My guess is that the VCs are betting on this being another Twilio, which did go public. And it seems like the founders are okay with hedging their bet by taking

My guess is that the VCs are betting on this being another Twilio, which did go public. And it seems like the founders are okay with hedging their bet by taking so much money so early. Perhaps a genuine (and still rare) example of 1999 style startup bubble investing.