Relyance AI raises $32.1M to enhance data governance, aiming to double its ARR in 2024 amid rising AI regulation concerns.

Relyance AI Raises $32 Million Series B Funding to Safeguard AI Innovation in the Enterprise

Elon Musk's xAI intensifies rivalry with Sam Altman's OpenAI, aiming to surpass them in advancements and funding.

Elon Musk’s xAI goes after Sam Altman’s OpenAI

VCs are breaking tradition by backing multiple competing LLMs like OpenAI and Anthropic, sparking debate.

VCs are 'hedging their bets,' backing competing LLMs like Anthropic and OpenAI, breaking a long-standing venture taboo

Cybersecurity funding drops 51% in Q3; fewer big rounds but investors remain optimistic about the sector.

Interest rate hikes may have curtailed venture exits, but declining rates may boost opportunities in 2025 and beyond.

Interest Rates and the Search for Liquidity in Venture Capital

Startups tackle AI security risks as companies adopt AI--focusing on data protection, compliance, and attacks.

Security threats to AI models are giving rise to a new crop of startups

Thomvest led a $32M round in Relyance AI, deepening its AI investments amid a booming $990B AI market by 2027.

Scion of Canada’s Richest Family Looks to Deepen AI Bets

Board observers offer expertise, networks, and training value but can risk confidentiality, influence, and efficiency.

Are Board Observers A Good Idea For A Startup?

Cerebras files for IPO following revenue growth, yet its reliance on one customer raises concerns.

Cerebras could restart a stagnant IPO market, but clear risks abound

AI startups face down rounds as inflated valuations start to decline. Many are now seek acquihires and secondary sales to raise funds.

AI startups should brace for a wave of down rounds, investors say. Here's how it might play out.

Understanding how climate change, reinsurance market dynamics, and regulatory challenges affect insurance premiums

The Perfect Storm: Understanding the Current State of Home Insurance

StackGen, rebranded from appCD, raised $12.3M to revolutionize cloud infrastructure with its "Infrastructure from Code" platform.

How Infrastructure From Code Is Transforming DevOps And SecOps

AI advances beyond transformers with new models like SSMs, but enterprise adoption faces challenges

Is the next frontier in generative AI transforming transformers?

Nvidia's acquisition spree in 2024 continues amid increasing regulatory scrutiny, on track for four deals so far.

Nvidia is on an acquisition spree even as regulatory scrutiny heats up and AI M&A cools

Tech stocks plunged as AI doubts rose, yet AI venture funding still hit a five-quarter high

Markets Swirl on AI Promises...David Sacks & Parker Conrad Spar on X...A Look Back at Iconiq

AI startup Cohere, valued at $5.5B, customizes language models for businesses, securing $500M in Series D funding

AI Startup Cohere Valued at $5.5 Billion in New Funding Round

StackGen, formerly AppCD, rebrands after raising $12.3M to automate infrastructure-from-code, aiming to boost DevOps productivity

Generative infrastructure-from-code startup AppCD rebrands as StackGen after raising $12.3M

StackGen (formerly appCD) raises $12.3M in seed funding to enhance infrastructure with AI-driven code automation

appCD Rebrands as StackGen, Revolutionizing IaC with $12.3M in Funding

VCs remain optimistic despite recession fears, emphasizing a focus on long-term strategies

VCs are unfazed by recession jitters—here’s why

AMD acquires ZT Systems for $4.9B to boost AI data center capabilities and compete with Nvidia in AI

AMD’s ZT acquisition marks a new chapter in the chip maker’s chase of Nvidia

Celebrating Cisco's acquisition of Isovalent, Thomvest cherishes the journey and wishes the team continued success

Umesh Padval and Ashish Kakran discuss the intersection of investing and AI

AI security gold rush: VCs seek ‘real AI rather than marketing AI’

The media buzz around Large Language Models (LLMs) like GPT-4 and GPT-5 is undeniable, but the market dynamics are more nuanced than headlines suggest.

Debunking common market misconceptions about LLMs

Cisco Completes Acquisition of Isovalent to Define the Future of Multicloud Networking and Security

Investors are souring on OpenAI’s nonprofit governance model

Investors Are Souring on OpenAI’s Nonprofit Governance Model

An Exciting Journey with the Newest Unicorn, Clari!

Thomvest Turns 25: Reflections on the Road Less Travelled in Venture

Thomvest Ventures Invests in Harness, the DevOps Automation Leader

Capchase and the Evolution of Enterprise Lending

When Will Valuations Bottom Out? Lessons From Past Downturns

Thomvest Invests in Isovalent: Transforming Cloud Networking, Security and Observability

Venture funding for cybersecurity startups in Q3 showed a slight increase compared to Q2 but remained down 30% YoY

Cybersecurity Funding Sees Slight Bounce Back From Q2, But Still Down From 2022

Padval believes Meta wants all the benefits of open source for their business while keeping the competition away

Meta’s Unique Approach to Developing AI puzzles Wall Street, but Techies Love It

Nvidia's CEO is pushing his company into software and cloud services, competing with customers and leading to a standoff with Microsoft

Nvidia’s Jensen Huang Is on Top of the World. So Why Is He Worried?

Investors are growing increasingly weary of AI

Nima Wedlake shares our latest areas of interest within real estate technology at Thomvest

Real Estate Tech Themes We’re Tracking in 2024

Behind the Surge: Exploring the Factors Driving Mortgage Rates & Housing Demand

Dave Hafford discusses the history of fixed-income markets and the potential opportunity for new entrants providing software to better facilitate trading.

Fixing Fixed-Income: The Case for Better Trading Tools

Venture funding for cybersecurity startups surged 144% year-over-year in Q2, with $4.4 billion invested in 153 deals, driven by significant nine-figure rounds.

AI startup founders discuss what it's like to be a part of Nvidia's sprawling startup empire

Team leaders balance business growth, diverse teams, hybrid work, feedback, EQ, CQ, and drama-free culture.

Mastering Modern Leadership: Top Principles for Effective Team Leaders

AI Startups Have Plenty of Cash. They Often Don’t Yet Have a Business.

Nvidia's AI chip dominance may be challenged by Cerebras Systems' IPO, testing Nvidia's CUDA software.

Nvidia's Moat will be Tested by a Potential AI Chip IPO

Thomvest's Ashish Kakran named one of the 66 rising stars of VC by Business Insider

Meet the 66 rising stars of venture capital, who shook up the industry in 2023

Generative AI: a new gold rush for software engineering innovation

Nvidia’s Supercharged Investment Strategy Is About More Than Returns

Philosophy of Jensen Huang extends beyond the bounds of the present

Nvidia’s Stunning Ascent Has Also Made It a Giant Target

Ashish Kakran named one of VC's rising stars

Cisco to acquire Thomvest portfolio company, Isovalent.

Thomvest Ventures announces seed investment in appCD

Thomvest invests in AppCD: the future of cloud infrastructure automation

deep-dive on housing affordability, mortgage activity, supply and demand dynamics, and loan performance

2023 Thomvest Housing Report: How Have Rising Rates Impacted Supply, Demand & Affordability?

Decoding Finance Team Structures at the Series C Milestone

Though we are still in the early stages of its widespread adoption, there has been a major inflection point in the evolution of generative AI

The AI Revolution: Transforming Employment and Securing U.S. Global Competitiveness

The cloud infrastructure and cybersecurity industries have demonstrated relatively strong performance compared to other sectors.

4 Key Cloud Infrastructure Trends to Watch in 2023

In this post I’ll dig into the company’s financials, product ambitions and valuation expectations as a public company.

In the venture capital world, we find ourselves navigating a peculiar period labeled as the Schrödinger’s Valuation Period. 

Reading Between the Quartiles — Q1 2023 Valuations

We’re excited to announce our investment in Willow Servicing, a mortgage servicing software platform

We're excited to share our first SFR Technology Market Map which highlights many of the companies building across every segment of the SFR ownership lifecycle.

Market Map: The Emerging Technology Opportunity in Single-Family Rentals

We are thrilled to announce our Series C investment in Cohere, a leader in generative AI for enterprises. 

Thomvest Ventures Announces Series C Investment in Cohere, a Leader in Generative AI for Enterprise Solutions

Compass, a technology-enabled real estate brokerage, filed its S-1 in early March

The startup and venture capital sphere has turned its attention to self-examination

CFOs Bank on Ingenuity: Steering Startups Through SVB’s Aftershocks

The company brings to life what Gartner calls External Attack Surface Management

This market map includes more than 220 technology companies operating across every aspect of commercial real estate

Market Map: 220+ Technology Companies Reshaping Commercial Real Estate

Thomvest doubles down on the intersection of cloud infrastructure and security

East-west security beyond the firewall — our investment in ShieldX

Thomvest is thrilled to announce our Series A investment in Opaque Systems, the company behind open source MC2

Thomvest invests in Opaque Systems — from friendship to company-building

Over time, we believe that AI will revolutionize the way we interact with technology across several industries

Startups Building at the Intersection of Real Estate and AI

Opendoor, the nation’s largest iBuyer, is going public. It is doing so via a merger with Social Capital Hedosophia Corp II (NYSE: IPOB)

There are three different core roles that are involved in ML modeling but each one has different motivations and incentives...

MLOps is accelerating enterprise AI adoption

In the wake of lending 1.0, fintech is dominating private capital markets.

Here are our six predictions for what we are expecting to unfold throughout the course of 2023

Predictions for 2023, a Pivotal Year In Tech

Engineers at fast-paced startups often wear both dev and DevOps hats

To better understand the tax technology space, we spoke with corporate tax software executives, startups building disruptive solutions...

Tax Tech Tango: Balancing Innovation, Optimization, and Compliance

The right finance tools lay the foundation for the company and ultimately drive efficiency and improved insights

Early Stage SaaS CFO-Tech Stack Starter Pack

ShiftLeft provides a new breed of holistic application security unlike anything we’ve seen before, amalgamating code analysispre-deployment

Thomvest Ventures leads the $20m Series B in next-gen AppSec leader ShiftLeft

Half of the customers looking to sign up for FP&A tech are shifting away from Excel

Evaluating FP&A Tools? Here's a Breakdown of the Landscape

DistillerSR is the market leader in AI-enabled literature review automation software. Used by more than 300 of the world’s leading research orgs.

Relyance AI is the new standard for organizations’ trust and data governance infrastructure. Relyance AI is the only platform providing real-time visibility into how and where data is being used compared to customer agreements, global privacy regulations, and compliance frameworks.

Relyance AI is the only platform providing real-time visibility into how and where data is being used compared to customer agreements, global privacy regulations, and compliance frameworks.

StackGen generates Infrastructure from Code automatically based on application code with golden standards applied. IaC is standardized by default when created to ensure consistency, security and policy are built-in (not scanned after creation). Applications are provisioned with least-privileged access controls.

StackGen provides the only Generative Infrastructure from Code solution. It auto-generates secure and compliant IaC from the application code without requiring source code changes.

Harness is the industry’s first Software Delivery Platform to use AI to simplify your DevOps processes - CI, CD & GitOps, Feature Flags, Cloud Costs, and much more. It is the only end-to-end platform for intelligent software delivery designed to provide a simple, safe, and secure way for engineering and DevOps teams to release applications into production. 

Harness is the industry’s first Software Delivery Platform to use AI to simplify your DevOps processes - CI, CD & GitOps, Feature Flags, Cloud Costs, and much more.

Avalanche Technology is the world leader in Spin Transfer Torque Magnetic RAM (STT-MRAM) non-volatile memory, leveraging perpendicular magnetic tunnel junction (pMTJ) cell structure. Backed by over 270 granted patents around the cell, circuit, and system design leveraging MRAM, the technology and products provide breakthrough speeds, unlimited endurance, and non-volatility while reducing power and cost.

Avalanche provides technology and products with breakthrough speeds, unlimited endurance, and non-volatility, while reducing power and cost.

FlashSoft offered an all-software solution that enabled enterprise users to utilize any standard SSD as a high-performance memory cache in the server to economically increase application performance and scalability. The company was acquired by SanDisk (NASDAQ: SNDK) in February 2012.

FlashSoft offered an all-software solution that enabled enterprise users to utilize any standard SSD as a high-performance memory cache in the server. Acquired by SanDisk.

Quid delivers the social intelligence that global brands and agencies use to publish, monitor, analyze, and engage with customers in real time. Using a high-precision natural language processing (NLP) engine, their platform processes billions of social media posts to extract structured insights via customizable dashboards.

Quid delivers social intelligence used by global brands and agencies. Their platform uses natural-language processing to analyze social posts and build insights.

Baffle is pioneering a solution that makes data breaches irrelevant by keeping data encrypted from production through processing.

Unqork is a no-code application platform that helps large enterprises build complex custom software faster, with higher quality, and lower costs than conventional approaches.

Unqork is a no-code application platform that helps large enterprises build complex custom software faster.

Ecobee, Inc. delivers energy conservation solutions. The company offers ecobee Smart Thermostat, a digital programmable thermostat that helps in customizing temperature settings.

ecobee, Inc. delivers energy conservation solutions, and offers a digital programmable thermostat that helps in customizing temperature settings.

Clari helps optimize your entire revenue process. With Clari’s AI platform, sales reps know where to focus, managers can immediately spot risk in the pipeline, and execs forecast with confidence. In any environment, Clari's Revenue Platform automatically gathers data from your entire organization—everything from emails and meetings to outbound marketing and conversations. Then they apply AI to synthesize that data into the real-time status and actionable insights. The result? Superior alignment and execution that generate predictable revenue, quarter after quarter, year after year.

Clari's Revenue Platform automatically gathers data across organizations and synthesizes it with AI to identify actionable insights and execution strategies.

Cotendo was a leading content distribution network (CDN) specializing in accelerating mobile websites. The company was acquired by Akamai Technologies (NASDAQ: AKAM) for over $250 million in December 2011.

Cotendo was a leading content distribution network (CDN) specializing in accelerating mobile websites. The company was acquired by Akamai Technologies in December 2011.

Isovalent is passionate about networking, security, and observability, and is the company behind the open-source Cilium and eBPF projects. Isovalent helps customers connect, secure, and observe cloud-native applications in multi-cluster, multi-cloud environments. Isovalent was purchased by Cisco in 2024.

Isovalent helps customers connect, secure, and observe cloud-native applications in multi-cluster, multi-cloud environments.

Zendrive leverages mobile sensor data to provide actionable insights that improve safety for passengers and drivers worldwide.

Coast is the developer of a card payment platform designed to make fleet and gasoline payments easier for commercial fleet operators. The company's platform provides payment integration solutions to fleets, making fleet administration easier than traditional financial services.

Coast is a Visa fleet fuel and gas card plus expense management solution that helps fleets control and track employee spending on fuel and other expenses.

Telivy allows Managed Service Providers to automate their clients' cybersecurity risk assessments and reduce over 80% of SecOps workload.

Tallied is an operating system for modern credit card programs. Tallied provides a fully integrated, single infrastructure and program management solution for both consumer and commercial credit card programs providing brands, fintechs, and marketplaces with advanced and secure credit card launching and building tools.

Tallied provides end to end infrastructure for building, launching and scaling consumer and corporate credit card programs.

Capchase is a platform for recurring-revenue companies to secure non-dilutive capital. Founded in 2020, the company provides financing by bringing future expected cash flows to the present day – thereby extending an immediate line of credit. 

Capchase is a platform for recurring-revenue companies to secure non-dilutive capital. Capchase is able to extend an immediate line of credit.

Baselane is an all-in-one banking and financial platform for individual real estate investors and landlords, designed to help them save time, increase returns, and automate their finances. Baselane offers banking, bookkeeping, rent collection, analytics, and more, in one simplified platform.

Baselane is an all-in-one banking and financial platform, offering banking, bookkeeping, rent collection, analytics, and more, in one simplified platform.

Tala offers a modern credit solution for the mobile world. Tala’s app for Android underwrites customers in real-time using alternative data and delivers fast, affordable credit for customers in emerging markets.

Tala’s credit and banking app underwrites customers in real-time using alternative data and delivers fast, affordable credit for customers in emerging markets.

Alsym is working to ensure that the future of energy will be cleaner, safer, and more affordable for people around the world by developing cutting-edge non-flammable, high-performance rechargeable battery chemistry that’s free of lithium, cobalt and ideal for a range of stationary storage use cases, including utility grids, home storage, microgrids, industrial applications, and more.

Alsym is working to ensure that the future of energy will be cleaner, safer, and more affordable by developing cutting-edge rechargeable battery technology.

Carbon Engineering is a Canadian-based clean energy company leading the commercialization of groundbreaking technology that captures CO₂ directly from the atmosphere and a second technology that synthesizes it into clean, affordable transportation fuels.

Carbon Engineering is a Canadian-based clean energy company leading the commercialization of technology that captures and synthesizes atmospheric CO₂.

Opaque leverages a novel combination of two critical technologies layered on cloud security—secure hardware enclaves and cryptographic fortification. This combination ensures the overall computation is safe, fast, and scalable. Opaque’s confidential AI platform enables collaborative, scalable analytics on encrypted data while protecting data end-to-end and enabling organizations to comply with legal and regulatory mandates.

Opaque leverages a novel combination of two critical technologies layered on cloud security—secure hardware enclaves and cryptographic fortification.

Maxwell was founded in 2015 by homebuyers who believed a better mortgage process was possible for lenders and borrowers. The founding team set out to build solutions to help lenders gain efficiency, streamline their processes, and focus on high-value work to grow their businesses. They channel mortgage and technology expertise to help small and midsize lending teams thrive.

Maxwell channels mortgage and technology expertise to help small and midsize lending teams thrive.

Social Finance (SoFi) is a finance company that offers a range of lending and wealth management services. The company primarily caters to early-stage professionals and offers variable and fixed-rate parent, personal, and MBA loans, mortgage refinancing, and more. SoFi went public (NASDAQ: SOFI) in June 2021. 

Social Finance (SoFi) is a finance company that offers a range of lending and wealth management services - primarily catered to early-stage professionals.

Obie offers property and casualty insurance specifically designed for landlords and rental property investors. Whether a seasoned investor or just starting out, Obie makes requesting a quote and getting coverage simple and transparent.

Obie offers property and casualty insurance specifically designed for landlords and rental property investors.

LoanSnap has developed a platform to make mortgage originations faster and easier for borrowers and loan officers. The company developed the world’s first smart loan technology that uses artificial intelligence to analyze a person’s entire financial picture and shows simple ways to benefit from a more innovative loan now and into the future.

LoanSnap developed the world’s first smart loan technology that uses artificial intelligence to analyze a person’s entire financial picture.

Nexabit developed novel switches that can route up to trillions of bits of digital information a second. The company was acquired by Lucent Technologies (NYSE: ALU) for approximately $900 million in June 1999.

Nexabit developed novel switches that can route up to trillions of bits of digital information a second. The company was acquired by Lucent Technologies in June 1999.

Milyoni, Inc. was the leader in social video for entertainment companies, brands, and artists all over the globe. Milyoni’s Social Video Platform presented a highly differentiated video experience with the power to extend audience reach and the analytics to measure success. Photobucket acquired the company in April 2015. 

Milyoni’s Social Video Platform presented a highly differentiated video experience with the power to extend audience reach and the analytics to measure success.

Ocrolus is a document automation platform that powers the digital lending ecosystem, automating credit decisions across fintech, mortgage, and banking. Ocrolus enables financial services firms to make high-quality decisions with trusted data and unparalleled efficiency.

Ocrolus is a document automation platform that powers the digital lending ecosystem, automating credit decisions across fintech, mortgage, and banking.

Ladder combines innovative technology with world-class financial and insurance expertise to make it easy for anyone to access life insurance.

CyCognito empowers companies to take complete control over their attack surface by uncovering and eliminating critical security risks they didn’t even know existed.CyCognito is solving one of the most fundamental business problems in cybersecurity: understanding how attackers view your organization, where they are most likely to break in, and how you can efficiently analyze, monitor and eliminate that risk.

CyCognito empowers companies to take complete control over their attack surface by uncovering and eliminating critical security risks they didn’t even know existed.

Glide provides Realtors with a modern online transaction experience that delights clients and keeps deals on track, making it easy to track progress, automate paperwork, integrate with service providers, and close more deals. The company was acquired by Compass (NYSE: COMP) in April 2021.

Glide provides Realtors with a modern online transaction experience that delights clients and keeps deals on track, making it easy to close more deals.

Certicom was a leading provider of information security software and services for wireless security. Certicom went public on the Toronto Stock Exchange in December 1995 and was acquired by Research in Motion in early 2009.

Certicom was a leading provider of information security software and services for wireless security. Certicom was acquired by Research in Motion in early 2009.

Powered by the world’s largest Wi-Fi network, iPass’ global Wi-Fi service offered simple, secure, always-on intelligent connectivity for any mobile device. The company went public (NASDAQ: IPAS) in August 2003.

iPass’ global Wi-Fi service offered simple, secure, always-on intelligent connectivity for any mobile device. The company went public (NASDAQ: IPAS) in August 2003.

Public Mobile was a Canadian wireless entrant that received its license to provide talk and text services to 19 million Canadians across Ontario and Quebec, commencing in the fourth quarter of 2009. The company was acquired by another leading Canadian wireless provider, TELUS Corporation (NYSE: TU), in October 2013.

Public Mobile was a Canadian wireless entrant that received license to provide talk and text to 19 million Canadians. Acquired by another leading Canadian wireless provider.

Neo Financial is a Canadian financial technology company that provides spending, savings, and rewards programs. Founded in 2019 by the co-founders of SkipTheDishes, Neo uses technology to simplify finances and create rewarding experiences for all Canadians.

Neo Financial is a Canadian financial technology company providing spending, savings, and rewards programs.

Cohere is the pioneer of large language models. It provides natural language processing models for businesses and developers to search and explore information in a new, intuitive way. Cohere’s cutting-edge large language models are built on Transformer architecture and trained on supercomputers, providing NLP solutions that don’t need expensive ML development. The platform enables developers to build intelligent systems that can read, summarize and translate texts and predict future events. It allows users to upload their own data and build custom models, providing a tailored experience for specific use cases.

Cohere: Empowering businesses & developers with a novel NLP platform to explore, read, summarize, and translate text, as well predict events intelligently.

Pine is a digital direct-to-consumer mortgage originator that streamlines the traditionally complex process and puts savings back in Canadians’ pockets.

Covalto is a leading digital banking and services platform for SMEs in Mexico. The company provides a one-stop solution by bringing together a multi-product credit offering, banking services, and a full suite of business analytics tools.

Covalto: Mexico's top SME digital banking platform. One-stop solution with credit, banking services, and powerful business analytics.

Plum combines AI and Industrial/Organizational Psychology to help companies hire, grow, and retain top talent.

Willow Servicing was founded in 2021 with the vision of modernizing the core technology that orchestrates the collection of $18 trillion of US mortgage debt. Willow’s cloud-based mortgage servicing platform automates routine servicing tasks and compliance, allowing small and large servicers to efficiently service loans in-house.

Willow’s cloud-based mortgage servicing platform automates routine servicing tasks and compliance, allowing servicers to efficiently service loans in-house.

Our latest proptech writings

What's new in proptech

Our proptech team

Our proptech portfolio

Follow us on social media for updates, invites to events, and original research