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Investor Highlight: General Catalyst Partners

Investor Highlight: General Catalyst Partners
June 22, 2021

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Now, on to our Tuesday Investor Highlight.

General Catalyst Partners had a busy spring. As a VC firm that invests from seed to growth, the firm and its team get a thrill from handing over checks to innovators in a wide range of industries. With a reputation for being a great ally to founders (unless you take the side of disgruntled ‘treps on The Funded), GC has contributed to some game-changing companies from its outposts in the Valley, NYC, & Boston (think Airbnb, Stripe, and Oscar). The XIR program (Executive-in-Residence) brings some of the brightest and most experienced professionals into the mix to create new businesses or accelerate growth in existing ones.

Entrepreneurial edge

General Catalyst is made of entrepreneurs, beginning with co-founders David Fialkow and Joel Cutler, after they built and sold 4 companies, including Alliance Development Group (sold to and Retail Growth ATM Systems (sold to PNC Bank). Former GC investor Rachel Blank went on to found her own company, Allara, focusing on women’s hormonal health, in a women's health tech industry expected to reach $50BN by 2025.

To get to know the firm better, let’s look at some of its recent investments:
  • Anduril Industries: While GC works primarily with early-stage companies, it reserves additional powder for growth & endurance stage investments for the A-team players. Anduril is a defense software & hardware company, with talent from some of the most innovative technology companies, bringing consumer and commercial technological advances to the defense industry. The company just raised a $450MM Round D.

  • Stork Club: General Catalyst led a $30MM Round A for this company bringing family planning for the modern age into employer-sponsored health plans.

  • ClubFeast: This company offers restaurant owners an additional revenue stream through pre-ordered meals. Betting on the experiment to get restaurants thriving, rather than just surviving, GC contributed to the company's second seed round of $10.3MM earlier this month.

  • HeyDay: Leader of both rounds of funding, General Catalyst believes in this Amazon seller support network. The company raised a $70MM Round B in May.

  • Loom: With flexibility and remote work the new normal, Loom has created an intuitive platform for simultaneous screen sharing, video conferencing, and recording. Its Round C of $130MM brought its valuation to $1.3BN.

  • Ophelia: Fighting the good fight, Ophelia is a health tech startup battling the opioid epidemic through at-home medication management for people experiencing withdrawals. General Catalyst participated in the seed round last year and followed up in a $15MM Round A this April.

In the firm's own words
The firm is not afraid to put pen to paper and share its investment choices, opinions, and leadership on GC Amplified. Some recent popular posts are The Civic Vertical: Towards a New American Dynamism and Driving Grocery Towards Zero Waste & Higher Profitability.

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Since last week, PrivCo has added:

586 Companies | 214 Funding Activities | 138 M&A Deals

Funding & Deal Highlights:

Underground raises $12.5MM from Accomplice VC

Food & Beverage Retail • Round A • San Francisco, CA

Novo raises $40.7MM from Valar Ventures

Banking Software & Internet Services • Round A • San Francisco, CA

Sense Talent Lab raises $16MM from Avatar Venture Partners

Software & Internet Services • Round C • San Francisco, CA

Diggs raises $13MM from Venn Growth Partners

Consumer Pet Products • Round A • Long Island City, New York

Userleap raises $38MM from Andreessen Horowitz

AI Software & Internet Services • Round B • San Francisco,CA 

Nate raises $38MM from Renegade Partners 

E-Commerce Software & Internet Services • Round A • New York, NY

Fiddler Labs raises $32MM from Insight Partners 

Technology Services • Round B • Mountain View, CA

Form Health raises $12MM from M13

Health Care Services • Round A • Boston, MA

TRM Labs raises $14MM from Bessemer Venture Partners

Crypto Software & Internet Services • Round A • San Francisco, CA

Splash Financial raises $44.3MM from DST Global, Citi Ventures & Detroit Venture Partners

Consumer Finance • Round B • Cleveland, OH

Curate raises $1.3MM from OCA Ventures & Stout Street Capital

Event Software & Internet Services • Seed • Saint Louis, MO

Simplifiya raises $6MM from Blue Zone Wealth Advisors

Cannabis Software & Internet Services • Round B • Denver, CO

Zus Health raises $34MM from Andreessen Horowitz

HealthCare Software & Internet Services • Round A • Watertown, MA

Securitize raises $48MM from Blockchain Capital and Morgan Stanley

Fintech Software & Internet Services • Round B • San Francisco, CA

Crediverso raises $3.1MM from Bessemer Venture Partners

Credit Software & Internet Services • Seed • Los Angeles, CA

Weedmaps acquires Silver Spike Acquisition Corp. for $250MM

Investor • SPAC • New York, NY

SureCo Health & Life Insurance Agency acquires Tembi Health

Software & Internet Services • Acquisition • Austin, TX

Elanco Animal Health acquires Kindred Biosciences

Biotechnology • Acquisition • Burlingame, CA

Hopin acquires Boomset 

Events Software & Internet Services • Acquisition • New York, NY

PureTech Health acquires Alivio Therapeutics 

Biotechnology • Acquisition • Boston, MA

Meltwater Group acquires Owler for $24.5MM

Software & Internet Services • Acquisition • San Mateo, CA

Danaher Corporation acquires Aldevron for $9.6BN

Pharmaceuticals • Acquisition • Fargo, North Dakota 

Superior Plus Corp. acquires Freeman Gas and Electric for $170MM

Commercial Equipment & Supplies Distributors • Acquisition • Spartanburg, NC

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