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A newsletter for communities, investors, angels, and founders
Power in Numbers
March 21, 2025
Welcome to PIN’d - our weekly newsletter where we pin (lol, bear with us) the most important tech/startup news of the week for aspiring angels, vc’s, startup investors, founders, etc. Expect a new weekly roundup from us every Friday morning!
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📰 This week’s best news
After two decades in business, Klarna has officially filed for an IPO on the New York Stock Exchange. The “buy now, pay later” giant has rebounded from its 2022 valuation collapse, reporting $2.81 billion in revenue and a return to profitability in 2024. Klarna’s move could pave the way for other fintech firms like Chime and Plaid to follow suit.
PS: Check out our Klarna Mafia piece.
Fueled by investor enthusiasm for AI, US venture capital is pouring cash into tech startups at a pace not seen since 2021. More than $30 billion has been invested this quarter, with mega-deals like OpenAI’s rumored $40 billion raise leading the charge. While big-name AI firms are raking in cash, smaller startups are struggling to secure funding in an increasingly lopsided market.
Y Combinator’s latest batch of startups is seeing record-breaking growth, thanks to AI automating coding and reducing costs. CEO Garry Tan says some startups are writing 95% of their code with AI, allowing them to scale with smaller teams and hit $10 million in revenue faster than ever. With 80% of the cohort focused on AI, this could mark a new era in early-stage venture success.
Rex Woodbury, a former venture capitalist at Index Ventures, has launched Daybreak Ventures with a $33 million debut fund. With backing from high-profile investors, Woodbury plans to focus on early-stage companies driving cultural and technological change.
Google is making its biggest acquisition yet, buying cybersecurity startup Wiz for $32 billion to boost cloud security and AI capabilities. The deal positions Google Cloud to compete more aggressively with AWS and Microsoft Azure, while also raising regulatory concerns.
HR tech rivals Rippling and Deel are locked in a fierce legal battle, with Rippling accusing Deel of corporate espionage and racketeering. The lawsuit alleges a former employee acted as a spy, accessing confidential data about Deel over 450 times. Deel denies the claims, calling them a diversion from Rippling’s own controversies, while Slack logs play a starring role in the evidence.
Sequoia Capital is set to turn its investment in Wiz into a massive win, with a return of 25 times its original stake following the cybersecurity startup’s $32 billion sale to Alphabet. This deal, the largest in Google’s history, will integrate Wiz into Google Cloud, strengthening its security offerings.
Ribbit Capital, a venture firm known for its fintech investments, is raising $500 million for a new fund, a filing with the U.S. Securities and Exchange Commission (SEC) revealed on Wednesday. The new capital appears to be a part of the Palo Alto-based venture firm’s latest flagship fund, titled Ribbit Capital Y, the SEC filing suggests.
💰 Funding announcement highlights
Maxion Therapeutics, a startup developing antibody-based drugs targeting autoimmune disorders, chronic pain, and cardiovascular diseases, raised a $72 million Series A. General Catalyst led the round, joined by British Patient Capital, British Business Bank, Solasta Ventures, Eli Lilly, and previous investors LifeArc Ventures, Monograph Capital, and BGF.
Graphite, a startup providing a platform for developers for creating, reviewing, and merging code changes, raised a $52 million Series B. Accel was the main investor, with Anthology Fund (a joint venture between Anthropic and Menlo Ventures), Shopify Ventures, Figma Ventures, Andreessen Horowitz, and The General Partnership also showing up.
Halliday, a startup that allows developers to automate complex workflows on blockchain networks by safely involving AI agents and third parties, raised a $20 million Series A. Andreessen Horowitz led the deal, with Avalanche Blizzard Fund, Credibly Neutral, and Alt Layer also contributing.
Kela, a Tel Aviv startup helping organizations and governments worldwide monitor and analyze cybercriminal activities, enabling them to proactively defend against potential attacks, raised $39 million in two seed and Series A rounds. The seed was led by Sequoia Capital while Lux Capital led the Series A. In-Q-Tel also invested.
Cognition AI, a startup building an AI-powered coding assistant, raised an undisclosed amount in the hundreds of millions, according to Bloomberg, in a deal led by 8VC.
📚 Interesting reads of the week
A new SEC ruling makes fundraising much simpler for venture capital managers using Rule 506(c). Previously, firms had to verify investors' accredited status, discouraging many from using the rule. Now, managers can assume accreditation for investments over $200K, opening the door for more public marketing and reducing fundraising friction.
Startups often waste time and money testing too many acquisition channels at once. Sandy Diao, a growth leader from Meta and Pinterest, shares a framework to identify the 1-2 channels that will drive 70% of your growth. By aligning your product’s natural strengths with the right distribution strategy, you can scale faster and more efficiently.
Poppi co-founder Allison Ellsworth turned a homemade prebiotic soda into a billion-dollar brand, culminating in PepsiCo’s $1.95 billion acquisition. From selling at Texas farmers markets to a Super Bowl ad, her journey was fueled by Shark Tank, viral TikTok success, and relentless perseverance.
Jack Altman launched Uncapped, a podcast featuring candid conversations with industry leaders on business, investing, and technology. The first episode with investor Shaun Maguire dives into speaking publicly, tech’s political evolution, and finding fulfillment in investing.
Angel investing isn’t just about making money, it’s about learning from great founders, building a strong network, and staying ahead of emerging trends. This article compiles insights from top angels on how to find the best deals, avoid costly mistakes, and maximize your impact.
💪Tech mafia of the week
Highlights:
💰 Most money raised: Wallapop
🤑 Total money raised by the Glovo Mafia: $400 million
Weekly Tech Mafia Leaderboard
The Glovo alumni has built some amazing companies. This tech mafia group takes the 85th spot on our leaderboard, with 23 companies founded and $400 million raised.
PS: Are you a Glovo alum interested in getting your community together to invest in the community (and earn carry/other benefits along the way)? Or are you a member of another community that you think would make for an amazing startup investment community?
Learn more about us and sign up for the waitlist here.
📌 PIN tweet of the week
OpenAI’s fund has backed 14+ AI startups. One of them could become the next $100B company.
AI startups are growing fast, but only a few will break out like OpenAI itself.
Here's a look at OpenAI's portfolio:🧵
— PIN (@getpinxyz)
12:41 PM • Mar 17, 2025
💼 Who’s hiring in VC?
Looking to get into VC? Below are this week’s curated VC job openings.
WIND Ventures is looking for a VC Investor.
Maximus is looking for a Senior VC Director.
FemHealth Ventures is looking for a VC Associate.
Griffin Gaming Partners is looking for a VC Investor.
SVG Ventures is looking for a VC Director.
📠 Fun fact of the week
Before the original design for an iPhone, Apple patented a phone design in the shape of an actual apple. It was a flip phone that, when closed, would look like the Apple logo.
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