Participated · Seed · Jul 2021

Anduin provides accounting firms with an Intelligence-Based Billing platform that automates invoice preparation, collections and payments to speed up cash flow. The software integrates data from disparate firm systems to streamline billing workflows and offer receivables solutions. With the fresh capital the company plans to launch Anduin Predictive Insights, delivering real-time performance analytics, and to roll out a cloud-based, mobile-enabled, open-architected Practice Management suite. These forthcoming products aim to give firm leaders visibility into operations and an expanded set of AI-driven practice-management tools. The company is led by CEO Justin Adams and CPO Ellen Choi and is headquartered in Charlotte, North Carolina. The July 2021 seed financing brings its total funding to at least $14 million; no other revenue or user metrics were disclosed in the article.

Participated · Series C · May 2021

Wefox operates a digital insurance platform focused on asset-light Managing General Agent (MGA) operations and smart insurance distribution. The company is a leading wholesale broker in Austria, the #1 player in the Dutch term-life market under the TAF brand, and a top-ranked retail insurance distributor in Switzerland. Recent restructuring included the sale of wefox Insurance AG (Liechtenstein) and its Italian entities, actions aimed at streamlining the business. Management says the company is positioned for full-year profitability in 2025. Wefox plans to use new capital to strengthen positions in Austria, the Netherlands, and Switzerland and to expand its MGA and smart distribution businesses globally. The company intends to foster partnerships with insurers and scale local distribution platforms to drive sustainable growth. Founded in 2015 and valued at $4.5bn, wefox runs an end-to-end technology platform that connects insurers, broker partners and customers and has been active as an insurer since 2018. Over the past 18 months the company has been streamlining operations—selling assets, closing hubs and withdrawing from unprofitable markets—to focus on profitable markets of critical size. Technology efforts will concentrate on empowering local distribution platforms; the company is closing technology hubs in Spain and France and sold its Austrian subsidiary wefox Experts Versicherungsmakler GmbH (closing June 18, retroactive to Dec 31, 2023). Wefox plans to further build positions in the Netherlands, Austria and Switzerland while transforming its Italian business to improve profitability and withdrawing from the German market. The insurance carrier wefox Insurance AG will be detached from the core business, had a solvency ratio of 176% on 31 March 2024, and is seeking disposal of non-core portfolios starting with the Polish portfolio. Investors have provided immediate fresh capital of EUR 25 million to support the restructuring and a medium-term repositioning as a technology-enabled insurance distribution company. Wefox is an insurtech company undergoing a rapid transition from a period of hypergrowth to one of profitable growth, a shift its CEO described as complex and requiring difficult choices. In 2022 the company quadrupled its premium income versus the prior year, but losses also increased, including losses from its brokerage business. Management says 2023 will be characterised by a transformation into a profitable company; the firm has hired an experienced CFO and scaled back activities in some insurance segments. Investors have signalled support for that strategic pivot. The company confirmed the fundraising publicly via its CEO’s LinkedIn post, emphasising the need to adapt to market realities. Wefox operates a brokerage and distribution-led insurance platform, selling products through in-house and external insurance brokers rather than a direct-to-consumer model. The company recently launched its own carrier, Wefox Insurance, enabling it to design and sell proprietary products alongside third-party policies. Its distribution business is the primary revenue source and is already profitable; the platform has around 4,000 distribution partners and handles roughly €2 billion in insurance premium volume, €200 million of which was Wefox’s own insurance last year. Wefox has said it doubled revenue and margins in Q1 year-over-year and is streamlining activities to reach profitability across both distribution and insurance. The company plans to expand into new European markets such as France, Spain, and the U.K., likely via acquisitions of distribution businesses. Next year it intends to release a technology stack that will let other insurers create products, manage performance, and handle claims via APIs, positioning itself as an infrastructure provider for insurance. Wefox operates an insurance platform that distributes products through a mix of in-house and third-party brokers rather than direct-to-consumer channels. The company says its indirect distribution model lowers customer acquisition costs and enabled rapid scale through broker networks. Wefox reported revenues doubled to $320 million last year, generated $200 million in the first four months of 2022, and expects roughly $600 million in turnover by year-end; it passed 2 million customers and has around 3,000 independent brokers in Germany. Founded in Berlin in 2015, the firm says the model improves loss ratios and customer lifetime value and puts it on a path to profitability. Management describes the recent raise as prudential "future-proofing" rather than rescue financing. The company plans to enter new European markets in 2022 and aims for U.S. and Asian expansion in 2024.

Participated · Series B · Feb 2021

Honeycomb is a San Francisco–based provider of an observability platform used by engineering teams to investigate cloud application behavior. Led by CEO Christine Yen, the product helps teams quickly understand what their code does for real users in unpredictable, complex cloud environments. Customers include HelloFresh, Stripe, Slack, Fender, Vanguard, and LaunchDarkly. The company raised $50M in a Series D round, bringing total funding to $150M. Honeycomb intends to use the funds to accelerate geographic expansion, support and contribute to OpenTelemetry, and build a cohesive integration strategy across the software development ecosystem. Kelly Watkins, former VP of Global Marketing at Slack and CEO of Abstract, joined Honeycomb's board of directors as part of the round. Honeycomb provides a software observability platform that helps developers and SREs understand, debug, and optimize production cloud applications and microservices. The platform is used by teams at companies such as Stripe, Slack, Heroku, and LaunchDarkly. Honeycomb ships features like BubbleUp, an analytical engine built on a proprietary datastore that surfaces hidden outliers, and integrates with AWS, Kubernetes, MongoDB, MySQL, and PostgreSQL. Its tooling emphasizes exploratory analysis over aggregate APM metrics to speed investigations and surface where engineers should look for problems. Founded in San Francisco in 2016, Honeycomb positions itself for modern cloud-native architectures and continuous troubleshooting. Financially, the company raised a $50M Series C and had previously raised around $47M; it says the new funding will support expansion into Europe, including building a dedicated European team. Honeycomb is a San Francisco-based provider of cloud observability for distributed systems, led by CEO Christine Yen. Its platform enables modern development teams to learn, debug, and improve production systems so business-critical apps perform with minimal disruption to users. Customers use the product for fast incident response, system optimization, and delivering pain-free releases across the software engineering cycle. The company currently serves more than 300 customers. Honeycomb intends to use the new funds to expand operations and broaden its business reach. The company has raised a total of $46.9m to date. Honeycomb provides observability solutions for modern Engineering and DevOps teams to observe, debug, and improve production systems. The company was co-founded by Charity Majors and Christine Yen in 2016 and is based in San Francisco, CA. Customers include Intercom, Optimizely, Shipt, Meetup, and Fender. Honeycomb closed an $11.4M funding round that brought its total funding to $26.9M. The company intends to use the funds to grow teams across all business functions, particularly sales, marketing, and customer success. As part of the round, Ariel Tseitlin from Scale Venture Partners will join Honeycomb’s Board of Directors. Honeycomb is an observability provider for software engineers based in San Francisco, CA. Co-founded by Charity Majors (CEO) and Christine Yen (CPO), the company enables engineers to create and analyze data about the behavior of their software. Its tooling lets users move from visualizing aggregate trends to pinpointing exact problems such as a stalled shopping cart, a query starving a system, or a problematic user. Customers include Fender, Axios, Intercom and Travis CI. Honeycomb raised an $11.5M Series A, bringing total funding to $15.5M. The company intends to use the funds to expand sales and marketing and deepen R&D activities.

Participated · Seed · Oct 2017

ImpactVision provides machine-learning software that interprets images from hyperspectral cameras to assess food quality non-invasively. The company bundles off-the-shelf hyperspectral cameras, installs sensors in processing lines, and charges a recurring software fee. It has run pilot projects worldwide across meat, fish, fruit, and salad and counts Beta San Miguel as its first commercial installation, where the system detects foreign objects in sugar. ImpactVision is working with avocado and berry distributors to replace destructive sample-based tests and automate processes such as counting and ripeness assessment to cut waste. The company says new funding will be used to accelerate product development and grow its sales and engineering teams. While focused on food companies for the foreseeable future, ImpactVision envisions potential consumer-facing applications such as smartphone scanning apps. ImpactVision builds software that analyzes hyperspectral images to determine characteristics like ripeness, tenderness and freshness across food products. It captures imagery using third-party hyperspectral sensors and trains computer-vision models via ground-truthing, comparing images to manual tests and measurements such as pH. The company currently works with one main hardware provider but plans to be compatible with a range of sensors as those become commoditized. For clients it can provide a full package including equipment installation and calibration alongside ongoing analytics fees, though it ultimately prefers to deliver software as a service. Use cases demonstrated include meat tenderness, avocado ripeness, fish freshness and a trial for foreign object detection. ImpactVision will use the new funding to further develop its technology, expand the business and hire new staff.