OpsCruise, the cloud application observability company, emerged from stealth today with $5 million in Seed funding led by The Fabric and focused on the $17 billion market opportunity for IT monitoring and observability. In addition to The Fabric other notable investors include First Rays Venture Partners, Impact Ventures, The Band of Angels and TiE Silicon Valley. Read press release
Portfolio Exit: AEye becomes latest lidar company to go public via SPAC
AEye, a lidar startup that developed its technology for use in autonomous vehicles as well as to support advanced driver assistance systems in passenger cars, is going public through a merger with CF Finance Acquisition Corp. III that will value the company at $2 billion. Read TechCrunch article
Portfolio Exit: The Detection Group
We are excited to announce that The Detection Group (January 2015 Dinner) is now officially part of the Watts Water Technologies family of brands. The Detection Group offers a wireless remote water leak detection system for commercial and residential buildings and campuses.
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Portfolio Exit: ON24 Starts Trading As One Of The Oldest VC-Backed IPOs Of The Year
Our 16th Band IPO is ON24, Inc., called “News Direct” when we invested (June 1998 Dinner).
Shares of webcasting and virtual events platform ON24 began trading on the New York Stock Exchange on Wednesday, with its stock closing at $70.45, or nearly 41 percent above its IPO price. ON24 isn’t like many of the VC-backed companies going public nowadays: it’s been around for more than 20 years. The company was founded in 1998 and raised its Series A, which was led by Canaan Partners, in August 1999. Read the TechCrunch article