True Ventures

True Ventures is a venture capital firm based in Palo Alto, California, founded in 2005. The firm specializes in early-stage technology investments, focusing on seed and Series A funding for startups across various sectors, including consumer internet, software, hardware, health, and emerging technologies. True Ventures manages over $2.8 billion in capital and has supported more than 300 companies, contributing to the creation of over 25,000 jobs globally. The firm's investment strategy typically involves contributions ranging from $0.25 million to $3 million, aiming for ownership stakes between 20 and 25 percent. True Ventures is recognized for its commitment to fostering entrepreneurship and providing a supportive environment for founders, emphasizing personal and professional growth through its True Platform. The firm has achieved notable exits, including investments in companies that have been acquired by major corporations or gone public.

Dave Balter

Venture Partner

Phil Black

Co-Founder

Jon Callaghan

Managing Partner

Caroline Ciaramitaro

Associate

Gus Coldebella

Partner

Tony Conrad

Partner

Ann Crady Weiss

Venture Partner

Sahiti Enjeti

Analyst

Amy Errett

Partner

Ulrike Kellmereit

CFO

Om Malik

Partner

Fiona McCarthy

Principal

Michael Montano

Venture Partner

John O'Connell

Senior Associate

Natasha Sharma

Principal

Rohit Sharma

Partner

Jim Stewart

COO

James Stewart

COO and Partner

Priscilla Tyler

Vice President

Ann Weiss

Partner

Ariel Winton

Principal

Past deals in Open Source

Manifest

Seed Round in 2023
Manifest is a cybersecurity firm dedicated to helping businesses secure their software supply chains. The company is developing an all-in-one Software Bill of Materials (SBOM) management platform that allows organizations to effectively manage their entire SBOM processes. By providing tools to view all third-party and open-source software libraries and dependencies across an enterprise, Manifest enables organizations to identify vulnerabilities and address issues within third-party software. This comprehensive approach aims to enhance the security and integrity of software supply chains for its clients.

Moderne

Series A in 2023
Developer of a code refactoring platform designed to make authoring custom source code transformations. The company's platform repairs security defects in code and infrastructure-as-code to improve visibility into the source code running on production infrastructure, as well as eliminates vulnerable patterns, helping clients to automatically fix, upgrade, and secure code.

Gradle Inc.

Series C in 2021
Gradle, Inc. is a developer of open-source build automation software that aims to transform the software development process. The Gradle Build Tool is widely recognized as the most popular build tool for open-source JVM projects, averaging over 19 million downloads monthly and being utilized by notable projects such as Spring Boot and JUnit. Gradle Enterprise complements this by providing a software build performance acceleration and analytics platform, designed to enhance productivity for software development teams. This self-hosted solution utilizes advanced acceleration technologies to reduce build times significantly and employs data analytics for efficient troubleshooting. Gradle Enterprise supports the discipline of Developer Productivity Engineering, enhancing the build and test processes within both Gradle and Maven environments. By unifying and automating build processes, Gradle, Inc. enables enterprises to improve their software delivery capabilities effectively.

Solo.io

Series C in 2021
Solo.io, Inc. is a developer of open-source and enterprise software aimed at assisting organizations in adopting and managing cloud-native technologies. Founded in 2017 and headquartered in Cambridge, Massachusetts, Solo.io offers a range of tools including Gloo, a cloud-native API gateway and ingress controller that facilitates secure traffic management across application services. The company's other offerings include Mesh Hub, a dashboard for managing service meshes, and WebAssembly tools for enhancing projects with Wasm extensions. Additionally, Solo.io provides Squash, a debugger for microservices, and Unik, a platform for building unikernels. Their solutions enable enterprises to connect traditional applications with modern microservices and service mesh architectures, allowing for gradual transformation without the need for extensive overhauls of legacy systems.

Moderne

Seed Round in 2021
Developer of a code refactoring platform designed to make authoring custom source code transformations. The company's platform repairs security defects in code and infrastructure-as-code to improve visibility into the source code running on production infrastructure, as well as eliminates vulnerable patterns, helping clients to automatically fix, upgrade, and secure code.

Solo.io

Series B in 2020
Solo.io, Inc. is a developer of open-source and enterprise software aimed at assisting organizations in adopting and managing cloud-native technologies. Founded in 2017 and headquartered in Cambridge, Massachusetts, Solo.io offers a range of tools including Gloo, a cloud-native API gateway and ingress controller that facilitates secure traffic management across application services. The company's other offerings include Mesh Hub, a dashboard for managing service meshes, and WebAssembly tools for enhancing projects with Wasm extensions. Additionally, Solo.io provides Squash, a debugger for microservices, and Unik, a platform for building unikernels. Their solutions enable enterprises to connect traditional applications with modern microservices and service mesh architectures, allowing for gradual transformation without the need for extensive overhauls of legacy systems.

HashiCorp

Series E in 2020
HashiCorp, Inc. is an open-source software company based in San Francisco, California, founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company develops multi-cloud infrastructure automation software that facilitates the provisioning, securing, connecting, and running of infrastructure for diverse applications. Key products include Terraform, which allows users to manage cloud infrastructure as code; Vault, a tool for securing sensitive data; Nomad, a workload orchestrator for deploying applications across multiple environments; and Consul, which supports service discovery and orchestration. HashiCorp also offers Vagrant for creating reproducible development environments and Packer for generating consistent machine images. The company’s solutions enable organizations to efficiently navigate cloud adoption challenges and standardize workflows across public and private cloud environments. HashiCorp serves both open-source and commercial markets, helping developers, operators, and security professionals manage distributed application infrastructure effectively.

Sofar Ocean

Series A in 2019
Sofar Ocean Technologies is a build accessible ocean sensing and exploration tools for ocean enthusiasts, industry, and conservation.

Solo.io

Series A in 2018
Solo.io, Inc. is a developer of open-source and enterprise software aimed at assisting organizations in adopting and managing cloud-native technologies. Founded in 2017 and headquartered in Cambridge, Massachusetts, Solo.io offers a range of tools including Gloo, a cloud-native API gateway and ingress controller that facilitates secure traffic management across application services. The company's other offerings include Mesh Hub, a dashboard for managing service meshes, and WebAssembly tools for enhancing projects with Wasm extensions. Additionally, Solo.io provides Squash, a debugger for microservices, and Unik, a platform for building unikernels. Their solutions enable enterprises to connect traditional applications with modern microservices and service mesh architectures, allowing for gradual transformation without the need for extensive overhauls of legacy systems.

Solo.io

Series A in 2018
Solo.io, Inc. is a developer of open-source and enterprise software aimed at assisting organizations in adopting and managing cloud-native technologies. Founded in 2017 and headquartered in Cambridge, Massachusetts, Solo.io offers a range of tools including Gloo, a cloud-native API gateway and ingress controller that facilitates secure traffic management across application services. The company's other offerings include Mesh Hub, a dashboard for managing service meshes, and WebAssembly tools for enhancing projects with Wasm extensions. Additionally, Solo.io provides Squash, a debugger for microservices, and Unik, a platform for building unikernels. Their solutions enable enterprises to connect traditional applications with modern microservices and service mesh architectures, allowing for gradual transformation without the need for extensive overhauls of legacy systems.

HashiCorp

Series D in 2018
HashiCorp, Inc. is an open-source software company based in San Francisco, California, founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company develops multi-cloud infrastructure automation software that facilitates the provisioning, securing, connecting, and running of infrastructure for diverse applications. Key products include Terraform, which allows users to manage cloud infrastructure as code; Vault, a tool for securing sensitive data; Nomad, a workload orchestrator for deploying applications across multiple environments; and Consul, which supports service discovery and orchestration. HashiCorp also offers Vagrant for creating reproducible development environments and Packer for generating consistent machine images. The company’s solutions enable organizations to efficiently navigate cloud adoption challenges and standardize workflows across public and private cloud environments. HashiCorp serves both open-source and commercial markets, helping developers, operators, and security professionals manage distributed application infrastructure effectively.

Gradle Inc.

Series B in 2018
Gradle, Inc. is a developer of open-source build automation software that aims to transform the software development process. The Gradle Build Tool is widely recognized as the most popular build tool for open-source JVM projects, averaging over 19 million downloads monthly and being utilized by notable projects such as Spring Boot and JUnit. Gradle Enterprise complements this by providing a software build performance acceleration and analytics platform, designed to enhance productivity for software development teams. This self-hosted solution utilizes advanced acceleration technologies to reduce build times significantly and employs data analytics for efficient troubleshooting. Gradle Enterprise supports the discipline of Developer Productivity Engineering, enhancing the build and test processes within both Gradle and Maven environments. By unifying and automating build processes, Gradle, Inc. enables enterprises to improve their software delivery capabilities effectively.

TruStory

Seed Round in 2018
TruStory is a social network that enables productive debate. To make progress on any issue, we need to learn from different perspectives, find common ground, and have the humility to change our minds. Our mission is to make the Internet more open-minded by incentivizing people to hear all sides of a debate.

OpenZeppelin

Venture Round in 2017
OpenZeppelin builds developer tools and performs security audits for distributed systems that power multimillion-dollar economies. At OpenZeppelin, we have built the world’s leading Open Source library for smart contract development. OpenZeppelin Contracts powers over 3,000 public projects, with over 7,000 stars on Github and maintained by a community of 180+ contributors. We also conduct security audits for the Ethereum Foundation, Coinbase, and other leading organizations in the space. With the success of our product, our security audits work, and our educational efforts, we have set industry standards for building secure systems in a fast-growing industry. We are now excited to offer a development platform that will help the growing number of developers working on top of decentralized protocols build the applications that will reach mass adoption.

HashiCorp

Series C in 2017
HashiCorp, Inc. is an open-source software company based in San Francisco, California, founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company develops multi-cloud infrastructure automation software that facilitates the provisioning, securing, connecting, and running of infrastructure for diverse applications. Key products include Terraform, which allows users to manage cloud infrastructure as code; Vault, a tool for securing sensitive data; Nomad, a workload orchestrator for deploying applications across multiple environments; and Consul, which supports service discovery and orchestration. HashiCorp also offers Vagrant for creating reproducible development environments and Packer for generating consistent machine images. The company’s solutions enable organizations to efficiently navigate cloud adoption challenges and standardize workflows across public and private cloud environments. HashiCorp serves both open-source and commercial markets, helping developers, operators, and security professionals manage distributed application infrastructure effectively.

HashiCorp

Series B in 2016
HashiCorp, Inc. is an open-source software company based in San Francisco, California, founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company develops multi-cloud infrastructure automation software that facilitates the provisioning, securing, connecting, and running of infrastructure for diverse applications. Key products include Terraform, which allows users to manage cloud infrastructure as code; Vault, a tool for securing sensitive data; Nomad, a workload orchestrator for deploying applications across multiple environments; and Consul, which supports service discovery and orchestration. HashiCorp also offers Vagrant for creating reproducible development environments and Packer for generating consistent machine images. The company’s solutions enable organizations to efficiently navigate cloud adoption challenges and standardize workflows across public and private cloud environments. HashiCorp serves both open-source and commercial markets, helping developers, operators, and security professionals manage distributed application infrastructure effectively.

Gradle Inc.

Series A in 2016
Gradle, Inc. is a developer of open-source build automation software that aims to transform the software development process. The Gradle Build Tool is widely recognized as the most popular build tool for open-source JVM projects, averaging over 19 million downloads monthly and being utilized by notable projects such as Spring Boot and JUnit. Gradle Enterprise complements this by providing a software build performance acceleration and analytics platform, designed to enhance productivity for software development teams. This self-hosted solution utilizes advanced acceleration technologies to reduce build times significantly and employs data analytics for efficient troubleshooting. Gradle Enterprise supports the discipline of Developer Productivity Engineering, enhancing the build and test processes within both Gradle and Maven environments. By unifying and automating build processes, Gradle, Inc. enables enterprises to improve their software delivery capabilities effectively.

Gradle Inc.

Seed Round in 2015
Gradle, Inc. is a developer of open-source build automation software that aims to transform the software development process. The Gradle Build Tool is widely recognized as the most popular build tool for open-source JVM projects, averaging over 19 million downloads monthly and being utilized by notable projects such as Spring Boot and JUnit. Gradle Enterprise complements this by providing a software build performance acceleration and analytics platform, designed to enhance productivity for software development teams. This self-hosted solution utilizes advanced acceleration technologies to reduce build times significantly and employs data analytics for efficient troubleshooting. Gradle Enterprise supports the discipline of Developer Productivity Engineering, enhancing the build and test processes within both Gradle and Maven environments. By unifying and automating build processes, Gradle, Inc. enables enterprises to improve their software delivery capabilities effectively.

Operable

Seed Round in 2015
Operable helps engineers respond to incidents, collaborate to fix them quickly, and learn from them.

High Fidelity

Venture Round in 2015
High Fidelity, Inc. is a company based in San Francisco, California, that specializes in designing and developing open-source software for shared virtual reality. Founded in 2013, it focuses on creating a virtual world where users can interact through avatars, utilizing sensor-equipped hardware contributed by end-users. The company's vision centers on leveraging the available hardware and internet infrastructure to provide global access to an interconnected Metaverse, offering diverse opportunities for creativity, education, exploration, and play. By enabling users to collaborate in a shared network, High Fidelity aims to simulate expansive virtual environments that surpass the capabilities of any single entity or centrally hosted system.

HashiCorp

Series A in 2014
HashiCorp, Inc. is an open-source software company based in San Francisco, California, founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company develops multi-cloud infrastructure automation software that facilitates the provisioning, securing, connecting, and running of infrastructure for diverse applications. Key products include Terraform, which allows users to manage cloud infrastructure as code; Vault, a tool for securing sensitive data; Nomad, a workload orchestrator for deploying applications across multiple environments; and Consul, which supports service discovery and orchestration. HashiCorp also offers Vagrant for creating reproducible development environments and Packer for generating consistent machine images. The company’s solutions enable organizations to efficiently navigate cloud adoption challenges and standardize workflows across public and private cloud environments. HashiCorp serves both open-source and commercial markets, helping developers, operators, and security professionals manage distributed application infrastructure effectively.

Opendoor

Series A in 2014
Opendoor operates an online real estate marketplace designed to simplify the home buying and selling process. Founded in 2014 and based in San Francisco, California, the platform allows sellers to receive offers without the need for listing or showing their homes, thereby eliminating the typical hassles associated with traditional sales. Buyers can browse available properties and gain instant access through the company's application, facilitating a seamless transaction experience. Opendoor generates revenue primarily from home sales, alongside additional income from various real estate services.

High Fidelity

Venture Round in 2014
High Fidelity, Inc. is a company based in San Francisco, California, that specializes in designing and developing open-source software for shared virtual reality. Founded in 2013, it focuses on creating a virtual world where users can interact through avatars, utilizing sensor-equipped hardware contributed by end-users. The company's vision centers on leveraging the available hardware and internet infrastructure to provide global access to an interconnected Metaverse, offering diverse opportunities for creativity, education, exploration, and play. By enabling users to collaborate in a shared network, High Fidelity aims to simulate expansive virtual environments that surpass the capabilities of any single entity or centrally hosted system.

Spree Commerce

Series A in 2014
Spree Commerce is an open-source e-commerce platform that was established in 2008 to support sellers by providing customizable and modular software solutions. The platform enables developers and store owners to tailor their online stores to meet specific requirements, facilitating everything from website themes to checkout and shipping processes. Spree Commerce has garnered a substantial international community, with nearly 500 developers contributing to its development, making it one of the leading open-source projects in the e-commerce sector. In 2013, the company introduced the Spree Commerce hub, which automates backend operations for various storefronts, not limited to those using the Spree platform. This flexibility allows it to serve a wide range of users, including some of the largest e-commerce retailers in the world.

Piston Cloud Computing

Series B in 2014
Piston Cloud Computing, Inc. specializes in providing Piston OpenStack, a software solution that automates the orchestration of private cloud environments on commodity servers. Founded in 2011 and headquartered in San Francisco, the company caters to organizations developing web, mobile, and big data applications, as well as financial services, medical research, service providers, and government agencies globally. Piston OpenStack enhances datacenter efficiency by managing multiple servers as a unified pool of elastic and scalable computing resources, thereby expediting the application development process. In addition to its software offerings, Piston provides planning, systems integration, operational design assistance, software update services, and tailored training for application developers and cloud operators. Piston Cloud Computing is recognized for its contributions to the OpenStack project and actively supports the OpenStack community. As of mid-2015, the company operates as a subsidiary of Cisco Systems, Inc.

OpenROV

Seed Round in 2013
OpenROV designs and manufactures low-cost robotic submarines that aim to democratize underwater exploration. Their products, including the OpenROV kit and the forthcoming OpenROV Trident, are capable of reaching depths of up to 100 meters, allowing users to access uncharted underwater environments. Equipped with remote control and cameras, these robots can capture images and videos of the seafloor, facilitating the creation of 3D models of various underwater areas. OpenROV's mission is to enhance the discovery of the ocean's least-explored regions and broaden participation in underwater research and exploration.

Orchestrate

Seed Round in 2013
Orchestrate offers a RESTful API service that simplifies database management for developers, allowing them to focus on building applications without the overhead of operating their own databases in production. Leveraging advanced NoSQL technologies, Orchestrate integrates various data retrieval methods, such as full-text search, social graphs, and time-ordered event queries, into a single interface. This comprehensive solution alleviates the operational and financial challenges associated with database deployment, enabling developers to efficiently create new applications and enhance existing ones. Orchestrate manages the complexities of constructing, operating, and scaling a robust and fault-tolerant data layer, streamlining the development process in the financial services industry and beyond.

High Fidelity

Seed Round in 2013
High Fidelity, Inc. is a company based in San Francisco, California, that specializes in designing and developing open-source software for shared virtual reality. Founded in 2013, it focuses on creating a virtual world where users can interact through avatars, utilizing sensor-equipped hardware contributed by end-users. The company's vision centers on leveraging the available hardware and internet infrastructure to provide global access to an interconnected Metaverse, offering diverse opportunities for creativity, education, exploration, and play. By enabling users to collaborate in a shared network, High Fidelity aims to simulate expansive virtual environments that surpass the capabilities of any single entity or centrally hosted system.

Piston Cloud Computing

Series B in 2013
Piston Cloud Computing, Inc. specializes in providing Piston OpenStack, a software solution that automates the orchestration of private cloud environments on commodity servers. Founded in 2011 and headquartered in San Francisco, the company caters to organizations developing web, mobile, and big data applications, as well as financial services, medical research, service providers, and government agencies globally. Piston OpenStack enhances datacenter efficiency by managing multiple servers as a unified pool of elastic and scalable computing resources, thereby expediting the application development process. In addition to its software offerings, Piston provides planning, systems integration, operational design assistance, software update services, and tailored training for application developers and cloud operators. Piston Cloud Computing is recognized for its contributions to the OpenStack project and actively supports the OpenStack community. As of mid-2015, the company operates as a subsidiary of Cisco Systems, Inc.

Spree Commerce

Seed Round in 2011
Spree Commerce is an open-source e-commerce platform that was established in 2008 to support sellers by providing customizable and modular software solutions. The platform enables developers and store owners to tailor their online stores to meet specific requirements, facilitating everything from website themes to checkout and shipping processes. Spree Commerce has garnered a substantial international community, with nearly 500 developers contributing to its development, making it one of the leading open-source projects in the e-commerce sector. In 2013, the company introduced the Spree Commerce hub, which automates backend operations for various storefronts, not limited to those using the Spree platform. This flexibility allows it to serve a wide range of users, including some of the largest e-commerce retailers in the world.

Piston Cloud Computing

Series A in 2011
Piston Cloud Computing, Inc. specializes in providing Piston OpenStack, a software solution that automates the orchestration of private cloud environments on commodity servers. Founded in 2011 and headquartered in San Francisco, the company caters to organizations developing web, mobile, and big data applications, as well as financial services, medical research, service providers, and government agencies globally. Piston OpenStack enhances datacenter efficiency by managing multiple servers as a unified pool of elastic and scalable computing resources, thereby expediting the application development process. In addition to its software offerings, Piston provides planning, systems integration, operational design assistance, software update services, and tailored training for application developers and cloud operators. Piston Cloud Computing is recognized for its contributions to the OpenStack project and actively supports the OpenStack community. As of mid-2015, the company operates as a subsidiary of Cisco Systems, Inc.

catchfree

Series A in 2011
CatchFree is an online platform designed to assist users in finding and comparing the best free solutions tailored to their specific needs. By systematically organizing feedback from active users, CatchFree provides valuable insights into the performance of various products, enabling informed decision-making. The platform focuses on simplifying the search process for effective online tools, making it easier for individuals and businesses to identify suitable options without incurring costs.

Adobe Fonts

Venture Round in 2010
Adobe Fonts allows subscribers to embed fonts into online documents and websites, as well as activate fonts on their desktop computers. It's a subscription-based service for linking to high-quality Open Type fonts from some of the worlds best type foundries. Their fonts are served from a global network on redundant servers, offering bulletproof service and incredible speed. Adobe Fonts is formerly Typekit, which was acquired by Adobe in 2011.

Adobe Fonts

Seed Round in 2009
Adobe Fonts allows subscribers to embed fonts into online documents and websites, as well as activate fonts on their desktop computers. It's a subscription-based service for linking to high-quality Open Type fonts from some of the worlds best type foundries. Their fonts are served from a global network on redundant servers, offering bulletproof service and incredible speed. Adobe Fonts is formerly Typekit, which was acquired by Adobe in 2011.
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