Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
03.22.24
Pillsbury advised Menlo Ventures, a Bay Area-based venture capital firm that invests early stage across consumer, enterprise and healthcare technologies, in leading a $40 million Series B funding round for Unstructured, the leader in ingestion and preprocessing for large language models (LLMs).
Databricks Ventures, IBM Ventures, Sacramento Kings Chairman Vivek Ranadivé, Datastax CEO Chet Kapoor, Allison Pickens of the New Normal Fund, and NVentures—NVIDIA’s venture capital arm—also participated in the round. Existing investors included Madrona, Bain Capital Ventures (BCV) and Mango Capital.
Additionally, as part of the investment, Menlo Ventures partner Tim Tully joined Unstructured’s board of directors. According to a company press release, Unstructured will leverage the new capital to grow its team and accelerate its development of data preprocessing tooling for LLMs.
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The Pillsbury deal team was led by Pillsbury’s global Technology, Media & Telecom (TMT) industry leader and Corporate partner Justin Hovey and included special counsel Caitlin Stulberg and associate Olivia Fong.