Why we invested in Lyvly

 The Lyvly team

The Lyvly team

Renting a residential property is a high-friction process, plagued by mishap, misunderstanding, and misfit. It’s painful for both landlords and tenants: most of us have scars on our backs from at least one bad experience.

Tenants (renters) — and there are a growing number of them — wade through a myriad of (outdated) listings, are locked in to cumbersome 12+ month leases, and then need to renew for another similar period. Renters are often subject to unnecessary agent fees, and, if they sublet, may find themselves stuck with incompatible housemates out of apparent ‘necessity’. Flat-sharers also manage the household by spreadsheet, or not at all, as the case may be.

Landlords in turn suffer (i) voids, (ii) mixed service from cowboy property managers; and (iii) problem tenants. Service is provided by analog methods (paper, phone), conducive to human error. Performance and responsiveness to maintenance and upkeep requests is patchy. Some are turning to Airbnb as one possible solution, but that comes with its own set of issues.

Enter Lyvly. Realizing that long-term residential property rental isn’t working for either side of this marketplace, Lyvly is setting out boldly to reshape the industry.

Lyvly is building living communities. Members don’t ‘just’ rent a property, but rather live in furnished homes in central locations and are able to participate in community events, take advantage of time-saving services, and engage with a connected network of like-minded neighbours. Lyvly provides the landlords with a better deal too: a turnkey property management solution and happy tenants who stay longer. It’s a win-win.

There are several elements to the secret sauce. One is that Lyvly has crafted a better ‘matchmaking service’: Lyvly’s system aims to match renters with housemates who have similar lifestyles or interests. At face value, this feels like a ‘nice to have’; but in real terms, it means that fabled ‘nightmare housemates’ can be minimized, with the consequence that tenants live together for longer periods (the average tenancy is 16-18 months). When someone does leave, the existing housemates are co-opted to fill the vacancy from the waiting list of Lyvly renters, reducing the likelihood of anyone eating the cost of an empty room.

Lyvly has re-centred the market around the individual renter, to the benefit of both the renter and the property owner.

The business model is elegant too. Unlike WeWork, Lyvly is asset-light. They do not own the properties or sign 10 year leases — instead they are a technology-enabled “managed marketplace” providing a full suite of services between landlord and tenant. It is a higher-touch version of Airbnb, which has satisfied an analogous need in short-term holiday lets.

‘Co-living’ is a new segment of the residential market, with several entrants on both sides of the Atlantic. We think Lyvly’s pioneering approach is well-positioned to win, not just because of their innovative model, but also due to the excellent team.

Co-founders, Phil Laney and Dario Favoino, are two residential property veterans. Each bring long-standing industry expertise and have managed large residential portfolios, valuable experience as the company expands. The third (non-exec) co-founder, Siraj Khaliq, is a proven tech entrepreneur who previously built Climate Corp into a $1B+ outcome. Phil has also attracted a strong bench of angel investors, including Greg Marsh from onefinestay as Chairman.

The residential long-term rental market is a multi-billion dollar asset class where business model innovation is long overdue. Welcome Phil and Dario to the Mosaic family!

Simon and Bart

 

Is this the end of the 'big tech' era? The 3rd internet cycle may well be on the horizon…

Is this the end of the 'big tech' era? The 3rd internet cycle may well be on the horizon…

Netscape, Lycos, Geocities. All familiar names from the 90s dotcom boom, but there remains just a handful of survivors from the legions of early applications in that first internet cycle. Very few, save Amazon and Google, managed to build large, valuable and enduring companies.

Why we invested in Veriff

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Since the credit crisis, we’ve observed massive growth amongst new entrants disrupting the banks and financial services incumbents: habito and Transferwise are two emblematic examples in our portfolio. Most recently, another category, crypto initial coin offerings (ICOs), has seen an extraordinary hockey stick. In parallel, the on-demand and sharing economies have crossed the chasm to reach the mass market as consumers have warmed to welcoming guests into their homes, driving cars/bikes/scooters they don’t own, and sharing a backseat (or: pick your local service) with strangers.

 

We’ve also seen API-based services in the tech stack becoming successful by powering these new offerings, among them Stripe for payments, Twilio for communications, and Checkr for background checks. However, a few “picks and shovels” elements of the stack continue to be pain points, with perhaps the most important strategically being online identity verification. Recently, it’s become evident that most of the ‘natural’ contenders for owning this whitespace (e.g. Facebook) have stumbled with their flagrant breach of privacy, and that has terminally compromised their trustworthiness as guardians of the user identity. “Don’t be evil” has morphed into “sorry, we screwed up.”

From our Yahoo! days, through the early efforts to solve this problem (e.g. openID), we have long recognized that “owning” online identity verification as a service would be a highly valuable and durable business, with massive network effects. It’s amazing that, writing in 2018, this is still an unsolved problem. Verification remains a key bottleneck today for startups to grow for three reasons: compliance, scalability and conversion.

Compliance: The ability to verify identity alongside a transaction is key to detecting and preventing fraud, as well as a legal obligation for financial services players. KYC (know your customer), a process that is required to initiate a money transfer, can be performed in a bank branch or post office, where physical scanners can verify documents and a human can check a driver’s license or passport to validate identity. But this requires a visit during office hours: it should be a more frictionless process online. As banks move to onboard customers digitally to match new upstarts, it’s become a key friction point for them too.

Scalability: Startups often build the identity verification function themselves; for example, Transferwise and Coinbase each have 100+ people focused on KYC and onboarding, while Airbnb and Uber also have massive trust and safety teams to verify users and to limit the creation of duplicate accounts. They sometimes augment these activities with third-party services (Jumio was an early player in this space) but despite these internal teams and third party providers, the function remains a huge pain point.

Conversion: Online KYC services not only have issues with false positives (allowing fraudsters through) but, just as painfully for consumers and businesses, false negatives. Users can have difficulty getting verified, and often meet with fluctuating KYC backlogs — not so long ago, cryptocurrency exchanges such as Kraken and Coinbase had a 6-week waiting time for some users to get verified. Delays drive consumers to find an alternative service or drop their pursuit of a product completely.

The stakes have recently increased, as KYC is becoming an increasingly important pain point due to privacy regulation, online banking and the explosion of crypto offerings, with the latter facing looming SEC regulation.

With all this is mind, we are delighted to be backing Veriff.

Veriff is a two-year old Estonian startup that has built a uniquely compelling approach to these issues, as it focuses on becoming the most effective provider for fraud reduction and conversion optimization. It works by users holding their ID cards up to the built-in camera in their laptop or mobile device. Veriff captures this alongside other data to either (i) approve user IDs with no human intervention, or (ii) in a small minority of cases, to triage to a customer service representative. This is enabled by improved camera quality in laptops and devices, and the increasing ability of machine learning to detect anomalies and suspicious behaviour.

Veriff’s go-to-market is also efficient, in that it’s the only current solution with a self-serve product. Within minutes, a customer or merchant can sign up without speaking to a rep, integrate Veriff’s SDK, and start verifying identification documents within their service. Its customers, who already include several innovative Baltic banks, as well as numerous online merchants and crypto startups undergoing ICOs, are able to reduce their cost base, and improve the overall user experience.

Even more ambitiously, one can imagine a future where learnings around identity theft and bad actors can be shared across Veriff’s customers anonymously, to reduce fraud continuously. Veriff can become the standard for digital identity and trust online.

There was another element to our investment thesis that really stood out: the founder. 23 year-old Kaarel Kotkas is an astonishingly impressive first-time entrepreneur, with a high-integrity north star. A graduate of the W18 Y Combinator program, Kaarel is building Veriff for all the right reasons, and has convinced experienced talent from leading Estonian startups, including Skype and Pipedrive, to join his company’s mission.

We are also delighted to be working once again with Transferwise co-founder Taavet Hinrikus, one of the early angel investors in Veriff, who first introduced us to Kaarel, and who is also joining the board as part of this Series A financing.

A few years pre- Mosaic in 2010, Simon came close to seeding Jumio, that at the time was focused on validating ‘card present’ credit card transactions. Since then, the problem of online verification hasn’t gone away, and we have continued to follow other entrants closely. With this broad background & prepared mind, when we learned about Veriff’s unique approach, we were immediately excited to make an offer to back Kaarel. All of us at Mosaic are thrilled to become his business partner for this journey.

Original Research: Sentiment of Seed Investors in Europe

Original Research: Sentiment of Seed Investors in Europe

Great entrepreneurs dream about creating new sectors, reshaping entire industries and fundamentally disrupting the status quo. Seed stage is the inaugural moment in every startup’s lifecycle, and often impacts the trajectory of a company’s journey. Investors who make these early bets, in no small part, help to shape the startup’s ability to succeed in the years to come.

The story of our investment in Docker (via Unikernel Systems) -- and why enterprises are running their business on their commercial platform

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It all began with an email intro from an old friend. I was introduced to Balraj Singh in 2014 by Adam Grosser, a buddy from my Silicon Valley startup years. Adam and I had worked closely together in the mid-late 1990s as early employees at @Home, the broadband pioneer.

I had known of Balraj (and his brother Amit’s) reputations from their successful previous startup, Peribit — a Foundation/Accel/Mayfield investment that pioneered WAN optimization, and was eventually acquired by Juniper. Following the exit, Balraj had migrated from the Bay Area to Britain, and mid-career decided to enroll in a PhD program at the Cambridge’s famous Computer Science Department. There, quite by chance, he began a collaboration with a very talented team in what became Unikernel Systems.

In doing our diligence, the three of us on the investment team at Mosaic were blown away by the quality of the team the Balraj had assembled including his fellow founders, CTO Anil Madhavapeddy (a tenured Cambridge professor) and Chief Architect Thomas Gazagnaire. The team had extensive backgrounds in deep systems technology. Anil and few others were part of the original Xen project team – Xen is the virtualization technology that powers the majority of the workloads in the cloud today.

In addition to their background in systems, the team was focused on an open source project called MirageOS, which centered on the idea of packaging only the minimal set of libraries necessary to run a specific application. MirageOS was a great technology, and had a number of applications. We weren’t the only ones who saw its potential…

Docker CTO Solomon Hykes also recognised the potential of both the technology and the Unikernel Systems team. He began to ideate on ways that the project could be leveraged in his developer software. Docker began to seriously to look at Unikernel Systems as an acquisition, just at the time as we were seriously interested in making a Series A investment! Fortunately for us, through our relationship with Peter Fenton at Benchmark (Docker Board member), we had the right introductions to the Docker leadership team and were able to participate in Series D of Docker in lieu of a direct investment in Unikernel Systems.

One of the most exciting outcomes of our investment is the success that Balraj’s team has had within Docker. That team was, and is, directly involved in the architectural and development work of Docker’s incredibly successful Desktop products: Docker for Mac and Docker for Windows. These solutions allow for a native Docker developer experience with a fast and easy installation, which was a major productivity leap forward for its users at the time of launch in 2016. These two solutions to this day represent the most successful developer tools in the entire container ecosystem; in fact in 2017 alone there were an additional one million developers using this software for the speed of development and consistency of dev environment they provide. It is also technology and work from the team that has resulted in successful delivery in the desktop solutions of an integrated Kubernetes distribution. The result is the easiest to deploy Kubernetes solution on the market for developers who want to develop natively in Docker but test deployment of their applications on the Kubernetes orchestrator.

Fast-forward to 2018, and Docker has recently celebrated its fifth birthday with technology that has evolved from open source developer tools to a complete enterprise container platform; Docker Enterprise Edition (Docker EE).  Docker EE is the industry’s leading enterprise-ready container platform that has been adopted by over 450 commercial customers including the likes of GE, GSK, MetLife and Societe Generale, etc., who seek a containerization platform to tackle their strategic digital and cloud initiatives.

Enterprises are looking to invest in a containerization platform that provides them the freedom of choice to innovate at their own pace and in their own way, without technology or infrastructure lock-in. It is organizations like MetLife who are taking hundreds of their existing applications and, with no re-coding, containerizing them and putting them in the Docker platform. The result is dramatic operational savings of over 50% that are then helping to fund innovation initiatives within these organizations in the areas of microservices and intelligent applications.

At Mosaic, we remain confident that even more is to come from the business, and we look forward to continuing our involvement!

Sometimes it takes a while to announce a new Mosaic portfolio company. In this instance, we invested in Docker in 2015! This is the story of that investment, and why we believe Docker has a very bright future.

Mosaic Ventures and Entrepreneur First (EF) in conversation with Reid Hoffman

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At an event earlier this year, Mosaic founding partner Toby Coppel sat down with LinkedIn founder Reid Hoffman, alongside the founders of EF, Matt Clifford and Alice Bentinck.

0100 Reid Hoffman on ‘Blitzscaling’

Reaching great scale at speed is Reid’s specialism. Drawing on his wealth of experience  building Linkedin, as COO of PayPal, and as an investor at Greylock, Reid has pioneered the idea of blitzscaling across the world, launching an excellent podcast series, multiple books, and lecturing at Stanford on the subject.

Toby asks Reid if he thinks that blitzscaling can work outside of Silicon Valley; specifically, can it work in Europe?

Reid explains that getting ‘really big, really fast’ is harder in Europe, but is far from impossible. The European entrepreneurial mindset — coupled with the usually more cautious legislative environment — may lead to a situation where European founders are more likely to study opportunities and move slowly, rather than moving quickly and grabbing large markets.

0220 Reid Hoffman on policy

Toby asks if Reid has any prescriptions for a healthy startup regulatory environment. Reid inverts the question - founders themselves should evaluate where it is most useful to ‘ask for permission’ (from legislators) first, and where it is most beneficial to drive forward and aim for scale.  

Reid offers some words of caution: governments will always want innovation to move slowly, and want entrepreneurs ‘to look before they leap’. Entrepreneurs need to be both aggressive and creative to overcome that attitude.

0430 Reid Hoffman on entrepreneurialism and universities (Europe is leading!)

Matt asks Reid if European universities can learn anything from their American counterparts: Reid is again quick to flip the implication. Reid believes that European universities are outperforming the US in putting university-wide structures and processes in place that encourage and develop entrepreneurial thinking in the academic world. In the US, Reid argues that campus-based innovation isn’t nurtured like it is in at Oxford, for example; instead it’s taken for granted.

0700 Reid Hoffman on the Silicon Valley mindset

Alice recalls Reid’s frequent description of  Silicon Valley as not a place, but a ‘state of mind’, and asks how we can translate this mindset into Europe.

‘The key thing is to understand that the future is in front of us’: so is essentially made of  finding new solutions and new jobs through entrepreneurship, not through working with old institutions. The creation of the new is more important than the preservation of the old. Once that is understood, Europe will be in a  SV ‘state of mind’

0900 Reid Hoffman on Europe’s leading position in AI

'There is no place more leading in the world in AI than here!' When asked about London’s position in the global AI landscape, Reid is unabashedly in London’s corner. Reid cites  the world-leading research at DeepMind, and the sheer number of excellent AI companies he sees in Entrepreneur First’s cohorts, as evidence of London’s deep, specialised talent pool.

Matt joins in to praise particular universities for their track record in creating great AI, ML and data science talent: Imperial, Oxford and Cambridge in particular. Entrepreneurs like the founders of DeepMind and Magic Pony have made every AI researcher in the country ask themselves , 'is there something entrepreneurial in what I’m doing?'

1200 Reid Hoffman on the potential impact of AI on the future of work

Toby asks Reid about how AI effects the future of work. Reid’s view is that if developments in AI are led by entrepreneurs — people who want to build companies — that these technologies will create a more jobs than they displace — at least over 'our lifetimes'.

If people ask, ‘what will these jobs be?’, Reid explains that the advent of AI will lead to the creation of new products and new services that will open up productivity. He also characterizes himself as a ‘techno-optimist rather than a techno-utopian’, warning  that we have to ‘work at it’, but maintaining that progress in AI could lead to ‘a massively optimistic future’.

1410 Reid Hoffman’s advice for kids at high school

Given that the world of work is changing at such pace, Alice asks what  Reid would advise young people yet to enter the workplace. Reid explains that students — as well as everyone else — need to think  of themselves as permanently learning. It doesn’t stop when you leave school or university, and the most successful entrepreneurs fall into the category of ‘infinite learner’.

Reid elaborates:some people are born to start companies, and others are brilliant at working inside companies. Whichever course is right for an individual, they need to be the ‘entrepreneur of their own life’, rationally deciding the best path and route forward.

1630 Reid Hoffman on General AI

Toby asks the trillion dollar question: when is general AI coming? Reid thinks people tend to 'undercount the unknown unknowns'. Even experts underestimate how much they don’t yet know, and underestimate how long it will take them to work out the answers. Accordingly, Reid doesn’t believe that General AI is just around the corner.

Furthermore, when (not if) AGI arrives, it won’t be the doomsday scenario predicted by Hollywood movies. Instead it will be a huge opportunity, a natural evolution of the technologies that have already 'cybernetically enhanced' human lives.
 

The Alchemy Store: reflections on AWS product announcements

The Alchemy Store: reflections on AWS product announcements

At the end of last year, Amazon Web Services announced a dizzying range of new products, which were presented to the London investor community during a recent blizzard. The background symbolism of the city transfixed by a once-in-a-generation snowfall was nicely equivocal: chilly disruption, but also stunning transformation, creating new possibilities.

Why we invested in Centrifuge - and a short love-letter to crypto in Berlin  

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Here at Mosaic, we have long been big believers in the power of decentralised infrastructure and applications, demonstrated by our past investments in Blockchain, Blockstream and Multichain. In parallel, we have been looking at the problems that financial supply chains cause companies, both large and small. In Centrifuge, it feels like we’ve found exactly the startup and founding team that we’ve been looking for.

Centrifuge’s experienced founders are building an open, decentralised operating system that aims to unlock closed, proprietary financial supply chains. This will enable commerce that is more open, connected and data-rich. Centrifuge has the potential to reinvent how companies transact, collaborate, exchange and pay. We are excited to lead the first investment round into the company together with our friends at BlueYard. 

The team behind Centrifuge has an incredibly impressive history of solving a related real business problem. The three co-founders - Maex Ament, Martin Quensel, and Philip Stehlik - have built several companies together, the latest being supply-chain-financing solution provider Taulia, which transacts with over 1.5 million suppliers from 164 countries and has provided over $100 billion of liquidity and early payments to SMBs. To fund that endeavour, over 8 years they raised $150 million from top tier VCs, so are experienced “repeat founders”. We are very pleased to partner with them on this new journey.

Supply-chain finance has always been of interest to Mosaic - we are attracted to the model of aggregating existing networks of suppliers through partnering with large purchasers and business networks. Yet problems exist: large enterprises struggle with the cost to on-board and validate new business partners; transacting parties do not own or control their own data; and third parties - such as funders or insurers - find it difficult to participate due to the lack of transparency.

With Centrifuge’s operating system, there will be a multitude of benefits including:

1) Easier access to funding for small suppliers from a marketplace of lenders enabled by the sharing of authenticated data across the network

2) Smart contracts that could allow payments to be triggered automatically after an order has been fulfilled, removing the need for invoices

3) Payment volume could be reduced and eliminated through a global business graph of transactions

4) Large purchasers could de-risk their supply chains through financing being available to every tier of the chain. For the crypto-geeks, their OS could even enable a supply chain to be organised as a DAO (decentralised autonomous organization)

It’s worth noting the significance of Centrifuge’s home-town, Berlin. The city is fast becoming a crypto hub, not just for Europe, but with global impact and ambition. The city has long been a petri-dish for experimentation in cryptocurrency, blockchain and open-banking. As early as 2012, payments were being accepted in bitcoin in record stores and cafes in edgy Kreuzberg. This fanatical early-adoption spawned a grassroots community of blockchain developers, and now a number of leading blockchain companies have significant developer teams in Berlin, including Parity, Gnosis and Consensys.

In addition, the German regulatory authority has been particularly active, engaged and permissive. BaFin published guidelines pertaining to cryptocurrency in 2013, and ruled very early on that companies didn’t need a licence to transact in bitcoin or alternative currencies, which removed a huge potential growth obstacle. Since then, BaFin has been quick to produce guidance on emerging crypto trends: everything from guidelines on ICOs to requirements for exchanges.

Together, the blockchain groundswell and legislative encouragement have nurtured a thriving crypto ecosystem. Centrifuge, who are enthusiastically hiring world-class engineers in Berlin, will surely benefit from the deep, knowledgeable and passionate talent pool of developers that the city now plays host to.  

Lastly, it is great to invest alongside BlueYard, whom we introduced to the company. Not many early stage funds have launched in Europe over the last few years - BlueYard and Mosaic are two of them. We are big fans of both their team and their thematic approach to investing, and we share their enthusiasm for the decentralised Internet. They, like us, exist to back very ambitious companies. With this in mind, Centrifuge was the perfect company to seed together.

We are looking forward to working with Maex, Martin and Philip.

Welcome to our new Venture Partner, Dr Jack Kreindler!

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It is with great pleasure that we welcome the latest addition to the Mosaic team, our new venture partner Dr Jack Kreindler. Jack is a serial entrepreneur and a world-leading physician and physiologist. He will work with our investment team to help us discover and evaluate the most exciting digital health companies in Europe.

Dr Kreindler has an incredibly impressive history and track record. In 2007, Jack founded CHHP, The Centre for Health and Human Performance, in London’s Harley Street. There he leads a cross-disciplinary team of medical experts who both work with world-class athletes on performance optimisation, and with clients to pro-actively improve their health, prevent disease and maximise “quality longevity” shrinking the gap between health-span and lifespan. Jack is also the Founder and Chairman of Sentrian, a company that aims to eliminate preventable hospitalization by using a combination of remote biosensors and machine learning to remotely detect patient deterioration.           

Earlier in his career, Jack worked as an A&E physician for the NHS in the UK for ten years, led Douglas Adams’ graphical user interface team for for h2g2.com (the first Wikipedia), and has even been on prime time TV in a heavyweight cage-fight in the name of medical ‘research’. I think it’s fair to say that he’s a polymath, and still has a few surprises up his sleeve.

We have long admired the size and scale of Jack’s ambition, and have frequently asked him to share his wisdom with our community, not only as an advisor behind-closed-doors, but also via an exceptional roundtable that we hosted together, which culminated in a podcast that warrants a listen for anyone interested in the future of healthcare.  Jack is particularly passionate about computational discovery in healthcare, whether for biopharma, early disease detection and other machine learning-driven applications.

Digital health is extremely important to us all at Mosaic, and we have a genuine desire to increase our commitment to the sector over the coming years. But we realise that healthcare is something you need to treat with respect, and the utmost diligence. Companies in digital health aren’t just making certain services smarter, quicker or more readily available; they are solving critical problems that will help people stay healthier for longer, or mean that people who live with medical conditions can lead better lives. These kind of companies are changing the world, and are the exactly the kind of companies we want to fund.

In Jack’s own words, “I'm really excited to join the Mosaic team. The track record of the team speaks for itself, and I can’t wait to start working alongside them. Healthcare technology companies have the power to change the world, and and I look forward to helping Mosaic identify and partner with the best founders in Europe”

 

Why we invested in Entrepreneur First

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Talented entrepreneurs have the ability to transform the global economy at unprecedented pace. Apple, Google, Microsoft, Facebook, Amazon and Alibaba are among the most valuable companies in the world. In each example, courageous founders have steered their companies to global prominence.

The economically transformative power of entrepreneurship is regularly celebrated by us at Mosaic and by our friend Reid Hoffman, the visionary entrepreneur behind LinkedIn, and now a partner at Greylock.

We touched upon the subject in the spring, as we drank tea and swapped stories in the Arizona desert. We were talking about startups, and mulling over the industrialisation of the startup ecosystem. Reid was a prolific angel investor before he joined Greylock, with over 80 investments, and he is involved with a number of initiatives that encourage entrepreneurship around the world, including his incredibly popular podcast series Masters of Scale and Stanford class on “blitzscaling”. He is also personally involved with two leading non-profits for entrepreneurship: Kiva and Endeavor Global.

With this in mind, we suggested to Reid that we should partner up to invest in Entrepreneur First, the pioneering company creation platform started by Alice Bentinck and Matt Clifford in 2012. Reid was instantly intrigued with the concept of EF, and organised to meet Alice and Matt two weeks later in Silicon Valley. Soon after, Mosaic and Greylock were officially collaborating to help EF continue their impressive onward journey.

EF can play a defining role in making technology entrepreneurship the career of choice for the most ambitious people in the world. Matt, Alice and the team work with individuals with deep technical backgrounds, and support them from day zero as they build companies from the ground up. This process helps turn world-class individuals into world-beating teams, all the while helping them develop ideas, grow their business, and overcome the cultural stigma that still surrounds startups, particularly in Europe.

YCombinator has achieved enormous success in Silicon Valley with its accelerator model, and has supported over 3,200 founders and 1,470 companies, including big successes such as Airbnb, Cruise, Docker, Reddit and Stripe. While it is comparatively early days for EF, to date they have helped over 350 individuals build 120 companies with a total valuation of over $1 billion.

Mosaic loves to work with mission-driven founders. We seek out the individuals who challenge convention, make bold decisions, and follow the courage of their convictions. Not only do Alice and Matt exemplify these traits, but they have created a programme that unearths future generations of startup founders.  

It was a true team effort at Mosaic that make this all happen - from Mike learning that EF wanted to raise money from a top tier US VC firm, Simon’s conviction that we should introduce EF to the very best people, and Toby’s five year history with Alice and Matt.  The Mosaic team have closely followed EF since the beginning, attending demo days, meeting their companies and enjoying the very special atmosphere and culture they have created with their founders - it is a real privilege to become a partner to such a unique company.

It goes without saying, if you have strong technical chops, and want to work on a highly ambitious startup, we highly recommend you apply to EF. The global economy is perpetually on the brink of being reshaped and working with EF will give you an unfair advantage if you want to go out and transform it.

 

 

Additional Recent Posts from the Mosaic Ventures Team:

Our Investment in Convoy Have you ever stopped for a moment to think about how the shirt you’re wearing arrived at the store? Or perhaps the workflow behind transporting your granola and smoothie to the local breakfast deli? While perhaps not the sexiest business for tech-savvy entrepreneurs, trucking is nevertheless a critical industry to every modern economy.  We're excited to be investing in Convoy alongside our friends at YC Continuity, Greylock (who led the Series A), Hadi, and many more. Read More

The Machine can see you now: a market framework for medical imaging Ask most AI researchers, and they’ll tell you that one of the biggest advances within artificial intelligence capabilities in the past five years has been in the sub-field of computer vision — in particular image recognition, which now performs as well as humans in many domains. Read More

You can follow us on twitter @Mosaic_VCLinkedinFacebook and Angelist

The machine can see you now: A market framework for Medical Imaging

The machine can see you now: A market framework for Medical Imaging

Ask most AI researchers, and they’ll tell you that one of the biggest advances within artificial intelligence capabilities in the past five years has been in the sub-field of computer vision - in particular, image recognition, which now performs as well as humans in many domains.

Our Investment in DataBerries

Our Investment in DataBerries

Over the past year Benoit, François, Guillaume and team have been hard at work bringing their vision to life, and we are excited to be investing again in their Series A alongside Dom Vidal at Index Ventures. It is a “Criteo reunion” of sorts, with other Criteo alumni investing alongside us — Pascal Gauthier (COO) and Greg Coleman (President).