Blumberg Capital Compass: Mid-Year Pulse on AI, M&A, and the World’s Top FinTechs
From New York to Miami and Tel Aviv, there has been no shortage of activity in the startup world. Join us for a mid-year look at recent events and developments across our global tech ecosystem.
Thriving Tech Ecosystems from Tel Aviv to Miami, NYC and San Francisco
☀️ Miami
CIOs part of the Blumberg Capital CIO Council, an invitation-only group of 200+ IT and operations leaders, joined us for a waterfront dinner and conversation on emerging tech, AI, and what keeps technology leaders up at night. Our newest CIO Council members include leaders from Boston Consulting Group (BCG) , Google , Capital One , Lexmark , and Wipro .
🌆 Tel Aviv
At the annual Innovation Summit hosted by Tel Aviv University , Blumberg Capital managing director Yodfat Harel Buchris sat down with Moshe Bellows , managing principal at Maccabee Ventures , to explore U.S. investor perspectives on the state of tech and investments in Israeli startups.
🗽 NYC
It was great catching up with fintech friends and leaders from some of our fintech portfolio companies such as FundGuard, Sharegain, and Joshu during New York Tech Week. Blumberg Capital has invested in fintech for decades and we're proud to call NYC home to team members, portfolio companies, and the extended Blumberg Capital family. Thank you to Idan Tamir from GUTS - Harel Innovation hub and Joanna McNamara at Viewpoint for co-hosting.
🌉 San Francisco
The annual cybersecurity industry gathering in San Francisco, also known as the RSA Conference, gave us a good excuse to host portfolio company Myrror Security , CISOs, and AppSec leaders in our office for breakfast and networking.
Portfolio Companies are Growing
Congratulations to Eran Sher, Alon Eizenman and the SeaLights team on your next chapter as part of Tricentis, a global leader in continuous testing and quality engineering. As your lead Seed and long-time investor, we will continue cheering you on in your mission to improve software quality engineering.
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Congratulations to the BioCatch team on your continued growth and new $1.3B valuation. BioCatch has become a global #AI leader in detecting digital fraud and money laundering attempts, with customers that include 28 of the 100 largest global banks. We’re proud to be an early and long-term investor!
The Globes, in their 18th year of naming Israel’s most promising startups, selected FundGuard as one of the top 10 startups on this year’s list. The list includes startups with healthy growth and a significant impact on industries and consumers, based on votes from 70 leading local and foreign investment funds. This recognition comes shortly after FundGuard announced its $100M Series C funding earlier this year.
FirmPilot , the AI marketing engine for law firms, announced new Series A funding led by Blumberg Capital, bringing its total funding to $7M. Every hour, more than 1,000 people in the U.S. search online for legal help, and 75% of people searching online don't scroll past the first page of results. Led by marketing and AI veterans Jake Soffer , Jesse Rubin , and John Fly , FirmPilot uses AI to empower services-based SMBs like law firms with a modern way to efficiently and effectively increase their online visibility and direct inbound interest from prospective clients.
Field Materials , the leading AI software to control and verify construction material and equipment spending, raised an additional $3.5M, bringing its total Seed funding to $8.15M. Field Materials’ AI technology eliminates 90% of the PO and invoice processing time, transforming the productivity of construction companies. Its AI technology automatically identifies vendor billing errors to save contractors 5-10% in material costs, a critical difference as over $300B is spent annually by US commercial contractors on material purchases.
CNBC , together with market research firm Statista, listed the top 250 fintech companies globally, including portfolio company Addepar . The World’s Top Fintech Companies 2024 report includes companies both big and small, across a variety of market categories, with Addepar named to the Wealth Technology category.
Zone7 , the AI platform built to optimize human performance by identifying areas of enhancement and injury risk, joined forces with svexa to offer a more robust end-to-end AI suite of performance tools, with the potential to expand into military and emergency services functions.
Other Timely Resources and Perspectives
Blumberg Capital advisor Roy Lowrance , who helped design New York University 's Center for Data Science, a research and teaching center for AI and big data, shared a 2024 perspective on a 2018 post on AI. Roy examines elements that have shifted since 2018 and stayed the same.
After a two-week visit to Israel, David Blumberg sat down with Scott McGrew of NBC’s press:here to discuss the startup ecosystem and resilience of the Israeli tech industry.
What is top of mind for you, heading into the second half of 2024? Let us know below.