If you’ve been keeping tabs on the news, you’ve probably heard about Peak State Ventures. The company, based in Seattle, invests in start-ups in a variety of industries, including healthcare, pharmaceuticals, and digital media. They’ve made a few big bets, and they’ve been pretty successful. You can learn more about them and their other investments in this article.
Mosaic Building Group
The Phoenix, Arizona-based construction technology startup Mosaic Building Group recently raised $44 million in Series B funding. The company describes itself as a digital general contractor, handling infrastructure behind the scenes and allowing customers to focus on their core business. Recently, it secured backers including Brightstone, Innovation Endeavors, Andreessen Horowitz, and Building Ventures.
Mosaic’s technology enables residential construction to be scalable. It digitizes standard construction plans and blueprints, automates the planning process, and helps construction companies improve their work. In addition, it reduces material waste, eliminates costs, and enhances quality. Currently, it has 195 homes under construction. With another 195 planned for the next two years, Mosaic hopes to double its employee capacity by 2022.
This technology is able to provide construction companies with data reports at any stage of the project, from the planning stages to the actual building. Moreover, Mosaic’s software acts as a tech-enabled general contractor for residential development projects. By doing this, it frees up real estate developers to focus on other aspects of their businesses.
Xebia Biosciences
Peak State Ventures is a venture capital firm based out of San Francisco. They have a slick office with an impressive boardroom. In addition to being a VC, they also operate a startup accelerator program called the Founders’ Program. A recent round of funding led by Next47 and Celesta Capital included a number of notable participants including August Capital, Gaingels, and Resideo Technologies. However, the main attraction is its investment in azevedo, a biotech start-up that uses AI to detect and treat disease. Although the company focuses on AI as its core offering, it has expanded into other sectors such as digital health, software-as-a-service (SaaS), and real estate technology.
Peak State Ventures was founded in 2017 and they have a fairly robust deal flow for the year. In terms of capital, they’re a bit more cautious than some of their competitors, but they’re still one of the more active VCs in the country. This includes a number of high profile, high-value deals, like the ones mentioned above. The Founders’ Program offers a full suite of services to help its portfolio companies grow and scale.
Other investments by Peak State Ventures
Peak State Ventures is a venture capital firm located in San Francisco, California. It is founded by Sid Krommenhoek and Jeff Burningham. Previously, they were the operators of several startup ventures. They saw difficulty in getting funding, so they created a fund that will make minority investments in early-stage companies.
The company’s focus is in technology and software-as-a-service. It invests in startups in areas such as digital health, machine learning, online education, and real estate. In its first round, the firm invested in Nigerian education startup Andela. Other investments include Mosaic Building Group, a Phoenix, Arizona-based construction tech startup. Next47, Celesta Capital, Gaingels, Resideo Technologies, August Capital, and Building Ventures participated in the company’s funding round.
Peak State Ventures has recently closed a second $50 million fund. This will give the firm an opportunity to invest in local startups throughout the state. It will also provide the fund with access to some of the leading venture capital firms.