Enterprise Weekly #453: Work-Bench Promotions, Carta Drama, and More
We want to kick off with a huge congratulations to our Work-Bench team members who have been promoted this week: Kelley Mak to General Partner, along with Priyanka Somrah and Daniel Chesley to Principal 🎉
We’re also excited to announce that our Work-Bench portfolio company and consumption-based pricing platform Octane is joining Stripe! It’s been an honor to work with co-founders Akash Khanolkar and Ahmed Shalaby and we can’t wait to see them continue to build the best-in-class billing system with the tremendous reach and scale of Stripe.
On to this week’s drama - Carta. The TL;DR is that one sales rep, according to Carta, used confidential customer data to craft and send out sales pitches for a secondary stock sale. Carta’s now getting heat for violating data privacy ethics, which ultimately led to the company's decision to “prioritize trust, and exit the secondary trading business.”
Lastly, Danny spoke to a number of banks to get the DL on the State of FSI Compliance. What he found was that thanks to a surge in data breaches, malicious activity and fraud, FSIs have undergone a significant transformation in compliance and risk management, making it an attractive market for startups. In his post, he outlines:
FSI’s purchasing framework
Risk vs. reward for AI/M
The current startup landscape
More compelling opportunities for startups
📚 Read more news:
CNBC: Twilio CEO Lawson Steps Down After Bruising Activist Battles
Crunchbase: After A Turbulent Few Years, Venture Should Steady In 2024
Forbes: Keith Rabois Makes A Surprise Return To Khosla Ventures, Five Years After Joining Founders Fund
INSIDER: A Leaked Presentation Reveals How Microsoft Built One Of Its Top Generative AI Products
The Information: How Wall Street Firms Are Warming to AI—With Help From Silicon Valley
WIRED: Congress Wants Tech Companies to Pay Up for AI Training Data
📚 Read more (th)reads:
Company: VISO Trust
Roles: Senior Product Marketing Manager & Senior Digital Marketing Manager
Technology: Third Party Risk Management
Funding: $14M from Work-Bench, Bain Capital Ventures, Sierra Ventures, Lytical Ventures
🌟 Company of the Week 🌟
Ask-AI raises $11M led by Leaders Fund
Data / AI / Machine Learning • Series A • Tel Aviv, Israel
Founder: Alon Talmor (CEO)
Mercor raises $3.6M led by General Catalyst
HR Tech • Seed • San Francisco, CA
Anecdotes raises $25M led by Glilot Capital Partners
Risk / Security • Series B • Tel Aviv, Israel
FlutterFlow raises $25.5M led by GV
Infrastructure / Dev Tools • Series A • Mountain View, CA
Vortexa raises $34M led by Morgan Stanley Expansion Capital
Future of Work • Series C • London, UK
Luma raises $43M led by Andreessen Horowitz
Data / AI / Machine Learning • Series B • San Francisco, CA
Hyperexponential raises $73M led by Battery Ventures
Data / AI / Machine Learning • Series B • London, UK
PerformYard raises $95M led by Updata Partners
HR Tech • Venture • Arlington, VA
ExtraHop Networks raises $100M led by Bain Capital and Crosspoint Partners
Risk / Security • Private Equity • Seattle, WA
Vantage Data Centers raises $6.4B from DigitalBridge Group and Silver Lake
Data / AI / Machine Learning • Private Equity • Denver, CO
Mimecast acquires Elevate Security for an Undisclosed Amount
Risk / Security • Acquisition • Lexington, MA