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Sierra Ventures

From EverybodyWiki Bios & Wiki


Sierra Ventures
Private
ISIN🆔
IndustryVenture Capital
Founded 📆1982; 44 years ago (1982)
Founder 👔Peter Wendell
Headquarters 🏙️,
San Mateo, California
,
United States
Area served 🗺️
Key people
Mark Fernandes (Managing Director), Tim Guleri (Managing Director), Ben Yu (Managing Director)
ServicesEarly stage investment
Members
Number of employees
🌐 Websitewww.sierraventures.com
📇 Address
📞 telephone

Sierra Ventures is an American venture capital firm based in San Mateo, California. It targets startups in sectors including enterprise tech, artificial intelligence, cybersecurity and healthcare.[1]

Sierra Ventures’ CXO Advisory Board is composed of more than seventy-five Fortune 1000 CIOs, CTOs, CMOs, and CISOs and has advised portfolio companies since 2006.[2][3]

History

The firm was founded by Peter Wendell in 1982 in Menlo Park, California.[4][5] Early investments included Healtheon, Intuit, Micromuse, and StrataCom.[4]

The firm is run by managing directors Mark Fernandes, Tim Guleri, and Ben Yu and is based in San Mateo, California.[6] In 2024, the firm added a 4th managing partner, Shashank Saxena.[7]

Investments

As of 2024, Sierra Ventures had invested over $2 billion.[8] The firm focuses on Seed and Series A-stage companies with a typical investment between $1 and $3.5 million for seed and $4 and $8 million for a Series A.[9][10]

Sierra Ventures’ CXO Advisory Board, a group of Global 1000 Chief Information, Technology, Data, Security, and other technology focused Officers and IT executives, advises on the firm's strategic investment decisions.[2] The board also counsels portfolio companies on how to scale and adapt as necessary.[11]

Sierra Ventures is currently investing out of its thirteenth fund, which is focused on early-stage software startups and closed in 2023 with $265 million. The firm's previous two funds closed at $215 million and $170 million.[12][13]

Some notable past investments include:

  • Adometry – online advertising attribution company, acquired by Google in 2014.[14]
  • Applitools - AI-based visual test automation software company, acquired in 2023 by Thoma Bravo for $250 million.[15]
  • AuthenTec – mobile security company, acquired in 2012 by Apple for $365 million.[16]
  • Bina Technologies – big data science platform for researchers and clinicians, acquired in 2014 by Roche.[17]
  • Deep Lens - a patient recruitment platform for oncology-focused clinical trials, acquired by Paradigm in 2023 for an undisclosed sum.[18]
  • Frontbridge – electronic messaging and security services provider, acquired in 2005 by Microsoft.[19]
  • Greenplum – database analytics and software developer, acquired in 2010 by Dell EMC.[20]
  • Healtheon – online healthcare resource, merged with WebMD in 1999.[4][21]
  • Intuit – business and financial software company, went public in 1993; now valued at over $55 billion.[22]
  • Intuitive Surgical – surgical robotic developer, went public in 2000;[23] as of July 2019, the company has a market capitalization of over $60 billion.[24]
  • InvenSense – MotionTracking sensor chip provider, acquired by TDK in 2016 for $1.3 billion.[25]
  • Lemonaid Health - virtual care and pharmacy provider, acquired by 23andMe in 2021 for $400 million.[26]
  • MakeMyTrip – India-based online travel company, went public in 2010.[27]
  • Micromuse – provider of network management software, acquired by IBM in 2005 for $865 million.[28]
  • Nexgate – cloud-based social web security, acquired in 2014 by Proofpoint for $35 million.[6]
  • NextInput – provider of micro-electromechanical systems (MEMS)-based sensing solutions for human-machine interface (HMI), acquired in 2021 by Qorvo.[29]
  • OnLink – provider of eCommerce sales and marketing applications, acquired by Siebel Systems in 2000 for approximately $607.5 million.[30]
  • Ooyala – developer of video content workflow management systems, acquired in 2012 by Telstra for $43 million.[31]
  • Quillbot - AI writing platform, acquired by Course Hero in 2021 for an undisclosed amount.[32]
  • Quinta – developer of next-generation data-storage technology, acquired by Seagate Technology in 1997 for $325 million.[33]
  • Redlock – cloud security software developer, acquired in 2018 by Palo Alto Networks for $173 million.[34]
  • Shape Security – fraud prevention platform, acquired by F5 in 2019 for $1 billion.[35]
  • Sourcefire – network security hardware and software developer, acquired in 2013 by Cisco.[36]
  • StrataCom – supplier of Asynchronous Transfer Mode (ATM) and Frame Relay high-speed wide area network (WAN) switching equipment, acquired in 1996 by Cisco for approximately $4 billion.[37]
  • Tempo – AI-enhanced calendar application, acquired in 2015 by Salesforce.[38]
  • Theravance Biopharma – biopharmaceutical company, went public in 2014.[citation needed]
  • Treasure Data – cloud-based data collection, storage and analysis services, acquired in 2018 by ARM for $600 million.[39]
  • Teradata – provider of database and analytics-related software and services, acquired by NCR Corporation in 1991 for $250 million; subsequently spun out by NCR in 2007 and now trades on the NYSE (symbol TDC) with a $3B market cap.[40][41]
  • Terayon – developer of cable modem systems for broadband access, went public in 1998.[42]
  • Ximalaya – Chinese audio platform.[6]
  • Zimperium – enterprise mobile security platform, acquired in 2022 by Liberty Security Capital for $525 million.[43]

References

  1. ↑ Vartabedian, Marc (November 7, 2018). "Sierra Ventures Raises $265 Million to Continue 'Right-Sized Fund' Approach". The Wall Street Journal. Retrieved September 12, 2023.
  2. ↑ 2.0 2.1 High, Peter (22 July 2019). "As Sierra Ventures Announces 12th Fund, MD Mark Fernandes Offers A Look Inside The Firm". Forbes. Retrieved 27 July 2019.
  3. ↑ "Sierra Ventures Raises $265M Fund XIII". FinSMEs. Retrieved 2024-05-01.
  4. ↑ 4.0 4.1 4.2 Young, Susan (1 October 2001). "New Economy Notables: Peter C. Wendell". HBS Alumni. Retrieved 15 July 2019.
  5. ↑ Clark, Meaghan (3 November 2013). "21 Stanford professors who could be your biggest startup investor". The Stanford Daily. Retrieved 15 July 2019.
  6. ↑ 6.0 6.1 6.2 Loizos, Connie (7 January 2016). "Sierra Ventures Closes 11th Fund With $170 Million". TechCrunch. Retrieved 31 July 2019.
  7. ↑ Breymeyer, Natalie. "Monthly people move spotlight: Shashank Saxena named managing partner at Sierra Ventures". Axios. Retrieved 2024-05-10.
  8. ↑ Yu, Ben (31 March 2019). "The convergence of 5G and AI: A venture capitalist's view". VentureBeat. Retrieved 15 July 2019.
  9. ↑ "Investing in Early-Stage Excellence". Sierra Ventures. Retrieved 2024-05-01.
  10. ↑ "Company Overview of Sierra Ventures". Bloomberg. Retrieved 15 July 2019.
  11. ↑ Gage, Deborah (23 August 2013). "Sierra Ventures' New Partner Taps Tough Startup Experience". The Wall Street Journal. Retrieved 15 July 2019.
  12. ↑ "Sierra Ventures Raises $265 Million to Continue 'Right-Sized Fund' Approach". WSJ.
  13. ↑ "Sierra Ventures seeks $175 mln for 12th flagship fund". Venture Capital Journal. 21 March 2019. Retrieved 15 July 2017.
  14. ↑ Shields, Mike (6 May 2014). "Google to Acquire Online Attribution Firm Adometry". The Wall Street Journal. Retrieved 30 July 2019.
  15. ↑ Shulman, Sophie (March 30, 2021). "Thoma Bravo acquires Applitools for $250 million". Calcalist. Tel Aviv. Retrieved April 26, 2024.
  16. ↑ Rusli, Evyln M. (27 July 2012). "Apple to Acquire AuthenTec for $365 Million". The New York Times. Retrieved 27 July 2019.
  17. ↑ McCormick, Jason (23 December 2014). "Big Data's Bina acquired by Big Pharma's Roche". Silicon Valley Business Journal. Retrieved 31 July 2019.
  18. ↑ Landi, Heather (January 30, 2023). "Tech startup Paradigm lands $203M to get more patients into clinical research, accelerate drug trials". fiercehealthcare.com. Fierce Healthcare. Retrieved April 26, 2024.
  19. ↑ Fried, Ina (31 August 2005). "Microsoft completes FrontBridge acquisition". CNET. Retrieved 27 July 2019.
  20. ↑ Malik, Om (6 July 2010). "Big Data = Big Money: EMC Buys Greenplum". Gigaom. Archived from the original on July 8, 2010. Retrieved 31 July 2019. Unknown parameter |url-status= ignored (help)
  21. ↑ Slud, Martha (20 May 1999). "Healtheon, WebMD to merge". CNN Money. Archived from the original on February 15, 2002. Retrieved 21 July 2019. Unknown parameter |url-status= ignored (help)
  22. ↑ "Intuit Inc. History". Funding Universe. Retrieved 21 July 2019.
  23. ↑ Doe. "Intuitive Surgical Inc (ISRG) IPO". Nasdaq. Retrieved 30 July 2019.
  24. ↑ "Intuitive Surgical Inc". Bloomberg. Retrieved 30 July 2019.
  25. ↑ Fenner, Robert (21 December 2016). "TDK Agrees to Buy InvenSense for About $1.3 Billion in Cash". Bloomberg News. Retrieved 27 July 2019.
  26. ↑ Nadeem, Dania (October 22, 2021). "23andMe to buy telehealth firm Lemonaid for $400 mln". Reuters. Bengaluru. Retrieved May 3, 2024.
  27. ↑ Cowan, Lynn (12 August 2010). "MakeMyTrip, Up 89%, Has Best IPO Since 2007". The Wall Street Journal. Retrieved 31 July 2019.
  28. ↑ "IBM to Acquire Micromuse Inc". IBM. 21 December 2005. Archived from the original on December 24, 2005. Retrieved 21 July 2019. Unknown parameter |url-status= ignored (help)
  29. ↑ "Qorvo acquires MEMS-based sensor solution provider NextInput". semiconductor-today.com. Semiconductor Today. May 7, 2021. Retrieved April 26, 2024.
  30. ↑ Spangler, Todd (11 December 2013). "Internet-Video Startup Ooyala Reels In $43 Mil from Australia's Telstra". Variety. Retrieved 27 July 2019.
  31. ↑ "Course Hero Acquires Iconic Study Platforms CliffsNotes and Quillbot". iblnews.org. IBL News. August 20, 2021. Retrieved May 3, 2024.
  32. ↑ "Seagate Technology to Acquire Rest of Quinta Seagate". The New York Times. 3 July 1997. Retrieved 31 July 2019.
  33. ↑ Krause, Reinhardt (3 October 2018). "Palo Alto Networks Acquires Redlock To Boost Cloud Security". Investor's Business Daily. Retrieved 21 July 2019.
  34. ↑ Miller, Ron (December 30, 2019). "F5 acquires Shape Security for $1B". TechCrunch. San Francisco. Retrieved May 3, 2024.
  35. ↑ de la Merced, Michael J. (23 July 2013). "Cisco to Buy Sourcefire, a Cybersecurity Company, for $2.7 Billion". The New York Times. Retrieved 30 July 2019.
  36. ↑ De La Merced, Michael J. (23 July 2013). "Cisco to Buy Sourcefire, a Cybersecurity Company, for $2.7 Billion". The New York Times. Retrieved 21 July 2019.
  37. ↑ Kim, Eugene (29 May 2015). "Salesforce jumps on the artificial intelligence bandwagon with a surprise acquisition". Business Insider. Retrieved 31 July 2019.
  38. ↑ Turner, Giles; Lanxon, Nate (29 July 2019). "SoftBank-Owned ARM Is Said to Agree to Buy Treasure Data". Bloomberg News. Retrieved 21 July 2019.
  39. ↑ "NCR Completes Teradata Spin Off" (Press release). NCR. October 1, 2007. Archived from the original on October 18, 2007. Unknown parameter |url-status= ignored (help)
  40. ↑ "Teradata Corp". MarketWatch. Retrieved 6 September 2019.
  41. ↑ "Terayon Communication Systems (TERN) IPO". Nasdaq. Retrieved 27 July 2019.
  42. ↑ Miller, Ron (March 29, 2022). "Liberty Strategic Capital nabs majority stake in mobile security startup Zimperium for $525M". TechCrunch. San Francisco. Retrieved April 26, 2024.


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