Last Updated on: 8th November 2024, 05:08 am
Emerge, a venture capital firm focused on early-stage funding, has successfully closed an oversubscribed $73 million Fund II. With backing from more than 100 leading experts in future-of-work and learning, this second fund more than triples Emerge’s assets under management, now totalling $100 million.
Founded by partners from diverse backgrounds, including immigrants and working-class families, Emerge is dedicated to expanding access to opportunity. Their goal is to support early-stage founders whose companies are enhancing education, career navigation, and AI in the workplace, thereby democratising access to career growth and learning.
Prominent investors in Fund II include KfW Capital, Laerdal Invest, Jacobs Foundation and Southern New Hampshire University. Over the last decade, Emerge has invested in over 80 companies, which now have a collective valuation exceeding $2 billion and have positively impacted more than 31 million people worldwide. The portfolio has seen multiple successful exits and includes innovative companies such as Solvely, Colossyan and Popp, transforming the way we work and learn through AI.
Emerge distinguishes itself as a thesis-focused and community-supported investor. Unlike typical VCs, Emerge is powered by over 100 Venture Partners, including CEOs and founders from industry leaders like Udemy, Coursera, Kahoot, and Andela, as well as senior HR leaders from Fortune 500 firms such as IBM, Boeing, and McDonald’s.
These Venture Partners contribute throughout a company’s journey, helping to accelerate product-market fit and Series A funding. They play a role in sourcing new deals, guiding the diligence process, and often co-invest or advise startups. With over half of these Venture Partners based in the US, Emerge is well-placed to connect European founders with international markets, especially in North America.
The closing of Fund II follows multiple successful exits for Emerge, including Zavvy’s acquisition by Deel earlier this year, as well as numerous portfolio companies seeing significant up-rounds from leading investment firms. Examples include Yoto ($22M Series B led by the Chan Zuckerberg Initiative); Edurino (€10.5M Series A led by DN Capital); Mattilda ($19M Series A led by GSV); and Unibuddy ($20M Series B led by Highland Europe).
Investments already out of Fund II include Colossyan, the AI video platform for workplace learning that enables users to create videos from text with AI avatars. In June this year, Colossyan announced a $22M Series A with new investors including Lakestar (known for their collaborations with leading companies such as Revolut and Spotify).
“AI is reshaping how we learn, find and do our jobs, and the companies that harness this shift will define the future. With the expertise of our Venture Partners – who’ve built some of the world’s leading future of work and learning companies – we’re equipping founders with the strategic insights they need to seize this unprecedented opportunity.”
– Jan Lynn-Matern, founder and GP
“The choices we make now about how to move forward as a society – whether we take everyone with us or not – will determine whether AI ultimately exacerbates or reduces inequalities. Working with Emerge to solve these challenges is one of the most rewarding experiences of my life: I get to do what I do best, coaching world-class entrepreneurs who are building companies that will define the future of work and learning. And it’s a pleasure to do so alongside a team that cares deeply about its mission and has access to the best entrepreneurs on the planet.”
– Christina Sass, CEO, International Youth Foundation; founder, Andela; Emerge VP
“Emerge has unrivalled dealflow and insights in this space, not to mention lived experience, which they bring together with a unique approach to investing: a world-leading Venture Partner community, gathered to support companies that help every individual adapt and thrive in an AI-powered world. It’s inspiring to be part of this community enabling me to empower the next generation of entrepreneurs to solve the biggest problems of our time.”
– Abakar Saidov, CEO, Beamery
“Emerge has been a great partner – their excellent reputation, deep understanding of the future of work and learning sector, ability to move quickly and the immense value added by their Venture Partners network were the main reasons we chose them over other funds at our Seed round.”
– Sean Hirons and Kharis Yanakidis, co-founders, MyEdSpa
