2021 continues to be a ground breaking year for Cervin Ventures. After a string of acquisitions in the first part of the year (Punchh, Nexient and Ampool), we are pleased to report that Tynker was acquired by BYJU’S, a leading global ed-tech company.
We are also very happy to report that two of our portfolio companies announced significant financing rounds this quarter. LaunchDarkly, a pioneer in using feature flags to improve software development lifecycle, announced a $200 million Series D at a $3 billion valuation. Paystand, a leader in B2B payments, announced a $50 million Series C.
Cervin also added a new company to its portfolio. ThirdAI is democratizing AI through software innovations.
On the organizational front, we continue to grow as well. We just added a new team member, Rohit Rao. He is joining us as an Associate, helping source, research, and analyze new companies, themes, and industries for potential investments. We are very excited to have Rohit on board!
The busy summer continued with Cervin participating in a number of events including seven Plug and Play events, Skydeck, Alchemist, StartX, YC, SaaStr and others.
Tynker - September 2021, exit to BYJU’S
Tynker, the world’s leading K-12 creative coding platform, has been acquired by BYJU'S, India's largest ed-tech company with 100 million users globally. Tynker’s coding curriculum has been used by one in three U.S. K-8 schools, 100,000 schools globally, and over 60 million kids across 150 countries. Tynker has partnered with a number of big names to develop programs including: Mattel, Apple, Microsoft, NASA and BBC Learning. Becoming part of the BYJU’S brand will allow Tynker to further expand and build upon this momentum. Congratulations to serial entrepreneurs Krishna Vedati, Srinivas Mandyam, and Kelvin Chong and the entire Tynker team for building a great platform. Good luck to you as you scale globally with BYJU’S.