About This Fund
Granola Index Ventures is a dedicated investment vehicle established by Index Ventures to lead the $125 million Series C funding round in Granola, a London-based AI meeting intelligence company. Announced in March 2026, the round valued Granola at $1.5 billion, marking the company's ascent to unicorn status less than three years after its founding. This investment vehicle reflects Index Ventures' conviction in the long-term potential of AI-native productivity tools that enhance rather than replace human participation in professional meetings, a thesis articulated by Index partner Georgia Stevenson as an investment in "what makes us human."
Granola, the portfolio company underlying this vehicle, has built an AI-powered meeting assistant with a distinctive technical architecture: the application sits locally on the user's computer and captures audio from meetings without requiring a visible recording bot in the call. The technology generates structured notes, highlights, action items, and meeting intelligence that allow professionals to participate fully in conversations rather than dividing attention between discussion and documentation. Granola co-founder Chris Pedregal and co-founder Sam Stephenson launched the company in March 2023, and by early 2026 the user base was growing at over 10% weekly — a rate reflecting strong product-market fit in the enterprise AI productivity market.
Index Ventures partner Danny Rimer led the Series C and joined Granola's board as an observer. The round was accompanied by continued participation from existing investors Lightspeed Venture Partners, Spark Capital, and NFDG — the venture firm of Nat Friedman and Daniel Gross, which had led Granola's $43 million Series B in May 2025. Index Ventures manages over $4 billion across its growth and early-stage fund families, with a portfolio spanning companies such as Figma, Robinhood, Wise, Adyen, and Dropbox. The firm has offices in San Francisco and London, with a longstanding focus on transformative technology companies across the United States and Europe.