MA-BATTERY-VENTURES
Battery Ventures, a global, technology-focused investment firm, has closed two new funds worth a combined $2 billion to continue backing innovative technology companies worldwide in a variety of sectors.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200212005261/en/
Battery, a 37-year old firm, has closed Battery Ventures XIII, a $1.2 billion investment fund, and Battery Ventures XIII Side Fund, a companion vehicle capitalized at $800 million. The side fund invests in later-stage growth and buyout transactions alongside the main fund.
Through these funds, Battery will continue to make investments in core sectors including business software; enterprise IT, including cloud computing, artificial intelligence and cybersecurity; online marketplaces; financial technology; healthcare-IT; and industrial technology. The firm also will continue to execute its differentiated strategy of backing companies at all stages of maturity.
The firm’s staff operates as one global team from offices in Boston; San Francisco; Menlo Park; New York; London; and Herzliya, Israel, outside Tel Aviv.
Battery also announced that, in conjunction with the new fund, Zack Smotherman has been promoted to partner. Smotherman first joined Battery in 2013 and focuses on later-stage investments in the industrial-technology sector. He was previously an associate at WestView Capital Partners and started his career in investment banking. Separately, two other Battery team members, Chiraag Deora and Brandon Gleklen, were promoted to vice president. Deora, based in San Francisco, and Gleklen, based in Boston, work primarily on early- and growth-stage transactions.
Since its founding in 1983, Battery has invested in 426 companies globally, excluding seed deals, resulting in 61 total IPOs and 167 M&A events*. Battery closed its last family of funds totaling $1.25 billion in February 2018.
“We’re extremely pleased to close these two new funds, and we sincerely thank our limited partners for their support,” said Battery General Partner Chelsea Stoner. “To us, the funds highlight the huge opportunity we see in many rapidly evolving technology sectors in multiple geographies—including markets many other tech investors may overlook.”
“Battery continues to believe that our multi-stage investing approach—plus our decades of investing experience—position us well to spot new and disruptive tech trends through all types of market cycles,” added General Partner Neeraj Agrawal. “We are proud to partner with so many exceptional founders and management teams, whose hard work and discipline building category-defining companies forms the foundation of our business.”
Nancy Ham, the CEO of Battery-backed, healthcare-software company WebPT, which was acquired last year, said : “Battery was an invaluable partner to WebPT and instrumental in helping us grow the company, including assisting with company strategy, executive hiring and M&A, among other things. We would not be where we are today without Battery’s expertise and guidance.” Added Scott McFarlane, the CEO of Avalara, the Battery-backed tax-software firm that went public in 2018: “Battery’s deep, decades-old experience in cloud software, and the team’s counsel on both tactical and strategic matters, really helped us evolve from a startup to a mature public company.”
For more information about Battery and its new funds, please see our related blog post and infographic here .
About Battery Ventures
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from offices in Boston, San Francisco, Menlo Park, Israel, London and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.
*Data through Sept. 30, 2019; figures are net of write-offs. Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor makes its services available to the public or other advisory clients. For more information about Battery Ventures’ potential financing capabilities for prospective portfolio companies, please refer to our website. For a complete list of portfolio companies, please click here .
View source version on businesswire.com: https://www.businesswire.com/news/home/20200212005261/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Hanshow and the University of Cambridge Launch Joint Research on Augmented Intelligent Hybrid Wireless Technology25.12.2025 12:34:00 CET | Press release
Hanshow, a global leader in electronic shelf labels (ESL) and digital store solutions, has entered into a multi-year research collaboration with the University of Cambridge, one of the world’s most prestigious academic institutions. The partnership will focus on joint research and innovation in next-generation intelligent hybrid wireless technologies, marking an important milestone in Hanshow’s continued investment in core technologies and long-term innovation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251225988816/en/ This collaboration leverages the University of Cambridge’s deep expertise in fundamental wireless technology research, alongside Hanshow’s extensive industry experience, to further strengthen multi-protocol integration capabilities and expand scalable applications across diverse retail scenarios. Guided by shared principles of innovation, collaboration, openness, and knowledge sharing, the two parties aim
Social Development Bank Highlights Strategic Partnerships and Global Initiatives at DeveGo 202524.12.2025 17:27:00 CET | Press release
The forum held in Riyadh witnessed the signing of 51 agreements aimed at strengthening the entrepreneurial ecosystem The Social Development Bank (SDB) hosted the second edition of the Entrepreneurship and Modern Business Practices Forum, “DeveGo 2025”, from 21 to 23 December in Riyadh. Held under the patronage of His Excellency Eng. Ahmed bin Sulaiman Al Rajhi, Minister of Human Resources and Social Development and Chairman of SDB’s Board of Directors, the forum brings together government leaders, global experts, investors, and entrepreneurs to shape the future of entrepreneurship and modern business practices in the Kingdom of Saudi Arabia. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251224036724/en/ From right to left: Ahmed Al Rajhi, Saudi's Minister of Human Resources and Social Development, H.E. Rebeca Grynspan, Secretary-General of UNCTAD, and Sultan Al Hamidi, CEO of Social Development (Photo: AETOSWire) Opening th
Making Science Unveils ‘AWAKE’: The AI Venture Studio Industrialising Startup Creation and AI-First Innovative Solutions23.12.2025 20:51:00 CET | Press release
The disruption generated by AI enables the acceleration and industrialisation of the creation of internal solutions and start-ups through centres of excellence in Chicago, Madrid and Tbilisi.This model has already proven its commercial and innovative power through the acceleration of startups like ad-machina, which has multiplied its value by 10 since joining the Making Science ecosystem. Making Science, the global digital acceleration consultancy, today announced the launch of AWAKE Venture Studio. This "AI-first" model represents a new era in systematic innovation, designed to identify, prototype, and scale both internal proprietary solutions and independent AI-native startups with global reach. The launch of AWAKE is motivated by the significant efficiency gains of orders of magnitude that Making Science has already achieved through the internal integration of AI. By applying these methods, the firm has achieved a 2x acceleration in tech feature development reducing time in the depl
FDA Clears First Extended Depth of Focus Contact Lens for Presbyopia23.12.2025 18:07:00 CET | Press release
Deseyne® (vifilcon C) Daily Disposable Soft (Hydrophilic) Contact Lens for Presbyopia with Extended Depth of Focus (EDOF) Delivers Continuous Vision at All Distances—Redefining Presbyopia Correction The Cataltheia Group and its U.S. subsidiary, Bruno Vision Care LLC, a leader in eye health innovation, today announced that the U.S. Food and Drug Administration (FDA) has cleared the first and only Daily Disposable Soft (Hydrophilic) Contact Lens for Presbyopia utilizing patented Extended Depth of Focus (EDOF) optical design technology, enabling commercial distribution in the United States. Deseyne® delivers smooth, continuous focus across near, intermediate, and distance vision, providing clear, natural vision without compromise. This performance is enabled by Cataltheia’s patented hyper-refractive central zone, engineered to precisely redirect light in a controlled manner. The result is a clear clinical advantage over the only other available contact lens option for presbyopia, multifoc
Aramco Awards SLB Long-Term Contract to Support Kingdom’s Unconventional Gas Production Growth23.12.2025 14:58:00 CET | Press release
Five-year contract to drive innovation in stimulation, intervention, digital and frac automationAgreement underscores gas as a pivotal fuel for global energy demand and a bridge to lower-carbon systems Global technology company SLB (NYSE: SLB) has been awarded a five-year contract by Aramco to provide stimulation services for its unconventional gas fields. This award is part of a broader multi-billion contract, supporting one of the largest unconventional gas development programs globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251223074948/en/ The contract encompasses advanced stimulation, well intervention, frac automation, and digital solutions, which are important to unlocking the potential of Saudi Arabia’s unconventional gas resources. The contract encompasses advanced stimulation, well intervention, frac automation, and digital solutions, which are important to unlocking the potential of Saudi Arabia’s unconve
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom