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The Venture Codex

Silver Lake Waterman

One Market Plaza, Steuart Tower, 10th Floor Suite 1000, San Francisco, California, 94105, United States

Overview

Silver Lake Waterman provides growth capital to late-stage growth companies in the technology-enabled industries. It manages approximately $75 billion in combined assets and is committed capital and a team of investment and operating professionals based in Menlo Park, New York, London, Hong Kong, Cupertino, and San Francisco. Silver Lake’s portfolio of investments collectively generates more than $180 billion of revenue annually and employs more than 400,000 people globally.

Total investments
49
Lead investments
22
Investments · 12mo
4
Active investors
4

Sector focus

  • Asset Management
  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Netomi

    Participated · Series C · May 2026

    Netomi builds AI-driven customer service agents that leverage large language models from OpenAI, Anthropic and Google to handle medium-complexity customer inquiries. Its platform is used by enterprises including United Airlines, Delta Air Lines, Paramount and DraftKings. The company is California-based and was founded roughly a decade ago; it employs about 170 people. Netomi has raised over $160 million to date, including the recent $110 million Series C, and is partnering with Accenture and Adobe to accelerate deployments and integrations. Management says the company will invest the new capital in customer deployments and research and development and aims to develop agents that can proactively resolve customer issues.

  • Vestwell

    Participated · Series E · Feb 2026

    Founded in 2016, Vestwell delivers a unified, modern savings infrastructure that integrates with payroll providers, benefits platforms, financial institutions, advisors and government agencies. Its cloud platform supports over 2 million active savers and administers more than $50 billion in assets, generating in excess of $200 million in annual recurring revenue while operating profitably. The company’s technology embeds savings at the point income is earned, offers multilingual experiences in 20+ languages, and is expanding AI-driven guidance and administration to personalize user interactions. Recent product extensions include workplace emergency savings, college savings, student-debt solutions, and ABLE accounts, all delivered through the same architecture. Vestwell is also rolling out more sophisticated, professionally managed investment options that tailor portfolios to long-term retirement income goals. Future plans center on broadening distribution channels, deepening AI-native capabilities, and expanding beyond retirement to close America’s $50 trillion savings gap.

  • Alembic

    Participated · Series B · Nov 2025

    Alembic Technologies has built a proprietary Causal AI platform that uses graph neural-network architecture and continuous-learning spiking neural networks to reveal how specific business actions drive outcomes. Its first application lets marketers connect every advertising dollar to resulting revenue, and the company plans to broaden the engine’s causal-inference analysis across other enterprise functions. Current Fortune 500 clients include Delta Air Lines, Mars, and founding customer NVIDIA. To support rising data volumes and demand, Alembic is deploying an NVIDIA NVL72 SuperPOD cluster at Equinix’s SV11 data center, powered by the NVIDIA AI Enterprise software suite. This high-performance computing backbone will enable real-time causal insights as customer datasets expand. The company is headquartered in San Francisco and is led by founder and CEO Tomás Puig.

  • Findem

    Led · Series C · Oct 2025

    Findem’s platform converts millions of proprietary, expert-labeled attributes into more than 800 million “3D profiles,” allowing recruiting teams to identify candidates based on validated success signals rather than surface-level résumé data. The solution unifies multichannel sourcing, CRM, and analytics, letting talent acquisition (TA) teams streamline workflows and focus on higher-quality candidates. Introduced in 2020, its data-labeling engine underpins domain-specific AI that predicts which candidates will thrive in particular roles, teams, and cultures. Over the past year the company posted 3× year-over-year growth, earned a top-10 % ranking on the Inc. 5000, and was named one of America’s most innovative companies by Fortune and Fast Company. Customers such as RingCentral and Nutanix use Findem to build continuous pipelines of diverse, high-impact talent. With the new funding, Findem intends to expand its dataset, accelerate development of agentic AI workflows, and scale go-to-market efforts worldwide. The latest raise brings the company’s total funding to $105 million, positioning it for continued global expansion.

  • Kasa Living

    Led · Equity · Aug 2025

    Kasa is a NYC-based tech-enabled hospitality brand and manager for boutique hotel and apartment-style lodging properties, led by founder and CEO Roman Pedan. Its core product is a proprietary hospitality Operating System that combines technology and streamlined operations to deliver guest experiences and optimize property owner profitability. The company serves as the exclusive short-term rental provider to half of the 20 largest multifamily owners in the U.S. and partners with institutions including Starwood Capital, Berkshire, Prudential, and Greystar. Kasa operates over 85 properties across more than 45 markets nationwide. It has surpassed $100M in annual booking revenue, more than doubling its business in the past year. The company intends to use the new funding to accelerate investment in the technology and AI capabilities that power its platform. Kasa Living operates a tech-powered hospitality platform that transforms investor-owned multifamily apartments, boutique hotels, and single-family homes into professionally managed, flexible accommodations. The company partners with real estate owners including Greystar, AMLI Residential, and Starwood Capital as well as local hospitality investors and developers. Kasa runs operations in Seattle, Chicago, Denver, Austin, San Francisco and Pittsburgh. Founded in 2016 and led by CEO Roman Pedan, the company has added Jonathan Langer to its board. Kasa says it will use the new funding to expand operations and broaden its business reach. The brand focuses on scaling its operator model across gateway and secondary U.S. markets. Kasa Living provides technology-powered flexible accommodations by partnering with multifamily and boutique hospitality property owners to convert vacant or underutilized units into stylishly furnished, professionally managed stays. The company operates management agreements in 35 markets across 15 states and has expanded units under management by 50 percent recently. Over the past nine months Kasa has maintained approximately 75 percent occupancy and grown monthly revenues by about 50 percent since December, while generating positive operating margins. Kasa emphasizes a proprietary technology platform that handles operational complexity, guest experience, community safety, and partner integrations to enable distributed hospitality at scale. The company plans to accelerate investment in its technology team and product suite to streamline operations and minimize onsite overhead. Kasa was founded in 2016 and is headquartered in San Francisco.

Team