Eniac Ventures

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Eniac Ventures
IndustryVenture capital
Founded2009
FoundersHadley Harris, Nihal Mehta, Tim Young, and Vic Singh
Websitewww.eniac.vc

Eniac Ventures is an American seed-stage investment firm. The name stands for Electronic Numerical Integrator And Computer, which was the name of the first electric general purpose computer.

Overview[]

Eniac Ventures was formed in 2009 as a seed-stage investment firm.[1]

The founding general partners of Eniac include Hadley Harris, Nihal Mehta, Tim Young, and Vic Singh. It now has offices in San Francisco and New York.[2] Its first fund was closed in 2010 at $1.6 million,[3] consisting of the founders’ own funds and funds from friends and family. They made investments in 32 initial companies,[4] and developed a reputation for accelerating companies from the seed stage to Series A funding stage.[5] Eniac's second was closed in 2013 at $12.9 million.[6] In 2015 the firm closed its third round of funding at $55 million.[7] In 2017 the firm closed a fourth round of funding at $100 million.[2][8]

Portfolio[]

Early investments the company made included Airbnb, Twitter, SoundCloud, Glide, and Vimeo.[7] Companies that Eniac has more recently invested in include Ready Robotics,[9] Legit,[10] 10% Happier,[11] Pienso,[12] Snips,[13] Bleximo,[14] Iron Ox,[15] Xwing,[16] FortressIQ,[17] Zero,[18] Fuzzy,[19] Visual Vocal,[20] and Sea Machines.[21]

In 2019 so far, Eniac has invested in 1upHealth [22] and briq [23]

References[]

  1. ^ https://www.washingtonpost.com/business/capitalbusiness/as-mobile-gadgets-become-bigger-some-companies-abandon-web-sites-altogether/2013/11/24/26d734b6-52e4-11e3-a7f0-b790929232e1_story.html
  2. ^ a b "Eniac Ventures closes $100 million fund".
  3. ^ "Mobile-Focused Eniac Ventures Raises $55M Third Fund".
  4. ^ "Inside the Mind of a New York VC: Hadley Harris of Eniac Ventures". 14 March 2017.
  5. ^ Locker, Melissa (13 April 2017). "Eniac Ventures just closed a new $100 million round for robots (and some other stuff)". Fast Company.
  6. ^ "Xconomy: Eniac Ventures Opens Its Pockets Wider for Mobile With Second Fund". Xconomy. 30 September 2013.
  7. ^ a b "Eniac Ventures raises new $55M fund to double down on mobile investments". 22 January 2015.
  8. ^ Guditch, Paulina. "What This Serial Investor Wants All First Time Founders To Know". Forbes.
  9. ^ "Why Ready Robotics moved its HQ from Baltimore to Ohio". 23 April 2018.
  10. ^ "Startup Q&A - Legit is Working to End the Repetitive Nature of Filing Patents". VentureFizz. 3 April 2018.
  11. ^ "10% Happier, a 'no BS' meditation app for skeptics, raises $3.7M in new funding".
  12. ^ "Pienso raises $2.1M to help non-programmers interact with machine learning models".
  13. ^ "Committed to privacy, Snips founder wants to take on Alexa and Google, with blockchain".
  14. ^ "Bleximo raises $1.5M for its quantum computing accelerators".
  15. ^ "Are Robots the Future of Farming?". Inc.com. 3 January 2018.
  16. ^ "Autonomous-aviation startup Xwing takes flight with $4 million in funding".
  17. ^ "FortressIQ raises $12M to bring new AI twist to process automation".
  18. ^ "Zero raises $8.5 million for a credit card that functions like a debit card".
  19. ^ Kolodny, Lora (11 December 2017). "Fuzzy Pet Health raises $4.5 million for house calls for pets". www.cnbc.com.
  20. ^ "Visual Vocal raises $3.6M for virtual reality enterprise collaboration platform". GeekWire. 13 October 2017.
  21. ^ https://www.wired.com/story/toyota-sea-machines-autonomous-boats//
  22. ^ "Health data aggregation, centralization platform 1upHealth scores $2.38M in seed funding. The round was led by Eniac Ventures, Social Leverage and Meridian Street Capital". MobiHealthNews. February 14, 2019.
  23. ^ "Briq, the next building block in tech's reconstruction of the construction business, raises $3 million". TechCrunch. February 22, 2019.
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