Participated · Series A · Nov 2018

LoanStreet provides a fully integrated online platform for sharing, managing, and analyzing loans, including a market-leading loan participation and reporting solution and loan analytics. The company is developing a next-generation commercial loan servicing product. LoanStreet’s software connects financial institutions and streamlines loan administration to improve transparency and risk-sharing. Founded in 2013 by Ian Lampl, the platform serves banks, credit unions, and direct lenders through a nationwide network. Over 1,200 financial institutions now use LoanStreet’s solution to do business with each other and maximize lending capacity. The company plans to use new capital to drive adoption, expand analytics, and continue product development. Founded in 2013 and led by CEO Ian Lampl, LoanStreet offers a fully integrated SaaS lending solution that enables financial institutions to establish new revenue sources, scale loan purchases and sales, and improve balance sheet and regulatory reporting. The platform is used by hundreds of financial institutions. The company will use the new funding to continue to expand its business reach. LoanStreet’s product focuses on streamlining the process of sharing, managing, and originating loans across banks, credit unions, and alternative lenders. The company reports that it helps strengthen financial and regulatory reporting for its customers. Headquarters are in New York City.

Participated · Series A · Jan 2018

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 · Seed · Jul 2016

CloudApp is a visual work-communication platform that lets teams create and share HD screen recordings, GIFs and marked-up screenshots stored securely in the cloud. Files are accessible via native Mac and Windows apps or as password-protected web links and the product supports integrations with Slack, Atlassian, Trello, Zendesk and Asana. Since its launch the company has amassed more than four million total users and counts customers such as Adobe, Uber, Zendesk and Salesforce. Founded in 2015, CloudApp aims to reduce synchronous meetings and emails by enabling asynchronous, easily searchable visual messages. The company envisions using AI to surface the most relevant content and build repositories of quick-help videos to improve workflows across sales, support, product and engineering teams. CloudApp plans to use recent funding to speed the product, deepen integrations, enhance security, and expand product, engineering, marketing and sales teams. CloudApp is a video-led collaboration solution that enables instant business communication through shareable videos, GIFs, screenshots, screen recording, and GIF creation. The company offers Chrome, Mac, and Windows applications and integrates with workflow tools including Zendesk, Slack, Adobe, Drift, and Zapier. CloudApp reports more than 3MM users and nearly 1,000 corporate customers and has high user ratings on G2 Crowd, TrustRadius, and Gartner Peer Insights. The company plans to use the financing to invest in its fast-growing enterprise-led product and to scale sales and marketing. Its product positioning emphasizes improving productivity and customer experience for businesses. The company is headquartered in San Francisco. CloudApp is a visual communication platform that enables instant video messaging, screen recording, screenshot annotation, and GIF creation. Led by CEO Tyler Koblasa and based in San Francisco, it serves over three million users and thousands of businesses. The product focuses on bringing human connection back to digital workflows and helping professionals express ideas faster through visual imagery. In conjunction with the Adobe investment, CloudApp released a plugin for Adobe XD CC that debuted at Adobe MAX. The plugin allows XD users to capture and share designs without leaving the Adobe application, improving collaboration with clients and colleagues. Prior investors include Cervin Ventures, Bloomberg Beta and others; the company has raised a total of $6m to date. CloudApp is a San Francisco–based platform for capturing, annotating, and sharing visual content. The product lets users capture images and screenshots, annotate them, share them, and search information contained within any image. It integrates with services such as Twitter, Trello, Asana, Google Docs, JIRA, MailChimp, and Zendesk to help unify digital workflows. The company has just launched CloudApp 4, which adds image-content search and analytics to track user views. CloudApp 4 also includes a Business Edition with enhanced enterprise security, compliance and control, custom data hosting (via Amazon S3, Google, Box), and automated user provisioning (via Google Apps, OneLogin, Okta). CloudApp serves creatives, marketers, developers, and support teams and offers a free tier at getcloudapp.com. The company recently raised $2M in seed financing.

Participated · Equity · May 2015

Transpose provides an information management platform for structuring data, files and voice recordings across desktop, mobile and web applications. The company, formerly known as KustomNote, is led by CEO Hussein Ahmed, CTO Samah Gad and CCO Skyler Johnson-Wagner and is based in Seattle, WA. Transpose intends to use the $1.5M in funding to continue product development and hire additional employees. The company currently employs nine people. The announced financing was raised to advance the product and expand the team, according to the company.