XLIO Ventures closes $53m funding facility
XLIO Ventures, with offices in London, Seattle, New York, Tel Aviv, and Sao Paulo announced the closing of $53 million funding facility to back an expanding roster of the Made-to-Order Startups it creates for its enterprise technology customers.
The $53 million funding facility includes a mix of institutional capital and family offices that make targeted investments in high growth financial ventures with innovative models. XLIO's unique mix of experienced leadership and portfolio value attracted this round of additional capital from existing investors.
Ron Kornfeld, CEO, XLIO: "Since our founding in December of 2019, we've gotten an excellent response from the market to our unique concept. This capital will allow us to expand the number of companies we build and customers we delight."
XLIO's model is to collaborate with its enterprise customers to specify their goals, then create a startup from the ground up: team, technology and IP to their exact specifications and timeline. XLIO takes on the risk and cost, and the buyer acquires 100% of the assets and team on attainment of the specification at a pre-agreed price.
The firm's leadership hails from Amazon, SwiftKey, and a number of successful startups. They bring expertise in a wide range of technology areas including AI/ML, RPA, edge/IoT, Virtual/Augmented Reality, and cyber security. XLIO uses this insight and a global network to rapidly assemble world class teams to meet the needs of its growing business.