Blackbird writes down Culture Amp, Safety Culture as Airwallex, Eucalyptus shine
At a closed door briefing for its own investors, the nation's largest VC has provided a glimpse into the performance of the country's top startups.
The country's largest venture capital firm Blackbird Ventures has marked down the value of its holdings in employee analytics platform Culture Amp by 23.5%, but said it expects Airwallex to double its revenue to USD2 billion ($3.1 billion) within the year if its current trajectory persists.
Those were two of the biggest takeaways from Blackbird's annual investor day, beyond the headline announcement that it believes Canva is ready to IPO next year, according to multiple sources present who shared details with Capital Brief on the condition of anonymity.
Blackbird’s investor day has become the clearest window into the state of the country’s startup ecosystem, and this year’s update suggests an industry regaining its momentum, anchored by two breakout giants and a surprising breadth of steady performers across every fund.
Yet while design software giant Canva and fintech Airwallex continue to provide huge momentum for the fund manager, other big names in HR tech have hit air pockets.
