Our Venture Capital Partners In AI Investing

Learn about some of the AI, machine learning, and big data investments we’ve made alongside established venture capital firms

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An important factor for Alumni Ventures in putting together our AI Fund portfolio is our network of more than 150 venture capital partners. We are strictly a co-investor, following established lead investors into rounds. That means we don’t negotiate terms or take Board seats, giving us more time to source promising opportunities. It also gives us the latitude to focus on building diverse portfolios while we co-invest with firms that have significant domain experience.

Like Alumni Ventures, an increasing number of established venture firms are making AI a core part of their investment strategy. From 2012 to 2020, VC investments in AI startups jumped from $3 billion to nearly $75 billion. This trend continued in 2021, with a 115% year-over-year increase leading to a record $77.5 billion committed to AI companies.

Below, we spotlight some of the well-known VCs who have been our co-investors in supporting innovative AI, machine learning, and big data companies.

AI Fund Open Through Q1 2022

Our AI Fund will invest in a diversified portfolio of ~20-30 companies applying AI, machine learning, big data, and related technologies. The fund will be invested over ~12-18 months with a large reserve (~20-25%) for follow-ons. Every investor becomes a member of the AI Venture Club, with opportunities to invest in Syndications, learn, and network.

To learn more, click below to review fund materials or connect with a Senior Partner.

Accel is a well known venture investor with over $18 billion in total capital raised. The firm invests across sector, stage, and geography, with notable portfolio companies like Facebook, Slack, Dropbox, and Spotify. Some of Accel’s AI investments include Scale ($7 billion valuation), Ada ($1.2 billion valuation), Snorkel ($1 billion valuation), and SimpliVity (acquired by HPE for $650 million).

AV Co-Investments with Accel

Ampool enables high-speed analytics by allowing companies to seamlessly access data stored across all silos, locally or in the cloud. Alumni Ventures co-invested with Accel in the company’s 2019 seed round. In 2021, Ampool was acquired by HPE.1

Deserve uses machine learning and many nontraditional data points to provide users with credit scores and cards. Alumni Ventures has made multiple co-investments in Deserve with Accel, including a $12 million round in 2017, $17 million Series C in 2018, and a $50 million Series C in 2019.1

Trifacta has developed a cloud data platform designed to improve the efficiency of curating and preparing data for AI/ML applications and beyond. Alumni Ventures co-invested with Accel in the company’s $100 million round announced in 2019. Trifacta was subsequently acquired by Alteryx for $400 million.1

Andreessen Horowitz (a16z) is a stage-agnostic venture capital investor with $28.2 billion in AUM across multiple funds. The firm focuses on forward-thinking tech companies across industries, with investments in AI companies like Samsara ($805 million IPO), ClearStory Data (acquired by Alteryx for $19.6 million), and SigOpt (acquired by Intel).

AV Co-Investments with a16z

Honor is using AI to improve in-home senior care by providing home care agencies with access to more caregivers, technology, and backend operation solutions. Alumni Ventures co-invested with a16z in the company’s $50 million Series C.

Lunchclub is a professional relationship platform that uses AI to connect users based on mutual interests. Alumni Ventures co-invested with a16z in the company’s $24.2 million Series A.

Bessemer Venture Partners is one of Silicon Valley’s oldest VCs, launched over a century ago by a co-founder of Carnegie Steel. The firm has since made investments in companies like LinkedIn, Yelp, and Skype, and its AI portfolio companies include Devo ($1.5 billion valuation), Ada ($1.2 billion valuation), and BladeLogic (acquired by BMC for $800 million).

AV Co-Investments with Bessemer

Okera makes it easier for large enterprises to manage secure access to their data across numerous business units and applications. Alumni Ventures co-invested with Bessemer in a $15 million round.

Undock offers an AI-powered, end-to-end meeting platform designed to schedule, coordinate, and host meetings. Alumni Ventures co-invested with Bessemer in the company’s $1.6 million seed round.

Google’s main investment arm, GV, has $8+ billion in AUM. The fund has made investments in AI and enterprise software companies like ThousandEyes (acquired by Cisco for $1 billion) and Cloudera ($225 million IPO). In 2017, Google launched Gradient Ventures to invest in early-stage AI startups.

AV Co-Investments with Google

Determined AI is a software platform for deep learning to improve speed, reduce costs, and manage workflows. Alumni Ventures participated in a $11 million round led by GV. In 2021, the company was acquired by HPE.1

Flatfile is a bulk data import solution for software products. It automatically learns how imported data should be structured and cleaned. Alumni Ventures co-invested with Gradient Ventures in the company’s $35 Million Series A.

Mage is aiming to provide the “Stripe for AI,” with a low-code programming interface and infrastructure platform for tech product developers. Alumni Ventures participated in a $6.3 million seed round led by Gradient Ventures.

Khosla Ventures was launched by Vinod Khosla, Co-Founder of Sun Microsystems (acquired by Oracle for $7.4 billion). Khosla has over $15 billion in AUM and focuses on a broad range of investments. The firm’s AI and enterprise software investments include Arista Networks ($2.75 billion IPO), Contrail Systems (acquired by Juniper Networks for $176 million), MetaMind (acquired by Salesforce for $32.8 million), and Kaggle (acquired by Google).

AV Co-Investments with Khosla

Analog Inference is developing AI hardware for neural computing that provides higher performance with lower power demand. Alumni Ventures participated in a $10.6 million round led by Khosla.

WaveOne has developed a machine learning platform designed to process and compress clear digital videos. Alumni Ventures participated in a $6.5 million seed round led by Khosla.

M12, Microsoft’s venture capital fund, invests globally in early-stage enterprise software companies. Since 2017, M12 has led 53 rounds with a total value of $673.9 billion. The fund has multiple AI exits from its portfolio, including Figure Eight (acquired by Appen for $300 million), Element AI (acquired by ServiceNow for $230 million), and Twenty Billion Neurons (acquired by Qualcomm).

AV Co-Investments with M12

Agolo has developed advanced AI engines capable of analyzing thousands of documents daily and generating human-readable summaries in real time. Alumni Ventures co-invested with M12 in the company’s 2020 seed round.

To Be Announced

This company has developed a completely digital Neural Decision Processor and AI compute solution that enables running AI models in a wide variety of edge devices.

New Enterprise Associates (NEA) is considered one of the world’s largest VC investors, with more than $23 billion in committed capital. The firm’s portfolio has had 250 IPOs and 425 mergers/acquisitions, with notable investments like 23andMe, Buzzfeed, Groupon, Masterclass, Robinhood, Salesforce, Snap, and Uber.

AV Co-Investments with NEA

Lily AI has developed customer engagement AI to help fashion brands better convert customers through emotionally tailored recommendations. Alumni Ventures invested in Liy’s 2018 seed round led by NEA before co-investing with the firm in the company’s $12.5 million Series A.

Tamr is an enterprise software company designed to tackle large-scale data management challenges in organizations with extreme data volume and variety. Alumni Ventures participated in the company’s $18 million round in 2018. Previously, NEA co-invested with Google Ventures in Tamr’s $16 million seed round.

Woebot offers a digital mental health platform powered by an AI-enabled chatbot that can establish a bond with users and provide therapeutic support. Alumni Ventures co-invested with NEA in the company’s $90 million Series B.

AI Fund Open Through Q1 2022

Our AI Fund will invest in a diversified portfolio of ~20-30 companies applying AI, machine learning, big data, and related technologies. The fund will be invested over ~12-18 months with a large reserve (~20-25%) for follow-ons. Every investor becomes a member of the AI Venture Club, with opportunities to invest in Syndications, learn, and network.

To learn more, click below to review fund materials or connect with a Senior Partner.

Contact [email protected] for additional information. To see additional risk factors and investment considerations, visit av-funds.com/disclosures.

1While we are excited by the performance of these investments, venture is high risk and many investments do not work as expected. To see the performance of each exited investment for all Alumni Ventures funds over the last twelve months and our historical performance since 2014, click here.