The company uses an AI-powered chatbot to allow users to access their benefitsRead more...
General Catalyst will invest the money to invest in mobile, commerce and marketplaces
General Catalyst has closed its seventh fund, to the tune of $675 million. The fund will be called General Catalyst VII, and it brings the firm's total capital raised to roughly $3 billion in its 13 year history.
The firm, which has been on the West Coast since 2010, will be using the new funding to shore up its relationship with start ups in Silicon Valley.
"Three years ago, several members of our team began a new life in Silicon Valley. We came with a singular mission — to grow General Catalyst into a unique bicoastal firm with a nationwide presence that founders could trust to be there at every stage of their journey," the firm wrote. "That focus remains resolute, despite blistering change."
The firm also announced that its, Silicon Valley team will soon be moving into a permanent location: a historical Victorian home on University Avenue in Palo Alto.
As to which areas the money be invested in, General Catalysts lists three: mobile, commerce and marketplaces.
"There are tremendous changes coming to the world. Consumer behavior is relentlessly shifting to mobile, and consumers’ usage of software is increasingly around highly-engaged experiences," General Catalyst said.
"There has never been a better time to build a technology business, from next generation commerce, marketplaces, and mobile apps to software-defined infrastructure, security, and enterprise software-as-a-service."
Founded in 2000, General Catalyst Partner has offices in Cambridge, Massachusetts and Palo Alto, California. The firm has invested in company such as Airbnb, Big Fish Games, HubSpot, Warby Parker, BigCommerce, and Datalogix,
Some of the firm's other recent investments include: leading a $6.7 million Series A in CoachUp, which helps connect athletes with private coaches; participating in a $4.5 million Series A for organization app Mustbin; participation in a $25 million funding round for The Honest Company; participation in a $7 million round for CyPhy Works, a developer of advanced Unmanned Aerial Vehicles; and leading a $9 million round in digital currency company Circle Internet Financial.
Last December, General Catalyst launched a student-run fund in Boston called Rough Draft Venture.
Venture capital funds
Despite the overwhelming consensus that there is a Series A crunch going on, the state of venture capital is stronger than it has been in a while, it seems.
In the third quarter of 2013, 62 venture firms raised funds, the highest number of funds raised since the fourth quarter of 2008, when limited partners plunked down $7.1 billion across 69 funds.
Meanwhile, the amount of money invested in the third quarter was $8.1 billion, the highest since second quarter of 2012.
As for who was the most active VC firm, It was Google Ventures, with 23 total investments in the quarter. In all, Google Ventures recently announced that it invested in 75 new companies this year, and saw nine exits.
(Image source: https://www.generalcatalyst.com)
Read more from our "Trends and news" series
The partnership will give Skedulo's customers access to EHR systems to better take care of patientsRead more...
The company also announced the launch of its Maven Wallet payments productRead more...
Related Companies, Investors, and Entrepreneurs
Joined Vator on
HubSpot is an inbound marketing system that helps your company get found online, generate more inbound prospects and convert a higher percentage of them into leads and customers. HubSpot helps companies get found by more prospects using search engine optimization and marketing, leveraging blogs and the blogosphere and engaging in online social media. By using landing pages, lead intelligence and marketing analytics, HubSpot customers convert more prospects into leads and customers. Based in Cambridge MA, HubSpot Internet marketing can be found at www.HubSpot.com and the Website Grader free SEO tool is available at www.WebsiteGrader.com.
Joined Vator on
Founded in 2002, Big Fish is the leading online marketplace for premium casual games. Through its proprietary, data driven platform, millions of consumers seeking immersive, relaxing entertainment easily discover and purchase premium casual games created by Big Fish’s network of more than 500 development partners and in-house by Big Fish Games Studios. Renowned for offering A New Game Every Day!® on www.bigfishgames.com, the company offers thousands of games on multiple platforms -- PC, Mac, mobile phone, and tablet. Big Fish’s websites, games, and customer service are available in ten languages – Danish, Dutch, English, German, French, Italian, Japanese, Brazilian Portuguese, Spanish and Swedish – and its games are sold in more than 150 countries. The company is headquartered in Seattle, WA, with regional offices in Oakland, CA; Vancouver, Canada; Cork, Ireland; and Luxembourg.
Joined Vator on
Airbnb.com is the “Ebay of space.” The online marketplace allows anyone from private residents to commercial properties to rent out their extra space. The reputation-based site allows for user reviews, verification, and online transactions, for which Airbnb takes a commission. As of June, 2009, the San Francisco-based company has listings in over 1062 cities in 76 countries.