Participated · Series B · Feb 2024

Synadia is the creator and maintainer of NATS.io, an open-source cloud- and edge-native messaging system for data streaming. The platform is designed to help developers and enterprises accelerate delivery of edge applications in a secure, cloud-agnostic way. Its customer base spans startups to Global 500 companies across finance, retail, automotive, industrial manufacturing, and newer startups in fintech, AI, green energy, and gaming. Founded in 2017 by CEO Derek Collison and based in San Mateo, California, Synadia has positioned NATS.io as a global messaging backbone. The company raised $25M in a Series B that brought total funding to $51M and intends to use the proceeds to further grow NATS.io and extend digital services to the edge. Institutional support and board involvement are increasing as Synadia scales its product and market strategy. Synadia is the company behind the production‑proven open source NATS.io project and maintains and leads its development as a CNCF project. The company offers NGS, a secure and globally available communications platform built on NATS.io, and provides commercial support, consulting, NRE, and training. Its cloud‑native messaging technology is available to run on all major cloud provider platforms and is aimed at enabling a new class of edge applications. Synadia promotes an Adaptive Edge Architecture designed to improve security, latency, and ease‑of‑use across cloud, on‑premises, web, mobile, and IoT environments. Accenture’s strategic investment is intended to help Synadia further capitalize on its position as a leader in adaptive edge architectures and modern distributed systems. The article discloses no financial terms or operating metrics for the company.

Participated · Series C · Feb 2024

ZEDEDA provides edge management and orchestration software (including the open-source EVE-OS architecture) that reduces the cost of managing distributed edge infrastructure while increasing visibility, security and control. The company delivers an integrated technology stack intended to simplify security and remote management of edge workloads and claims tens of thousands of nodes under management. ZEDEDA is expanding its global footprint with a newly opened Middle East headquarters in Abu Dhabi to house sales, engineering and customer support teams. It announced new regional cloud support to help customers meet data residency requirements while leveraging cloud-native technologies and AI capabilities. ZEDEDA plans to recruit local talent and develop partnerships with Middle East solution providers to strengthen its ecosystem. The company reports teams in the United States, Germany and India and positions the Abu Dhabi hub as a fourth strategic operations center. ZEDEDA offers edge management and orchestration software that reduces the cost of managing distributed edge infrastructure while increasing visibility, security and control. Its platform delivers instant time to value and supports modern AI-based applications with offerings such as ZEDEDA Edge Application Services and ZEDEDA Edge Kubernetes Service. The company reports tens of thousands of nodes under management and said nodes under management grew more than 300% year-over-year. Annual recurring revenue grew more than 250% year-over-year, and ZEDEDA counts 12 Global and Fortune 500 customers, including an automaker standardizing ZEDEDA across 70,000 dealerships, manufacturing facilities and service centers in 153 countries. ZEDEDA plans to use the new funding to expand sales and marketing, accelerate research and development, and continue hiring for sales and engineering roles globally. The company has teams in the United States, Germany and India and has achieved ISO/IEC 27001:2022 certification. ZEDEDA offers an edge management and orchestration platform that enables deployment and connection of cloud-native workloads—such as AI and computer vision—across distributed industrial environments. Its solution integrates with Emerson’s DeltaV automation system to extend DeltaV to the distributed edge and bridge IT and OT. The company is deployed within Fortune 500 firms across manufacturing, automotive, energy, and retail. ZEDEDA has quadrupled its nodes under management since 2021, signalling rapid operational growth. It recently closed a $26 million Series B financing. The firm positions its platform to modernize existing operations by delivering software-defined automation and extending cloud capabilities to the edge. The expanded relationship with Emerson includes both commercial integration and a strategic investment from Emerson Ventures. Zededa offers a software-as-a-service edge orchestration and virtualization stack that manages edge devices, guides deployments, and runs apps on bare-metal hardware or in virtual machines. Its product builds on the Linux Foundation’s EVE-OS and is vendor-agnostic, supporting devices from OEMs like SuperMicro. Use cases include monitoring sensors and security cameras, updating software in cell towers, and industrial deployments across IT infrastructure, industrial automation and oil & gas. The company reports its edge devices under management grew 4x in the past year while revenue grew 7x. Zededa has roughly a 100-person team across the U.S., Germany and India and plans to expand R&D, sales and marketing within the year. Future product focus includes improving ease of use and security, broadening integrations and enabling legacy-application updates and simplified AI/ML solutions. ZEDEDA provides a cloud-native, vendor-agnostic orchestration platform that enables enterprises, OEMs and system integrators to deploy and manage any application on any hardware at the distributed edge. Its as-a-service solution offers visibility, control and security for on‑premises, near‑premises and field edge deployments and supports any cloud or on‑premises system. The company plans to use new capital to scale operations and accelerate R&D, sales and marketing. ZEDEDA announced a highly oversubscribed $12.5M expansion to its Series A and has $28.5M in total funding to date. It expects to more than triple the number of customer edge nodes under management by mid‑2021. ZEDEDA is headquartered in San Jose, CA, with offices in Bangalore and Pune, India.

Participated · Series A · Jul 2023

Pano AI develops and deploys a full-stack platform for early wildfire detection that combines a network of ultra-high-definition, 360-degree cameras with proprietary AI models and human analysts at the Pano Intelligence Center. Cameras capture panoramic images every minute, AI flags smoke or fire indicators, analysts verify events, and verified alerts with precise GPS coordinates are sent to first responders via SMS or email. The platform integrates satellite imagery, weather data, and third-party GIS sources and uses patented triangulation to improve incident location accuracy while reducing false positives and detection latency. Pano operates as a managed service and covers nearly 30 million acres across the U.S., Canada, and Australia, serving over 250 first responder agencies and 15 major utilities including Arizona Public Service, Portland General Electric, and Xcel Energy. Founded in 2020 and based in San Francisco, the company has a 110-person team across North America and Australia. Its contracted revenue now exceeds $100 million, and the company plans to scale deployments, expand sensor inputs, and deepen AI and partner integrations. Pano AI offers an integrated active wildfire detection solution that combines mountaintop cameras, satellite feeds, artificial intelligence, 5G connectivity, and cloud software to detect and pinpoint new ignitions and alert fire professionals within minutes. The system provides fire agencies with real-time actionable intelligence and situational awareness to coordinate rapid response before fires escalate. The company says its technology helps first responders arrive faster and more safely with the right equipment and information. Pano AI plans to use the new funding to continue advancing its AI-based detection capabilities, hire talent, and expand into additional high fire-risk areas across North America and Australia. Financially, Pano raised $17M in this growth round, bringing total funding to $45M. It is active in six U.S. states (California, Colorado, Oregon, Washington, Idaho, Montana) and two Australian states (New South Wales, Queensland) and serves customers including PacifiCorp, Xcel Energy, Portland General Electric and multiple fire districts and agencies. Pano AI sells a fully managed system that pairs specialized camera hardware with AI models and cloud-based software to provide active wildfire detection and up-to-the-minute situational awareness to fire agencies and land managers. The service is used by utility companies, governments, fire authorities, forestry companies and private landowners, and is currently deployed across five U.S. states (California, Colorado, Oregon, Idaho and Montana) and two Australian states (New South Wales and Queensland). The company says it is monitoring 4.5 million acres and recorded over 1,000 detections this year. Pano positions its product as a tool to help first responders arrive faster and with better information to stop ignitions before they grow. Leadership frames the technology as part of climate-change adaptation, and the company plans to accelerate the geographical breadth of its AI solution to safeguard more communities. Operational progress to date has come within two years of founding, according to the company.

Participated · Seed · Mar 2023

AccuKnox offers a Zero Trust Cloud Native Application Protection Platform (CNAPP) built on its KubeArmor CNCF open-source project. The integrated platform combines CSPM/KSPM and CWPP and provides static and run-time security, automated vulnerability prioritization, and in-line run-time mitigation. It supports public clouds (AWS, Azure, GCP, Oracle), private clouds (OpenShift, VMware), Kubernetes, virtual machines and bare metal, and is delivered in a shift-left DevSecOps model. AccuKnox developed its core technology in partnership with SRI International and said its technology is anchored on patented inventions in container security, network security, anomaly detection, and data provenance. KubeArmor has more than 400,000 downloads and is growing at 50% quarter-over-quarter. The company’s roadmap includes ServiceMesh, Edge/IoT and 5G workload support, and it is using funding to expand go-to-market and R&D efforts. AccuKnox is available in general release. AccuKnox builds a Zero Trust run-time Kubernetes security platform that leverages an identity-driven approach and the team’s open-source project KubeArmor. Its technology is anchored on patented innovations in container security, unsupervised learning and data provenance developed at Stanford Research Institute. The company leverages foundational open-source platforms such as eBPF, SPIFFE, OPA and Kyverno to deliver security enforcement using Linux Security Module (LSM) technologies. AccuKnox provides a comprehensive security, compliance and governance platform for public and private clouds. The company closed a $4.6M seed financing to expand the engineering team and to prepare to deliver on open source and commercial offerings before the end of this year. AccuKnox is based in Menlo Park, CA and was founded by Asif Ali, Nat Natraj, Rahul Jadhav and Phil Porras.

Participated · Series B · Jan 2023

Memfault builds cloud-based software and SDKs that let IoT and embedded-device manufacturers upload performance data and error reports for storage, analysis and troubleshooting via a web interface. The company was founded in 2018 by former Pebble engineers and claims “hundreds” of customers, including Bose, Logitech, Lyft and Traeger. Memfault offers Android and Linux SDKs and maintains partnerships with semiconductor vendors such as Infineon, Nordic Semiconductors and NXP. It competes with cloud offerings from AWS, Microsoft and Google as well as startups like Balena and Zededa and security-focused firms such as Sternum and Armis. Memfault plans to use new funding to expand platform software support, add out-of-the-box integrations and roughly double headcount from 38 to about 80 by year-end. The company says it has maintained high gross margins and a low burn multiple but declined to disclose revenue. Memfault is also exploring early-stage work to incorporate AI for sharper anomaly detection and error classification. Memfault provides a cloud-based firmware observability platform and an SDK that can be deployed on any connected device to capture data and send it to the cloud for analysis. Its backend identifies, classifies, and deduplicates error reports so engineers know which issues are most prevalent and where they occur without end-user action. The platform enables teams to deploy OTA firmware updates, automatically capture and remotely debug issues, and continuously monitor device fleets at scale. The company plans to scale its engineering team and invest across product development and marketing with the new funding. Memfault will soon release a self-service version to streamline integration for developers. Operating details such as revenue or user counts were not disclosed in the article. Memfault builds a cloud-based monitoring solution that helps hardware teams catch, triage, and fix bugs in the field before end users encounter them. Its SDK connects to low-level diagnostics features in connected devices and streams telemetry back to Memfault's cloud for analysis. The backend identifies, classifies, and deduplicates error reports so engineers can pinpoint prevalent issues without recalling devices. Teams can use the platform to roll out firmware updates and receive early alerts about issues before they impact an entire fleet. Early customers include hardware companies Logitech and Proxy. In November 2019 the company raised $2.5M in seed funding to support its product development and growth. The company is led by CEO François Baldassari and is based in San Francisco, California.