How a CWRU computer science grad landed in venture capital
Ann Funai (CWR ’97) built a career at IBM and Under Armour by taking on work that excited her—even when it scared her
Ann Funai (CWR ’97) knows what it takes to launch a company and keep it running.
She has held leadership roles at IBM, Under Armour and several private-equity-backed firms. She is also a founding limited partner at Operator Collective—a business-to-business (B2B) venture capital firm that connects founders with experienced enterprise operators.
Funai earned her computer science degree from the Case Western Reserve University Case School of Engineering and played on the university’s women’s soccer team. She credits her time on the team with teaching her how much companies depend on people working together.
“Everything is a group project, everything is a team,” Funai said. “A startup might start up because of one person, but a company doesn’t run because of one person.”
Before attending CWRU, Funai spent a year at SUNY Binghamton, where she also played soccer. Born in Cleveland, Funai had always felt a strong connection to the city and ultimately found her way back home. While at Binghamton, she realized that the computer science students around her did not share the same passion for the field that she did.
“They all wanted to go to Wall Street—and that was not what I wanted to do with my degree,” Funai said. “That wasn't where my heart was. I was interested in different uses of the technology.”
That realization—combined with her desire to return to Cleveland—led Funai to transfer.
Joining the Spartans
Reaching out to the then-women’s soccer coach, Funai asked if there was a spot for her on the team; she went on to play three seasons for the Spartans.
“We would all lift each other up, and have fun, and there’s something about camaraderie, because when you go into the professional world, there’s no individual,” said Funai, who returned to campus earlier this semester for the CWRU Entrepreneurship Speaker Series, hosted by the university’s Veale Institute for Entrepreneurship.
She described how CWRU’s academic demands had made her question whether to stay in computer science. Taking classes outside the major gave her room to explore—and showed her she could handle uncertainty.
She ultimately earned her computer science degree, but was glad she had questioned the choice.
“I’m glad I had that, because it forced me to explore,” said Funai. “It forced me to ask myself the hard questions.”
From IBM to Under Armour—and back
Funai began her career as an IT specialist at IBM. She later became senior vice president and chief technology officer at PeopleAdmin, which develops human resources software for schools, universities and public-sector organizations.
At Under Armour, she served as senior vice president of engineering and helped spin off MyFitnessPal as an independent company during the pandemic. She then returned to IBM to oversee the implementation of SAP business software.
She took on opportunities that interested her, even when they scared her.
“I feel very lucky that I can say my career progressed in a way because I pursued things that got me excited to do the work,” Funai said.
Bringing business leaders into venture capital
At Operator Collective, Funai helps the startups the fund invests in draw on the experience of business leaders.
She was also drawn to the people involved, describing the group’s makeup as unusual in venture capital.
“We are between 85% and 90% female. We are 40% non-white,” Funai said. “That profile is very rare, if non-existent, in the venture capital world for a VC firm.”
She encourages students to explore their interests without feeling bound to a single career plan.
“It’s okay, instead of being like, ‘I must be this at all times’, to say, ‘Okay, I’m just gonna pull off the blinders, like, let’s see what happens for a semester,’” Funai said.
Ellie Palaian is a CWRU junior and an intern with the Veale Institute for Entrepreneurship.
