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Investments

7

Portfolio Exits

2

About Mike Vernal

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Latest Mike Vernal News

Saturn Raises $44M in Funding

Aug 11, 2021

Saturn , a NYC-based community-centric social platform built around the calendar, raised more than $44m in funding. Backers included General Catalyst, Insight Partners, and Coatue, as well as Bezos Expeditions (the personal investment company of Jeff Bezos), Marc Benioff (CEO and founder of Salesforce), Dara Khosrowshahi (CEO of Uber), Dick Costolo and Adam Bain’s 01 Advisors (former CEO and COO of Twitter), Mike Vernal (Partner at Sequoia Capital), Robert Downey Jr., Inspired Capital, WndrCo, Elad Gil, Ashton Kutcher and Guy Oseary’s Sound Ventures, SV Angel, Jerry Murdock (co-founder of Insight Partners), Hadi Partovi, Neo (Ali Partovi’s Venture Fund), Dylan Field (CEO and co-founder of Figma), and TQ Ventures. The company will use the funding to grow its engineering and product teams, and to accelerate expansion. Founded in 2019 by Dylan Diamond and Max Baron, Saturn enables users to manage and share their schedule with friends. Layering messaging and other social features for groups, clubs, and teams, on top of a calendaring utility that people use multiple times a day, the app has seen growth in hundreds of U.S. high schools to date and is preparing to expand nationally this fall. Diamond was actively serving as Tesla’s youngest full-time employee while studying Computer Science and Management as a sophomore in the Jerome T. Fisher program for Management & Technology at the University of Pennsylvania. At Tesla, he was a software engineer on the company’s Supercharger Analytics team. Before Tesla, he built a best-selling paid education app that was at the top of Apple’s most downloaded list in the Apple AppStore for several years. Baron worked in marketing and strategy for companies including Beats by Dre and T-Mobile beginning in high school and was leading youth marketing for Havas full-time during his sophomore year at the Wharton School, studying Operations and Management. The pair left the University in 2019 to pursue Saturn on a full-time basis and were named to Forbes 30 Under 30 in 2020. FinSMEs 11/08/2021

Mike Vernal Investments

7 Investments

Mike Vernal has made 7 investments. Their latest investment was in Saturn as part of their Series A on August 8, 2021.

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Mike Vernal Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/10/2021

Series A

Saturn

$44M

Yes

5

6/11/2021

Seed VC

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$99M

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10

6/30/2020

Seed VC

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$99M

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10

5/25/2016

Series A

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$99M

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10

2/23/2016

Seed VC

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$99M

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10

Date

8/10/2021

6/11/2021

6/30/2020

5/25/2016

2/23/2016

Round

Series A

Seed VC

Seed VC

Series A

Seed VC

Company

Saturn

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Amount

$44M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

5

10

10

10

10

Mike Vernal Portfolio Exits

2 Portfolio Exits

Mike Vernal has 2 portfolio exits. Their latest portfolio exit was Specto on November 24, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/24/2021

Acquired

$99M

7

1/2/2018

Acquired

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$99M

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10

Date

11/24/2021

1/2/2018

Exit

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

7

10

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