Perspectives

White-hot payments startup Stripe has closed a $20 million Series B round of financing led by General Catalyst.

Stripe Climate is the internet payment company’s audacious bet to create a market for ambitious carbon-removal technologies and help save the planet.

Ro, an online health-care startup, said Monday that it raised $200 million in a new funding round, bringing its total raised to $376 million.

At General Catalyst, which was founded in Massachusetts and has been building its Silicon Valley presence, Mr. Nishar will both invest in start-ups and help the firm build its own companies. In addition to Airbnb, General Catalyst was an early investor in Warby Parker and helped build the travel search engine Kayak. The firm was also one of the earliest investors in Stripe, the financial technology firm that raised private funding earlier this year at a $95 billion valuation. Stripe’s I.P.O. is widely expected to be among the largest in history.

Former Merck CEO Ken Frazier, famous for building the drugmaker into one of the world’s biggest cancer companies, shed his pharma garb in his first public appearance since starting a new role with the venture capital giant General Catalyst.

HCA sells its PatientKeeper business to General Catalyst-backed Commure in the partnership’s first deal

Multiverse, an education technology company co-founded by the oldest son of former British Prime Minister Tony Blair, has raised $130 million on a bet that apprenticeships can help level the economic playing field.

Melio Payments is tripling its valuation in a new funding round that will value the financial software company at $4 billion, according to three people with direct knowledge of the deal. Thrive Capital, the New York–based investment firm founded by Josh Kushner, and existing backer General Catalyst are co-leading the financing, one of the people said.

Ken Chenault, former head of American Express, and Ken Frazier, head of Merck, have helped lead the campaign to get companies involved

Ken Frazier stepped down as Merck’s C.E.O. last month, but he has kept busy since. He remains executive chairman of the pharmaceutical giant and is co-leading OneTen, a start-up that aims to create one million jobs for Black Americans. Now, DealBook is first to report, he’s adding another role: venture capitalist.

How our corporate leaders act now is critical to beating the coronavirus.

Putting the patient in charge and removing healthcare delivery from the byzantine health insurance structure means they have different expectations, says Hemant Taneja, managing partner at General Catalyst. “When consumers are spending out of their own pocket, they are sort of treating it just like any other e-commerce purchase,” he says. “They care about the consumer experience. They care about value.”

General Catalyst managing partner Hemant Taneja has $600 million to invest in health startups.

Healthcare startup Transcarent just raised $58 million from investors including General Catalyst.

Jefferson Health on Monday announced an innovation partnership with General Catalyst, under which the not-for-profit health system will be able to tap into a set of technology companies to support its digital transformation efforts.

The latest evidence: today venture firm General Catalyst announced that it has raised $2.3 billion to spread across three new funds. Managing Director Hemant Taneja told FORBES that GC is creating three new funds: a $600 million early-stage fund, a $1 billion growth fund for companies with $10 million-plus in annual revenue, and a $700 million "endurance fund" to back large companies doing more than $100 million in sales. General Catalyst already has a stake in such late-stage companies like Airbnb, Stripe, and Gusto.

General Catalyst Managing Director Holly Maloney, who led Ribbon’s series B investment, agrees. “Their [Ribbon Health’s] ambition and vision to create a better healthcare system for patients, providers, payers, and really the entire ecosystem is a thesis that we're excited to get behind. One of the most important trends that we’re investing in is enabling the shift toward value-based care. Platforms like Ribbon are becoming critical because they ensure that patients receive the best care from a provider that has the right combination of quality and cost, ” said Maloney.

Two and a half years ago, Jain stepped away from Rubrik to focus on that challenge—developing an enterprise search engine in secret. His new company, Glean, emerged from stealth Wednesday with an assistive search tool that pulls together information from dozens of disparate applications, cofounded by a group of Google veterans—its CEO, Jain, Piyush Prahladka and Tony Gentilcore—and T.R. Vishwanath, a veteran of Facebook’s News Feed ranking algorithm. Already, Glean has raised $55 million across two rounds of venture funding from firms that include Kleiner Perkins, General Catalyst and Lightspeed Venture Partners.

It’s a strategy that has attracted top investors ever since the company was incubated out of Google-backed Sidewalk Labs in 2017, including General Catalyst, Maverick Ventures, Thrive Capital, Redpoint Ventures and Wellington Management. On Monday, Cityblock announced it raised a $192 million Series C extension led by Tiger Global Management on top of the $160 million it had already raised in December, which had valued the company at over $1 billion. The company declined to disclose its new valuation.

Osmind, a public benefit corporation that makes software for electronic mental health records for clinicians and researchers, announced Thursday that it has raised $15 million in a Series A funding round. Investors in the round include Future Ventures, General Catalyst, Tiger Global, Offline Ventures and AME Cloud Ventures as well as others.

Now Gusto is aiming to leverage its growth to prepare for an initial public offering. Reeves tells Forbes that Gusto closed on a $175 million funding round in recent weeks, minting the company with a new $9.5 billion valuation and making it one of the most valuable private companies in the HR and payroll software space. Led by T. Rowe Price, Gusto’s existing investors also joined the round, including Fidelity, Franklin Templeton, Generation and General Catalyst.

Fivetran announced on Tuesday that it raised $100 million in a Series C funding round from Silicon Valley investment heavyweights Andreessen Horowitz and General Catalyst and previous investors CEAS Investments and Matrix Partners. The funding values Fivetran at $1.2 billion.

With Baron as COO and CSO and Diamond as CEO, in 2019 the two closed a $9 million seed round from TQ Ventures, General Catalyst and Ashton Kutcher, propelling their pre-revenue company to a $40 million valuation. After Diamond won a Thiel Fellowship in 2020, the two dropped out of college to build Saturn into what they say will be the next Facebook.

This morning Clara, a corporate spend-management startup focused on the Latin American market, announced its product launch and a $3.5 million pre-seed round led by General Catalyst.

Reflecting on the first anniversary of 2020’s racial justice protests, venture capitalist and executive Ken Chenault says that the key “is going to be what happens in year two.”

A group of Oscar Health alums aims to create tech to tame the chaos of healthcare-provider data.

General Catalyst managing director Holly Maloney invests in health and wellness startups for the Boston-based venture capital firm.

Commure is a data platform that health systems can use to build new things in a common technology language, which, among other things, can help patients move from provider to provider without issues. It was cofounded by investor Hemant Taneja, a managing partner at General Catalyst, which incubated the startup.

Ken Chenault, Chairman & Managing Director, General Catalyst talks to Bloomberg’s David Westin at the Bloomberg Equality Summit about responsible business innovation and the OneTen initiative to provide one million jobs to Black Americans.

Hallow, a Catholic-centric prayer and meditation app, raised $12 million in funding, a sign of confidence that interest in religious-based technology will continue even as churches begin to reopen.

The company’s latest funding round follows Grammarly’s previous one in October 2019, when it raised $90 million at a valuation of over $1 billion. This round was led by General Catalyst, which had also helped lead its only other round, for $110 million in May 2017, with participation from previous investor IVP and other unnamed backers.

Venture capital firm General Catalyst has hired Paul Kwan from Morgan Stanley, where he was head of West Coast technology investment banking.

Today, the company announced a $25 million Series A round, led by General Catalyst and Tiger Global, with additional strategic investors, including Warby Parker founders Neil Blumenthal and Dave Gilboa, Harry’s founder Jeff Raider and Allbirds founder Joey Zwillinger. This latest round adds to $7 million the company raised in seed funding earlier this year.

Until now General Catalyst has been better known as a U.S. VC that makes occasional forays into European territory. But that changes with the news today that Chris Bischoff, an experienced London-based investor, joins as managing director of its new London office.

Menlo Security, a malware and phishing prevention startup, announced a $100 million Series E today on an $800 million valuation. The round was led by Vista Equity Partners with help from Neuberger Berman, General Catalyst, JP Morgan and other unnamed existing investors. The company has now raised approximately $250 million.

With all that growth and excitement, the company is attracting investor attention. Today, the company announced that it raised $18.5 million of Series A financing led by Trevor Oelschig of General Catalyst, who has led other enterprise SaaS deals into startups like Fivetran, Contentful and Loom. That round closed at the end of last year.

I’ve written here before about the OneTen initiative, a coalition of companies pulled together by former American Express CEO Ken Chenault and former Merck CEO Ken Frazier to upskill and hire one million Black Americans into good jobs over the next decade. Today, the group is announcing a partnership with Guild Education, to help with the upskilling piece.

But after leaving Uber, he wasn’t necessarily interested in working at another business… at least, not until he spent an afternoon in the spring of 2019 with an old friend, General Catalyst managing director Hemant Taneja, walking in San Francisco’s South Park neighborhood and hearing Taneja talk about a new startup called Mindstrong Health.

This morning Tempo announced a healthy $60 million Series B, led by Norwest Venture Partners and General Catalyst, along with a repeat investors Founders Fund, Signal Fire, DCM, Y Combinator and Bling Capital.

This week, Extra Crunch hosted a call with General Catalyst managing director Niko Bonatsos to discuss a number of startup topics, including what the novel coronavirus is doing to investing in the Valley, as well as his thoughts on robotics, homeschooling, edtech, SMBs, international investing and what he’s looking to see today in startups. Joining me on the live call was my fellow Equity host Alex Wilhelm and a couple of dozen EC members.

In case you haven’t heard, VCs are loving on workplace software as of late, and productivity tools that help teams collaborate seem to be a particular frothy area of investment. A smattering of top VC firms and angels, including General Catalyst, First Round Capital, Bloomberg Beta, Biz Stone and Ellen Pao, are throwing their confidence behind a new productivity startup called Range.

They led an investment in TripleBlind, a Kansas City-based startup looking to support collaboration between healthcare companies without the need to share raw data.

It’s always been challenging to launch new ventures inside an existing business. One way internal startups can overcome some of the disadvantages they face is by seeking out external funding from venture capital firms — a model we call a venture buyout, or VBO.

Venture capitalists love disruptive startups that can scale quickly and keep regulators at bay. But as society becomes more aware of the unintended consequences of new enterprises, especially ones that create technology that becomes a part of our daily life, the people who launch these ventures must become more attentive to and proactive about identifying potential unintended consequences, in order to mitigate them early.

General Catalyst Managing Director Holly Maloney, who led Ribbon’s series B investment, agrees. “Their [Ribbon Health’s] ambition and vision to create a better healthcare system for patients, providers, payers, and really the entire ecosystem is a thesis that we're excited to get behind. One of the most important trends that we’re investing in is enabling the shift toward value-based care. Platforms like Ribbon are becoming critical because they ensure that patients receive the best care from a provider that has the right combination of quality and cost, ” said Maloney.

The company’s latest funding round follows Grammarly’s previous one in October 2019, when it raised $90 million at a valuation of over $1 billion. This round was led by General Catalyst, which had also helped lead its only other round, for $110 million in May 2017, with participation from previous investor IVP and other unnamed backers.

In recent years, large corporations have embraced stakeholder capitalism—the notion the purpose of a corporation is to serve employees, customers, suppliers, and communities, in addition to shareholders—and some large public stock holders are factoring environmental, social, and governance (ESG) metrics into investing decisions.

The organization has created a format for evaluating the technology, which is often used to screen job candidates.

General Catalyst's Holly Maloney says more providers will focus on the combination of mental and physical healthcare in 2022

Quentin is interested in the platforms and applications that can unlock creativity and collaboration among teams and fuel healthier, more inclusive cultures.

General Catalyst is collaborating with WellSpan Health, marking the venture capital firm’s fourth digital innovation partnership with a health system.

General Catalyst, the venture capital firm that has been collaborating with hospitals on digital innovation, is partnering with its first health system outside the U.S., according to a news release shared with Becker's.

Billionaire brothers John and Patrick Collison built Stripe into one of the world’s most-hyped, highest valued — and profitable! — startups, worth some $95 billion. Now they must stave off going from disruptor to disrupted.

Boston's Route 128 was the original Sand Hill Road. In the 1960s and '70s, the four-lane highway cut a path around the city's myriad universities and research centers to the suburbs, where high-tech startups rented offices in cheaper ZIP codes.

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Venture capitalist Elena Viboch is a partner at General Catalyst (GC) and active neuroscience investor. She says, ‘“we are now able to identify how to overcome the key obstacles of the past, present and future to align on collective action to reach otherwise unattainable goals.’