Moveworks, an AI support ticket resolution startup, raises $75M

Moveworks, a cloud-based AI platform that automates IT support resolution for employees, has raised $75M in a Series B. The round was led by Iconiq Capital, Kleiner Perkins, and Sapphire Ventures. It also saw participation from Lightspeed Venture Partners, Bain Capital Ventures and Comerica Bank, who are existing investors in the company.

“Moveworks is not just transforming IT operations, they are building a more modern and enlightened way to work. They’ve built a platform that simplifies and streamlines every interaction between employees and IT, enabling both to focus on what matters,” Aditya Agrawal, a partner at Iconiq said in a statement.

Norwest closes $2 billion fund, its biggest to date

Primarily backed by Wells Fargo, Norwest Venture Partners announced the closing of its 15th fund. The recently announced fund brings Norwest Venture Partners total capital under management to $9.5 billion. The firm’s last fund closed in 2018 with a value of $1.5 billion.

Norwest was an investor in Uber and Spotify along with Wyze, OpenDoor, and Knotel.

Investment bank Lazard has its eye on European startups

Lazard has announced its “Venture and Growth Banking” division that will serve the European startup market. The new division will focus mainly on Series B and Series C investments and will be led by ex-Numis employees, Garri Jones and Nick James.