Zetta Venture Partners - the venture capital firm exclusively focused on AI - building on the success of its previous two funds, announced a new fund closing to invest in more AI-first companies. Our investment in this third fund aims to deepen our portfolio in the AI market.
Founded in 2013 in San Francisco and led by Mark Gorenberg, Ash Fontana, and Jocelyn Goldfein, Zetta leads investment rounds in pre-traction, AI-first companies with B2B business models. Their mission is to support the pioneers of this era, helping them to establish customer traction for AI products.
The fund has now supported many companies, including Kaggle, Domo, Clearbit, Domino Data Lab, Tractable and Invenia.
"We help companies solve the specific challenges of building an AI-first company, such as gathering data, building machine learning teams and marketing the value of predictive systems, because we believe that is very important the use of the information in the understanding the system and get competitive advantage."
said Ash Fontana - managing director of Zetta Venture Partners.
The change of the industry thanks to AI:
When Zetta was founded, machine learning was in its infancy and enterprise software companies were far behind their consumer counterparts in recognizing the value of their data. Over the past seven years, they’ve seen a meaningful change: AI is deployed in a wide range of industries to assist and augment people, as to automate repetitive tasks. Nowadays, unlike in the past, AI companies do not sell workflows but predictions, the idea is to collect valuable data, use it in the training of predictive models and then employ the results to automate work.
What’s the AI future?
They believe that building AI companies has never been more compelling:
"AI has largely been about augmenting and automating human labor. But the next wave of AI is about creating and understanding complex systems such as the environment, human biology, cybersecurity and the global economy."
said Mark Gorenberg - founder and managing director of Zetta Venture Partners.est CEO