Blog

Topic
Topic
March 18, 2019

On the early days of AdMob, a call from Steve Jobs and the secret sauce to Sequoia’s success


Omar Hamoui is a Partner at Sequoia Capital, arguably one of the most well-known VC firms in the world, with investments in some of the biggest names, including Dropbox, WhatsApp, Xoom, Square, Evernote, InstaCart to name a few.

In this episode, Omar sat down with Nihal Mehta, Founding Partner at Eniac Ventures, to share his story on building AdMob, one of the most successful mobile ad networks, how it caught the attention of Steve Jobs and Sergey Brin and what it was like being acquired by Google.

From being a serial entrepreneur, Omar also discusses his move to VC, the core values of Sequoia and what it is like behind the scenes.

He opens up about the most challenging parts of venture capital, the long feedback loop and why it is a “low ego” job. He also shares his most used app – and it might surprise you!

More
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.

More
March 8, 2019

By Tim Young, Founding General Partner

For too long women have not received the recognition they deserved for discovering, inventing, building, inspiring across all industries and sectors. We know the stories of Marie Curie, Amelia Earhart, Jon of Arc, Margaret Sanger and Rosa Parks, but there still remain millions of women who have been instrumental to shaping the world whose stories are untold.

In celebration of International Women’s Day and Women’s History Month, the Eniac team wanted to honor the women in our lives who inspire us daily and the two women from history that were the inspiration behind one of our designs.

More
March 7, 2019

On board members: what to look for, how to optimize, expectations at each funding round and managing bad behavior


Jeff Richards, Managing Director of GGV, speaks with Eniac Ventures’ Founding General Partner Tim Young on all things managing a board, expectations when recruiting & building out your early team and how being a founder is a lot like his experience being a father.

As a two-time founder with more than 13 years of building and operating his companies across the U.S. and Asia, Jeff joined the world of venture capital with a wealth of first-hand experience. Today, at GGV, Jeff focuses on enterprise, cloud, and consumer/internet-based brands. His investments include HotelTonight, Flipboard, Voicera and has been involved in Opendoor, Domo, Square, and Wish. He currently sits on several boards, including Boxed, Brightwheel, Namely, Tile, to name a few, and most recently joined Electric.ai.

Having sat on more than a dozen boards, Jeff digs into all things board members — what to look for, how to optimize, expectations and how to handle bad behavior. He also gives his advice on the biggest differences between your board and team between Seed to A.

Jeff discusses when it is time to start building out your team, why it is important to have an org chart, expectations when recruiting top talent and how founders should be building teams outside tier one markets.

Jeff also shares some personal anecdotes from his life, like how being a founder prepared him for fatherhood and how he maintained his resilience during when his company crashed right before his wedding.

He also speaks to his biggest misses as an investor and the worst advice he’s received lately.

More
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.

More
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.

More
February 7, 2019

By Hadley Harris, Founding General Partner, Eniac Ventures


Today, we’re announcing that our portfolio company Anchor has agreed to be acquired by Spotify in a significant acquisition. In the three short years since we led their seed round, Anchor has created significant value, becoming the dominant platform for creating, distributing and monetizing podcasts. As of January 2019, Anchor powers 40% of all new podcasts.

We led Anchor’s seed round in 2015 because we believed audio was an underserved form of content and a platform that enabled people to easily create and distribute podcasts was a natural way to address that unmet opportunity. While huge platforms had been built around photos (Instagram), video (YouTube) and text (Twitter), there wasn’t a platform that let users share audio as a way of communicating and expressing themselves.

My partners at Eniac and I have thoroughly enjoyed working closely with Mike Mignano, Nir Zicherman, and the incredibly talented team they’ve built. We are thrilled that Anchor will continue to execute on their vision of democratizing podcasts.

Reflecting on our time with Anchor, there are four key takeaways we feel will continue to drive how we work with founders.

More
January 28, 2019

The ABCS of the Eniac Creed

January 28, 2019

Authentic. Bold. Curious. Scrappy.


By Vic Singh, Founding General Partner, Eniac Ventures

Over the past decade, we have lived a set of core values at Eniac that we recently codified. This value system forms the ethos of the firm we’ve built and the values we like to see in our partners including founders, LPs, the Eniac Network and the broader tech community. Together, these core values constitute the Eniac Creed and we work hard every day to ensure our work meets our creed.

More
January 25, 2019

On raising capital, scaling teams and funding the underserved


Shivani Siroya, Founder & CEO of Tala, speaks with Nihal Mehta about her journey from finance to entrepreneurship, and now a CEO of a fast-growth company with more than 270 employees across 5 countries and $100M in venture funding.

Tala is a mission-driven tech company opening financial access across emerging markets. Working for the UN Population Fund across Africa, Shivani saw the lack of access available to millions of people firsthand and started working on ways to solve the problem. Less than 5 years later, she had attracted some of the biggest names in venture capital, such as Chris Saca and Steve Case, and now has landed the support of financial giants including PayPal.

In this episode, Shivani talks about the inception of Tala and how it was born to close the huge financial access gap from traditional banking practices. She warns founders to not focus on name brand funds, but shares advice on staying true to your vision and focus on what you are solving and the opportunity will follow.

Shivani speaks about the challenges of hiring and finding the right people who can bring diverse viewpoints, but share Tala’s vision, as well as her responsibility for ensuring the workplace is not only diverse but an environment that is equitable and gives everyone the opportunity to succeed.

She also speaks to how she manages time, the importance of her CEO letters and why she holds a weekly AMA.

More