Battery Ventures Closes New Funds Totaling More Than $3.8 Billion
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/
(Graphic: Battery Ventures)
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 .
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220713005953/en/
Contact information
Alicia Michaud
Marketing Director
Battery Ventures
alicia@battery.com
415.426.5922
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
MSCI Announces Results of the MSCI 2025 Market Classification Review25.6.2025 00:55:00 EEST | Press release
MSCI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, announced today the results of the MSCI 2025 Market Classification Review. Select highlights of this year’s review includes MSCI: Extending the consultation on a potential reclassification of Bulgaria from Standalone to Frontier Market status Continuing to monitor the implementation and market adoption of measures to enhance the accessibility of the Korean equity market, to determine whether these measures have replicated the outcomes of fully operational offshore FX markets such as those found in Developed Markets Providing updates on the market classification status of Greece Continuing to monitor the market accessibility of the Bangladesh equity market “MSCI is committed to ensuring that our market classifications reflect the evolving realities of global accessibility and investability,” said Raman Aylur Subramanian, Head of Index R&D. “In 2025, we have see
Jørgen Vig Knudstorp Nominated to Join NIKE, Inc. Board of Directors24.6.2025 23:15:00 EEST | Press release
NIKE, Inc. (NYSE:NKE) today announced Jørgen Vig Knudstorp has been nominated for election to its Board of Directors at the Company’s 2025 annual meeting of shareholders, to be held on September 9, 2025. Mr. Knudstorp was President and Chief Executive Officer of the LEGO Group (“LEGO”) from 2004 to 2016, Executive Chair of LEGO Brand Group from 2017 to 2023 and currently serves as Deputy Chair of the LEGO Foundation. He previously held various leadership positions at LEGO from 2001 to 2004. “Jørgen’s strong global experience with brand and digital marketing, strategy, and consumer products, as well as his development and fostering of culture and values, will make him an excellent addition to our board,” said Mark Parker, Executive Chairman of NIKE, Inc. “We look forward to working with Jørgen during an exciting time for NIKE where we will unlock our next chapter of growth through innovative product and distinctive brand storytelling across an integrated marketplace.” Prior to joining L
NetApp Appoints Disruptive Innovator Syam Nair as Chief Product Officer, Underscoring its Commitment to Bold Product Vision24.6.2025 23:05:00 EEST | Press release
NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today announced the appointment of Syam Nair as its new Chief Product Officer (CPO), effective Monday, July 7, 2025. Nair succeeds Harv Bhela, who concluded his tenure in June following a successful chapter of product leadership. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250624871234/en/ Syam Nair, Chief Product Officer at NetApp Nair is a former Salesforce and Microsoft executive renowned as a maverick innovator in the industry, bringing over 25 years of experience in scaling cloud platforms and driving hyper-growth. In his new role, Nair will lead NetApp’s product and engineering teams to accelerate innovation in hybrid cloud and AI offerings and advance NetApp’s strategic vision for data-driven business growth. “I am thrilled to welcome Syam to NetApp’s leadership team. He joins us at a time when our customers are looking to NetApp to help them deli
Mirion Technologies and Westinghouse Partner to Drive Digital Innovation in Nuclear Instrumentation Systems24.6.2025 23:04:00 EEST | Press release
Mirion Technologies (NYSE: MIR), a leading provider of advanced radiation safety solutions, and Westinghouse Electric Company LLC, a leading supplier of nuclear plant instrumentation and control systems, have announced a strategic partnership to provide digital Ex-core Nuclear Instrumentation Systems (NIS) based on the high-performing Mirion proTK product line. This collaboration aims to alleviate operator and maintenance burdens, enhance performance, and ensure sustained operation success. This digital NIS upgrade solution is offered exclusively through Westinghouse for both Westinghouse and Combustion Engineering designed PWRs worldwide. This initiative leverages Mirion’s proTK product line to upgrade existing analog neutron flux monitoring drawers, which were originally designed in the 1960s, to a state-of-the-art digital system. The Mirion proTK product line represents an advanced and reliable Ex-core neutron flux measurement solution to replace the outdated equipment that can be c
Auramet Closes $350 Million Syndicated Revolving Credit Facility to Support Metals Franchise24.6.2025 19:35:00 EEST | Press release
Auramet International, Inc. (“Auramet”), a leading precious metals merchant, is pleased to announce that it has closed a $350 million syndicated revolving credit facility (the “Facility”) led by Macquarie Group (“Macquarie”). Macquarie’s Commodities and Global Markets business acted as Mandated Lead Arranger, Bookrunner and Administrative Agent for the Facility, which was well oversubscribed. The Facility complements Auramet’s various bilateral banking facilities. Auramet welcomes the addition of Natixis, New York Branch to the bank group, joining the existing bank group that includes Coöperatieve Rabobank U.A., N.Y. Branch, HSBC Bank USA, N.A., Commonwealth Bank of Australia, Wells Fargo Bank, CIBC Bank USA, and Brown Brothers Harriman & Co. The Facility has been oversubscribed each year since inception. “Auramet’s relationships and industry knowledge are the foundation of our 21-year history and our banks have consistently provided the strong support needed for our growth,” said Kimb
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