Index Ventures

"Markets that were overlooked or underinvested previously are now even more compelling" – Georgia Stevenson, Index Ventures 🎙️ Georgia Stevenson joined etn.'s Ronan Chambers and Luke Knight to discuss how Inherent is emerging from stealth in a $50 million seed round.  🔬🚀 Inherent believes science is on the cusp of a second revolution. The team of DeepMind and Microsoft alum is using their rare mix of technical depth and multidisciplinary flair to rewrite the playbook for AI-native science.  ▶️ 🎧 Tune in to hear Georgia on why Inherent stood out thanks to its belief that machines capable of open-ended exploration can catalyze a wave of new inventions. Available on YouTube and Spotify.  👇Link in comments.

Ross McNairn was clear from day one that he wanted to build a product that empowers lawyers, turning in-house legal teams from the people who slow the business down into the ones who help it move faster. Since we first partnered with Wordsmith AI two years ago, it’s been a joy watching Ross, Volodymyr, Robbie and the team make that vision a reality. Today, Wordsmith is trusted by 500+ in-house teams who use it to organize, route, and complete legal work across the business, reducing their reliance on outside counsel. We’re thrilled to support Wordsmith again as they announce their $70M Series B geared at growing the team, expanding further into the US, and meeting the rising demand from corporate legal departments.

70% of Americans live with a nutrition-related chronic disease. Nourish is the AI-native metabolic health clinic built to change that — connecting patients with dietitians, labs, and personalized care that actually works. 🌿

The scientific method has been an extraordinary engine of human progress. It’s also stayed more or less the same for the past 400 years. Inherent, a London-based AI lab that emerges from stealth today, believes science is on the cusp of a second revolution. Index is thrilled to be co-leading their $50 million seed round as they set about writing the playbook for AI-native science – helping humans and AIs to collaborate creatively, play to our respective strengths, and unleash a wave of new inventions in the process. Inherent’s founding team of four bring a rare mix of technical depth and multidisciplinary flair, coming out of DeepMind, Microsoft, the US White House and, in one case, a parallel career as a professional choral conductor. Much as a conductor channels the voices of a choir, they see science in future as involving a sort of attuned orchestration, nudging human and non-human collaborators towards an emergent coherence. We’re proud to be partnering with Tantum Collins, Edward Hughes, Louis Kirsch, and Kaloyan Aleksiev as they set about designing the future of discovery. https://lnkd.in/gJhEkt4W

We’re tripling down on our investment in Fonoa with participation in its $110M Series C, as the company sets a path to becoming a category leader in global tax management. We backed Fonoa from Series A because we believed in the company’s vision to enable companies to be borderless from day one - and we're thrilled to continue supporting the team in its latest chapter. By building the first digital tax solution with global coverage, Fonoa is enabling a growing customer base to operate globally: ➡️ The biggest companies in the world, including Canva, Uber, Netflix, Nebius and Booking.com, use the platform.  ➡️ More than a billion transactions are now processed annually for millions of sellers.  ➡️ Tax determination is supported across 190+ jurisdictions, with tax IDs validated in 100+ countries. Along with the Series C, Fonoa has also announced it has acquired PwC’s tax platform to close a long-standing gap in indirect tax technology and further its global footprint. A big congratulations to Davor and the whole team at Fonoa!

After years of misdiagnoses and unnecessary surgeries, Nick Reber started Garner Health with a simple belief: healthcare should make it easier to find the doctors delivering the best outcomes. Garner’s platform analyzes billions of healthcare claims to identify those providers – then aligns incentives around them. When employees choose a Garner-recommended doctor, their out-of-pocket costs are covered. Nearly 800 employers now use Garner, seeing an average 12% reduction in annual healthcare spend. The most important decision in healthcare is which doctor you see. But for most Americans, that choice is still made with almost no real information. Garner is building the missing demand layer in healthcare – one that finally makes quality visible and rewarded. We're thrilled to lead Garner’s $100M Series E as they rewire the way Americans find, choose, and pay for care. Congrats to Nick and the entire team!

Next month marks 10 years of ClickHouse as an open source project and we are thrilled to welcome our community at our annual user conference today in San Francisco. To everyone who contributed code, filed an issue, or ran ClickHouse in production from the beginning: thank you. Today, we’re proud to share that ClickHouse has over 4,000 customers, $250M in ARR, and is trusted by teams like Anthropic, OpenAI, Cursor, Lovable, Vercel and many more building the future of AI. In this post, I cover the milestone, what we’re shipping, and what comes next: https://lnkd.in/gra_Pjzu

The bottleneck to AI in investment management was never the models. It was everything underneath them. Dylan Parker, Dean Hathout, and Ammer S. saw that early — and built Moment to solve it: a unified operating layer with the data infrastructure, real-time execution, and compliance controls that AI agents actually require. Eighteen months ago, Moment worked with firms managing $300 billion. Today, that number is $10 trillion. We led their Series B. We're leading their $78 million Series C, alongside Andreessen Horowitz, Avra, and other existing investors. Edward Jones, Hightower, LPL Financial, and the world's largest wealth managers aren't just piloting AI anymore — they're restructuring around it. Moment is the infrastructure they're restructuring around. Proud to back a team that had the thesis right from the beginning. Congrats to the whole Moment team!