Sequoia
Facts
- HQ
- Menlo Park, California, USA
- Sectors
- Venture capital, Investment
- Founded
- 1972
Ineffable Intelligence names six new ‘cofounders’ — ex-DeepMind, InstaDeep and Flying Fish veterans join $5B startup
Ineffable Intelligence, a London AI startup founded by ex-DeepMind researcher David Silver, has hired six senior hires as ‘cofounders’ from Google DeepMind, InstaDeep and venture firm Flying Fish; the company was valued at $5 billion after a $1.1 billion seed round in April. The new cofounders include Chris Apps, Wojciech Czarnecki, Lasse Espeholt, Junyhuk Oh, Alexandre Laterre and Heather Gorham, several of whom worked on DeepMind projects like AlphaStar and MetNet.
Harvey launches Tenet, a proprietary legal AI post-trained on Moonshot’s Kimi K3 to replace OpenAI calls
Harvey launched Tenet, its first proprietary legal AI model, which was post-trained on Moonshot’s open-weight Kimi K3 to reduce reliance on third-party providers and internalize costs. The model was trained using mock legal disputes created and graded by hired lawyers to optimize performance for legal workflows.
PitchBook: AI Megadeals Took 87.5% of U.S. VC Dollars in H1 2026, Series D+ AI Valuations Jump 6.6x
PitchBook's Q2 2026 U.S. VC valuations show that AI megadeals captured 87.5% of venture dollars in H1, driving much larger valuation step-ups (median 2.2x for AI vs 1.6x non-AI and 6.6x at Series D+). Liquidity is limited—IPOs are sparse and acquisitions are mixed—while top AI firms like Anthropic are inflating return expectations and skewing the market.
Legora hits $100M ARR in 18 months, challenging Harvey after $550M Series D values it at $5.55B
Swedish legal AI startup Legora says it grew from about $1 million ARR to $100 million ARR in 18 months, a rapid rise that positions it as a major challenger to Harvey and supports its $5.55 billion valuation after a $550 million Series D led by Accel.
OpenAI's $1.1B Statsig Acquisition and Other Billion-Dollar Deals Finalists for 2026 GeekWire Deal of the Year
The 2026 GeekWire Awards feature finalists including billion-dollar deals by OpenAI and others, a rare Seattle-area IPO, and a $5 billion mega-round, all recognized for their significant impact on Northwest tech. Voting for the Deal of the Year, which highlights key transactions in innovation, runs through April 16.
OpenAI Acquires Statsig for $1.1 Billion, Appoints CEO Vijaye Raji as CTO of Applications
OpenAI is acquiring Statsig for $1.1 billion in an all-stock deal, appointing Statsig CEO Vijaye Raji as its new CTO of Applications. The startup will operate independently post-acquisition from its Seattle office, while its employees may join OpenAI.
Statsig Raises $100M at $1.1B Valuation to Expand AI-Powered Product Development Platform
Statsig raised $100 million in Series C funding at a $1.1 billion valuation to expand its AI-driven product development platform that unifies A/B testing, analytics, and feature management. Led by Iconiq Growth with participation from Sequoia and Madrona, the company aims to grow its product offerings and 140-person team amid increasing AI-driven software complexity.
Chainguard Raises $356 Million Series D, Valued at $3.5 Billion in Under Two Years
Cybersecurity startup Chainguard raised $356 million in a Series D funding round led by Kleiner Perkins and IVP, boosting its valuation to $3.5 billion from $1.12 billion less than a year ago. Founded in 2021, Chainguard helps secure software supply chains, focusing on open source software security, and has grown its annual recurring revenue to $40 million with plans to exceed $100 million soon.
Seattle Startup Lumen Orbit Raises $11M Seed Round to Build Space-Based Data Centers for AI
Lumen Orbit, a Seattle-area startup founded in 2023, raised $11 million in seed funding to develop data centers in space for AI and technology services on Earth. The company, valued at $40 million, plans to launch a full-scale prototype in 2025 and is led by CEO Philip Johnston and co-founders with aerospace and space tech backgrounds.
Anthony Bontrager: Saudi PIF, Mubadala, QIA and KIA Drive 5–10x Surge in VC Capital; PIF Plans $50B+ VC Deployment
Middle Eastern sovereign wealth funds and family offices — led by Saudi Arabia’s PIF, UAE’s Mubadala, Qatar’s QIA and Kuwait’s KIA — have dramatically increased VC allocations since 2020, often requiring fund managers to invest in local startups, transfer knowledge, or establish regional presence as part of those commitments.
Clearbrief raises $3.5M seed to scale AI that flags misrepresentations in litigation briefs
Clearbrief, a Seattle startup, raised a $3.5 million seed round led by Reign Ventures to expand its AI-powered tool that uses NLP to flag unsupported or misrepresented statements in litigation documents and surface underlying evidence. CEO Jacqueline Schafer says the software helps lawyers and judges quickly verify claims, improve strategy, and increase access to legal materials as courts move online and adopt new filing rules.
Rec Room raises $20M Series C led by Madrona as pandemic drives surge to 3M+ user-created rooms
Seattle-based Rec Room raised $20 million in a Series C led by Madrona Venture Group, bringing total funding to nearly $50 million. The four-year-old virtual hangout and game-creation platform saw explosive growth during the pandemic, tripling its community and surpassing 3 million user-created rooms by September.
Snowflake raises $3.4B in largest software IPO, opens at $245 and closes at $253.93 valuing company over $60B; Madrona an early investor
Snowflake raised $3.4 billion in the largest-ever software IPO, pricing at $120 and opening at $245 before closing at $253.93 to value the company above $60 billion; early investor Madrona Venture Group, which invested in 2017, benefited though it holds under 5% and did not disclose stake value.
