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Tom Willerer, a seasoned executive with deep roots in online education and venture capital, is set to embark on a new chapter in his career. After serving as the chief product officer at Coursera for the past two years, Willerer will transition into the world of venture capital, joining Venrock, a legendary venture firm founded nearly 50 years ago. This move marks a significant pivot in Willerer’s professional journey, as he seeks to apply his extensive experience and strategic acumen to the next phase of his career. About Venrock Venrock, headquartered in Palo Alto with satellites in New York and Boston, is best known for its healthcare-focused investments. The firm’s success is largely attributed to the visionary leadership of co-founder Bryan Roberts, who not only spearheaded the establ...

Revolutionizing Policing: Y Combinator's Partnership with Elucd Michael Seibel, a partner at Y Combinator, has been instrumental in shaping Elucd, a company focused on enhancing policing through innovative polling methods. Seibel highlights the company's domain expertise and ambition to disrupt traditional consulting by offering cost-effective solutions that provide deeper insights into community safety. Elucd aims to bridge the gap between policing practices and public trust by integrating social justice principles with advanced analytics. Unlike established tools like Spidr Technologies, Elucd's approach combines activism with data-driven strategies to empower police forces, enabling them to perform more effectively and responsibly. The NYPD, as a model force, serves as a testbed for Elu...

Identity Verification Technology Startup Aims to Help Financial Institutions Detect Fraud San Francisco-based SentiLink, a leading identity verification technology startup, has raised $70 million in a Series B funding round led by Craft Ventures. The financing brings the company's total raised to $85 million since its inception in 2017. Felicis Ventures, Andreessen Horowitz (a16z), and NYCA also participated in the funding round. Founders' Background and Inspiration SentiLink was founded in mid-2017 by Naftali Harris and Max Blumenfeld, who met while working as data scientists at Affirm, an installment loan provider. During their tenure at Affirm, they encountered a peculiar fraud case involving 12 individuals with the same name and date of birth but different Social Security numbers. All ...

In the rapidly evolving world of fintech, Banking-as-a-Service (BaaS) platforms have emerged as a game-changer. These platforms partner with banks to provide tailored banking services and experiences to customers across various industries. In this article, we'll delve into the growth of BaaS, its applications in Africa, and the latest development in the sector. The Rise of BaaS Platforms Over the past 18 months, BaaS platforms have gained significant traction globally, with entities such as startups, fintechs, big corporations, and banks partnering to offer customized banking services. In the United States and Europe, fintechs like Unit, Rapyd, and Treasury Prime have achieved remarkable scale due to their established banking systems. However, their counterparts in Africa are attempting to...

A Sustainable E-commerce Aggregator on a Mission to Reduce Carbon Emissions Flora, an e-commerce roll-up startup focused on offering sustainable products and reducing carbon emissions, has emerged from stealth mode with $9 million in seed funding. The investor group backing Flora includes Lux Capital, Correlation Ventures, Climate Capital, and Gokul Rajaram. A Brief History of Flora Flora was founded in 2021 by co-founders and co-CEOs Mithat Ulubay and Ugur Kaya. Prior to starting the company, both Ulubay and Kaya had a background in investment banking at Goldman Sachs, with Ulubay also working as a private equity investor. The duo's experience and expertise have been instrumental in shaping Flora into what it is today. Acquiring and Growing Sustainable Brands Flora operates as an aggregat...

As any fan of Kitchen Nightmares may know, the restaurant business is not for the faint of heart. It's a sector that requires dedication, hard work, and a passion for providing exceptional dining experiences to customers. However, it's also an industry that can be unpredictable, with fluctuating sales, thin profit margins, and intense competition. The Challenges of Restaurant Accounting One of the most significant challenges facing restaurateurs is managing their accounts payable and receivable. Manual processes, paper invoices, and spreadsheets can lead to errors, delays, and lost revenue. Moreover, restaurants often struggle with tracking inventory costs, vendor management, and menu optimization – all critical aspects of running a successful restaurant. Introducing PlateIQ: A Solution fo...

A Leading Social Media Analytics Company Sees Significant Growth Socialbakers, a social media analytics company founded in 2009 and headquartered in Prague, has announced that it has raised $26 million in Series C funding. This significant investment brings the total amount of funds raised by the company to $34 million. Funding Details The round was led by Index Ventures, with participation from previous investor Earlybird Venture Capital. The investment is expected to accelerate Socialbakers' growth plans and further solidify its position in the social media analytics market. Tripling Revenue and Expanding Operations In the past year, Socialbakers has experienced tremendous growth, tripling its revenue and launching its ad analytics platform. The company has also added over 1,000 customer...

The Alarming Trend of Reduced Funding for Black-Founded Startups Black founders in the United States have long struggled to secure venture capital funding, with a recent report from Crunchbase revealing that they raised only 0.48% of all venture dollars allocated last year. This number represents around $661 million out of a staggering $136 billion, marking the lowest figure in recent history. The past two years had seen Black founders securing at least 1% of venture capital funding, but the market cooling has taken its toll on this community. In Q1'23 and Q2'23, Black founders raised 0.74%, while in Q3'23 and Q4'23, they struggled to secure mere 0.13% and 0.20% respectively. This decline in funding is not a new phenomenon; it has been a consistent yearly trend since the murder of George F...

Enterprise Software, Real Estate, and Financial Technology Converge Juniper Square, a four-year-old startup that has been making waves at the intersection of enterprise software, real estate, and financial technology, has announced an additional $25 million in Series B funding to fuel its growth. This latest investment brings Juniper's total funding to date to $33 million. A Leader in Commercial Real Estate Investment Platforms Juniper Square was founded in 2014 by Alex Robinson, Yonas Fisseha, and Adam Ginsburg, who serve as the company's chief executive officer, vice president of engineering, and VP of product, respectively. Juniper has been gaining traction in the commercial real estate investment space, where technology adoption has been slower compared to other industries. A Platform ...

In recent years, biotech venture funding has experienced a significant surge, with corporate investors playing an increasingly prominent role in this trend. Our analysis at Crunchbase reveals that corporate biotech investors have sharply increased their investments in startup rounds they led in 2018, with overall participation in rounds valued at nearly twice year-ago levels. The Rise of Biotech Venture Funding Global biotech venture funding rose significantly last year and has been running at historically high levels for the past few years. According to Crunchbase data, biotech startups globally raised just shy of $29 billion in seed through late rounds from all investors in 2018. This represents a substantial increase from $19 billion in 2017. Corporate Investors Lead the Charge A signif...