Participated · Series C · Jul 2018

Founded in June 2014 by Wang Xueji and Chen Liaohan, Tuya Smart is a technology‑driven global intelligent platform offering one‑stop AI+IoT solutions including smart module integration, IoT cloud services and app development. The company develops an IoT OS with Plug‑and‑Play capabilities intended to accelerate product development and global deployment, and reports dramatically shortened development cycles for certain lighting/electrical solutions (from months to as little as one hour). Tuya builds localization across product, channel, supply and after‑sales to support market entry (example: Japan) and operates an ecosystem that invites partners onto its platform and provides talent and capital programs. As of its 2017 B round disclosures, the platform reached nearly 200 countries/regions, sold smart products to 100+ countries, served over 10,000 customers, supported ~11,000 smart products, processed over 20 billion device requests per day, handled 6 million daily voice AI interactions and accumulated ~1 PB of data. The company plans to leverage its AI+IoT technology and data to deepen deployment in three verticals—Smart Home, Smart Business and Smart City—and to continue enabling B2B and public‑sector smartization.

Participated · Equity · Dec 2012

DataCastle's core product automatically protects mobile data on laptops, desktops and tablets. The company sells its Datacastle RED product and recently secured a multi-year deal with Seagate’s i365 unit to resell RED under the EVault brand. DataCastle has been working closely with Microsoft on security for Windows Azure, Windows Storage Server and the upcoming Surface Pro. CEO Ron Faith said the new capital will be used to continue fueling growth through expanded channel partnerships and geographic expansion. The startup raised $3 million in fresh funding and now has $16 million in total funding. Founder and CTO Gary Sumner is a former 10-year Microsoft veteran and hails from Australia. Datacastle develops technology to protect corporate data on lost or stolen laptops, smartphones, tablets and other mobile devices. Its technology already powers Seagate’s EVault system, and the company said additional deals will be announced shortly. The new $2.4M financing will be used to grow its channel partnership program and hire engineers. Total funding for the company now stands at $13 million. Founder and CTO Gary Sumner is a former Microsoft engineer based in Seattle, and some staff are located in Australia; CEO Ron Faith previously led mobile and broadband commerce at Qpass. The company says it has seen massive growth over the past year in a rapidly expanding mobile data-protection market, where about 10 percent of corporate laptops are lost or stolen over their lifecycle (FBI). Datacastle is a Seattle, WA-based provider of mobile workforce data protection solutions. Its core product is Datacastle RED™, an endpoint backup and data protection solution that provides policy-driven automatic backup, remote data deletion, at-rest encryption, port access control, and device trace for Microsoft Windows and Apple Mac OS X devices. Datacastle RED can be operated as an on-premise private cloud service or in public cloud infrastructures such as Microsoft Windows Azure or Amazon Web Services. The company recently closed partner agreements with Seagate i365, Systemax MISCO Germany, and Computerlinks to distribute Datacastle RED. Datacastle completed a $2m financing and intends to use the funds for channel expansion. The company is led by President and CEO Ron Faith.

Participated · Series D · Mar 2012

ThreatMetrix is a San Jose, California–based digital identity company that provides cloud solutions to authenticate digital personas and transactions. Its platform helps secure businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches. The ThreatMetrix solution is deployed across financial services, e-commerce, payments and lending, media, government and insurance. The company received $30M in mezzanine growth capital and has raised $84M in aggregate financing to date. ThreatMetrix intends to use the funds to expand its global data center presence, accelerate sales and marketing into new markets, and grow business operations into 2017. Leadership is led by CEO Reed Taussig and CFO Frank Teruel. ThreatMetrix provides context-based security and advanced fraud prevention via its TrustDefender Cybercrime Protection Platform and the ThreatMetrix Global Trust Intelligence Network. The Network analyzes more than 500 million transactions monthly and protects over 160 million active user accounts across 2,500 customers and 10,000 websites. Recent product innovations include ThreatMetrix Persona ID, Trust Tags and the Global Policy Engine to better distinguish trusted from criminal events. The company emphasizes frictionless context-based authentication using anonymous identity, device, geolocation and behavioral signals and is expanding mobile security (mobile was one-third of Network transactions in 2013, projected to reach 50% by end of 2014). ThreatMetrix plans to broaden The Network’s reach, build new TrustDefender capabilities, expand into enterprise security, healthcare, gaming and insurance, and continue geographic expansion in Europe, Asia and North America. The company reports substantial market traction and a customer base exceeding 2,500 organizations. ThreatMetrix provides cybercrime prevention solutions, with particular strength in device authentication and fraud protection for e-commerce, banking/financial services, and enterprises. The company acquired TrustDefender in December 2011 to bolster its security offerings. ThreatMetrix has reported 300% year-on-year sales growth and serves 700 large customers across 5,000 websites and roughly 1 billion devices. International business already accounts for 40% of the company’s revenues. ThreatMetrix plans to use new funding to expand in e-commerce, financial services, enterprise device management (including BYOD) and to grow its international presence. CEO Reed Taussig has highlighted device authentication and financial services as areas of particularly strong demand. ThreatMetrix offers fraud-prevention technology that detects and prevents fraudulent activity across social networks, e-commerce sites, online gaming and financial-services platforms. Its system authorizes payments, verifies accounts and devices, and recognizes when users sign on from different computers. The company recognizes returning customers using anonymous data mined from visitors' computers and TCP/IP packets, matching activity in real time against a profiled database of computers and transactions. ThreatMetrix has brought on over 250 customers, including Offerpal Media, GoPro, Adknowledge, BillMyParents, BigCrumbs.com and OnlineLabels.com. The startup plans to use the new funding to build out its international business; roughly 25% of its revenue already comes from offshore business. Its financing to date totals over $18 million.

Led · Equity · May 2011

Pathway Therapeutics is developing novel therapeutics that target the PI3K and mTOR pathways, focusing on selective inhibitors for cancer and inflammatory diseases. Its lead candidate, PWT33597, is a proprietary, selective dual inhibitor of PI3K kinase alpha and mTOR and is the first agent with this profile to enter the clinic after the FDA accepted an IND. The Phase 1 single-agent, dose-escalation study will evaluate safety in patients with advanced solid tumors and collect pharmacokinetic and pharmacodynamic data along with an early assessment of clinical activity. The company has also advanced a second program, a PI3K delta selective inhibitor, into lead optimization. Coincident with these development milestones, existing investors GBS Ventures and CM Capital Investments invested an additional $7.5 million to support clinical progress. The privately held company was founded in 2008 based on technology from the University of Auckland and is located in San Francisco; it has continued to recruit key management as it moves programs into the clinic. Pathway Therapeutics is a San Francisco–based drug discovery and development company focused on inhibitors of PI3 kinase and mTOR. Its lead program is PWT33597, a dual inhibitor of PI3 kinase alpha and mTOR that the company intends to advance to the clinic in 2011. The company also pursues discovery of isozyme-selective and irreversible PI3K inhibitors. Pathway was founded in New Zealand and has re‑incorporated as Pathway Therapeutics, Inc. in the United States. It raised a US$4.5m fourth tranche of its Series A private equity round to fund clinical advancement of PWT33597 and ongoing discovery efforts. PI3 kinase and mTOR are described as key enzymes controlling cell growth and of interest as cancer and inflammation therapeutic targets.