The Venture Codex

Participated · Series C · Jun 2020

Bigfoot Biomedical is a Milpitas, California–based medical device company that develops therapy and telemedicine solutions for people with insulin-requiring Type 1 and Type 2 diabetes. Its lead product under development, the Bigfoot Unity System, is part of the Bigfoot Unity Diabetes Management Program and provides real-time dose-decision support for users on Multiple Daily Injection (MDI) therapy. Unity uses proprietary smart pen caps for basal and mealtime insulin dosing recommendations and integrates Abbott’s FreeStyle Libre glucose-sensing platform. The company plans to package Unity as a monthly subscription that includes pen caps, Abbott sensing technology, needles, a backup glucose meter, test strips, alcohol swabs and a mobile app, while insulin pens are obtained separately. Bigfoot also develops the Bigfoot Autonomy pump-based closed-loop automated insulin delivery system, which has received FDA Breakthrough Device designation and will require a pivotal trial and regulatory approvals. The company is led by CEO Jeffrey Brewer. Bigfoot Biomedical develops AI-driven diabetes solutions aimed at optimizing insulin dosing and delivery for people with insulin-requiring diabetes. Its product programs include Bigfoot Loop, an infusion pump–based closed-loop automated insulin delivery system, and Bigfoot Inject, a connected insulin pen decision‑support system for people on injection therapy. The company has an agreement with Abbott to integrate Abbott's FreeStyle Libre glucose‑sensing technology into Bigfoot's ecosystem. Bigfoot plans to use recent financing to support ongoing product development, clinical trials, and commercialization of its Class III investigational systems. The company reported completing a $55 million Series B and has raised over $90 million in equity to date. Bigfoot is based in Milpitas, California.

Participated · Series A · Aug 2016

Virtru builds a Data Security Platform centered on the open Trusted Data Format (TDF) to ensure protection and governance travel with data rather than relying on perimeter defenses. TDF was invented by co-founder Will Ackerly during his time at the NSA and has been adopted as the data protection standard for national defense and intelligence missions across the U.S. and allied partners. The platform implements "microsecurity," offering granular, persistent controls that remain with data regardless of location, aimed at protecting both internal assets and externally shared data. Virtru is trusted by over 6,000 public and private organizations, including JPMorganChase, Equifax, Capital One, Salesforce, and the U.S. Department of Defense. The company recently raised $50 million and doubled its valuation to $500 million, providing capital to scale its offerings. Planned uses of the funding include accelerating global TDF adoption, expanding protections for AI and analytics workflows, and scaling mission-critical solutions for defense and critical infrastructure partners. Virtru provides a data protection technology platform that enables users to maintain control over data wherever it is stored and shared. The company supplies encryption technology for data shared via email, collaboration tools, cloud environments, and enterprise SaaS applications. Virtru is the creator of TDF (Trusted Data Format), an open industry standard for persistent data protection, and is used by more than 7,000 global customers. Led by CEO John Ackerly, the company intends to accelerate delivery of new products across its data protection portfolio. Virtru plans to scale hiring across sales and marketing, research and development, and customer success using proceeds from its recent financing. The company is based in Washington, DC. Virtru is a Washington, DC-based provider of end-to-end data protection and data privacy solutions. The company serves more than 8,000 organizations and helps enterprises and government agencies secure and share sensitive data while maintaining control over access to regulated content, intellectual property, and personal information governed by GDPR. Led by John Ackerly, Virtru's patented Secure User-First Technology allows users anywhere, on any device, to work without requiring a separate log-in, user interface, or application. The company intends to use the funds to expand email and file data protection solutions, scale operations, and expand internationally. It also aims to establish the Trusted Data Format as the world’s common open standard to protect data. Virtru provides end-to-end email and file encryption via an Encryption-as-a-Service architecture built on the open-source Trusted Data Format (TDF). Its product suite includes browser extensions, standalone mobile apps, encrypted search, hardware-based keys, and SDKs that let developers integrate Virtru into other applications. Customers manage their own encryption keys and can revoke access to content even after it’s been shared. The company offers a free tier for personal use, a Pro tier at $5/month, and enterprise pricing, and today counts over 4,000 customers across media, entertainment, government, healthcare, financial services, and manufacturing. With the new funding it plans to expand to additional cloud platforms such as Microsoft Office 365 and further develop its SDKs and APIs. Virtru offers a Chrome and Firefox extension that implements true end-to-end encryption for cloud email, with features like message lifetimes and forward-restriction. Recipients can read and reply within their mail client if they have the extension or via a secure web page; the service uses 256-bit encryption. The company launched its core email product in January and reports growth in the “tens of thousands” of users. Virtru was founded by brothers John and Will Ackerly — Will is an ex-NSA engineer and John previously advised the White House on technology. The company employs 11 full-time engineers and works with roughly 20 additional contributors on product and cryptography, many of whom remain at the NSA. Virtru plans to keep the core product free for individuals, charge small businesses and enterprises for wider usage, potentially sell value-added services, and will use new funding to continue building out the service; it also commits to quarterly transparency reports and open-sourcing code to build trust.

Led · Equity · Dec 2012

Dafiti is an online fashion e-commerce group operating in Brazil, Argentina, Chile, Colombia and Mexico. Led by co-founder Philipp Povel, the company sells fashion goods through its regional online platforms. It employs more than 1,500 people in Brazil and supports additional jobs in logistics, information technology and local supply chains. The company intends to use the new funds for growth and expansion across its markets. Financially, Dafiti received a €15M investment from the International Finance Corporation and has historically raised capital from institutional backers. Since 2011 the company has raised $275M from investors including Investment AB Kinnevik, JP Morgan, Quadrant Capital Advisors and Teachers’ (OTPP). Dafiti is a Rocket Internet-backed fashion commerce site that launched in Brazil in 2011 and now operates across five Latin American markets (Brazil, Argentina, Chile, Colombia and Mexico). The company offers roughly 125,000 products from about 2,000 brands and reports over 25 million monthly unique visitors across its five sites. Dafiti does not disclose revenue or profitability figures. The business is focused on strengthening customer service and product assortment rather than pursuing immediate international expansion. Management frames the opportunity around a growing middle class and rising online and mobile access in the region, aiming to change how people in Latin America buy fashion, lifestyle and sports products. Dafiti operates ecommerce sites across Brazil, Argentina, Chile, Colombia and Mexico, selling apparel, shoes, accessories, beauty and home decor. The company offers more than 80,000 products from roughly 700 Brazilian and international brands. It employs over 1,200 people and runs localized domains (dafiti.com.br, dafiti.com.ar, dafiti.com.cl, dafiti.com.co, dafiti.com.mx). Dafiti was founded in January 2011 by Malte Horeyseck, Malte Huffmann, Thibaud Lecuyer and Philipp Povel and was initially funded with $50M from Rocket Internet. The company says the new capital will be used to bolster logistical operations and expand its portfolio of brands and products across the five countries it serves. The article reports the latest raise brings total capital raised to $180M since launch. Dafiti operates an online marketplace selling clothing, shoes, accessories, cosmetics and home wares, offering customer perks like free shipping and 30-day returns and an option for customers to suggest items. Built with backing from Rocket Internet, the site has grown rapidly since its 2011 launch, expanding from a 10-person team to about 1,000 employees within a year. The platform lists over 60,000 products and attracts roughly 30 million website visits per month. Rocket Internet’s involvement has driven aggressive growth and market positioning as Brazil’s largest online fashion retailer. The company says it will use new capital to expand its presence across Latin America, naming Mexico, Argentina, Chile and Colombia as target markets. The article does not report revenue figures or prior fundraising amounts beyond the new investment.