MA-BATTERY-VENTURES
14.7.2022 13:17:07 CEST | Business Wire | Press release
Battery Ventures , a global, technology-focused investment firm, has closed new funds totaling $3.8 billion to continue backing innovative companies worldwide in a variety of sectors.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220713005953/en/
The new funds—raised as Battery approaches 40 years of continuous operations—include Battery Ventures XIV and a companion fund, together capitalized at $3.3 billion, and the $530 million Battery Ventures Select Fund II, a vehicle intended to make additional investments primarily in portfolio companies of the firm’s other funds.
Battery will use the new capital to continue investing in companies at all stages, from seed and early-stage venture to buyout, in areas such as business software , including fin-tech and healthcare-IT; infrastructure software , including data/AI, developer tools and cybersecurity; consumer technology ; and industrial technology and life-science tools . The firm pursues a collaborative, research-driven style of investing and operates as one global team from offices in Boston, San Francisco, Menlo Park, New York, London and Tel Aviv.
Battery has invested in more than 450 companies globally since its inception, excluding seed-stage deals, resulting in 73 total IPOs and 195 M&A events*. Eight of the firm’s companies staged IPOs in 2021, and 13 had M&A exits. The portfolio companies that went public last year were Affirm, Amplitude, Braze, Coinbase, Confluent, Olo, Scodix and Sprinklr.
“Battery has successfully navigated up and down markets since its founding in 1983, and we remain extremely optimistic about the potential for disruptive new technology companies to be formed right now, despite—and even because of—the current market conditions,” said Michael Brown, a Battery general partner. “The fundamental trends driving the sectors we target, ranging from corporate digital transformation to remote work to open banking to the rise of online commerce, are stronger than ever. We’re excited to partner with talented founders and management teams; leverage our differentiated, stage-agnostic strategy; and invest these new funds in the next generation of technology companies.”
In conjunction with the new funds, Zack Smotherman has been promoted to general partner. He will continue to grow the firm’s efforts investing in the industrial-technology and life-science tools market. The industrial technology group has completed over 60 deals in the last 15 years, focusing on companies offering hardware, software and services for industrial and life science use cases, including critical test-and-measurement tools; workplace safety technology; and robotics, among other technologies.
In addition, Battery’s Shiran Shalev, based in Tel Aviv, was promoted to partner. Shalev joined Battery in 2013 and focuses on venture- and growth-stage investments in financial technology and business software.
Battery also recently hired veteran technology-sales executive Bill Binch as an operating partner and promoted several professionals in its growing portfolio-services and operations group. These include Karen Bommart, now investor-relations partner; Rebecca Buckman, marketing partner; Scott Goering, business-development partner; and Jenny Kang and Susanne Richman, now both talent partners. Additionally, Max Schireson—the former CEO of MongoDB who has been serving as a Battery executive-in-residence since 2015—was named operating partner.
“We’re excited to announce these well-deserved promotions on our investment team, which highlight our penchant for promoting homegrown talent, as well as our global footprint and ability to invest across stages and diverse sectors,” said General Partner Jesse Feldman. “On the services side, the promotions—as well as Bill’s and Max’s new roles—highlight our commitment to ramping up our expertise in areas like recruiting, leadership, culture, go-to-market services and marketing. We’re excited to offer our portfolio even more strategic and tactical help in those areas.”
Finally, the new pools of capital will allow Battery to continue expanding its focus on “majority-growth” investments, deals in which the firm takes majority-ownership stakes in growth companies, both bootstrapped and venture-backed. Battery has been backing such companies since 2008 and, since then, has completed majority-growth investments across 17 platform companies. Eight of those of those investments were made in the last three years.
Battery closed its thirteenth family of funds totaling $2 billion in February 2020 and announced Battery Ventures Select Fund I, capitalized at $400 million, a year later.
“I could not have asked for a better partner than Battery Ventures,” said Robbie Payne, the CEO of CAMBRIO, a manufacturing-software company acquired by Sandvik last year. “The team has always been experienced in, and extremely knowledgeable about, our market; well-networked; and always helpful in areas including strategy, recruiting, and sourcing acquisitions.”
Ara Mahdessian, co-founder and CEO of ServiceTitan, added: “ServiceTitan has been proud to partner with Battery Ventures for over six years. The firm’s incredible experience scaling B2B software companies has proven to be extremely impactful as we’ve grown to become the ‘Operating System of the Trades.’ The counsel Battery has provided us has been substantial. Many firms claim they’re more than just a monetary investment—and in my experience, Battery truly is.”
Finally, Cube Software Co-Founder and CEO Christina Ross said: “We knew finding a new venture partner in the current economic climate would be especially high stakes. In Battery, we found an experienced, well-networked investor who has seen this movie before—and we’re excited to start our journey with the firm in our corner.” Battery led a Series B investment in Cube, a financial-software company, last month.
About Battery Ventures
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, consumer tech, healthcare IT and industrial technology and life-science tools. 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, New York, London and Tel Aviv. 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 March 31, 2022. 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/20220713005953/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
Photonics Innovators Worldwide Invited to Compete for SPIE Prism Awards1.7.2026 20:33:00 CEST | Press release
19th annual award honors exceptional new products transforming light-based technologies SPIE, the international society of optics and photonics, invites the optics and photonics community to apply for this year’s SPIE Prism Awards, which recognize outstanding new products making waves on the market. Honorees will be announced at the highly-anticipated award ceremony on 3 February 2027 at SPIE Photonics West in San Francisco, California. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701642411/en/ SPIE Prism Awards honor exceptional new products transforming optics and photonics technologies. These awards, dubbed the “Oscars of Photonics,” provide scientists and engineers in the optics and photonics industry the opportunity to showcase their contributions to the field. Finalists and winners receive extensive print, web, and onsite promotion at SPIE Photonics West, which draws more than 22,000 researchers and industry leade
Around 500 Attend Sino-European ESG Conference in Germany1.7.2026 18:00:00 CEST | Press release
Around 500 government officials, business executives and academics from China and Europe gathered in the western German city of Mainz on Friday for the Third Sino-European Corporate ESG Best Practice Conference to discuss how deeper cooperation can support sustainable economic growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701255421/en/ Group photo of selected attendees at the conference. Hosted by the Chinese Consulate General in Frankfurt and jointly organized with authorities from Germany and China, the conference brought together participants from China, Germany, France, Italy, the Netherlands, Denmark, Luxembourg and several other countries under the theme "From Vision to Practice: Empowering Sustainable Growth Through Collaboration." Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA), delivered a video address. Speaking at the opening ceremony, Huang Yiyang, Chinese Co
Sinopec Receives CSR Award at Sino-European ESG Conference in Germany1.7.2026 15:38:00 CEST | Press release
China Petroleum & Chemical Corp. (Sinopec) has received the Corporate Social Responsibility Best Practice Award at the 3rd Sino-European Corporate ESG Best Practice Conference in Mainz, Germany, for its case study on carbon footprint management and low-carbon development. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701696760/en/ Huang Yiyang (L), Chinese Consul General in Frankfurt, presents the award to a representative of Sinopec. The conference jury said Sinopec has developed a carbon management framework centered on product carbon footprint management, covering the full product life cycle while aligning with both Chinese and European standards. It cited the company’s work with German chemical producer BASF to achieve mutual recognition of carbon footprint accounting methodologies as a milestone that could support greener cooperation across international industrial supply chains. According to the jury, Sinopec’s eff
Vercel and Mercedes-AMG PETRONAS Formula One Team Announce Multi-Year Strategic Partnership1.7.2026 15:30:00 CEST | Press release
The agentic infrastructure platform known for speed is joining forces with one of the world's fastest Formula One teams Today Vercel, the agentic infrastructure company, announced a new multi-year deal with the Mercedes-AMG PETRONAS Formula One Team. Starting with the British Grand Prix July 2 – 5 2026, Vercel branding will appear on the Mercedes-AMG PETRONAS Formula One Team race cars as the partnership begins its first chapter, before expanding significantly across the team ecosystem from 2027 onward. The partnership includes global branding rights, premium hospitality experiences, customer engagement, content creation, and technical collaborations, including plans to evolve the team’s digital platforms to Vercel. “Formula One is where every millisecond matters, every decision counts, and continuous innovation is fundamental to success. Vercel shares that same philosophy,” said Richard Sanders, Chief Commercial Officer, Mercedes-AMG PETRONAS Formula One Team. “The Vercel platform is
OXMIQ Raises $35 Million to Scale OxCore™ Architecture1.7.2026 15:15:00 CEST | Press release
OXMIQ Labs Inc., a unified GPU and AI architecture company founded by Raja Koduri, today closed its $35 million Series A financing, bringing the company’s total capital raised to $60 million. The funding will scale OxCore™, OXMIQ’s licensable GPU architecture that allows semiconductor companies and AI system builders to build custom AI silicon without a full chip program. The round was co-led by Fundomo and Samsung Catalyst Fund, with participation from MediaTek, AM Intelligence Labs, Pegatron Venture Capital, CDIB-TEN, Darwin Ventures, and Morgan Creek Digital, among other financial and strategic investors. OXMIQ’s expertise spans the full AI stack, from renewable power and data center infrastructure to silicon IP, electron-to-token machines (ETMs™), along with the software that runs AI factories and agents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701241910/en/ OXMIQ Funding raised to date of $60M after current $3
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