Roughly a year-and-a-half after closing its second $25 million seed stage fund, Lerer Ventures is in the processing of raising money for a third. An SEC filing, first noted by TechCrunch, says the size of the round is $30 million.
Although the Form D indicates that the early-stage venture capital firm has yet to sell, expect the round to close quickly.
Last May, it only took Lerer Ventures “a matter of weeks” to raise that $25 million from individuals and family offices. And that was before the highly-regarded New York City firm–launched by Huffington Post cofounder (and Betaworks and Buzzfeed chairman) Ken Lerer and his son Ben Lerer, cofounder of Thrillist–boasted a handful of exits.
the startup rundown
HILL COUNTRY. Made in NY: Austin will celebrate New York based tech startups at South by Southwest on March 11 from 6 p.m. to 12 a.m. at the Fast Company Grill at Cedar Door in the Texas Capital. The event will be hosted by Gust, and the New York Tech Meetup and will be attended Read More
Hyperpublic, the two-year-old startup helmed by Lerer Ventures partner Jordan Cooper, has been acquired by Groupon for an undisclosed price.
On Friday, Mr. Cooper teased the news with a few ellipses on Twitter before linking to the announcement. “Today is an INSANE day! We are so proud to announce that Hyperpublic has been acquired by the rocket ship that is Groupon,” Hyperpublic wrote. “This is a huge win for our team, our investors, and everyone who contributed to our company over the past two years.” Then there was a party at The Standard, natch.
Hyperpublic is a relatively new startup with a very ambitious agenda, to organize the world’s geodata and in effect index online what exists where in the physical world. To get there, the company will have to pair a huge machine learning and big data effort with a killer consumer product that layers on great metadata.
In many ways this project resembles the work being done by Joe Einhorn at thingd. Mr. Einhorn is trying to be the “thing” layer on the web, tagging every object in every image, whether it’s part of a Conde Nast photo spread or a personal blog about toy cars. Except Hyperpublic is going after the people, places and things in the real world.
To make this all happen, Hyperpublic has hired Jeff Weinstein as their President. Mr Weinstein was head of R&D at Comscore and was reportedly being recruited by Google before Hyperpublic snapped him up.
Brand new start-up Hyperpublic is taking a novel strategy to wooing tech talent by gamifying the process with a two-part programming challenge.
“We just felt like there is so much noise out there,” founder Jordan Cooper told The Observer. “Tons of companies with no real engineering culture begging for engineers to come work with them.”
The Read More
It’s common in a metropolis like New York for people to ignore the majority of what goes on around them. Without that filter, we would all go a bit crazy.
But Hyperpublic, a startup that launched this morning, thinks users might be interested to learn about the people, places and things they pass by everyday. Read More