## Saudi Investment Powerhouse Backs Tech Startup

The **venture capital arm** of Saudi Arabia’s **sovereign wealth fund** has made a significant move by backing a **$135 million fundraising round** for **iMENA Holding**, a technology firm with ambitious plans for an **initial public offering (IPO)** in the kingdom.

Sanabil Investments, a key player in this investment, partnered with notable investors including **New York-based VC firm FJ Labs**. This funding round marks a pivotal moment for iMENA as it aims to **restructure** itself into a Saudi company and establish its base in **Riyadh**, gearing up for a **listing on the local stock exchange** within the next two years.

The venture capital arm of Saudi Arabia’s sovereign wealth fund has backed a $135 million fundraising round for technology firm iMENA Holding as the company plans for an initial public offering in the kingdom.

Saudi Arabia's Sovereign Fund Fuels iMENA Holding's IPO Ambitions with $135 Million Investment

**Sterling Anderson**, a key figure in the autonomous vehicle sector and co-founder of **Aurora**, has announced his resignation just a week after the company launched its **commercial self-driving truck service** in Texas. Anderson, who served as the **Chief Product Officer**, will leave his position on June 1 and depart from the board by August 31.

![Sterling Anderson](https://techcrunch.com/wp-content/uploads/2022/04/Sterling-Anderson-1.jpg?w=1024)
*Image Credits: Aurora*

### A Sudden Departure
Anderson's resignation was disclosed in a **regulatory filing** alongside Aurora's first-quarter earnings. The company emphasized that his departure was not due to any disagreements but rather an opportunity for Anderson to take on a **senior leadership role at a global company**.

During the earnings call, Anderson expressed mixed emotions about his decision: 
> "Leaving Aurora is one of the most difficult decisions I’ve ever made, especially given the exciting stage Aurora is at. This is precisely what gave me the confidence that now is the right time."

### Aurora's Journey
Anderson co-founded Aurora in 2017 with **Chris Urmson** and **Drew Bagnell**, both veterans in the autonomous vehicle space. The startup quickly gained traction, attracting investments from **Sequoia Capital, Amazon, and T. Rowe Price Associates**. In 2020, Aurora made headlines by acquiring **Uber's self-driving unit**, Uber ATG, in a deal that valued the combined entity at **$10 billion**.

Aurora went public in 2021 via a **SPAC merger** but has faced challenges as a **deep tech company** still in development. The company recently achieved a milestone by launching its **self-driving truck service in Texas**, narrowly meeting its deadline.

### What’s Next?
With Anderson's departure, Aurora faces a critical transition. The company has assured stakeholders that its **product strategy and technology** are firmly established, and the team is ready to scale. However, the loss of a co-founder raises questions about the future direction of the startup.

Sterling Anderson, a veteran of the nascent autonomous vehicle sector and co-founder of Aurora, is resigning just a week after the company launched its

Aurora's Co-Founder Exits Amidst Self-Driving Truck Launch: What's Next for the Startup?

**Social media startup Fizz**, known for its Gen Z-focused platform on over 400 college campuses, has filed a lawsuit against **Instacart** and **Partiful** for trademark infringement. The dispute arises from Instacart's launch of a new drinks and snacks delivery app also named Fizz, which Partiful has integrated into its platform.

![Fizz App](https://techcrunch.com/wp-content/uploads/2025/05/fizz-app.png?w=680)
*Image Credits: Instacart*

### **The Lawsuit Details**
Fizz, which has been using the **FIZZ** trademark since January 2022 and filed for registration in December 2021, accuses Instacart and Partiful of:
- **Common law trademark infringement**
- **Federal trademark infringement**
- **Cybersquatting**
- **Violating California’s unfair competition laws**

The lawsuit seeks a **jury trial, injunctive relief, damages, and a court order** to prevent the use of the FIZZ name in connection with social or event planning services.

### **Allegations of Bad Faith**
Fizz claims that Instacart and Partiful's use of the FIZZ name is a **blatant attempt to misappropriate** the goodwill Fizz has built among Gen Z. The startup alleges that the defendants are exploiting its brand recognition to confuse the same demographic, potentially leading customers to believe the new service is affiliated with Fizz.

### **Previous Legal Actions**
This isn't Fizz's first legal challenge; the startup previously sued rival **Sidechat** in 2023 over unfair competition practices.

Instacart and Partiful have yet to respond to the allegations.

Social media startup Fizz is suing Instacart and Partiful for trademark infringement over the new Fizz drink and snacks ordering app.

Gen Z Social App Fizz Takes Legal Action Against Instacart and Partiful Over Trademark Dispute

**Clay**, a sales automation startup, has made headlines with its latest employee tender offer at a **$1.5 billion valuation**, led by **Sequoia**. This move comes after seven years of relentless effort by co-founder and CEO **Kareem Amin**, witnessing the company's explosive growth since 2022. From a modest team size, Clay has expanded to over 200 employees, serving thousands of customers including giants like **OpenAI, HubSpot, and Canva**.

### A Win-Win for Employees and Investors
Clay is allowing employees with at least a year of tenure to sell some of their shares at a premium, with Sequoia purchasing up to **$20 million in employee stock**. This initiative not only provides liquidity to employees but also reflects Sequoia's confidence in Clay's future. **Alfred Lin**, a partner at Sequoia, praises Clay's creative approach and its unique decision to involve employees in its financial success.

### Community and Growth
In an unprecedented move, Clay also offered its community members the chance to invest in the startup at the same valuation as its Series B investors, raising about **$3 million** in a community round. This strategy underscores Clay's belief in collective growth and ensuring that the gains are shared beyond just a few individuals.

### Looking Ahead
Despite the opportunity to cash out, many employees are expected to hold onto their shares, anticipating even greater value in the future. Amin envisions making such tender offers an annual event, hoping to inspire other startups to follow suit in offering employee liquidity.

It took seven years of hard work for Kareem Amin, co-founder and CEO of sales automation startup Clay, to see the company's product finally take off in

Clay's Bold Move: $1.5B Valuation & Employee Tender Offer Led by Sequoia

Before her nomination as Surgeon General by Donald Trump, **Dr. Casey Means** was deeply involved in the healthcare startup ecosystem. She cofounded **Levels**, a biowearables and health-tracking company, with **Sam Corcos**, a tech entrepreneur now pivotal in DOGE's efforts to dismantle the IRS. 

### The Rise of Levels
Launched in 2019, Levels initially focused on a **blood glucose tracker** linked to a **$400-per-month subscription app**. The startup quickly garnered attention and funding, including a **$12 million seed round** led by Andreesen-Horowitz's a16z. Marc Andreesen, a Trump advisor, praised Levels for its innovative approach to merging technology with health and fiscal solutions.

### A Partnership with Political Undertones
Means and Corcos's collaboration extends beyond Levels. They've co-hosted podcasts, shared authorship on the company blog, and frequently promote each other's work. Their partnership highlights the intersection of **health tech and political movements**, with Corcos now leading controversial projects at DOGE, including a **"mega API"** for taxpayer data.

### The Surgeon General Nomination
Means's nomination came as a surprise, replacing Dr. Janette Nesheiwat last minute. Her ties to the **MAHA movement** and association with figures like Robert F. Kennedy Jr. underscore the political dimensions of her appointment. Meanwhile, Corcos's role at DOGE raises questions about the **privacy and security** of consolidating taxpayer data.

This story sheds light on how **startup founders** can transition into significant political roles, blurring the lines between **technology, health, and governance**.

Casey Means is a MAHA celebrity; her cofounder is now in charge of dismantling the IRS.

From Biowearables to Surgeon General: The Unlikely Journey of a Startup Cofounder

In a significant move highlighting the role of artificial intelligence in enterprise infrastructure, **Elastic**, a leader in search and observability, has acquired **Keep**, an innovative Israeli startup. Keep specializes in an open-source AIOps platform designed to transform how tech teams handle alerts and incident responses.

### The Deal That Speaks Volumes
While the financial details remain undisclosed, the acquisition underscores the critical need for **efficient alert management** in cloud-native operations. Keep's solution aims to reduce the chaos of digital systems before they fail, marking a new frontier in operational technology.

### Keep's Journey: From Pivot to Breakthrough
Founded in 2023 by **Tal Borenstein, Shahar Glazner, and Matvey Kukuy**, Keep's story is one of resilience. Initially entering Y Combinator with a different vision, the team pivoted to develop a tool that simplifies alert management for engineers. Their prototype, shared on Hacker News, quickly gained traction, leading to a $2.5 million pre-Seed funding round.

### The Technology Behind Keep
Keep's platform **unifies alerts** from various monitoring systems, prioritizes them using AI, and reduces the cognitive load on engineers. Beyond this, it offers **anomaly detection, root cause analysis, and automated remediation workflows**, making it a comprehensive solution for modern tech teams.

### Elastic's Vision with Keep
Elastic plans to integrate Keep into its observability and security offerings, enhancing its capabilities with **AI-based incident management**. This synergy is expected to leverage Elasticsearch's strengths in handling massive volumes of machine data, providing users with a seamless AIOps experience.

### The Future for Keep's Team
The founders and their team will join Elastic's R&D center in Israel, continuing their mission under a new banner. This acquisition not only validates Keep's innovative approach but also sets the stage for further advancements in AI-driven operations management.

After a scrappy pivot and open-source breakthrough, Keep will bring alert intelligence and workflow automation to the Elastic stack.

Elastic's Strategic Acquisition: How Keep's AI is Revolutionizing Tech Alert Management

## **Valarian Steps Out of Stealth with $20M Funding**

Founded by **Palantir alumni**, **Valarian** has officially emerged from stealth mode, securing a **$20 million investment** to expand its **secure ACRA platform** into the **defense sector**. This move marks a significant step in addressing the growing need for **data management solutions** that cater to governments and large corporations.

### **The Founders' Vision**

**Josh McLaughlin** and **Max Buchan**, the cofounders of Valarian, bring their expertise from Palantir to tackle one of the most pressing issues today: **data control**. Their platform is designed to offer **unparalleled security and efficiency**, making it a game-changer for entities that handle sensitive information.

![Josh McLaughlin (left) and Max Buchan (right), cofounders of Valarian](https://i.insider.com/681ba916a466d2b74ab54e79?width=700)

### **Why This Matters**

In an era where **data breaches** are increasingly common, Valarian's solution promises to provide a **robust framework** for managing and protecting critical data. The **defense sector**, in particular, stands to benefit immensely from this technology, given the **high stakes** involved in its operations.

### **The Road Ahead**

With the fresh funding, Valarian is poised to **scale its operations** and **enhance its platform's capabilities**. The startup's focus on **innovation and security** positions it as a key player in the **data management space**.

Data management startup Valarian, founded by a Palantir alumni, raises $20 million to expand its secure ACRA platform into the defense sector.

Valarian: The Palantir Alumni's Secret Weapon for Data Control in Defense

## **Humanly's Remarkable Growth Amidst Hiring Slowdown**

![Humanly Team](https://cdn.geekwire.com/wp-content/uploads/2025/05/Human-Beans-630x357.jpg)
*Some of the team at Humanly, a Seattle startup founded in 2018. The company employs 36 people. (Humanly Photo)*

In a surprising twist, **Humanly**, a Seattle-based recruiting software startup, is experiencing its **best two quarters** since its inception in 2018, despite a general hiring slowdown. The company has seen a **3X year-over-year increase in annual revenue** and recently secured **$7 million in funding** to fuel its growth.

### **What Sets Humanly Apart?**
Humanly leverages **automation software** to streamline the recruiting process, offering services like candidate screening, interview scheduling, initial communication automation, and reference checks. Competing in a crowded market, Humanly stands out by focusing on both **companies and job seekers**.

### **Key Drivers of Growth**
- **Efficiency in Hiring**: With companies operating with smaller recruiting teams, tools like Humanly are in high demand to manage the hiring process efficiently.
- **Increased Applicant Volume**: As more candidates apply for fewer roles, Humanly helps companies **engage with applicants at scale**.
- **Improved Data Models**: The more candidates use Humanly’s platform, the better its algorithms become at matching job seekers with suitable roles.

### **Expanding Beyond Companies**
Following its acquisition of **Teamable** last year, Humanly has broadened its focus to include tools for job candidates, such as **mock interviews and career advice**. This shift addresses the growing issue of **candidate resentment**, aiming to improve the job-seeking experience.

### **Impressive Metrics and Future Plans**
Humanly screens **250,000 new candidates monthly** and serves large companies outside the tech industry that hire in high volumes. With **$24 million in total funding** to date, the startup is well-positioned for future growth.

![Prem Kumar](https://cdn.geekwire.com/wp-content/uploads/2023/05/20220512_GeekWire_Awards_765-630x420.jpg)
*Prem Kumar, co-founder and CEO of Humanly, accepts the award for UX Design of the Year at the 2022 GeekWire Awards. (GeekWire File Photo / Kevin Lisota)*

Humanly’s success is a testament to its innovative approach in a challenging market, proving that even in times of hiring slowdowns, **recruiting startups can thrive**.

Some of the team at Humanly, a Seattle startup founded in 2018. The company employs 36 people. (Humanly Photo) It may seem a bit counterintuitive that

Saudi Arabia's Sovereign Fund Fuels iMENA Holding's IPO Ambitions with $135 Million Investment

Summary:

Saudi Investment Powerhouse Backs Tech Startup

Comments

Subscribe our newsletter to receive our daily digested news

ListMyStartup.app

Other Latest News

Aurora's Co-Founder Exits Amidst Self-Driving Truck Launch: What's Next for the Startup?

Gen Z Social App Fizz Takes Legal Action Against Instacart and Partiful Over Trademark Dispute

Clay's Bold Move: $1.5B Valuation & Employee Tender Offer Led by Sequoia

From Biowearables to Surgeon General: The Unlikely Journey of a Startup Cofounder

Elastic's Strategic Acquisition: How Keep's AI is Revolutionizing Tech Alert Management

Valarian: The Palantir Alumni's Secret Weapon for Data Control in Defense

Humanly Defies Hiring Slowdown: How This Recruiting Startup is Scaling New Heights

Other Latest News

Aurora's Co-Founder Exits Amidst Self-Driving Truck Launch: What's Next for the Startup?

Gen Z Social App Fizz Takes Legal Action Against Instacart and Partiful Over Trademark Dispute

Clay's Bold Move: $1.5B Valuation & Employee Tender Offer Led by Sequoia

From Biowearables to Surgeon General: The Unlikely Journey of a Startup Cofounder

Elastic's Strategic Acquisition: How Keep's AI is Revolutionizing Tech Alert Management

Valarian: The Palantir Alumni's Secret Weapon for Data Control in Defense

Humanly Defies Hiring Slowdown: How This Recruiting Startup is Scaling New Heights