Participated · Series A · Oct 2019

Radius Networks builds a machine-learning location platform used to conduct location-based transactions between businesses and customers. Its core offerings include customer and asset location, curbside and in-store pickup, mobile loyalty and redemption, and mobile payment at the table, delivered in part via its FlyBuy® SaaS product. The company serves some of the world’s largest brands across restaurants, retail, grocery, hospitality, and gaming markets. Radius Networks’ solutions are installed in more than 30,000 locations across 45 countries. The company is led by CEO Marc Wallace. It plans to use the new funding to further invest in sales and marketing around FlyBuy. Radius Networks is a Washington, DC-based provider of mobile proximity beacon services and cloud-based proximity solutions. Its core product uses wireless device signals for proximity and presence detection to enable targeted mobile offers, integrated payments, dynamic digital signage and personalized concierge services. The company’s services are used by major retailers, restaurant chains, sports teams, arenas and other brick-and-mortar operations for business intelligence and customer engagement. Radius plans to use the new funding to accelerate growth of its proximity network and the infrastructure that supports enhanced mobile user-experience features using beacon, geofencing and other technologies. Led by Co-Founder and CEO Marc Wallace with David Steinberg as Chairman, the company completed a strategic acquisition of mobile content management company 4DK in April 2014.

Participated · Series A · Apr 2019

Aptology offers a Sales Fit-to-Role platform that provides sales leaders a full 360° view into an individual’s fit for a given role and a PredictiveFit™ score forecasting the likelihood that a current or potential team member will exceed targets. The product is positioned to help sales organizations hire, develop and retain talent by surfacing performance drivers. The company is led by founder and CEO Bill Walsh and co-founder and Chief Psychologist Suchi Pathak. Aptology is based in San Francisco, CA. It plans to use the new funding to continue to expand operations. Financially, the company completed an $8.4M Series A in April 2019.

Participated · Series B · Dec 2016

Pendo offers a product platform that combines in-app messaging with product analytics, user feedback and roadmapping tools to enable product teams to decide what features to build and how to accelerate adoption. Founded in 2013 by CEO Todd Olson, the company is based in Raleigh, North Carolina. Pendo serves more than 2,000 customers, including Verizon, RE/MAX, LabCorp, OpenTable, Okta, Salesforce and Zendesk. The platform is aimed at improving software development processes and product adoption across software companies and digital enterprises. The company’s recent secondary transaction valued Pendo at $2.6 billion. Future plans referenced in the coverage include continued product innovation and growth supported by new investor resources. Pendo provides a product adoption platform that helps companies bridge the gap between how users expect software to work and their actual experience using it. The platform enables product and IT teams to drive adoption of software built for customers or provided to internal employees. Customers include software companies and digital enterprises such as Verizon, RE/MAX, LabCorp, OpenTable, Okta, Salesforce and Zendesk. Pendo plans to use new funding to accelerate global expansion, pursue strategic acquisitions and continue innovating its platform. The company reported surpassing $100 million in annual recurring revenue. Pendo was founded in 2013 by CEO Todd Olson and is based in Raleigh, NC. Pendo integrates with customer applications to capture user behavior and feed that data back to product teams to help prioritize features and improve user experience. Its product also offers in-app walkthroughs, feature announcements and feedback collection to guide and learn from users. The company says its customer base has expanded beyond tech into insurance, financial services and retail; today it serves more than 1,200 customers. Pendo reported it has now raised $206 million in total financing. Leadership says the new capital will be used to grow go-to-market and product teams as it helps define and realize a large market opportunity. The executive team is preparing corporate structure options to position the company for a possible public offering in the future. Pendo, founded in 2013 by CEO Todd Olson, is a product cloud that provides user insight, user guidance and user communication for digital product teams. Its platform lets teams understand product usage, collect feedback, measure NPS, onboard users, and announce new features in-app. The company also publishes ProductCraft, an editorial site for product leaders, and runs Pendomonium, a product conference. Pendo counts more than 600 customers, including Zendesk, LexisNexis, Coupa, Gainsight, BMC and Sprinklr. It employs 227 people across four global offices in Raleigh, San Francisco, New York City and Yakum, Israel. The company plans to continue expanding into enterprise markets and grow internationally in Europe and Asia while investing in sales, marketing and R&D. Pendo provides product teams with in‑app analytics, polls, feedback collection, and guidance to help businesses analyze user engagement and improve product decisions. The company targets satisfaction metrics such as net promoter score and has reported customers like Cisco Cloud seeing a 20% increase in NPS after using the platform. Pendo’s product insights include findings such as customers typically spending only 10 hours in a 30‑day trial, which it uses to inform product design recommendations. The startup has grown rapidly to 106 employees across offices in San Francisco, New York and Raleigh. Leadership says the roadmap will add more depth to core pillars and the company is positioning to expand internationally. The team emphasizes in‑product feedback to increase response rates versus channels like email.

Participated · Series B · Aug 2014

Fugue provides a dynamic, software-defined cloud orchestration and enforcement system that enables users to manage cloud infrastructure at scale. It supports customers through the entire cloud journey, from migrating legacy applications from the datacenter to deploying container-based and serverless workloads. The company is preparing to launch new enterprise-grade cloud infrastructure automation products that offer enhanced team collaboration, dynamic infrastructure control, and continuous enforcement of regulatory compliance. Fugue plans to use the newly raised funds to accelerate its go-to-market strategy and to speed product development. The company closed an approximately $41m Series D round, bringing total funding to more than $75m. Fugue is led by co-founder and CEO Josh Stella and is based in Frederick, Md. Fugue (formerly Luminal) builds what it describes as an operating system for the cloud, enabling businesses to declare their desired cloud infrastructure and set policies for accessing it. The product also helps organizations migrate datacenter workloads to the cloud and is currently focused on AWS as its main target platform. Fugue's core product was in closed beta at the time of the report, and the company rebranded and updated its logo to reflect that focus. The company positions itself alongside IT automation tools like Chef, Puppet, and Ansible but emphasizes infrastructure and can be used in parallel with existing DevOps tooling. Josh Stella is the founder and CEO. Fugue is based in Frederick, MD and Washington, DC and recently secured new funding to support its development. Luminal offers a cloud management service that automates deployments and configuration using declarative control and ephemeral, immutable infrastructure patterns to reduce configuration drift and improve security. The product is targeted at businesses moving infrastructure to the cloud and will first be available on Amazon Web Services. The service is currently in private beta while Luminal works with early customers. With the new funding, the company plans to grow its team and expand its beta customer base ahead of a full launch. Competitive peers mentioned include RightScale, Platform9, large vendors like VMware, and projects such as CoreOS. Financially, Luminal has raised a total of $13.8M to date.

Participated · Series B · Jan 2013

Founded in 2005 and based in New York, Olo provides a customizable transactional SaaS tech stack to restaurant chains, serving roughly 250 chains and more than 50,000 restaurants. The company charges around $100 per month per store plus a small per-transaction fee, with typical agreements of 36–60 months. Its product suite includes Dispatch (a courier-finding service that partners with delivery providers) and Rails (an API that enables third-party marketplaces like DoorDash and Postmates to route orders into restaurants’ POS). Olo processes orders through deep POS integrations and reports processing more than 100 million orders last year—equal to the first 12.5 years of the company’s history. Operational metrics cited include an average delivery time of 12–13 minutes, more than 90% of orders as pick-up, and delivery accounting for roughly 3% of demand. The company has about 175 employees (roughly half in engineering) and says it has a strong balance sheet and no present need for primary capital, while aiming to build independently toward a future exit event. Olo provides white‑label software that integrates with in‑store point‑of‑sale systems and website checkouts to power online ordering and pickup for large restaurant chains. The company works with over 150 restaurant groups, including Chipotle, Five Guys and Jamba Juice, and reports nearly 100% customer retention. After ten years in the order pick‑up business, Olo has launched Dispatch to coordinate third‑party delivery providers. Dispatch will reach out to delivery providers, including Uber and Postmates, to find the fastest and cheapest driver. Olo positions itself toward large chains (in contrast to Square’s traction with mom‑and‑pop shops) and aims to be the “Kayak.com for delivery.” The company says it is not in a rush to pursue an IPO. OLO provides an end-to-end online and mobile ordering solution for sit-down and quick-serve restaurants, enabling ordering, payments, and detailed customer data. The platform powers restaurant-branded mobile apps and can integrate multiple payment options, including PayPal and Google Wallet. OLO uses its ordering data to enable targeted offers, personalized promotions, and customer loyalty features for partners. The company reports rapid user growth (nearly 2.25 million customers) and works with roughly 3,000 individual restaurants, with a pipeline including major QSR chains representing 27,000 units. OLO reached profitability in mid-2012 and is expanding its engineering headcount to support expected scale and mobile adoption. OLO is a web and mobile online ordering service that lets customers order ahead and pay online or via mobile for takeout and delivery, routing orders directly to restaurants' POS systems. The company takes a percentage of each transaction and provides white‑label mobile apps and menu integration for brands. OLO powers ordering for chains including Subway (NYC locations), Five Guys, Cold Stone Creamery, SONIC, La Boulange, Fatburger and Nando’s, and also runs the consumer-facing GoMobo service. The company recently hit 1 million customers, counts over 150 restaurant brands and thousands of individual restaurant stores, and has seen 10x growth over the past 16 months. OLO is preparing a GrubHub integration that will make OLO-powered restaurants orderable and payable via GrubHub, and plans to expand Nando’s support to the U.K. and Australia and into Latin America and Canada in 2012. In 2008 OLO received $7 million in additional funding from RRE, Founder Collective and Core Capital, bringing total funding to date to $8.75 million; CEO Noah Glass said they are not looking to raise additional capital now.