Inside Phia's $8 Million Dollar Seed Round

Phoebe Gates and Sophia Kianni met as roommates at Stanford. Now, they’re the cofounders of Phia, an AI-powered shopping agent that just raised an $8 million dollar seed round led by Kleiner Perkins and has participation from household names like Hailey Bieber, Kris Jenner, and Sheryl Sandberg. For this episode of Term Sheet, Allie spoke with Phoebe, Sophia, and Annie Case, a partner at Kleiner Perkins, about what’s wrong with online shopping today, how to build a consumer company, why there aren’t more women building companies, and what AI tools can bring to the digital shopping experience.