Latest news with #CrosslinkCapital
Toronto Star
23-07-2025
- Business
- Toronto Star
Swift Navigation Secures $50M Series E to Accelerate Global Adoption of Centimeter-Accurate Satellite Positioning
SAN FRANCISCO, July 23, 2025 (GLOBE NEWSWIRE) — Swift Navigation, the leader in centimeter-accurate positioning for vehicle autonomy, robotics, and precision logistics, today announced the completion of its $50 million Series E financing round. Led by Crosslink Capital, the round saw strong participation from existing investors NEA, Eclipse Ventures, EPIQ Capital Group, First Round Capital, TELUS Global Ventures, and Potentum Partners alongside new investors Niterra Ventures, AlTi Tiedemann Global, GRIDS Capital, Essentia Ventures, Shea Ventures, and EnerTech Capital. This funding brings Swift Navigation's total capital raised to over $250 million, fueling its mission to revolutionize how we map and navigate the world with centimeter-level precision. Traditional Global Navigation Satellite Systems (GNSS), such as GPS, provide positioning with an accuracy range of 3 to 10 meters. Swift's Skylark™ Precise Positioning Service is a cloud-based service that corrects errors in GNSS signals, improving accuracy by 100x—to centimeter level. Skylark is purpose-built to enable mass market adoption of high-accuracy GNSS by unlocking high-volume applications in autonomous driving, robotics, precision logistics, and V2X communication.
Forbes
23-07-2025
- Automotive
- Forbes
Swift Navigation Lands Major Investment For Tech That Improves GPS
Swift Navigation has landed $50 million from a group of investors. The company's Skylark Precision ... More Location software improves GPS accuracy. Global positioning systems, or GPS, are great for helping to guide motorists to a location, or at least let them know where they are. However, GPS basically only gets you close, rather than to a precise spot. That may be fine for casual navigation, but it's not okay for advance driver assistance systems, or ADAS, which include automatic lane-centering, or for semi-autonomous driving systems that allow motorists to take their hands off the wheel for long stretches or make hands-off lane changes, or completely self-driving vehicles. As the auto industry moves towards vehicles with even higher levels of autonomy, the need for precise location technology becomes even more acute. A company that has developed such technology has captured the eyes, and financial backing of investors. San Francisco-based Swift Navigation completed its $50 million Series E financing round, the company announced Wednesday, bringing its total capitalization to more than $250 million. The round was led by led by Crosslink Capital, with participation from existing investors NEA, Eclipse, EPIQ Capital Group, First Round Capital, Telus, and Potentum alongside new investors Niterra Ventures, Alti Tiedemann Global, Grids Capital, Essentia Ventures, Shea Ventures, and Enertech Capital. 'We're expanding the reach of our global network, and then we're launching millions upon millions of cars live in our service,' said Swift co-founder and CEO Timothy Harris, in an interview. 'We already have several million on the road, but we have many different customer programs with different OEMs, and we're excited for some launches next year with some new OEMs that are launching next year as well.' 'Swift Navigation has built a game-changing solution for high-precision positioning, enabling autonomy and automation at scale," said Michael Stark, managing director and founder of Crosslink Capital, in a statement. GPS is actually a subset of Global Navigation Satellite System, or GNSS, which includes all navigation systems. While GPS is accurate to anywhere from three to ten meters, adding Swift's cloud-based application Skylark Precise Positioning Service vastly improves on that to a matter of centimeters by making corrections as the satellite signal travels through Earth's atmosphere, according to Harris. What can go wrong? Anything from inherent errors in satellites that are not in perfect orbits, to disruptions to GPS signals on their way to Earth-bound receivers. 'We actually model the atmosphere in real time. That's the core of our product now. Skylark itself just looks like a data service to get you centimeter accurate positioning behind that. We're modeling the atmosphere in real time. We're modeling the satellites, but it's really a software over-layer to the GPS,' Harris explained. While virtually all automakers use GNSS, about 70% of auto brands are currently using precise GNSS. Swift is working with around 20 automakers, according to Harris. Accuracy comparison between standard GPS and precise GPS provided by Swift Navigation. The urgency to improve a vehicle's location awareness comes as customers desiring, and willing to pay for, so-called L2+ autonomy systems such as General Motors Co.'s Super Cruise or Ford Motor Co.'s Blue Cruise, demand greater capabilities. 'So as we expand automated driving to new environments, what happens? We see more trees. We see more buildings,' said GM technical fellow Curtis Hay, during an April panel discussion on the subject at the American Center for Mobility, in which Swift also participated . 'We've got to solve those, as they become more important problems to tackle the automated drive down highways.' Indeed, Swift's Harris points out that precise positioning not only improves safety but its more exact location detection improves occupant comfort through greater reliability and with less jarring moves from automatic lane-keeping technology. There's a cost, however to all this, in an era where the average transaction prices of a new vehicles hovered at $48,907 in June, according to Kelly Blue Book. 'I cannot put this technology into a vehicle to force another $2,000, $3,000 on top of that, the price of that vehicle,' said Mark Barrott, a partner at management consultants Plante Moran, during the April panel discussion. 'It has to be affordable. It has to be useful, and my consumer has to understand how to use it, what benefit they're going to get.' Swift's Skylark addresses the cost issue by being able to provide precise location on lower-cost standard definition maps, rather than more expensive high-definition version, Harris pointed out. 'It's a data service that goes into the vehicle based on the distributed network. So there is an ongoing software cost element, but relative to the cost of putting in other big sensors, like LiDAR, it is a tiny fraction of cost,' said Harris. 'What that means is it hits the kind of the more mass market price point for ADAS systems. You're not talking about adding a huge amount of cost of the vehicle.'As Swift enjoys new investor support Harris says the company is expanding applications of its precise positioning technology to improving location accuracy for outdoor robotics, micromobility vehicles such as scooters, and fleet tracking and package delivery.
Yahoo
01-07-2025
- Business
- Yahoo
Longtime Bessemer investor Mary D'Onofrio, who backed Anthropic and Canva, leaves for Crosslink Capital
Mary D'Onofrio, who led Bessemer Venture Partners' investments in unicorns including Anthropic and Canva, has left to join Crosslink Capital, Fortune has exclusively learned. D'Onofrio will lead Crosslink's crossover fund, focusing on Series B-plus investments in AI vertical software and infrastructure. 'The world is changing so rapidly thanks to AI,' said D'Onofrio when reached by Fortune. 'I think there's an interesting opportunity to have a fun strategy that takes advantage of the dislocation that AI is creating…to invest in both new AI-native companies, and even to extend the runway for existing companies that might need to rethink their architecture or go-to-market in the context of that rapidly changing world.' D'Onofrio spent seven years at Bessemer, becoming a partner in 2021. Her Bessemer portfolio included Anthropic, Canva, Teleport, HashiCorp, Toast, and Wrapbook. At Crosslink she will be pursuing 'fewer, higher-conviction deals' as AI valuations remain high. When it comes to valuations, 'it's still a little bit of a tale of two cities,' said D'Onofrio. 'Some AI companies are getting valued incredibly highly. But the rationale is that there are massive TAMs [total addressable markets] that are going to be captured. You can argue there are a lot of services that will be added to historically constrained software to expand even further.' Crosslink—whose past and present portfolio includes BetterUp, Postmates, and Flume Health—made news recently amid fintech startup Chime's successful IPO. The firm led Chime's Series A in 2014 and was among Chime's largest shareholders (with about a 9.5% stake) as the company went public this month. D'Onofrio declined to comment on Chime. Crosslink, D'Onofrio said, has a three-pronged strategy of early-stage venture, growth, and public investing. 'It allows us to be pretty dexterous in terms of the companies Crosslink serves. So, for our immediate success stories, it can pull on different pools of capital and continue to invest. And for those that take more time—or that might see success and need a few years of finding their way—the firm could be really patient partners; they can invest truly across the life cycle.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
23-04-2025
- Business
- Business Wire
Navy Federal Chooses Bloom Credit for Consumer Permissioned Data Services
NEW YORK--(BUSINESS WIRE)-- Bloom Credit, a modern cash flow reporting and credit data infrastructure platform, today announced Navy Federal Credit Union, the largest credit union in the U.S., has selected its consumer permissioned data solution, Bloom+, as a new checking account feature for its 14 million members. "Bloom+ is a game changer and the size and scale of the partnership with Navy Federal reflects that. " Share Bloom Credit also announced a $10.5 million growth investment led by Crosslink Capital, including participation from existing investors Allegis Capital and Commerce Ventures. CT Innovations also joined the round. Bloom Credit will use the new funds to expand its team, technology, and go-to-market dedicated to credit data solutions. Bloom+ allows a financial institution to provide customers the ability to leverage existing payments from their checking accounts, such as rent, telco, and utility payments, to be reported as tradelines to the major credit bureaus. By using Bloom+ consumer bill repayment history becomes a powerful tool in building and demonstrating creditworthiness. 'Navy Federal understands the value of consumer permissioned data to help their members build a more accurate, comprehensive and complete credit profile. Prior to this moment, their members have had to rely on credit use to build credit worth. Now, with Bloom+, the member's checking account can provide a meaningful pathway to credit and financial access,' said Christian Widhalm, CEO of Bloom Credit. 'We are equally thankful for Crosslink and our investors who share our vision for innovating the infrastructure of modern credit data.' Bloom Credit launched Bloom+ in August 2024 to provide previously unavailable, bureau-agnostic, credit data reporting and furnishment for consumer and small business banking use cases. The Bloom+ white label, no code API allows banks and credit unions to offer checking account customers the ability to report bill payments as tradelines. The proprietary software, which can be launched with clients in as little as two weeks, helps financial institutions to attract and retain deposits, create revenue opportunities, and secure actionable cashflow insights on customers. 'Bloom+ is a game changer and the size and scale of the partnership with Navy Federal reflects that. It delivers value for consumers, visibility for lenders and exceptional growth potential for a product that is much needed in the market,' said Jim Feuille, venture partner, Crosslink Capital. The Navy Federal partnership and new capital investment follow the recent hires of former senior leader at Experian Christa Degnan as chief product officer and credit union solutions executive Tushar Mukhija as head of strategy and partnerships, credit union financial services. About Bloom Credit Bloom Credit is an API platform designed to modernize the infrastructure of the credit data ecosystem, including the enablement of real-time credit reporting, improvement in reporting accuracy, and expansion of the breadth of alternative consumer- permissioned data (CPD) provided to determine credit scores. Bloom Credit empowers its customers to launch and grow new classes of credit products by leveraging access, reporting and alternative CPD in a fraction of the time it has traditionally taken, leading to the development of important applications which can improve consumers' creditworthiness. Bloom Credit is a member of the American Fintech Council dedicated to promoting an inclusive and transparent financial system. Learn more at
Yahoo
29-03-2025
- Business
- Yahoo
Construction procurement platform BuildVision recieves $10m investment
Cloud-based construction procurement platform BuildVision has raised $10m via a Series A financing round, led by private equity company Norwest Venture Partners. Crosslink Capital, an existing investor, also contributed to the round, which takes the total capital for BuildVision to $13.8m. Using the fresh infusion, BuildVision aims to speed up the development of its platform and increase AI-driven automation. It will also use the capital to expand its reach among the top 100 Engineering News-Record contractors, as well as grow its network of building suppliers and original equipment manufacturer alliances. Norwest Venture Partners partner Sean Jacobsohn, who will join BuildVision's board, said: "Construction is one of the largest industries still plagued by inefficient, manual procurement. BuildVision is tackling this head-on with a digital-first platform that brings structure, transparency and automation to a historically fragmented process. "BuildVision offers a unique value proposition that helps contractors simplify the procurement process, offering more visibility, which drives down costs, reduces risk and speeds up construction timelines. We look forward to working with the team as they position BuildVision to become the dominant player in the multibillion enterprise construction software market." By leveraging data, BuildVision seeks to empower contractors with enhanced control over costs, improved transparency, and a quicker route to market. Its platform is claimed to enable up to a 20% reduction in costs and faster procurement times by enabling direct sourcing, eliminating the need for markups. It also strengthens supplier collaboration, maximises margins through aggregated demand, and provides real-time visibility into the procurement process. BuildVision CEO Mike Powers said: "Construction procurement is broken. By revolutionising how every component is sourced, purchased and financed, BuildVision is not just building software - we're creating a network that fundamentally changes how $300bn in building systems are procured annually. "Our latest round of funding enables us to accelerate adoption and help more contractors make smarter, faster procurement decisions - reducing costs, improving project profitability and reducing risk across the supply chain." BuildVision's platform centralises the procurement of key building systems such as chillers and switchgear. It brings together all relevant parties to source, purchase, and monitor equipment in real-time on a unified platform. The company's expansion strategy focuses on becoming a full-service procurement hub that includes financing, logistics, and supplier performance tracking. "Construction procurement platform BuildVision recieves $10m investment" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
