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The Venture Codex

JMI Equity

100 International Drive, Suite 19100, Baltimore, MD, 21202, United States

Overview

JMI Equity is a growth equity firm focused on investing in software companies. Founded in 1992, JMI has invested in over 145 businesses in its target markets, successfully completed over 95 exits, and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders.

Total investments
71
Lead investments
54
Investments · 12mo
4
Active investors
12

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Gaiia

    Led · Series B · May 2026

    gaiia provides an AI-native platform that replaces fragmented legacy OSS/BSS tools with a single, customizable system covering billing, provisioning, account management, field service, and AI-driven workflows. The company reports customers have run more than 10 million workflows on the platform and that workflow execution grew 10x in the past year. Founded by the team behind oxio and headquartered in Montreal, gaiia leverages operator-led DNA and a commercial model that includes free migrations and forward-deployed engineering. That approach typically brings operators live in 4 to 6 months. gaiia serves a range of operators across fiber, fixed wireless, cable, MVNO, and B2B segments, including Cogeco and Greenlight Networks. The company has achieved three consecutive years of more than 3x revenue growth and plans to use recent funding to expand AI agents, field service, productized migrations, and customer success.

  • Clio

    Participated · Series G · Nov 2025

    Clio is a Vancouver-based legal technology company offering an Intelligent Legal Work Platform that fuses practice management, research, drafting and operational tools into AI-driven workflows. Core products such as Clio Work, Clio Manage, Clio Grow, Clio Draft and the newly re-branded Clio Operate serve firms of every size by connecting the business and practice of law. The November 2025 purchase of vLex adds Vincent AI and a library of more than one billion enriched legal documents across 110 jurisdictions, giving Clio unmatched legal intelligence. The company reports hundreds of thousands of professional users in over 130 countries and endorsements from more than 100 bar associations and law societies. The vLex deal also brings 350+ additional experts in law, data and technology onto the team. Looking ahead, Clio plans to deepen its enterprise push through the "Clio for Enterprise" division and to continue strategic M&A that extends its global reach. Financially, Clio secured a $500 million Series G at a $5 billion valuation and a $350 million debt facility in 2025, equipping it with significant resources for AI innovation and expansion.

  • Vantaca

    Participated · Equity · Oct 2025

    Vantaca provides a cloud-based, AI-native platform (HOAi) that automates critical community association management workflows such as finance, budgeting, communications and resident services. The system embeds “agentic AI” to eliminate routine tasks; customers have already automated more than one million tasks, saving over 100,000 staff hours. The company serves 500+ management firms covering six million households across the United States and has appeared on the Inc. 5000 for five straight years, posting a 95 % year-over-year revenue increase. Integrated payments, business intelligence and vendor/board portals create a unified ecosystem for all stakeholders. Fresh capital will fund deeper AI capabilities, expanded go-to-market programs and new ecosystem features that enhance the homeowner experience. With these metrics and a $1.25 billion valuation, Vantaca positions itself as the category leader in community association software.

  • EdSights

    Led · Equity · Sep 2025

    Founded in 2018, EdSights offers an AI-driven platform that uses personalized, SMS-based conversations to surface real-time insights on issues such as mental health and financial struggles that can jeopardize a student’s success. The system translates millions of student interactions into actionable data for advisors and administrators, enabling targeted interventions that improve retention rates. The company currently partners with more than 240 colleges and universities, including Southern New Hampshire University, the University of Missouri, the University of Hawaii System, Oklahoma State University, and the College of Charleston. Opt-in and engagement rates on the platform are well above industry averages, demonstrating strong student receptivity. EdSights positions itself as the first AI-powered “student voice” platform designed specifically for higher education. The new capital will be used to enhance the product and expand the team so the company can serve more institutions nationwide. The business continues to focus on making higher education more student-centered by amplifying the student voice at scale.

  • Ontic

    Participated · Series C · Aug 2025

    Ontic offers a Connected Intelligence Platform that unifies open-source intelligence (OSINT), external threat signals, and internal systems (HR, legal, IT, facilities) to give security teams a centralized system of record. The platform spans risk intelligence, incident management, investigations and case management, enabling customers to shift from siloed, reactive operations to proactive security programs. Ontic serves enterprise customers including Fortune 50 companies across technology, financial services and consumer goods, and supports U.S. public sector agencies. The company reports client impacts such as a 33% reduction in new staffing needs, halving investigation time at a major tech company, centralizing response across more than 400 locations for a national grocer, and over $4.5M in cost avoidance at a global enterprise over three years. Founded in 2017 and based in Austin, Texas, Ontic is investing to accelerate its AI capabilities and expand its international footprint. The company says its customers collectively generate nearly $30 billion in revenue and employ over 14 million people, underscoring demand for consolidated physical-security solutions. Ontic provides a SaaS-based protective intelligence platform that helps corporate security teams identify, investigate, assess, watch and manage physical security threats. The platform collects and connects threat indicators to give customers a comprehensive view of potential threats and surface critical knowledge so companies can assess and act to maintain business continuity and reduce financial impact. Ontic serves Fortune 500 and emerging enterprises and also offers strategic consulting, multidimensional services, education and thought leadership through its Center for Protective Intelligence and a Center of Excellence. The Center of Excellence offers program development and training in behavioral threat assessment, threat management and violence prevention for major corporations, educational institutions and government agencies. Led by co-founder and CEO Lukas Quanstrom, the company said it will use new funding to expand into new market segments and geographies, accelerate product development, establish partnerships and add staff. The Series B brought Ontic's total funding to nearly $58m. Ontic provides a protective intelligence platform that connects to hundreds of real-time and historical data points and delivers curated smart indicators to security teams for early threat detection. The software unifies critical data related to physical security threats and enables collaboration via connected workflows in a single platform. Ontic’s tools help security teams identify pre-incident indicators, assess risk and mitigate potential threats. The company serves Fortune 5000 companies and leading educational institutions. Led by CEO Lukas Quanstrom, Ontic plans to use new funding to accelerate expansion across enterprise businesses and family offices and to invest in product development and sales to enter new markets. The company raised $12M in a Series A to support those efforts. Ontic provides a protective intelligence software platform that aggregates disparate data sources and presents a workflow to surface “pre-incident indicators” for acts of violence, mental-health issues and behavior of concern. The platform delivers real-time, actionable insights so security and resource teams can discover, investigate and collaborate on threats to protect executives, workplaces and schools. Ontic works with Fortune 5000 companies and leading educational institutions. The company is based in Austin, TX and was co-founded by Lukas Quanstrom (CEO), Gagan Jain (CTO) and Tom Kopecky (Chief Strategy Officer). Ontic raised seed funding and plans to use proceeds to accelerate product development, expand customer acquisition, and pursue strategic hiring. The company specifically noted hiring Mat Thompson as VP of Sales and Marketing as part of its growth plans.

Team