally, Group, Alta Partners, Merck Global Health Innovation Fund, Jove Equity, Ventures, GreatPoint Ventures, Intermountain Healthcare, Rush University Medical, Soda Health Locations: Transcarent

☆ Venture capital firm's plan to buy nonprofit hospital system has Ohio community on edge
▼ + stars: | 2024-03-02 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +17 min

In late 2022, Harrison joined venture firm General Catalyst, which has backed tech highfliers like Stripe, Snap and Airbnb . This is the first holistic transformation of a health system to a thoughtful combination of digital and in-person care." "It just makes people a little nervous, and it doesn't feel quite aligned with this concept of health care being a human right." To revolutionize how we care for patients, we in health care are doing the same." "This is not like a turnaround, this is not a distressed system," Harrison said.

Persons: Marc Harrison, who's, Astrid Stawiarz, Mark Zuckerberg, Elon Musk, He's, screeds, Harrison, Catalyst, HATCo, Fitch, Ceci Connolly, Connolly, She's, Freddy Krueger, John Bass, Bass, he's, Chris Bischoff, Bischoff, it's, Harrison isn't, Michael Greeley, Greeley, Beaumont, Cliff Deveny, hadn't, Deveny, Ben Sutton, Sutton, Shammas Malik, James Hardy, Hardy, Mayor Malik, Malik, we've, Capital's Greeley, Catalyst's Organizations: Healthy, CNBC, Intermountain Healthcare, Catalyst, Summa Health, Health Assurance Transformation Corporation, Summa Health Medina, Urban Institute, Fitch Ratings, Alliance of Community Health, General Catalyst, HCA Healthcare, University of California Davis Health, Intermountain, Flare Capital Partners, Beaumont Health, Health, Akron, Ideastream Public Media, HATCo Locations: New York City, Silicon Valley, Utah, Ohio, Harrison, PitchBook, U.S, Canada, Israel, Michigan, Beaumont, Akron, Summit County, Akron's

☆ Why 7 prominent VCs are investing millions in new social startups like Diem, Lex, and 222
▼ + stars: | 2024-03-01 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: +8 min

Mervana Parekh is a principal at Acrew and has invested in social startups like Diem, Afterparty, and Anything World. Best Nights VC. Nichols is a founding managing partner at MaC, which recently invested in social startups like Spill and Swsh. Boyce has backed a slew of new social startups, including Diem, Lex, Koodos Labs, and Swsh, alongside associate Rhian Horton. In 2024, Best Nights is looking to invest in companies that facilitate travel experiences after hearing people say their best nights have happened during trips or vacations, said de Silva.

Persons: —, Connie Chan, Mervana Parekh, Peter Boyce II, Marlon Nichols, Catalyst, Web3, Peter, Diem, Afterparty, Lorrain de Silva, Andrew Kahn, Miley Cyrus, Lorde, Kahn, Aaron Matusow, Dan Kruchkow, Nichols, Elizabeth Weil, Kevin Weil, John Smothers, Boyce, Lex, Rhian Horton, Lorrain, Silva, BestNights, Aaron Leithäuser, Gen Z, Peter Boyce, de Silva, Acrew Organizations: Service, Business, Acrew, Stellation, MaC Venture, VCs, Stanford University, Startup, Pudgy Penguins, Crush Ventures, VC, Crush, MaC Venture Capital, MaC, Catalyst, Koodos Labs, Big Tech Locations: 1kx, San Francisco , New York, Lisbon, Acrew, San Francisco, Berlin, Los Angeles and New York, Los Angeles, New York, Rythm

☆ Here's an exclusive look at the pitch deck former VMWare executives used to land $25 million for their 'mobile cloud' startup
▼ + stars: | 2024-02-21 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +1 min

Highway 9 Networks, a cloud computing startup, has secured $25 million in round led by Mayfield. The startup offers a mobile cloud product that allows companies to deploy a private mobile network. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThree years ago, Allwyn Sequeira and his Highway 9 Networks cofounders set out to embark on what the startup calls the mobile cloud. The startup is now coming out of stealth with a $25 million round led by Mayfield, with General Catalyst and Detroit Ventures contributing to the funding.

Persons: Mayfield, —, Allwyn Sequeira, Debashis Basak, Serge Maskalik, Sachin Thakkar Organizations: Service, VMWare, Networks, Mayfield, Catalyst, Detroit Ventures, Business

☆ A top investor in global brands from Airbnb to Snap says we need swift 'guardrails' to get countries on the same page about AI
▼ + stars: | 2024-02-20 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

The CEO of the VC firm General Catalyst told WSJ that international collaboration will be crucial. World leaders should "align on some core protocols" for AI development, he said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"Now there's this tension where no country wants to be left behind. So far, Russia has lagged behind China and the US in AI development.

Persons: Catalyst, —, Hemant Taneja, Taneja —, Taneja, Joe Biden, it's, Vladimir Putin Organizations: Service, Wall, publication's, US Commerce Department, European Locations: France, India, China, Russia

☆ This Monzo cofounder is set to launch a new startup with Index and General Catalyst in talks to invest, sources say
▼ + stars: | 2024-02-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Monzo cofounder Jonas Templestein is in talks to raise funds for a new startup, sources told BI. Top investors such as Index and General Catalyst are among those in discussions to back the startup. AdvertisementA cofounder of British fintech unicorn Monzo is set to raise funds from a smattering of high-profile investors for a new venture, Business Insider understands. Now, he's primed to raise around $5-6 million at a $50 million valuation cap for a new startup, two sources said. This story is available exclusively to Business Insider subscribers.

Persons: Jonas Templestein, Catalyst, — Organizations: Service, Business Locations: Monzo

☆ HiBob, a $2.7-billion HR unicorn, is acquiring Tiger Global-backed payroll startup Pento
▼ + stars: | 2024-02-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Read previewHiBob, a London headquartered HR unicorn, is acquiring UK payroll startup Pento. The company is valued at $2.7 billion, has raised $574 million in funding, and is acquiring Pento to expand its payroll offering. The acquisition came about after seeing the fragmented payroll market in the UK with HiBob opting to go one step further than integration, CEO Ronni Zehavi told Business Insider. AdvertisementLondon-based Pento has raised $54 million in VC funding, including from General Catalyst and Tiger Global. Around 35 Pento staff will join HiBob as part of the deal, which is subject to closing conditions.

Persons: —, Ronni Zehavi, Zehavi, HiBob Organizations: Service, Business, General, Bessemer Venture Partners, General Catalyst, Tiger Global, Dealroom, HiBob Locations: London, Israel

☆ Harvard taps ex-Merck CEO Ken Frazier to join embattled board
▼ + stars: | 2024-02-05 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Former Merck CEO Ken Frazier and KKR co-CEO Joseph Bae are joining Harvard University’s top board as the Ivy League school seeks to turn the page on a tumultuous period. Harvard announced the changes on Sunday evening, saying Frazier will start Wednesday to fill the open seat on the Harvard Corporation, the powerful yet secretive board under fire its handling of the recent controversies. Frazier, who graduated Harvard Law School in 1978, served as CEO of Merck and sat on the board of ExxonMobil, is widely respected in the business community. In 2017, Frazier quit former President Donald Trump’s manufacturing council in response to Trump’s initial failure to condemn white supremacists. Bae graduated from Harvard in 1994 and today he’s one of the most powerful private equity executives in the world.

Persons: Ken Frazier, Joseph Bae, Frazier, Bae, Paul Finnegan, Claudine Gay, ”, Alan Garber, Penny Pritzker, ” Harvard, Pritzker, megadonor, Gay, Donald Trump’s, Catalyst, Garber Organizations: New, New York CNN, Merck, KKR, Harvard University’s, Ivy League, Harvard, Harvard Corporation, Corporation, Democratic Party, Harvard Law School, ExxonMobil Locations: New York, Asia

☆ The IRL social startup 222 is moving from LA to NYC as it launches an app and raises $2.5 million
▼ + stars: | 2024-02-05 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +6 min

For the founders behind the IRL social startup 222, it's all about the "magic of the backyard." The 222 team then organizes a multi-stage meetup, which includes a restaurant as well as another venue like a museum or a bar. At its events, 222 wants attendees to feel comfortable and leave "judgment at the door," said Hashemi, 222 's COO. "A lot more people are coming around to this idea of in real-life social," Hashemi said. Kazemian, Hashemi, and Roshannai, meanwhile, want to help swing the pendulum back to IRL — back to real relationships.

Persons: Keyan Kazemian, Danial Hashemi, Arman Roshannai, — Kazemian, Hashemi, Roshannai, Kazemian, —, Catalyst, Arash Ferdowsi, Cory, Catalyst's Niko Bonatsos, Sydney Bradley Organizations: Business, Scrum Ventures, Dropbox, University of Southern, YC, Tech, IRL Locations: Los Angeles, California, New York, New York City, University of Southern California, SoHo , New York

☆ Bilt Rewards is the first neighborhood loyalty platform, says General Catalyst chairman Ken Chenault
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBilt Rewards is the first neighborhood loyalty platform, says General Catalyst chairman Ken ChenaultAnkur Jain, Bilt Rewards founder and CEO, and Ken Chenault, General Catalyst chairman and managing director and Bilt Rewards board chairman, join 'Squawk Box' to discuss the company's rewards program, how Bilt partners with real estate owners and allows its users to earn points when paying their rent, and more.

Persons: Ken Chenault Ankur, Bilt, Ken Chenault Organizations: Catalyst

☆ One health-insurance startup is bucking the industrywide funding slowdown
▼ + stars: | 2024-01-04 | by ( ) www.businessinsider.com time to read: +3 min

Read previewThe insurance startup Devoted Health managed to raise another $175 million last week despite the venture-capital downturn. Devoted has raised more than $2 billion in funding to date. Funding raised by Devoted and other health-insurance startups isn't included in these figures. New funding follows rapid growthDevoted said the Series E funding round came after a year of fast growth. The round was led by a syndicate that included The Space Between, Highbury Holdings, GIC, Stardust Equity, Maverick Ventures, and Fearless Ventures, Devoted said.

Persons: —, Bill Evans, megadeals, Oscar, Andreessen Horowitz, Catalyst Organizations: Service, Business, Rock Health Capital, Rock Health, Bright, Clover Health, Oscar Health, Highbury Holdings, Stardust Equity, Maverick Ventures, Fearless Ventures, Socium Ventures, Emerson, Prime Capital Partners, GreatPoint Ventures Locations: Waltham , Massachusetts

☆ A $6 billion healthcare-AI startup backed by General Catalyst cut staff after pledging to hire 'aggressively'
▼ + stars: | 2023-12-19 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Read previewGeneral Catalyst-backed startups Commure and Athelas merged in October to create a $6 billion healthcare-AI startup. Shortly after the deal closed, though, the newly formed Commure cut staff, according to a leaked email obtained by Business Insider. The layoffs came just a month after Tandon told Business Insider that Commure planned to hire "aggressively" following the merger. Tandon told Business Insider in October that Commure's total headcount following the merger would be about 800. Both Commure and Athelas each had at least five years of cash runway before the merger, Tandon told Business Insider in October.

Persons: —, Tanay Tandon, Tandon, Commure Organizations: Service, Athelas, Business, Bloomberg News

☆ Here's an exclusive look at the pitch deck that Martian, an AI startup that helps developers find the best LLM, used to raise $9 million from investors like NEA and Prosus Ventures
▼ + stars: | 2023-12-05 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +3 min

They set up a 30-minute meeting because of their shared interest in advancing AI technology and research. Now, the company has come out the gate with $9 million in seed funding in a round co-led by NEA and Prosus Ventures. "You often need an entire AI team to go and test and evaluate these models," Ginsburg said. Going forward, Ginsberg and Upadhyay hope to attract more enterprise customers and continue their research into AI models to make routing even more efficient and "build more awesome tooling." See the eight-slide deck that convinced investors at NEA, Prosus Ventures, Carya Venture Partners, and General Catalyst to invest in Martian's $9 million seed round:

Persons: Etan Ginsberg, Shriyash Upadhyay, cofounders, Upadhyay, Catalyst, Claude —, Ginsburg, Ginsberg weren't, Ginsberg Organizations: University of Pennsylvania, Business, NEA, Prosus Ventures, Carya Venture Partners, Catalyst

☆ Alphabet wants to invest in British fintech bank Monzo before it goes public
▼ + stars: | 2023-11-22 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Monzo, a British fintech bank, is in talks with Alphabet's private investment arm Capital G to raise what is primed to be its last funding round before a public listing. The bank touts around 8.5 million customers in the UK and is best known for its bright coral pink bank cards. Fintech funding in Europe dropped 70% to $5 billion from $17.1 billion in the first half of 2023, compared with 2022, according to Finch Capital. The prospective funding round is set to be the fintech's last private raise before a mooted public debut that would likely take place in late 2024 or 2025. The British bank reported £116.3 million in losses last year despite more than doubling its revenue.

Persons: Monzo, Catalyst, Monzo's, Cash, Conor Walsh, Anil Organizations: Business, Sky News, Abu Dhabi Growth Fund, Silicon, VC, fintech, Finch, London, Starling Bank Locations: British, London, Abu Dhabi, New York, Europe, Monzo, Starling

☆ Open source needs to be a key pillar of how AI gets developed, says General Catalyst CEO
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOpen source needs to be a key pillar of how AI gets developed, says General Catalyst CEOHemant Taneja, General Catalyst CEO, joins 'Squawk on the Street' to discuss the caution vs. commercialization debate taking place with AI, how pivotal this moment is for artificial intelligence, and whether the weekend's events have helped the industry.

Persons: Hemant Taneja Organizations: Catalyst

Mistral, a tiny AI startup that aims to be Europe's answer to OpenAI, is in discussions to raise a major round of funding that could push its valuation above $2 billion. Its cofounders are in talks with venture capital firm Andreessen Horowitz to raise further funds, seven sources familiar with proceedings told Insider. Mistral is set to raise around $400 million at a valuation of at least $2 billion, which could rise to as high as $2.5 billion, three sources said. The deal is not yet finalized and the round size, valuation figures, and participants could still change. Andreessen Horowitz, General Catalyst, Mistral, Abstract Ventures, and Bezos Expeditions did not respond to Insider's request for comment.

Persons: Andreessen Horowitz, Catalyst, Arthur Mensch, Guillaume Lample, Timothée Lacroix, Jeff Bezos, Xavier Niel Organizations: Mistral, Meta, DeepMind, Bezos Expeditions, Amazon, Catalyst, Ventures, Lightspeed Venture Partners Locations: Paris

☆ Target CEO to meet with Biden as the company — and White House — try to figure out U.S. consumers
▼ + stars: | 2023-10-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Target CEO Brian Cornell will meet with President Joe Biden on Thursday afternoon as the retailer — and the White House — try to figure out U.S. consumers. Cornell is one of about a half dozen business leaders across industries who will offer up their point of view on the economy and the labor market at the White House. Through a spokesperson, Target confirmed Cornell's attendance at the meeting, but deferred to the White House for more details about the content of the meeting. Biden's meeting with the business leaders comes as the White House gears up for the next presidential election — a time when his track record on the economy and inflation will be under the microscope. Cornell has met with the White House before.

Persons: Brian Cornell, Joe Biden, Biden, Brendan Bechtel, Calvin Butler, Kenneth Chenault, Thasunda Brown Duckett, Arvind Krishna, Judy Marks, —, Cornell, Doug McMillon, Donald Trump Organizations: White, Cornell, Bechtel Group, Catalyst, IBM, Otis Worldwide, Target, White House, New, Pride Locations: New York City, San Francisco

☆ Biden to meet with Target, IBM and other CEOs
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden participates in a roundtable with Jewish community leaders regarding the Palestine-Israel conflict, in the Eisenhower Executive Office Building on the White House campus in Washington, U.S. October 11, 2023. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Oct 12 (Reuters) - President Joe Biden will meet with the chief executives of several large companies on Thursday to get their perspective on the U.S. economy, a White House official said. The meeting at the White House includes the CEOs of Target(TGT.N), IBM(IBM.N) and Exelon(EXC.O), Bechtel Group, General Catalyst, TIAA and Otis Worldwide, representing the construction, manufacturing, clean energy, finance and retail industries. Biden is seeking the executives' perspectives on the economy and on his administration's efforts to provide domestic investment, the White House official said. He pushed Congress to pass sweeping legislation to invest in infrastructure, target student loan debt and has been a vocal supporter of workers' rights.

Persons: Joe Biden, Jonathan Ernst, Catalyst, Biden, Steve Holland, Susan Heavey, Doina Organizations: White, REUTERS, Rights, White House, Target, IBM, Bechtel Group, Otis Worldwide, Democratic, Wednesday, Thomson Locations: Palestine, Israel, Washington , U.S, U.S

☆ Israel's tech hub is a crucial part of its economy. Now, startups could face tougher funding rounds amid the war, experts say.
▼ + stars: | 2023-10-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Getting overseas funding could become difficult for Israel's tech industry amid the war, experts told Reuters. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementIsrael's tech startups have already been facing a tough year attracting funding amid the implosion of a major lender for start-ups, global recession fears, and rising borrowing rates. Investment in Israel's tech startups has already been falling for seven straight quarters even before the war started, according to a report by the think tank Startup Nation Policy Institute, released on September 30. AdvertisementAdvertisementTech insiders also express optimism for the industry, citing Israel's reputation as an established tech hub.

Persons: —, Jon Medved, Avi Hasson, Catalyst, Hasson Organizations: Reuters, Tech, Silicon Valley Bank, Service, Nation Central, Investment, Nation Policy Institute, Israel ., Insight Partners Locations: Israel, Silicon, Tel Aviv, Europe, Israel . New York

☆ 2 General Catalyst health-data startups are joining forces to create a $6 billion AI colossus and lay the groundwork for an IPO
▼ + stars: | 2023-10-09 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

The General Catalyst-backed startups Commure and Athelas are merging in a deal to bring more artificial-intelligence tech to hospitals and health systems. The new company, which is keeping the name Commure, plans to stack Athelas' software on top of Commure's data platform for health systems. General Catalyst is investing $70 million in the new firm at a $6 billion valuation, and Tanay Tandon, the founder and CEO of Athelas, will lead the combined company. Commure will consider companies making those tools in a range of categories, including credentialing, contracting, and patient engagement, he said. The company has about 100 open positions, Tandon said, and expects to hire hundreds more people in 2024.

Persons: Tanay Tandon, Hemant Taneja, Tandon, Commure, Catalyst, Athelas Organizations: Catalyst, General

☆ Our crisis of loneliness, the new bet investors are going after
▼ + stars: | 2023-10-04 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +13 min

Not long after founding the startup, Gaon shared his vision with famed venture capitalist Marc Andreessen. It was notable to Gaon at the time that Andreessen — "one of those investors who's known for seeing where the market is going" — appeared to have pinpointed loneliness as its own market. That moved her parents, Cindy and Anne Jordan, who had sold their first healthtech company years before, to found the Arizona company Pyx Health. "The loneliness crisis is bigger, and more urgent, than anything I've worked on before," Nyborg wrote in a blog post. Inspired debuted a thesis in 2020 that identified loneliness as a key focus for the firm to invest in.

Persons: Benjamin Gaon, Boaz Gaon, Benny, Gaon, Marc Andreessen, Andreessen, Wisdo, —, Anne Wojcicki, Marius Nacht, Andreessen Horowitz, Vivek Murthy, Betsy Hoover, Bumble, Rylie Sarabia, Cindy, Anne Jordan, policyholders, Dawn Owens, it's, Owens, Julie Rice, Elizabeth Cutler, Rice, Peoplehood, Phil Levin, Levin, Culdesac, Renate Nyborg, I've, Nyborg, Hugo Amsellem, He's, Ava, Catalyst, Nate Tepper, Tepper, Adam Besvinick, Frances Haugen, Hoover, Alexa von Tobel, von Tobel, David Spinks Organizations: Pyx, Labs, verve, Investors, Pyx Health, TT Capital Partners, New, Khosla Ventures, Sequoia Capita, AI Fund, NEA, AIs, Looking Glass, Anonymous, Glass, Facebook, Bloomberg Locations: Arizona, Minneapolis, New York, Ava, France, Peoplehood, Hopscotch

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