Essence VC, a Seattle-based pre-seed venture capital firm, raised $27M for its third fund.

 

Essence VC, a Seattle-based pre-seed venture capital firm, raised $27M for its third fund.  The firm plans to invest in artificial intelligence, data infrastructure, and software development tools. The fund has already invested in marketing content generator Jasper AI, computer vision company Groundlight, and serverless data analytics platform MotherDuck. Essence VC is managed by Timothy Chen, who co-founded the machine learning technical infrastructure company Hyperpilot, which was sold to Cloudera in 2018. The firm leads rounds between $250,000 and $700,000, and is geography-agnostic.