Participated · Series D · Aug 2015

Cenx provides Lifecycle Service Orchestration solutions that automate fulfillment and assurance of advanced data services across software-defined and virtualized networks. Its platform bridges physical and virtualized network functions and supports multi-vendor SDN and NFV environments. The company’s solutions use real-time big data analytics and web-scale computing technologies to dynamically fulfill, visualize, navigate and assure data services. Cenx is led by President and CEO Ed Ogonek. The company raised $12.5M in Series D equity and plans to use the proceeds to accelerate global market and portfolio expansion. The financing underscores Cenx’s focus on scaling its orchestration and assurance offerings internationally. CENX provides industry-first Carrier Ethernet Interconnect Systems & Services that enable wireless and wireline operators to build, manage and optimize Ethernet/IP networks cost-effectively. Its solutions target 4G mobile backhaul and enterprise Ethernet access, addressing operational challenges associated with buying off-net Ethernet access services and migration from TDM. CENX emphasizes automation and deep analytics to accelerate design, ordering, provisioning, integration, test and turn-up, and to assess Ethernet SLA compliance for improved end-user experience. The company says its systems can support broader vendor coverage, multiple classes of service (Multi-CoS), and could deliver 25% or more annual opex savings for Ethernet mobile backhaul and enterprise access. CENX has participated in MEF work and standards development over the past ten years. Headquartered in Chicago, the company will use new funds to expand system, engineering and support resources to serve a growing list of tier-1 wireless and wireline operator customers.

Participated · Equity · Feb 2015

Pivot3 builds storage-centric hyper-converged infrastructure (HCI) solutions and predictable flash storage. Its core products combine HCI with patented Quality of Service and virtualization management to prioritize workloads and ensure fault tolerance. Pivot3 emphasizes scale-out performance, reduced complexity and lower total cost of ownership versus traditional HCI. The company reports more than 2,000 customers deploying over 16,000 hyper-converged infrastructures globally across industries including video surveillance, healthcare, government, transportation, entertainment, education, gaming and retail. In February 2016 Pivot3 acquired NexGen Storage and plans to integrate NexGen’s PCIe flash arrays, QoS and dynamic provisioning while extending its patented scalar erasure coding to those solutions. Pivot3 will use new funding to accelerate product development, expand its HCI and flash storage offerings, and advance its go-to-market plan. Pivot3 is a pioneer in hyper-converged infrastructure, delivering software-defined HCI appliances since its first fully hyper-converged appliance in 2008. The company’s technology is based on patented Scalar Erasure Coding and Global Hyper-Convergence to deliver high storage efficiency and fault tolerance. Pivot3 serves more than 1,600 customers with over 13,000 deployed HCI appliances across video surveillance, VDI, disaster recovery and security-focused markets. The company plans to accelerate growth by extending leadership in dense VDI blade appliances, expanding backup and disaster-recovery offerings, and increasing market share for 24x7x365 video surveillance solutions. Pivot3 is investing in transforming security operations centers with virtualization and its Virtual Security Server, and in enabling advanced analytics on massive unstructured video datasets. The company will use new financing to invest in sales and marketing, recruit global talent, and expand its channel partner strategy. Pivot3 provides purpose-built, hyper-converged infrastructure appliances serving video surveillance, VDI and data center customers. Its vSTAC suite recently received a comprehensive update with the release of vSTAC OS 6.5. The company serves public sector, healthcare, transportation, gaming, education and retail verticals and reports over 1,000 customers globally. Founded in 2003 and led by CEO Ron Nash, Pivot3 is based in Austin, Texas. The company intends to use the funds from the recent round for additional product development and operations growth. Pivot3 also added Mike Dansby as vice president and chief financial officer. Pivot3 develops purpose-built virtualized storage and converged compute appliances (vSTAC) targeting video surveillance and virtual desktop infrastructures. The company sells appliances that run on Dell enterprise hardware and emphasizes simplicity, scalability and cost savings. Pivot3 has over 600 customers across public sector, transportation, gaming, education, healthcare and retail verticals. The firm reported a record second quarter, including a $2.7M surveillance storage deal in Central America, and quarter‑on‑quarter doubling of growth in the virtual desktop market. Pivot3 recently launched Professional Services and notes growing services revenues. The company aims to use new funding to support growth and pursue sustained profitability in 2014. Pivot3 develops RAID-based storage hardware appliances that provide integrated server virtualization for enterprise data, with a strong focus on storing video surveillance data. The company reports more than 140 customers, including the Port of Seattle, the Mall of America, and the City of Trenton. Pivot3 is entering a commercial partnership with Samsung Techwin to help store video surveillance data for that affiliate. The new funding will be used to expand product development, sales, and marketing efforts. Pivot3 has raised nearly $100 million in total funding to date. The company targets large-scale video surveillance storage deployments with its appliance-based approach.

Participated · Series E · Sep 2011

GrubHub Seamless operates online and mobile ordering platforms that allow diners and over 4,000 corporate businesses to order directly from roughly 25,000 takeout restaurants across more than 500 U.S. cities and London. The company is led by CEO Matt Maloney and owns a portfolio of brands including GrubHub, Seamless, MenuPages and Allmenus. It maintains offices in Chicago, New York City, Salt Lake City and London. Following the close of its merger transaction, T. Rowe Price shareholders acquired an ownership stake by purchasing shares from early investors. Financial terms and the amount of that secondary transaction were not disclosed in the article. GrubHub is a Chicago-based online and mobile food-ordering service that lets diners order delivery or takeout from local restaurants. The platform lists menus and ordering for more than 13,000 restaurants across major U.S. cities, with about 5,000 establishments paying for white-label ordering and delivery services. Diners use GrubHub for free while restaurants pay commissions on each order; non-partner restaurants can still list phone numbers and menus for free. The company acquired Dotmenu (parent of Campusfood and Allmenus), expanding to roughly 250,000 restaurant menus across over 50 major cities and college towns. GrubHub reported rapid mobile growth—a 300% increase since last fall—and forecasted mobile orders to represent 20% of sales by the end of 2011. The company projected over $30M in revenue for the year, up from $8.5M in 2010, and expected the combined companies to send more than $225M in order revenues to restaurants in 2011. Founder Matt Maloney has stated that going public is a realistic opportunity within the next two years. GrubHub operates an online and mobile food-ordering platform that lets users view menus, reviews and comments and order delivery or takeout from local restaurants. The service lists more than 13,000 restaurants across U.S. cities including New York, Chicago, San Francisco, Boston, Los Angeles and others, and 5,000 establishments pay GrubHub to manage and market a white-label online order and delivery service. Mobile apps for iPhone and Android add GPS-based discovery; mobile orders rose 300% since last fall and are projected to make up 20% of total food sales by the end of 2011. GrubHub sent $85 million in orders to restaurants in 2010 and projects to send $200 million by year-end; the company reported $8.5 million in revenue last year and expects to more than double revenue in 2011. The company has about 100 employees and is pursuing product development (including a pickup option) and acquisitions as growth strategies. CEO and co-founder Matt Maloney said he expects to list 80,000 restaurants in the next three months and be in over 26 cities by the end of the year. GrubHub is a web and mobile service that organizes restaurant data for consumers and simplifies online ordering for delivery and takeout. Its website shows local restaurants that deliver and allows diners to order online, by phone, or through iPhone and Android apps. The service is available in Chicago, New York, Los Angeles, San Francisco, Boston, Philadelphia, Washington D.C., San Diego, Oakland, Seattle, Portland, Denver and Boulder. GrubHub plans to double its presence in 2011. It closed an $11M Series C led by Benchmark Capital, bringing total capital raised to $14.1M. The company said it will use the new capital to further develop its online and mobile solutions and expand marketing and sales efforts. Founded in 2004 by Matt Maloney and Mike Evans and based in Chicago, GrubHub previously raised a $2M Series B in March 2009 and a Series A in 2007. GrubHub is a Chicago-based website that helps users find and order from restaurants that deliver. Founded in 2004, it has slowly expanded from its home city to include New York, San Francisco, Boston, and Philadelphia. The company claims to partner with more than half the restaurants offering delivery in its coverage areas and says it facilitated $20 million worth of deliveries last year. The service offers an iPhone application and was noted alongside a similar app from CityMint. Financially, GrubHub raised $2 million in a second round of funding and previously raised $1.1 million in its first round. Its product emphasis is on completeness of listings and user convenience within its coverage areas.

Led · Series C · Sep 2009

Serious Energy is a Sunnyvale, CA-based company that provides high-tech products and services for building energy efficiency. Led by Chairman & CEO Kevin Surace, the company offers a suite including the cloud-based SeriousEnergy Manager enterprise software that monitors, optimizes, and controls building energy use with advanced algorithms. It recently launched iWindow, a retrofit glass system designed to deliver increased energy efficiency and comfort without replacing existing glass or altering a building's exterior appearance. The company also markets QuietRock soundproofing drywall solutions to help increase density and improve productivity. Its products have been installed in over 70,000 projects worldwide, including the Empire State Building. Serious Energy operates six manufacturing plants and a network of distributors throughout the U.S. and Canada. Serious Materials is a Sunnyvale, Ca.-based company that develops energy-saving building materials. The company is focused on completing development of next-generation energy-saving building products. Proceeds from the recent financing will be used to accelerate the company’s rapid growth and product development. Serious Materials closed a $60M Series C that brought its total capital raised to more than $120M. Participants in the round included lead Mesirow Financial, new investors Enertech Capital, Cheyenne and Saints Capital, and previous backers New Enterprise Associates, Foundation Capital, Rustic Canyon Partners, Navitas Capital and Staenberg. Concurrent with the Series C, Tom Galuhn of Mesirow Financial joined Serious Materials’ board of directors.