Led · Series B · Apr 2023

VoltServer commercializes Fault Managed Power (FMP), a transmission technology that sends electricity in small, safety-checked packets embedded with data and sold under the brand Digital Electricity. The company manufactures FMP transmission products and supplies systems with extensive monitoring and control software that augment the hardware. VoltServer reports circuits installed in buildings including NFL stadiums, smart hotels, and indoor vertical farms. Led by CEO Steve Eaves and based in East Greenwich, RI, the company plans to use new funding to hire talent to accelerate product development. It intends to expand further into Communications, Intelligent Buildings, Indoor Agriculture, EV Charging, Data Centers, and other applications where rapid, lower-cost, data-enabled electricity distribution can benefit customers. The company raised new capital in 2023 to support those product and go-to-market efforts. VoltServer develops a packetized power-transmission system that overlays digital control and data onto electricity distribution, using a transmitter that breaks AC or DC into packets and a receiver that reassembles them. Its architecture incorporates digital signal processing and a semiconductor gateway similar to solar power converters to stop transmission when faults occur. The company combines hardware and software: customers buy transmitter/receiver boxes, third parties install them, and software applications track energy usage and manage outage responses. Roughly 700 stadiums, large offices and indoor grow facilities have deployed its technology; typical installations run from $30,000 to $1 million, and the largest installation is a lettuce farm in Florida. VoltServer is targeting intelligent building infrastructure, communications and indoor agriculture as core markets and says its technology can cut traditional power-transmission costs from about $36 per linear foot to less than $10. The company recently attracted a $7.4 million financing led by Sidewalk Labs and has raised $18 million to date from a group of energy-focused investors. VoltServer provides patented solutions that deliver electricity in a natively digital format by combining energy and data into energy packets transmitted from a VoltServer transmitter to a receiver. The transmitter verifies each packet and halts transmission if there is improper wiring, a short circuit, or a person touching the transmission lines. The company began shipping in early 2015 and currently powers 4G/LTE mobile services in many large sports stadiums, office towers, hotels, condominiums and medical buildings. VoltServer intends to use recent funding to support ongoing mobility deployments and trials worldwide and to expand its remote powering solutions into adjacent markets such as converged fiber optic communications (FTTx, POL), smart LED lighting, centralized battery-backed/critical power/UPS, data center and alternative energy applications. The company is led by founder and CEO Steve Eaves.

Participated · Series C · Jul 2021

Virsec provides the Virsec Security Platform (VSP), which stops sophisticated attacks at their first point of insurgence and prevents adversaries from gaining dwell time in software. The platform delivers in-depth visibility across entire workloads and detects and blocks known and unknown threats that can evade heuristic and endpoint solutions. VSP maps the expected performance of each application on a workload, protects the memory applications use to execute, and ensures application components are correct and unmodified before execution; deviations are treated as threats. Led by CEO Dave Furneaux, the company intends to use newly raised funds to expand operations and its business reach. The raise brought the company’s total funding to $137M. Virsec has developed a technology platform that protects critical applications from the inside, safeguarding processes in memory and pinpointing attacks in real time. Its patented Trusted Execution™ technology maps acceptable application execution and instantly detects deviations caused by attacks. The solution has been deployed and gone through extensive validation with early-adopter customers in critical infrastructure, defense, financial services, and healthcare. The company holds a portfolio of patents with more than 20 applications filed and 12 already granted. Virsec is led by CEO Atiq Raza. It plans to use the new funding to accelerate product innovation and global expansion.

Led · Series A · May 2017

Liqid develops the Liqid Matrix composable disaggregated infrastructure (CDI) software platform that enables cloud-like speed and flexibility for data center infrastructure. The platform lets users configure, deploy, and scale physical bare-metal servers in seconds and reallocate accelerators and storage resources via software as needs evolve. Liqid positions its technology as a solution to rigid traditional architectures, improving resource utilization and reducing power and cooling requirements. The company says the capital will be used to identify, create, and pursue evolving market opportunities for CDI solutions amid AI-driven changes across on-prem, cloud, and edge environments. In 2021 Liqid more than doubled its workforce, surpassed 100 customers, and reported 1034% revenue growth from 2017 to 2020. Its customers and partners include the US Department of Defense, Dell Technologies, NVIDIA, Broadcom, and Intel Corporation, and the company is based in Broomfield, Colorado. Liqid’s core product, Liqid Matrix™, is a composable infrastructure software platform that lets users configure, deploy, and scale physical bare‑metal servers in seconds and reallocate accelerators and storage via software. The platform targets AI, HPC, cloud, and edge workloads and emphasizes higher utilization, faster time‑to‑results, and sustainability benefits versus traditional static data center architectures. Liqid says its solutions can deliver 2–3x improvements in utilization and materially reduce energy, water use, and CO2 emissions. In 2021 the company more than doubled its workforce, surpassed 100 customers, and reported 1,034% revenue growth from 2017 to 2020. Customers and partners include the US Department of Defense, Dell Technologies, NVIDIA, Broadcom, and Intel. Liqid intends to use new capital to expand internationally, grow its salesforce and support functions, increase OEM and channel marketing, and accelerate its software development roadmap to maintain market leadership. Liqid offers a software-defined composable infrastructure platform and Command Center orchestration that lets users build dynamic bare-metal servers and reallocate NVMe, GPU, FPGA, Intel Optane, CPU, and networking resources on demand. The platform composes across major fabric types including PCIe Gen3, PCIe Gen4, Ethernet, and InfiniBand. Liqid maintains OEM and technology partnerships with vendors such as Dell Technologies, Inspur, NVIDIA, Phison, Toshiba, Marvell, Intel, Jabil, and KingstonDigital. The company says it recently doubled quarter-over-quarter revenue, achieved record profit, and recorded a record number of customers and deployments. Liqid will use new funding to accelerate growth by increasing budgets for operations, sales, marketing, engineering, and other business-critical functions and to address an expanding number of industry verticals. Liqid builds an on-demand composable infrastructure (CI) platform that pools and composes compute, networking, storage, and graphics processing over a PCIe-based fabric to enable bare-metal server reconfiguration. Its flagship Liqid CI Platform and Liqid Grid fabric switch allow IT administrators to orchestrate and instantly reallocate physical datacenter resources. The company planned general availability of its platform in 2017 and intends to use new funding to accelerate product development, hire engineering talent, and expand sales and marketing. Liqid frames its technology as a solution to the motherboard/chassis limitations that lock resource allocation at purchase. It has OEM partnerships with Kingston Technology and Inspur and cites Phison Electronics as a strategic partner. Liqid is headquartered in Lafayette, Colo. Liqid is operating in stealth to deliver an innovative solution for real-time resource management in data centers, aiming to help organizations keep pace with rapidly changing IT demands. The company positions its product to evolve current data center architectures and improve how resources are allocated and managed. Liqid says its financing will accelerate product development and time to market while enabling it to build out its team. Leadership frames the technology as a potential industry transformer for handling growing volumes of data. The announcement highlights the company’s focus on research and development as the near-term priority. No operating metrics or revenues were disclosed in the articles.

Led · Equity · Feb 2012

Concordia Coffee Systems manufactures fully automatic, integrated self-serve commercial espresso systems that combine milk steaming, coffee grinding and brewing in one step. The company holds patents on its fully automatic espresso delivery process and integrates fresh milk, beans and sauces into a single system. Machines are manufactured at its Bellevue, WA headquarters and shipped worldwide, serving thousands of customers pouring millions of drinks every day. Key partners and customers named in the articles include Starbucks, Seattle's Best, Caribou Coffee, Hilton, Tesco, Costco, Google, United Airlines and several universities and foodservice operators. Management says the new capital will be used to ramp up international business and to fund the global market rollout of a new line of coffee systems. Concordia has raised new financing and maintains relationships with regional investors and strategic partners named in the articles.