|By Marketwired .||
|May 13, 2014 07:00 AM EDT||
PALO ALTO, CA -- (Marketwired) -- 05/13/14 -- Norwest Venture Partners (NVP), a global, multi-stage venture and growth equity investment firm, today announced the formation of its latest fund, Norwest Venture Partners XII, LP. The $1.2B fund targets early to late stage venture and growth equity investments across a wide range of sectors. The new fund, which brings NVP's total capital and commitments to approximately $5 billion, closes on the heels of a record year for NVP as more than 11 of the firm's portfolio companies experienced liquidity events in 2013.
NVP XII follows the firm's NVP XI, a $1.2 billion fund which the partnership began investing in 2010. Over the course of NVP XI, the firm celebrated its 50th anniversary, strengthened its leadership team with key managing partner appointments, announced its healthcare practice, added more than 40 investment, services and operations professionals to its staff and promoted 11 investment and portfolio services executives to partners/general partners. NVP has invested in nearly 550 companies since inception, and currently has over 120 active companies across its venture and growth equity portfolio.
"A key strategy for success at NVP is investment diversification. We invest across multiple sectors, stages and geographies, all with a team approach that enables our portfolio companies to tap into the breadth and depth of our expertise," said Promod Haque, senior managing partner at Norwest Venture Partners. "The closing of NVP XII will enable us to expand our focus in the enterprise IT, consumer Internet, healthcare, consumer products and services sectors and grow our presence in thriving entrepreneurial hubs. We look forward to working closely with passionate and talented entrepreneurs to build the next wave of successful companies."
NVP's 2013 exit success across its portfolio included significant initial public offerings and merger and acquisition activity. Of note, NVP was an early-stage investor in cyber security leader, FireEye (NASDAQ: FEYE), which celebrated one of the most successful initial public offerings in 2013. NVP was also a lead investor in the world's largest digital coupon destination, RetailMeNot (NASDAQ: SALE), which celebrated a successful initial public offering in July 2013. Other liquidity events last year included the acquisition of leading global managed and cloud-based network services company Virtela by NTT Communications for $525 million, the sale of fraud detection leader 41st Parameter to Experian for $324 million and the acquisition of storage management software company ScaleIO by EMC. The firm also witnessed the sale of low-power wireless semiconductor company Passif to Apple, the acquisition of cybersecurity company Morta Security by Palo Alto Networks, and the partial sale of NVP shares of India financial services company Shriram City Union Finance Ltd (NSE: SCUF).
NVP's liquidity momentum has continued in 2014 with the acquisition of music intelligence platform company The Echo Nest by Spotify, the initial public offering of leading technology provider to the global travel and tourism industry Sabre Corporation (NASDAQ: SABR), the sale of wearable device technologies company Basis to Intel, and the acquisition of personalized entertainment discovery solutions company Veveo by Rovi.
Active companies in NVP's portfolio span a wide variety of sectors and stages including such innovators as Adaptive Insights, Apigee, BlueJeans Network, CareCloud, Clarus Marketing Group, Gilt Groupe, Health Catalyst, Intersect ENT, Lending Club, Lumosity, MobileIron, Skybox Imaging, Spotify, Turn and Yatra.
In addition to growing its investment staff across various stages and sectors, NVP has expanded its internal portfolio services resources to further support its companies in the areas of marketing, business development, recruiting, human resources, domestic and international tax counsel and more.
"Because we invest out of one global fund, NVP partners are committed to each investment in the portfolio, regardless of the location or stage, and they all have a vested interest in making every NVP company successful," said Jeff Crowe, managing partner, NVP. "Furthermore, our ongoing commitment to serving as a value added business partner to our entrepreneurs has always been an important part of NVP's culture. Continuing to invest in our portfolio services team is a significant part of our strategy, and we'll continue to grow our staff in marketing, recruiting, HR, finance and other key areas to help our portfolio companies grow and thrive."
"We are experiencing another significant technology shift in the industry and it's an exciting time to be an investor," said Matthew Howard, managing partner, NVP. "The growing significance of such technologies as cloud, mobility, marketplaces and healthcare IT continue to create new venture and growth equity opportunities in an extremely promising investment climate. We are more excited than ever to continue partnering with leading entrepreneurs to build great businesses, and it's our philosophy to add value and fuel the growth of these companies in every way possible."
- Sectors: NVP invests in companies across a wide range of sectors including: technology (cloud & IT infrastructure, Internet & consumer, SaaS), business services, financial services, consumer products/services, and healthcare.
- Stages: NVP works with companies of all sizes and at all stages of investment from seed and Series A to late stage venture and growth equity.
- Geographies: NVP is a global venture and growth equity firm headquartered in Palo Alto, California, with subsidiaries in Mumbai and Bengaluru, India, and Herzelia, Israel.
About Norwest Venture Partners
Norwest Venture Partners (NVP) is a global, multi-stage venture and growth equity investment firm that has partnered with entrepreneurs to build great businesses for more than 50 years. The firm manages approximately $5 billion in capital and has funded more than 550 companies since inception. Headquartered in Palo Alto, Calif., NVP has subsidiaries in Mumbai and Bengaluru, India, and Herzelia, Israel. NVP makes early to late-stage venture and growth equity investments across a wide range of sectors including: technology, information services, business services, financial services, consumer products/services and healthcare. For more information visit: www.nvp.com. Follow NVP on Twitter @NorwestVP.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Jan. 20, 2017 01:00 PM EST Reads: 2,566
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Jan. 20, 2017 12:30 PM EST Reads: 4,340
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
Jan. 20, 2017 12:30 PM EST Reads: 1,630
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Jan. 20, 2017 12:30 PM EST Reads: 3,172
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
Jan. 20, 2017 12:15 PM EST Reads: 5,819
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
Jan. 20, 2017 11:30 AM EST Reads: 728
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Jan. 20, 2017 10:45 AM EST Reads: 6,075
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Jan. 20, 2017 10:45 AM EST Reads: 3,695
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 20, 2017 09:45 AM EST Reads: 5,506
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Jan. 20, 2017 09:45 AM EST Reads: 2,920
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
Jan. 20, 2017 09:15 AM EST Reads: 6,381
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these idea...
Jan. 20, 2017 08:30 AM EST Reads: 4,748
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 20, 2017 08:15 AM EST Reads: 4,713
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
Jan. 20, 2017 08:15 AM EST Reads: 4,938
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
Jan. 20, 2017 08:00 AM EST Reads: 4,277