Led · Equity · Jun 2018

Quantum Xchange develops the Phio family of solutions, centered on Phio Trusted Xchange (Phio TX), a key distribution system that makes existing encryption keys quantum safe and supports post-quantum cryptography (PQC), Quantum Key Distribution (QKD), and Quantum Random Number Generation (QRNG). Phio TX allows organizations to enhance existing encryption, select protection levels based on risk tolerance, and scale to QKD across distances and multiple transmission points. The company provides solutions to commercial enterprises and government agencies for protecting data in motion. Quantum Xchange completed an initial close on $13.5M of Series A capital at a $59M post-money valuation and had earlier secured $10M in initial funding. The Series A will be used to scale operations and continue innovation on the Phio product family. The company also announced an expanded leadership team with a new CEO, CFO, and CTO to support growth and product development. Quantum Xchange operates the first commercial quantum, fiber-optic network in the United States and offers Quantum Key Distribution (QKD) as a service for quantum-safe data protection. Its Trusted Node technology, developed by Battelle and licensed to Quantum Xchange, extends QKD transmission distances indefinitely using 100-mile multiples. The company has an exclusive U.S. licensing agreement to deploy QKD devices from ID Quantique. Quantum Xchange is initially deploying dark-fiber networks along the Northeast Corridor, connecting financial markets on Wall Street with back-office operations in New Jersey, with plans to expand nationwide. Target customers include banks, critical infrastructure, telecommunications, healthcare, and government agencies; the service is offered as a monthly subscription with one-, three-, and five-year pricing packages. The company is based in Bethesda, Md., and aims to provide a future-proof encryption layer resilient to the arrival of quantum computers.

Participated · Equity · Jan 2017

Bankin’ offers an application that connects with users' banks and uses a hybrid model of intelligent algorithms plus human coaches to make money management simple and transparent. Its algorithms detect customized savings opportunities adapted to each user's situation. Users can also chat with real human coaches who help optimize finances rather than sell products or banking services. The app is currently used by almost 3m people across France, England, Spain and Germany. Led by CEO Joan Burkovic, the company plans to accelerate development and expand teams in tech, marketing and coaching. Bankin’ intends to hire more than 20 people by year-end to reach roughly 70 employees. Bankin' provides a money-management app with security features (passcode, Touch ID), detailed overviews with graphs and custom analysis, and month-by-month savings monitoring. The product also offers transaction search with unlimited history, push notifications or emails, and daily and weekly reports across multiple accounts. The app is used by more than 1.5 million people in France, England, Spain and Germany. Bankin' was created in 2011 and is led by Joan Burkovic and Robin Dauzon. The company has raised €8.4m to date. It will use the newly raised funds to continue developing the platform and to expand operations.

Participated · Series D · Jan 2015

Pluribus Networks delivers data center network solutions built around disaggregation and controllerless SDN automation, including the Netvisor ONE operating system and the Adaptive Cloud Fabric software. Its software ships on the company’s Freedom Series white-box switches and on third-party platforms such as Dell EMC PowerSwitch and Edgecore Open Cloud switches. Pluribus is deployed by more than 350 customers, including over 100 tier-one mobile network operators, in mission-critical networks worldwide. Led by CEO Kumar Srikantan and based in Santa Clara, CA, the company raised $20M in the reported funding round. Prior to this financing Pluribus had raised $125M in funding. The company intends to use the new capital to accelerate R&D for multiple new product initiatives and to expand sales and marketing to deepen penetration in the distributed cloud market and move into adjacent sectors. Pluribus Networks delivers software-defined networking via its Netvisor distributed network hypervisor operating system, converging compute, network, storage and virtualization with an open, programmable approach. The company positions Netvisor as a platform to simplify data center operations and protect existing network investments. Pluribus says its architecture addresses Global 2000 needs for hardware independence, scale, automated configuration and operational simplicity. Customers’ rapidly growing demand is cited as a driver for expansion of sales, marketing, business development and engineering. The company reported a $50 million Series D that increased total funding to $95 million, and says it is the best-funded private SDN company. Pluribus Networks is a Palo Alto, CA-based developer of hardware-accelerated network virtualization solutions for private and public cloud datacenters. Founded in 2010 by Sunay Tripathy (CTO), Robert Drost (CEO) and C.K. Ken Yang (VP of Product Engineering), the company provides the Pluribus Netvisor, a programmable, distributed network operating system that runs on its optimized Server-Switch hardware. Netvisor provides a platform for fabric-based computing that enables applications to move into the network and supports both physical and virtual network infrastructure. The Netvisor solution is currently available to select customers on the Pluribus F64 Series platform. The company closed a $23M Series C in December 2012 and intends to use the capital to expand adoption of its systems. Pluribus previously closed a $17.5M Series B in April 2011.