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CRV (venture capital firm)
[edit]CRV is a venture capital firm with two Bay Area offices focused on early-stage investments in technology.[1] The firm was founded in 1970 to commercialize research that came out of MIT. Its name comes from the Boston area Charles River.[2]
Investments
[edit]The firm has deployed nearly $5 billion to 500-plus companies since inception across 19 funds.[1]
| Company type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 1970 |
| Headquarters | Palo Alto, California, United States |
| Products | Investments |
| Total assets | number needed |
Number of employees | number needed |
| Website | www |
The 19th fund CRV raised consisted of two funds totaling $1.5 billion in capital.[1] CRV raised its 18th fund focused on early-stage startups during the coronavirus outbreak.[3] The 17th CRV fund totaled $600 million.[4]
The founders of Airtable, Postman and Vercel credit much of their success to the early funding and valuations from CRV.[1]
CRV’s investments in DoorDash during its seed, Series A and Series B financings returned multitudes of the CRV fund from which those checks came after DoorDash’s December 2020 IPO.[5][6]
In 2013, it purchased a large portion of Pebble Technology for 15 million dollars and is credited as the primary reason why Pebble was sold to Fitbit in December 2016. This netted CRV nearly 40 million dollars.[7]
Among CRV's portfolio companies are Airtable, Amgen, Aveksa,[8] Blippy, Cascade Communications, ChipCom, Ciena Corporation, ClassPass, Continental Cablevision, Crushpath, DoorDash, Drift, Fiksu, iBasis, Iterable[9], Kong[10], mabl,[11] Mercury[12], Netezza, OneLogin,[13] Parametric Technology Corporation, PillPack, Postman[14], Ring, SimpliVity, Sonus Networks, SpeechWorks, Stella,[15] Stratus Technologies, Sybase,[16] Twitter, Udacity, Vercel[1], Vignette Corporation, Yammer,[17] Zendesk.[18] and Zip[19].
References
[edit]- ^ a b c d e Sternlicht, Alexandra. "CRV is launching two funds worth $1.5 billion to back early-stage companies: 'Some of our best investments are actually made right after these downturns'". Fortune. Retrieved 2024-08-15.
- ^ Lynley, Matthew (2014-02-27). "How A Boston Venture Capital Firm Grew Into A Silicon Valley Powerhouse". BuzzFeed News. Retrieved 2024-08-15.
- ^ Clark, Kate. "Venture Firm CRV Announces $600 Million Fund, Raised Entirely Over Zoom".
- ^ Mack, Heather (11 May 2018). "CRV Closes $600 Million Fund".
- ^ Loizos, Connie (2020-12-10). "Early DoorDash investor Saar Gur makes the case for 10x growth from here". TechCrunch. Retrieved 2024-08-15.
- ^ Griffith, Erin (2020-12-09). "DoorDash Soars in First Day of Trading". The New York Times. ISSN 0362-4331. Retrieved 2024-08-15.
- ^ Orlowski, Andrew. "Who killed Pebble? Easy: The vulture capitalists". www.theregister.co.uk
- ^ McBride, Ryan. "Investors Back Growing Bay State Software Firms Aveksa and Apparent Networks in Pair of Series C Financings". xconomy. Retrieved 5 April 2013.
- ^ Zaveri, Paayal. "16 startups challenging Salesforce's core business that analysts think will soar this year". Business Insider. Retrieved 2024-08-15.
- ^ Lardinois, Frederic (2019-03-28). "Kong raises $43M Series C for its API platform". TechCrunch. Retrieved 2024-08-15.
- ^ Lardinois, Frederic (February 21, 2018). "With $10M in funding, Mabl brings machine learning to software testing". TechCrunch.
- ^ Lunden, Ingrid (2019-09-26). "Mercury banks $20M for its banking service aimed at startups". TechCrunch. Retrieved 2024-08-15.
- ^ Gage, Deborah (October 3, 2013). "OneLogin Picks Up $13 Million to Manage Online Corporate Identities". Wall Street Journal.
- ^ Singh, Manish (2019-06-19). "Postman raises $50 million to grow its API development platform". TechCrunch. Retrieved 2024-08-15.
- ^ "This week in N.Y.C. funding news: Ellevest, Ripple, KeyMe - New York Business Journal". Retrieved 2016-09-16.
- ^ Sybase President Gains The Confidence of Apple. The New York Times, August 25, 1987
- ^ Geron, Tomio. "Before $1.2 Billion Deal, Yammer Was Side Project: Largest Investor George Zachary". www.forbes.com.
- ^ Konrad, Alex. "Charles River Ventures Wins Big On Zendesk's IPO, But For Boston Venture It's Bittersweet". www.forbes.com.
- ^ Liu, Phoebe. "Procurement Startup Zip Announces $100 Million In New Funding At A $1.5 Billion Valuation". Forbes. Retrieved 2024-08-15.