We are excited to announce that Matchstick Ventures Fund IV has completed an Access investment in Credible, an AI-native context engine that enables people and AI systems to reliably understand and use enterprise data. The rapid adoption of large language models has made natural-language access to enterprise data possible, but it has also exposed a fundamental weakness: most organizations lack a shared, governed understanding of what their data actually means. Business definitions are scattered across dashboards, SQL queries, documentation, and institutional knowledge, leading to inconsistent metrics, unreliable AI outputs, and slow decision-making. As enterprises increasingly embed AI into products and internal workflows, the semantic layer is evolving from a business intelligence tool into foundational infrastructure for AI. 

‍

Credible is building the context layer that allows AI to reason with enterprise data accurately and consistently. Credible's platform transforms business meaning into reusable infrastructure by creating governed semantic models that can be consumed by analytics tools, APIs, applications, and AI agents alike. Rather than requiring every AI application or dashboard to independently interpret business logic, Credible centralizes metrics, relationships, and definitions into a shared context engine that delivers consistent answers across an organization. Built on the open-source Malloy ecosystem, the platform combines developer-friendly tooling with enterprise-grade governance and context-aware retrieval, allowing organizations to build trustworthy AI-powered products and analytics experiences. Early traction includes multiple design partners, production deployments with enterprise customers, and growing adoption within the Malloy open-source community.

‍

Credible is led by founder and CEO Kyle Nesbit, whose deep experience building modern business intelligence and semantic modeling systems uniquely positions the company to solve one of enterprise AI's most important infrastructure challenges. Kyle brings over a decade of very high level experience at Google and Gradient (one of Google’s former internal VC funds) to the company. Drawing on the technical lineage of Looker and Malloy, the team brings extensive expertise across data systems, AI, and developer tools, along with firsthand experience helping organizations operationalize data at scale. Their insight that enterprise AI failures are fundamentally problems of missing business context rather than inadequate models has shaped a differentiated vision for the future of enterprise data infrastructure. We're excited to support Credible as it builds the semantic foundation that will enable the next generation of trustworthy AI applications.

‍

Why we are excited about Credible: First and foremost the team building Credible is exceptional and has deep experience managing data at the highest levels internally at Google and through many open-source projects. These are founders at the top of their game, with the right amount of experience and connections that should give them a competitive edge. Second, we love the insight and market. We are believers that internal, and often private, data is critical for enterprises to get value from AI, and that there will be big companies built that help get that data into the right formats, standardized and then into AI models. This isn’t a novel insight but one where we think there will be multiple big winners and so we wanted exposure to the space, and we think we’ve found one of the best teams going after it. We ended up making an Access Check investment into the company because the round was significantly over subscribed and the valuation ended up higher than we were comfortable, but we still want to be involved in this company and watch how it plays out. It’s a very good one that is HQ’d right in downtown Boulder.

‍