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Stock impact report

Ex-Splunk execs' startup Resolve AI hits $1 billion valuation with Series A [TechCrunch]

Alphabet Inc. - Class C Capital Stock (GOOG) 
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Company Research Source: TechCrunch
Series A led by Lightspeed Venture Partners, according to three people familiar with the deal. The headline valuation for the fresh round is $1 billion, sources said. However, the company's actual blended valuation was lower because of a multi-tranched structure. In this setup, investors purchased some equity at a $1 billion valuation but acquired the remainder — likely a larger percentage of the round — at a lower price. This novel investment approach has recently become popular for the most sought-after AI startups, investors say. The startup's annual recurring revenue (ARR) is approximately $4 million, two of the people said. The size of the funding round couldn't be learned. Resolve AI and Lightspeed didn't respond to our request for comment. Founded less than two years ago, the startup is led by former Splunk executive Spiros Xanthos and Mayank Agarwal, Splunk's former chief architect for observability. The duo's partnership dates back 20 years to their graduate studies a Show less Read more
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