Rocketship has closed second fund – totaling $100 million – to help democratize access to venture funding through the power of data science.
This new fund is a major validation of our founding thesis that data is eating venture capital.
Rocketship started in 2015, it was with the idea that data science and machine learning would play a major role in the future of venture investing – similar to the way it has disrupted retail, finance, healthcare, and other industries.
In the years since Rocketship have seen the globalization of entrepreneurship as mobile-first (and mobile-only) regions like Asia, Southeast Asia, Latin America, and Europe build thriving startup communities.
The past six months have seen major developments in healthcare, public policy and social justice that have only accelerated the startup globalization trend. COVID-19 has changed the way venture firms are engaging with startups, with pitches over Zoom and term negotiation over WeChat.
Stricter immigration policies for tech workers and students are convincing aspiring founders that starting in-country makes sense regardless of -COVID. In parallel, the fight for social justice and a renewed focus on racial and gender diversity in technology and venture capital highlights the need for a new, unbiased approach to identifying investments.
Using the same data science principles Rocketship founding team used at Amazon, Walmart Labs, Kosmix and NASA, had built highly vetted models that help us identify new and exciting companies from Silicon Valley to Singapore, Stockholm to Shanghai, and Brazil to Bangalore.