Silicon Valley Investclub

Eruditus Executive Education 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟏𝟓𝟎 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐭 𝐚 $𝟑 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 Eruditus Executive Education is an educational technology company providing access to executive education programs from some of the world's most prestigious universities. Eruditus Executive Education is redefining executive education by making it more accessible, flexible, and relevant. Through strategic partnerships, technological innovation, and a deep understanding of the needs of modern professionals, the company is poised to shape the future of learning. Eruditus Executive Education has raised $150 million in a Series F funding round at a $3 billion valuation. The new round was led by private equity firm TPG and saw the participation of existing investors Softbank, Leeds Illuminate, Accel, CPP Investments | Investissements RPC, and Chan Zuckerberg Initiative. Eruditus Executive Education, Mumbai, Maharashtra, India, was founded in 2010 by Ashwin Damera and Chaitanya Kalipatnapu. In 2021, the company joined the unicorn club. Co-founder and CEO Ashwin Damera noted that the company’s primary focus will be on developing AI-driven products for educational experiences, broadening their efforts to market courses to enterprises, and intensifying their presence in the Indian market, particularly as Eruditus Executive Education is contemplating a future public offering in India.

𝐒𝐢𝐥𝐢𝐜𝐨𝐧 𝐕𝐚𝐥𝐥𝐞𝐲 𝐔𝐧𝐢𝐜𝐨𝐫𝐧 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞 - 𝐐𝟑 𝟐𝟎𝟐𝟒 We are excited to share our latest insights from the Silicon Valley Investclub! In this report, we analyze key trends in the unicorn ecosystem, focusing on: ✅The growth in secondary share prices for 143 Silicon Valley unicorn companies in Q3 2024, outperforming major indexes with a 7.87% increase. ✅Breakdown of $20.8 billion in investments, with 90% going to AI, signaling its dominance in the tech landscape. ✅Success stories like Tekion Corp, Cribl, Kong Inc., and Harvey achieving impressive valuations and returns for investors. Get the inside scoop on the latest funding rounds and industry trends in our new Q3 Digest. Stay updated on Silicon Valley's innovations!

Lightmatter 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟒𝟎𝟎 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐭 𝐚 $𝟒.𝟒 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 Lightmatter is a photonic supercomputing company developing light-powered chips designed to accelerate AI-driven computations. By utilizing photons — the fundamental particles of light — instead of traditional electronic circuits, Lightmatter’s technology has the potential to compute at the speed of light. This revolutionary shift in computing architecture enables ultra-fast data processing, significantly reducing latency and maximizing computational performance. Lightmatter has raised $400 million in a Series D funding round, increasing the company’s valuation to $4.4 billion. The new round was led by new investors advised by T. Rowe Price Associates with participation from existing investors, including Fidelity Management And Research Company and GV (Google Ventures). With the fresh funding, Lightmatter will gear up to deploy Passage on a large scale in partner data centers, facilitating the expansion needed to drive ongoing AI innovation. In total, Lightmatter has raised $850 million to date. Lightmatter, Boston, Massachusetts, United States, was founded in 2017 by Darius Bunandar, Nicholas Harris, and Thomas Graham. In 2023, the company joined the unicorn club. “We’re not just advancing AI infrastructure — we’re reinventing it. With Passage, the world’s fastest photonic engine, we’re setting a new standard for performance and breaking through the barriers that limit AI computing. This funding accelerates our ability to scale, delivering the supercomputers of tomorrow today,” noted Lightmatter co-founder and CEO Nicholas Harris.

Decagon 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟔𝟓 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 Decagon is a leading innovator in AI customer support agents that enhances the quality of customer interactions and empowers customer support team leaders with unparalleled visibility into their operations. Decagon’s generative AI leverages advanced natural language processing and machine learning techniques to simulate human empathy, comprehension, and adaptability. This enables its AI agents to hold more meaningful conversations, handle complex queries, and provide personalized support that closely mirrors human interactions. Decagon has raised $65 million in a Series B funding round led by Bain Capital Ventures with participation from Elad Gil, A*, Accel, Bond Capital, and ACME Capital. In total, the company has raised $100 million to date. Decagon, San Francisco, California, United States, was founded in 2023 by Ashwin Sreenivas and Jesse Zhang. “AI is often seen as destroying jobs, but at Decagon, we believe the opposite. Our AI agents are enhancing jobs, not replacing them,” said Jesse Zhang, CEO of Decagon. “In a few years, every company will have AI agents running their customer experiences. Customer support staff are no longer fielding routine tasks; they are now becoming AI managers — configuring, training, and overseeing the AI agents that handle repetitive work.”

Purplle.com 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟏𝟖𝟎 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐭 𝐚 $𝟏.𝟑 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 Purplle.com is a leading online marketplace for beauty and grooming products, offering a wide selection, personalized recommendations, and a smooth shopping experience. With over 60,000 products from 1,000+ brands, the platform addresses diverse beauty needs. From skincare and haircare to makeup and fragrances, Purplle.com provides options for every preference and budget. In 2022, the company achieved unicorn status, marking a significant milestone in its growth journey. Purplle.com has raised $180 million in a Series F round led by Abu Dhabi Investment Authority (ADIA), with additional participation from existing investors such as Premji Invest and Blume Ventures. The fresh funding will help Purplle.com pursue its mission of making beauty accessible to all. The company aims to harness technology to improve the way consumers explore and buy beauty products and services, broadening its audience, according to a press release from the firm. Purplle.com, Mumbai, Maharashtra, India, was founded in 2012 by Manish Taneja and Rahul Dash. “As we continue to innovate and leverage our technology and data capabilities to deliver the best omnichannel experience to our customers, this latest round of investments reaffirms the importance of our vision to make every Indian feel beautiful,” noted Manish Taneja, co-founder and CEO of Purplle.com.

City Therapeutics 𝐋𝐚𝐮𝐧𝐜𝐡𝐞𝐬 𝐰𝐢𝐭𝐡 $𝟏𝟑𝟓 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 City Therapeutics is a biotechnology company focused on addressing current challenges in RNA-based treatments, such as off-target effects, stability issues, and delivery mechanisms, to unlock new levels of precision and therapeutic potential. City Therapeutics has launched, raising $135 million in Series A funding to drive innovation in RNA interference (RNAi)-based therapies through cutting-edge engineering of small interfering RNAs (siRNAs). The funding round was led by ARCH Venture Partners, with additional support from a group of life sciences investors, including Fidelity Management And Research Company, Invus, and Slate Path Capital LP. “The time to re-enter the RNAi revolution is now, and our investment in City Therapeutics is based on our conviction that RNAi therapeutics will expand as a major category of breakthrough medicines,” said Robert Nelsen arch, a managing director and co-founder of ARCH Venture Partners. City Therapeutics, Cambridge, Massachusetts, United States, was founded by Ari Nowacek, John Maraganore, Robert Nelsen, and Sebastian Trousil. With strong financial backing and an ambitious vision, the company is well-positioned to make significant contributions to the future of RNA interference therapies.

Form Energy 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟒𝟎𝟓 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 Form Energy is an energy storage technology and manufacturing company that aims to make renewable energy more reliable and cost-effective. The company's flagship product, the iron-air battery, is capable of storing electricity for up to 100 hours, providing a scalable solution for long-duration energy storage. This technology is set to revolutionize the energy grid by offering a system cost competitive with traditional power plants, enabling the seamless integration of renewable energy sources like wind and solar. Form Energy has raised $405 million in a Series F funding round led by T. Rowe Price. In total, the company has raised more than $1.2 billion to date. Form Energy, Somerville, Massachusetts, United States, was founded in 2017 by Mateo Jaramillo, Yet-Ming Chiang, Ted Wiley, Marco Ferrara, and William Woodford. “We are deeply grateful to T. Rowe Price for leading our Series F fundraising round and look forward to collaborating with them as we expand our operations to meet the surging demand for our product. We are also excited to welcome GE Vernova to our growing group of investors and extend our sincere thanks to our long-standing partners, whose continued trust and support have been crucial to our success and growth over the years,” noted Mateo Jaramillo, CEO and Co-founder of Form Energy.

EvenUp 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟏𝟑𝟓 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐧𝐝 𝐇𝐢𝐭𝐬 𝐔𝐧𝐢𝐜𝐨𝐫𝐧 𝐒𝐭𝐚𝐭𝐮𝐬 EvenUp is a legal tech startup revolutionizing case management by making it more efficient, precise, and accessible for legal professionals. With its cloud-based platform, EvenUp provides law firms with seamless, real-time access to case information from any location, enabling flexible, efficient collaboration across teams regardless of where they are based. EvenUp has raised $135 million in a Series D funding round, bringing the company’s valuation to over $1 billion. The new round was led by Bain Capital Ventures, with participation from Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group. In total, EvenUp has raised $235 million to date. EvenUp, San Francisco, California, United States, was founded in 2019 by Rami Karabibar, Raymond Mieszaniec, and Saam Mashhad. “At EvenUp, our mission is to close the justice gap through the power of technology and AI,” said co-founder and CEO Rami Karabibar. “We empower personal injury firms to deliver higher standards of representation, with the goal of ultimately helping the 20 million injury victims in the U.S. achieve fairer outcomes each year.”

Maven Clinic 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟏𝟐𝟓 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐭 𝐚 $𝟏.𝟕 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 Maven Clinic is a digital health platform that offers various services tailored to meet the specific health needs of women and families. As the demand for virtual care continues to rise, Maven Clinic's model of continuous, accessible, and specialized care is set to play a vital role in shaping health outcomes for women around the world. Maven Clinic has raised $125 million in a Series F funding round, bringing the company’s valuation to $1.7 billion. The new round was led by StepStone Group, with participation from existing investors General Catalyst, Sequoia Capital, Oak HC/FT, Icon Ventures, Dragoneer Investment Group, and Lux Capital. In total, Maven Clinic has raised more than $425 million to date. Maven Clinic, New York, New York, United States, was founded in 2014 by Kate Ryder and Suzie Grange. In 2021, the company joined the unicorn club. "Over the last 10 years, Maven Clinic has created and scaled a comprehensive virtual care model in one of the most underfunded sectors in healthcare," said Kate Ryder, founder and CEO of Maven Clinic. "The next decade is about transformation. We now have the platform breadth, depth, and data required to create the scaled change this industry so sorely needs. With each member supported, we continue to prove that to build better healthcare for everyone we must first build it for women and families."

KoBold Metals 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟒𝟗𝟏 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐭 𝐚 $𝟐 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 KoBold Metals is an AI-powered critical mineral startup paving the way for a future where critical minerals are sourced more efficiently, sustainably, and ethically. At the core of KoBold Metals' approach is its AI-powered mineral exploration platform, which uses a vast array of data sources — from geological surveys to satellite imagery — to model and predict where undiscovered mineral deposits are likely to be found. The platform integrates machine learning algorithms that analyze this data to generate high-confidence targets for exploration. KoBold Metals has raised $491 million of a targeted $527 million round, aiming for a $2 billion valuation in this latest round. The startup’s previous investors include prominent figures such as Bill Gates, Jeff Bezos, Jack Ma, Andreessen Horowitz, and Breakthrough Energy Ventures. KoBold Metals, Berkeley, California, United States, was founded in 2018 by Jeff Jurinak, Josh Goldman, and Kurt House. In 2023, the company joined the unicorn club. KoBold Metals exemplifies how technology and innovation can intersect to solve some of the world's most pressing challenges, making it a key player in the race for critical minerals and the push toward a sustainable future.