• ClearEdge Power

  Led · Series E · Aug 2011

  ClearEdge Power is a Hillsboro, OR-based manufacturer of scalable, distributed power systems that range from 5 kW to multiple megawatts. Led by President and CEO David B. Wright, the company provides clean, distributed power systems for commercial and utility applications. It has over 30 MW installed across hotels, hospitals, schools, data centers, industrial campuses and utilities. In February the company acquired UTC Power, a developer of fuel cells. On March 18, 2013 ClearEdge raised $36m in equity financing; backers were not disclosed. The company intends to use the capital to support manufacturing operations and expand sales activities. ClearEdge Power designs, manufactures and markets the ClearEdge5, a scalable stationary fuel-cell appliance that converts natural gas to electricity and heat for commercial, institutional and residential buildings. The company targets light commercial applications with a modular solution that can be sized to meet individual energy needs and reduce environmental impact. ClearEdge reports year-over-year revenue growth of more than 480% in the recently completed second quarter of 2011 and has created over 150 high-tech jobs in the last three years (more than 300% growth). Recent milestones include a $2.8 million combined industry and government award from the DOE’s Pacific Northwest National Laboratory, new customer wins, and international expansion activity including deals tied to South Korea. ClearEdge’s management systems are certified to ISO 9001 and ISO 14001. The company plans to use new funding to grow customer adoption in key commercial markets, expand internationally, and develop and commercialize new products. ClearEdge Power is based in Sunnyvale, California, and Hillsboro, Oregon. The company designs, manufactures and markets the ClearEdge5 system, a proven fuel cell appliance that cleanly converts natural gas to electricity and heat. The ClearEdge5 is described as offering significant financial and energy savings and a reduced environmental impact. ClearEdge received a $1M strategic investment from Southern California Gas Co. intended to help accelerate product development. The investment is presented as a strategic addition to SoCalGas's clean energy portfolio. The company is led by President and CEO Russell Ford. ClearEdge Power produces the ClearEdge5, a home fuel cell that turns propane or natural gas into hydrogen and then into about 5 kilowatts of electrical power while recapturing heat for water heaters and HVAC. The unit achieves roughly 90 percent efficiency when heat is counted and retails near $50,000 (about $37,500 after government rebates). The company has been in operation for seven years and is focused on expanding adoption, particularly in California where a rebate is available. ClearEdge recently tripled its staff in less than a year and is looking to double it again as it scales. Management intends to use additional funding to improve the technology and drive down the price to reach more middle-class consumers. The article also notes competition from larger-funded firms like Bloom Energy but positions ClearEdge as focused on residential customers.

• Practice Fusion

  Participated · Series B · Apr 2011

  Practice Fusion provides a cloud-based electronic health record (EHR) platform that connects doctors, patients and data to coordinate care across the U.S. Its product supports over five million patient visits a month and connects with more than 600 partners. The company serves more than 30,000 practices across all 50 states and added over 5,000 new active medical practices in 2015. In 2015 Practice Fusion realized year-over-year revenue growth of more than 70 percent and was on track to meet or exceed key growth targets for 2016. The company plans to use new capital to expand its product suite, grow its data solutions business, and advance interoperability to increase connectivity across the healthcare ecosystem. Practice Fusion is headquartered in San Francisco and was founded in 2005. Practice Fusion builds a widely used electronic health records (EHR) platform and patient-facing services. The company emphasized a mobile push, noting many doctors use iPads and patients use smartphones, and plans consumer-facing tools to launch early next year. Management said it will deploy new capital toward growth and M&A activity, citing a prior acquisition of 100Plus. Practice Fusion recently surpassed 300 employees and facilitated more than 55 million patient visits. Product expansions this year included the Patient Fusion booking and reviews portal, the first generation of its Insight data analytics platform, over 300 lab partners, and imaging and billing APIs. CEO Ryan Howard said the company plans to double in size and become profitable with the new capital. Practice Fusion offers a free EMR platform that enables doctors to prescribe, order labs, document visits, and communicate with providers and patients. Since its founding in 2005 the company has attracted over 100,000 doctors and now manages more than four million patient visits, with visits growing 75% year‑over‑year over the past ~24 months. It has productized its clinical dataset with offerings such as Insight (a subscription research tool) and Patient Fusion (patient reviews and appointment booking), and exposes APIs for developers. Practice Fusion says its de‑identified dataset is the largest realtime clinical dataset in the U.S., and data products have become a significant driver of revenue, with company growth rates up 300% since 2012. Enterprise partnerships include relationships with 18 of the 20 largest pharmaceutical companies and over 300 labs, billing and imaging centers; in September the platform processed more than one million lab transactions and 2.7 million prescriptions. The company plans to expand its team, APIs and data platform further as it pursues a potential IPO. Practice Fusion offers a free, web-based EMR platform (desktop and iPad app) that lets physicians chart data, schedule appointments, e-prescribe, work with labs, and distribute referral letters. It monetizes by allowing labs, pharmacies, and other service providers to pay to advertise within the platform. The company hosts about 40 million patient records and serves roughly 150,000 doctors and medical professionals (up from 25 million records and 130,000 clients seven months earlier). Practice Fusion reported Q1 2012 revenue was comfortably in the seven-figure range, a more than 500% increase versus Q1 2011, and says it has "a lot of cash on hand." Growth priorities include a patient acquisition strategy, building out its app platform, hiring (170 employees now; expecting ~250 by year-end), and attracting more doctors. Leadership has publicly signaled an IPO ambition and is investing in a San Francisco office and employee programs to support rapid expansion. Practice Fusion is a San Francisco-based Electronic Medical Record (EMR) community that offers a free, web-based EMR system for physicians. Its platform includes charting, scheduling, e-prescribing (eRx), lab integrations, referral letters, Meaningful Use certification, support, and a Personal Health Record for patients. Led by CEO and founder Ryan Howard, the company serves an EMR community of more than 130,000 users and 29 million patients. The company raised more than $2M in additional funding from backers including Jed Stremel, Ali Partovi and Hadi Partovi. Practice Fusion intends to use the funding to introduce new free features for physicians and patients and to develop mobile apps for the iPhone and iPad. The company is actively hiring.

• Tilera

  Led · Equity · Jan 2011

  Tilera develops highly scalable general purpose multicore processors for networking, wireless and multimedia infrastructure applications. It sells TILE64 and TILEPro product families and plans to ship its TILE‑Gx family in early 2011. Its processors use the company’s iMesh architecture that scales to hundreds of RISC-based cores on a single chip. The company intends to use the new capital to accelerate development of its fourth‑generation processor family, expand sales and marketing, and launch new products for cloud computing and communications markets. Tilera closed a $45m funding round and was founded in 2004; it is led by CEO Omid Tahernia and maintains offices in San Jose (headquarters), Westborough, Yokohama, Shanghai and Beijing. Tilera develops multicore embedded processors, multicore software development tools, and boards for networking, digital multimedia and wireless infrastructure markets. Its product lineup includes the TILEPro multicore processor, which the company says delivers the performance computing needed for embedded applications. Founded in 2004, Tilera targets processing and power requirements of embedded systems. The company plans to use new funding to expand sales operations and for product development. Following this round, Tilera has raised a total of $64 million to date. The Series C was backed by Broadcom, Quanta Computers and NTT Financing.

No current team members are available.