CB Insights vs Nasdaq

venture's $200b quarter

CB Insights has published its latest newsletter on venture funding, covering a $200 billion quarter.

State of Venture Q2’26

Funding tops $200B for the second consecutive quarter. Deal count hits a decade low. Mega-rounds take 81% of all capital. SpaceX goes public at a record valuation. Every data point comes from the CB Insights proprietary database, updated in real time.

Lean Startup Lessons for Generative AI

The article argues that most enterprise generative AI failures are process failures, not model failures, and that Eric Ries’s Lean Startup principles remain the right remedy. Citing a 2025 MIT NANDA study that found roughly 95% of enterprise generative AI pilots delivered no measurable impact, the author recommends returning to first principles: observe real work (genchi genbutsu), run very small, fast experiments (build-measure-learn / design sprints), prefer narrow scope or vendor partnerships over large internal bets, enforce pre-release guardrails and human review, and stop treating documentation as an end in itself. The piece frames generative AI as a tool that dramatically lowers experiment cost and cadence — making iterative learning more achievable — and urges teams to measure outcomes (activation, retention, hours saved, revenue) rather than outputs or demos.

• A 2025 study from MIT’s NANDA initiative found roughly 95% of enterprise generative AI pilots delivered no measurable impact.
• Eric Ries published The Lean Startup in 2011, introducing the build-measure-learn loop that the article advocates applying to AI programs.
• The Google Ventures 'Sprint' method outlines a five-day design sprint to test a realistic prototype with users before long builds.

Nasdaq invests $100M in Kraken parent, targeting tokenized stocks by 2027

Nasdaq's venture capital arm has invested $100 million in Payward, the parent company of crypto exchange Kraken, to advance the development and launch of tokenized equities. The partnership aims to launch Nasdaq Equity Tokens (NETs) in the second quarter of 2027, with Nasdaq providing market surveillance technology across Payward's trading venues. The investment values Payward at $21 billion. This move reflects a broader trend on Wall Street toward tokenized securities, though debates persist about the nature of tokenized assets and shareholder rights, as highlighted by a recent dispute between Robinhood and AMC.

• Nasdaq's venture arm invested $100 million in Kraken parent Payward.
• Partnership aims to launch tokenized equities (Nasdaq Equity Tokens) in Q2 2027.
• Payward valuation set at $21 billion following the investment.

Nasdaq's Athen Bozoglu: Community as Competitive Advantage

Athen Bozoglu, Nasdaq's head of product marketing and a juror on The Drum Awards Festival Go To Market jury, argues that community will be a key competitive advantage for marketers as AI makes many tools and outputs more similar. He recommends companies invest in customer communities (advisory boards, peer networks, practitioner forums, member programs, events) and convert existing customer intelligence—sales recordings, product feedback, support interactions—into actionable insights. Bozoglu stresses combining AI with deep, proprietary customer understanding, aligning product/commercial/sales/marketing teams, and balancing brand building with short-term commercial programs. He highlights curiosity, cross-functional leadership and prioritization as critical for future marketing success.

• Athen Bozoglu is Nasdaq's head of product marketing.
• Bozoglu serves as a juror on the Go To Market jury for The Drum Awards Festival.
• He recommends investing in community (customer advisory boards, peer networks, practitioner forums, member programs, industry events) as a hard-to-replicate competitive advantage.

Creatio Quarterly Bookings Reach 255% of Prior Year

Creatio reported exceptional first-quarter FY27 results, delivering bookings at 255% of the prior year as enterprise adoption of AI accelerates. The AI-native CRM and workflow vendor says it supports thousands of organizations in more than 100 countries and has doubled its count of $1M+ ARR enterprise customers over the past year. Named customers include Nasdaq, MetLife, Colgate Palmolive, AMD and Howdens. Creatio credits growth to surging enterprise adoption of agentic AI, enterprises replacing legacy CRM stacks, and its Unlimited commercial offering. The company also announced a broad “10x” release featuring innovations such as an Enhanced AI Studio and AI Twin, and plans to expand its AI strategy, engineering, and go-to-market investments. Katherine Kostereva is quoted as CEO of Creatio.

• Creatio delivered bookings at 255% of the prior year’s level in the first quarter of FY27.
• Creatio serves thousands of organizations across more than 100 countries.
• The number of Creatio customers with $1M+ ARR doubled over the past year.