Storm Ventures just closed its sixth fund with $130 million – TechCrunch
Storm Ventures, a now 19-year-old, Sand Hill Road challenge company in Menlo Park, Ca., has closed on $130.four million, displays a brand new SEC submitting. The outfit started its fundraising past due final 12 months, consistent with an previous submitting. It had closed its earlier fund with $180 million in 2015.
Storm distinguishes itself in a lot of techniques, together with its unique center of attention on seed and Series A level endeavor startups, together with cell, SaaS and cloud infrastructure firms.
The companions even have a penchant for serving to far-flung startups develop their footprint around the globe. Tae Hea Nahm, as an example, a founding managing director of the company (and cofounder of 4 cell firms prior to that, together with Airespace and MobileIron), used to be born in Seoul and has instructed us up to now that he spends a large amount of time in South Korea to wait startup board conferences, in addition to to consult with with Samsung and others of Storm’s LPs, which incorporates Korea Telecom.
Ryan Floyd, every other of the company’s cofounders, in the meantime just lately posted about his “hunt” for European founders, in part as a result of they’re extra excited about earnings from the outset than a few of their U.S. friends (an more and more horny high quality in all startups all at once).
One of Storm’s maximum notable bets nowadays come with Workato, a fast-growing, Cupertino, Ca.-based paintings automation platform, which two weeks in the past introduced $70 million in Series C investment led via Redpoint.
Storm — which used to be concerned within the corporate’s Series A and B rounds — additionally participated within the financing.
Another wager is Honeycomb, a three-year-old, San Francisco-based startup whose product guarantees developer groups that they may be able to see manufacturing extra obviously so they may be able to get to the bottom of problems extra temporarily. The corporate raised $11.four million in Series A investment led via Scale Venture Partners in September; Storm, which had participated within the corporate’s seed spherical, additionally participated amongst others.
Among Storm’s different, more moderen first-time investments, the outfit joined the $6.75 million Series A spherical of Talview, a two-year-old, Palo Alto, Ca.-based skill review and hiring platform, that introduced its latest investment in August. More at the corporate right here.