Sierra Ventures

Last updated
Sierra Ventures
Company type Private
Industry Venture Capital
Founded1982;42 years ago (1982)
Headquarters
San Mateo, California
,
United States
Key people
Mark Fernandes, Managing Director
Tim Guleri, Managing Director
Ben Yu, Managing Director
Peter Wendell, Founder
Website www.sierraventures.com

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]

Contents

Sierra Ventures’ CXO Advisory Board, which is composed of more than seventy-five Fortune 1000 CIOs, CTOs, CMOs, and CISOs, 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. Saxena founded vendor management startup VNDLY and sold it to Workday for $510 million. [7]

Investments

As of 2024, Sierra Ventures had invested over $2 billion. [1] [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] [12]

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. [1] [13] [14]

Some notable past investments include:

Related Research Articles

<span class="mw-page-title-main">Cisco</span> American multinational technology company

Cisco Systems, Inc. is an American multinational digital communications technology conglomerate corporation headquartered in San Jose, California. Cisco develops, manufactures, and sells networking hardware, software, telecommunications equipment and other high-technology services and products. Cisco specializes in specific tech markets, such as the Internet of things (IoT), domain security, videoconferencing, and energy management with leading products including Webex, OpenDNS, Jabber, Duo Security, Silicon One, and Jasper.

Teradata Corporation is an American software company that provides cloud database and analytics-related software, products, and services. The company was formed in 1979 in Brentwood, California, as a collaboration between researchers at Caltech and Citibank's advanced technology group.

<span class="mw-page-title-main">Juniper Networks</span> American multinational technology company

Juniper Networks, Inc. is an American multinational corporation headquartered in Sunnyvale, California. The company develops and markets networking products, including routers, switches, network management software, network security products, and software-defined networking technology.

<span class="mw-page-title-main">Check Point</span> Israeli security company

Check Point Software Technologies Ltd. is an American-Israeli multinational provider of software and combined hardware and software products for IT security, including network security, endpoint security, cloud security, mobile security, data security and security management.

<span class="mw-page-title-main">Salesforce</span> American software company

Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, e-commerce, analytics, and application development.

<span class="mw-page-title-main">UST (company)</span> American technology company

UST, formerly known as UST GLOBAL, is a provider of digital technology and transformation, information technology and services, headquartered in Aliso Viejo, California, United States. Stephen Ross founded UST in 1998 in Laguna Hills. The company has offices in the Americas, EMEA, APAC, and India.

<span class="mw-page-title-main">TIBCO Software</span> American enterprise software company

TIBCO Software Inc. is a business unit of Cloud Software Group that provides enterprise software. It has headquarters in Palo Alto and offices in North America, Europe, Asia, the Middle East, Africa and South America.

<span class="mw-page-title-main">Sourcefire</span> American computer security company

Sourcefire, Inc was a technology company that developed network security hardware and software. The company's Firepower network security appliances were based on Snort, an open-source intrusion detection system (IDS). Sourcefire was acquired by Cisco for $2.7 billion in July 2013.

<span class="mw-page-title-main">Splunk</span> American technology company

Splunk Inc. is an American software company based in San Francisco, California, that produces software for searching, monitoring, and analyzing machine-generated data via a web-style interface. Its software helps capture, index and correlate real-time data in a searchable repository, from which it can generate graphs, reports, alerts, dashboards and visualizations.

<span class="mw-page-title-main">Digital Insight</span>

Digital Insight was a provider of online banking software to banks and credit unions. It also designed FinanceWorks, a product that allowed customers to manage their finances. In 2014, the company was acquired by and folded into NCR Corporation.

DAG Ventures is an American venture capital firm based in Palo Alto, California. DAG Ventures works with startups in providing early stage and growth stage funding. Since its founding in 2004, by Tom Goodrich and John Cadeddu, the firm has backed nearly 180 ventures, including Ambarella Inc., Armo Biosciences, Eventbrite, Fireeye, Glassdoor, Grubhub, Nextdoor, Wealthfront, Wix.com, Yelp, and Zettle.

<span class="mw-page-title-main">ServiceNow</span> American technology company

ServiceNow, Inc. is an American software company based in Santa Clara, California, that develops a cloud computing platform to help companies manage digital workflows for enterprise operations. Founded in 2003 by Fred Luddy, ServiceNow is listed on the New York Stock Exchange and is a constituent of the Russell 1000 Index and S&P 500 Index. In 2018, Forbes magazine named it number one on its list of the world's most innovative companies.

Twilio Inc. is an American cloud communications company based in San Francisco, California, which provides programmable communication tools for making and receiving phone calls, sending and receiving text messages, and performing other communication functions using its web service APIs.

BroadSoft, Inc. is a communication software and service provider that was acquired by Cisco Systems in 2018. BroadSoft was founded in 1998 and completed its initial public offering in 2010, and was headquartered in Maryland. It partners with carriers and large service providers in several countries. BroadSoft’s customers include AT&T, Verizon Communications, Sprint, Charter Communications, Comcast, and Vodafone. The company provides technology for service providers to build cloud-based communications services such as voice, video, web conferencing and team messaging and contextual services.

Lightspeed Commerce is a point-of-sale and e-commerce software provider based in Montreal, Quebec, Canada. It was founded in 2005 by Dax da Silva, who served as the CEO of the company until February 2, 2022. It has offices in Montreal, New York, Ottawa, Toronto, London, Belfast, Amsterdam, Berlin, Geneva, Ghent and Melbourne. It offers its services to retail, restaurant, and hospitality businesses.

Looker Data Sciences, Inc. is an American computer software company headquartered in Santa Cruz, California. It was acquired by Google in 2019 and is now part of the Google Cloud Platform. Looker markets a data exploration and discovery business intelligence platform.

<span class="mw-page-title-main">Tim Guleri</span>

Tim Guleri is an American venture capitalist and serial entrepreneur. He is the managing director of Sierra Ventures of San Mateo, California. Prior to joining Sierra Ventures, Guleri helped build Scopus Technology and founded Octane Software.

Monday.com Ltd. is a cloud-based platform that allows users to create their own applications and project management software. The product was launched in 2014 and in July 2019, the company raised $150 million, based on a $1.9 billion valuation. The company went public in June 2021 and is based in Tel Aviv, Israel.

References

  1. 1 2 3 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. 1 2 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. 1 2 3 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. 1 2 3 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. ↑ Schubarth, Cromwell (15 August 2013). "Q&A: Sierra VC Tim Guleri on his firm's CIO advantage". Silicon Valley Business Journal . Retrieved 15 July 2019.
  13. ↑ "The Daily Startup: Guardant Health Raises Nearly $100 Million Series D". The Wall Street Journal. 7 January 2016. Retrieved 15 July 2019.
  14. ↑ Temkin, Marina (21 March 2019). "Sierra Ventures seeks $175 mln for 12th flagship fund". Venture Capital Journal . Retrieved 15 July 2017.
  15. ↑ Shields, Mike (6 May 2014). "Google to Acquire Online Attribution Firm Adometry". The Wall Street Journal. Retrieved 30 July 2019.
  16. ↑ Shulman, Sophie (March 30, 2021). "Thoma Bravo acquires Applitools for $250 million". Calcalist. Tel Aviv. Retrieved April 26, 2024.
  17. ↑ Rusli, Evyln M. (27 July 2012). "Apple to Acquire AuthenTec for $365 Million". The New York Times. Retrieved 27 July 2019.
  18. ↑ McCormick, Jason (23 December 2014). "Big Data's Bina acquired by Big Pharma's Roche". Silicon Valley Business Journal. Retrieved 31 July 2019.
  19. ↑ 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.
  20. ↑ Fried, Ina (31 August 2005). "Microsoft completes FrontBridge acquisition". CNET. Retrieved 27 July 2019.
  21. ↑ Malik, Om (6 July 2010). "Big Data = Big Money: EMC Buys Greenplum". Gigaom. Retrieved 31 July 2019.
  22. ↑ Slud, Martha (20 May 1999). "Healtheon, WebMD to merge". CNN Money . Retrieved 21 July 2019.
  23. ↑ "Intuit Inc. History". Funding Universe. Retrieved 21 July 2019.
  24. ↑ Doe. "Intuitive Surgical Inc (ISRG) IPO". Nasdaq. Retrieved 30 July 2019.
  25. ↑ "Intuitive Surgical Inc". Bloomberg. Retrieved 30 July 2019.
  26. ↑ Fenner, Robert (21 December 2016). "TDK Agrees to Buy InvenSense for About $1.3 Billion in Cash". Bloomberg News. Retrieved 27 July 2019.
  27. ↑ Nadeem, Dania (October 22, 2021). "23andMe to buy telehealth firm Lemonaid for $400 mln". Reuters. Bengaluru. Retrieved May 3, 2024.
  28. ↑ Cowan, Lynn (12 August 2010). "MakeMyTrip, Up 89%, Has Best IPO Since 2007". The Wall Street Journal. Retrieved 31 July 2019.
  29. ↑ "IBM to Acquire Micromuse Inc". IBM. 21 December 2005. Retrieved 21 July 2019.
  30. ↑ "Qorvo acquires MEMS-based sensor solution provider NextInput". semiconductor-today.com. Semiconductor Today. May 7, 2021. Retrieved April 26, 2024.
  31. ↑ Spangler, Todd (11 December 2013). "Internet-Video Startup Ooyala Reels In $43 Mil from Australia's Telstra". Variety. Retrieved 27 July 2019.
  32. ↑ "Course Hero Acquires Iconic Study Platforms CliffsNotes and Quillbot". iblnews.org. IBL News. August 20, 2021. Retrieved May 3, 2024.
  33. ↑ "Seagate Technology to Acquire Rest of Quinta Seagate". The New York Times. 3 July 1997. Retrieved 31 July 2019.
  34. ↑ Krause, Reinhardt (3 October 2018). "Palo Alto Networks Acquires Redlock To Boost Cloud Security". Investor's Business Daily . Retrieved 21 July 2019.
  35. ↑ Miller, Ron (December 30, 2019). "F5 acquires Shape Security for $1B". TechCrunch. San Francisco. Retrieved May 3, 2024.
  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 30 July 2019.
  37. ↑ 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.
  38. ↑ Kim, Eugene (29 May 2015). "Salesforce jumps on the artificial intelligence bandwagon with a surprise acquisition". Business Insider. Retrieved 31 July 2019.
  39. ↑ Turner, Giles; Lanxon, Nate (29 July 2019). "SoftBank-Owned ARM Is Said to Agree to Buy Treasure Data". Bloomberg News . Retrieved 21 July 2019.
  40. ↑ "NCR Completes Teradata Spin Off" (Press release). NCR. October 1, 2007. Archived from the original on October 18, 2007.
  41. ↑ "Teradata Corp". MarketWatch . Retrieved 6 September 2019.
  42. ↑ "Terayon Communication Systems (TERN) IPO". Nasdaq. Retrieved 27 July 2019.
  43. ↑ 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.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.