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☆ Reducto's AI tool turns PDFs and spreadsheets into data LLMs can use. We got an exclusive look at the pitch deck that landed the startup $8.4 million in seed funding.
▼ + stars: | 2024-10-02 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +3 min

Reducto raised $8.4 million in seed funding to develop AI for reading complex documents. AdvertisementLarge language models struggle to parse data in PDFs and spreadsheets, and one startup just raised a supersized seed funding round to build tech that can read these documents the way humans do. Reducto, which was founded in 2023 and a member of Y Combinator's winter 2024 batch, is announcing it raised $8.4 million in a seed funding round led by First Round Capital. One, Humata AI, raised $3.5 million from Google's Gradient Ventures a year ago, while OpenAI's ChatGPT Store showcases multiple AI PDF developers. AdvertisementCheck out the 13-slide pitch deck Reducto used to raise $8.4 million in seed funding.

Persons: Reducto, —, Y, Liquid2, Arash Ferdowsi, Andrew Ofstad, Kulveer Taggar, Zeus, JJ Fliegelman, Richard Aberman, Ralph Goottee, Tracy Young, Adit Abraham Organizations: Service, First Round, Big Tech

☆ Decagon raises $35 million from Accel and A16z to build AI customer support agents. Here's an exclusive look at the pitch deck it used.
▼ + stars: | 2024-06-18 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +1 min

AI startup Decagon builds AI agents to automate customer support for enterprise customers. Founded in July 2023, Decagon uses generative AI to automate customer support for enterprise customers. The company has emerged from stealth and raised $35 million in funding for its seed and Series A rounds. Accel led the company's $30 million Series A, with participation from Andreessen Horowitz, A*, and Elad Gil. A16z led the company's $5 million seed round.

Persons: Andreessen Horowitz, —, Jesse Zhang, Ashwin Sreenivas, Zhang, Elad Gil, A16z, Decagon, Aaron Levie, Howie Liu Organizations: Accel, Service, Decagon, Business

☆ How former Slack and Twitter executive April Underwood used angel investing to create a career in venture capital
▼ + stars: | 2024-05-06 | by ( Leena Rao | ) www.businessinsider.com time to read: +5 min

That entrepreneurial, technology-focused spirit has driven Underwood to an illustrious career at some of the industry's biggest companies, including Google, X, Slack, and Intel. As she built products at these tech giants, Underwood quietly invested in over 50 startups, including the genetics-testing unicorn Color and the cap-table giant Carta. Underwood began investing while at X, then called Twitter, where she was the company's director of product. Shortly after, #Angels was born, the investment collective cofounded by Underwood, Verrilli, Jana Messerschmidt, Chloe Sladden, Katie Stanton, and Vijaya Gadde. Since 2015, the group has backed over 100 startups, including Forward, Clubhouse, Instacart, Material Security, and Airtable.

Persons: Underwood, she'd, Slack, Jessica Verrilli, who'd, Stewart Butterfield, Cal Henderson, Ev Williams, Jack Dorsey, Verrilli, Jana Messerschmidt, Chloe Sladden, Katie Stanton, Vijaya Gadde, you've, I've, they've Organizations: Amarillo College, Business, Google, Intel, GV, Cue, Twitter, Health, Security, Slack Locations: Amarillo , Texas, Amarillo, Termina, San Francisco

☆ Amazon-backed Anthropic launches iPhone app and business tier to compete with OpenAI's ChatGPT
▼ + stars: | 2024-05-01 | by ( Hayden Field | ) www.cnbc.com time to read: +5 min

The generative artificial intelligence startup is the company behind Claude, one of the chatbots that, like OpenAI's ChatGPT and Google 's Gemini, has exploded in popularity in the past year. Anthropic's first iOS app is free for users across all plans and also available starting Wednesday. In a release Wednesday, Anthropic confirmed that other current clients using Claude include Pfizer, Asana, Zoom, Perplexity AI, Bridgewater Associates and more currently. Now, it's one of the hottest AI startups, with a product that directly competes with ChatGPT in both the enterprise and consumer worlds. Anthropic's stance on the military use of Claude is similar to OpenAI's updated policy.

Persons: Anthropic's, Claude, Amodei, Anthropic, Daniela Amodei, it's, Opus, OpenAI's, Asana, It's, Moby Dick, Harry Potter, OpenAI Organizations: CNBC, Google, Team, Pfizer, Asana, Bridgewater Associates, ChatGPT

☆ I'm a recent college grad who landed my dream job, but it was a remote position. I quit because I got lonely at home.
▼ + stars: | 2024-04-20 | by ( Olivia Peluso | ) www.businessinsider.com time to read: +5 min

While remote work is glorified for its flexibility, I found myself lonely and stuck inside. I quit my dream job to get out of the house more and integrate into my community. AdvertisementIn the spring of 2020, my life felt like it was squeezed between the palms of an arm wrestling match. As I delved into an arduous job search, remote work began to seem like an attractive option — albeit my only one. AdvertisementWhen I landed my dream job at a high-profile magazine, I thought it was perfect.

Persons: —, Slack, I've, I'd Organizations: Service, Microsoft, Google, Social Locations: San Francisco, cafés

☆ Google-backed Anthropic debuts its most powerful chatbot yet, as generative AI battle heats up
▼ + stars: | 2024-03-04 | by ( Hayden Field | ) www.cnbc.com time to read: +5 min

This time last year, Anthropic was seen as a promising generative AI startup founded by ex-OpenAI research executives. "In our quest to have a highly harmless model, Claude 2 would sometimes over-refuse," Amodei told CNBC. Multimodality, or adding options like photo and video capabilities to generative AI, whether uploading them yourself or creating them using an AI model, has quickly become one of the industry's hottest use cases. But multimodality, and increasingly complex AI models, also lead to more potential risks. "Of course no model is perfect, and I think that's a very important thing to say upfront," Amodei told CNBC.

Persons: Anthropic, Claude, Opus, OpenAI's, Asana, It's, it's, Daniela Amodei, Amodei, Moby Dick, Harry Potter, Brad Lightcap, Anthropic's Claude, We've Organizations: Monday, Haiku, Google, ChatGPT, CNBC

☆ It seems some tech leaders are coming back to San Francisco
▼ + stars: | 2024-02-19 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Some tech leaders are returning to San Francisco, The Wall Street Journal reported. San Francisco's commercial real estate market is also getting a boost from the AI boom. AdvertisementIt seems like San Francisco is luring some tech bosses back after a pandemic-induced exodus. Now, he plans to spend one week a month in San Francisco and is renovating a house in the city, The Journal reported. Meanwhile, San Francisco has grappled with a homelessness problem and shifts in crime patterns.

Persons: —, San, Keith Rabois, cofounders Henrique Dubugras, Pedro Franceschi, Howie Liu, Rabois, Elon Musk, Sam Altman Organizations: Street Journal, Service, The, Meta, PayPal, California Globe Locations: San Francisco, Miami

☆ Founder Collective has quietly built a seed-investing powerhouse that just raised a $95 million new fund. Its secret sauce: staying small.
▼ + stars: | 2023-11-08 | by ( Melia Russell | ) www.businessinsider.com time to read: +7 min

The firm has raised $95 million for its fifth and largest fund, Founder Collective tells Insider exclusively. While it's not the splashiest shop, those in the know know Founder Collective has quietly built one of the most successful venture-capital franchises on the East Coast. Founder CollectiveFounded in 2009, Founder Collective started as a bloc of founders and investors pooling their money to invest in startups. Founder Collective has always been ruthlessly focused on the seed stage, where investors take the biggest risk in pursuit of the highest returns. "We have been fastidious and we've screamed it to anyone who will listen: capital efficiency, capital efficiency, capital efficiency," Frankel said.

Persons: Eric Paley, Collective's, it's, Beezer Clarkson, Sapphire, Clarkson, Paley, David Frankel, Frankel, Amanda Herson, Herson, we've Organizations: Sapphire Partners, Cendana, Foundry Group, Forbes, Felicis Ventures Locations: Cambridge , Massachusetts, East, Coupang, Susa

☆ Cybersecurity startup Legit Security just raised $40 million in a Series B round led by CRV with this 12-slide pitch deck
▼ + stars: | 2023-09-20 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Cybersecurity startup Legit Security has raised $40 million in a round led by Airtable and DoorDash-backer CRV. The Palo Alto-based company has developed a platform that enables companies to spot vulnerabilities in their software supply chain. The startup provides companies with visibility over the delivery of software applications from initial code onwards. The $40 million Series B was led by CRV with participation from existing investors Cyberstarts, Bessemer Venture Partners, and TCV. Legit said developers were increasingly using AI-generated code but that they also introduced a "rapidly expanding class of new security threats."

Persons: Airtable, CRV, Kraft Heinz, Roni Fuchs, " Fuchs, Fuchs Organizations: Google, New York Stock Exchange, Fortune, CRV, Bessemer Venture Partners

☆ I built my own app without knowing a single line of code. It was surprising how fast I got everything to work using AI and other tools.
▼ + stars: | 2023-08-17 | by ( Ryan S. Gladwin | ) www.businessinsider.com time to read: +5 min

James Brooks is a social media marketer who turned to AI and no-code apps to create extra revenue. He uses the AI tool Magai to help whenever he gets stuck using no-code tools. I used no-code tools as the foundation to my product and utilized AI to help when I got stuck. I used AI to help meThingy Bridge is very database heavy so I used AirTable , a low‒code database platform, and Make, which helps connect services. If you have used AI to build a product or generate revenue and would like to share your story, email Jenna Gyimesi at jgyimesi@insider.com.

Persons: James Brooks, Taco, I've, influencers, what's, —, Claude, Magai, that's, we've, JournoMofo, Twitter —, you've, isn't, it's, Jenna Gyimesi Organizations: KFC, Subway, Taco Bell, Brands, Twitter Locations: AirTable

☆ Welcome to the final phase of software eating the world. SaaS companies beware, you're on the menu this time.
▼ + stars: | 2023-05-22 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +7 min

This could disrupt the way software is created, distributed, and used, VCs and startup founders say. This outcome would flip the traditional software industry on its head, calling into question the value of SaaS companies in a world where everyday people can build software themselves. "This is the final chapter of software eating the world, where a bunch of people can create enterprise software within the enterprise." A 'healthy pressure' for traditional SaaS providersTo be sure, the death of the traditional software company still seems a long way off. However, even skeptics admit that the threat of generative AI to traditional SaaS will push established software companies to prove their worth.

☆ 9 tech predictions for 2023 from seed investor in Uber, Pinterest, and other top companies
▼ + stars: | 2023-01-03 | by ( Scott Belsky | ) www.businessinsider.com time to read: +16 min

2022 was a pivotal year for:Collaborative web apps disrupting every function of the enterprise. Internet browsers will shift from generalized to specializedAs web apps, communal browsing, and decentralized technology continue to grow, browsers have become too generalized and antiquated for the future of web apps. Web apps offer virality and infinite possibilities for product-led growth, and are finally powerful enough for sophisticated apps like Photoshop. Browsers will be reimagined for collaboration and higher performance web apps — like Arc from The Browser Company. Content creators will own their audience and some will become "platform-less"Content creators with mass audiences are seeking novel ways to own the relationship.

☆ 9 tech companies that have ditched San Francisco offices in 2022 are a warning sign for cities to rethink their reliance on big firms
▼ + stars: | 2022-12-28 | by ( Robert Davis | ) www.businessinsider.com time to read: +6 min

San Francisco should be a cautionary tale for cities that rely on tech firms to fill office space. At least nine companies have exited office space in the city, . Salesforce CEO Marc Benioff told Bloomberg that San Francisco needed "more diversity" in its economic and tax base, as well as more residential homes and cultural attractions downtown. Meta is planning to leave some of its office space in San Francisco. PayPal left its office in San Francisco this summer.

☆ 'The music stopped': 6 founders tell how they survived this year's bursting VC funding bubble, customers unwilling to spend, and a graveyard of fallen startup peers
▼ + stars: | 2022-12-27 | by ( April Joyner | ) www.businessinsider.com time to read: +11 min

This year's economic caution marked a huge contrast to 2021's exuberance and record VC funding. Insider spoke with six founders about how they've handled the abrupt switch from market exuberance to economic caution. But at the same time, they said, they've sought to pounce on new opportunities created by the economic downturn. ElektraShifting landscapes, changing prioritiesAfter a year of record venture capital funding, the abrupt shift in investor sentiment hit hard in 2022, founders told Insider. Artificial intelligence startups are the latest beneficiary of VC hype, buoyed by breakthrough software tools such as DALL-E and ChatGPT.

☆ Taylor Swift used my company's casket for her 'Anti-Hero' music video. We saw a huge spike in traffic and thank her profusely.
▼ + stars: | 2022-11-03 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +7 min

Joshua Siegel cofounded Titan Casket, a direct-to-consumer casket seller. It sold a casket to a production company, which Taylor Swift used in her new video for "Anti-Hero." When Scott described the industry structure to me, I immediately saw the opportunity to create a direct-to-consumer business selling caskets. Liz and Scott ran the business full-time, and we brought on an intern from the University of North Carolina for the summer of 2020. Because funeral caskets don't constitute a highly competitive space, we could book Google Ads without much competition.

☆ 14 cloud companies that could be acquired, as PE giants Thoma Bravo and Sunstone prepare to buy UserTesting for $1.3 billion
▼ + stars: | 2022-10-27 | by ( Stephanie Palazzolo | Paayal Zaveri | ) www.businessinsider.com time to read: +4 min

Adobe's $20 billion bid for Figma reopened conversations about what's ahead for software startups. More recently, UserTesting is set to be acquired by PE firms Thoma Bravo and Sunstone for $1.3 billion. These are 14 private and public software companies that analysts think could be acquisition targets. On October 27, 2022 private equity giants Thoma Bravo and Sunstone partners announced they intend to acquire UserTesting for $1.3 billion. Here are 15 private and public software companies that analysts and experts think are likely acquisition targets.

☆ Against investors' advice, Jason Goldberg launched a Web3 development startup in the middle of the crypto winter. Here's how he raised $3 million anyway.
▼ + stars: | 2022-10-20 | by ( April Joyner | ) www.businessinsider.com time to read: +3 min

Cofounder and CEO Jason Goldberg launched Airstack during the depths of the crypto crash. Jason Goldberg cofounded his Web3 development startup, Airstack, in May, just as crypto markets began to unravel. Airtable has raised $3 million in pre-seed funding from investors including Animal Ventures, Warburg Serres, Polygon, Genblock, Fenbushi, Resolute Ventures, WW Ventures, Tensai Capital, WestWave Ventures, Lecca Ventures, and Martin Crowley's Peoples Syndicate. Airstack's technology essentially creates application programming interfaces, or APIs, for Web3 applications. It improves upon existing infrastructure such as The Graph by allowing developers to access real-time data from several Web3 applications at a time, Goldberg said.

☆ Jeffrey Katzenberg's WndrCo is betting big on cybersecurity tech and consumer VPNs as 'concerns around privacy have exploded'
▼ + stars: | 2022-10-18 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

Jeffrey Katzenberg and his WndrCo partner Sujay Jaswa are betting big on VPNs and other cybersecurity tech. WndrCo has $1.7 billion in net asset value and is looking for companies that can change the world. The company has acquired or invested in VPNs including Super Unlimited, a top app on Apple's App Store. Like everyone else in the global workforce, Jeffrey Katzenberg and Sujay Jaswa, his investing partner at venture firm WndrCo, use Zoom to connect. WndrCo made several other VPN acquisitions, ultimately merging them into a single cybersecurity venture called Aura, in which WndrCo is a significant stakeholder.

☆ 9 top cloud VCs share the trends they're following and how founders can pitch them right now
▼ + stars: | 2022-09-29 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +2 min

After a boom over the last two years, the venture capital market for cloud startups has slowed. Insider spoke to nine cloud VCs across a variety of firms about how to pitch them right now. So, venture capitalists are considering investments at a slower, more measured pace, several VCs told Insider. Insider spoke to nine venture capitalists across different firms who focus on cloud infrastructure, software, and enterprise technology. Here's what 9 top VCs look for in a founding team, what trends they're following right now, and how to pitch them:

☆ The 15 cloud-software companies most likely to be acquired after Adobe's $20 billion Figma deal, according to research analysts and Wall Street experts
▼ + stars: | 2022-09-23 | by ( Stephanie Palazzolo | Paayal Zaveri | ) www.businessinsider.com time to read: +4 min

Adobe's $20 billion bid for Figma reopens conversations about what's ahead for software startups. These are 15 private and public software companies that analysts think could be acquisition targets. The Wall Street deal expert spoke on condition of anonymity because of the sensitivity of the business dealings. Other options to build out these platforms internally are limited due to their high cost and the tough funding market, the Wall Street deal expert told Insider. Here are 15 private and public software companies that analysts and experts think are likely acquisition targets.

☆ Check out the exclusive pitch deck that live-learning startup Hone used to raise $30 million for online career training and upskilling
▼ + stars: | 2022-09-21 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +3 min

Hone landed clients like Aramark and Indeed and raised a $30 million Series B that 3L Capital led. Unlike large, asynchronous online courses like those LinkedIn Learning and Coursera host, live, vetted, and professional teachers lead Hone's courses. Hone said it was ahead of the curve on this trend, offering online trainings since its founding in 2017. The Hone team hopes to use the new funding to expand their course catalog and offer more hybrid and in-person learning opportunities. Check out the 13-slide pitch deck that Hone used to raise its $30 million Series B round:

☆ How security questionnaire startup SecurityPal raised $21 million from investors like Craft Ventures and a GP at Andreessen Horowitz without a pitch deck
▼ + stars: | 2022-09-20 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +3 min

SecurityPal helps companies complete security questionnaires using automation and human analysts. The startup raised a $21 million Series A round from Craft and a16z investors without a pitch deck. Hamal is the founder and CEO of SecurityPal, a security questionnaire startup that recently raised $21 million in Series A funding from Craft Ventures, Andreessen Horowitz general partner Martin Casado, and other angel investors. SecurityPal aids companies in filling out security questionnaires using a combination of automation and human security analysts. Hamal told Insider that the round came together from inbound investor interest and without the use of a pitch deck.

☆ Meet Dylan Field, the 30-year-old college dropout who built Figma, one of Silicon Valley's most beloved companies, and is set to become a billionaire when it sells for $20 billion to Adobe
▼ + stars: | 2022-09-20 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +7 min

Adobe's $20 billion bid to buy Figma makes CEO Dylan Field's stake worth $2 billion. When the design-software startup Figma was just starting out, Dylan Field, its cofounder and CEO, and his colleagues would pitch prospective customers' design teams, but they struggled with one major problem. While customers were excited about Figma's product, they hesitated to switch from existing tools. Now, Adobe's $20 billion bid to buy Figma makes Field's stake in the company worth $2 billion. Field's rise to successEvan Wallace and Dylan Field are the cofounders of Figma.

☆ Meet Dylan Field, the 30-year-old college dropout who built Figma, one of Silicon Valley's most beloved companies, and then will become a billionaire when it sells for $20 billion to Adobe
▼ + stars: | 2022-09-20 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +7 min

When design-software startup Figma had just started out, cofounder and CEO Dylan Field and his colleagues would pitch potential customers' design teams, but they struggled with one major problem. While customers were excited about Figma's product, they hesitated to switch from existing tools. Now, Adobe's $20 billion bid to buy the design software startup makes Field's stake in the company worth $2 billion. Field's rise to successEvan Wallace and Dylan Field are the cofounders of Figma. After taking time off to do a product design internship at news-sharing service Flipboard, he decided not to return to school.

☆ Adobe, Figma Deal Signals New Era in Collaboration, Productivity
▼ + stars: | 2022-09-15 | by ( Steven Rosenbush | Isabelle Bousquette | ) www.wsj.com time to read: +7 min

The purchase of Figma, whose tools are used by designers and developers, is Adobe’s largest-ever acquisition and extends its reach into new areas. The rising popularity of social networks helped fuel interest in an earlier wave of collaboration technology companies, including Jive Software and workplace chat company Yammer, later acquired by Microsoft Corp. in 2012 for $1.2 billion. Startups that employ concepts of collaboration, including digital work-space company Notion, document company Coda and app platform Airtable, took off among software, design and product teams. Adobe is best-known by consumers for software programs—including Adobe Photoshop, Adobe Illustrator and Adobe Acrobat—used for graphic design, video editing and more. The fact that Adobe was willing to pay so much for Figma reflects that belief that its software was fundamentally different, according to Mr. Saper.

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