Investment Criteria
Our portfolio is diversified across a myriad of growth industry sectors, with particular focus in enterprise software, digital media, healthcare IT, consumer e-commerce, and tech-enabled services. We look for the following characteristics in prospective company partners:
Healthy Revenue Profile
Consistent and growing revenues in excess of $5 million
Durable Competitive Advantage
Proprietary product or differentiated market niche
Professional Equity Sponsorship
Active and engaged equity sponsors supporting the business
Pathway to Profitability
Clear path to EBITDA breakeven within
18 to 24 months
Investment Portfolio
Akana
Realized
Tech-Enabled Service
Akana is a provider of software enabling enterprises to share data as application programming interface (API)s. The company offers API management, API security and micro-services including componentization, containerization, monitoring and analytics. Akana was acquired by Rogue Wave Software in November, 2016.
Headquarters
Minneapolis,
Minnesota
Altamira
Realized
Tech-Enabled Service
Altamira provides engineering, software development, and analytic services to the defense, intelligence, and homeland security communities. The Company's technology development focus includes mobility, cloud computing and big data, visualization, cyber, communications, and sensors.
Headquarters
McLean,
Virginia
Apogee
Arroweye
Aviacode
Balihoo
Realized
Tech-Enabled Service
Balihoo provides marketing automation technology and services to national brands with local marketing needs. The Company’s cloud-based technology platform incorporates a suite of solution modules allowing national brands to execute both digital and traditional local campaigns at scale.
Headquarters
Boise,
Idaho
Bradford Networks
Realized
Tech-Enabled Service
Bradford Networks is a developer of a network access control software designed to offer advanced network security services for wireless, cable and VPN networks. Bradford Networks was acquired by Fortinet (NAS: NTNT) in June, 2018.
Headquarters
Boston,
Massachusetts
Bridgevine
CallFire
Realized
Tech-Enabled Service
CallFire is a provider of cloud-based tools that enable businesses to communicate with their customers using voice and text. The Company's products offer automated broadcasting tools and interactive voice response systems, enabling clients to reduce customer attrition and increase sales
Headquarters
Los Angeles,
California
CatchCo
Active
Consumer Internet
CatchCo is an operator of a tackle discovery platform intended to serve fishing the industry. The Company's platform offers fishing tackle, bait, rods and reels and other products through an online marketplace and subscription-based tackle box every month, enabling customers to buy fishing gear and kits online.
Headquarters
Chicago,
Illinois
Central Logic
Core Security
Realized
Tech-Enabled Service
Core Security provides a suite of predictive security intelligence software solutions for large enterprises and government organizations. The Company’s security products correlate security data to help link security objectives with business objectives and provide actionable security intelligence.
Headquarters
Atlanta,
Georgia
Coronis Health
Realized
Healthcare IT
Coronis Health is a provider of revenue cycle management services for medical practices of any size. The Company's electronic medical record and practice management software enables physicians to automate their patient's records, scheduling, billing, and patient registration in a cost-effective manner.
Headquarters
Baltimore,
Maryland
Credit Sesame
Realized
Consumer Internet
Credit Sesame is a provider of a personal credit management platform. The Company's platform helps consumers analyze their loans, credit score, existing home mortgage, and credit card debt, and provides recommendations for refinancing and credit score improvement.
Headquarters
Mountain View,
California
Curse
Realized
Digital Media
Curse is a digital media publishing company that operates an online gaming portal for consumers. The Company provides a range of gaming services and tools, including interface add-ons, video game support software, and informational services.
Curse was acquired by Twitch Interactive, a subsidiary of Amazon (NASDAQ: AMZN) in August, 2016.
Headquarters
Huntsville,
Alabama
Daz3D
Realized
Digital Media
Daz3D is a provider of digital three-dimensional content and software services designed to offer professional quality 3D high render resolution stills and animations. The Company's content and software services offer online publishing programs, enabling artists to create art or animation.
Headquarters
Salt Lake City,
Utah
Echo360
Realized
Tech-Enabled Service
Echo360 provides a SaaS video and active learning platform solution for higher education and continuing education customers in the United States and abroad. The Company’s platform capabilities include recording and steaming, video management, learning and engagement tools and analytics.
Headquarters
Reston,
Virginia
Endgame
Realized
Tech-Enabled Service
Endgame is a developer of an endpoint security platform designed to provide early prevention from known and unknown threats, primarily for the US government. The Company delivers comprehensive Computer Network Operations (CNO) solutions that exponentially accelerate cyber mission planning and execution.
Headquarters
Arlington,
Virginia
Hillcrest Labs
Realized
Hillcrest Labs is a global supplier of software and hardware for motion-enabled products. The Company’s software algorithms translate human movement and data from sensors in consumer electronic devices into information for end-user applications. Hillcrest Labs was acquired by Ceva (NAS: CEVA) in July, 2019.
Headquarters
Rockville,
Maryland
InteliSecure
Liftopia
Active
Consumer Internet
Liftopia provides a cloud-based ecommerce platform that includes a complete online and mobile ski marketplace (Liftopia.com) and platform ecommerce technology (Cloud Store) to alpine ski resorts and summer activity operators to sell tickets online at optimized prices.
Headquarters
San Francisco,
California
Metromile
Active
Consumer Internet
Metromile provides price-per-mile (PPM) car insurance, charging customers for the actual miles they drive instead of the typical flat rate pricing offered by traditional car insurers. The Company's technology-enabled platform offers affordable car insurance rates intended primarily for low-mileage drivers, transparent pricing, detailed vehicle diagnostics, and automated claims processing services via the Company’s mobile application.
Headquarters
San Francisco,
California
NinthDecimal
Active
Tech-Enabled Service
NinthDecimal offers a suite of strategic marketing services powered by location data. The Company harnesses location data to build a precise understanding of consumers' physical world behavior, providing marquee brands access to unique customer intelligence through audience targeting, measurement, insights, and data licensing solutions.
Headquarters
San Francisco,
California
nLight
Realized
nLight is a vertically integrated designer and manufacturer of high-powered diode lasers and laser systems. nLight's products are used for various applications in the industrial, microelectronics, defense, and medical segments.
The Company went public (NASDAQ: LASR) in April, 2018.
Headquarters
Vancouver,
Washington
Numera
OneHope
Active
Consumer Internet
OneHope is a provider of social impact products and experiences intended to solve various social challenges. The Company sells wine, coffee and other products to raise awareness and funding for charitable organizations and social causes, enabling its customers to contribute to social causes.
Headquarters
Newport Beach,
California
OpenSlate
Active
Tech-Enabled Service
OpenSlate is a provider of video analytics and advertising data platform designed to provide contextual targeting and auditing solutions for major media buying companies. Brands use the Company’s data, tools, and analytics to generate targetable data about quality, brand safety, relevance and ad performance.
Headquarters
New York,
New York
Pathology, Inc.
Realized
Healthcare IT
Pathology offers a comprehensive suite of women's laboratory testing services with particular expertise in anatomic, molecular, clinical, and digital pathology services, as well as reproductive FDA donor testing and Clinical Trials. Pathology was acquired by Laboratory Corporation of America (NYSE: LH) in March, 2016.
Headquarters
Los Angeles,
California
PlumChoice
Realized
Tech-Enabled Service
PlumChoice is a technology-enabled services company that offers enhanced call center-based IT services to customers of large enterprises. The Company's services help to identify and resolve a client's customers' problems 24/7, and include an IT help desk, customer onboarding and migration, project services, and administrative services.
Headquarters
Lowell,
Massachusetts
Rocket Lawyer
Active
Consumer Internet
Rocket Lawyer is an online legal services technology platform that enables individuals and small business owners to address their legal matters in an affordable and simple manner. The Company’s platform provides several services including automated legal documents creation, incorporation services, and cost effective on-call attorney consultation.
Headquarters
San Francisco,
California
Scopely
Realized
Digital Media
Scopely develops and publishes mobile gaming applications. In addition to its portfolio of mobile games, the Company also offers other mobile application developers a platform for development, distribution, and monetization in the mobile application ecosystem.
Headquarters
Los Angeles,
California
Second Nature
Active
Consumer Internet
Second Nature is a provider of a web-based platform that offers a subscription HVAC air filter fulfillment service. The Company's platform guarantees that correct size HVAC air filters are conveniently delivered to a home or business’s doorstep and that filters are replaced on a regular basis, promoting cleaner, healthier air, reduced energy bills, and better maintained HVAC systems which reduces maintenance costs.
Headquarters
Raleigh,
North Carolina
ShareThis
Shopatron
Realized
Tech-Enabled Service
Shopatron is a provider of cloud-based electronic commerce order management services to manufacturers and multi-channel retailers. The Company allows manufacturers and multi-channel retailers to leverage the inventory of retail storefront and distribution center when fulfilling online orders. Shopatron was acquired by Kibo Software in January, 2016.
Headquarters
Dallas,
Texas
SiteSpect
Active
Tech-Enabled Service
SiteSpect is an optimization platform enabling web and mobile app marketers to improve conversion rates and engagement. The Company's suite of optimization services include multivariate testing, mobile site optimization, web analytics integration, segmentation and targeting tools.
Headquarters
Boston,
Massachusetts
Sittercity
Active
Consumer Internet
Sittercity is a provider of an online marketplace designed to offer in-home care services. The Company's online marketplace offers a web portal connecting families with local caregivers, including babysitters, nannies, special-needs sitters, care companies and pet sitters.
Headquarters
Chicago,
Illinois
Skyword
Realized
Tech-Enabled Service
Skyword provides a marketing platform that allows organizations to easily create and sustain content production. The Company offers advanced workflow management, reporting, and payment processing for original content production via the Company’s global network of freelance writers and videographers.
Headquarters
Boston,
Massachusetts
Snag
Realized
Consumer Internet
Snag is an operator of an online job searching portal. The Company's platform provides an end-to-end solution for talent workforce services, including a fast and easy way to search for jobs, and recruiting, training, scheduling, and performance management services for employers.
Headquarters
Richmond,
Virginia
Spectrum Media Services
Sportvision
Realized
Consumer Internet
Sportvision is a provider of live sports and events streaming. The Company offers video enhancement services, live sports telecasts and entertainment productions. Sportvision was acquired by SportsMEDIA Technology (SMT) in October, 2016.
Headquarters
San Francisco,
California
Tasting Table
Realized
Consumer Internet
Tasting Table is a digital media company that publishes premium food and drink culture content to a large audience of passionate, opt-in subscribers across the US. The Company's website and email newsletter report on food and drink trends in the categories of dining, wine, cocktails, cooking and food travel.
Headquarters
New York,
New York
Teachscape
Realized
Tech-Enabled Service
Teachscape is a provider of training programs for educators in the United States. The Company offers online graduate credit courses, video case studies, teachers degree programs, multimedia case-based learning resources, and graduate courses through its online learning platform. Teachscape was acquired by Frontline Education in January, 2016.
Headquarters
San Francisco,
California
theAudience
Realized
Tech-Enabled Service
theAudience is a provider of a social media distribution platform. The Company provides content for Twitter, Facebook and other social media outlets that helps brands to connect with online influencers and customers for targeted marketing campaigns.
Headquarters
Los Angeles,
California
Touch of Modern
Active
Consumer Internet
Touch of Modern is an online retail site created to provide shoppers with access to unique, one-of-a-kind luxury goods. The Company’s online marketplace is centered around a thoughtfully curated, discovery-based model that enables shoppers to find a wide variety of clothing, accessories, home goods, and tech products at a discounted price.
Headquarters
San Francisco,
California
Tradesy
Active
Consumer Internet
Tradesy operates an online peer-to-peer marketplace to resell women's fashion and apparel goods on the Company's website and mobile application, enabling users to buy and sell pre-owned designer fashion at significantly lower prices than purchasing new items from traditional retailers.
Headquarters
Los Angeles,
California
Updater
Active
Consumer Internet
Updater develops technology to improve the consumer relocation process in the U.S. The Company's web-based mover product helps to relocate consumers and organize and complete their moving-related logistics, partnering with companies in the real estate industry such as real estate agents and brokers, property managers, and moving companies to provide a co-branded and integrated moving experience for customers.
Headquarters
New York,
New York
Uproxx Media Group
Realized
Digital Media
Uproxx is a digital media company focused on publishing entertainment and news websites, authoritative editorial, and premium video content. Uproxx was acquired by Warner Music Group, a subsidiary of Access Industries, in August, 2018
Headquarters
Los Angeles,
California
Verisma Systems
Active
Healthcare IT
Verisma Systems is a provider of health information technology intended to provide release of information services. The Company's technology is focused on developing a release of information automation system that automates workflow to improve turnaround times, reduce errors, and drive down costs for automating medical records release.
Headquarters
Alexandria,
Virginia
Visible Technologies
Realized
Tech-Enabled Service
Visible Technologies provides social media monitoring, analytics, engagement, and social performance with dashboard solutions for the SMB and enterprise markets. The Company's SaaS business intelligence solution enables customers to identify, understand, and react to social media information. Visible Technologies was acquired by Vocus and Cision in September, 2014.
Headquarters
Seattle,
Washington
Whalerock Industries
Active
Digital Media
Whalerock is an independent media and technology company creating, producing, and distributing premium content and brands across the media landscape. The Company integrates the best practices and learnings of the technology and media worlds enabling it to build a scalable, innovative digital and production infrastructure to create captivating, next-generation media experiences.
Headquarters
Los Angeles,
California
Whistle Sports
Realized
Digital Media
Whistle Sports is a cross-platform sports media network specializing in the creation, curation, and distribution of highly engaging content, primarily targeted at the centennial and millennial demographics, across social, digital, and over-the-top platforms.
Headquarters
New York,
New York
WilsonHCG
Realized
Tech-Enabled Service
WilsonHCG is a provider of recruitment process outsourcing and human capital consulting services. The Company offers scalable and customizable human capital services across various industries including sales, technology, higher-education, and healthcare.
Headquarters
Tampa,
Florida
Winc
Active
Consumer Internet
Winc is a provider of an online personalized wine subscription service designed to revolutionize the way people discover, buy and share wine. The Company's service gives users access to quality, small-lot wines from around the world, enabling users to experience great wines at great prices that are conveniently delivered and personalized to their tastes.
Headquarters
Los Angeles,
California