Coverage Timeline
newest first- Sep 3, 2026FUNDINGStartup ARR Is Less Secure Than Ever→
- Sep 1, 2026FUNDINGFelix Hits Unicorn Status on $200M Series C$200M Series C→
- Aug 29, 2026FUNDINGWhy the AI Buildout Runs on Debt, Not VCs→
- Aug 4, 2026FUNDINGHappyRobot Hits Unicorn Status With $150M Series C$150M Series C→
- Aug 4, 2026FUNDINGConvex Raises $57M for an AI-Native App Backend$57M Series B→
- Jul 20, 2026FUNDINGNeo Launches With $100M to Secure Agentic AI Software$100M launch round→
- Jul 6, 2026FUNDINGGrowth Capital's New Pecking Order: Power, Chips, Everything Else$3B+ infra rounds vs. flat Series A medians→
- Jul 4, 2026FUNDINGCrypto VCs Are Quietly Out-Raising AI VCs on Fund Size$3.2B combined new fund capital→
All Coverage
FUNDING
Startup ARR Is Less Secure Than Ever
New research from Madrona, a16z and MIT shows enterprises now reevaluate AI vendors every six months, and fewer than half of AI pilots reach production -- meaning AI-era ARR is far less durable than the metric implies.
DEEP DIVE
Felix Hits Unicorn Status on $200M Series C
FUNDING$200M Series C
Felix Hits Unicorn Status on $200M Series C
Miami-based WhatsApp remittance platform Felix raised $200 million -- $87 million in equity led by a16z and General Catalyst, plus $113 million in debt -- tripling its valuation into unicorn territory.
DEEP DIVE
Why the AI Buildout Runs on Debt, Not VCs
FUNDING
Why the AI Buildout Runs on Debt, Not VCs
Nvidia's pause on financing smaller AI clouds, alongside a16z's new $1.1B hardware fund, shows two separate capital markets now underwriting AI: equity chasing the model layer, debt absorbing the risk of the physical buildout.
TRACE'S TAKE
HappyRobot Hits Unicorn Status With $150M Series C
FUNDING$150M Series C
HappyRobot Hits Unicorn Status With $150M Series C
HappyRobot raised $150M at a $1.2B valuation just eight months after its Series B, with a16z and Eurazeo betting AI voice agents can expand from freight brokering into insurance, energy and airlines.
Convex Raises $57M for an AI-Native App Backend
FUNDING$57M Series B
Convex Raises $57M for an AI-Native App Backend
Insight Partners led a $57M Series B for Convex, the reactive TypeScript backend now powering close to 2 million applications, with a16z and Spark Capital returning and OpenAI among its customers.
Neo Launches With $100M to Secure Agentic AI Software
FUNDING$100M launch round
Neo Launches With $100M to Secure Agentic AI Software
Three SentinelOne veterans launched Neo out of stealth with $100 million from a16z and Bessemer to secure the AI agents enterprises are now running against production systems.
Growth Capital's New Pecking Order: Power, Chips, Everything Else
FUNDING$3B+ infra rounds vs. flat Series A medians
Growth Capital's New Pecking Order: Power, Chips, Everything Else
This year's largest checks -- Crusoe, National Grid-Joulent, a16z crypto -- keep going to physical infrastructure and scarce capacity, leaving application-layer software further down the pecking order.
Crypto VCs Are Quietly Out-Raising AI VCs on Fund Size
FUNDING$3.2B combined new fund capital
Crypto VCs Are Quietly Out-Raising AI VCs on Fund Size
a16z crypto's $2.2B fifth fund and Haun Ventures' $1B second fund show crypto-focused venture firms raising fund sizes that rival or exceed many AI-focused funds, even as broader blockchain market sentiment stays subdued.