11. March 2025
General Catalyst Seals Big Month As Venture Firms Go Quiet
The February Investment Landscape: A Month of Quiet Activity for Most Firms, but a Busy One for General Catalyst
February is often considered one of the shortest months of the year, with only 28 days on the calendar. However, when it comes to venture capital firms and their investments in U.S.-based startups, this short month can be quite eventful. In fact, February was a relatively slow month for most big-name venture firms, with only General Catalyst recording a double-digit number of deals.
General Catalyst had its busiest month in over a year, co-leading the massive $305 million funding round for Together AI at a whopping $3.3 billion valuation. This deal showcased the firm’s commitment to investing in cutting-edge technologies and highlighted the growing interest in artificial intelligence (AI) and machine learning among venture capital firms.
Together AI is a cloud platform that enables developers to build on open and custom AI models, which has significant implications for various industries, including healthcare, finance, and retail. The company’s valuation of $3.3 billion underscores the potential of AI-powered solutions in transforming businesses and creating new opportunities.
General Catalyst also led the $200 million Series E for Verkada, a developer of security systems for the real world. This investment demonstrates the growing demand for robust security measures in various industries, including healthcare and finance. Verkada’s technology has the potential to revolutionize the way organizations protect themselves from cyber threats.
Furthermore, General Catalyst took part in autonomous surface vessels maker Saronic’s $600 million Series C led by investor Elad Gil and Eikon Therapeutics’ $351 million Series D. These investments demonstrate the firm’s willingness to support companies working on innovative technologies that have significant applications in various industries.
Lightspeed Venture Partners had its busiest month since last October, investing in eight rounds involving U.S.-based startups. The VC giant co-led satellite platform developer K2 Space’s $110 million Series B with Altimeter Capital. This investment highlights the growing interest in space technology and the potential for satellite-based solutions to transform various industries.
Lightspeed also participated in a slew of big rounds, including Saronic’s massive raise, medical document startup Abridge’s $250 million round co-led by Elad Gil and IVP, and application security startup Semgrep’s $100 million Series D funding led by Menlo Ventures. These investments demonstrate the firm’s commitment to supporting companies working on innovative technologies that have significant applications in various industries.
Andreessen Horowitz had an unusually slow month, consummating just a half-dozen deals – its lowest total since last April. However, it did take part in Saronic’s massive raise and AI-powered fraud detection platform Sardine’s $70 million Series C led by Activant Capital, and San Francisco-based usage-based billing platform Metronome’s $50 million Series C led by New Enterprise Associates.
First Round Capital makes this list for the first time as it doubled its investment totals from January. The biggest round the early-stage investor took part in last month was the previously mentioned K2 Space round. First Round also took part in the $49 million Series B for San Francisco-based Fal, a generative media platform for developers to create applications. It also led a $6.5 million round for legal tech startup And AI.
The growing interest in space technology and AI-powered solutions is transforming various industries and creating new opportunities. General Catalyst’s involvement in these deals demonstrates the firm’s focus on investing in innovative technologies with vast growth potential. Meanwhile, Lightspeed Venture Partners and Andreessen Horowitz are focused on supporting companies working on cutting-edge technologies that have significant applications.
As we move forward into the next quarter, it will be interesting to see how these firms continue to evolve and adapt to the changing landscape of venture capital investing. With new technologies emerging all the time, it’s essential for investors to stay ahead of the curve and identify opportunities that can drive growth and innovation.