Participated · Equity · Dec 2018

Procore builds subscription-based construction management software used to plan, coordinate, and manage construction projects. The company sells products on a per-subscription basis with pricing tied to product mix and annual construction volume run on its platform. Procore filed an S-1 and had been preparing for an IPO but put those plans on hold amid the COVID-19 downturn while raising additional private funding; it could still go public if markets stabilize. Financially, Procore reported 2019 revenue of $289.2 million (up 55% year-over-year) and a 2019 net loss of $83.1 million, with an accumulated deficit of $300.8 million at the end of the year. Operating metrics include ARR growth from under $10 million in 2014 to over $250 million by August 2019, more than 1,800 employees as of August 2019, roughly 8,506 customers at the end of 2019, and over 1.3 million users. Procore develops software to manage construction projects, offering tools and services for planning and construction management. The company said it will use new funding to ramp up partner expansion, continue investing in new products and services, and hire additional talent. Procore reported having more than 1,300 employees across 12 offices and serving over 5,000 customers. The article frames Procore within a competitive construction tech landscape that has seen large investments and acquisitions, such as SoftBank’s stake in Katerra and Autodesk’s acquisition of PlanGrid. Procore is based in Carpinteria, California. The company’s recent financing valued it at $3 billion. Procore provides cloud-based project management software that gives construction companies real-time access to project information from any device. Led by CEO Tooey Courtemanche and based in Carpinteria, California, the company sells a core project management suite. Procore plans to use new funding to accelerate R&D, expand its product offering beyond its core suite, and grow internationally by opening its first offices outside the United States. In 2016 the company added more than 500,000 new users, bringing its user base to 1.5 million, and expects to end 2016 with over 2,500 clients across 92 countries. The company has close to 700 employees across seven U.S. offices. It raised $50M in venture capital to support these initiatives. Procore offers web and mobile construction management software that centralizes documents, contracts, RFIs, submittals, schedules, and drawings to streamline communication and reduce project risk. The platform enables construction teams to collaborate from any Internet-connected device and provides real-time insights to improve decision-making. Procore says thousands of project managers use its tools across industrial, commercial, residential, and institutional projects, and that it has hundreds of thousands of registered users. In the past year the company doubled its user base and employee headcount while increasing mobile app adoption. The company plans to use the new funding to accelerate its exponential growth, execute on its product roadmap, and solidify its position as the de facto cloud platform for construction and facility owners. Procore Technologies provides cloud-based construction management software that lets contractors, construction managers, architects, engineers and facility owners collaborate on project documents, contracts, RFIs, submittals, schedules and drawings from any Internet-connected device. The company offers mobile apps (Procore and CurrentSet by Procore) for iOS and Android to enable field access and data editing. Founded in 2003 and based in Carpinteria, Calif., Procore has grown to over 120 employees and has been featured on the Inc. 500/5000 list. The platform counts hundreds of thousands of registered users and thousands of project managers actively using it worldwide. Procore says it will use new funding to accelerate growth and expand its suite of mobile and web-based tools. Bessemer Venture Partners is joining the company’s board through partner Brian Feinstein as part of the investment.

Participated · Series A · Aug 2018

Naked Labs ships a mirror-based 3D body scanner that builds a model of users and highlights where fitness progress is occurring. The company began taking pre-orders last year for the $1,395 Naked 3D Fitness Tracker and has started shipping those orders, with hopes to have the device generally available next quarter. The device consists of two parts: a scale that houses sensors and a computer, and a weight scale that spins the user so the stationary mirror can capture a body scan in about 15 seconds. The system reports body fat percent, lean mass and fat mass, circumferences, side-by-side comparisons with earlier scans, and historical graphs. Hardware includes an Intel x86 processor, 4GB DDR4 RAM and a 64GB SSD so depth data can be stitched on-device and beamed to the phone rather than uploaded to the cloud. Naked Labs uses Intel RealSense depth sensors (no RGB cameras) to produce a depth-based avatar and states that it will use the funding to scale manufacturing, hire staff, and develop new products. Naked Labs makes the Naked 3D Fitness Tracker, an internet-connected full-length mirror and a wirelessly rechargeable, rotating scale that together produce grayscale 3D body scans and metrics via a mobile app. The system uses Intel RealSense 3D depth sensors and Intel quad-core processors to derive accurate scans in about 20 seconds and can store data for up to six users. The mobile app displays realistic 3D illustrations and tracks detailed metrics over time, including symmetry and circumference of biceps, calves, thighs, hips and waist, body-fat percentage, hip-to-waist ratio, and weight, and helps users set goals with expert-referenced ranges. Naked began taking preorders at a $499 price point via naked.fit, with shipping slated for March 2017. The company was co-founded in 2015 by CEO Farhad Farahbakhshian and COO Ed Sclater and is based in San Francisco. Naked has raised seed funding from New Enterprise Associates, Three Leaf Ventures, and Monstro Ventures, though the company has not disclosed the amount.

Participated · Series B · Mar 2018

Carsome operates an integrated car e-commerce platform providing end-to-end services spanning the vehicle ownership journey through subsidiary brands such as iCar Asia, WapCar, CarTimes, Carsome Academy, and Carsome Capital. It operates across Malaysia, Indonesia, Thailand, and Singapore, with Malaysia and Singapore currently contributing most to profitability. In FY2025 the company posted its second consecutive year of positive EBITDA, more than doubled earnings to around $23 million, and achieved a 16% increase in gross profit as it sharpened cost discipline and monetisation. Carsome plans to use recent funding to scale operations regionally while maintaining a focus on sustainable, profitable growth. The company is prioritising initiatives in supply chain development and technology collaboration, including integrating data and artificial intelligence into its operations. Management describes the fundraising as reinforcing strategic alignment with investors and supporting cross-border collaboration between Southeast Asia and Greater China.

Led · Series D · Jan 2018

Anomali develops threat-detection and mitigation products, including ThreatStream, which aggregates free and commercial sources to track known threats, and Anomali, a 2016 product that scans networks to determine in real time if they have been breached and helps mitigate and build defenses. The platform displays a green check when a network is clean and provides guidance when compromises are detected. The company plans to use new funding to expand internationally, specifically targeting Europe, the Middle East and the Asia Pacific. Anomali launched in 2013 and now has around 200 employees and about 300 large-enterprise subscribing customers, including a large percentage of the Fortune 100. Named customers include Alaska Airlines, the Bank of England and Citigroup. CEO Hugh Njemanze said the Series D closed last week. Anomali is a Redwood City, CA-based provider of the ThreatStream threat intelligence and Anomali Enterprise platforms. Its products aggregate and curate massive amounts of threat intelligence data to reduce false-positives, facilitate threat hunting, and provide trusted circles for secure communication between organizations. The company also provides retrospective analysis by continuously reading a year’s worth of an organization’s log data and comparing it to its library of indicators of compromise. Led by CEO Hugh Njemanze, Anomali intends to use proceeds from its recent strategic investment to continue advancing product development. The strategic investment came from In-Q-Tel; the amount was not disclosed. Anomali is backed by General Catalyst Partners, GV, Institutional Venture Partners, Paladin Capital Group and individual investors. Anomali provides a platform for earlier detection and identification of adversaries by correlating tens of millions of threat indicators against real-time network activity logs and up to a year or more of forensic log data. Led by CEO Hugh Njemanze, the company focuses on accelerating threat detection and attribution within customer networks. The company intends to use the funds for international expansion, product development and to bolster its sales and marketing efforts. Anomali was launched in 2013 and, including this round, has raised more than $56 million to date. The company is based in Redwood City, California. ThreatStream provides threat-intelligence and analytics that combine machine learning with human-sourced community data to reduce false positives in security event streams. The company positions its product as a complement to traditional SIM tools by prioritizing real threats so analysts spend less time on noise. ThreatStream emphasizes a symbiotic approach of technology and community sharing—what the CEO calls "the safety of the herd." It currently serves 30 large enterprise customers. The company announced a $22M Series B that brings total funding to $26.3M, giving it additional resources to expand its efforts. Steve Herrod of General Catalyst will join the board as part of the deal. ThreatStream, founded in 2013, builds Optic, a crowd-sourced cybersecurity intelligence platform that aggregates millions of threat indicators from across the internet. Optic integrates threat intelligence directly into an organization’s existing security infrastructure and uses data science to identify potential threats in real time. The platform is intended to help security analysts reduce noise and focus on the more sophisticated, targeted 20% of attacks. The company targets enterprise and government customers and says the new funding will be used to add a new layer of cybersecurity protections. Before this round the company had raised $300,000 in seed funding. ThreatStream positions its product as a realtime layer to augment traditional perimeter defenses.

Participated · Series A · Dec 2017

DigitalGenius builds machine-learning and natural-language-processing software that analyzes historical text and email interactions to create a lexicon of common customer-service interactions and generate suggested responses. The product is designed to work alongside human agents, autonomously handling interactions up to a point or offering suggested replies for CSRs to edit before sending. The company has expanded its customer base rapidly, growing from two customers last year to 30 this year, and counts KLM, Unilever, Eurostar and Soylent among customers; it also landed its first government customer this year. DigitalGenius has offices in the US and London and plans to use new capital to continue international expansion. Management has hired a chief revenue officer and intends to grow headcount from about 60 by roughly 30–50% over the coming year, depending on continued growth. The company cited market timing as a factor in adoption as AI and ML became more commonplace since its 2015 Disrupt appearance. DigitalGenius sells a Human+AI Customer Service Platform that links to popular customer service systems such as Salesforce, Zendesk and Oracle to recommend or automate responses. The platform analyzes service logs from chats, social interactions and emails to learn common transactions and surface the most likely responses, using a configurable "confidence threshold" to decide when to automate versus route to a human CSR. After about a year of product iteration the company says it has reduced system training from several months to several weeks, though deployments typically still require assistance from a DigitalGenius engineer or an external systems integrator. The company pivoted from an earlier SMS-focused automated response product to a customer-service–focused solution last year. Management can monitor interactions via an administrative dashboard to maintain oversight of automated and human responses. Financially, DigitalGenius announced a new $4.1M funding round and says total financing to date is over $7M; the company has offices in New York and London and employs approximately 20 people, mostly engineers. DigitalGenius offers an automated customer-service platform using AI and natural language processing to carry on human-like SMS conversations and move users through a sales funnel. The product has attracted early customers including BMW and Unilever. Before this round the company had bootstrapped to a 20-person team and recorded customers and revenue, and it previously took a $250,000 convertible note. The company has offices in London and New York City and plans to add about 10 employees in the next year, with roughly 80% of hires focused on engineering. Management intends to use the new funding to hire talent and further productize the offering, and is seeking investor guidance on scaling and hiring.