Participated · Series E · Jun 2019

Alkami Technology provides a cloud-based digital banking platform for banks and credit unions in the U.S., enabling clients to grow, adapt and build digital communities. Led by CEO Mike Hansen, Alkami serves over 160 financial institutions and represents nearly 10 million consumers and businesses. The company reported adoption of nearly 10 million digital users under contract in September and crossed over $130 million of Annual Recurring Revenue under contract after adding its 165th client. Alkami’s platform is used to deliver digital banking services and support client growth and engagement. The company held an initial closing of a major funding round to support continued expansion and product deployment. Alkami Technology provides a cloud-based digital banking platform for banks and credit unions across the United States. The platform enables financial institutions to deliver personalized digital banking features for consumers and businesses and to build an engaged digital community. Alkami is led by CEO Mike Hansen and is used by more than 130 financial institutions. The company plans to use newly raised funds to expand operations and broaden its business reach. Since inception, Alkami has raised over $225m in capital, including the Series E round. The business focuses on supporting a digital-first banking experience for its customers. Alkami Technology is a Plano, Texas-based provider of a unified, multi-tenant cloud-based digital banking platform for banks and credit unions. The platform includes retail and business banking, mobile banking, bill pay, personal finance management, person-to-person payments, marketing, and is delivered with an SDK and API set. Alkami-enabled institutions can build their own apps and product extensions and integrate new features across all lines of business. Led by CEO Mike Hansen, the company serves more than 4.5 million digital banking users across its U.S. client base. Alkami intends to use the strategic investment to fund the next stage of innovation, growth, and expansion. The company is backed by investors including S3 Ventures and Argonaut Private Equity.

Participated · Series D · Jan 2018

Alkami builds white-label, mobile-first digital banking software used by banks and credit unions. The company operates a SaaS model, charging clients based on the number of users per month. Alkami reports 4.5 million end users on its platform, and those users have generated revenue that supported the recent fundraise. Founded in 2009 and based in Plano, Texas, Alkami was started by Stephen Bohanon during the financial crisis. The company says it will use new funding to invest in innovation and expand sales. Leadership additions include a General Atlantic vice president joining the board and former MasterCard CEO Gene Lockhart also being added to the board.

Led · Equity · Mar 2016

Pivot3 builds storage-centric hyper-converged infrastructure (HCI) solutions and predictable flash storage. Its core products combine HCI with patented Quality of Service and virtualization management to prioritize workloads and ensure fault tolerance. Pivot3 emphasizes scale-out performance, reduced complexity and lower total cost of ownership versus traditional HCI. The company reports more than 2,000 customers deploying over 16,000 hyper-converged infrastructures globally across industries including video surveillance, healthcare, government, transportation, entertainment, education, gaming and retail. In February 2016 Pivot3 acquired NexGen Storage and plans to integrate NexGen’s PCIe flash arrays, QoS and dynamic provisioning while extending its patented scalar erasure coding to those solutions. Pivot3 will use new funding to accelerate product development, expand its HCI and flash storage offerings, and advance its go-to-market plan. Pivot3 is a pioneer in hyper-converged infrastructure, delivering software-defined HCI appliances since its first fully hyper-converged appliance in 2008. The company’s technology is based on patented Scalar Erasure Coding and Global Hyper-Convergence to deliver high storage efficiency and fault tolerance. Pivot3 serves more than 1,600 customers with over 13,000 deployed HCI appliances across video surveillance, VDI, disaster recovery and security-focused markets. The company plans to accelerate growth by extending leadership in dense VDI blade appliances, expanding backup and disaster-recovery offerings, and increasing market share for 24x7x365 video surveillance solutions. Pivot3 is investing in transforming security operations centers with virtualization and its Virtual Security Server, and in enabling advanced analytics on massive unstructured video datasets. The company will use new financing to invest in sales and marketing, recruit global talent, and expand its channel partner strategy. Pivot3 provides purpose-built, hyper-converged infrastructure appliances serving video surveillance, VDI and data center customers. Its vSTAC suite recently received a comprehensive update with the release of vSTAC OS 6.5. The company serves public sector, healthcare, transportation, gaming, education and retail verticals and reports over 1,000 customers globally. Founded in 2003 and led by CEO Ron Nash, Pivot3 is based in Austin, Texas. The company intends to use the funds from the recent round for additional product development and operations growth. Pivot3 also added Mike Dansby as vice president and chief financial officer. Pivot3 develops purpose-built virtualized storage and converged compute appliances (vSTAC) targeting video surveillance and virtual desktop infrastructures. The company sells appliances that run on Dell enterprise hardware and emphasizes simplicity, scalability and cost savings. Pivot3 has over 600 customers across public sector, transportation, gaming, education, healthcare and retail verticals. The firm reported a record second quarter, including a $2.7M surveillance storage deal in Central America, and quarter‑on‑quarter doubling of growth in the virtual desktop market. Pivot3 recently launched Professional Services and notes growing services revenues. The company aims to use new funding to support growth and pursue sustained profitability in 2014. Pivot3 develops RAID-based storage hardware appliances that provide integrated server virtualization for enterprise data, with a strong focus on storing video surveillance data. The company reports more than 140 customers, including the Port of Seattle, the Mall of America, and the City of Trenton. Pivot3 is entering a commercial partnership with Samsung Techwin to help store video surveillance data for that affiliate. The new funding will be used to expand product development, sales, and marketing efforts. Pivot3 has raised nearly $100 million in total funding to date. The company targets large-scale video surveillance storage deployments with its appliance-based approach.

Participated · Series D · Aug 2015

Siklu develops millimeter-wave (mmWave) wireless solutions used for video surveillance, Wi‑Fi backhaul and access to residential multi-dwelling units (MDU). The company also supplies connectivity for business customers and its products already cover thousands of fiber extensions for 3G/LTE telecommunications networks. Siklu is led by Co-Founder, Chairman and President Izik Kirshenbaum. The company is based in Fair Lawn, New Jersey and Petach Tikva, Israel. It intends to use recent financing to accelerate growth and improve its market position. The product focus and deployed base position Siklu to expand further in backhaul and access markets. Siklu delivers scalable, carrier-grade millimeter wave Gigabit Ethernet radio solutions for mobile backhaul, Carrier Ethernet business services, enterprise, and vertical applications. Its EtherHaul radios use a silicon-based millimeter wave design the company says can deliver gigabit speeds over uncongested spectrum while costing as little as 20% of competing systems and offering low total cost of ownership. Products incorporate on-board advanced networking capabilities and a miniature picocell architecture aimed at cost-effective 4G/LTE backhaul. The company reports hundreds of links deployed in Europe, initial trials in the U.S. and India, and design wins from leading mobile operators. Siklu will use the Series B proceeds to extend its picocell backhaul product line for 4G/LTE and beyond and to expand marketing and sales in the U.S. and Indian markets. It recently closed a $19M Series B to fund these plans. Founded/operating since 2008, Siklu is a Delaware company with R&D and operations near Tel Aviv, Israel.

Participated · Equity · Sep 2013

OmniGuide Surgical develops and manufactures the BeamPath® Laser System, a flexible fiber-enabled CO2 laser platform for minimally invasive surgery. The company designs and manufactures its system in Cambridge, Massachusetts using proprietary technology invented at MIT. The BeamPath system has been used in nearly 100,000 surgical procedures, primarily in Gynecology and ENT. OmniGuide positions CO2 laser energy as causing less tissue damage versus other advanced energy products, which it says can improve surgeon experience and patient outcomes. The company distributes the BeamPath Laser System in the U.S. through a direct sales force. OmniGuide recently closed a $15 million equity financing to support commercialization and product launches into the ENT market and further growth in Gynecology. OmniGuide is a Cambridge, Massachusetts-based medical device company specializing in advanced energy surgical products for the operating room. Its core product is the BeamPath® flexible laser system, which has been used in over 40,000 adult and pediatric surgical procedures across gynecology, ENT and neurosurgery. The company’s fiber products are based on proprietary technology invented at MIT and originally published in Science and Nature. OmniGuide distributes in the U.S. through a direct sales force and in Europe through distribution partners. Led by President and CEO Scott Flora, the company intends to use the proceeds of the recent financing to accelerate commercialization of its advanced energy surgical products. The company closed a $35M financing with an affiliate of OrbiMed Advisors. OmniGuide produces BeamPath, a flexible optical fiber used to guide CO2 laser beams in surgery. The company said it will use the new funding to expand its laser surgery business. BeamPath has been used in more than 3,000 surgeries, including procedures for head and neck cancers, airway clearing, and hearing restoration. More than 200 hospitals in the U.S. and Europe use the system. OmniGuide reported $2 million in revenue last year and CEO Yoel Fink told VentureWire he expects the company to be profitable in 2009. The company has about 80 employees and originally licensed the technology from MIT. OmniGuide is based in Cambridge, Mass.