Participated · Equity · Oct 2013

MongoDB develops next-generation open-source database technology. The company has recently been sharpening its focus on financials and hired Carlos Delatorre as Chief Revenue Officer. According to a regulatory filing, MongoDB has closed $79.99 million so far in an equity offering with a total size of $100 million. The first sale in the offering was made on December 10, 2014, and the company confirmed the roughly $80 million raise. MongoDB previously raised $150 million in an October 2013 Series E that reportedly valued the company at $1.2 billion. The funding is positioned to help MongoDB compete against established database giants such as Oracle. MongoDB offers a document-based NoSQL database that stores data in JSON-compatible structures and is widely used by developers for mobile and web apps. The project is distributed and runs on commodity servers; it has amassed more than 5 million downloads and is a high-demand skill on job sites. The company faces criticism around scaling and gaps in orchestration tools, which it is addressing through a new managed services offering to operate the database at scale. MongoDB has forged partnerships such as IBM naming it its NoSQL database of choice and counts customers including Craigslist, MetLife and Salesforce. The company is headquartered in Palo Alto and New York, with regional headquarters in Dublin and Singapore and additional offices in Atlanta, Barcelona, London, Sydney and Washington D.C. It employs more than 320 people worldwide. 10gen sponsors MongoDB, a popular open-source NoSQL database aimed at handling unstructured and large-scale data. The company is positioning MongoDB as a prominent NoSQL option for cloud infrastructures and enterprise deployments. 10gen has explored PaaS ambitions historically and is partnering with platform and server vendors to optimize deployments. The Series E investment announced will be used for product development and worldwide community development. 10gen has reported roughly 3 million downloads, most on Intel x86 servers, indicating growing adoption. The company is collaborating with Intel on hardware optimization (including SSD and parallel processing considerations) and with Red Hat on integration with OpenShift, JBoss and Red Hat Enterprise Linux. 10gen is the sponsor company behind the open-source NoSQL database MongoDB. The company announced an undisclosed investment from In-Q-Tel, the nonprofit venture firm that invests in technologies for the U.S. intelligence community. Prior to the In-Q-Tel investment the company had raised $73.4 million total and was last seen raising a $42 million round led by New Enterprise Associates. The size of the In-Q-Tel investment was undisclosed, though typical In-Q-Tel investments are rumored at $1–3 million. In-Q-Tel provides portfolio companies with "problem sets" from intelligence agencies and has invested in other big-data related companies such as Cloudera and Platfora. The article notes In-Q-Tel's notable exit of Keyhole, which sold to Google and became Google Earth. 10gen develops MongoDB, an open-source NoSQL database available under the GNU Affero General Public License. The company also builds the MongoDB Monitoring Service and focuses on providing paid support, training and consulting to customers. It plans to use the new financing to invest in product development for MongoDB and the Monitoring Service and to better support its growing community and user base worldwide. 10gen reports sales growth of 50% quarter over quarter for the past five years and has grown its team to 130 employees since early 2011. Clients include startups such as Foursquare as well as customers in telecommunications, financial services and media. The company has offices in Palo Alto, New York City, Dublin and London.

Participated · Equity · Jul 2013

Appcelerator is an enterprise mobile engagement platform provider that enables companies to build, analyze and connect suites of mobile apps. Its platform combines native cross‑platform app development and testing capabilities with real‑time mobile analytics to mobilize and measure data. The company also provides an open source mobile development environment, Titanium. Appcelerator counts over 70,000 mobile apps deployed on more than 225 million devices. In August 2014 the company raised $22M in Series D funding and said it will use the proceeds to increase growth and accelerate adoption of its technology. Led by CEO Jeff Haynie and based in Mountain View, CA, Appcelerator targets enterprise customers seeking to deliver and measure mobile experiences. Appcelerator offers an open-source mobile development environment (Titanium) plus cross-platform developer tools, analytics, performance testing and a mobile-backend-as-a-service to build and monitor apps. The company serves large brands and has partners such as eBay, Merck, Mitsubishi Electric, ZipCar, PayPal, Ray-Ban, SAP and Wipro. It supports an ecosystem of more than 480,000 mobile developers, 55,000 apps and 145 million devices. Appcelerator has grown about 130% year-over-year in sales, and reported more revenue in the first six months of the year than in the previous one. The new funding will be used to build a larger presence in Asia with a regional headquarters, R&D center and data center in Singapore, and to scale product development, sales and support. The company is also looking at potential acquisitions and plans to hire roughly 20 employees in Singapore in addition to its existing ~150 staff. Appcelerator’s flagship offering, Appcelerator Titanium, enables fully native, cross-platform mobile app and HTML5 web development from a single codebase. The company powers over 30,000 cloud-connected mobile, desktop, and web applications and reports Titanium-powered apps on more than 30 million unique devices. Its ecosystem includes 1.6 million developers and the company added 1,000 new customers in the past year. Appcelerator has expanded through acquisitions such as Aptana and Particle Code and grown headcount from 17 to 100 in 12 months. The company plans to use new funding to strengthen and expand the Titanium product line and invest in both consumer and enterprise application development. With over half of demand coming from Europe and Asia, Appcelerator intends to open a UK office and work with TransLink to enter Japan, Korea, and Greater China. Appcelerator provides a platform that lets Web developers rapidly build native iOS, Android, BlackBerry, desktop and iPad applications using Web technologies. The company offers a commerce-focused product called Titanium+Commerce, developed in partnership with PayPal to distribute an integrated mobile commerce solution through PayPal’s merchant channel. Appcelerator plans to use new funding to accelerate growth of its mobile commerce offering, invest in platform development and expand into new markets. The offering is intended to make it easy for PayPal’s merchants and Appcelerator’s Web developers to build native commerce apps across handsets, tablets, connected TVs and other devices. Financially, the company secured a $9M Series B round to support these initiatives. Existing investor participation and a strategic channel via PayPal are key elements of its go-to-market strategy. Appcelerator builds Titanium, an open-source RIA platform that enables web developers to create applications that look and function like desktop programs. The company released the first version of Titanium for Windows and Mac OS and shipped demo apps including Tweetanium and Playtanium. Titanium can bundle its runtime into applications so they do not require a separate runtime installation, and it leverages technologies such as C, C++, Objective C, Win32, Chromium, WebKit and Cocoa as well as a forked version of Google Gears for about 45% of its APIs, which are primarily JavaScript-based. Capabilities highlighted include background notifications, native windowing, file system access, geo-location and offline storage. Appcelerator has generated revenue through its SDK and attracted about 3,000 members to its developer community, which launched last March. The company was founded about two years ago and is based in Mountain View. Later versions of Titanium are planned to assist in developing native mobile applications, presumably for iPhone and Android.

Led · Equity · Jul 2011

Jaspersoft provides a commercial open source BI suite that includes pixel-perfect enterprise reporting, ad hoc query, dashboards, OLAP and in-memory analysis, and data integration. The company leverages a development community of more than 225,000 registered members that advance its software. Jaspersoft reports nearly 14 million product downloads, more than 175,000 production deployments and 14,000 commercial customers in 100 countries. Led by CEO Brian Gentile, the company operates from San Francisco, CA. Jaspersoft uses a commercial open source business model and sells enterprise offerings alongside its community editions. The company said it will use new capital to accelerate its product roadmap, expand globally and pursue potential strategic acquisitions. Jaspersoft is a provider of open-source business intelligence software. The company offers what it says is the most-downloaded business intelligence software, with 7 million downloads. It serves approximately 9,000 commercial customers. Jaspersoft is based in San Francisco. The company announced a $12.5 million funding round, its first since a $12 million fourth round in 2007. The new capital increases its funding base while it continues to distribute its open-source BI products. JasperSoft is a San Francisco provider of open-source software for business intelligence. The company sells open-source BI software to commercial customers. It reported having more than 6,000 customers. JasperSoft said it would use the funding to extend its international reach. The company raised $12 million in its fourth round, bringing total funding to $35.3 million.

Participated · Equity · Feb 2009

Black Duck Software provides OSS logistics solutions that enable enterprises to securely manage open source code and optimize open source adoption. Its core product, the Black Duck Hub, was launched publicly in April and helps security and development teams identify and mitigate open-source risks across application portfolios. The company connects developers to open source resources via The Black Duck Open Hub (formerly Ohloh) and to industry commentary through the Open Source Delivers blog. Black Duck plans to use the newly secured funding to commercialize the Black Duck Hub. The company is led by President and CEO Lou Shipley and other senior executives including Dean Vassiliou and Michael Pittenger. It maintains offices in Boston as well as San Mateo, London, Paris, Frankfurt, Hong Kong, Tokyo, Seoul, and Beijing. Black Duck Software provides an end-to-end OSS Logistics solution that enables enterprises to deploy, manage, and optimize open source software. The company connects developers to OSS resources through the Black Duck Open Hub and engages the community via the Open Source Think Tank. Management says it will release new solutions over the next 18 months to address supply-chain and software-development challenges stemming from widespread OSS adoption. Black Duck has helped Fortune 1000 firms improve software quality, accelerate development lifecycles, and improve compliance while mitigating security risks. The company is headquartered near Boston and maintains offices in San Mateo, London, Paris, Frankfurt, Hong Kong, Tokyo, Seoul, and Beijing. It recently raised new funding to support expansion of its global go-to-market model. Black Duck Software specializes in helping software developers ship products based on open source software more rapidly through a suite of products. The company also offers consulting, training and customer support services alongside tools that deduce licensing obligations and manage third-party code. Black Duck acquired open source code search engine Koders.com in April 2008. Founded in 2002, the company has expanded beyond license analysis into broader development-acceleration offerings. In 2008 it reported a 42% year-over-year increase in bookings and 65% growth in subscriptions and services. The firm added nearly $10 million in cash from the latest financing to expand its product line and international presence. Black Duck provides software that tracks companies' use of open-source code to identify origins, ownership and licensing requirements and to manage compliance. The product is used to help Fortune 500/Global 500 companies address licensing obligations as part of development, compliance programs, or in advance of M&A activity. The company says more than 100 companies are using Black Duck. Black Duck raised $12 million in a third-round financing led by Focus Ventures, bringing its total funding to $29 million. Previous investors Fidelity Ventures, Flagship Ventures, General Catalyst Partners, Intel Capital and SAP Ventures participated in the round. The company positions its offering to catch and resolve intellectual property and compliance issues during development to avoid lawsuits, product recalls, or failed mergers and acquisitions.