December 18, 2018

BVic Singh, Founding General Partner, Eniac Ventures

Our thesis in autonomy is quite simple — we believe that anything that moves will move itself autonomously in the future. This belief serves as the underpinnings of our investments in the first wave of autonomy — autonomous robotics — and its looming impact across large GDP sectors of the global economy.

Today, we are pleased to announce that we’ve doubled down on our undisclosed investment in Sea Machines to bring autonomy to sea vessels as part of their $10MM Series A, along with our friends at AccompliceToyota AI VenturesNextGen and others. Sea Machines rounds out our autonomous transport portfolio across air, land and now sea.

December 4, 2018

By Nihal Mehta, Founding General Partner

The world is falling in love with “sexy” robot process automation (RPA) startups. Last month, UiPath raised a whopping $265M Series C at a $3B valuation — then just a day later, Automation Anywhere announced a $300M round from Softbank’s Vision Fund at a $2.6B valuation. And it’s no surprise why — the future of work is with AI.

October 2, 2018

By Tim Young, Founding General Partner

Today, Dave Vasen, Founder and CEO of Brightwheel announced the close of their Series B, a $21 million round led by our friends at Bessemer. We couldn’t more excited to see Brightwheel in its current position as the leading software provider in early education.

We met Dave in the very early days. He was a team of one, had a basic product and five preschool customers. He had a big vision and as an early founder, Dave’s passion for the space and building a business was tangible.

October 1, 2018

By Vic Singh, Founding General Partner and Javaughn Lawrence, Associate

We’re excited to lead the seed round in Bleximo along with our friends at BoostVC and Creative Ventures. Bleximo is building quantum accelerators, starting with quantum-based application specific integrated circuits (qASICs), first focused on molecule simulation for drug discovery. We believe that their vertical approach will enable it to realize these near-term applications sooner than general purpose quantum hardware providers.

June 28, 2018

Eniac leads MedCrypt in $1.9M seed round to scale cryptographically embedded software for medical devices

June 28, 2018

By Tim Young, Eniac Founding General Partner

We are excited to announce the latest company to join the Eniac portfolio: MedCrypt, a San Diego-based company that provides cryptographically embedded cybersecurity software for medical devices.

Cyber attacks are a growing epidemic and the wake of damages is expected to reach upwards of $6T annually by 2021. In healthcare, cyberattacks can mean life or death, and FortiGuard Labs reported that healthcare organizations experience more than twice the number of attacks on average as compared to organizations in other vertical markets. This has gained the attention of top medical device manufacturers and the FDA, which recently released their Medical Device Safety Action Plan.

MedCrypt’s cryptographically embedded security software enables medical device companies to secure and monitor the behavior of their devices and meet the new FDA cybersecurity regulations. MedCrypt will also be uniquely positioned to acquire and leverage a proprietary, cross-platform dataset providing device companies, hospitals, and medical facility security teams with a more robust solution to monitor and protect in real-time.

April 5, 2018

By Tim Young, Founding General Partner, Eniac Ventures

According to the Thomson Reuters Legal Executive Institute, the U.S. Legal Services reached upwards of $437B in 2017, and with law firms’ business models being predicated on inefficiencies, Eniac has long been bullish on a company that can capture the spend and make the provision of legal services far more effective.

Enter Legit — the company that we believe is going to reinvent the U.S. legal system one vertical at a time, from IP to tax, M&A and litigation. They are well on their way because today, we are excited to announce that Eniac has led their $2.6M seed round.

March 1, 2018

By Vic Singh and Tim Young, Founding General Partners, Eniac Ventures

We’re proud to announce that we’ve led their $4MM Seed Round!

At Eniac, we think broadly about the future of traditional industries that have yet to be fully technology enabled. Transportation is a sector we know is ripe for innovation and we’ve been thinking about the future of transportation across all major modes including ground, rail, sea, and air. We have bets in ground transport and are looking for more in other modes. We believe electrification and autonomy will come to air just as is happening with ground transport. The aviation industry has its own set of structural challenges and opportunities that will make truly autonomous aviation a near to mid-term reality. Electrification itself is further behind but we believe it will also happen.

February 26, 2018

By Vic Singh, Founding General Partner

We are excited to announce that Eniac co-led the seed round in Vence, a startup out of San Diego that is changing the way livestock and pastureland are managed. The round was co-led by Kickstart Seed Fund with participation from Rabo Food & Agri Innovation Fund.

Globally, livestock and pastureland are multi-trillion dollar assets that are currently managed with a bifurcated approach of manual labor and legacy technology, with a limited view into true real-time data.

Vence’s platform is changing the entire approach by building a virtual fencing livestock management platform powered by industrial IoT, data and machine learning. They are removing the barriers — physically and metaphorically — that have limited livestock and pastureland management from fully entering the digital era. Vence is reinventing the outdated, static practices and reducing perpetual labor costs by ~25% allowing livestock owners to fully optimize land usage with AI, and track and manage animal welfare in real time, all from a mobile device.

February 8, 2018

By Hadley Harris, Founding General Partner

TapCommerce Founders Brian Long & Andrew Jones announce Attentive’s $13M Series A.

We’re super excited to announce that our portfolio company Attentive is coming out of stealth today and has closed a $13M Series A led by our friends at Bain Capital Ventures. This is especially exciting for us because this is the first time we’ve backed a founding team for the second time. In 2013, Eniac Ventures led a seed round for TapCommerce, a mobile retargeting startup, that was founded by Brian Long and Andrew Jones. They built an amazing team that we thoroughly enjoyed working with, and it wasn’t long before TapCommerce was the clear leader in mobile retargeting. Then after less than two years, the company was acquired by Twitter for $100M — all their blood, sweat and tears led to a nice outcome.

January 25, 2018

By Vic Singh, Founding General Partner

Why we led a $3MM round with the most promising Esportspreneur.

Eniac is getting in the game with Esports One! We are excited to announce we’ve co-led their $3MM seed round with XSeed Capital. Esports One, the brainchild of “Esportsprenuer” Matt Gunnin, has coupled their proprietary computer vision technology with machine learning and custom datasets, creating real-time modules that are reshaping the way fans can watch and engage with esports. The financing will support the team ramp up operations and continue hiring.