Morgenthaler Ventures

Morgenthaler Ventures, established in 1968, is a prominent venture capital firm based in Portola Valley, California. The company invests in a broad range of sectors, including B2B, B2C, healthcare, information technology, SaaS, manufacturing, and life science. With a track record spanning over four decades, Morgenthaler Ventures has consistently invested through various market cycles, backing industry-leading companies such as Evernote, Lending Club, and Apple. The firm's strategy involves partnering with management teams to provide operational, strategic, and financial support, fostering long-term growth and shareholder value.

Robin Bellas

Partner / General Partner

Paul Brentlinger

Partner

Jason Lettmann

General Partner

Rebecca Lynn

General Partner

Joe Machado

Partner

David Morgenthaler

Founding Partner

Hank Plain

Partner

Graham Schena

Partner

Karen Tuleta

Partner

Matt Yohe

Partner

387 past transactions

Intermatic Incorporated

Acquisition in 2025
Intermatic incorporated develops and manufactures energy controls for commercial, industrial, government and residential applications.

Skb

Private Equity Round in 2025
Skb is a company that designs and manufactures molded polymer transport cases.

Allegheny Contracting

Private Equity Round in 2024
Allegheny Contracting is a pipeline and site work contractor that offers a full range of specialty construction and support services.

Moximed

Series D in 2024
Moximed, Inc. is a medical technology company based in Hayward, California, focused on developing innovative solutions for patients with knee osteoarthritis. The company offers the Atlas System, an implantable joint unloader designed to alleviate pain for individuals suffering from medial compartment knee osteoarthritis. This system operates similarly to a shock absorber, providing dynamic load reduction to minimize joint pain and enhance mobility. Moximed also features the MISHA Knee System, which offers an outpatient treatment option for patients who have not found relief through other therapies and are not suitable candidates for knee replacement surgery. By addressing the specific needs of osteoarthritis patients, Moximed aims to improve their quality of life while potentially delaying the need for more invasive surgical interventions. Founded in 2006, the company serves patients and medical professionals worldwide.

LA-CO Industries

Private Equity Round in 2024
LA-CO Industries is a chemical company that specializes in the manufacture of a diverse range of products, primarily focused on plumbing chemicals and industrial marking tools. The company produces markers for various applications, including livestock identification and industrial uses, as well as temperature indicators and welding supplies. In addition to these products, LA-CO Industries offers a variety of chemical products, inks, paints, and sterilization inks. Their extensive portfolio serves multiple sectors, emphasizing quality control and fabrication materials. Through its commitment to innovation and quality, LA-CO Industries supports a wide array of industries with essential chemical and marking solutions.

Webster Industries

Private Equity Round in 2024
Webster Industries is a leading manufacturer in the engineered class chain, sprockets, and vibrating equipment markets. The company specializes in producing high-quality chains intended for material handling and power transmission applications. Additionally, Webster Industries offers customized sprockets and vibratory equipment tailored to meet specific client needs. Their commitment to product excellence and evolving processes ensures that customers receive value-added solutions through empowered employees.

P&S Sales

Acquisition in 2024
Family owned distributors of detail products and auto body supplies. They also conduct coating certificate courses. They provides all types of car detailing, polishing and painting.

Mid-States Bolt & Screw

Private Equity Round in 2023
Mid-States Bolt & Screw is a distributor of standard & specialty fasteners, tools, and industrial hardware serving wholesalers & retailers.

Precision Pipeline

Private Equity Round in 2023
Precision Pipeline, LLC is a pipeline contracting firm that specializes in construction services for the gas and oil industry in the United States. The company offers a comprehensive range of services, which include transmission and gathering of pipelines, maintenance, integrity testing, hydrostatic testing, and horizontal directional drilling. Additionally, Precision Pipeline is involved in meter station construction and pipeline drying, ensuring it meets various operational requirements in the sector.

Flexpipe

Private Equity Round in 2023
Flexpipe is a manufacturer specializing in steel modular systems for lean manufacturing. The company produces a range of products, including coated steel pipes, joints, roller tracks, panels, fasteners, casters, and various related tools and accessories. By providing these components, Flexpipe aims to enhance productivity for its clients in commercial and industrial sectors.

Relievant Medsystems

Venture Round in 2023
Relievant Medsystems, Inc. is a medical device company focused on developing minimally invasive treatments for chronic axial low back pain. The company has created the Intracept procedure, which specifically targets the basivertebral nerve to alleviate chronic vertebrogenic low back pain. By delivering targeted energy into the spine, the Intracept System effectively blocks the transmission of pain signals, providing patients with a low-risk therapeutic option. Founded in 2004, Relievant is headquartered in Minneapolis, Minnesota, with additional operations in Sunnyvale, California.

SetPoint Medical

Venture Round in 2023
SetPoint Medical is a clinical-stage bioelectronic medicine company based in Valencia, California, focused on developing implantable neuromodulation devices aimed at treating chronic autoimmune diseases. The company is creating a platform that stimulates the vagus nerve to activate the body's natural inflammatory reflex, leading to a systemic immune-restorative effect. This innovative approach offers an alternative treatment option for conditions such as rheumatoid arthritis and inflammatory bowel disease, with the potential for reduced risks and costs compared to traditional drug therapies. SetPoint Medical, originally known as Innovative Metabolics Inc. until its name change in 2008, aims to provide patients and healthcare providers with effective solutions for managing debilitating inflammatory diseases.

Moximed

Series C in 2022
Moximed, Inc. is a medical technology company based in Hayward, California, focused on developing innovative solutions for patients with knee osteoarthritis. The company offers the Atlas System, an implantable joint unloader designed to alleviate pain for individuals suffering from medial compartment knee osteoarthritis. This system operates similarly to a shock absorber, providing dynamic load reduction to minimize joint pain and enhance mobility. Moximed also features the MISHA Knee System, which offers an outpatient treatment option for patients who have not found relief through other therapies and are not suitable candidates for knee replacement surgery. By addressing the specific needs of osteoarthritis patients, Moximed aims to improve their quality of life while potentially delaying the need for more invasive surgical interventions. Founded in 2006, the company serves patients and medical professionals worldwide.

3D International

Private Equity Round in 2022
3D International Sd. Bhd. is a company based in Kuala Lumpur, Malaysia, that specializes in the development of hardware and software for 3D image displays. Its focus on innovative solutions in 3D visualization positions it at the forefront of the technology sector in Malaysia. The company aims to enhance visual experiences through its advanced products, catering to various applications that require high-quality 3D imaging.

Terraflos

Seed Round in 2021
Terraflos is a pioneering biotechnology company focused on developing innovative and sustainable health solutions that integrate natural substances with advanced technology. The company specializes in crafting a diverse array of products, including supplements and food items, designed to promote wellness and vitality. By employing techniques such as cellular agriculture and precision fermentation, Terraflos maximizes the potential of plants and other natural resources. Their bioactive production platform enables the creation of premium products that enhance human well-being while prioritizing environmental sustainability. Through this integrated approach, Terraflos aims to provide effective health tools that respect nature and contribute positively to climate impact.

80/20

Private Equity Round in 2021
80/20 is a manufacturer and originator of modular aluminum T-slot building systems, catering to a range of industrial and end-market applications. The company specializes in T-slot aluminum profiles that feature channels designed for connecting various components, such as panels, linear bearings, and casters. Its products are engineered to address automation challenges, support robotic applications, and create machine frames and displays. 80/20 focuses on providing customizable and scalable solutions, enabling clients to develop tailored systems that adapt to evolving requirements over time.

MSHS Group

Acquisition in 2021
MSHS Group is a leading third-party MRO (maintenance, repair, and overhaul) services provider for marine and power generation applications.

SetPoint Medical

Venture Round in 2021
SetPoint Medical is a clinical-stage bioelectronic medicine company based in Valencia, California, focused on developing implantable neuromodulation devices aimed at treating chronic autoimmune diseases. The company is creating a platform that stimulates the vagus nerve to activate the body's natural inflammatory reflex, leading to a systemic immune-restorative effect. This innovative approach offers an alternative treatment option for conditions such as rheumatoid arthritis and inflammatory bowel disease, with the potential for reduced risks and costs compared to traditional drug therapies. SetPoint Medical, originally known as Innovative Metabolics Inc. until its name change in 2008, aims to provide patients and healthcare providers with effective solutions for managing debilitating inflammatory diseases.

Waterfront Brands

Venture Round in 2021
Waterfront Brands is a manufacturer based in Fergus Falls, Minnesota, specializing in a comprehensive range of boating products for both fresh and saltwater environments. The company offers an extensive lineup of premium brands, including aluminum docks, aluminum boat lifts, steel docks, steel boat lifts, and plastic floating docks. Additionally, Waterfront Brands produces roto-molding equipment and various waterfront accessories, catering to the needs of dealers and distributors across North America. Through its diverse product offerings, Waterfront Brands aims to provide quality solutions for waterfront equipment, ensuring a reliable experience for customers engaged in boating activities.

MSHS Group

Venture Round in 2021
MSHS Group is a leading third-party MRO (maintenance, repair, and overhaul) services provider for marine and power generation applications.

DecoArt

Venture Round in 2021
DecoArt is a manufacturer of paints and finishes that caters to consumers, decorative painters, and crafters. The company offers a wide range of acrylic colors designed for arts, crafts, and home decorating applications, ensuring that users have access to durable and affordable products. Their product line includes various items such as lamp paints, color wheel paint sets, and a variety of colors like cadmium orange and warm sunset. DecoArt also provides free shipping on orders of $50 or more, making it convenient for customers to purchase their supplies.

Ideal Aluminum

Venture Round in 2021
Ideal Aluminum specializes in designing and manufacturing premium aluminum fences, gates, railings, and related outdoor products for both residential and commercial applications. The company offers a diverse range of products, including cantilever, estate, and ornamental gates, as well as railings and louvers. Ideal Aluminum focuses on delivering durable and low-maintenance solutions, catering to clients who prioritize quality and longevity in their outdoor installations.

Relievant Medsystems

Venture Round in 2020
Relievant Medsystems, Inc. is a medical device company focused on developing minimally invasive treatments for chronic axial low back pain. The company has created the Intracept procedure, which specifically targets the basivertebral nerve to alleviate chronic vertebrogenic low back pain. By delivering targeted energy into the spine, the Intracept System effectively blocks the transmission of pain signals, providing patients with a low-risk therapeutic option. Founded in 2004, Relievant is headquartered in Minneapolis, Minnesota, with additional operations in Sunnyvale, California.

Teel Plastics

Acquisition in 2020
Teel Plastics, Inc. is a manufacturer of custom extruded plastic tubing and profiles, specializing in a wide range of applications. The company produces industrial plastic cores, medical tubing, and various plastic profiles for industries such as healthcare, food, automotive, and aerospace. Its product offerings include water softener tubes, IV set tubing, catheter packaging, and appliance profiles, among others. Teel Plastics also engages in the design and production of engineered components through extrusion and injection molding. Founded in 1951 and based in Baraboo, Wisconsin, the company was formerly known as Insemikit Company, Inc. before rebranding in 1958. Teel Plastics is committed to delivering high-quality products that meet the specific needs of its diverse client base, while also focusing on sustainable practices and workplace safety.

SetPoint Medical

Venture Round in 2019
SetPoint Medical is a clinical-stage bioelectronic medicine company based in Valencia, California, focused on developing implantable neuromodulation devices aimed at treating chronic autoimmune diseases. The company is creating a platform that stimulates the vagus nerve to activate the body's natural inflammatory reflex, leading to a systemic immune-restorative effect. This innovative approach offers an alternative treatment option for conditions such as rheumatoid arthritis and inflammatory bowel disease, with the potential for reduced risks and costs compared to traditional drug therapies. SetPoint Medical, originally known as Innovative Metabolics Inc. until its name change in 2008, aims to provide patients and healthcare providers with effective solutions for managing debilitating inflammatory diseases.

Garmat USA

Private Equity Round in 2019
Garmat USA specializes in the manufacturing of paint booths and finishing solutions tailored for various industries, including collision repair, aerospace, automotive, marine, and industrial applications. The company offers a diverse range of products, such as downdraft paint booths, modified paint booths, closed-top open-front booths, waterborne booths, and mixing stations. These solutions are designed to improve productivity and reduce operating costs for clients, making Garmat USA a key player in the spray paint booth and refinish equipment market.

Garmat USA

Acquisition in 2019
Garmat USA specializes in the manufacturing of paint booths and finishing solutions tailored for various industries, including collision repair, aerospace, automotive, marine, and industrial applications. The company offers a diverse range of products, such as downdraft paint booths, modified paint booths, closed-top open-front booths, waterborne booths, and mixing stations. These solutions are designed to improve productivity and reduce operating costs for clients, making Garmat USA a key player in the spray paint booth and refinish equipment market.

Cantrell

Acquisition in 2019
Cantrell is a manufacturer of equipment and systems for the poultry processing industry. Cantrell has earned a reputation for designing and delivering quality products and parts that meet the needs of the poultry processing industry. Among the products the company manufactures are evisceration and picking equipment, second processing equipment, wing segmenters, vacuum systems, and spare parts. Cantrell sells its products to leading poultry processors

Nuvaira

Series E in 2019
Nuvaira, Inc. is a medical device company focused on developing innovative treatments for obstructive lung diseases, particularly chronic obstructive pulmonary disease (COPD). The company has created a novel, catheter-based Lung Denervation System designed to address airway nerve hyperactivity, a common issue in patients with COPD and asthma. This minimally invasive procedure targets the parasympathetic nerves of the lungs, aiming to enhance lung function, improve exercise capacity, and elevate the quality of life for affected individuals. Founded in 2008 and headquartered in Minneapolis, Minnesota, Nuvaira was previously known as Holaira, Inc. before rebranding in June 2017.

NuoDB

Venture Round in 2018
NuoDB, Inc. specializes in developing a cloud-based relational database solution tailored for global applications. Its platform utilizes a memory-centric architecture that optimizes storage and replication, ensuring ACID consistency and transactional integrity across distributed databases located in multiple data centers worldwide. NuoDB's features include on-demand scalability, redundancy, policy-driven automation, and support for flexible schemas, making it suitable for various applications such as cloud migration, elastic scalability, and hybrid workloads. The database solution can be deployed on-premises, in containers, or across public, private, and hybrid clouds. NuoDB primarily serves industries such as mobile telecommunications, financial services, and interactive entertainment, along with application providers and independent software vendors. Founded in 2008 and headquartered in Cambridge, Massachusetts, NuoDB also has offices in Dublin, London, and Sofia. It operates as a subsidiary of Dassault Systèmes SE.

Vapotherm

Series D in 2018
Vapotherm, Inc. is a medical technology company specializing in the development and commercialization of proprietary Hi-VNI technology products designed to treat patients of all ages experiencing respiratory distress. Headquartered in Exeter, New Hampshire, the company offers a range of precision flow systems, including Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox, which deliver heated, humidified, and oxygenated air at high velocity through a small-bore nasal interface. Vapotherm also provides various companion products, such as the Vapotherm Transfer Unit for patient mobility, the Q50 compressor for compressed air, and aerosol solutions for medication delivery. Additionally, the company offers disposable products, including single-use nasal interfaces and Oxygen Assist Modules to help clinicians maintain target oxygen levels. Vapotherm generates revenue primarily through direct sales to hospitals in the United States and through distributors in select international markets. Founded in 1993, the company is committed to enhancing clinical outcomes and improving the quality of life for patients.

Olympic Ophthalmics

Series A in 2018
Olympic Ophthalmics is a medical device company based in Issaquah, Washington, focused on developing innovative treatments for dry eye disease (DED). Founded in 2017 by Michael Gertner, the company specializes in creating devices that stimulate the trigeminal parasympathetic pathway, thereby activating the glands responsible for tear film production. This approach enables healthcare professionals to effectively address the signs and symptoms of chronic dry eye in patients, contributing to improved ocular health.

Bettcher Industries

Private Equity Round in 2017
Bettcher Industries is an ISO 9001-certified manufacturing company established in 1944, known for its innovative equipment designed for the food processing, foodservice, industrial, and medical sectors. With over seventy years of experience, Bettcher Industries develops a wide range of products, including trimmers, weighing systems, food safety equipment, batter breading machines, pneumatic shears, electric gyro knives, and sharpening tools. These products enable food processing industries to efficiently transform raw materials into marketable food items while also providing solutions for industrial and medical applications that alleviate the discomfort associated with manual systems. The company serves a diverse global customer base, emphasizing quality and innovation in its manufacturing processes.

SetPoint Medical

Series D in 2017
SetPoint Medical is a clinical-stage bioelectronic medicine company based in Valencia, California, focused on developing implantable neuromodulation devices aimed at treating chronic autoimmune diseases. The company is creating a platform that stimulates the vagus nerve to activate the body's natural inflammatory reflex, leading to a systemic immune-restorative effect. This innovative approach offers an alternative treatment option for conditions such as rheumatoid arthritis and inflammatory bowel disease, with the potential for reduced risks and costs compared to traditional drug therapies. SetPoint Medical, originally known as Innovative Metabolics Inc. until its name change in 2008, aims to provide patients and healthcare providers with effective solutions for managing debilitating inflammatory diseases.

Safe Fuel Systems

Acquisition in 2017
Safe Fuel Systems is a certified repair facility recognized by both the FAA and EASA, specializing in the testing, repair, overhaul, and modification of fuel systems, hydraulics, and associated accessories. The company caters to a diverse clientele, including major domestic and international aircraft operators as well as military aviation. Safe Fuel Systems is committed to providing round-the-clock support, ensuring that clients receive timely and efficient repair services. By employing lean management techniques and optimized shop floor practices, the company aims to deliver high-quality repair solutions at reduced costs, meeting the operational needs of its customers effectively.

Big Switch Networks

Venture Round in 2017
Big Switch Networks Inc. specializes in data center networking technologies aimed at enhancing operational efficiency and agility for organizations worldwide. Founded in 2010 and headquartered in Santa Clara, California, the company offers a range of solutions including the Big Monitoring Fabric, which serves as a network packet broker for security chaining and visibility, and the Big Cloud Fabric, a software-defined networking solution compatible with various cloud environments such as VMware and OpenStack. These products facilitate improved networking capabilities in on-premises, public, and multi-cloud settings. Big Switch Networks has established partnerships with industry leaders like Dell EMC and HPE, and actively contributes to open-source networking communities. The company also has operations in Japan and maintains a presence in over 25 countries, reinforcing its commitment to providing innovative networking solutions.

DreamLine

Private Equity Round in 2017
DreamLine is a manufacturer and distributor of bathroom fixtures and accessories based in Warminster, Pennsylvania. The company specializes in producing shower doors, tub doors, shower enclosures, and acrylic shower bases. DreamLine offers a range of off-the-shelf and custom shower door solutions, characterized by sleek modern designs and competitive value. Their products allow customers to customize shower fittings to meet their specific needs, providing comprehensive bathroom solutions in the bath and shower marketplace. The company has garnered worldwide recognition for its innovative offerings and commitment to quality.

Vapotherm

Series D in 2017
Vapotherm, Inc. is a medical technology company specializing in the development and commercialization of proprietary Hi-VNI technology products designed to treat patients of all ages experiencing respiratory distress. Headquartered in Exeter, New Hampshire, the company offers a range of precision flow systems, including Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox, which deliver heated, humidified, and oxygenated air at high velocity through a small-bore nasal interface. Vapotherm also provides various companion products, such as the Vapotherm Transfer Unit for patient mobility, the Q50 compressor for compressed air, and aerosol solutions for medication delivery. Additionally, the company offers disposable products, including single-use nasal interfaces and Oxygen Assist Modules to help clinicians maintain target oxygen levels. Vapotherm generates revenue primarily through direct sales to hospitals in the United States and through distributors in select international markets. Founded in 1993, the company is committed to enhancing clinical outcomes and improving the quality of life for patients.

Moximed

Series C in 2017
Moximed, Inc. is a medical technology company based in Hayward, California, focused on developing innovative solutions for patients with knee osteoarthritis. The company offers the Atlas System, an implantable joint unloader designed to alleviate pain for individuals suffering from medial compartment knee osteoarthritis. This system operates similarly to a shock absorber, providing dynamic load reduction to minimize joint pain and enhance mobility. Moximed also features the MISHA Knee System, which offers an outpatient treatment option for patients who have not found relief through other therapies and are not suitable candidates for knee replacement surgery. By addressing the specific needs of osteoarthritis patients, Moximed aims to improve their quality of life while potentially delaying the need for more invasive surgical interventions. Founded in 2006, the company serves patients and medical professionals worldwide.

Relievant Medsystems

Series D in 2016
Relievant Medsystems, Inc. is a medical device company focused on developing minimally invasive treatments for chronic axial low back pain. The company has created the Intracept procedure, which specifically targets the basivertebral nerve to alleviate chronic vertebrogenic low back pain. By delivering targeted energy into the spine, the Intracept System effectively blocks the transmission of pain signals, providing patients with a low-risk therapeutic option. Founded in 2004, Relievant is headquartered in Minneapolis, Minnesota, with additional operations in Sunnyvale, California.

Miramar Labs

Venture Round in 2016
Miramar Labs is a company based in Sunnyvale, California, that specializes in developing medical devices for aesthetic purposes, particularly focusing on the treatment of primary axillary hyperhidrosis in adults. Founded in 2006, the company offers the miraDry System, which provides a non-invasive solution for excessive sweating and odor. This system employs microwave energy to selectively target and permanently eliminate sweat and odor glands in the underarm area. By addressing these concerns, Miramar Labs aims to enhance the confidence and quality of life for individuals suffering from this condition. However, the miraDry System is not designed to treat hyperhidrosis in other areas of the body, such as the hands and feet.

NuoDB

Series B in 2016
NuoDB, Inc. specializes in developing a cloud-based relational database solution tailored for global applications. Its platform utilizes a memory-centric architecture that optimizes storage and replication, ensuring ACID consistency and transactional integrity across distributed databases located in multiple data centers worldwide. NuoDB's features include on-demand scalability, redundancy, policy-driven automation, and support for flexible schemas, making it suitable for various applications such as cloud migration, elastic scalability, and hybrid workloads. The database solution can be deployed on-premises, in containers, or across public, private, and hybrid clouds. NuoDB primarily serves industries such as mobile telecommunications, financial services, and interactive entertainment, along with application providers and independent software vendors. Founded in 2008 and headquartered in Cambridge, Massachusetts, NuoDB also has offices in Dublin, London, and Sofia. It operates as a subsidiary of Dassault Systèmes SE.

Big Switch Networks

Series C in 2016
Big Switch Networks Inc. specializes in data center networking technologies aimed at enhancing operational efficiency and agility for organizations worldwide. Founded in 2010 and headquartered in Santa Clara, California, the company offers a range of solutions including the Big Monitoring Fabric, which serves as a network packet broker for security chaining and visibility, and the Big Cloud Fabric, a software-defined networking solution compatible with various cloud environments such as VMware and OpenStack. These products facilitate improved networking capabilities in on-premises, public, and multi-cloud settings. Big Switch Networks has established partnerships with industry leaders like Dell EMC and HPE, and actively contributes to open-source networking communities. The company also has operations in Japan and maintains a presence in over 25 countries, reinforcing its commitment to providing innovative networking solutions.

Vapotherm

Series C in 2015
Vapotherm, Inc. is a medical technology company specializing in the development and commercialization of proprietary Hi-VNI technology products designed to treat patients of all ages experiencing respiratory distress. Headquartered in Exeter, New Hampshire, the company offers a range of precision flow systems, including Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox, which deliver heated, humidified, and oxygenated air at high velocity through a small-bore nasal interface. Vapotherm also provides various companion products, such as the Vapotherm Transfer Unit for patient mobility, the Q50 compressor for compressed air, and aerosol solutions for medication delivery. Additionally, the company offers disposable products, including single-use nasal interfaces and Oxygen Assist Modules to help clinicians maintain target oxygen levels. Vapotherm generates revenue primarily through direct sales to hospitals in the United States and through distributors in select international markets. Founded in 1993, the company is committed to enhancing clinical outcomes and improving the quality of life for patients.

Elcelyx Therapeutics

Series E in 2015
Elcelyx Therapeutics, founded in 2010 and headquartered in San Diego, California, focuses on developing innovative treatments for diabetes and obesity-related metabolic disorders through its proprietary Gut Sensory Modulation (GSM) technology. The company's lead product candidate, NewMet, is designed to improve glucose metabolism by amplifying hormone release in the lower gut, thereby addressing significant unmet needs in the oral anti-diabetic market. Currently entering Phase 2b development, NewMet represents a potential breakthrough in diabetes management. Elcelyx also offers Lovidia, which targets similar metabolic issues without causing systemic side effects. The company is supported by a skilled management team, experienced investors, and a network of scientists and clinicians. In 2013, Elcelyx established NaZura BioHealth Inc. to focus on developing additional non-NewMet assets, further expanding its research and product pipeline.

Adara

Series C in 2015
Adara is a company that provides an online audience targeting platform to help brands enhance their competitive edge in the digital marketplace. By utilizing proprietary data and audience segmentation, Adara offers actionable insights that guide business planning and improve consumer engagement. The platform enables travel brands and advertisers to gain a comprehensive understanding of their audience by analyzing real customer data. This allows advertisers to tailor their offerings and effectively reach specific audiences based on their buying habits, ultimately facilitating more personalized marketing strategies.

SetPoint Medical

Series C in 2015
SetPoint Medical is a clinical-stage bioelectronic medicine company based in Valencia, California, focused on developing implantable neuromodulation devices aimed at treating chronic autoimmune diseases. The company is creating a platform that stimulates the vagus nerve to activate the body's natural inflammatory reflex, leading to a systemic immune-restorative effect. This innovative approach offers an alternative treatment option for conditions such as rheumatoid arthritis and inflammatory bowel disease, with the potential for reduced risks and costs compared to traditional drug therapies. SetPoint Medical, originally known as Innovative Metabolics Inc. until its name change in 2008, aims to provide patients and healthcare providers with effective solutions for managing debilitating inflammatory diseases.

Kona Medical

Debt Financing in 2015
Kona Medical, Inc. is a medical technology company founded in 2009 and based in Issaquah, Washington. It specializes in the development of a non-invasive ultrasound-based therapy system aimed at treating hypertension, particularly in patients with drug-resistant hypertension. The company's flagship product, Surround Sound, utilizes ultrasound imaging to precisely guide the application of focused ultrasound energy for renal denervation, targeting the nerves connected to the kidneys to help regulate blood pressure. By offering a less invasive alternative to traditional treatments, Kona Medical seeks to address the health risks associated with high blood pressure while improving patient outcomes through advanced therapeutic techniques.

Principia Biopharma

Series B in 2015
Principia Biopharma Inc. is a late-stage biopharmaceutical company based in South San Francisco, California, focused on developing innovative therapies for immune-mediated diseases. The company's lead candidate, rilzabrutinib, is an inhibitor currently undergoing Phase III clinical trials for pemphigus and pemphigus foliaceus, as well as Phase 1/2 and Phase 2 trials for immune thrombocytopenia and IgG4-related disease, respectively. Additionally, Principia is advancing PRN2246/SAR442168, aimed at treating multiple sclerosis and other central nervous system disorders, which is in Phase II trials. Another candidate, PRN473, is in Phase I trials for various immune-mediated diseases. Principia Biopharma collaborates with Genzyme Corporation to explore treatments for relapsing and progressive multiple sclerosis, enhancing its commitment to addressing significant unmet medical needs in immunology and oncology. Established in 2008, the company operates as a subsidiary of Sanofi.

Ra Pharmaceuticals

Series B in 2015
Ra Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on developing therapeutics for diseases associated with the overactivation of the complement system. Utilizing a peptide chemistry platform, the company creates synthetic macrocyclic peptides that combine the specificity of antibodies with the pharmacological advantages of small molecules. Its lead candidate, Zilucoplan, is an injectable treatment that has completed Phase II clinical trials for generalized myasthenia gravis and paroxysmal nocturnal hemoglobinuria, along with a Phase Ib trial for patients with renal impairment. Additionally, Ra Pharmaceuticals is advancing pre-clinical programs targeting Factor D inhibition for C3 glomerulonephritis and other complement factors for various diseases. The company has established a collaboration with Merck & Co., Inc. to explore orally available cyclic peptides for non-complement cardiovascular targets. Founded in 2008, Ra Pharmaceuticals operates as a subsidiary of UCB SA.

Vapotherm

Series C in 2015
Vapotherm, Inc. is a medical technology company specializing in the development and commercialization of proprietary Hi-VNI technology products designed to treat patients of all ages experiencing respiratory distress. Headquartered in Exeter, New Hampshire, the company offers a range of precision flow systems, including Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox, which deliver heated, humidified, and oxygenated air at high velocity through a small-bore nasal interface. Vapotherm also provides various companion products, such as the Vapotherm Transfer Unit for patient mobility, the Q50 compressor for compressed air, and aerosol solutions for medication delivery. Additionally, the company offers disposable products, including single-use nasal interfaces and Oxygen Assist Modules to help clinicians maintain target oxygen levels. Vapotherm generates revenue primarily through direct sales to hospitals in the United States and through distributors in select international markets. Founded in 1993, the company is committed to enhancing clinical outcomes and improving the quality of life for patients.

Galleon Pharmaceuticals

Series B in 2015
Galleon Pharmaceuticals, Inc. is a pharmaceutical company based in Horsham, Pennsylvania, founded in 2003. It specializes in discovering and developing treatments for sleep apnea and related breathing control disorders. The company has a portfolio of therapeutics, including GAL-021, a small molecule administered intravenously to support respiratory drive in surgical and critical care patients, and GLN-21,160, an oral candidate aimed at treating sleep apnea. Additionally, Galleon is developing GAL-044, a small molecule designed to prevent surgical pain. The company's focus extends to addressing conditions such as ventilator weaning, anesthetic-induced respiratory depression, chronic obstructive pulmonary disease (COPD), and obesity-hypoventilation syndrome, with the goal of improving respiratory health for patients.

MuleSoft

Series G in 2015
MuleSoft is a San Francisco-based company that provides a software platform, Anypoint Platform, enabling organizations to connect their applications, data, and devices seamlessly using APIs (Application Programming Interfaces). Founded in 2006, MuleSoft's platform allows customers to compose applications using reusable building blocks or nodes, facilitating connections between SaaS applications, on-premises systems, cloud deployments, mobile devices, and data sources. The company operates as a subsidiary of Salesforce.com since 2018 and has strategic alliances with other businesses like IQVIA.

Moximed

Series B in 2015
Moximed, Inc. is a medical technology company based in Hayward, California, focused on developing innovative solutions for patients with knee osteoarthritis. The company offers the Atlas System, an implantable joint unloader designed to alleviate pain for individuals suffering from medial compartment knee osteoarthritis. This system operates similarly to a shock absorber, providing dynamic load reduction to minimize joint pain and enhance mobility. Moximed also features the MISHA Knee System, which offers an outpatient treatment option for patients who have not found relief through other therapies and are not suitable candidates for knee replacement surgery. By addressing the specific needs of osteoarthritis patients, Moximed aims to improve their quality of life while potentially delaying the need for more invasive surgical interventions. Founded in 2006, the company serves patients and medical professionals worldwide.

Twelve

Series C in 2015
Twelve manufactures medical devices. It was formerly known as Foundry Newco XII, Inc. The company was incorporated in 2009 and is based in Menlo Park, California.

NuoDB

Series B in 2015
NuoDB, Inc. specializes in developing a cloud-based relational database solution tailored for global applications. Its platform utilizes a memory-centric architecture that optimizes storage and replication, ensuring ACID consistency and transactional integrity across distributed databases located in multiple data centers worldwide. NuoDB's features include on-demand scalability, redundancy, policy-driven automation, and support for flexible schemas, making it suitable for various applications such as cloud migration, elastic scalability, and hybrid workloads. The database solution can be deployed on-premises, in containers, or across public, private, and hybrid clouds. NuoDB primarily serves industries such as mobile telecommunications, financial services, and interactive entertainment, along with application providers and independent software vendors. Founded in 2008 and headquartered in Cambridge, Massachusetts, NuoDB also has offices in Dublin, London, and Sofia. It operates as a subsidiary of Dassault Systèmes SE.

dlhBOWLES

Acquisition in 2014
dlhBOWLES is a manufacturer and supplier specializing in automotive fluid management and systems components. The company designs, develops, and produces a range of products, including plastic air and fluid handling assemblies, tubing, hoses, and profile extrusions. Their offerings encompass injection molded thermoplastic parts, washer systems, camera and sensor cleaning products, as well as solutions for powertrain, chassis, and electric vehicle thermal management. Founded in 1975 and based in Canton, Ohio, dlhBOWLES has established itself as a reliable supplier to leading automakers, with a track record of over a quarter of a billion components deployed in the field. The company is committed to delivering high-quality, cost-effective solutions and has expanded its capabilities over more than fifty years to meet diverse needs across automotive, industrial, and consumer applications. Operating as a subsidiary of Bowles Fluidics Corporation, dlhBOWLES continues to innovate in fluid management technology and maintain a strong presence in the global market.

Sunlight Aerospace

Venture Round in 2014
Sunlight Aerospace develops airborne wireless communication systems to provide broadband and internet services. The company focuses on creating Sunfleets, which consist of solar-powered unmanned aerial vehicles (UAVs) that feature advanced airframe designs, lightweight photovoltaic systems, and formation flight control technologies. These UAVs are engineered for high-altitude, long-endurance missions, serving as platforms for innovative airborne wireless communication networks. Sunlight Aerospace is committed to addressing the demand for solar and hybrid-powered UAVs that excel in endurance and performance, facilitating the integration of flight control, power management, and communication capabilities powered by solar energy.

Socrata

Series C in 2014
Socrata, Inc. specializes in cloud-based software solutions tailored for federal, state, and local government entities, focusing on transforming data into actionable insights. The company offers a suite of services, including Open Data, which facilitates interaction with government data through visualizations and sharing; Open Performance, which aids in performance management; and Perspectives, allowing data owners to visualize and enhance their data. Additionally, Socrata provides tools like CrimeReports for law enforcement, Open Budget for exploring government budgets, Open Expenditures for transparency in spending, and Open Payroll to clarify government personnel expenses. By integrating disparate data systems on its data-as-a-service platform, Socrata enhances government program effectiveness, improves citizen engagement, and promotes accountability. Founded in 2007 and based in Seattle, Washington, Socrata operates as a subsidiary of Tyler Technologies, Inc. and is recognized for adhering to stringent government standards, having earned Federal Risk and Authorization Management Program (FedRAMP) Authority to Operate (ATO).

Miramar Labs

Series D in 2014
Miramar Labs is a company based in Sunnyvale, California, that specializes in developing medical devices for aesthetic purposes, particularly focusing on the treatment of primary axillary hyperhidrosis in adults. Founded in 2006, the company offers the miraDry System, which provides a non-invasive solution for excessive sweating and odor. This system employs microwave energy to selectively target and permanently eliminate sweat and odor glands in the underarm area. By addressing these concerns, Miramar Labs aims to enhance the confidence and quality of life for individuals suffering from this condition. However, the miraDry System is not designed to treat hyperhidrosis in other areas of the body, such as the hands and feet.

Ivantis

Series B in 2014
Ivantis Inc. is a medical device company based in Irvine, California, focused on developing innovative treatments for primary open-angle glaucoma. Founded in 2007, the company specializes in a minimally invasive intracanalicular scaffold that alleviates high intraocular pressure by restoring the natural outflow pathway in Schlemm's canal. This device aims to provide a less invasive and more effective solution for the over 60 million individuals worldwide affected by this condition. In addition to its primary focus on glaucoma, Ivantis intends to explore innovative treatments for other ophthalmic diseases as it expands its product offerings. The company also provides a Session Persistence Server to support clinical trials, ensuring data protection for telnet task workers and terminal emulation users across various devices and operating systems.

Principia Biopharma

Series B in 2014
Principia Biopharma Inc. is a late-stage biopharmaceutical company based in South San Francisco, California, focused on developing innovative therapies for immune-mediated diseases. The company's lead candidate, rilzabrutinib, is an inhibitor currently undergoing Phase III clinical trials for pemphigus and pemphigus foliaceus, as well as Phase 1/2 and Phase 2 trials for immune thrombocytopenia and IgG4-related disease, respectively. Additionally, Principia is advancing PRN2246/SAR442168, aimed at treating multiple sclerosis and other central nervous system disorders, which is in Phase II trials. Another candidate, PRN473, is in Phase I trials for various immune-mediated diseases. Principia Biopharma collaborates with Genzyme Corporation to explore treatments for relapsing and progressive multiple sclerosis, enhancing its commitment to addressing significant unmet medical needs in immunology and oncology. Established in 2008, the company operates as a subsidiary of Sanofi.

ForSight VISION5

Series C in 2014
ForSight VISION5, founded in 2010 as part of ForSight Labs, specializes in developing innovative drug delivery technologies aimed at treating various eye conditions. The company focuses on creating non-invasive products designed to replace traditional eye drops, offering sustained therapy for significant eye diseases such as glaucoma, dry eye, and allergies. Currently, ForSight VISION5 is in its second Phase 2 clinical study for its lead product, the Helios insert, which represents a significant advancement in ocular treatment options.

ForSight Labs

Series C in 2014
ForSight Labs is dedicated to developing innovative ophthalmic technologies aimed at enhancing the sight and quality of life for visually impaired patients. The organization collaborates with entrepreneurs, investors, and clinicians to drive advancements in eye care through the creation and commercialization of high-impact solutions. With millions of individuals in the U.S. suffering from vision impairment and the associated economic burden exceeding $50 billion annually, ForSight Labs addresses a significant public health challenge. Their focus includes developing treatments for conditions such as glaucoma, which can lead to irreversible blindness in adults. By fostering a creative and cooperative environment, ForSight Labs strives to deliver effective solutions to the ophthalmic community and the patients it serves.

Vapotherm

Series B in 2014
Vapotherm, Inc. is a medical technology company specializing in the development and commercialization of proprietary Hi-VNI technology products designed to treat patients of all ages experiencing respiratory distress. Headquartered in Exeter, New Hampshire, the company offers a range of precision flow systems, including Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox, which deliver heated, humidified, and oxygenated air at high velocity through a small-bore nasal interface. Vapotherm also provides various companion products, such as the Vapotherm Transfer Unit for patient mobility, the Q50 compressor for compressed air, and aerosol solutions for medication delivery. Additionally, the company offers disposable products, including single-use nasal interfaces and Oxygen Assist Modules to help clinicians maintain target oxygen levels. Vapotherm generates revenue primarily through direct sales to hospitals in the United States and through distributors in select international markets. Founded in 1993, the company is committed to enhancing clinical outcomes and improving the quality of life for patients.

Nuvaira

Series D in 2014
Nuvaira, Inc. is a medical device company focused on developing innovative treatments for obstructive lung diseases, particularly chronic obstructive pulmonary disease (COPD). The company has created a novel, catheter-based Lung Denervation System designed to address airway nerve hyperactivity, a common issue in patients with COPD and asthma. This minimally invasive procedure targets the parasympathetic nerves of the lungs, aiming to enhance lung function, improve exercise capacity, and elevate the quality of life for affected individuals. Founded in 2008 and headquartered in Minneapolis, Minnesota, Nuvaira was previously known as Holaira, Inc. before rebranding in June 2017.

MuleSoft

Series F in 2014
MuleSoft is a San Francisco-based company that provides a software platform, Anypoint Platform, enabling organizations to connect their applications, data, and devices seamlessly using APIs (Application Programming Interfaces). Founded in 2006, MuleSoft's platform allows customers to compose applications using reusable building blocks or nodes, facilitating connections between SaaS applications, on-premises systems, cloud deployments, mobile devices, and data sources. The company operates as a subsidiary of Salesforce.com since 2018 and has strategic alliances with other businesses like IQVIA.

NuoDB

Series B in 2014
NuoDB, Inc. specializes in developing a cloud-based relational database solution tailored for global applications. Its platform utilizes a memory-centric architecture that optimizes storage and replication, ensuring ACID consistency and transactional integrity across distributed databases located in multiple data centers worldwide. NuoDB's features include on-demand scalability, redundancy, policy-driven automation, and support for flexible schemas, making it suitable for various applications such as cloud migration, elastic scalability, and hybrid workloads. The database solution can be deployed on-premises, in containers, or across public, private, and hybrid clouds. NuoDB primarily serves industries such as mobile telecommunications, financial services, and interactive entertainment, along with application providers and independent software vendors. Founded in 2008 and headquartered in Cambridge, Massachusetts, NuoDB also has offices in Dublin, London, and Sofia. It operates as a subsidiary of Dassault Systèmes SE.

Elcelyx Therapeutics

Series C in 2014
Elcelyx Therapeutics, founded in 2010 and headquartered in San Diego, California, focuses on developing innovative treatments for diabetes and obesity-related metabolic disorders through its proprietary Gut Sensory Modulation (GSM) technology. The company's lead product candidate, NewMet, is designed to improve glucose metabolism by amplifying hormone release in the lower gut, thereby addressing significant unmet needs in the oral anti-diabetic market. Currently entering Phase 2b development, NewMet represents a potential breakthrough in diabetes management. Elcelyx also offers Lovidia, which targets similar metabolic issues without causing systemic side effects. The company is supported by a skilled management team, experienced investors, and a network of scientists and clinicians. In 2013, Elcelyx established NaZura BioHealth Inc. to focus on developing additional non-NewMet assets, further expanding its research and product pipeline.

HealthLoop

Series A in 2013
HealthLoop, Inc. operates a software-as-a-service platform that supports medical practices in monitoring patient recovery through ongoing communication and symptom tracking. Founded in 2009 and based in Moffett Field, California, the platform enables healthcare providers to identify patients at risk of decline during the follow-up period. By collecting patient feedback and comparing their recovery status against expected progress, HealthLoop facilitates timely alerts to physicians regarding potential treatment failures, complications, or hospital readmissions. The company primarily serves medical offices across the United States, aiming to enhance patient engagement and improve overall care coordination.

Calithera Biosciences

Series D in 2013
Calithera Biosciences is a clinical-stage biopharmaceutical company based in South San Francisco, California, dedicated to discovering and developing small molecule drugs targeting tumor metabolism and immunology for cancer treatment. The company's lead candidate, CB-839, is a glutaminase inhibitor currently in Phase II clinical trials aimed at treating solid tumors. Additionally, Calithera is advancing INCB001158, an oral arginase inhibitor in Phase I/II trials for hematology and oncology. Other notable projects include CB-280, intended for cystic fibrosis treatment, and CB-708, an inhibitor of CD73. The company has established collaborations, including a license agreement with Mars, Inc. for the development of arginase inhibitors and a clinical trial partnership with Bristol-Myers Squibb to evaluate nivolumab in combination with CB-839. Founded in 2010, Calithera is focused on building a pipeline of innovative cancer therapeutics that address critical pathways necessary for tumor growth and survival.

PeopleMatter

Series E in 2013
PeopleMatter, Inc. is a workforce management platform that specializes in talent management software tools aimed at enhancing the performance of service-industry brands. Founded in 2001 and based in Charleston, South Carolina, the company develops solutions tailored for various sectors, including technology, transportation, healthcare, government, biotech, and recreation. The platform focuses on improving the hiring process for hourly workers by simplifying sourcing, screening, and onboarding, thereby increasing efficiency and engagement for both employers and employees. PeopleMatter was acquired by Snagajob in June 2016, positioning it to further enhance its offerings in the realm of hourly workforce management.

Practice Fusion

Series D in 2013
Practice Fusion, Inc. is a cloud-based electronic health records (EHR) company based in San Francisco, California, founded in 2005. The company specializes in providing a comprehensive practice management software platform that facilitates various healthcare functions, including charting, scheduling, billing, e-prescribing, lab integrations, and secure messaging. By connecting doctors, patients, and data, Practice Fusion aims to enhance healthcare delivery and improve patient outcomes. Its platform serves a diverse range of users, including independent medical practices, large medical groups, and community clinics, as well as life science partners. Additionally, Practice Fusion Insight offers a healthcare database to support medical professionals in their practice. As of February 2018, Practice Fusion operates as a subsidiary of Allscripts Healthcare Solutions, Inc.

Convo

Series A in 2013
Convo is an enterprise social collaboration platform that facilitates secure communication between desk and non-desk workers, aiming to enhance productivity and engagement within organizations. The platform distinguishes itself from traditional email and chat-based solutions by merging the simplicity of social networks with comprehensive collaboration features, allowing for streamlined work interactions without the need for email. Convo's user-friendly interface includes a newsfeed format, enabling teams to chat, upload files, highlight content, and comment efficiently. This design promotes fast, focused, and secure discussions, making it an effective tool for modern workplace communication.

Mint Bills

Series C in 2013
Mint Bills is an application designed to help users manage their finances by setting reminders for bill payments. It employs proprietary account aggregation technology to ensure secure payment processing within its mobile applications. The primary service offered by Mint Bills allows users to pay bills and monitor their bank accounts, credit card transactions, investments, and loan balances through a user-friendly interface. The application is available on both iOS and Android platforms, making it accessible to a wide range of users.

SetPoint Medical

Series C in 2013
SetPoint Medical is a clinical-stage bioelectronic medicine company based in Valencia, California, focused on developing implantable neuromodulation devices aimed at treating chronic autoimmune diseases. The company is creating a platform that stimulates the vagus nerve to activate the body's natural inflammatory reflex, leading to a systemic immune-restorative effect. This innovative approach offers an alternative treatment option for conditions such as rheumatoid arthritis and inflammatory bowel disease, with the potential for reduced risks and costs compared to traditional drug therapies. SetPoint Medical, originally known as Innovative Metabolics Inc. until its name change in 2008, aims to provide patients and healthcare providers with effective solutions for managing debilitating inflammatory diseases.

Socrata

Series B in 2013
Socrata, Inc. specializes in cloud-based software solutions tailored for federal, state, and local government entities, focusing on transforming data into actionable insights. The company offers a suite of services, including Open Data, which facilitates interaction with government data through visualizations and sharing; Open Performance, which aids in performance management; and Perspectives, allowing data owners to visualize and enhance their data. Additionally, Socrata provides tools like CrimeReports for law enforcement, Open Budget for exploring government budgets, Open Expenditures for transparency in spending, and Open Payroll to clarify government personnel expenses. By integrating disparate data systems on its data-as-a-service platform, Socrata enhances government program effectiveness, improves citizen engagement, and promotes accountability. Founded in 2007 and based in Seattle, Washington, Socrata operates as a subsidiary of Tyler Technologies, Inc. and is recognized for adhering to stringent government standards, having earned Federal Risk and Authorization Management Program (FedRAMP) Authority to Operate (ATO).

ForSight Labs

Series B in 2013
ForSight Labs is dedicated to developing innovative ophthalmic technologies aimed at enhancing the sight and quality of life for visually impaired patients. The organization collaborates with entrepreneurs, investors, and clinicians to drive advancements in eye care through the creation and commercialization of high-impact solutions. With millions of individuals in the U.S. suffering from vision impairment and the associated economic burden exceeding $50 billion annually, ForSight Labs addresses a significant public health challenge. Their focus includes developing treatments for conditions such as glaucoma, which can lead to irreversible blindness in adults. By fostering a creative and cooperative environment, ForSight Labs strives to deliver effective solutions to the ophthalmic community and the patients it serves.

Automatic

Series A in 2013
Automatic's mission is to empower drivers with knowledge about themselves and their cars so they can be safer and drive smarter. Automatic believes that drivers should not have to buy a new car to have a better driving experience, and that the phone in their pocket can bring the future of driving to today's automobiles. Automatic is based in San Francisco, California, but its team comes from every corner of the world. The team obsesses about creating beautiful and well-engineered products that make a real difference in people's lives. Its members are big on ideas, low on ego, and love working together.

Scioderm

Series A in 2013
Scioderm, LLC is a clinical-stage pharmaceutical company based in Durham, North Carolina, specializing in the research, development, and manufacture of drugs for chronic skin diseases, particularly epidermolysis bullosa (EB). Founded in 2012, the company is focused on creating topical therapies to meet significant medical needs in the dermatological field. Its primary investigational product, Zorblisa, is designed to treat the skin blistering and lesions associated with EB, a rare inherited disorder characterized by fragile skin. Zorblisa aims to facilitate the healing of existing skin lesions while reducing the frequency and severity of new lesions. As of September 2015, Scioderm operates as a subsidiary of Amicus Therapeutics, Inc.

Vapotherm

Series A in 2013
Vapotherm, Inc. is a medical technology company specializing in the development and commercialization of proprietary Hi-VNI technology products designed to treat patients of all ages experiencing respiratory distress. Headquartered in Exeter, New Hampshire, the company offers a range of precision flow systems, including Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox, which deliver heated, humidified, and oxygenated air at high velocity through a small-bore nasal interface. Vapotherm also provides various companion products, such as the Vapotherm Transfer Unit for patient mobility, the Q50 compressor for compressed air, and aerosol solutions for medication delivery. Additionally, the company offers disposable products, including single-use nasal interfaces and Oxygen Assist Modules to help clinicians maintain target oxygen levels. Vapotherm generates revenue primarily through direct sales to hospitals in the United States and through distributors in select international markets. Founded in 1993, the company is committed to enhancing clinical outcomes and improving the quality of life for patients.

MuleSoft

Series E in 2013
MuleSoft is a San Francisco-based company that provides a software platform, Anypoint Platform, enabling organizations to connect their applications, data, and devices seamlessly using APIs (Application Programming Interfaces). Founded in 2006, MuleSoft's platform allows customers to compose applications using reusable building blocks or nodes, facilitating connections between SaaS applications, on-premises systems, cloud deployments, mobile devices, and data sources. The company operates as a subsidiary of Salesforce.com since 2018 and has strategic alliances with other businesses like IQVIA.

Catalyst Biosciences

Post in 2013
Catalyst Biosciences, Inc. is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The company specializes in developing innovative treatments for hemophilia and other rare bleeding disorders, utilizing its engineered subcutaneous coagulation factors to promote blood clotting. This approach aims to address the inherent limitations of traditional intravenous treatments and improve patient outcomes. Catalyst's product portfolio includes Marzeptacog alfa (activated), an advanced coagulation Factor VIIa that has completed Phase II development for hemophilia A or B with inhibitors, and Dalcinonacog alfa, a next-generation Factor IX therapy that has finished Phase IIb clinical trials for hemophilia B. Additionally, the company is working on CB 2679d-GT, an early-stage gene therapy for hemophilia B, as well as other treatments targeting dry age-related macular degeneration and systemic complement inhibitors. Catalyst Biosciences has also formed strategic collaborations with Mosaic Biosciences and Biogen to enhance its research and development efforts in these therapeutic areas. The company was founded in 2002 and has a commitment to addressing unmet medical needs in coagulation and complement disorders.

PeopleMatter

Series D in 2013
PeopleMatter, Inc. is a workforce management platform that specializes in talent management software tools aimed at enhancing the performance of service-industry brands. Founded in 2001 and based in Charleston, South Carolina, the company develops solutions tailored for various sectors, including technology, transportation, healthcare, government, biotech, and recreation. The platform focuses on improving the hiring process for hourly workers by simplifying sourcing, screening, and onboarding, thereby increasing efficiency and engagement for both employers and employees. PeopleMatter was acquired by Snagajob in June 2016, positioning it to further enhance its offerings in the realm of hourly workforce management.

Adara

Series B in 2013
Adara is a company that provides an online audience targeting platform to help brands enhance their competitive edge in the digital marketplace. By utilizing proprietary data and audience segmentation, Adara offers actionable insights that guide business planning and improve consumer engagement. The platform enables travel brands and advertisers to gain a comprehensive understanding of their audience by analyzing real customer data. This allows advertisers to tailor their offerings and effectively reach specific audiences based on their buying habits, ultimately facilitating more personalized marketing strategies.

Nuvaira

Series C in 2013
Nuvaira, Inc. is a medical device company focused on developing innovative treatments for obstructive lung diseases, particularly chronic obstructive pulmonary disease (COPD). The company has created a novel, catheter-based Lung Denervation System designed to address airway nerve hyperactivity, a common issue in patients with COPD and asthma. This minimally invasive procedure targets the parasympathetic nerves of the lungs, aiming to enhance lung function, improve exercise capacity, and elevate the quality of life for affected individuals. Founded in 2008 and headquartered in Minneapolis, Minnesota, Nuvaira was previously known as Holaira, Inc. before rebranding in June 2017.

OptiScan Biomedical

Private Equity Round in 2013
OptiScan Biomedical Corporation specializes in developing advanced glucose monitoring systems for use in intensive care units. The company is known for its OptiScanner 5000, an automated bedside platform that provides precise plasma-based glucose measurements using spectroscopy technology, eliminating the need for calibration. This system enables healthcare providers to monitor and respond to changes in glucose levels for critically ill patients effectively. Founded in 1994 and headquartered in Hayward, California, OptiScan Biomedical faced financial challenges, filing for Chapter 11 bankruptcy in June 2020 and subsequently converting to Chapter 7 bankruptcy in November 2020.

R2 Semiconductor

Venture Round in 2013
R2 Semiconductor, Inc. is a fabless power management company based in Sunnyvale, California, founded in 2008. The company specializes in low-voltage transistors and develops innovative power management technologies aimed at reducing power consumption and heat dissipation in various applications. Its product lineup includes FasTrack, designed for envelope tracking, and FastLane, which optimizes power management for multi-core application processors and digital System on Chips (SoCs). R2 Semiconductor's solutions enhance frequency switching, bandwidth, and size efficiency, catering to the needs of clients requiring effective power management for high-voltage applications.

RelateIQ

Series A in 2013
RelateIQ, now known as SalesforceIQ, is a provider of a professional relationship management platform designed to enhance customer relationship management. The platform automatically captures communication data from various sources, including email, phone calls, calendars, and social networks, allowing users to manage and analyze their interactions with sales prospects effectively. By leveraging advanced data science capabilities, RelateIQ delivers valuable insights that help users close deals more efficiently. The platform is accessible across multiple devices, including mobile applications and browser extensions, facilitating collaboration among teams. Ultimately, RelateIQ aims to drive revenue growth while streamlining workflows, making the sales process more efficient and less burdensome for its users.

Calithera Biosciences

Series C in 2012
Calithera Biosciences is a clinical-stage biopharmaceutical company based in South San Francisco, California, dedicated to discovering and developing small molecule drugs targeting tumor metabolism and immunology for cancer treatment. The company's lead candidate, CB-839, is a glutaminase inhibitor currently in Phase II clinical trials aimed at treating solid tumors. Additionally, Calithera is advancing INCB001158, an oral arginase inhibitor in Phase I/II trials for hematology and oncology. Other notable projects include CB-280, intended for cystic fibrosis treatment, and CB-708, an inhibitor of CD73. The company has established collaborations, including a license agreement with Mars, Inc. for the development of arginase inhibitors and a clinical trial partnership with Bristol-Myers Squibb to evaluate nivolumab in combination with CB-839. Founded in 2010, Calithera is focused on building a pipeline of innovative cancer therapeutics that address critical pathways necessary for tumor growth and survival.

Kona Medical

Series C in 2012
Kona Medical, Inc. is a medical technology company founded in 2009 and based in Issaquah, Washington. It specializes in the development of a non-invasive ultrasound-based therapy system aimed at treating hypertension, particularly in patients with drug-resistant hypertension. The company's flagship product, Surround Sound, utilizes ultrasound imaging to precisely guide the application of focused ultrasound energy for renal denervation, targeting the nerves connected to the kidneys to help regulate blood pressure. By offering a less invasive alternative to traditional treatments, Kona Medical seeks to address the health risks associated with high blood pressure while improving patient outcomes through advanced therapeutic techniques.

Big Switch Networks

Series B in 2012
Big Switch Networks Inc. specializes in data center networking technologies aimed at enhancing operational efficiency and agility for organizations worldwide. Founded in 2010 and headquartered in Santa Clara, California, the company offers a range of solutions including the Big Monitoring Fabric, which serves as a network packet broker for security chaining and visibility, and the Big Cloud Fabric, a software-defined networking solution compatible with various cloud environments such as VMware and OpenStack. These products facilitate improved networking capabilities in on-premises, public, and multi-cloud settings. Big Switch Networks has established partnerships with industry leaders like Dell EMC and HPE, and actively contributes to open-source networking communities. The company also has operations in Japan and maintains a presence in over 25 countries, reinforcing its commitment to providing innovative networking solutions.

Principia Biopharma

Series A in 2012
Principia Biopharma Inc. is a late-stage biopharmaceutical company based in South San Francisco, California, focused on developing innovative therapies for immune-mediated diseases. The company's lead candidate, rilzabrutinib, is an inhibitor currently undergoing Phase III clinical trials for pemphigus and pemphigus foliaceus, as well as Phase 1/2 and Phase 2 trials for immune thrombocytopenia and IgG4-related disease, respectively. Additionally, Principia is advancing PRN2246/SAR442168, aimed at treating multiple sclerosis and other central nervous system disorders, which is in Phase II trials. Another candidate, PRN473, is in Phase I trials for various immune-mediated diseases. Principia Biopharma collaborates with Genzyme Corporation to explore treatments for relapsing and progressive multiple sclerosis, enhancing its commitment to addressing significant unmet medical needs in immunology and oncology. Established in 2008, the company operates as a subsidiary of Sanofi.

Promedior

Series D in 2012
Promedior, Inc. is a clinical-stage biotechnology company based in Lexington, Massachusetts, focused on developing therapeutics for rare fibrotic and inflammatory diseases. The company’s primary targets include conditions such as myelofibrosis, idiopathic pulmonary fibrosis, age-related macular degeneration, and diabetic retinopathy. Promedior's drug portfolio features PRM-151, a recombinant form of human pentaxin-2 protein, and PRM-167, a variant designed for intravitreal delivery. These therapeutics are aimed at regulating monocyte-derived cell populations, which are critical in fibrotic, inflammatory, and autoimmune diseases. By specifically addressing these cells at injury sites, Promedior seeks to promote tissue healing and minimize systemic side effects commonly associated with existing therapies. The company was incorporated in 2006 and was previously known as Fibrotix, Inc.

Catalyst Biosciences

Post in 2012
Catalyst Biosciences, Inc. is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The company specializes in developing innovative treatments for hemophilia and other rare bleeding disorders, utilizing its engineered subcutaneous coagulation factors to promote blood clotting. This approach aims to address the inherent limitations of traditional intravenous treatments and improve patient outcomes. Catalyst's product portfolio includes Marzeptacog alfa (activated), an advanced coagulation Factor VIIa that has completed Phase II development for hemophilia A or B with inhibitors, and Dalcinonacog alfa, a next-generation Factor IX therapy that has finished Phase IIb clinical trials for hemophilia B. Additionally, the company is working on CB 2679d-GT, an early-stage gene therapy for hemophilia B, as well as other treatments targeting dry age-related macular degeneration and systemic complement inhibitors. Catalyst Biosciences has also formed strategic collaborations with Mosaic Biosciences and Biogen to enhance its research and development efforts in these therapeutic areas. The company was founded in 2002 and has a commitment to addressing unmet medical needs in coagulation and complement disorders.

Nuvaira

Series B in 2012
Nuvaira, Inc. is a medical device company focused on developing innovative treatments for obstructive lung diseases, particularly chronic obstructive pulmonary disease (COPD). The company has created a novel, catheter-based Lung Denervation System designed to address airway nerve hyperactivity, a common issue in patients with COPD and asthma. This minimally invasive procedure targets the parasympathetic nerves of the lungs, aiming to enhance lung function, improve exercise capacity, and elevate the quality of life for affected individuals. Founded in 2008 and headquartered in Minneapolis, Minnesota, Nuvaira was previously known as Holaira, Inc. before rebranding in June 2017.

Doximity

Series B in 2012
Doximity is a digital platform designed exclusively for medical professionals in the United States. With over 70% of U.S. physicians as members across various specialties and practice areas, Doximity offers a suite of tools tailored to enhance productivity and collaboration among healthcare providers. These tools enable doctors to communicate with colleagues, coordinate patient care securely, conduct virtual patient visits, stay informed about the latest medical news and research, and manage their careers effectively. The platform's mission is to support doctors in providing better healthcare by streamlining their professional activities.

ForSight VISION5

Venture Round in 2012
ForSight VISION5, founded in 2010 as part of ForSight Labs, specializes in developing innovative drug delivery technologies aimed at treating various eye conditions. The company focuses on creating non-invasive products designed to replace traditional eye drops, offering sustained therapy for significant eye diseases such as glaucoma, dry eye, and allergies. Currently, ForSight VISION5 is in its second Phase 2 clinical study for its lead product, the Helios insert, which represents a significant advancement in ocular treatment options.
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