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storyventures.vc

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Investments

22

Portfolio Exits

1

Funds

3

About Story Ventures

Story Ventures invests in early stage start-ups at the intersection of connectivity, technology, and data.

Story Ventures Headquarter Location

50 West 17th Street 2nd Floor

New York, New York, 10011,

United States

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Research containing Story Ventures

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CB Insights Intelligence Analysts have mentioned Story Ventures in 1 CB Insights research brief, most recently on Oct 2, 2019.

Latest Story Ventures News

Smile Identity Raises $7M in Series A Funding

Jul 10, 2021

Smile Identity , a Lagos, Nigeria-based company focused on ID verification and KYC compliance through Artificial Intelligence, raised $7M in Series A Funding. The round, which brought total funding to over $11M, was led by Costanoa Ventures with participation from CRE Venture Capital, Local Globe, Intercept Ventures, Future Africa Ventures, Khosla Impact ValueStream Ventures, Beta Ventures, 500 Startups and Story Ventures. In conjunction with this round, John Cowgill of Costanoa, will be joining Smile Identity’s board. The company plans to use the new funding to improve its services, expand across more markets, add support for more ID types and hire more engineers and support staff across Africa. Led by Mark Straub, CEO, Smile Identity provides Identity Verification, Digital KYC, User Onboarding, Document Verification, Liveness Checks, Face Verification, Anti-fraud, and Identity Data Deduplication tools. To standardize identity verification across the continent and provide a single solution for a new generation of African companies, Smile Identity works with local ID authorities and has built a platform that combines ID validation with proprietary face verification and liveness checks to support non-surveillance, consent-based access and financial inclusion. The company performs over 1 million identity checks every month across Africa and its software is used in banking, fintech, ride sharing, worker verification, public social welfare programs, and telecommunications. Customers include payments companies like Paystack, Paga and Chippercash; neo-banks like Kudabank and Umba; traditional banks like Stanbic IBTC; cryptocurrency exchanges like Binance, Luno, and Paxful; and supply-chain businesses like Twiga. With subsidiaries, branch offices and engineers in Nigeria, Kenya, South Africa, Ghana, Rwanda, Uganda and counting, Smile Identity’s team is made up of people from 12 countries, including 8 African nations. FinSMEs 09/07/2021

Story Ventures Investments

22 Investments

Story Ventures has made 22 investments. Their latest investment was in Aspireship as part of their Option/Warrant - II on October 10, 2021.

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Story Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/12/2021

Option/Warrant - II

Aspireship

$0.9M

No

1

7/8/2021

Series A

Smile Identity

$7M

Yes

5

5/7/2021

Seed VC - II

Inspiren

$1.6M

Yes

Third Prime Capital, and Undisclosed Investors

2

12/18/2020

Series A

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$99M

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10

12/11/2020

Option/Warrant

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$99M

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10

Date

10/12/2021

7/8/2021

5/7/2021

12/18/2020

12/11/2020

Round

Option/Warrant - II

Series A

Seed VC - II

Series A

Option/Warrant

Company

Aspireship

Smile Identity

Inspiren

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Amount

$0.9M

$7M

$1.6M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Third Prime Capital, and Undisclosed Investors

Sources

1

5

2

10

10

Story Ventures Portfolio Exits

1 Portfolio Exit

Story Ventures has 1 portfolio exit. Their latest portfolio exit was WaystoCap on August 25, 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

8/25/2021

Acquired

7

Date

8/25/2021

Exit

Acquired

Companies

Valuation

Acquirer

Sources

7

Story Ventures Fund History

3 Fund Histories

Story Ventures has 3 funds, including Story Ventures Pilot Vehicle IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/27/2019

Story Ventures Pilot Vehicle IV

$0.76M

1

Story Ventures II

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$99M

10

Story Ventures II-A

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$99M

10

Closing Date

6/27/2019

Fund

Story Ventures Pilot Vehicle IV

Story Ventures II

Story Ventures II-A

Fund Type

Subscribe to see more

Subscribe to see more

Status

Amount

$0.76M

$99M

$99M

Sources

1

10

10

Story Ventures Team

1 Team Member

Story Ventures has 1 team member, including current Managing Partner, Jacob Yormak.

Name

Work History

Title

Status

Jacob Yormak

Managing Partner

Current

Name

Jacob Yormak

Work History

Title

Managing Partner

Status

Current

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