Glasswing Ventures has raised $112m for the close of its debut VC fund, making it the largest AI-focused vehicle on the US East Coast according to the firm.
The fund will invest in early stage artificial intelligence-focused enterprise software and cybersecurity startups.
Glasswing is headed-up by managing partners Rudina Seseri and Rick Grinnell alongside managing director Sarah Fay.
“As a majority women-led VC firm, we are incredibly proud to lead by example and disrupt the status quo in our industry,” said Fay.
The Boston-based firm’s previous investments include Talla, Allure Security and Terbium Labs.
Seseri added, “Raising an AI-focused fund on the East Coast is just the beginning for Glasswing Ventures.”
“As we embark on a journey to shape the future, we are laser-focused on investing in exceptional founders who leverage AI to build disruptive companies and transform markets.
“Beyond providing smart capital, we are firmly committed to supporting our entrepreneurs with all facets of building and scaling their businesses.”
Earlier this year, Glasswing led a $5.3m funding round for Allure Security, a US startup focusing on data loss detection and response. Glasswing managing partner Rick Grinnell, known for his investments in EqualLogic, Prelert, and Resilient Systems, joined Allure Security’s Board of Directors as part of the round. Greycroft, Zetta Venture Partners and Portage Partners also participated in in the investment.
Allure Security was founded in a Columbia University research lab by a team led by Salvatore Stolfo, a renowned AI and data security scientist. Its flagship product is the first Data Loss Detection and Response (DDR) technology that tracks and protects documents, without agents, inside and outside the enterprise walls.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
