The Venture Codex

Participated · Series C · Apr 2025

Canopy is a Draper, UT–based company that offers a comprehensive cloud practice management suite for accounting firms. The platform combines client management, document management, workflow automation, and time & billing in a single system to increase firm efficiency and revenue. It also delivers specialty compliance tools that allow accountants to obtain IRS transcripts and resolve tax notices rapidly. All data processed through Canopy is SOC2 certified and encrypted, emphasizing security for sensitive financial information. The company plans to deploy its newly raised capital to expand operations and broaden its market reach. Its most recent financing totals $35 million, highlighting strong investor confidence in its growth prospects.

Participated · Series A · Jul 2024

Kargo Technologies operates a logistics marketplace that connects shippers and transportation providers across multiple modes (land, sea, air). The platform says it has more than 8,000 transportation networks across domestic and international markets, including over 15,000 truck-network listings and 1,500 trusted drivers. Kargo reports being used by more than 200 companies, including Orang Tua, Unilever, Nestle, Kino, and Danone. The company was founded in 2018 by CEO Tiger Fang and CTO Yodi Aditya. Management has described current penetration as roughly 1% of the total Indonesian logistics opportunity, which they estimate at a $250 billion market. The profile and metrics suggest the business is focused on expanding network density and customer adoption across Indonesia and beyond. Kargo runs a truck-hailing platform that aggregates Indonesia's fragmented haulage providers into a single online marketplace, enabling shippers to find nearby trucks with cargo space. The platform sources backhaul loads to reduce empty returns, helping trucks maximize revenue and distribute costs more efficiently. Users can track goods in real time via Kargo's app and website, improving traceability and accountability across routes. Indonesia's logistics market presents scale: close to seven million lorries operate across the archipelago and most hauliers run very small fleets, creating demand for digital aggregation. Kargo has secured an undisclosed investment from Amatil X and previously raised $7.6 million in seed capital in March 2019 from Sequoia Capital and 10100 Fund. The company is working with Coca-Cola Amatil to build out a transportation management system and already handles two land transportation routes for the bottler, with a joint team based at Cibitung to identify further collaboration.

Participated · Series D · Feb 2022

Salt Security protects APIs with an API Protection Platform that uses machine learning and AI to automatically and continuously identify and protect APIs. The company describes its patented solution as able to correlate activities across millions of APIs and users over time to provide real-time analysis and prevent next-generation API attacks. The platform is deployed in minutes, requires no configuration or customization, and learns the granular behavior of a company's APIs to pinpoint and block attackers. Salt announced a strategic investment from CrowdStrike’s Falcon Fund and a partnership to combine API discovery and runtime protection and enable security testing to harden APIs before release. The company will showcase its platform at Fal.Con 2022. No financial terms or operating metrics were disclosed in the announcement. Salt Security provides an API Protection Platform that uses machine learning and AI to automatically and continuously identify and protect APIs, learning granular API behavior and requiring no configuration. The patented solution is deployed in minutes and is designed to pinpoint and block API attackers. The company will use the new capital to expand R&D investment, fuel sales and marketing, and grow international operations to address rising API-targeted cyber threats. Salt was founded in 2016 by alumni of the Israeli Defense Forces and cybersecurity serial entrepreneurs and is led by CEO Roey Eliyahu. It is based in Palo Alto, CA and Tel Aviv, Israel and has raised $271 million to date. Salt Security provides an API Protection Platform that uses machine learning and AI to automatically and continuously identify and protect APIs, learning granular API behavior and requiring no configuration or customization. The platform is patented and is designed to be deployed in minutes to pinpoint and block API attackers. Led by CEO and co-founder Roey Eliyahu, the company focuses on protecting the APIs that form the core of modern applications. Salt plans to use new funding to expand global operations across R&D, sales and marketing, and customer success. Financially, the company has raised $131 million to date, including $120 million in the past year, and has seen rapid growth across key metrics. Salt Security builds an API Protection Platform that uses machine learning and AI to automatically discover APIs, prevent real-time attacks, and facilitate remediation. The platform is patented and supports every stage of the API lifecycle, deploys in minutes, learns granular API behavior, and requires no configuration. The company plans to use the new funding to accelerate product development, sales and marketing, and customer acquisition in 2021. Salt reports growing its customer base 200% and has recently added senior hires including a chief product officer and a VP of marketing. Financially, Salt raised a $30 million Series B and has raised $60 million in equity to date. The company was founded by Israeli Defense Forces alumni and cybersecurity executives and targets enterprise API security. Salt Security offers an API security service delivered as a SaaS application that helps customers defend against API attacks and find API-related vulnerabilities. The platform can also integrate via API with other solutions in a customer’s environment. The company reported it nearly doubled revenue in the first half of 2020 compared with the end of 2019 and said gross margins have improved to over 90%. Salt cited sharp demand from larger companies while also working with smaller firms as API usage grows. The firm said it plans to double in size by the end of the year and emphasized that diversity and inclusion are core to its culture after TechCrunch noted an all-male leadership team.

Participated · Series F · Jan 2022

Clari offers a purpose-built software platform that consolidates CRM data, revenue intelligence, sales enablement, and sales engagement signals to give revenue teams visibility and improve forecast accuracy. Its platform helps revenue teams drive process rigor, spot pipeline risk and opportunity, and increase operational efficiency. Thousands of sales, marketing, and customer success teams at more than 450 companies worldwide — including Okta, Adobe, Workday, Zoom, and Finastra — use Clari’s execution insights. Following a $225M Series F that values the company at over $2.6 billion, Clari plans to expand its team globally and advance its technical strategy to give customers more control over revenue. The company also intends to use the funding to fuel its acquisition strategy. Led by co‑founder and CEO Andy Byrne, Clari is positioned to scale its revenue operations platform across larger enterprises and partner ecosystems. Clari positions itself as a leader in revenue operations, offering a platform that connects sales and revenue systems to provide greater visibility and rigor across go-to-market teams. The company aims to drive efficiency and predictability for sales and revenue processes, helping businesses scale growth. Clari is partnering with HubSpot to extend revenue operations to more businesses and integrate with a leading CRM platform. Executives said the collaboration will deliver greater connectedness, efficiency, and predictability for customers. Alyssa Filter, Clari’s CFO, emphasized that the partnership will provide best-in-class solutions to support customer growth. HubSpot’s SVP of Corporate and Business Development, Andrew Lindsay, called Clari a natural partner to deliver greater value for customers. Clari provides a Revenue Operations Platform that helps revenue teams drive process rigor, spot pipeline risk and opportunities, increase forecast accuracy, and improve overall efficiency. Its platform delivers execution insights used by thousands of sales, marketing, and customer success teams at companies including Okta, Adobe, Zoom, and Finastra. The company announced a partnership with Workday through the Workday Software Partner Program to integrate Clari’s AI-powered forecasting insights with Workday Adaptive Planning’s financial planning and reporting workflows. That integration is intended to give companies visibility into future results and better connect revenue and financial planning. Financially, Clari extended its Series E with an investment from Workday Ventures; the amount of the investment was not disclosed. The product focus remains on connecting revenue processes and embedding forecasting intelligence into customers’ planning and reporting. Clari provides a revenue operations and forecasting platform that gives executive teams granular visibility and predictability into revenue outcomes. The product has primarily served sales and marketing teams and counts customers like HPE, Workday and Adobe. The company is expanding the scope of the product to bring revenue predictability to other parts of organizations and plans to push into additional verticals. Clari saw strong usage and inbound investor interest during 2020, and CEO Andy Byrne said he beat the revenue plan he submitted to the board by 110%, though he declined to disclose specific revenue figures. The company is up to about 300 employees and plans to double headcount by the end of 2021. Clari also says it is building toward an eventual IPO, but has not provided a timeframe. Clari uses AI to surface key information such as customers most likely to convert, the state of orders in the sales process, and the next sources of revenue. Its core product is an AI-fueled revenue operations and forecasting system designed to replace spreadsheet-driven record keeping. The platform helps reps prioritize where to spend time, automates tasks to close deals faster, and gives managers new insights and more predictability in forecasting. Clari counts customers including Okta, Zoom and Qualtrics and has more than 300 customers. The company has just passed 200 employees and plans to use the new funding to accelerate growth and expand the product’s capabilities. Financially, Clari recently closed a $60M Series D at a valuation pegged at around $500M and has raised $135M in total to date.

Participated · Series B · May 2021

TaniHub Group operates a three-unit agritech platform—TaniHub (B2B e-commerce), TaniSupply (logistics and warehousing) and TaniFund (fintech lending)—that connects farmers directly to restaurants, retailers and consumers. The company supports order fulfillment through six warehousing and processing facilities and its own couriers or third-party logistics providers, enabling harvests to be washed, sorted and packed within an hour. TaniFund provides tailored loans to farmers using a credit-scoring system based on three years of performance, agriculture value-chain expertise, partnerships with financial institutions and more than 100 data points per assessment. Founded in 2016, TaniHub says it now works with more than 45,000 farmers and 350,000 buyers and grew revenue 600% year‑over‑year in 2020 as online grocery demand surged. The company has begun exporting fruits and spices to the UAE, Singapore and South Korea but plans to focus expansion within Indonesia, extend coverage beyond Java and Bali, and build upstream and midstream capacity such as new cultivation areas, processing and packing centers and additional warehouses. It also plans to improve supply-demand forecasting to reduce price volatility and explore precision farming technologies. TaniHub Group is an Indonesian agritech startup. The company announced it raised $17 million in a Series A+ round. The fundraise was co-led by Openspace Ventures and Intudo Ventures. The company disclosed the transaction in a statement, according to the article. The article did not provide additional operational metrics, product details, future plans, or financial information beyond the fundraise. TaniGroup operates a B2B sales platform (TaniHub) and a microloan fund (TaniFund) to help more than 25,000 Indonesian farmers access retailers and working capital. The platform has a registered user base of about 400 SMEs and 10,000 consumers; TaniFund is registered with the Financial Services Authority (OJK) and is a member of AFPI. The company says it can help farmers increase overall income by 60% or more, driven by higher sales volumes and prices that are typically 30–40% above traditional reseller channels. Founded in 2016 by Eka Pamitra, TaniGroup is focused on expanding nationwide in Indonesia while noting potential for future overseas expansion after addressing domestic scale. It has already exported orders to markets including Switzerland, Singapore and Malaysia. The startup plans to use new capital for hiring, technology improvements, logistics expansion and warehouse upgrades, and has government support including access to research and a database of some 3 million farmers.