MENLO PARK, Calif.--(BUSINESS WIRE)--During 2017, IVP made 10 new investments and announced four significant M&A transactions: AppDynamics (Cisco), DoubleVerify (Providence Equity Partners), Cyence (Guidewire), and Shazam (Apple). In addition, three IVP companies went public: Snap (SNAP), MuleSoft (MULE), and Yext (YEXT). The firm has now had 106 IPOs. IVP also raised a new $1.5 billion fund and the firm’s portfolio companies raised over $1.8 billion in follow-on funding.
As an investor in innovative companies, such as AppDynamics, Casper, Coinbase, Compass, Domo, Dropbox, Glossier, The Honest Company, Mindbody, Rubrik, Slack, Snap, Supercell, Tanium, Twitter, and ZipRecruiter, IVP remains committed to its focused strategy of supporting innovation at the growth stage and partnering closely with exceptional management teams throughout the United States.
$1.5 Billion Later-Stage Venture Capital and Growth Equity Fund
In September, IVP announced the closing of IVP XVI, a $1.5 billion later-stage venture capital and growth equity fund. The new fund follows the recent success of IVP XV, a $1.4 billion fund formed in 2015. Similar to prior funds, IVP XVI was significantly oversubscribed. IVP XVI is the largest fund raised in the firm’s 37-year history and brings the firm’s cumulative committed capital to $7 billion.
IPOs in 2017:
- Snap (SNAP), a social media camera company with the mission to improve the way people live and communicate, went public in March. IVP led Snap’s Series B round in June 2013.
- MuleSoft (MULE), a leading platform for building application networks, went public in March. IVP made its initial investment in August 2016.
- Yext (YEXT), a provider of digital knowledge management solutions, went public in April. IVP made its initial investment in October 2009.
Significant M&A Exits in 2017:
- AppDynamics, a leader in application performance monitoring, was acquired by Cisco (CSCO) for $3.7 billion in January. IVP made its initial investment in January 2013.
- DoubleVerify, a leading provider of digital media quality authentication solutions for the world’s largest brands, was acquired by Providence Equity Partners in August. IVP made its initial investment in February 2010.
- Cyence, a leading provider of data science and risk analytics to quantify cyber risk, was acquired by Guidewire Software (GWRE) for $275 million in October. IVP made its initial investment in February 2016.
- Shazam, a mobile discovery company used by hundreds of millions of people each month to connect to the world around them, announced it had signed an agreement to be acquired by Apple (AAPL) in December. IVP made its initial investment in April 2011.
IVP Investments Announced in 2017:
- Amplitude, a leading product analytics company
- Coinbase, one of the world’s leading digital currency trading platforms
- Grammarly, a provider of AI-powered products helping people communicate more effectively
- MasterClass, the premier online education platform
- The Player’s Tribune, the first content platform created, curated, and controlled by athletes
- Qadium, the first automated global Internet intelligence company
- Rubrik, an advanced cloud data management company
- Tala, a leading finance mobile technology and data science company
- Thrive Global, a media company helping employees improve their well-being and performance
- TransferWise, the best way to send money abroad
Large Follow-On Rounds in 2017:
- Casper, a market leading e-commerce company, raised $170 million
- Compass, a technology-powered real estate company, raised $550 million
- Domo, a leading business intelligence platform, raised $100 million
- The Honest Company, a leading healthy lifestyle brand, raised a Series E growth financing
- Personal Capital, a leader in digital wealth management, raised $40 million
- Qubole, a data-as-a-service company, raised $25 million
- Slack, a provider of a messaging platform for teams, raised $250 million
- SoFi, a modern finance, lending, and wealth management platform, raised $500 million
- SoundCloud, the leading audio platform, raised a growth financing round
- Sumo Logic, the leading cloud-native, machine data analytics platform, raised $75 million
- Tanium, a leading endpoint security and systems management platform, raised $100 million
- TuneIn, the online radio company, raised $50 million
In 2017, two of IVP’s General Partners – Todd Chaffee and Dennis Phelps – were named to the prestigious Forbes Midas List of 100 Best Venture Capitalists. Todd has been on all the Midas Lists since 2009. Dennis has been on the Midas List twice before. Todd Chaffee and Sandy Miller were named to The New York Times and CB Insights List of the Top 100 Venture Capitalists for the second year in a row. Alexander Lim was named to the 2017 Forbes 30 Under 30 Venture Capital List.
IVP has eight partners and eight additional investment professionals focused on identifying later-stage growth companies in the consumer and enterprise sectors. IVP is one of the top performing firms in the venture capital industry, typically serving as a lead investor in later-stage rounds with equity investments ranging from $10 to $100 million.
Promotions and New Hires
IVP’s success in 2017 coincided with several important promotions and new hires during the year. Tom Loverro and Roseanne Wincek were promoted to Principals in recognition of their contributions to IVP and highlighting the firm’s continued momentum in strengthening its investment team. Kelly O’Kane returned to IVP as its first Vice President of Business Development. Parsa Saljoughian returned to IVP as a Vice President on the investment team. Chloe Breider and Jason Kong joined the firm as Associates.
With $7 billion of committed capital, IVP is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies, 106 of which have gone public. IVP is one of the top-performing firms in the industry and has a 36-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. IVP investments include such notable companies as AppDynamics (CSCO), Buddy Media (CRM), Casper, Coinbase, Compass, Datalogix (ORCL), Domo, Dropbox, Dropcam (GOOG), Fleetmatics (FLTX), GitHub, Glossier, HomeAway (AWAY), The Honest Company, Kayak (PCLN), Klarna, LegalZoom, LifeLock (LOCK), Marketo (MKTO), Mindbody (MB), MuleSoft (MULE), Netflix (NFLX), Omniture (ADBE), Pure Storage (PSTG), Rubrik, Slack, Snap (SNAP), SoFi, Supercell (SoftBank), Tanium, TransferWise, Twitter (TWTR), Yext (YEXT), ZenDesk (ZEN), ZipRecruiter, and Zynga (ZNGA). For more information, visit www.ivp.com or follow IVP on Twitter: @ivp.