
Menlo Park, CA - December 12, 2019 - During 2019, IVP announced six new investments, had five IPOs, and two significant M&A transactions. The firm reached a milestone of 113 portfolio company IPOs with CrowdStrike, Datadog, Oportun, Slack, and Uber entering the public markets. In addition, portfolio exit highlights include the acquisitions of Looker and Mindbody. Throughout the year, IVP's portfolio companies raised over $3 billion in follow-on financings.
With $7 billion in committed capital, IVP is currently investing IVP XVI, a $1.5 billion later-stage venture capital and growth equity fund. As an investor in innovative companies such as AppDynamics, Coinbase, Compass, CrowdStrike, Datadog, Dropbox, GitHub, Glossier, Grammarly, HashiCorp, LegalZoom, Mindbody, MuleSoft, Personal Capital, Rubrik, Slack, Snap, Supercell, Twitter, UiPath, and ZipRecruiter, IVP remains committed to its focused strategy of supporting innovation at the growth stage and partnering closely with exceptional management teams.
IPOs in 2019:
Oportun (OPRT), a mission-driven Community Development Financial Institution providing inclusive, affordable financial services, went public in September. IVP made its initial investment in February 2013. Oportun was the 113th company from IVP's portfolio to go public.
Datadog (DDOG), the monitoring and analytics platform for developers, IT operations teams, and business users in the cloud age, went public in September. IVP made its initial investment in March 2018.
Slack (WORK), a provider of a messaging platform for teams, went public via a direct listing in June. IVP made its initial investment in April 2015.
CrowdStrike (CRWD), a provider of cloud-native endpoint protection platform, went public in June, marking the biggest cybersecurity IPO of all time. IVP made its initial investment in June 2018.
Uber (UBER), one of the world's largest platforms for digital transportation within the sharing economy, went public in May. IVP made its initial investment in February 2015.
Significant M&A Exits in 2019:
Looker, a unified platform for business intelligence, data applications, and embedded analytics, announced the acquisition by Google for $2.6 billion in June. IVP made its initial investment in June 2017.
MINDBODY, the leading technology platform for the fitness, beauty, and wellness services industries, was taken private for $1.9 billion in February. MINDBODY debuted on the NASDAQ under the ticker symbol MB in June of 2015. IVP made its initial investment in October 2012.
New Investments Announced in 2019:
Attentive, a personalized mobile messaging SaaS platform for brands
Eightfold.ai, the creator of the first Talent Intelligence platform
Harness, the industry's first Continuous Delivery-as-a-Service platform
Nextdoor, the world's largest social network for the neighborhood
Niantic, the leader in mobile augmented reality experiences
Yellowbrick, a leader in next-generation enterprise data warehousing
Selected Follow-On Rounds in 2019:
Brex, the credit card built for scaling business, raised $100 million
Casper, the global sleep company, raised $100 million
Checkr, the provider of modern and compliant background checks, raised $160 million
Expanse, an Internet IT operations management platform, raised $70 million
Glossier, the community-driven, direct-to-consumer beauty company, raised $100 million
Grammarly, the company behind the AI-powered digital writing assistant, raised $90 million
KeepTruckin, the modern fleet management platform, raised $149 million
Klarna, the global disruptor of payments with smooth retail services, raised $460 million
Lime, a micromobility provider, raised $310 million
Rubrik, the Cloud Data Management company, raised $261 million
Sauce Labs, a provider of continuous testing cloud, raised $50 million
SoFi, a mobile-first personal finance company, raised $500 million
Sumo Logic, the continuous intelligence platform for DevSecOps, raised $110 million
Tala, the financial technology company in emerging markets, raised $110 million
UiPath, the Robotic Process Automation (RPA) software company, raised $568 million
Industry Recognition
In 2019, Jules Maltz and Dennis Phelps were named to the prestigious Forbes Midas List of 100 Best Venture Capitalists. Dennis has been on the Midas List four times before and Jules was on the Midas List for the second consecutive time. In conjunction with the Midas List, Forbes publishes a Brink List of investors who have not yet joined the Midas ranks but who have been making a name for themselves in the venture capital industry and we are excited to have Tom Loverro part of the 2019 class of Brink List investors.
In addition, Todd Chaffee, Somesh Dash, and Eric Liaw were named to The New York Times and CB Insights List of the Top 100 Venture Capitalists. Silicon India named Somesh Dash to the Top 20 Indian Venture Capitalists in U.S. List. Todd Chaffee and Jules Maltz were named to the Valuer Top 100 Venture Capitalists in the USA List. Also, Business Insider recognized Louisa Xu among the Venture Capital's 25 Rising Stars in Silicon Valley.
IVP has 20 investors 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
Throughout its history, IVP has helped hundreds of businesses scale and achieve long-term value. The IVP partnership works together closely with a consistent focus on later-stage investing.
IVP's success in 2019 coincided with several important promotions and new hires during the year. Tom Loverro was promoted to General Partner, recognizing his contributions to IVP and highlight
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