UpWest News
16 articles
growth-positive
"The ingenuity and persistence of Israeli entrepreneurs are reasons to remain optimistic and bullish" | CTech
Shuly Galili, Co-Founding Partner at UpWest, discusses the importance of maintaining open communication with founders and investors amid political instability and economic challenges. Despite the difficulties, she remains optimistic about the Israeli tech sector and the potential for new opportunities in 2024. UpWest, which has total assets of $100m, made several investments in 2023 and plans to continue this trend in 2024. Galili also highlights the rise of Generative AI and its potential to transform various sectors. She emphasizes the need for Israeli tech companies to maintain a healthy relationship with international investors and founders.
InvestmentManagement Changes
growth-positive
UpWest raises $70 million for Fund IV, investing in Israeli founders looking to tackle US market
UpWest, a venture firm specializing in funding and supporting Israeli founders entering the U.S. market, has closed a $70 million fund. The firm has had success with its portfolio, including investments in startups like SentinelOne and Honeybook. UpWest can now lead pre-seed and seed rounds and has opened an office in Tel Aviv to align with its portfolio companies. The firm sees opportunities in areas such as cybersecurity, AI, cloud infrastructure, DevOps, and fintech. With 10 years of experience in the seed stage, UpWest aims to continue being active in the market.
InvestmentExpand
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"I get great joy from working with various domains and various founders, and being there for them."
Gil Ben-Artzy, founding partner of UpWest, discusses the companys mission to make a difference with each founder and company they invest in. UpWest provides the first check for Israeli startups looking to break into the US market and offers support in various areas such as finding employees, investors, and customers. Ben-Artzy highlights the growth and success of the Israeli ecosystem over the past nine years, emphasizing the importance of choosing the right investors for early-stage companies. He also mentions the challenges and opportunities in the post-COVID world and expresses joy in working with founders. The article provides insights into UpWests approach and commitment to supporting entrepreneurs throughout their journey.
InvestmentCustomers
growth-positive
The HoneyBook Story: Innovating and investing in less obvious markets
HoneyBook, an Israeli startup that develops business management software for small businesses, freelancers, and the self-employed, has announced a large round of financing that values the company at over $1B. The company was founded in 2013 and has since been focusing on less obvious markets. UpWest, the companys first and only pre-seed investor, has continued to support HoneyBook and other companies that are pursuing less-than-obvious market opportunities. The article also discusses the importance of the fit between the team and market opportunity, the need for a unique secret sauce, and the importance of putting the team in a position to succeed.
Investment
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Our Investment Team Is 50% Female: Why Wouldn't It Be?
The article discusses the importance of female inclusion and gender diversity in the venture capital ecosystem. It highlights how UpWest, a company founded in 2012, has always prioritized gender diversity, with 50% of its investment team being female from day one. The article emphasizes that diversity of thought is crucial in making well-informed investment decisions and providing support to portfolio startups. It also mentions the benefits of having diversity among a startups board and advisors. The author acknowledges the team at UpWest, including the founders and other team members, for their commitment to diversity. Overall, the article has a growth-positive impact on UpWest, showcasing their inclusive approach to investing.
PartnersCustomers
growth-positive
The Pandemic Is Accelerating Israeli Innovation in These Four Domains - Here's Why
The article discusses four domains - cybersecurity, digital health, cloud adoption, and future of work - where Israeli founders are leading the way and driving growth in the wake of COVID-19. It highlights specific Israeli companies in each domain that have achieved significant market traction and are addressing the challenges and opportunities brought about by the pandemic. The article emphasizes the expertise and innovation of Israeli entrepreneurs in these sectors, as well as their ability to work remotely and build successful cloud technologies. Overall, the impact of the article on UpWest is growth-positive, as it showcases the potential for growth and success in the domains where the company invests.
CustomersPartnersInvestmentAcquisition
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Startup Journey Through a Pandemic: Marathon not a Sprint
The article discusses the impact of remote work on the long-term location decisions of early stage startups. It questions the role of Silicon Valley as a hotbed for startups due to the increasing distribution of work and the departure of talent from the Bay Area. However, the author argues that physical proximity to customers will remain important for startups, especially in terms of business, sales, and marketing. The article highlights the reputation and concentration of capital in Silicon Valley, as well as the deep networks and customer opportunities it offers. It concludes that while remote work may be necessary in the short term, being close to customers and markets should still be a key consideration for startups.
CustomersPartners
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Now Is Not the Time for Seed Stage Startups to Play Defense
The article discusses the impact of the COVID-19 pandemic on seed and pre-seed stage startups, emphasizing the importance of engaging with customers and the broader market. It highlights the challenges faced by founders in raising capital and breaking into the US market. The article suggests that founders need to be intentional about building their companies and demonstrating market traction. It emphasizes the importance of networking, building an advisory board, and connecting with industry experts and leaders. The article also emphasizes the value of current customers and the need to maintain relationships and understand their needs. It suggests that startups should not be afraid to hire talent that will help them build visibility and relevancy. Overall, the article encourages startups to be active and visible in the market despite the challenges posed by the pandemic.
CustomersInvestmentExpand
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Introducing: UpWest's Virtual Startup Series
UpWest is partnering with Google for Startups to host virtual sessions for tech founders to navigate the rapidly shifting market conditions caused by COVID-19. The sessions cover topics such as tech leadership during uncertainty, the go-to-market shift for B2B enterprise tech, post-COVID opportunities, fundraising in recession years, and objectives for startups in 2020 and beyond. The sessions feature industry experts and venture capitalists who provide insights and strategies for founders. The article encourages interested individuals to sign up for the sessions.
PartnersInvestment
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CTalk: In Israel, Seed Investments Are Getting Bigger, Says Venture Capitalist
Lia Cromwell, Principal at UpWest Ventures, spoke about trends in early-stage investments in Israel at the OurCrowd Summit. UpWest Ventures was founded in 2012 and has a portfolio that includes cybersecurity startup SentinelOne Inc., autonomous drone maker Airobotics Ltd., and business management software developer HoneyBook Inc.
Investment
growth-positive
The Next UpWest Chapter
UpWest, an investment platform for Israeli entrepreneurs, has announced a shift from the accelerator model to an individualized investment approach for pre-seed and seed stage companies. The company will no longer open fixed cohorts throughout the year, but will invest in startups year-round. This change was driven by founders who wanted UpWest to continue engaging with them in the long term. UpWest remains focused on Israeli founders who are committed to spending meaningful time in the US, ultimately establishing their operational HQ in the States.
InvestmentExpand
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Seed Series: UpWest Founding Partner Shuly Galili
The article features an interview with Shuly Galili, co-founder of UpWest, a venture capital firm based in Silicon Valley that invests in pre-seed stage Israeli companies. UpWest aims to support Israeli founders by providing them with funding and assistance in validating their technology and scaling their business in the US market. The firm typically invests between $250-400k at the pre-seed stage and seeks around 8% equity. UpWest works with angel investors and partners with firms such as Amplify, Redpoint, and Lightspeed. The company is sector-agnostic but focuses on technical founders and enterprise B2B. They source 90% of their investments in Israel and 10% in the US. The article also mentions two portfolio companies of UpWest, Stampli and CyCognito, and their respective industries and target customers.
InvestmentPartners
Neutral
Why your startup may not be as great as everyone says
The article is an opinion piece by Gil Ben-Artzy, a founding partner at UpWest Labs, discussing the importance of meaningful market validation for startups. He warns against the dangers of fake validation, such as soliciting the wrong type of customers, relying on feedback from corporate innovation labs, and being swayed by positive feedback from peers or investment from VCs. He emphasizes that real validation comes from getting tangible feedback from potential customers in the target market.
Customers
growth-positive
Why Israeli startups tackle 'unsexy' industries with AI
The article discusses the impact of AI on old-school industries with physical, heavy equipment, particularly in Israel. It highlights the advantages of Israel in building deep technology and its expertise in hardware. Many startups in Israel are using AI to solve problems in industries like mining and energy. The article mentions companies like Airobotics and Percepto that provide AI solutions for industrial facilities to streamline processes and reduce waste. It also mentions the investment of Intel in Israel and the acquisition of Mobileye. The author emphasizes the importance of integrating AI with legacy systems in traditional industries and the role of Israeli technologists in solving these challenges.
InvestmentPartners
growth-positive
UpWest Labs just raised $18 million to bring Israeli founders to the US
UpWest Labs, a micro venture firm, aims to bring Israeli founders to the U.S. and provide them with resources to start their companies. The founders believe that startups can miss out on opportunities if they are not exposed to U.S. customers and investors early on. UpWest Labs has recently closed on $18 million in capital commitments from a syndicate that includes institutional funds, family offices, corporations, and tech executives in the U.S. and Israel. The firm targets at least eight percent ownership in the startups it backs and works closely with them for several years, helping them land customers through their established connections.
CustomersInvestment
growth-positive
UpWest Labs Nurtures Promising Israeli Startups In Silicon Valley
UpWest Labs, a startup accelerator founded in 2012, has graduated its 8th class of startups. The program brings promising Israeli entrepreneurs to the U.S. for four months to meet customers, partners, and investors. The graduating class consists of 7 companies, with a focus on enterprise products. UpWest Labs has graduated 39 startups to-date, with 70% receiving seed funding, primarily from Silicon Valley investors. The graduates have received over $50M in funding. UpWest Labs provides support and resources to the startups, including housing, visas, and introductions to the right people. The program aims to reduce friction and give startups a boost in their early stages. The success of the program is attributed to its small class sizes and the mentorship provided by previous graduates.
Customers
