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Companies

Find the operating companies, understand what they own, and see how their strategies differ.

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Operating holding companies

CompanyWhat it doesVerticalsRoleResearch as of
CrescendoCustomer-experience company that combined an AI platform with the acquired BPO PartnerHero, reports more than $100m ARR, and partners with Alorica for distribution. Part of General Catalyst's Creation portfolio.customer experienceHolding company or platform
EudiaLegal-services platform (Cicero Technologies, trading as Eudia) backed by General Catalyst's Creation strategy. It acquired Johnson Hana and Out-House, operates an Arizona ABS law firm, and sells 'Enterprise Brain' AI to corporate legal teams.legalHolding company or platform
Ithaca HoldingsIthaca Holdings is a technology holding company founded by Ravi Gupta and John Hegeman to renew established businesses using frontier technology and operating expertise. Its announced Bumble take-private provides an initial case study in applying this approach to consumer internet.consumer internet, softwareHolding company or platform
Long LakeOwnership-led services company that has acquired dozens of community-management and residential-services businesses, runs its Nexus platform across them, and agreed to acquire Amex GBT for about $6.3bn.property management, multi sectorHolding company or platform
Sequence HoldingsNew York holding company that 'refounds' scaled services businesses with its Atlas platform and embedded engineers; agreed a $7.7bn enterprise-value deal for The Baldwin Group and reports early results at BankSouth.multi sector, financial services, insuranceHolding company or platform
Thrive HoldingsPermanent holding company launched by Thrive Capital in April 2025 that builds sector platforms (Current in accounting, Shield in IT services) and counts OpenAI as an equity partner.multi sector, accounting, it servicesHolding company or platform
Titan MSPGeneral Catalyst-backed acquirer of managed IT service providers, founded 2024 in New York. Announced $74m of funding and the acquisition of RFA; reports ticket-level automation results.it servicesHolding company or platform
AccrualAccounting-technology software vendor pursuing product M&A; General Catalyst led its first two rounds through Creation.accountingHolding company or platformNot stated
AIVCAIVC combines embedded AI transformation, infrastructure development, company building and ownership. Its public thesis is to invest after demonstrating an operating advantage, rather than treating AI implementation as a standalone software sale.cross sectorHolding company or platform
Beacon SoftwareAI-native software holding company that acquires niche software businesses. Raised a $250m Series B co-led by General Catalyst; WSJ material reports a later $225m Series C.softwareHolding company or platformNot stated
BHubBHub is a Brazilian accounting and financial-outsourcing business that acquires accounting firms and deploys proprietary AI within their workflows. It uses acquired customer relationships to distribute technology as part of the accounting service.accountingHolding company or platform
BuenaBuena acquires German property-management businesses and integrates them with its own software and AI workflows. The model combines local service relationships with centralized technology and integration support.property managementHolding company or platform
CirceusCirceus acquires mission-critical B2B software and supports its businesses through shared AI and operating infrastructure. Its stated model pairs long-term ownership with decentralized product and customer leadership.softwareHolding company or platform
CurrentThrive Holdings' accounting and advisory services platform, formerly Crete Professionals Alliance, which rebranded as Current.accountingHolding company or platformNot stated
DwellyProperty-management company named by General Catalyst as a Creation portfolio example.property managementHolding company or platformNot stated
FuraFura acquires US freight brokerages and migrates them onto a shared technology platform. Its acquisition proposition combines customer relationships and operator expertise with automation in quoting, carrier sales and shipment visibility.logisticsHolding company or platform
ModusModus invests in accounting-firm interests and develops AI workflows for audit and assurance delivery. It combines technology, professional expertise and an alternative practice structure rather than operating the parent itself as a licensed CPA firm.accountingHolding company or platform
Multiplier HoldingsProfessional-services acquirer that announced a $35m Series B from The General Partnership, Ribbit and Lightspeed.professional services, accountingHolding company or platformNot stated
OberonOberon combines an AI-focused acquisition vehicle, Oberon Holdings, with an external transformation business, Oberon Studios. It describes buying mid-market operating companies and applying reusable engineering tools both to owned businesses and to third-party clients.cross sectorHolding company or platform
PerceptaTransformation platform launched by General Catalyst and described as fully owned at launch.multi sectorHolding company or platformNot stated
Shield Technology PartnersThrive Holdings' IT-services platform, launched with more than $100m from Thrive and ZBS Partners.it servicesHolding company or platformNot stated
Zero RFIZero RFI combines construction advisory and owner-representation businesses with AI-enabled project intelligence. It acquires complementary capabilities to improve coordination and decision-making across the building lifecycle.construction servicesHolding company or platform
American Growth InsuranceInsurance-agency acquirer backed by Rockbridge and Atomic that announced nearly $70m of committed equity and its first closed acquisition.insuranceHolding company or platformNot stated
Arcos LabsLegal platform candidate associated with 8VC in imported search leads.legalHolding company or platformNot stated
CabanaServices acquirer in pool services. Listed as a candidate in the imported roll-up directory; not yet independently researched by this project.home servicesHolding company or platformNot stated
CapitalPadAcquisition-capital platform candidate.multi sectorHolding company or platformNot stated
Commons ClinicClinical platform in healthcare. Listed as a candidate in the imported roll-up directory; not yet independently researched by this project.healthcareHolding company or platformNot stated
CRIServices platform in accounting. Listed as a candidate in the imported roll-up directory; not yet independently researched by this project.accountingHolding company or platformNot stated
EagleServices acquirer in engineering. Listed as a candidate in the imported roll-up directory; not yet independently researched by this project.multi sectorHolding company or platformNot stated
Enduring VenturesPermanent holding company candidate from the imported directory.multi sectorHolding company or platformNot stated
Infinity ConstellationAI company-builder candidate named in the imported directory alongside Beacon as an 'AI-native holdco'.multi sectorHolding company or platformNot stated
Integral (German accounting)German SME-accounting roll-up identified by General Catalyst; distinct from the unrelated privacy company of the same name.accountingHolding company or platformNot stated
Kodiak HoldingsAcquisition-capital platform candidate.multi sectorHolding company or platformNot stated
Mainshares / American OperatorAcquisition-capital platform candidate connecting operators with small-business deals.multi sectorHolding company or platformNot stated
MetropolisTechnology enabled operator in parking. Listed as a candidate in the imported roll-up directory; not yet independently researched by this project.multi sectorHolding company or platformNot stated
PipeDreamsServices acquirer in home services. Listed as a candidate in the imported roll-up directory; not yet independently researched by this project.home servicesHolding company or platformNot stated
R1Services operator in healthcare revenue cycle. Listed as a candidate in the imported roll-up directory; not yet independently researched by this project.healthcareHolding company or platformNot stated
RocketableSoftware-acquirer candidate from the imported directory.softwareHolding company or platformNot stated
Roofer.comServices acquirer in roofing. Listed as a candidate in the imported roll-up directory; not yet independently researched by this project.home servicesHolding company or platformNot stated
Savvy WealthAdvisor platform in wealth management. Listed as a candidate in the imported roll-up directory; not yet independently researched by this project.wealth managementHolding company or platformNot stated
TeamsharesEmployee-ownership succession platform for small businesses; tracked as an adjacent model.multi sectorHolding company or platformNot stated

Investors and company builders

Shown separately because sponsor capital does not measure the scale of the operating companies it backs.

CompanyWhat it doesVerticalsRoleResearch as of
General CatalystVenture firm whose Creation strategy incubates and funds AI-led services roll-ups and transformation companies. Its essays and portfolio announcements define much of the category's vocabulary.multi sectorInvestor or company builder
SaxeCapSaxeCap combines AI transformation services, proprietary products and investment activity.UnknownInvestor or company builder
TenetTenet invests at inception in AI roll-ups and AI-native services, with a stated focus on flexible capital structures.UnknownInvestor or company builder
8VCVenture firm led by Joe Lonsdale; seed co-lead of Sequence and author of essays on integrated AI service businesses.multi sectorInvestor or company builderNot stated
AtomicVenture studio; backer of American Growth Insurance.multi sectorInvestor or company builderNot stated
Bessemer Venture PartnersVenture firm named as a backer in the imported directory.multi sectorInvestor or company builderNot stated
DFO ManagementDell Family Office; named as a new partner of Sequence.multi sectorInvestor or company builderNot stated
Khosla VenturesVenture firm named as a backer in the imported directory.multi sectorInvestor or company builderNot stated
Lightspeed Venture PartnersVenture firm; a named investor in Multiplier's Series B.multi sectorInvestor or company builderNot stated
Ribbit CapitalFintech venture firm; named investor in Multiplier's Series B.financial servicesInvestor or company builderNot stated
Rockbridge Growth EquityGrowth-equity firm; backer of American Growth Insurance.multi sectorInvestor or company builderNot stated
Slow VenturesVenture firm; partner Yoni Rechtman's commentary on product-first growth buyouts appears in the archive.multi sectorInvestor or company builderNot stated
The General PartnershipVenture firm; named investor in Multiplier's Series B.multi sectorInvestor or company builderNot stated
Thrive CapitalVenture firm that launched and funds Thrive Holdings.multi sectorInvestor or company builderNot stated
ZBS PartnersInvestor alongside Thrive in Shield Technology Partners.multi sectorInvestor or company builderNot stated
Extended directory: acquired businesses, vendors, and comparators (33)
CompanyWhat it doesVerticalsRoleResearch as of
ChannelholicOrganization. Working classification from the research database; see the evidence section for what has been reviewed.UnknownUnclassifiedNot stated
BankSouthGeorgia bank in which Sequence made a minority investment; the source of Sequence's reported loan-origination results.financial servicesAcquired or operating businessNot stated
NetAscendant SolutionsIT-services firm operating within Shield Technology Partners; used in the research as a September operating case.it servicesAcquired or operating businessNot stated
Richard Fleischman & AssociatesManaged IT services provider acquired by Titan MSP in 2025; reports serving 700+ financial firms and launched a client-facing Managed AI offering.it servicesAcquired or operating businessNot stated
The Baldwin GroupInsurance brokerage that agreed to be acquired by Sequence for $7.7bn enterprise value; closing expected Q1 2027.insuranceAcquired or operating businessNot stated
PuzzleAccounting software identified as an acquisition target in the research.accountingAcquired or operating businessNot stated
RRBBAccounting firm operating within Thrive Holdings' Current platform.accountingAcquired or operating businessNot stated
StoredTechManaged service provider whose president is listed among Titan MSP's operating partners.it servicesAcquired or operating businessNot stated
ArtiumArtium builds enterprise AI agents and improves software delivery practices; it now operates as Artium by AlixPartners.UnknownAdjacent software vendor
Brain Co.Brain Co. builds model-neutral AI platforms and operational systems for complex, regulated institutions.UnknownAdjacent software vendor
Caritas Venture Co.Caritas provides AI consulting and implementation with outcome-based engagement pricing.UnknownAdjacent software vendor
CiridaeCiridae builds custom AI operating systems for construction, field-service and distribution businesses, pairing software with embedded deployment teams.UnknownAdjacent software vendor
CodosCodos supplies AI diagnostics, enterprise knowledge infrastructure and engineering services for workflow automation.UnknownAdjacent software vendor
Distyl AIDistyl AI combines enterprise AI products with forward-deployed engineers and researchers to redesign operational workflows.UnknownAdjacent software vendor
HeadstartHeadstart develops custom enterprise AI systems and uses AI-assisted engineering to accelerate delivery.UnknownAdjacent software vendor
MeliorMelior Technology provides custom generative-AI workflows, consulting and an ongoing AI Task Force service.UnknownAdjacent software vendor
Ode with AnthropicOde is a standalone enterprise AI services company formed through Anthropic, Blackstone, Hellman & Friedman and other investors.UnknownAdjacent software vendor
TenexTenex supplies AI transformation and engineering services for enterprise customers.UnknownAdjacent software vendor
The OpenAI Deployment CompanyThe OpenAI Deployment Company embeds engineers with customers to build and deploy enterprise AI systems.UnknownAdjacent software vendor
WonderfulWonderful combines an enterprise AI operating platform with local deployment teams and implementation support.UnknownAdjacent software vendor
AccordanceTax and audit software vendor candidate.accountingAdjacent software vendorNot stated
AmpersandAmpersand's current website identifies it as an applied human–computer interaction lab and names Ampersand Labs, Inc.UnknownAdjacent software vendor
AvocaHome-services AI vendor candidate.home servicesAdjacent software vendorNot stated
EllisPrivate-credit software vendor candidate.financial servicesAdjacent software vendorNot stated
HiOctaveCustomer-experience software and services vendor candidate.customer experienceAdjacent software vendorNot stated
LedgerUpBilling software vendor candidate.financial servicesAdjacent software vendorNot stated
NeticHome-services AI vendor candidate.home servicesAdjacent software vendorNot stated
OpenAIAI laboratory that became an equity partner of Thrive Holdings and a partner to Eudia; appears here as a technology partner, not an acquirer.softwareAdjacent software vendorNot stated
ProbookHome-services AI vendor candidate.home servicesAdjacent software vendorNot stated
Accel ClubE-commerce aggregator used as a cautionary comparator.softwareComparatorNot stated
Bending SpoonsDigital-product acquirer used as a comparator for the software-holdco model.softwareComparatorNot stated
Constellation SoftwareListed serial acquirer of vertical software; the classic comparator for software holding companies.softwareComparatorNot stated
TinySerial acquirer of internet businesses used as a comparator.softwareComparatorNot stated