Enterprise Weekly #459: Discover What’s In Capital One’s Wallet, Nvidia's Blowout, and More
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Some 🔥 news in the enterprise this week.
On Monday, Capital One announced it’s buying Discover Financial Services for $35.3B. As always, regulators will take a close look at the deal for antitrust concerns as it will marry two of the largest credit-card companies in the US, and mark one of the banking sector’s largest deals since the 2008 financial crisis. Why else is this a big deal?
On Wednesday, Nvidia backstopped the global economy with a blowout Q4 earnings report. It’s now considered “the most important stock on planet earth” thanks to a reported $22.1B in revenue, up a staggering 265% YoY. The success stems from their control of ~80% of the high-end AI chip market, which is surging worldwide as companies aim to provision access to Nvidia’s highly sought after GPUs. However, competition is heating up as OpenAI is reportedly trying to raise up to $7 trillion to vertically integrate and build its own AI infrastructure that would rival Nvidia’s.
And yesterday, AT&T, Verizon, and other service providers saw over 74,000 sweeping outages thanks to a vaguely described IT snafu. Just another reminder of how detrimental downtime can be for a person, business, and full community, and the importance of implementing a robust site reliability engineering process with companies like our portfolio company FireHydrant.
Lastly, We caught up with Sanjay Padval, Work-Bench #WBNextNYC operator and Group Product Manager at Vanta, to get his POV on what the journey has been like moving Vanta up-market.
🖥️ Join more events:
Thursday, February 29: The Ins and Outs of Startup Cap Tables
📚 Read more news:
Business Insider: 58 Black Investors Changing The VC Industry With Firms That Fund Diverse Startup Founders
CNBC: Reddit Files To List IPO On NYSE Under The Ticker RDDT
NY Times: Inside the Funding Frenzy at Anthropic, One of A.I.’s Hottest Start-Ups
WSJ: Tech Leaders Fled San Francisco During the Pandemic. Now, They’re Coming Back.
The Verge: Google Pauses Gemini’s Ability To Generate AI Images of People After Diversity Errors
📚 Read more (th)reads:
Jon Lehr on why Seed is a bright spot amidst funding declines
- on how early vesting is broken
SaaStr on taking over a year to close an enterprise customer
The BAIR Blog on the shift from models to compound AI systems
- on remaining questions around AI
Company: Courier Health
Role: Senior Software Engineer - Full Stack & Backend
Technology: Patient Engagement Platform
Funding: $4M from Work-Bench
🌟 Company of the Week 🌟
VectorShift raises $3M led by 1984 Ventures, defy.vc, and Others
Data / AI / Machine Learning • Seed • New York, NY
Co-Founders: Alex Leonardi (CEO), Albert Mao (COO)
SigScalr raises $1.8M led by Scribble Ventures
Data / AI / Machine Learning • Pre-Seed • Nashua, NH
Evergrowth raises $2.2M led by Impellent Ventures and Practica Capital
Sales / Marketing • Pre-Seed • Vilnius, Lithuania
NodeShift raises $3.2M led by Inovo.vc
Infrastructure / Dev Tools • Seed • San Francisco, CA
ZipLines raises $6.4M led by Jackson Square Ventures
Future of Work • Series A • San Carlos, CA
Novity raises $7.8M led by WERU Investment
Future of Work • Seed • San Carlos, CA
DatalogyAI raises $11.7M led by Amplify Partners
Data / AI / Machine Learning • Seed • Redwood City, CA
Faddom raises $12M led by Viola Ventures and NFX
Infrastructure / Dev Tools • Series A • Ramat Gan, Israel
Orkes raises $20M led by Nexus Venture Partners
Infrastructure / Dev Tools • Series A • Cupertino, CA
DustPhotonics raises $24M led by Sienna Venture Capital, Greenfield Partners and Others
Data / AI / Machine Learning • Series B • Modi'in, Israel
Highway 9 Networks raises $25M led by Mayfield, General Catalyst, and Others
Infrastructure / Dev Tools • Seed • Santa Clara, CA
Synadia Communications raises $25M led by Forgepoint Capital
Infrastructure / Dev Tools • Series B • San
Fabric raises $60M led by General Catalyst
Future of Work • Series A • New York, NY
Clumio raises $75M led by Sutter Hill Ventures
Data / AI / Machine Learning • Series D • Santa Clara, CA
Recogni raises $102M led by Celesta Capital and GreenPoint Ventures
Data / AI / Machine Learning • Series C • San Jose, CA
Magic AI raises $117M led by NFDB Ventures
Data / AI / Machine Learning • Series B • San Francisco, CA
Apica acquired Circonus for an Undisclosed Amount
Data / AI / Machine Learning • Acquisition • Malvern, PA
Apryse acquires LeadTools for an Undisclosed Amount
Infrastructure / Dev Tools • Acquisition • Charlotte, NC
Delinea acquires Fastpath for an Undisclosed Amount
Risk / Security • Acquisition • Des Moines, IA
1Password acquires Kolide for an Undisclosed Amount
Risk / Security • Acquisition • Boston, MA