Participated · Equity · Sep 2022

Tegus operates a research platform offering institutional investors real-time access to over 50,000 expert interviews, 4,000+ downloadable financial models, workflows to surface and analyze data from SEC filings, and expert interview services. The product streamlines how investment firms, corporations, and consultancies conduct primary and model-driven research. Tegus serves more than 2,500 customers worldwide. Founded in 2017 by twin brothers Michael and Thomas Elnick, the company recently expanded its core solution by acquiring Canalyst to add accurate, customized, downloadable models on companies and industries. Financially, Tegus announced a $20M investment from Positive Sum and existing investors. As part of the financing, Patrick O’Shaughnessy will join the Tegus board as an observer. Tegus conducts primary research and aggregates business and market data into a primary information platform for decision makers. The company says its platform enables clients to discover answers to challenging questions faster and more efficiently than elsewhere. Tegus serves more than 1,000 customers worldwide, including investment firms, corporations, and consultancies, and has a headcount of over 300 employees. The company plans to hire more than 400 new employees next year as it scales sales, product, and engineering teams to meet customer demand. Tegus intends to use its Series B proceeds to continue rapid expansion, broaden its data offering, and accelerate development of its product suite. Founded in 2017 by twin brothers Michael and Thomas Elnick and based in Chicago, the team also added CPO Tim Anderson, CTO Ryan Aylward, and GC/CCO Jason Howard.

Participated · Series B · Apr 2021

OneStream offers a single, extensible intelligent finance platform that unifies planning, financial close & consolidation, reporting and analytics for enterprise finance teams. The company positions itself as a replacement for legacy CPM tools and point solutions. It serves over 650 customers with a partner network of roughly 200 and more than 700 employees. OneStream reported 86% growth in annual recurring revenue (ARR) in 2020 and said Q1 2021 bookings grew over 200% with ARR up 100% year-over-year. The company plans to use new capital to accelerate global expansion, continue innovating its platform, and grow its solutions marketplace. OneStream is backed by growth investors including KKR, D1 Capital Partners, Tiger Global and Investment Group of Santa Barbara. OneStream offers the OneStream XF SmartCPM platform that unifies financial consolidation, planning, reporting, analytics and data quality in a single cloud or on‑premise application. The company emphasizes extensibility via its XF MarketPlace, having delivered more than 50 downloadable solutions to accelerate time to value. OneStream reported 137% year‑over‑year growth in software sales in 2018 and record profitability, adding more than 120 customers (bringing the total to more than 300) and over 90 employees globally that year. More than 75% of new customers replaced Oracle Hyperion, SAP, IBM or other legacy products, sometimes eliminating many legacy systems by migrating to OneStream. The platform earned FedRAMP Moderate authorization to expand reach in the U.S. public sector and posted market‑leading customer satisfaction ratings on Gartner Peer Insights (4.9 and 4.8 in relevant categories). OneStream also expanded offices in Germany, France and Spain, forged 30+ strategic partnerships (including PwC and EY), and is evaluating new markets for further expansion.

Participated · Series B · Apr 2021

OneStream offers a toolkit of enterprise financial operations software that handles reporting, planning, tax and broader corporate performance management. Its platform helps customers replace spreadsheets and legacy CPM applications by consolidating processes and improving analytics. The company reported annual recurring revenue grew 85% in 2020 and customer count rose 40% to 650 enterprises. Customers include Fruit of the Loom, McCain, AAA, Takeaway.com and the Carlyle Group. OneStream plans to use new funding to build out its tools, meet rising demand, expand further into Asia Pacific, and broaden into adjacent areas such as HR, IT, sales, marketing and supply chain planning. KKR took a majority stake two years ago and remains a substantial and supportive shareholder.

Participated · Seed · Feb 2021

DataJoy is building a revenue-intelligence product that pulls data from disparate business systems to answer core financial and operational questions for SaaS companies. The product will connect to systems such as Salesforce, HubSpot, Marketo, NetSuite, Gainsight and Amplitude and use machine learning to provide proactive advice. The company is still in product development and is currently pre-revenue. Co-founders include CEO Jon Lee and Chief Product Officer Ken Wong, who previously led AI and machine learning at Tableau. DataJoy currently has 11 employees and plans to double headcount by mid-year. The company is fully remote today and anticipates a presence in Vancouver and San Mateo when offices reopen.

Led · Series A · Feb 2021

Briza provides a commercial insurance-as-a-service API that aggregates carrier quote, bind and payment capabilities into a single unified API to empower developers to build insurance experiences. The company has agreements with 11 commercial insurers, including Liberty Mutual, Berkshire Hathaway Guard, CNA, Hiscox, AmTrust, Markel, EMPLOYERS, Crum & Forster, Acuity, Coalition and Coterie. Briza plans to use the $8M Series A to double the size of its engineering team, deepen insurer API integrations and increase the supply of insurance markets available to insurance retailers, wholesalers and developers. The round brings total funding to date to $11M. Briza was part of 500 Startups Batch 26 in winter 2020 and is led by CEO Ben Munro and CTO Rishi Sharma. The company has 25 employees and is based in Austin, Texas. Briza.io provides an insurance-as-a-service API that lets customers get quotes, pay online, and have insurance policies issued instantly. The platform connects insurance underwriter systems to agencies and enables any app to sell carrier insurance with a few lines of code. Briza positions itself as analogous to Stripe or Plaid for commercial insurance procurement. The company reports partnerships with four carriers, including Crum & Forster, Hiscox, Markel, and Coalition. More than 100 insurance agencies have signed up for its closed beta across the United States. Briza is led by founder and CEO Ben Munro (20 years of insurance experience), along with Rishi Sharma and Dom Bortolussi; it was founded in 2016 and is based in Toronto, Canada. The company has announced it has closed another round of funding, bringing total funding to $3 million.