Cake

Deal Snapshot

Company: Cake Technologies, Inc.

Sector / Category: Consumer mobile web browser / swipe-based search and browsing experience

Headquarters: Provo, Utah, USA

Founded: 2016

Investor: Frazier VC

Investment Vehicle: Fund III

Deal Type: Primary + Secondary

Company Overview

Cake Browser was a swipe-based mobile browser designed to streamline discovery by letting users swipe through results as preloaded web pages instead of tapping through a traditional list of links. It aimed to improve mobile search and browsing across common “verticals” like web, images, video, news, and shopping.

Public Funding / Capital Events

Jan 30, 2018 — $5M pre-Series A / seed-stage funding announced led by Peak Ventures with participation from Pelion Venture Partners and Kickstart Seed Fund. Discontinued: November 2022.

Investment Summary

Frazier VC began investing in Cake in December 2017, participating in the company’s Seed round as a primary investment. Fund III later purchased secondary shares in June 2021, providing additional exposure through a secondary transaction after the company had established its consumer mobile browsing product in market.

Why We Invested

We invest in products with clear differentiation and the potential to scale through repeatable consumer adoption. Cake took a novel approach to mobile browsing with a swipe-first interface designed to reduce friction in discovery and make search results more immediately usable. We also look for teams pursuing large, competitive categories with a distinct product thesis and the ability to execute quickly against incumbents.

Other Investors

Peak Ventures

Pelion Venture Partners

Kickstart Seed Fund