Goodwater Capital

We’re excited to announce our investment in Humand. Nearly 80% of the global workforce, about 2.7 billion people, works without a desk. Yet workplace software has been built primarily for the 20% who sit behind one, vastly underserving industries like manufacturing, healthcare, construction, retail, and hospitality. Deskless workers lack access to corporate email, basic communication channels, HR systems, and training tools. Many rely on paper schedules and informal group chats just to stay informed. The result? Disconnection, high turnover, and lost productivity. Humand is building the AI-powered operating system for deskless workforces. A mobile-first platform that connects 100% of a company’s workers into a single, unified experience that increases productivity and builds community. Today, it serves 1.6M+ workers across 1,500+ organizations globally. We’re proud to co-lead Humand’s $66M Series A alongside KASZEK and to support Nico Benenzon, Geronimo Maspero, and team as they build the AI super app for the world’s deskless workforce.

🚀 We’re excited to announce our investment in Midi.   Women’s midlife healthcare is broken. Perimenopause and menopause symptoms are too often dismissed, misunderstood, or met with misinformation. Many providers still aren’t trained to recognize the full range of symptoms. In the U.S., six thousand women enter menopause each day, and too many are left without timely, specialized care or clear guidance. Starting with menopause care, Midi set out to change that. Midi is now building a healthcare platform for women at every stage of life. With a care model that makes specialized women’s health expertise accessible nationwide, and AI-enabled clinical decision-making, Midi delivers personalized, insurance-covered care in 50 states while lowering healthcare costs. Each week, 25,000+ patients turn to Midi for care, and its platform has proven to lower the total cost of care by as much as 13%.   Congrats to Joanna Strober, Sharon Meers, and the entire Midi Health team for building the world's leading women’s health platform and setting a new standard of care for women. We’re excited to lead the $100M Series D 💙

We’re excited to announce our investment in RedotPay, a fast-rising global fintech transforming how money moves through stablecoin-powered payments. With over 6 million users and payment volume nearly tripling YoY, RedotPay is disrupting traditional fintech with remarkable traction across major markets.    Congratulations to Michael Gao and the entire RedotPay team on this exciting milestone!  

📈 Growth is rebounding across consumer tech. Goodwater Sonar Q3 2025 data shows that consumer tech companies are ramping user growth after a few slow quarters, a core signal of product-market fit and demand. Not surprisingly, the sharpest acceleration is happening at the early stages. • Series A companies hit 73% median YoY MAU growth — more than double the 31% we saw last quarter. • Series B companies climbed to 53% YoY growth, up meaningfully since the start of the year. • Series C growth held steady at 24%, showing consistent performance in later-stage companies. Top-quartile performers pulled even further ahead in Q3 2025: • Series A: +177% vs. +73% median • Series B: +114% vs. +53% median • Series C: +90% vs. +24% median The fastest of the fast: Sonar also identifies the notable companies that sped ahead of the pack in Q3 2025. • The fastest-growing companies that raised a Series A, B, or C in Q3 2025, measured by the number of MAUs added in the year leading up to their funding round: CHAI: AI Platform, PlatinumRx, Portola, Stan, Higgsfield AI, Seekho, PixVerse, Kiwi, Whop, OrangeX, Nothing, Replit, Truemeds, Polymarket, Finture. • The fastest-growing private companies that haven’t yet had an exit as of Q3 2025: OpenAI, Kuku FM, Meesho, Canva, DramaBox, Brave, Zepto, Scribd, Inc., NetShort, Seekho, Perplexity, Crazy Maple Studio, Rapido, Discord, Linkme, GoodShort, Proton, PixVerse, Kutumb, Navi, Nova, Bluesky Social, Substack, Nothing. Explore Sonar → goodwatercap.com/sonar

After two years of slow recovery, consumer tech is finally showing early signs of resurgence. Today, we released Sonar: Q3 2025, our second deep dive into the state of consumer tech venture capital — and the data is moving in the right direction. Venture deal activity has stabilized, valuations are rising, and user growth is accelerating. Goodwater Sonar provides unique data on global and U.S. consumer-tech venture dynamics — from deal activity and valuations to MAU growth and fundraising cadence. We’re releasing this data quarterly to help founders answer the questions we hear every day: • What is going on in the consumer tech market? • What does best-in-class growth look like at my stage? • How are valuations trending? • How fast are the strongest companies growing users? Q3 2025 and historical data are easily viewed by series, comparing global and U.S. data, and by median versus P75. You can also explore the fastest-growing companies that raised in Q3 2025, as well as the fastest-growing venture-backable companies that haven’t yet had an exit. We’ve spent over a decade investing exclusively in the best consumer-tech startups around the world, and we’re excited to help founders understand what it takes to raise capital at each stage. Please feel free to conduct your own analysis using our data and let us know if you discover anything interesting that we may have missed! Explore Sonar → goodwatercap.com/sonar

Today is the day to try Read AI. With new Windows, macOS, and Android apps (joining web and iOS), the platform now captures every conversation wherever it happens and turns it into searchable, actionable context.   From day one, David, Elliott, and Robert had a clear mission: make every interaction better with AI. Congrats to the Read AI team for delivering on that vision at scale with today’s launch.

Toss FacePay is another example of how Seoul is a global hub for creative innovation. Just as KPop (just think #kpopdemonhunters) has transformed popular culture, Toss is transforming finance by removing friction from everyday payments. Per Chandra Maloo: No cards. No phones. Just a glance. #fintech #toss #innovation

“Sometimes the best strategy is to start serving customers before you’re ready.” - Stanley Tang, DoorDash Co-Founder. Before writing a line of code, the DoorDash team interviewed local merchants, threw up a two-hour HTML site with eight menus, took the first order, swiped a Square reader, and delivered it themselves. That’s customer-first learning. More hard-won lessons from our fireside chat with Stanley Tang here → https://lnkd.in/gNBN5GuM

No more "Sunday scaries" when you have Read AI's 'Monday Briefing' agent - a personalized summary of last week’s highlights and upcoming priorities, so you can start Monday focused and prepared. Congratulations to David Shim and the Read AI team on the launch of the new Agentic Workflow Suite of tools, which makes productivity more accessible for all! Read more here: https://lnkd.in/gBSJ3NKU

DoorDash’s race to greatness isn’t a finish line, it’s a mindset. We recently spoke to Stanley Tang, Co-Founder at DoorDash. He explained how they have achieved, and continue to pursue greatness: -Turn constraints into discipline, not crutches. -Obsess over customers. -Reinvent continuously with AI and new bets. Read the full blog + takeaways → https://lnkd.in/gNBN5GuM