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Thrive Capital has led a funding round of over $40 million for Rogo AI, a startup focused on automating research for investment bankers, which is now valued at up to $350 million. The investment reflects a resurgence in venture capital activity, particularly in the artificial intelligence sector, where prices for funding rounds are reportedly increasing. Observers note that while there are still promising deals available, many venture capitalists are pursuing higher-priced consensus deals, which may not yield the best returns. The competitive landscape for AI solutions in finance is intensifying, with Rogo AI positioning itself alongside other startups like Hebbia. The funding round is indicative of a broader trend where larger funds are becoming more active, potentially squeezing smaller funds out of lucrative deals.
Venture capitalists love to lecture entrepreneurs about returns, discipline, and exits. But look who's underperforming now: IRRs are tanking. LPs are fleeing. Most funds haven’t returned a cent. The bullies got humbled. Founders look better than their funders. https://t.co/ALoVA4OUA7
Exclusive: Thrive Capital Leads New Deal in Wall Street AI Startup Rogo Rogo AI uses OpenAI & Anthropic's LLMs, fine-tuned with financial data, targeting time-intensive Wall Street analyst work. 📊 Learn about Rogo's tech: https://t.co/eEolGtQzRZ #FintechAI
Thrive Capital is leading a $40 million investment in Rogo AI, valuing the startup at up to $350 million. Investors see AI as a solution for junior bankers, who often work long hours on repetitive tasks. Rogo AI is entering a competitive space with other startups like Hebbia https://t.co/gq4GYuc2RJ
