umair-akeel.web version

Former Eloqua chief architect joins Bessemer

Umair Akeel, the onetime chief architect of Eloqua during its IPO and subsequent acquisition by Oracle, has joined Bessemer Venture Partners as CTO in residence (CTO-IR) and operating partner. Akeel will serve as a tech resource for all Bessemer portfolio companies and help the firm analyze trends and products worldwide. Bessemer was an investor in Eloqua and Trigo Technologies, Akeel’s previous company in which he was a software engineer and then a senior architect at IBM following its acquisition of Trigo. Bessemer in February wrapped up its ninth fund with $1.6 billion in commitments.

VC-backed PagerDuty hires engineering VP

PagerDuty, a San Francisco-based provider of operations performance management solutions, has appointed Tim Armandpour as vice president of engineering. Previously, Armandpour worked at YapStone where he served as senior vice president of engineering and product. PagerDuty’s backers include Andreessen Horowitz, Bessemer Venture Partners, Baseline Ventures and Ignition Partners.

Hightower picks up $13 mln

New York City-based Hightower, a commercial real estate leasing management platform, has secured $13 million in Series B funding. RRE Ventures led the round with participation from Bessemer Venture Partners, Thrive Capital and Pritzker Group Venture Capital.


Bessemer, Salesforce back mobile conference call provider Speakeasy

San Francisco-based Speakeasy, a provider of mobile conference call software, announced it has closed a $4.75 million Series A round of funding from Bessemer Venture Partners and Salesforce Ventures. The company previously raised $1 million in seed funding entirely from Bessemer. Angel investor Kenny Van Zant has joined the board as an independent advisor. Built off of the Twilio platform, Speakeasy is announcing its product and funding launch today at the Twilio Signal Conference.

Charles Birnbaum-web version

Birnbaum to lead NY office for Bessemer

Bessemer Venture Partners announced it has promoted Charles Birnbaum to vice president. Bessemer, which in February wrapped up its ninth fund with $1.6 billion in commitments, said Birnbaum will help lead the firm’s New York office. Birnbaum joined Bessemer in 2013. He focuses on financial services, education, Internet of Things and consumer Internet sectors. His investments include August Home, Quantopian, OMsignal, Abacus, BrightBytes and Main Street Hub.


Bessemer leads $9 mln funding of Pipedrive

Pipedrive, a San Francisco-based provider of cloud CRM software, raised a $9 million Series A round led by Bessemer Venture Partners. Paua Ventures also participated in the round, along with existing investors Rembrandt Venture Partners and AngelPad, the latter of which incubated the company in 2012. Alex Ferrara, a partner at Bessemer Venture Partners, has joined the board as a result of the funding. Pipedrive previously raised $4.4 million in seed funding from Rembrandt, AngelPad, Monashees Capital, Storm Ventures, TMT Investments and angel investors


Bessemer leads $30 mln funding of on-demand valet provider ZIRX

ZIRX, a provider of on-demand valet and related car services, said today it has closed its $30 million Series B financing led by Bessemer Venture Partners. Existing investors Norwest Venture Partners and Trinity Ventures also participated in the round. The San Francisco-based company has now raised $36.4 million in total funding, following a $6.4 million Series A round last September. The company has operations in San Francisco, Los Angeles, Seattle and Washington, D.C.


Bessemer, True back npm

Oakland-based npm Inc, a provider of software tools for JavaScript developers, has raised $8 million in a Series A round. Bessemer Venture Partners led the round, which included True Ventures. As part of the funding, Bessemer Partner Ethan Kurzweil has joined the company board.


Bessemer joins chorus of criticism over new Indiana law

Bessemer Venture Partners has joined the chorus of criticism over a new Indiana law that appears to permit discrimination against gays and lesbians under the banner of religious freedom. The firm posted a statement to portfolio company CEOs on its website encouraging them to support states that safeguard social justice.


August picks up $38 mln in BVP-led round

San Francisco-based August, a builder of home security products, has received $38 million in Series B funding. Bessemer Venture Partners led the round with participation from other investors that included Comcast Ventures and Qualcomm Ventures.


Main Street Hub picks up $20 mln from SVB

Main Street Hub, a marketing automation and CRM platform for local businesses, has secured $20 million in funding from Silicon Valley Bank, said a source at the company. In January 2014, Main Street Hub raised $14 million in Series B funding. Bessemer Venture Partners led the round.


Insight Venture leads $40 mln pre-IPO funding in Instructure

Insight Venture Partners has led a $40 million Series E funding round in Instructure, which makes educational software. Other investors in the funding round include Bessemer Venture Partners and EPIC Ventures. Instructure has raised $90 million to date. The pre-IPO investment will allow Instructure to launch Bridge, a cloud-based corporate learning and engagement platform.


Francisco Partners leads $60 mln round for Betterment

New York City based-automated investing service Betterment has raised $60 million in funding. Francisco Partners led the round with participation from other investors that included Bessemer Venture Partners, Menlo Ventures and Northwestern Mutual Capital. In addition to the funding, Betterment has named Peter Christodoulo of Francisco Partners to its board of directors.


Bessemer closes $1.6 bln venture fund

Bessemer Venture Partners, an investor in newly public Box as well as Twilio, Pinterest and Shopify, announced it has raised $1.6 billion for Fund IX. The multi-stage investor raised the same amount for Fund VIII, which closed in 2011.

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