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IVP 2021 in review – Outstanding performance with 15 IPOs and a $ 1.8 billion fund to serve growing companies

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MENLO PARK, Calif .– (COMMERCIAL THREAD) – IVP shared a summary of the key milestones of the past 12 months, an unprecedented year of technological growth despite the continued challenges of the world. Fifteen of the companies in the company’s portfolio entered the public market through direct listings, SAVS and traditional IPOs this year, catapulting 130 IPOs into the company’s history.

Notably, Coinbase’s direct listing resulted in the largest U.S. company opening in Nasdaq history as well as one of the largest capital market transactions ever. In addition, Wise became the first company to go public through direct listing on the London Stock Exchange. And as IVP celebrated these successes, the company moved forward by announcing 16 new investments in high-growth companies and consumer technology companies. In total, the companies in the company’s portfolio raised more than $ 12 billion in follow-on funding in this calendar year.

Below are the highlights for 2021.

$ 1.8 billion late-stage venture capital and growth equity fund

IVP announced the closing of IVP XVII, a $ 1.8 billion venture capital and growth equity fund. The new fund follows the recent success of IVP XVI, a $ 1.5 billion fund created in 2018. IVP XVII is the largest fund raised in the company’s 41-year history and carries the cumulative committed capital of the company at $ 8.7 billion.

Since its inception in 1980, IVP has been committed to supporting innovation at the growth stage and partnering closely with exceptional leadership teams from category-defining companies like Amplitude, Attentive, Coinbase, CrowdStrike, Datadog , Grammarly, Hopin, Klarna, Slack, Snap, Supercell, Twitter, UiPath, Wise and ZipRecruiter.

IPO, direct registrations and after-sales service in 2021:

  • HashiCorp (HCP), a multi-cloud infrastructure automation software company, went public in December. IVP made its initial investment in HashiCorp in October 2018 and became the 130th company in IVP’s portfolio to go public.

  • Lulus (LVLU), an online retailer specializing in women’s clothing, went public in November. IVP made its initial investment in April 2018.

  • Nextdoor (KIND), the neighborhood network, went public in November. IVP made its initial investment in September 2019.

  • NerdWallet (NRDS), a provider of reliable and knowledgeable financial information, went public in November. IVP made its initial investment in January 2015.

  • Amplitude (AMPL), a pioneer in digital optimization, went public in September via direct listing. IVP made its initial investment in June 2017.

  • Robinhood (HOOD), a retail investment platform, went public in July. IVP made its initial investment in May 2020.

  • Wise (WISE), the international money transfer platform, went public in July via direct listing. IVP made its initial investment in August 2017.

  • LegalZoom (LZ), an online platform for legal and compliance solutions, went public in June. IVP made its initial investment in March 2011.

  • SoFi (SOFI), a digital personal finance company, went public in June. IVP made its initial investment in January 2015.

  • ZipRecruiter (ZIP), a job search platform, went public in May via a direct listing. IVP made its initial investment in August 2014.

  • The Honest Company (HNST), a digitally native, mission-driven brand focused on leading the Clean Lifestyle movement, went public in May. IVP made its initial investment in September 2011.

  • UiPath (PATH), an enterprise automation software company, went public in April. IVP made its initial investment in September 2018.

  • Coinbase (COIN), a cryptocurrency trading platform, went public in April via a direct listing. IVP made its initial investment in July 2017.

  • Compass (COMP), a real estate technology company, went public in April. IVP made its initial investment in September 2015.

  • Hims & Hers (HIMS), a multi-specialty telehealth platform, went public in January. IVP made its initial investment in January 2018.

New IVP investments announced in 2021:

  • Ajaib, an Indonesian online equity trading platform

  • Aledade, a platform for general practitioners

  • Cribl, leader in the observability pipeline

  • Dream Games, a mobile games company

  • FightCamp, the leader in home boxing and kickboxing in connected fitness

  • Figma, the collaborative interface design tool

  • Found, the modern weight care platform

  • FTX, one of the world’s leading cryptocurrency exchanges

  • Hello Heart, the best digital therapy solution for heart health

  • Papaya Global, a workforce management platform

  • Paper, the leading provider of 24/7 high-dose tutoring software

  • Productiv, the leading SaaS management platform

  • Sorare, the fantastic football platform

  • Superhuman, the fastest messaging experience ever

  • TaxBit, publisher of tax and accounting software for the digital economy

  • Veriff, a global provider of identity verification

Major monitoring rounds in 2021:

  • Aiven, an open source cloud infrastructure software platform, raised $ 160 million

  • Amplitude, the digital optimization system provider, raised $ 150 million

  • Attentive, a personalized mobile messaging SaaS platform for brands, raised $ 470 million

  • Brex, the financial SO for the next generation of businesses, raised $ 425 million

  • Checkr, a Leading HR Technology Company Driving the Future of Work, Raised $ 250 Million

  • CircleCI, a Continuous Integration and Delivery Platform, Raised $ 100 Million

  • Dataminr, a real-time information discovery platform, raised $ 475 million

  • Discord, an all-in-one voice and text chat platform, raised $ 500 million

  • Eightfold.ai, creator of the first Talent Intelligence platform, raised $ 220 million

  • G2, the world’s largest software market, raised $ 157 million

  • AI-powered digital writing assistant Grammarly raised $ 200 million

  • H1, a global network for the healthcare industry, raised $ 100 million

  • Harness, a software delivery platform, raised $ 115 million

  • Hopin, an enterprise-wide shared experiences software platform, raised $ 850 million

  • Klarna, an online payments provider, raised $ 1.6 billion

  • KeepTruckin, a provider of fleet management technology, raised $ 190 million

  • Lyra Health, a full-service provider of mental health care, raised $ 387 million

  • MasterClass, an online education platform, raised $ 225 million

  • Niantic, a developer of the planet-wide AR platform, has raised $ 300 million

  • Papaya Global, a workforce management platform, has raised $ 250 million

  • Podium, a communication and payment platform for local businesses, raised $ 201 million

  • Robinhood, a retail investment platform, raised $ 3.4 billion

  • Tala, the world’s most accessible financial services provider, has raised $ 145 million

  • Autonomous airline Skydio raised $ 170 million

  • UiPath, an enterprise automation software company, raised $ 750 million

  • WHOOP, the human performance company, raised $ 200 million

Industry recognition

In 2021, Inc. named IVP on its Founder-Friendly list. Venture Capital Journal has included IVP on its VCJ 50 list of top venture capital fundraisers for the past five years, and GrowthCap has recognized IVP as # 9 on its list of the top 25 growth capital companies.

Additionally, Forbes recognized Tom Loverro as one of the top 100 venture capitalists on its Midas list. Steve Harrick, Eric Liaw and Tom Loverro were named to GrowthCap’s Top 25 Software Investors 2021 list, demonstrating deep expertise in the software industry.

IVP promotions and new recruits

IVP has strengthened its team with several promotions and new additions in 2021. IVP has promoted Louisa Xu, Jason Kong, James Black and Karthik Ramakrishnan. These well-deserved promotions reflect their contribution to identifying and scaling the highest quality hypergrowth businesses. In addition, Shreyas Garg, Joanne Shang and Blair Shane have joined the IVP team, bringing additional investor and marketing experience to the company.

2022 is set to be a year in which IVP renews its commitment to hyper-growth companies with the potential to define and lead their markets.

Click here for the IVP 2021 summary infographic

About IVP

Founded in 1980, IVP is one of the leading venture capital and development capital firms in the United States. IVP has invested in over 400 companies, 130 of which have gone public. IVP is one of the best performing companies in the sector and has an IRR over 40 years of 43.1%. IVP specializes in venture capital growth investments, industry consolidations, founders liquidity transactions and certain public market investments. IVP investments include notable companies such as Amplitude (AMPL), AppDynamics (CSCO), Attentive, Brex, Coinbase (COIN), Compass (COMP), CrowdStrike (CRWD), Datadog (DDOG), Discord, Dropbox (DBX), GitHub (MSFT), Glossier, Grammarly, HashiCorp (HCP), Hims & Hers (HIMS), Hopin, Klarna, LegalZoom (LZ), Looker (GOOGL), Marketo (MKTO), MasterClass, Mindbody (MB), MuleSoft (CRM ), Netflix (NFLX), Niantic, Podium, Robinhood (HOOD), Rubrik, Slack (WORK), Snap (SNAP), Supercell (Tencent), Twitter (TWTR), UiPath (PATH), Wise (WISE), ZipRecruiter ( ZIP), and Zynga (ZNGA). For more information, visit www.ivp.com or follow IVP on Twitter: @ivp.



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