Participated · Seed · Jun 2025

Somnee builds an AI-powered neurotech headband that uses proprietary EEG+ and AI technology to map brain activity and deliver personalized, non-invasive stimulation to guide users into deeper, faster sleep. Clinical study results reported faster sleep onset (twice as fast), over 30 minutes longer sleep, and a one-third reduction in tossing and turning; the company says it outperforms melatonin, CBT‑i, and Ambien in those measures. Its therapeutic approach is backed by clinical studies and covered by 24 patents. Somnee is preparing to launch a second-generation headband and a SmartSleep AI operating system that enables personalized brain mapping, real-time monitoring, and AI-powered interventions throughout the sleep cycle. The second-generation product is in beta pilots with select NBA teams and performance staff, and the company has partnerships with Equinox Hotels and NBA programs. Somnee has relocated manufacturing out of China and expanded teams in Berkeley and India as it scales to address the sleep-aid market.

Led · Seed · Mar 2023

Allermi offers a personalized telehealth allergy solution that combines and adjusts doses of up to four clinically proven active medications into a single customized nasal spray prescribed after an online questionnaire reviewed by an Allermi physician. Patients receive monthly or on-demand deliveries, a personalized treatment plan, and access to a dedicated care team for ongoing support. The company launched in California last July and is available in 28 states nationwide. Allermi reports growth of over 30% month-over-month and says over 90% of patients report superior relief compared with over-the-counter options. The product addresses a large market—roughly 110 million Americans suffer from nasal congestion and rhinitis—where only about 30% of sufferers are satisfied with existing medications. Future plans for the seed funding include continued national expansion and scaling of business, marketing, and product operations to meet growing demand.

Participated · Series C · Sep 2020

Petal issues Visa credit cards (issued by WebBank) that let consumers who are new-to-credit qualify using their banking history rather than established credit scores. The company enables individuals to build credit histories and targets millions of U.S. consumers with limited or no traditional credit data. Petal has approved nearly 400,000 consumers for its credit cards to date, including more than 100,000 new cards approved in 2022. Led by CEO and co-founder Jason Rosen, the company plans to expand the Petal credit card program using the new capital. With the announced transactions Petal has raised more than $300M in equity capital and more than $680M in debt financing to date. The firm is based in New York, NY and Richmond, VA. Petal issues three Visa credit card products and a companion mobile app that use cash-flow underwriting (and traditional credit scores when available) to help underserved consumers build credit. Its cards are issued by WebBank while Petal manages servicing and monetizes via interchange, interest and card fees (including a $59 Rise membership). Demand has grown rapidly: Petal added 100,000 cardholders last year and reported 300,000 cardholders at its January 2022 Series D. At that time it said it was doing $20–30 million in annualized revenue, which rose to $80 million by year-end; management projects profitability sometime in 2024. The company says delinquency and default rates have not risen and have been improving this year. Petal conducted a restructuring in Q3 that reduced headcount by about 10% and currently has roughly 140 employees. Petal is spinning out its Prism Data unit (established in 2021, ~10 employees) to commercialize its cash-flow underwriting technology to other lenders and fintechs. Founded in 2016 and based in New York, Petal offers two Visa credit card products and a mobile app designed to help consumers build credit responsibly by underwriting on cash flow rather than traditional credit scores. Its proprietary underwriting, branded CashScoring, analyzes banking history—income, spending and savings—and was productized into Prism Data, a B2B platform launched in 2021 to provide transactional scoring and insights to other fintechs and financial institutions. Over the past year Petal tripled its user base and more than quadrupled revenue, growing from $11 million to nearly $50 million; it now reports nearly 300,000 cardholders and adds 10,000–20,000 new members per month. The company says members who joined with no prior credit history have reached an average credit score of 676. Petal has more than 160 employees (doubling over the last year) and plans to hire 100+ roles in 2022 while adding new card features and scaling to hundreds of thousands more cardmembers. Prism Data is described as a sister company and a strategic growth channel alongside Petal’s consumer card business. Petal is a New York, NY and Richmond, VA-based credit-card company that issues two Visa cards, Petal 1 and Petal 2. Petal 1 targets consumers with existing credit history; Petal 2 helps people build credit with a no-fee card, cash back and higher limits for those new to credit. The company uses a Cash Score—an alternative measure based on income, savings, and spending history—to evaluate creditworthiness and encourage responsible spending. Petal credit cards are issued by WebBank, Member FDIC. To date more than 100,000 people have been approved for the two cards. The company intends to use new financing to expand and support the Petal credit card program. Petal issues consumer credit cards and distinguishes itself by underwriting applicants based on prospective cash flow rather than traditional credit scores, enabling access for underbanked users. The company has grown by “tens of thousands” of customers since early 2019 and now employs about 100 people while operating remotely. Petal opened a second office in Richmond, Virginia and recently hired Kaustav Das as chief risk officer, bringing experience from Kabbage. Financially, Petal has raised equity rounds totaling roughly $100 million and in September secured a $300 million debt facility from Jeffries to finance its card product. In April the company closed a $55 million Series C to support expansion. Management’s near-term goal is to onboard hundreds of thousands of new customers over the next two years.

Participated · Equity · Aug 2020

Octane AI provides ecommerce marketers with tools to collect zero-party data and power personalized customer journeys across owned and paid marketing channels. Led by CEO and Co‑Founder Matt Schlicht and President and Co‑Founder Ben Parr, the company targets small and medium-sized Shopify stores around the globe to boost website conversion rates and generate revenue. It recently launched a Conversational Pop-up product and a Shop Quiz designed to provide a consultative experience that helps merchants find the right point-of-sale hardware for their business quickly. The company operates as an all-remote organization and employs team members in over 14 countries. Octane AI is based in San Francisco, California. Octane AI provides a buyer-profile, Messenger, and SMS marketing platform tightly integrated with Shopify to help merchants personalize customer journeys and drive conversions. The company launched a Shoppable Quiz private beta, a drag-and-drop quiz builder that integrates with Shopify, Klaviyo, ReCharge and other ecommerce tools to recommend products and allow customers to add items to cart from quiz results. The Shoppable Quiz uses advanced quiz logic and ties into Octane AI’s Messenger and SMS tools to deliver personalized follow-ups and build buyer profiles. Octane AI positions the product as a way to bring consultative retail experiences online and to enable deeper personalization previously available only to much larger companies. The company has partnerships with a range of ecommerce agencies and platforms and is offering demos of the Shoppable Quiz to merchants. Octane AI is all-remote, employs team members in 10+ countries, and was founded in 2016. Octane AI builds a Wix- or Weebly-like platform that enables businesses to create chatbots for Facebook without developer resources. The company was launched by Ben Parr, Matt Schlicht and Leif K-Brooks and has grown a following via a popular Facebook group and a digital magazine. Its product is described as a paint-by-numbers bot creation tool that is easy to use and intended to save time and make money for businesses. Octane AI already counts clients including 50 Cent and Aerosmith. With $1.5 million in funding led by General Catalyst, the team plans to double down on its Facebook business and expand to SMS, iMessage, Slack and websites.

Participated · Series A · May 2019

Mint House, founded in 2017 by CEO Will Lucas and based in New York, operates tech-enabled residential hospitality properties designed with full kitchens, expansive living areas and connected workspaces. Its proprietary tech stack and mobile-first model powers mobile check-in and keyless entry, pre-stocked groceries, 24/7 digital concierge services, on-demand fitness, smart thermostats and shoppable spaces. The company follows an asset-light operating strategy driven by long-term management agreements rather than traditional leases. Mint House currently operates 22 properties in 14 markets and reported growth of over 200% in 2021, having tripled its property count over the last two years. The company raised new capital to continue expanding its operations and business reach. Mint House offers apartment-style, tech-forward accommodations targeted at business travelers, using a mobile app for check-in, in-app messaging, and guest services. The company partners with multifamily developers and owners who typically lease between 20 and 200 units, and it provides an amenity-rich platform for all building residents. At the time of the article Mint House had 400 high-end residential units (200 in operation, 200 scheduled to open by summer 2019) and more than 250 additional units under contract. Mint House emphasizes delivering a top-rated guest experience and targets secondary cities with growing tech communities and business-traveler populations. The company plans to continue developing its technology, open in new buildings around the country, and increase staff to support future growth.