Canadian mobile venture capital firm Relay Ventures has expanded its team. The firm brought on Spiros Michalakis, a California Institute of Technology quantum physics professor, as professor-in-residence. It also recruited Jessica Tsoong, co-founder of WiFiSLAM, an indoor mapping startup once funded by Relay, as an entrepreneur-in-residence, and Kady Srinivasan, global head of digital marketing at Dropbox, as a venture partner. Finally, Relay promoted Jake Cassaday to associate partner. Cassaday, who joined the firm in 2015 will, as a member of the investment team, source and lead deals directly.
After less than six months in market, the company has already signed up 10,000 paying customers and has attracted $7.5 million in funding from investors that include Relay Ventures, Social Capital, New Enterprise Associates (NEA) and TTV Capital. Greenlight plans to use that funding to expand its team and invest in attracting more customers with its smart debit card.
Circle Media Inc., a leading developer of products used by families to manage all their connected devices, today announced that it has received $10 million in Series A financing. This is the first round of financing raised by the company, which is already generating revenue, and has a large installed base of customers and a sizeable retail distribution footprint. The round was led by Relay Ventures, an early stage venture fund based in Menlo Park, Calif. Circle will use the funds to accelerate the growth of its user base in the U.S., expand its reach to new global markets, and enhance its product offering to meet the evolving mobility needs of customers.
Nymi, creator of the Nymi Band, today announces that it has closed a US $15 million Series B round of funding, led by new investor GII Tech from Dubai, with participation from Nymi’s Series A investors, Relay Ventures and Ignition Partners.
“This is an important milestone for Nymi,” said Nymi founder and CEO, Karl Martin. “We have made significant progress in the last two years, delivering on our vision of wearable, Always On AuthenticationTM. This new round of financing, with the support of our existing investors and the addition of GII Tech Ventures, provides us with the necessary resources to enter the next phase of scaled deployments.”
In August of 2015, I was taking a look at my schedule for the day, noticing a “courtesy meeting” with a company called UJET. The referral had come from one of our closest advisors who was billed as having technology chops, but I couldn’t help but dread seeing yet another customer support app.
Anand Janefalkar, Founder & CEO of UJET, walked in later that afternoon and a courtesy meeting quickly turned into canceling the rest of my day to hear and learn more.
Contacting customer support often means leaving a business’s app and picking up a phone.
For UJET Inc., which has been quietly building software to keep customer support inside apps, that is an opportunity. The company wants to eliminate unnecessary time on the phone by providing call center agents with more information about the customers.
San Francisco-based UJET said on Thursday that it has raised more than $20 million in venture funding. Its second institutional round, led by Kleiner Perkins Caufield & Byers, closed last week. Other investors include DCM Ventures, Resolute Ventures and Relay Ventures.
Relay is sponsoring Flying Upside Down, an all-new conference format designed from the ground-up with founders in mind. The highly curated lineup of speakers will tackle every stage of the journey, from high-level strategy to tactical execution, and will provide new mental models for navigating in the clouds and real insights to put in motion tomorrow.
Relay Ventures today announced that Irfhan Rawji has joined the firm as a Venture Partner. In this role, he will be responsible for the firm’s market development in Western Canada and the US Pacific Northwest.
Irfhan brings to Relay extensive experience as a strategic consultant, investor, and public company senior executive responsible for M&A, strategy, and investor relations. Through his 15-year career, Irfhan has been in senior roles with McKinsey & Company, Onex Corporation, and Birch Hill Equity Partners. He has also served as an Adjunct Professor at the Sauder School of Business at the University of British Columbia where he taught finance, public policy, strategy, and leadership.
Irfhan holds an MBA with High Honors from Harvard Business School where he was a Baker Scholar, and a BCom with High Honours from the University of British Columbia where he was a Wesbrook Scholar. He is a recipient of The Queen Elizabeth II Diamond Jubilee Medal and Arnold Edinborough Award.