Flint Capital

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Flint Capital
Industryventure capital
Founded2013; 11 years ago (2013)
Headquarters
Boston
,
United States
Areas served
Europe, United States, Israel
Key people
  • Dmitry Smirnov
  • Sergey Gribov
  • Andrew Gershfeld
  • (managing partners)
Websiteflintcap.com

Flint Capital is an American-Israeli venture capital firm focused on startups in health technology, cybersecurity, consumer technology, and SaaS. Founded in 2013, the firm is headquartered in Boston, United States. Flint Capital's managing partners are Dmitry Smirnov, Sergey Gribov, and Andrew Gershfeld.

History[edit]

Flint Capital, whose name pays homage to Robert Louis Stevenson's Treasure Island novel,[1] was established in 2013. By 2022, Flint Capital had two $100-million funds under management, over 45 portfolio companies, including three unicorns, and 13 successful exits.[2]

Flint Capital focuses on a wide array of technology sectors, including digital health, financial technology, cybersecurity, DevOps, SaaS, and more. It pays special attention to startups launched by immigrant entrepreneurs from Eastern Europe and Israel,[1][3] and around a half of its funding goes towards Israeli companies.[4] Its most successful investments included Socure (valued at $4.5 billion), Flo (valued at $800 million), and WalkMe (valued at $2.5 billion), each returning over $100 million on initial investments—more than the respective funds had raised.[2][5]

Management[edit]

Flint Capital's investment team includes Dmitry Smirnov, Sergey Gribov, and Andrew Gershfeld.[2] The firm operates a head office in Boston, United States and an office in Tel Aviv, Israel.[1]

Funds[edit]

  • Flint Capital I is a $107-million fund launched in 2013 to invest from $0.5 to $2 million on average in the early stage.[3] The fund claims to have TVPI (total value to paid-in, the total value of the fund's holdings related to capital raised) among the top 10% venture funds globally.[3]
  • Flint Capital II is a $103-million fund raised by 2020. It's focused on seed and Series A and B rounds, with an average check size between $1 and $3 million. By the end of 2021, the second fund had made 18 investments, leading no less than 8, and had two successful exits.[4][1][3]

Investments[edit]

Flint Capital's investments and exits include, but are not limited to:

Company Description Reference
Flo AI-based health app for women [6]
Voca.AI AI-based voice assistants for customer service, acquired by Snap in 2020 [7]
Socure AI-based identity verification platform [8]
Antidote Health Telehealth services provider [9]
Cyolo Cloud-based secure connectivity provider [10]
Circles Online emotional support platform [11]
ODAIA AI-powered commercial insights platform for pharmaceutical companies [12]
CyberX Industrial cybersecurity platform, acquired by Microsoft in 2020 [13]
Loom Systems AI-powered customer experience analytics, acquired by ServiceNow in 2020 [14]
WalkMe Digital adoption platform, IPO at NASDAQ in 2021 [15][16]
Runway Applied AI research company [17]

References[edit]

  1. ^ a b c d Lucia Maffei (December 8, 2021). "Flint Capital completes 18 investments out of $100M second fund". Boston Business Journal. Retrieved April 22, 2022.
  2. ^ a b c "Flint Capital Closes Second Fund, at $103M". FinSMEs. December 8, 2021. Retrieved April 22, 2022.
  3. ^ a b c d "Flint Capital's new $103 million fund already claims two successful exits". East-West Digital News. December 9, 2021. Retrieved April 20, 2022.
  4. ^ a b Allon Sinai (October 17, 2020). "Retaining a long-term view, Flint Capital insists on investing in young startups". CTech. Retrieved April 22, 2022.
  5. ^ Akansha Srivastava (December 8, 2021). "Boston's VC fund which backed Flo, Socure and Walkme closes second $100M fund". TFN. Retrieved April 22, 2022.
  6. ^ Mike Butcher (December 15, 2016). "Flo raises $1M led by Flint Capital for its AI-driven period calculator". TechCrunch. Retrieved April 20, 2022.
  7. ^ Ingrid Lunden (November 11, 2020). "Snap acquired Voca.ai, which makes AI-based voice agents for call centers, for $120M". TechCrunch. Retrieved April 20, 2022.
  8. ^ Mary Ann Azevedo (March 16, 2021). "Socure raises $100M at $1.3B valuation, proving identity verification is hotter than ever". TechCrunch. Retrieved April 20, 2022.
  9. ^ Abigail Klein Leichman (December 16, 2021). "This startup aims to cure the US care access crisis". Israel 21c. Retrieved April 20, 2022.
  10. ^ Kyle Wiggers (July 28, 2021). "Cyolo raises $21M for zero trust networking tech". VentureBeat. Retrieved April 20, 2022.
  11. ^ James Spiro (August 17, 2021). "Circles raises $8 million for online support and wellness access". Ctech. Retrieved April 20, 2022.
  12. ^ Aisha Malik (February 10, 2022). "ODAIA raises $13.8M for its AI-powered commercial insights platform for pharma companies". TechCrunch. Retrieved April 20, 2022.
  13. ^ Ingrid Lunden (June 22, 2020). "Microsoft confirms acquisition of CyberX to boost security in its Azure IoT business". TechCrunch. Retrieved April 20, 2022.
  14. ^ "ServiceNow acquires Israeli AIOps start-up Loom Systems". The Jerusalem Post. January 22, 2020. Retrieved April 20, 2022.
  15. ^ Uri Berkovitz (December 9, 2019). "Israeli digital adoption co WalkMe raises $90m". Globes. Retrieved April 20, 2022.
  16. ^ Yessi Bello Perez (June 16, 2021). "WalkMe IPOs on NASDAQ a decade after launching". Unleash. Retrieved April 20, 2022.
  17. ^ "Truth Social's latest hurdle to going public: An insider trading scandal". Fortune. Retrieved 2023-06-30.
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