Participated · Series E · Jul 2017

HyTrust provides solutions that automate security controls for software-defined computing, networking and storage workloads to deliver visibility, granular policy control and data protection across private, public and hybrid clouds. The company positions itself as a leader in cloud workload protection and emphasizes automated policy enforcement and compliance to help enterprises and government agencies secure workloads. HyTrust said it will use its new funding to expand sales and marketing and to fund new product development. A portion of the proceeds is earmarked to finance the announced acquisition of DataGravity. The company cites adoption by large financial institutions and government agencies as validation of its approach. HyTrust is headquartered in Mountain View, CA and is backed by both strategic partners and venture investors including VMware, Cisco, Intel, Fortinet, In-Q-Tel, AVP, Sway Ventures, Granite Ventures, Trident Capital and Vanedge Capital. HyTrust develops software to secure next-generation datacenters by automating data protection and continuously enforcing security policies for the people and tools that operate private, hybrid and public clouds. Its products provide policy-based controls, visibility and data security to help enterprises meet compliance mandates, improve application uptime, and reduce the risk of compromise. The company positions itself as a leader in private and hybrid cloud security and lists technology and go-to-market partners including VMware, VCE, Symantec, CA, McAfee, Splunk, HP Arcsight, Accuvant, RSA, IBM and Intel. The latest funding round is intended to boost marketing, sales and product development and to support expansion into international markets. HyTrust is backed by strategic investors VMware, Cisco, Intel, In-Q-Tel and Fortinet alongside venture investors Granite Ventures, Trident Capital, Epic Ventures, AITV and Vanedge Capital. It has also expanded its relationship with City National Bank to provide additional venture debt and credit facilities to support future growth. HyTrust develops security technology designed for virtualized data centers that consolidate compute, storage and networking into a software layer. Its core product mediates between administrators and the virtual infrastructure, providing a role-based system to control and monitor administrative actions. The platform enables real-time visibility into administrator behavior versus permitted actions to reduce the risk of accidental or malicious changes. HyTrust emphasizes protecting modern data centers from both insider risks (e.g., administrators erasing or copying VMs) and remote attacks that can cross continents. The company positions its solution as a response to new security challenges created by management platforms in virtual environments. The articles note the company has secured venture funding to support its product and growth. HyTrust delivers real-time control, administrative account monitoring, logging and compliance assurance to enable secure cloud adoption and virtualization of critical workloads. The company’s products focus on enforcing policy, auditability and administrative controls at the virtualization and cloud layer to mitigate concentration of risk. HyTrust positions its solution to provide cloud control, visibility and operational readiness for mission-critical workloads and to satisfy security teams and compliance auditors. The company announced a strategic investment and technology-development agreement with In-Q-Tel to fuel product development and expand support operations. That partnership is intended to broaden HyTrust’s reach into the federal sector and address unique government agency requirements. HyTrust is headquartered in Mountain View, CA and is backed by investors including VMware, Granite Ventures, Cisco Systems, Trident Capital and Epic Ventures. HyTrust has developed a policy management system specifically for virtualization that enables IT departments to control and virtualize servers. The company helps organizations manage and control virtual infrastructure. TechCrunch reports HyTrust launched last year. It says the new funding will be used to drive product development and to fuel sales and marketing efforts. HyTrust faces competition from Catbird. The company has raised a total of $16 million to date following the latest round.

Participated · Equity · May 2017

Mocana provides device security solutions for IoT and industrial control systems, including its TrustCenter™ and TrustPoint™ products that automate and simplify the IoT security lifecycle. The platform complements IT and OT security technologies and enables endpoints and gateways to defend themselves with on-device cryptographic controls designed for mission-critical systems with limited memory and processing capability. The company protects more than 100 million devices across aerospace, industrial, energy, healthcare, and communications customers, including ABB, rtGE, HP, Intel, Schneider Electric, Verizon, and Xerox. Founded in 2002 and led by CEO William Diotte, Mocana is based in Sunnyvale, California. It raised the first close of a $15m financing and has raised $105m in total funding to date. The company intends to use the new funds to accelerate development of its TrustCenter IoT device security platform. Mocana Corporation is a San Francisco-based provider of mission-critical IoT security solutions for industrial control systems and the Internet of Things. Its platform secures devices from the endpoint to the gateway to the cloud by protecting the boot process and firmware and securing data transmission between device, gateway and cloud. The company serves hundreds of industrial manufacturing and IoT customers, including GE, General Dynamics, Panasonic, Schneider Electric, Siemens and Yokogawa. Founded in 2002 and led by CEO William Diotte, Mocana focuses on ensuring that both devices and their data can be trusted. It has raised $93.6M in total funding to date and reported a new $11M funding round. The company said it will use the capital to accelerate innovation and drive growth. Mocana offers a Mobile Application Protection platform that automates end-to-end security and authenticates mobile users, apps and devices to business systems. Its platform is distributed globally by SAP and Unisys. The technology is used by more than 300 device manufacturers across markets such as medical devices, consumer electronics and industrial automation. Customers listed in the article include Panasonic, Cisco, Honeywell, GE, Siemens, Freescale, General Dynamics, Avaya and Dell, as well as five of the top seven Android handset makers. Led by CEO James Isaacs, the company plans to use new funding to expand product lines, build out its international presence and increase marketing activities. Mocana is headquartered in San Francisco, CA. Mocana builds security solutions for mobile apps and smart devices, offering features such as geofencing, time fencing and an app-wrapping technology that protects app data and manages permissions. The company targets enterprise needs to protect mobile devices and apps while addressing intersections with the emerging Internet of Things, including connected cars and manufacturer app stores. Mocana aims to become a global security franchise focused on the mobile market, which it estimates at $3–$5 billion in size. To scale, Mocana intends to build a network of third-party providers such as mobile device makers (MDM) and corporate app stores. It competes with internal development and third-party app providers such as VMware. Financially, the company has raised a total of $47 million after a $25 million Series D from Trident Capital. Mocana offers a device-resident software stack combined with context-intelligent security services delivered from the cloud to secure IP-addressable devices and the applications and services that run on them. The company positions its platform as device- and network-independent, targeting smartphones, medical devices, industrial automation, smart grid, automotive, connected home appliances and other IoT markets. Mocana says it has enjoyed impressive year-over-year growth since launching in 2004 and is a closely-held San Francisco firm. More than 150 companies have licensed Mocana’s solutions, and its customer list includes Intel, General Electric, Cisco, Honeywell, General Dynamics, Samsung, LG and Siemens. The company has won industry recognition, including Frost & Sullivan’s Technology Innovation of the Year for Device Security and placement on Red Herring’s Global 100. Mocana frames future work around accelerating new smart-device markets through partnerships and expanded platform deployments.

Participated · Equity · Oct 2015

UserZoom provides a Digital User Experience Insights System whose participant recruitment engine and professional services deliver quantitative and qualitative insights for testing, measuring, and improving digital product experiences at speed and scale. The company helps businesses connect insights to key performance metrics so they can make customer-focused decisions that drive growth and competitive advantage. UserZoom operates in North America and Europe and serves global brands such as Google, Oracle, Aetna, Santander, and Kimberly-Clark. Founded in 2007, the company will use the new investment to accelerate innovation and growth for its proprietary insights system. The announcement values UserZoom at $800M and notes the investment is a strategic growth investment from Thoma Bravo. Founders, management, and current investor Sunstone Partners will remain significant shareholders. UserZoom offers a platform branded as Experience Insights Management (XIM) that helps companies test and iterate on digital experiences across web, mobile, smartwatch, voice and other interfaces. Customers include Google, Microsoft, PayPal and Salesforce; the product recruits testers, runs UX studies, and surfaces KPIs for conversions, accessibility and other goals. The company plans to extend testing to additional interfaces such as automotive systems and to deepen research capabilities after acquiring EnjoyHQ. UserZoom began as a Barcelona consulting business and now runs engineering and support teams (about 100 of ~300 employees) out of Barcelona while its headquarters are in San Jose. It says it is currently profitable, grew revenue 40% last year, and is on an $80M annual run rate. UserZoom Technologies provides a User Experience (UX) research and testing SaaS platform combined with managed services to help enterprises measure and improve digital experiences. The platform enables UX/CX teams, product managers, and marketing professionals to conduct thousands of concurrent usability tests of websites and mobile apps. Clients include Lenovo, Intel and Citigroup, which automate their usability testing through UserZoom’s platform. The company was founded in Barcelona in 2007 by Alfonso de la Nuez, Javier Darriba and Xavier Mestres and is based in San Jose, CA. UserZoom maintains additional offices in Spain, the UK and Germany. Following a $34M financing, the company intends to use the funds to support growth.

Participated · Series E · Aug 2015

AlienVault provides a Unified Security Management (USM) platform and Open Threat Exchange (OTX), an open threat intelligence community that enables collaborative defense with community-powered threat data. Led by Barmak Meftah, president and CEO, the company pairs USM and crowd-sourced intelligence to help organizations detect and respond to threats. It serves more than 2,000 customers and government organizations, including Columbia University, Peet’s Coffee & Tea, NASA and Save Mart. AlienVault is based in San Mateo, CA. The company closed a $52M Series E and has raised nearly $116M in total funding. It plans to use the funds to scale global sales and marketing programs and to increase investments in product innovation for its platforms. AlienVault operates the Open Threat Exchange, a crowdsourced platform that connects security experts and researchers to accelerate threat discovery and response. It also offers a Unified Security Management solution that helps organizations with limited security resources monitor and respond to threats. The company's products are positioned to make security accessible to cash‑strapped startups and other resource‑constrained firms. Intel Capital's participation in the recent fundraise is expected to expand distribution by introducing AlienVault to 150,000 Intel Technology Providers. AlienVault has raised $66 million to date and recently closed a $30 million Series D after Intel Capital increased the round from an initially announced $26.5 million. AlienVault offers a unified Security Information and Event Management (SIEM) solution, with its flagship open-source OSSIM product widely deployed across enterprises and governments. The company aggregates community-sourced threat data via the AlienVault Open Threat Exchange to power threat intelligence and detection. Since January it added 60 customers and now works with over 300 companies and governments, including Telefónica, Metro Madrid, the European Aeronautic Defense and Space Company, and the city of Los Angeles. CEO Barmak Meftah said the startup doubled revenue in the first half of 2012, driven by a 50%+ upsell rate to existing customers. AlienVault plans to use new capital to expand sales, marketing and R&D to position itself as a leading player in the growing SIEM market. AlienVault's flagship product is OSSIM, an open-source SIEM solution that provides unified management of critical security systems and processes, including vulnerability scanning. The company targets both government organizations and corporations and counts customers such as Telefonica, Metro Madrid and the European Aeronautic Defense and Space Company. AlienVault recently hired seven senior HP security executives, including Barmak Meftah (who left HP Fortify to become president and CEO). The startup is positioning itself in the fast-growing SIEM market, which William Blair & Co. estimates is growing at a 21.9% CAGR and on track to surpass $2.3 billion by 2014. Financially, AlienVault has raised an $8 million Series B and has total funding of over $12 million. The company plans to use the new capital to expand sales and marketing and to increase research and development to meet growing demand. AlienVault offers both open-source and proprietary SIEM (security information and event manager) software that centralizes, stores and makes use of large volumes of network-generated data. The company was founded in 2007 and has offices in Madrid, Atlanta and San Francisco. It announced its first institutional funding round, raising $4 million led by Adara Venture Partners with additional investment from Teldat Group and Neotec. The articles describe the raise as an institutional funding round; no further instrument or valuation details were disclosed. AlienVault plans to use the proceeds to expand its market. Adara managing partner Alberto Gómez said the company has established a dominant market share early and still has significant opportunity ahead.

Led · Series A · Feb 2015

Imagine Health builds custom provider teams of hospitals and physicians (branded SmartCare™) for large, self-funded employers. The company currently operates SmartCare teams in Chicago, Dallas, Houston, San Antonio, Albuquerque and Boise. Its networks comprise more than 22,000 healthcare providers and 350,000 members. Led by chairman and CEO Allison Robbins, Imagine Health plans to use the new funding to expand into new markets, with immediate development activities in Phoenix, San Francisco and Atlanta. The company raised a Series A to support this market expansion and continued product deployment. Management added board members from the lead investors as part of the round.