GLYNn CAPITAL NEWS

Infleqtion, the only company actively commercializing atom-based quantum systems across computing, sensing, and precision timing, announced a $100 million Series C funding round backed by new, existing, and strategic investors, including Glynn Capital, Counterpoint Global (Morgan Stanley), S32, SAIC and others. Having generated almost $30 million in revenue last year and backed by a customer pipeline topping $200 million, Infleqtion will use this investment to scale its atom-based quantum platforms and accelerate deployment of field-ready quantum systems that address today’s most demanding real-world challenges.

Learn more about Infleqtion at https://www.infleqtion.com/

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South Africa-based payments infrastructure company Stitch has announced a $55 million Series B funding round led by QED Investors, enabling the fast-growing team to deepen and expand its in-person payments offering, move into the acquiring space and further bolster its online payments suite, to better serve enterprise merchants across all payments needs. This round brings its total funding to $107 million in four years.

Learn more about Stitch at https://www.stitch.money/

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Glynn Capital is excited to welcome Yurts to our portfolio!

Yurts is a GenAI-enabled enterprise information management system that allows customers to search and query internal information across multiple systems of record and build agentic workflows; in essence, users can ‘chat’ with a company’s entire data archive using natural language queries and build a repeatable workflow around it. We are proud to partner with Yurts.

Read the full announcement here: Yurts raises $40 million to be the DoD’s AI Chatbot  | TechCrunch

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SuperAnnotate Raises $36M Series B Funding

To help enterprises with infrastructure to create high-quality AI data.

As generative AI evolves, so does the demand for better, smarter enterprise data solutions. Today's funding boosts capacity to enhance its multimodal data offerings—the building block for enterprises to build intelligent AI systems. The future of AI starts with the right data, and SuperAnnotate is here to be the data partner you can count on.

Learn more about SuperAnnotate here: https://www.superannotate.com/

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Glynn Capital is thrilled to welcome Augment Code to our portfolio!

Headquartered in Palo Alto, California, Augment Code offers solutions that help boost productivity and streamline development for their customers’ product innovation workflows.

Providing opportunities to maximize the efficiency and effectiveness of research and development spend is one of the most promising segments in AI and we believe Augment has constructed one of the more talented technical teams to address it.

Learn more about Augment Code here: https://www.augmentcode.com/

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Glynn Capital is excited to welcome QA Wolf to our portfolio!

Based in Seattle, Washington, QA Wolf is a comprehensive software testing solution designed to help teams achieve 80% end-to-end test coverage within four months. By automating the testing process, QA Wolf allows teams to focus on shipping high-quality software faster and more efficiently.

The company is primed to utilize its proprietary data stores and newly released suite of  AI functionality to further accelerate its market leading base of business.

Learn more about QA Wolf here: https://www.qawolf.com/

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We are excited to announce that Elena Deslongchamps is the newest addition to our firm and will serve as an Analyst on the Private Investments team. We are thrilled to have Elena join us at Glynn Capital!

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We are delighted to announce that Stacey Monteiro Leanos has joined Glynn Capital as a Partner – Fundraising & Investor Relations. She will focus on both private and public markets capital formation efforts. We are thrilled to have Stacey join our team!

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Celebrating Glynn Capital-backed OpenGov Inc. for this milestone! The entire team at OpenGov Inc. is on a mission to power more effective and accountable government. It will be able to make an even greater impact on the nation’s local governments with this investment from Cox Enterprises. Congrats to the entire OpenGov Inc. team!  Learn more here.

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Congratulations to Glynn Capital-backed Resident who announced that Ashley Global Retail will acquire Resident. The transaction provides Resident, a leading digital retailer and wholesaler of mattresses and bedding accessories, with an opportunity to expand its home furnishings assortment and global footprint.   Explore more here.

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Congratulations Venkat Venkataramani, Dhruba Borthakur, and the entire Rockset team on joining OpenAI! Explore more here.

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SuperAnnotate is the leading platform for building, fine-tuning, iterating, and managing AI models faster with the highest-quality training data. With advanced annotation and QA tools, data curation, automation features, native integrations, and data governance, it enables enterprises to build datasets and successful ML pipelines. Partner with SuperAnnotate’s expert and professionally managed annotation workforce that can help quickly deliver high-quality data for building top-performing models.  Explore more here.

 

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Snyk is the leader in developer security. It empowers the world’s developers to build secure applications and equip security teams to meet the demands of the digital world. Its developer-first approach ensures organizations can secure all of the critical components of its applications from code to cloud, leading to increased developer productivity, revenue growth, customer satisfaction, cost savings and an overall improved security posture.  Explore more here.

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Klaviyo, Inc. (“Klaviyo”), (NYSE: KVYO), the company that powers smarter digital relationships, today announced the pricing of its initial public offering of 19,200,000 shares of its Series A common stock at an initial public offering price of $30.00 per share. The offering consists of 11,507,693 shares of Series A common stock offered by Klaviyo and 7,692,307 shares of Series A common stock to be sold by certain of Klaviyo’s existing stockholders.

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Rockset, the search and analytics company, today announced it has raised $44 million bringing the company’s total capital raised to $105 million. The round was led by Icon Ventures, with participation from new investors Glynn Capital, Four Rivers, K5 Global, and existing investors Sequoia and Greylock. 

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John Walter Glynn, Jr., a longtime Silicon Valley venture capitalist, philanthropist, and business school lecturer from Atherton, California, and Charlottesville, Virginia, died on July 26, 2023, at Brigham and Women’s Hospital in Boston, Massachusetts.  He had been vacationing with his family in Nantucket.  He was 82.

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Glynn Capital is delighted to announce that Thomas McGannon, CFA has joined the firm as a Partner. He will focus on private and public markets investing, and lead capital formation efforts.

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Congratulations to Shannon Paolucci, who was recently promoted to a Principal on Glynn Capital’s investment team, where she focuses on venture and growth-stage private technology companies. She is based in San Francisco.

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The market for cloud native observability tools remains hot. As with so many new technologies, containerization solved a fair number of problems but also introduced its share of new ones, including a lot of added complexity that is, in part, driven by the dynamic nature of this architecture. That’s both its strength and downfall, so it’s maybe no surprise that tools for monitoring these systems are so important — and well-funded.

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