Participated · Series F · May 2026

Stord provides a vertically integrated commerce stack combining fulfillment network operations, software, and applied AI to help independent brands deliver faster, more reliable consumer experiences. The company operates nearly 100 fulfillment facilities, serves over 1,000 customers, and processes more than $15 billion in annual GMV. Stord has grown rapidly—approximately 10x revenue over the past four years—and reports its software business tripled in 2025 with new bookings more than doubling quarter over quarter in Q1 2026. The company employs over 4,000 people with more than 200 dedicated to software engineering, product, data science, and physical infrastructure, and has completed eight acquisitions. Stord is investing the proceeds of its Series F to deepen its work on physical intelligence, launching Stord Labs to develop and validate agentic AI, robotics, and advanced automation on live operational data before scaling those innovations across its network.

Participated · Series C · Oct 2023

Pulumi is an open source Infrastructure as Code platform that enables engineers and developers to program cloud infrastructure using general-purpose languages. Its product set includes Pulumi Insights, which provides analytics and search across cloud infrastructure, and Pulumi AI, which generates infrastructure as code from natural language. The company says its platform enables customers to manage 10x more resources at lower cost than traditional tools. Pulumi doubled revenue over the past year and now counts over 2,000 customers and 150,000 users, with more than half of the Fortune 50 using the platform. The company plans to continue innovating on its open source platform, advance infrastructure security, and bring generative AI to cloud engineers and developers. Based in Seattle, Pulumi recently appointed Bob Laskey as Chief Customer Officer to improve customer experience, expand its partner ecosystem, and grow professional services. Pulumi builds a cloud engineering platform rooted in infrastructure-as-code, designed as a cloud-native product rather than a legacy port. The company launched Pulumi 2.0, adding support for testing and policy-as-code to enable governance and compliance as part of infrastructure management. That release is intended to broaden Pulumi’s user base beyond infrastructure teams to developers and security engineers, a shift the company calls “cloud engineering.” Pulumi reported a 10x growth in adoption over the prior 12 months. Financially, the company announced a $37.5M Series B and has now raised $57.5M in total. The company also expanded its leadership team with hires including Jay Wampold (CMO), Lindsay Marolich (senior director of demand generation), Kevin Kotecki (VP of sales) and Lee-Ming Zen (VP of engineering). Pulumi builds on open-source tooling to let developers define and manage cloud infrastructure using real programming languages. The company launched a commercial platform today that includes a new team edition in addition to its free single-user community edition. The team edition is delivered as a SaaS product with support for unlimited users, integrations with GitHub and Slack, role-based access controls, onboarding, and 12×5 support, and it deploys to major public and private clouds. Pulumi reports strong momentum in its open-source community, including community-led support for VMware and OpenStack. With new funding the company plans to scale its team and product, invest heavily in community development, simplify onboarding toward a self-serve experience, and expand pre- and post-sales for larger organizations. The current team is mostly composed of engineers. Pulumi launched a cloud development platform designed for developers and DevOps teams to build and manage cloud-native software that uses containers, serverless functions, APIs, and infrastructure with a consistent, code-first approach. The platform is multi-language (currently supporting JavaScript, TypeScript, Python, and Go, with Java and C# planned) and multi-cloud (targeting AWS, Azure, GCP, and Kubernetes). Pulumi’s core platform and supporting packages are open source on GitHub under the Apache 2.0 license and are fully extensible, with an open package ecosystem that leverages existing package managers. Alongside the open-source offerings, Pulumi is running a Pulumi SaaS in public preview to provide collaboration and team/organization management; the preview is free and the company will continue a free tier while offering enterprise functionality after exit from preview. The founding team includes Joe Duffy (CEO), Eric Rudder (Executive Chairman), and Luke Hoban (CTO), who bring developer-tools and cloud experience from Microsoft and AWS. As part of its launch, Pulumi disclosed a $5M seed investment from Madrona Venture Group and Tola Capital.

Participated · Series A · Mar 2022

Founded in 2019, San-Francisco-based Kargo offers an integrated solution of computer-vision "towers" and lifts that automatically inspect freight, verify shipments against Bills of Lading, and stream inventory data into customers’ systems without manual scanning. The platform flags damage, manages OS&D claims with visual evidence, and coordinates scheduling, driver check-in and dock allocation in one workflow. Since its 2022 Series A the company has grown its enterprise customer count from three to more than 45, including Fortune 500 players such as Wayne-Sanderson, Aurobindo, Tillamook and Mercedes-Benz, and has deployed over 1,000 towers nationwide. Kargo reports tripling annual revenue from 2024 to 2025, driven by rapid follow-on orders once initial hardware is installed. Building on its proprietary data layer, the firm is now launching “Kargo Intelligence,” an agentic-AI suite that automates back-office tasks like invoicing, claims disputes and financial reconciliation. Management positions the product as a “universal interpreter” for supply chains, aiming to embed at every node for compounding data network effects.