Participated · Equity · Mar 2026

Based in Palo Alto, ArmorCode offers an Agentic AI Platform that aggregates and prioritizes security findings across applications, code, cloud, infrastructure and AI systems, enabling security teams to move from fragmented data to policy-driven, auditable remediation. Its solutions span Application Security Posture Management, Vulnerability Management, Software Supply Chain Security, and the newly announced AI Exposure Management product. The platform processes more than 200 billion findings annually through hundreds of native integrations and is already used by Fortune 500, Fortune 1000 and Global 2000 enterprises. Nearly 80 percent of existing customers are driving the company to deepen its AI security capabilities, and the business has doubled year-over-year. Future plans include expanding the Agentic AI Platform via the Anya Agentic Framework, broadening MCP server support, and growing global go-to-market and partner programs across North America and EMEA. The company has now raised a total of $81 million to fund these initiatives and recently added noted cybersecurity leader Phil Venables to its board.

Participated · Equity · Feb 2025

Bitwise Asset Management is a crypto-specialist asset manager that offers a broad suite of 32 investment solutions across beta, alpha, and onchain strategies. Its product set includes yield and alpha strategies, multi-strategy solutions, separately managed accounts, onchain staking, index funds, and bitcoin ETPs. The firm ended 2024 with more than $12 billion in client assets after more than 10x growth during the year. Proceeds from the $70 million equity raise will bolster the firm's balance sheet and accelerate buildout of investment capabilities and investor solutions. Bitwise has offices in San Francisco, New York, and London and employs more than 100 technology and investment professionals, with plans to grow headcount to over 130 this year. More than 5,000 wealth teams, RIAs, family offices, institutional clients in the U.S. and Europe, and over 15 banks, broker-dealers, and platforms use Bitwise products. Bitwise Asset Management is a cryptoasset manager that runs a large crypto index fund (OTCQX: BITW) and a suite of products including the Bitwise 10 Crypto Index Fund, Bitwise Bitcoin Fund, Bitwise Ethereum Fund, and targeted products for DeFi and crypto equities. The firm recently launched the Bitwise DeFi Crypto Index Fund and the Bitwise Crypto Industry Innovators ETF (NYSE: BITQ), which tracks the Bitwise Crypto Innovators 30 Index of pure-play crypto equities. Bitwise focuses on partnering with financial advisors and investment professionals, providing education and research alongside its product lineup. The company manages over $1.2 billion in assets across its investment solutions and is currently profitable. Bitwise plans to use new capital to strengthen its balance sheet and accelerate a national buildout of its organization, team, and product suite. The firm is led by CEO Hunter Horsley and is based in San Francisco, CA. Bitwise Asset Management, founded in 2017 by Hunter Horsley and Hong Kim, is a San Francisco-based cryptocurrency investment startup. The company develops funds, indexes, insight, and other services for individuals, wealth managers, family offices, investment managers, and institutions. It is launching the Bitwise HOLD 10 Private Index Fund, a cryptocurrency index fund that holds the top-10 most valuable crypto-assets selected and weighted by market capitalization. The fund rebalances monthly and is designed to capitalize on hard forks and airdrops. Bitwise raised $4M in seed funding from a group of investors to support its product and growth plans.

Participated · Series E · Nov 2024

Coremetrics provides a SaaS platform for digital marketing optimization, combining advanced online analytics with precision marketing applications such as search engine bid management, email marketing, and cross-sell tools. Its solutions are integrated into IBM's WebSphere Commerce. The company serves over 1,000 online business sites transacting over $15 billion this year and grew its customer base by 46% over the past year. Coremetrics reports sales win rates approaching 70% and has displaced competitors across online retail and other sectors. The firm says it will use new capital to continue record sales growth, accelerate marketing programs, and expand sales capacity, with investor 3i highlighting international expansion opportunities in Europe and Asia. Coremetrics is privately held and headquartered in San Mateo, California. Coremetrics is a San Mateo start-up that provides web analytics to measure traffic and visitor behavior for bloggers and website administrators. Investors injected $31M in new funding to help the company hold its own in a crowded analytics market. Participating investors include FTVentures and previous backers Accel and Highland Capital. The article describes Coremetrics as one of the bigger players in the industry but notes flashy Web 2.0 upstarts such as MeasureMap (just bought by Google) and Blogbeat are getting a lot of buzz. The financing is framed amid expectations of consolidation in the analytics industry. No revenue, user metrics, valuation, or instrument details were disclosed in the article.

Participated · Equity · Nov 2024

Vecna Robotics develops autonomous pallet movers, forklifts, and accompanying software to manage material-handling operations. The company targets automotive, general manufacturing, and high-volume warehousing customers. It plans to use new funding to accelerate its automation technology and improve its products. Vecna recently hired Karl Iagnemma, the former Motional CEO, as its new chief executive; Iagnemma was an angel investor in Vecna in 2020 and brings deep autonomy experience. Financially, Vecna raised $14.5 million in new funding from existing investors and has a history of sizable financings, including $50 million in 2020 and a $65 million Series C that was later extended. The firm is backed by investors such as Tiger Global Management, Proficio Capital Partners, Blackhorn Ventures, and Highland Capital Partners. Vecna Robotics develops flexible material-handling automation solutions—self-driving forklifts, pallet jacks, tuggers—powered by its Pivotal orchestration software and a 24/7 Command Center. The company sells into distribution, warehousing, and manufacturing and cites customers including GEODIS, FedEx, Caterpillar, and Shape. Over the past year it reported triple-digit revenue growth, more than a 100% increase in deployments, and claims customers have seen upwards of 70% performance improvements in ground-to-ground workflows. Vecna plans to use recent financing to fund workflow-specific innovations, release next-generation platforms, and continue investing in cloud/software updates to its Pivotal Command Center. The company also announced the appointment of Michael Helmbrecht as COO to oversee operations, manufacturing, IT, product, and customer success as it scales. Massachusetts-based Vecna Robotics develops autonomy for pallet moving and forklift-centric warehouse activities, aiming to replace manual forklifts with robotic systems. The company focuses on both hardware and software for automated material handling and plans to accelerate its product roadmap. Vecna says it will use new funding for R&D on software and hardware, fulfilling orders, and expanding operations. The firm highlights the large market opportunity, noting over 5 billion pallets moved by more than 5 million forklifts and nearly 5 million manual operators. After hiring a new CEO, Craig Malloy, and CMO Josh Kivenko following its prior round, Vecna is positioning to scale deployments and meet demand for increased throughput in factories and warehouses. The company has seen increased investor interest amid pandemic-driven labor shortages in logistics. Vecna Robotics delivers autonomous material-handling solutions via self-driving vehicles powered by its proprietary Pivotal™ software and supported by a 24/7 customer service team. Its systems automate cross-docking, line-side delivery, replenishment, case-picking, kitting, goods-to-person and person-to-good workflows, including oversized and non-standard SKUs. The company’s solutions are used by customers in distribution, warehousing, and manufacturing, with deployments at FedEx Ground, Milton CAT, DHL Supply Chain, GEODIS and Medline. Led by founder and CEO Daniel Theobald, Vecna emphasizes continuously improving software and workflow orchestration. The company intends to use new funds to expand its presence and accelerate development of new product offerings.

Participated · Series D · Jun 2024

Eko Health develops AI-enhanced digital stethoscopes and companion software that combine acoustic heart and lung sounds with ECG to aid detection of cardiac conditions. Founded in 2013, the company has sold its stethoscope to more than 500,000 physicians and healthcare providers and has amassed chest-sound and ECG data from millions of patients to train its algorithms. Eko has received FDA clearance for three algorithms, including an April clearance to help detect early signs of heart failure and recent clearance to detect heart murmurs. The company positions its AI to improve the consistency and accuracy of routine exams, bringing cardiology-level assessment to primary care and frontline clinicians. Eko plans to use the new funding to train algorithms to detect pulmonary conditions such as asthma and pneumonia and to expand sales of its device and software outside the U.S. Clinical validation includes a Massachusetts General Hospital study that found Eko’s AI identified more than twice as many patients with heart disease compared to primary care doctors. Eko develops smart stethoscopes and an FDA-cleared AI platform used by hundreds of thousands of healthcare professionals worldwide to detect and monitor heart and lung disease. The company collects phonocardiogram (PCG) and electrocardiogram (ECG) data with its DUO ECG + Digital Stethoscope to train machine-learning algorithms. Eko has partnered with Lifespan Health System’s Cardiovascular Institute to develop an algorithm that detects and stratifies pulmonary hypertension (PH). The goal is an easy-to-deploy, low-cost tool that enables earlier and more accurate identification of PH and improves clinical decision-making. Eko’s work aims to reduce long diagnostic delays and provide a scalable alternative to costly, invasive gold-standard tests. Eko develops digital stethoscopes with features such as noise-canceling, recording, and visualization of heart sounds alongside FDA-cleared clinical support algorithms. In 2020 the FDA granted 510(k) clearance to a suite of Eko algorithms for detecting heart murmurs and atrial fibrillation, and additional clinical results were published in The Journal of the American Heart Association in 2021. The company has launched Eko App, which integrates those algorithms to capture heart sounds and ECG data in the background and provide immediate analysis or summary reports in the exam room. Eko positions this software as a clinical decision support system to help clinicians—particularly in ambulatory and rural primary-care settings—interpret cardiac data. The company is pursuing broader screening for structural heart disease and heart failure, and an independent NHS trial with Mayo Clinic collaborators showed an algorithm could flag LVEF around 40% after 15 seconds of listening, though that algorithm has not yet received FDA clearance for clinical use. Eko plans to commercialize these capabilities and continue product development backed by recent funding. Eko develops a platform that pairs advanced sensors and clinician- and patient-facing software with AI algorithms to elevate detection and monitoring of cardiac and respiratory disease. The company reinvented the stethoscope and introduced a combined handheld digital stethoscope and electrocardiogram (ECG), and its AI analysis is FDA-cleared to help detect heart rhythm abnormalities and structural heart disease. Its FDA-cleared platform is used by tens of thousands of clinicians treating millions of patients around the world, both in-person and via telehealth. Eko has recently launched a telehealth platform and achieved product milestones including clearance of its AI suite. The company plans to expand in-clinic use of its telehealth and AI platform and to launch a home monitoring program for cardiopulmonary patients. Eko is headquartered in Oakland, California and announced new funding to accelerate growth. Eko develops advanced sensors, clinician and patient software, and AI algorithms integrated into a digital stethoscope platform for cardiac and respiratory disease detection and monitoring. The company’s cardiac AI algorithms are cleared by the U.S. Food and Drug Administration and it has launched an AI-powered telehealth platform. Its technology is used by tens of thousands of clinicians, in more than 1,000 institutions worldwide, treating millions of patients. Eko is headquartered in Oakland, California and is privately held. The company has strategic investors including ARTIS Ventures, NTT Venture Capital, DigiTx Ventures, Mayo Clinic, and Sutter Health. Ongoing clinical validation with academic partners is a stated priority to extend cardiologist-level auscultation to general practitioners.