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Horizontal Security for Generative AI & Micro-Curation Platform Transforming Learning

In partnership with BILL: Take a demo, get an Apple Watch

November 14, 2023

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Welcome to the 37th edition of our newsletter, where we feature the most exciting early-stage startups, job openings, and valuable resources, all in a single newsletter.

Let's dive in...

In partnership with BILL

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TL;DR: Horizontal security for all generative AI

What? Liminal is the technology security layer for organizations looking to leverage generative AI. With Liminal, CISOs have complete control over the data submitted to large language models (LLMs). Whether that be through direct interactions, via AI-enabled applications built in-house, or through the consumption of off-the-shelf software with gen AI capabilities, Liminal ensures organizations are protected from regulatory compliance risk, data security risk, and reputational risk.

Why? Deploying generative AI comes with tangible risks1, and organizations must establish a comprehensive security posture to safeguard critical data. A multi-layered approach that integrates policy, process, and technology is paramount to fostering a secure environment.

Organizations that do not consistently manage AI risks are exponentially inclined to experience adverse outcomes, such as project failures and breaches. Inaccurate, unethical or unintended AI outcomes, process errors and interference from malicious actors can result in security failures, financial and reputational loss or liability, and social harm.

Founded: 2023

Location: Denver, US

Industries: B2B, Security

Stage: Pre-seed

Team: Steven Walchek (CEO & Founder) - ex-EVP, Chief Innovation Officer @ FIS; Keri Rich (CPO) - ex-VP, Product Management @ Shutterstock; Aaron Bach (CTO) - ex-CTO @ Otis, Head of Engineering – Innovation @ FIS

Investors: N/A

TL;DR: Micro-curation platform transforming the learning economy

What? Melon was created to help digitally-native young professionals upskill. It serves as a tool for organizing online learning resources (like saving a TikTok tutorial that would've been lost to the scroll or an episode of a podcast you listened to years ago).

Using machine learning, Melon employs a social media approach to aggregate user-curated learning materials from various sources. This enables learners to discover content recommended by friends and experts in their field. The platform's technology periodically resurfaces this content, making it easier for users to revisit and absorb key learnings.

Why? The rationale behind Melon's creation lies in the evolving landscape of learning. Gen Z's approach to learning differs from previous generations due to their status as the first fully internet-native cohort. They are consistently connected to the online world, dedicating a significant portion of their waking hours to digital engagement. Online platforms and applications form a substantial aspect of their social lives. Gen Z utilizes platforms like TikTok, Twitter/X, Instagram, and YouTube not only for entertainment but also as learning tools. For this generation, the learning economy extends beyond traditional academic resources.

Founded: 2021

Location: London, UK

Industries: EdTech, Social

Stage: Pre-seed

Team: Sanne Fouquet (CEO & Founder) - ex-Deployment Strategist @ Palantir Technologies; Feliks Ghazaryan (CTO) - ex-Co-founder @ umath

Investors: 3T Invest, Antler, Inventure, Peak (Amsterdam)

Which early-stage startup should we feature next? Send us a reply. (Criteria: Pre-Seed, Seed, and Series A startups)

Venture deals

  • Octarine Bio, a Copenhagen, Denmark-based synthetic biology platform company, raised €4.3 million in funding, bringing its total funding to €12 million. Óskare Capital, Unconventional Ventures, and The Footprint Firm co-led the round, and were joined by dsm-firmenich Venturing.

  • Otto, a Los Angeles, Calif.-based financial technology company, raised $4.5 million in funding. Kindred Ventures led the round, and was joined by investors including 645 Ventures, Canaan Partners, and TwleveBelow.

  • Aikido Security, a Ghent, Belgium-based developer of a software security app for SaaS companies, raised €5 million in seed funding. Notion Capital and Connect Ventures co-led the round, and were joined by Inovia Capital’s Precede Fund I.

  • Flip AI, a San Francisco, Calif.-based provider of an observability intelligence platform, raised $6.5 million in Seed funding. Factory led the round, and was joined by investors including Morgan Stanley Next Level Fund and GTM Capital.

  • Bloom, a London, UK-based provider of a mobile-first coaching experience offering accelerated professional growth to people at work, raised $10 million in Seed funding. Investors included Octopus Ventures and MMC Ventures.

  • Keychain, a NYC-based manufacturing platform for the packaged goods industry, raised $18 million in Seed funding. Lightspeed Venture Partners led the round, and was joined by investors including BoxGroup, Afore Capital, and SV Angel.

  • Arch, a NYC-based provider of a private investment management platform, raised $20 million in Series A funding, bringing its total funding to over $25 million. Menlo Ventures led the round, and was joined by investors including Craft Ventures, Quiet Capital, Carta, Citi Ventures, GPS Investment Partners, and Focus Financial Partners.

  • Imprint, a NYC-based provider of co-branded credit cards for brands, raised $75 million in Series B funding. Ribbit Capital led the round, and was joined by investors including Thrive Capital, Kleiner Perkins, and Moore Specialty Credit.

  • Databricks, a San Francisco, Calif.-based data and AI company, raised an undisclosed amount in Series I funding, placing the company at a $43 billion post-money valuation. Investors included Amazon Web Services (AWS), CapitalG, Microsoft, AT&T Ventures, Qatar Investment Authority (QIA), Sanabil Investments, Andreessen Horowitz, Baillie Gifford, Capital One Ventures, ClearBridge Investments, Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, Gaingels, Ghisallo Capital Management, GIC, NVIDIA, Octahedron Capital, Ontario Teachers’ Pension Plan, funds and accounts advised by T. Rowe Price Associates, Inc. and Tiger Global.

Other

  • Craft Ventures, a San Francisco, Calif.-based early-stage and growth firm backing SaaS businesses, raised $1.32 billion for two funds: Craft Ventures IV ($712m), the fourth early-stage fund; and Craft Ventures Growth II ($608m), the second growth fund.

  • The Wall Street Journal reported that Khosla Ventures is in the final stages of raising $3 billion for its latest set of venture funds: a $500 million seed fund, a $1.6 billion venture fund for slightly older startups, and a $900 million growth fund for mature startups. This fundraise is anticipated to be one of the largest completed by a venture firm this year. Khosla Ventures last raised $1.85 billion three years ago.

  • Launched in 2022, Bucharest-based Underline Ventures has finalized the raise of its first fund, reaching a total of $20 million. The fund is committed to backing 20+ early-stage startups led by Eastern European founders, with an average investment ticket of $500,000. So far, Underline Ventures has made 7 investments: Nestor, Goodlegal, Videowise, Veridion, Turneo, Sera, plus an undisclosed deal.

Caught our eye

  • OpenAI recruiters are trying to lure Google AI employees with $10 million pay packets. OpenAI is exploring options for an employee share sale that values the company at $86 billion, Bloomberg reported last month. The company closed a share sale in April that saw it valued between $27 billion and $29 billion, per TechCrunch. If its recruiters are successful in enticing top Google AI researchers, they stand to gain $5-10 million from the share sale, according to The Information.

  • A witness in the Google antitrust trial disclosed that Google allocates a 36% cut of search ad revenue from Safari to Apple. In 2021, Google spent $26.3 billion to remain the default search engine on Safari and other browsers like Firefox. $18 billion of this sum was directed to Apple, which had previously been undisclosed.

  • China is eyeing $137 billion of new funding to boost housing market“China plans to provide at least 1 trillion yuan ($137 billion) of low-cost financing to the nation’s urban village renovation and affordable housing programs in its latest effort to shore up the struggling property market. The People's Bank of China (PBOC) will inject cheap funds in phases through policy banks, ultimately benefiting households for housing purchases.” — Bloomberg

  • Amazon is getting rid of its gaming content channel amid larger games layoffs“The company is cutting ‘just over’ 180 jobs in its games division and is ‘refocusing’ the work it does with the free games it offers to Amazon Prime subscribers.” — The Verge

  • Elon Musk’s Neuralink wants to get inside your head“Neuralink is seeking a volunteer for its first clinical trial. The person would have part of their skull removed so a robot can put wires and electrodes in their brain.” — Bloomberg

  • Disney launches NFT platform with Dapper Labs“Disney will tokenize its iconic cartoon characters from the past century onto its NFT marketplace, dubbed Disney Pinnacle. The platform will also include icons from Pixar as well as heroes and villains from the Star Wars galaxy, uniquely styled as collectible and tradable digital pins.” — Cointelegraph

Job opportunities

That's a wrap for this week.

Thank you for sticking with us until the finish.

We're open to hearing your suggestions for future newsletter topics, so feel free to share what you're grappling with or what you'd like to see from us in upcoming editions.

Have a great week.

Kenneth ✌️

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