Thrive Holdings Makes a $100 Million Bet on AI for IT Help
It’s Thrive Holdings’ latest investment in bringing new tech to the services industry.
Thrive Holdings, an offshoot of Joshua Kushner’s venture firm Thrive Capital Management, is putting $100 million into a months-old company it helped create called Shield Technology Partners — providing an early glimpse into how the holding company is using its $1 billion war chest.
Formed last year, Thrive Holdings incubates, operates and invests in businesses that aim to bring artificial intelligence to service providers like accounting firms and other traditionally analog companies. Shield, launched last summer, acquires stakes in small and medium-sized IT businesses, and then applies artificial intelligence internally to make the core operations — such as resolving IT support tickets — more efficient.