March 14, 2019

We are excited to announce that we’ve co-led a $2.6M Seed round in ProdPerfect with our friends at Fika Ventures.

By Hadley Harris, Founding General Partner

We couldn’t be more excited to partner with Dan, Erik, and team around their vision of building a fundamental company in the testing space. Based on their revenue growth rate of 40% month over month, they’re off to a great start! Over the last few years we’ve been looking at companies in the software testing space, but hadn’t found a company that possessed the right combination of team, vision, and solution. That changed when we met Dan and Erik. We’re excited to partner with them around their vision of building a fundamental company in the testing space.

February 27, 2019

Why we led our latest round with BRIQ

By Tim Young & Nihal Mehta

At Eniac, we see the eventual shift of construction companies to data-driven decision making an enormous opportunity. Over the last five years, we have been closely tracking construction saas and placing bets in the space. With the recent news of Procore valued at nearly $3b, Katerra raising $865m from Softbank, and Autodesk’s back-to-back acquisitions of PlanGrid ($875m) and BuildingConnected ($275m), we are starting to see this vertical heat up.

Globally, construction output is forecasted to reach upwards of $12.7 trillion by 2022, and the average spend on IT for construction companies is extremely low, relatively. Gartner reports that construction ranks last for IT spend, averaging just over 1% on IT, compared to the overall average of about 3.2%in other industries. And with 81% of decision-makers across the construction industry planning to spend more on technology in 2019, this momentum is only going to continue.

Today, we are excited to announce our latest construction SaaS investment in BRIQ, a Santa Barbara-based company that is bringing data intelligence and machine learning to allow builders to make better strategic decisions. We led their $3m seed round, along with our friends at MetaProp NYC and mState.

February 14, 2019

And why we co-led their seed round

By Hadley Harris, Founding General Partner

One of the areas we’re most excited about right now at Eniac is how the combination of data and AI will impact healthcare. Despite the inertia caused by structural aspects of the U.S. healthcare system, there are strong signs that we will see a seismic shift in how humans are cared for over the next 10 years. With 17.9% of the GDP spent on U.S. healthcare, this impending change will create unparalleled opportunities for innovative companies to emerge.

Today, we are excited to announce that we’ve co-led 1upHealth’s $2.38M Seed round of funding, along with our friends at Meridian Street Capital and Social Leverage. We believe 1upHealth has the potential to be a fundamental player in the digital healthcare evolution.

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.