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SNAK Venture Partners raises $50M fund to back vertical marketplaces

SNAK Venture Partners announced Wednesday the close of its oversubscribed $50 million debut fund, anchored by the investment firm Pritzker Group (founded by Illinois governor JB Pritzker and his brother, Tony).

SNAK founders Sonia Nagar and Adam Koopersmith worked at the firm and helped lead investments in companies like the auto marketplace Backlot Cars and TicketsNow (exited to Ticketmaster). The duo decided to break out on their own and, earlier this year, launched their firm to back digital marketplaces. 

“It felt like the timing was right and there was support within the firm to go do this,” Nagar said. 

The vision is that there is still so much to digitize, like in supply chain and construction, and this is the moment to strike because even holdout industries are more comfortable adopting new technology as fintech architecture advances. 

“If you look at the biggest venture wins over the last decade,” she said, pointing to the likes of Uber, Instacart, and Airbnb, “those are five of the top 10 outcomes in venture.” As in those companies that raised billions from investors, went on to IPO, and returned millions to them.

“Most of those wins were in consumer, which tends to be faster-moving than large enterprises,” Nagar continued. “We think there’s a ton of white space to double down and focus on B2B marketplaces.” Looking specifically for the categories that haven’t yet digitized. 

The firm has already invested in six companies, including Big Rentals and Repackify, focused on equipment rental and packaging logistics, respectively. Nagar said the firm hopes to overall write seed checks into at least 20 companies, at $1 million to $2 million a pop. She said they hope to deploy the entire fund within the next 3 to 4 years. 

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Though many new funds are struggling to raise capital (and capital remains concentrated at the top), Nagar said she and Koopersmith were able to lean on their backgrounds when wooing LPs. 

Nagar previously helped launch Amazon apparel back in 2009, and was head of mobile at RetailMeNot. Koopersmith, meanwhile, spent 20 years at Pritzker Group and serves on the board of various marketplace companies. At the same time, Nagar said that without Pritzker’s support, it would have been quite hard to raise this fund, especially in last year’s environment.

Other LPs in their fund include the State of Illinois Growth and Innovation Fund and executives from other marketplace companies, like Favor Delivery and RetailMeNot. 

Nagar said the firm is also location-agnostic, recognizing that the still-hidden marketplaces may not be found only in Silicon Valley and New York City. “We’re finding these overlooked founders in places where maybe other funds aren’t looking,” she said. 

SNAK is itself based in Chicago, which she said some LPs have questioned. “People perceive that as a disadvantage; we view it as an advantage,” she continued. “We can get to everybody very fast.” 

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Doss raises $55M for AI inventory management that plugs into ERP

Enterprise resource planning (ERP) systems are often described as a company’s “central brain” because the software connects different departments — including finance, HR, and inventory — into a single database where everyone shares the same information.

In recent years, a new crop of AI-powered ERP startups, such as Rillet and Campfire, has emerged hoping to replace legacy offerings like NetSuite. These companies claim that traditional ERPs are clunky, expensive, and time-consuming to implement.

However, according to Doss co-founder and CEO Wiley Jones, many new AI ERPs lack robust inventory management, the process of ensuring that the data on physical goods remains synced with the accounting ledger.

Doss claims to solve this by providing an AI-native inventory management layer that integrates with existing accounting systems, whether traditional ERPs or ones built by AI-based startups.

On Tuesday, Doss announced that it raised a $55 million Series B co-led by Madrona and Premji Invest, with participation from Intuit Ventures. Other new and existing inventors in the round include Theory Ventures, General Catalyst, Contrary Capital, and Greyhound Capital.

Doss, founded in 2022, originally focused on a core accounting product similar to those offered by AI-native startups like Rillet and Campfire. But last year, the startup decided instead of competing with these companies, “we would rather partner with them, and play a different game,” Jones told TechCrunch.

Jones explained that AI-native ERP companies manage accounts receivable, accounts payable, and other finance functions, but most don’t offer procurement and inventory management that integrates with accounting workflows.

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“We’re building a lot of the traceability for the supply chain, but through the lens of plugging into a finance and accounting partner,” Jones said.

The company’s main partners include Rillet and Campfire. Many clients also use Doss in conjuction with Intuit’s QuickBooks.

“The reason that they work with us is that [physical goods management] is not something that they’re likely going to build as a core competency without putting in a lot of energy and effort,” Jones said.

Doss’ core customer base consists of mid-market consumer brands, typically generating between $20 million and $250 million in top-line revenue. One such customer is Verve Coffee Roasters, a high-end specialty coffee brand.

The startup sees itself as competing with traditional ERPs. But these players are not sitting ideal in the age of AI, either. NetSuite, for instance, has recently introduced its updated AI ERP. It also competes with other agentic procurement startups such as Didero.

While Jones admits that selling two ERP systems, one for accounting and another for inventory management like Doss, “is a hard sell,” he says that legacy ERPs are so hard to implement that many customers are choosing to have two newer, AI-powered systems.

“I think it’s going to be a very intense fight inside of mid-market that ultimately will be determined by whoever rebuilds their architecture to be most legible and usable for agents,” Jones said.

Editor’s Note: The story corrected the list of Doss’ partners.

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Crunchyroll confirms data breach after hacker claims unauthorized access

Anime streaming service Crunchyroll has confirmed a data breach involving customer service ticket information following an incident with a third-party vendor, after a hacker claimed to have accessed user data and internal systems.

The streaming site, which Sony acquired from AT&T in 2020 for $1.18 billion, operates as a joint venture between U.S.-based Sony Pictures Entertainment and Japan-based Aniplex. Crunchyroll has more than 2,000 titles in over 12 languages and serves 15 million subscribers worldwide, per its website.

Reports of a threat actor claiming access to Crunchyroll user data surfaced online this week, with a hacker alleging that they obtained data about millions of users.

Crunchyroll said it is investigating the claims.

“Our investigation is ongoing, and we continue to work with leading cybersecurity experts,” the company said in a statement to TechCrunch, adding that it has not identified evidence of ongoing unauthorized access.

Separately, materials shared with TechCrunch by a cybersecurity-focused account, International Cyber Digest, indicate the attacker may have gained access to Crunchyroll’s Zendesk support system. Screenshots we have seen appear to show the company’s internal Slack messages and stolen support data, apparently stolen by hacking an employee at Telus Digital, an outsourcing giant that handles customer support for Crunchyroll. The hacker allegedly stole customer support ticket data until early 2025, at which point their access was revoked.

The cybersecurity account said the hack was separate from a recent breach affecting Telus Digital, which the company confirmed last week.

Crunchyroll did not respond to a follow-up question about whether the third-party vendor relates to its support partner, Telus Digital.

Telus Digital did not respond to requests for comments.

The hacker told BleepingComputer they had downloaded about eight million support ticket records from Crunchyroll’s systems, including roughly 6.8 million unique email addresses, though the claims have not been independently verified. The hacker also told the publication they gained access on March 12 after compromising an Okta single sign-on account belonging to a Crunchyroll support agent.

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BKR Capital raises $14.5M (so far) to invest in Black founders

Canada’s BKR Capital announced Monday that its Fund II has closed CA$20 million (around $14.5 million), bringing it closer to its CA$50 million target.

This fund is looking to back “high-growth technology companies led by founders from the Black community, building solutions for the future of work, living, and global connectivity,” managing partner Lise Birikundavyi told TechCrunch. The firm is mainly looking at Canada but is open to backing select companies globally. The average check size will be between $250,000 and $1.5 million, she said.

Birikundavyi said that almost 70% of the Black population in Canada is first- or second-generation immigrants, “resulting in founders who build globally from day one, unlocking early access to international markets and creating a structural advantage in scaling.”

Though many U.S. firms have shied away from openly advertising a mission that could be perceived as diversity, equity, and inclusion (DEI), Birikundavyi said her Toronto-based fund doesn’t share those exact fears. What’s happening in Canada is less of a DEI rollback and more of a reframing, she said, where investors are “prioritizing discussion on performance,” even though “the underlying opportunity remains unchanged.”

She added, “Expanding access to overlooked founders continues to surface high-quality deals, making this less about DEI and more about arbitrage investing.” She believes investors in Canada still see “inclusive investment” as good for the ecosystem and full of potentially lucrative business opportunities.

The firm’s thesis is rooted in the belief that “overlooked markets and diverse lived experiences can unlock outsized venture opportunities,” Birikundavyi said. The firm launched in 2021 and raised $22 million for its Fund I (which Birikundavyi said is performing better than at least 75% of the other funds launched around the same time). She said BKR Capital hopes to make its final close for Fund II in December and invest in 25 companies.

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