Jane VC
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If you work for someone else, you likely know the drill: in comes that annual email reminding you that it’s time for unconscious bias or sexual harassment training, and if you could please finish up this mandatory module by this date, that would be terrific.
The email — not to mention the programming itself — is straight out of “Office Space.” Little surprise that when Anne Solmssen, a Harvard-trained computer scientist, happened to call a friend recently who was clicking through his own company-sponsored training program, his answer to how it was going was, “It’s more interesting when I have baseball on.”
Solmssen has some other ideas about how to make sexual harassment training far more interesting and less “cringe-worthy.” Indeed, she recently joined forces with Roxanne Petraeus, another Harvard grad, to create Ethena, a software-as-a-service startup that’s promising customizable training delivered in bite-size segments that caters to individuals based on how much they already know about sexual harassment in the workplace. The software will also be sector-specific when it’s released more widely in the first quarter of next year.
The company first came together this past summer led by Petraeus, who joined the U.S. Reserve Officers’ Training Corps to help defray the cost of her Ivy League education and wound up spending seven years in the U.S. Army, including as a civil affairs officer, before co-founding an online meals marketplace, then spending a year with McKinsey & Co. to get a better handle on how businesses are run.
Petraeus says that across her experience, and particularly in the Army, she had “great leaders” who were “thoughtful about their [reports’] development goals and what was happening in their personal lives, and brought out the best in their people, rather than making them feel less than or marginalized.”
Still, she was aware that from an institutional standpoint, most harassment training is not thoughtful, that it’s a matter of checking boxes on an annual basis to ensure compliance with different state laws, depending on where an organization is headquartered. She marveled that so much of the content employees are consuming seems “designed for a 1980s law firm.”
Solmssen was meanwhile working for a venture-backed public safety software company, Mark43. She was getting along just fine, too, but when a friend put the two in touch on the hunch that their engineering talent and vision could amount to something, that instinct proved right.
“I’d been working for Mark43 for four years, and I wasn’t particularly interested in starting a business,” Solmssen says. “But I fell in love with Roxanne and this idea, and I came to this thinking that someone needs to make [this training process] better. We’re still using the tools and technologies that we’ve had since 1997.”
So how is what they’re building different than what’s currently available? In lots of ways, seemingly. For starters, Ethena doesn’t want employees to “knock it out all at once” in an hour or two of training at the end of each year. Instead, it’s creating what it calls monthly “nudges” that deliver relevant studies and questions on a monthly basis — information that can then be used in an all-hands meeting, for example, helping to reinforce its goals.
It’s also focused on sending content and questions to people that’s iterative and that evolves based on how an individual responds. A new hire might answer very differently than a sponsor of other women within an organization, for example. It’s a stark contrast to to the black-and-white scenarios that every employee is typically presented. (Think: “Judy and Brian go to a bar after work.”)
These subtleties are a significant development, argues Petraeus, because “traditional training implicitly tells employees that going to spending time together outside of work is bad for mentorship. It’s why you hear things like, ‘I just hired my first female analyst; can I get into an Uber with her when we’re traveling?’ ” Turning every mixed-gender occasion into a potential minefield is “not the message we should be conveying.”
Yet it’s a message that’s being absorbed. According to a survey conducted earlier this year by LeanIn.Org and SurveyMonkey, 60% of managers who are men are now uncomfortable participating in a common work activity with a woman, such as mentoring, working alone or socializing together. That’s a 32% jump from a year ago. According to that same survey, senior-level men are now 12 times more hesitant to have one-on-one meetings with junior women, nine times more hesitant to travel together and six times more hesitant to have work dinners together.
Even the U.S. Equal Employment Opportunity Commission thinks sexual harassment training has gone wrong somewhere, noting that it hasn’t worked as a prevention tool in part because it’s been too focused on simply avoiding legal liability. Indeed, a few years ago, a task force studying harassment in the workplace on behalf of the EEOC concluded that “effective training cannot occur in a vacuum – it must be part of a holistic culture of non-harassment that starts at the top.” Similarly, it added, “one size does not fit all: training is most effective when tailored to the specific workforce and workplace and different cohorts of employees.”
Toward that end, and with compliance in mind, Ethena is also modernizing the content it delivers, including as it pertains to dating at work, which definitely happens; and inclusivity around pregnant colleagues, who are often subtly marginalized; and transgender colleagues, who can also find themselves feeling either misunderstood or overlooked by current sexual harassment training materials.
There’s also a heavy focus on analytics. If 60% of employees don’t know about a company’s policies around office dating, for example, or employees in an outfit’s marketing department appear to know less about an organization’s values than other departments, it will flag these things so managers can take preventative action. (“Say there’s a new manager in the LA office where employees seem to be answering less consistently,” suggests Solmssen. “We can provide additional training to get that person up to speed.”)
For Petraeus — who is the daughter-in-law of retired general and former CIA director David Petraeus — the overarching goal is to kill off mandatory yearly training where the takeaway for many employees, the fundamental standard, is, “Can I go to jail for this comment?”
It’s too soon to say if Ethena will be successful. It’s only halfway through a pilot training program at the moment. But Solmssen and Petraeus are strong pitchmen, and they say their software will be available beginning in the first quarter of next year for $4 per employee per month, which is on a par with other e-learning programs.
The startup has also won the support of early backers who’ve already given the months-old outfit $850,000 to start hiring. Among those investors: Neo, a venture fund started last year by serial entrepreneur Ali Partovi; Village Global; and Jane VC, which is a fund focused on women-led startups.
Numerous angel investors have also written Ethena a check, including Reshma Saujani, who is the founder of the organization Girls Who Code, and a handful of military veterans.
As for the last group, “they’re not a group that’s typically represented in startup ventures,” observes Petraeus, “but in terms of leadership and thinking about how to get a diverse team oriented around the same goal,” they’re hard to match.
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Kapwing is a laymen’s Adobe Creative Suite built for what people actually do on the internet: make memes and remix media. Need to resize a video? Add text or subtitles to a video? Trim or crop or loop or frame or rotate or soundtrack or… then you need Kapwing. The free web and mobile tool is built for everyone, not just designers. No software download or tutorials to slog through. Just efficient creativity.

In a year since coming out of stealth with 100,000 users, Kapwing has grown 10X, to more than 1 million. Now it going pro, building out its $20/month collaboration tools for social media managers and scrappy teams. But it won’t forget its roots with teens, so it has dropped its pay-$6-to-remove-watermarks tier while keeping its core features free.
Eager to capitalize on the meme and mobile content business, CRV has just led an $11 million Series A round for Kapwing. It’s joined by follow-on cash from Village Global, Sinai and Shasta Ventures, plus new investors Jane VC, Harry Stebbings, Vector and the Xoogler Syndicate. CRV partners “the venture twins” Justine and Olivia Moore actually met Kapwing co-founder and CEO Julia Enthoven while they all worked at The Stanford Daily newspaper in 2012.
Need to edit a meme or video? Kapwing has all the resizing, GIF, & subtitle tools you need https://t.co/FXDjShlUTq pic.twitter.com/1fEHxGoboz
— Josh Constine (@JoshConstine) September 24, 2019
“As a team, we love memes. We talk about internet fads almost every day at lunch and pay close attention to digital media trends,” says Enthoven, who started the company with fellow Googler Eric Lu. “One of our cultural tenets is to respect the importance of design, art and culture in the world, and another one is to not take ourselves too seriously.” But it is taking on serious clients.
As Kapwing’s toolset has grown, it has seen paying customers coming from Amazon, Sony, Netflix and Spotify. Now only 13% of what’s made with it are traditional text-plus-media memes. “Kapwing will always be designed for creators first: the students, artists, influencers, entrepreneurs, etc. who define and spread culture,” says Enthoven. “But we make money from the creative professionals, marketers, media teams and office workers who need to create content for work.”

That’s why in addition to plenty of templates for employing the latest trending memes, Kapwing now helps Pro subscribers with permanent hosting, saving throughout the creation process and re-editing after export. Eventually it plans to sell enterprise licenses to let whole companies use Kapwing.

Copycats are trying to chip away at its business, but Kapwing will use its new funding to keep up a breakneck pace of development. Pronounced “Ka-Pwing,” like a bullet ricochet, it’s trying to stay ahead of Imgflip, ILoveIMG, Imgur’s on-site tool and more robust apps like Canva.
If you’ve ever been stuck with a landscape video that won’t fit in an Instagram Story, a bunch of clips you want to stitch together or the need to subtitle something for accessibility, you’ll know the frustration of lacking a purpose-built tool. And if you’re on mobile, there are even fewer options. Unlike some software suites you have to install on a desktop, Kapwing works right from a browser.

” ‘Memes’ is such a broad category of media nowadays. It could refer to a compilation like the political singalong videos, animations like Shooting Star memes or a change in music like the AOC Dancing memes,” Enthoven explains. “Although they used to be edgy, memes have become more mainstream . . . Memes popularized new types of multimedia formats and made raw, authentic footage more acceptable on social media.”
As communication continues to shift from text to visual media, design can’t only be the domain of designers. Kapwing empowers anyone to storytell and entertain, whether out of whimsy or professional necessity. If big-name creative software from Adobe or Apple don’t simplify and offer easy paths through common use cases, they’ll see themselves usurped by the tools of the people.
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Want to pitch a venture capitalist? You’ll need a “warm introduction” first. At least that’s what most in the business will advise.
Find a person, typically a man, who made the VC you’re interested in pitching a whole bunch of money at some point and have them introduce you. Why? Because VCs love people who’ve made them money; naturally, they’ll be willing to hear you out if you’ve got at least one money-maker on your side.
There’s a big problem with that cycle. Not all entrepreneurs are friendly with millionaires and not all entrepreneurs, especially those based outside Silicon Valley or from underrepresented backgrounds, have anyone in their network to provide them that coveted intro.
Jane VC, a new venture fund based out of Cleveland and London, wants entrepreneurs to cold email them. Send them your pitch, no wealthy or successful intermediary necessary. The fund, which has so far raised $2 million to invest between $25,000 and $150,000 in early-stage female-founded companies across industries, is scrapping the opaque, inaccessible model of VC that’s been less than favorable toward women.
“We like to say that Jane VC is venture for every woman,” the firm’s co-founder Jennifer Neundorfer told TechCrunch.
Neundorfer, who previously co-founded and led an accelerator for Midwest startups called Flashstarts after stints at 21st Century Fox and YouTube, partnered with her former Stanford business school classmate Maren Bannon, the former chief executive officer and co-founder of LittleLane. So far, they’ve backed insurtech company Proformex and Hatch Apps, an enterprise software startup that makes it easier for companies to create and distribute mobile and web apps.
“We are going to shoot them straight.” — Jennifer Neundorfer
Jane VC, like many members of the next generation of venture capital funds, is bucking the idea that the best founders can only be found in Silicon Valley. Instead, the firm is going global and operating under the philosophy that a system of radical transparency and honesty will pay off.
“Let’s be efficient with an entrepreneur’s time and say no if it’s not a hit,” Neundorfer said. “I’ve been on the opposite end of that coaching. So many entrepreneurs think a VC is interested and they aren’t. An entrepreneur’s time is so valuable and we want to protect that. We are going to shoot them straight.”
Though Jane VC plans to invest across the globe, the firm isn’t turning its back on Bay Area founders. Neundorfer and Bannon will leverage their Silicon Valley network and work with an investment committee of nine women based throughout the U.S. to source deals.
“We are women that have raised money and have been through the ups and downs of raising money in what is a very male-dominated world,” Neundorfer added. “We believe that investing in women is not only the right thing to do but that you can make a lot of money doing it.”
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