The Flowlie Times #48
History of VC; selling work, not software; Carta and InVision updates; and more
Welcome to The Flowlie Times.
AI features launched on Flowlie
We integrated generative AI features into Flowlie. To start, we are giving founders a way to enhance their company description to improve fundraising odds. In the future, we will introduce AI-powered deck feedback, ensuring a cutting-edge and dynamic experience for founders.
Articles we enjoyed:
1️⃣ Great post from last year. Read to learn about a pricing strategy for AI startups: moving from selling software for productivity to selling the actual work product.
2️⃣ Read about the history of venture capital, its biggest players, and the investment methods driven by it.
3️⃣ “Carta has decided to close its liquidity services business, which matched buyers and sellers of private company stock” - read more here from Axios.
The bottom line: "Just the appearance of impropriety is damning," Ward wrote.
4️⃣ InVision, a UX design company, is discontinuing its design collaboration services by the end of 2024, with CEO Michael Shenkman citing the need for users to plan the transition smoothly. The company, once valued at nearly $2 billion, faced opinions on its decline, with users noting stagnation and failure to adapt to market changes.
Podcast highlight
This week, Yoav Oren, co-founder and CEO of Zoog joins Vlad Cazacu, co-founder and CEO of Flowlie, to discuss their latest $2.2M Pre-Seed Round, leadership during difficult times, and the role of the CEO for an early-stage business.
Venture announcements that caught our eye:
1️⃣ Rainbow, a managing general underwriter focusing on small business insurance, has secured $12 million in seed funding from investors such as Caffeinated Capital, Altai Ventures, Zigg Capital, and more. The company, led by experienced entrepreneurs, offers tailored insurance products with a technological edge, starting with a business owner's policy (BOP) for the restaurant industry, currently available in 8 states and expanding to over 25 states in 2024.
2️⃣ Miami startup Dispatch (formerly OneAdvisory) has raised $8 million in seed funding led by F-Prime Capital. Dispatch offers 'data orchestration' for investment advisors, simplifying data synchronization across their tech stack. The funds will support company expansion and partnerships with CRMs, financial planning tools, and custodians.
3️⃣ Perplexity AI, an AI-powered search engine, has secured $73.6 million in a funding round led by IVP, with Jeff Bezos among the investors. The round values Perplexity at $520 million, and the funds will be used for company expansion and partnerships. Perplexity offers a chatbot-like interface for natural language queries and aims to provide a superior search experience using its GenAI models, with a Pro plan priced at $20 per month.
Have a great week,
Mike from Flowlie