By Roxane Googin, Chief Futurist, Group 11 and Dovi Frances, Founding Partner, Group 11

Someday a human being, named perhaps Fred White, may shoot a robot named Pete Something-or-other, which has come out of a General Electrics factory, and to his surprise see it weep and bleed. And the dying robot may shoot back and, to its surprise, see a wisp of gray smoke arise from the electric pump that it supposed was Mr. White’s beating heart. It would be rather a great moment of truth for both of them.

Dick, Philip K. “The Android and the Human” 1972


I don’t believe in first impressions
For just this once I hope that looks don’t deceive
I ain’t got time for true confessions
I’ve got to make the move right now
Got to meet that girl somehow

Get it right the first time
That’s the main thing
I can’t afford to let it pass
You get it right the next time that’s not the same thing
Gonna make the first time last.

Billy Joel’s, The Stranger Album 1977, “Get it Right”

We all remember the moment when we did something for the first time.

Riding a bike for the first…

“…What ya’ think all the guns is for?

All-purpose war, got the Rottweilers by the door

And I feed ’em powder so they can devour

The criminals tryin’ to drop my decimals…”

Warning, Notorious B.I.G, September 1993

Earlier this week I spoke with a young VC who was touting his performance and the couple of recent unicorns he had invested in “back in the day” in 2018.

Following that meeting, I intended to write a quick piece about how crazy it is that we now have 780 tech unicorns with a cumulative value of $2.5TN. So much that almost all…

By Michelle Chang, Senior Associate, Group 11

Today, Sunbit announced a $130MM Series D financing led by Group 11 with participation from previous investor Zeev Ventures, as well as new investors Migdal Group, Harel Group, AltaIR Capital, and More Investment House.

The round values the company at a $1.1BN post-money valuation, adding Sunbit to the Global List of Tech Unicorns, making it the fifth in Group 11’s continuously growing stable of unicorns. This is a major milestone not only for the company but also for Group 11 as it is the first time we are inducting a unicorn by leading…

Almost five years ago, on July 7th 2016, Sunbit’s Co-Founder and CRO, Tal Riesenfeld, introduced me via email to Co-Founder and CEO Arad Levertov. We met a couple of weeks following that introduction at a small office in Westwood Los Angeles back then when breathing near others maskless was acceptable.

At that brief forty minute meeting, Arad and Tal presented Sunbit’s product. Co-Founders Tamir Hazan and Ornit Dweck Maizel (Head of Analytics and CTO, respectively) also joined via conference call from their R&D center in Binyamina, Israel and shared their vision for the company.

I admit that after seeing the…

Today, Group 11 announced closing a $55MM Series B investment in Lili, the fastest growing mobile-app providing banking services for freelancers in the US. Led by serial fintech entrepreneurs, CEO Lilac Bar David and CTO Liran Zelkha, the mobile-first app has had a record first quarter, and at Group 11, we think it’s only the beginning for what Lili will become.

How Lili is a leader in Mobile Banking

Why are we conducting this fundraise only six months after Group 11 led Lili’s Series A, and less than a year after their Seed round? I’d first direct you to get…

“Every revolution was first a thought in one man’s mind, and when the same thought occurs to another man, it is the key to that era.”

― Ralph Waldo Emerson

I am excited to announce today the first close of >$120mm for Group 11’s fifth FinTech fund.

Today’s announcement marks the culmination of the good faith and efforts put together by dozens of people that partnered with Group 11 since its inception to achieve this impressive (and initial) outcome.

When the team and I set to raise Fund V less than 90 days ago, we made the strategic decision to…

By Devon Morris, Partner, Group 11 and the Group 11 Team

Less than a year after Group 11’s initial investment, and only five months since the company’s Series B led by Scale Venture Partners, we are pleased to announce that Papaya Global has completed a $100MM Series C round led by Greenoaks Capital, with participation with Group 11 and existing investors. This raise values the company at $1.1BN and adds Papaya to the Global List of Tech Unicorns, making it the fourth in Group 11’s continuously-growing stable of unicorns.

Greenoaks Capital will join existing Papaya investors: Scale Venture Partners, Insight…

A Whole New World: How EquityBee is Creating The Private Stock Market of the Future

By Michelle Chang, Senior Associate, Group 11

EquityBee announced today a $20MM Series A financing round led by Group 11 with participation from new investor Zeev Ventures as well as existing investors Altair Capital, Battery Ventures, and LocalGlobe. This is the second time over the past two years that Group 11’s has led a financing round in EquityBee, having also led their most recent financing round back in February 2020.

We believe EquityBee is completely reimagining the private liquidity market of the future by helping…

By Devon Morris, Partner, Group 11

Today, TripActions announced closing a $155MM Series E round at a $5BN post-money valuation. The round was co-led by Addition, Cosmic Capital, and existing investor A16Z who joined other existing investors Greenoaks Capital, Vista Equity Partners, Lightspeed Venture Partners, Zeev Ventures, and Group 11.

Despite an incredibly turbulent year amidst COVID, TripActions continued to build out its platform, and launched and expanded TripActions Liquid. It now has over 4,000+ global customers like Glassdoor, GameStop, and Mozilla, and added new 2020 customers such as: Heidrick & Struggles, Mastec, SVB, ISG, American Tower, and many others…

Dovi Frances

Dovi Frances is a financial services entrepreneur and founding partner of Group 11, a venture capital firm based in Los Angeles, California.

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