Inside Bessemer’s billion-dollar AI bet

Let’s look at AI public company performance May 22, 2023 Hi, {NAME}. When [Bessemer Venture Partners]( one of the oldest and more established venture firms in the U.S., shares its AI investment strategy with us, we take it in. Now you can too in this exclusive interview with one of its partners. Plus, it’s not all sunshine and rainbows for recently public AI companies. 💰 [Why Bessemer is betting $1B on AI]( [Bessemer Venture Partners]( massive bet on the future potential for AI reflects its belief that the technology is a seismic shift that will fundamentally change the way billions of people work. See what else Bessemer partner [Sameer Dholakia]( has to say. 🤖 [Recently public AI-focused startups are not hot]( Artificial intelligence is the subject generating by far the most buzz in startup circles. But if we [look at AI-related performance on the public markets]( it’s clear that an AI focus hasn’t been a recipe for stock market gains. 🥇 [Top 10 rounds: Big money flowed in explosive funding turn]( After several weeks of one or two nine-figure rounds, last week saw an explosion, with eight rounds to U.S. startups hitting $100 million or more. Water tech startup [Gradiant]( took the lead. 🪓 [Insurtech on the chopping block]( Both [Lemonade]( and [Pie Insurance]( announced layoffs last week. Overall, at least 144,000 workers at U.S.-based tech companies have been laid off in mass job cuts so far in 2023, per a Crunchbase News tally. See who the latest companies are to cut roles. 🏀 [Now hiring: Cybersecurity startup and pro sports-backed fintech]( In this week’s edition of Who’s Hiring In Tech, we round up five startups that have raised money in the past 12 months, that haven’t had [reported layoffs in the past year]( and that are actively hiring for multiple open roles. ⛰️ [The top 8 challenges of prospecting and how to conquer them]( Identifying leads, finding reliable data and time management are just a few of the major challenges of prospecting. Here are some strategies to help combat them and close more deals. [Crunchbase ROI Calculator]( [See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data.]( [Calculate]( Recent Investments [IQVIA]( [$1.0B]( / [Post-IPO Debt]( IQVIA provides analytics, compliance, and management solutions to the life sciences industry. Categories: Analytics • Health Care • Life Science Founders: [Dennis Gillings]( [Myeloid Therapeutics]( [$73M]( / [Series A]( Myeloid Therapeutics is a clinical stage mRNA-immunotherapy company developing novel therapies for cancer and autoimmune diseases. Categories: Biotechnology • Life Science • Therapeutics Founders: [Daniel Getts]( [Ronald Vale]( [Siddhartha Mukherjee]( [Thomas Cahill]( [Yuxiao Wang]( Investors: [Hatteras Venture Partners]( (Lead), [8VC]( [Alexandria Venture Investments]( [+ 3 more]( [Hallow]( [$50M]( / [Series C]( Hallow is a Catholic prayer and meditation app that hopes to help people grow closer to God. Categories: Apps • Health Care • Religion • Wellness Founders: [Alessandro DiSanto]( [Alex Jones]( [Erich Kerekes]( Investors: [Goodwater Capital]( (Lead), [Colin Moran]( [Highland Capital Partners]( More Fundings Company Amount / Round Lead Investor [Kelvin]( $30M / [Series A]( [2150]( [Course5 Intelligence]( $28M / [Venture Round]( [360 ONE Asset]( [Rooter]( $16M / [Venture Round]( [Lightbox]( [OncoResponse]( $14M / [Venture Round]( [RiverVest]( [Azteco]( $6.0M / [Seed Round]( [Jack Dorsey]( [Kelvin]( Unknown / [Debt Financing]( - [Rooter]( Unknown / [Debt Financing]( - [Abridge]( Unknown / [Corporate Round]( [IKS Health]( [SpiderOak]( Unknown / [Venture Round]( - [All Recent Funding Activity]( Recent Acquisitions [Winsight]( Pending acquisition by [Informa]( for $380M More Acquisitions Company Acquired By Amount [IDAJ]( [Bain Capital]( $147M [All Recent Acquisition Activity]( Upcoming Tech Events [CoinFest Asia 2023]( August 24 - 25, 2023 in Bali CoinFest Asia is a cryptocurrency event that brings together blockchain enthusiasts, developers, and investors from around the world. Accelerator Deadlines Date Accelerator Location Jun 4, 2023 [Tenity]( Zürich Jun 15, 2023 [Founder Friendly Labs]( Palo Alto [More Upcoming Deadlines]( Don’t see your event? Reach out to us at events@crunchbase.com. #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.