Rent the Runway Raises $60 Million in Series D Funding Led by Technology Crossover Ventures

Round includes investments from Bain Capital Ventures, Highland Capital Partners, and Advance Publications, Inc.

NEW YORK, December 19, 2014 — Rent the Runway (www.renttherunway.com), which is revolutionizing fashion by allowing millions of women to rent designer apparel and accessories, today announced a $60 million round of Series D funding led by Technology Crossover Ventures (TCV), with participation from Bain Capital Ventures, Highland Capital Partners, and Advance Publications, Inc., the parent company of Condé Nast. Additionally, TCV General Partner Daniel O’Keefe will be joining Rent the Runway’s board. This latest round brings total investment in the company to $116 million and will be used to accelerate the company’s already impressive growth.

“Rent the Runway is capping off an amazing 2014. We unveiled our new subscription service, Unlimited, which puts a woman’s closet on rotation; we opened new retail stores in New York and Washington, D.C.; and we doubled our customer base,” said Jennifer Hyman, Rent the Runway CEO and Co-Founder. “Our company is at the forefront of a global movement towards the access economy, and we’re confident that partnering with TCV, the firm that has backed both Netflix and Spotify, will help us achieve our goal of inspiring every woman in the United States to have a subscription to fashion.”

Over the past few years, Rent the Runway has built an experienced and powerful executive team that is 80% women, including the key hire of Beth Kaplan as President and COO, who was formerly the President of General Nutrition Centers and took GNC public in 2011. “This new investment combined with our strong leadership team will give us everything we need to take our company to the next stage of growth,” Beth Kaplan added.

Rent the Runway plans to use the funding to invest in introducing millions more women to the brand, hiring engineering talent that will help further deliver on the company’s customer experience, opening a network of retail locations across 15 key markets, and establishing the company’s first West Coast distribution center.

“We are tremendously excited about the incredible momentum Rent the Runway is experiencing and believe that, with this investment, we can further accelerate the company’s growth,” said Daniel O’Keefe, General Partner at TCV. “Rent the Runway has given a whole new generation of women access to high-end fashion, and they are just getting started. We look forward to helping the company grow as it continues to create new ways to bring luxury experiences to customers everywhere.”

About Rent the Runway
Rent the Runway is revolutionizing fashion by allowing millions of women to rent designer apparel and accessories. The company focuses on convenience and a top-notch customer experience on all of its platforms, including online, mobile, and retail locations in New York City, Washington, D.C., and Las Vegas. With styles from more than 270 top designers, Rent the Runway serves as a powerful marketing channel for the fashion industry, introducing a new generation of women to brands that they had limited access to before.

About Technology Crossover Ventures
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 20 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, Rent the Runway, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, VICE Media, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.

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Contact:
Rent the Runway
Kristen Whisenand
212.524.6849
kwhisenand@renttherunway.com

Shifali Erasmus-Bhagat
Kinetic.PR for TCV
650.315.7526
shifali@kineticprllc.com


Technology Crossover Ventures Promotes Ted Coons and Daniel O’Keefe to General Partners, and Sean Giese to Principal

Promotions Expand on TCV’s Commitment to Growing Teams of World-Class Technology Investment Professionals in the New York and Palo Alto Offices

Palo Alto, CA and New York, NY – December 19, 2014 – Technology Crossover Ventures (TCV), a leading provider of growth equity for premier technology companies, announced today that Ted Coons and Daniel O’Keefe have been promoted from principals to general partners, and Sean Giese has been promoted from vice president to principal. Coons and O’Keefe are based in the New York TCV office. Giese is located in TCV’s Palo Alto headquarters. The moves expand on TCV’s commitment to growing teams of world-class technology investment professionals in its New York and Palo Alto offices.

Jay Hoag, TCV founding general partner, said, “Ted, Dan and Sean have been instrumental in contributing to the growth and success of our portfolio companies. We are thrilled to see these three invaluable members of the TCV team expand their roles in developing our portfolio and attracting new investments.”

Jake Reynolds, TCV general partner added, “We brought Dan and Ted into our east coast office with the goal of expanding our presence in the region. We are pleased with the additional leadership they will be providing in their new roles as general partners.”

About Ted Coons
Ted Coons joined TCV in 2011 and has 16 years of financial and investment experience in the technology sector. While his investment experience spans multiple technology sectors, he focuses primarily on IT infrastructure, including all facets of enterprise and service provider IT. Since joining TCV, Ted has led investments in Actifio, ExtraHop and thinkingphones and has been actively involved in the firm’s investments in Genesys, GoDaddy, and Travelport. Prior to TCV, Coons was a managing director in Blackstone’s Private Equity Group where he invested across the technology sector. Before joining Blackstone, he was a vice president in the Credit Suisse First Boston Technology Group where he was responsible for advising and financing semiconductor and capital equipment companies. He is on the board of directors of Achievement First Brooklyn, the New York City/Newark advisory board of New Leaders, and the board of overseers of the Institute of Contemporary Art at the University of Pennsylvania.

“I am pleased to become a TCV general partner. It has been rewarding and fun to work with a talented team of investment professionals and some of the industry’s most innovative technology companies,” said Coons. “I look forward to continuing our work together to execute on TCV’s growth equity strategy, shape our IT infrastructure investing efforts, and support our portfolio companies.”

About Daniel O’Keefe
Daniel O’Keefe joined TCV in 2010 and has been in the venture capital industry since 1999. His primary areas of investment focus include the consumer Internet and software sectors. O’Keefe serves on the board of Rent the Runway, and is actively involved with TCV’s investments in Dollar Shave Club, Electronic Arts (NASDAQ: EA), Prodege, Spotify, and VICE Media. Prior to TCV, O’Keefe was a principal at North Bridge and a senior vice president at Pequot Capital. O’Keefe is a member of the Council on Foreign Relations, holds a fellowship with the Foreign Policy Association, and is a member of the board of directors of the New York Venture Capital Association.

“I am excited to serve in my new capacity as a TCV partner. It’s been an honor working with our team to help some of the most visionary and innovative companies around the globe reach their full potential,” said O’Keefe. “I look forward to continuing our strategy of partnering with world-class entrepreneurs disrupting large, global technology markets.”

About Sean Giese
Sean Giese joined TCV in 2007. He focuses on a variety of sectors, including companies addressing mobile/wireless, communications, infrastructure software, storage, networking, the Internet of Things, and consumer electronics. Giese is actively involved in TCV’s investments in Actifio, ExtraHop, GoDaddy, and thinkingphones. He also helped manage past investments including 2Wire (acquired by Pace), Continuous Computing (acquired by Radisys), Fiberlink (acquired by IBM), and XRS Corp (acquired by Omnitracs). Prior to joining TCV, Giese worked at Deutsche Bank in the Technology Mergers and Acquisitions group.

“It has been a great experience working with the insightful and forward-looking team at TCV in growing some of the tech industry’s leading innovators,” Giese said. “In my role as a principal, I am thrilled to continue a focus on investing in disruptive companies as IT goes through some exciting generational shifts.”

About TCV
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 20 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, Rent the Runway, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, VICE Media, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.

Contact
Shifali Erasmus-Bhagat
Kinetic.PR
650-315-7526
shifali@kineticprllc.com


ThinkingPhones announced that it has closed a $56.7 million Series D financing led by Technology Crossover Ventures

Cambridge, MA (PRWEB) December 03, 2014

Thinking Phone Networks, Inc., also known as ThinkingPhones, the innovative leader in unified communications as a service (UCaaS), today announced that it has closed a $56.7 million round of Series D financing led by Technology Crossover Ventures (TCV), a leading provider of capital to growth-stage private and public companies in the technology industry. The round also includes funding from existing investor Bessemer Venture Partners (BVP). TCV general partner Ted Coons has been named to ThinkingPhones’ board of directors, effective immediately.The investment will enable ThinkingPhones to capitalize on the revolutionary shift in business communications driven by the widespread adoption of mobile devices in the enterprise. Funds will be used to accelerate product innovation, dramatically expand ThinkingPhones’ global sales force, and enhance customer support services. The company expects to more than double its workforce by the end of 2015.

“TCV’s investment is great validation of the market as a whole, and more specifically of our vision to transform business communication by developing key mobility-enabled enterprise applications,” said Steve Kokinos, ThinkingPhones president and CEO. “Communication systems are the only applications that truly have 100% penetration across the entire enterprise—this creates incredible, previously untapped value for business owners in terms of automating processes and uncovering buried analytics. We are the sole company addressing these issues head on.”

Founded in 2006, ThinkingPhones unifies its enterprise customers’ business voice, video, text messaging, and collaboration services on a single, mobile-ready cloud platform that is accessible from any device, including employees’ smartphones via the ThinkingPhones mobile app. Once connected, the ThinkingPhones platform readily integrates with the key business applications many enterprises already have in place, such as CRM and ERP services. To bring it all together, ThinkingPhones’ analytics solution aggregates data from across communications and business applications and liberates critical information previously locked inside antiquated traditional phone systems. The result is a complete, dashboard-driven picture of workforce and BYOD activity across all UC applications.

“TCV views ThinkingPhones as a true technology leader that is disrupting the market with a clear and simple value proposition for enterprises: reduced hard costs through decreased IT expenses, and improved soft costs through increased workforce productivity and accountability,” said Ted Coons, TCV general partner. “ThinkingPhones exemplifies the innovation, strong business growth, and leadership we seek in our portfolio companies. I am pleased to partner with their existing investors, board members, and outstanding management team led by founders Steve Kokinos and Derek Yoo.”

In the past year, ThinkingPhones has demonstrated strong momentum across all facets of the company. In addition to being named a Gartner “Leader” in the Magic Quadrant for Unified Communications as a Service for the third year in a row, ThinkingPhones received Frost & Sullivan’s “Company of the Year” Award in the North American hosted IP telephony and UCC services market and Technology Marketing Corporation’s “INTERNET TELEPHONY Unified Communications Product of the Year” designation. The company also expanded its global service deployment footprint with the addition of a data center facility in Frankfurt, Germany and a new office in the U.K.

“We view TCV as a strategic partner that, along with existing venture partners BVP, G20, and Advanced Technology Ventures, will help us become an unstoppable force in meeting the increasing global demand for UCaaS,” said Kokinos. “We have already expanded from North America to the EMEA region, and these new funds will allow us to significantly grow our international presence to other geographies.”

About ThinkingPhones
Cloud services from ThinkingPhones are deployed by hundreds of enterprises at thousands of corporate locations around the globe. The company’s mission is to make businesses’ systems work for them while providing apps that both management and staff love. The ThinkingPhones solution seamlessly unifies business voice, text, and conferencing services on a single, award-winning cloud platform, connects them to other cloud applications, and delivers intelligent, mobile-ready apps. For more information, visit http://www.thinkingphones.com.

About Technology Crossover Ventures
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, VICE Media, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit http://www.tcv.com.


Vice Lands 2nd Investment, to Fuel Expansion

Vice Media, the rabble-rouser of the news and entertainment business, has landed a pair of investments totaling $500 million to fuel the expansion of its media empire.

The media group, which is based in Brooklyn and is known for its trendy vibe and commando-style news reports, has closed a $250 million investment from Technology Crossover Ventures, the Silicon Valley venture capital company that has invested in Facebook and Netflix. The financing follows a $250 million investment from A&E Networks, the television group owned by Hearst and Disney that is home to the A&E, History and Lifetime cable networks.

Vice will maintain its independence through the deals, with both TCV and A&E each making the investments in exchange for an approximately 10 percent stake in the company. The transactions value Vice, which started as a free punk magazine in Montreal 20 years ago, at more than $2.5 billion.

“Vice is having a real moment now,” said Tom Freston, the former chief of MTV who is one of Vice’s investors and closest advisers. “It wanted to ensure that it was fully armed so that it could make the most of it.”

Vice executives and the group’s new partners said the deals allowed it to bolster its technological capabilities and content production in the United States and the 35 other countries where it operates. The transactions dwarf the recent $50 million investment made in the digital media start-up BuzzFeed, which valued that company at about $850 million.

The TCV partnership and investment, which was first reported by Re/code, will be devoted to creating proprietary technologies for distributing media across the web, mobile and social. The A&E partnership and investment will fund Vice’s expansion into a broader array of global programming about news, culture, sports, fashion and more.

The deals come after a summer of courtship between Vice and parade of media giants, including Rupert Murdoch’s 21st Century Fox, Time Warner and Disney. Vice has managed to convince many traditional media executives that it is the gatekeeper to a new generation of millennial viewers, especially the elusive young male. Last year, Fox bought a 5 percent stake in Vice for $70 million.

“They are a very powerful brand, and it cannot be underestimated their ability to reach a very hard-to-reach audience,” said Nancy Dubuc, chief executive of A&E Networks.

Over the years, Vice has steadily expanded into digital, television and film. The group expanded its news operation in 2014 and recently made headlines with a documentary series about the Islamic State in Iraq and Syria.

Vice says that it reaches a total of 150 million people each month across the globe, though that figure is difficult to confirm. In the United States, Vice.com attracted 9.3 million unique visitors in July across desktop and mobile, according to comScore.

Vice is profitable and on track to make about $500 million in revenue this year, according to a person with knowledge of the company. A large portion of the revenue comes from its advertising business that makes videos for large corporations. Other revenue includes digital ads and television and film production.

Shane Smith, Vice’s chief executive, has been outspoken about his quest to expand further into traditional television, where people still spend hours a day on average and which still commands the bulk of media revenue.

Vice now makes a 30-minute weekly program for HBO — with the tagline “News from the edge” — and Mr. Smith has said that he would like to operate a 24-hour Vice network. Vice had that chance in discussions with Time Warner, but the two companies could not agree on how much Vice was worth and how much control it would have over the network.

Vice’s pair of deals does not deliver a ready-packaged TV network, and it is unclear whether Vice will now land a network of its own. Andrew Creighton, president of Vice, said that the company was evaluating its options for television distribution.

A version of this article appears in print on September 4, 2014, on page B1 of the New York edition with the headline: Vice Gets 2nd Investment, to Aid Expansion.

 


Nathan Sanders Joins Technology Crossover Ventures as General Partner and Head of IR

Newest TCV Partner Expands Firm’s Commitment to Building on its Investment Success With World-Class Investor Relations That Engage LPs as True Partners

 Palo Alto, CA. – September 4, 2014 – Technology Crossover Ventures (TCV), a leading provider of growth equity for premier technology companies, announced today that Nathan Sanders has joined the firm as a general partner and head of investor relations (IR). Sanders joins TCV from global investment firm Bain Capital.

In his role at TCV, Sanders will oversee investor relations, ensuring that limited partners (LPs) are connected and engaged with TCV’s team and investment portfolio, as well as spearheading the firm’s strategy and execution around fundraising. TCV investors include public and private pension funds from North America, Europe and Asia, university endowments, financial institutions, family offices, and technology entrepreneurs.

“The private equity landscape has evolved to the point where simply having a great track record is no longer enough. Today, LPs expect—and deserve—a much deeper relationship with their core general partners, which requires a robust investor relations function,” said Jake Reynolds, a TCV general partner. “We are excited about the capabilities Nathan brings to TCV, and he will play a strategic role in our commitment to ensuring that our investors feel as good about their IR engagement as they do about their investment returns.”

Prior to joining TCV, Sanders was a director at Bain Capital. During his eight years at Bain, he served in multiple roles: both on the private equity investment team evaluating new deals and working with portfolio companies, and also on the investor relations team. Previously Nathan was an associate principal at McKinsey & Company Palo Alto where he was a leader in its high-tech practice, serving technology clients on a range of strategy and finance-related priorities. In the tech industry since 1994, he held positions at Accenture as well as a sales and marketing role at a startup prior to joining McKinsey. Nathan received an MBA with distinction from Harvard Business School and a BS in MIS and Entrepreneurship from the University of Arizona.

“Over the past two decades, TCV has built a focused and differentiated investment platform in the technology growth equity space, with a long track record of delivering top returns for investors,” said Sanders. “I’m thrilled to be joining the world-class TCV team and will bring the same level of quality and attention to investor relations that exists on the investment team. I look forward to fostering a new level of communications and collaboration in engaging with our LPs as true partners.”

About TCV

Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, VICE Media, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.

Contact

Shifali Erasmus-Bhagat
Kinetic.PR
650-315-7526
shifali@kineticprllc.com


IQMS Secures Significant Growth Investment from Technology Crossover Ventures and Banneker Partners

Backing from the leading technology growth equity firm, Technology Crossover Ventures, highlights IQMS’ leadership position and technology innovation in the manufacturing ERP software market
Read the Article

PASO ROBLES, Calif.–(BUSINESS WIRE)–IQMS, a leading manufacturing ERP and MES software provider with an ongoing, proactive commitment to its product and relationships, today announced that Technology Crossover Ventures (TCV) led a strategic growth equity investment in the company. IQMS joins Facebook, Expedia, Netflix, OSIsoft and other technology innovators as a TCV investment. Banneker Partners also invested in IQMS.“

This investment marks the first institutional round of funding received to date, which IQMS will use to accelerate growth through investment in sales, marketing and product development, while continuing to deliver superior customer support. IQMS founders, Randy and Nancy Flamm, will retain a substantial ownership position in the company. Terms of the transaction were not disclosed.

Founded in 1989, IQMS provides extended ERP and MES software, as well as hardware solutions, for the repetitive, process and discrete manufacturing industries. Its comprehensive, real-time solution is utilized by several thousand users across a variety of end markets including automotive, medical, packaging, consumer goods, food and beverage and chemicals. Built on a single database, IQMS’ flagship offering, EnterpriseIQ, is a scalable platform designed to adeptly grow with the client and offers more than 25 modules, including accounting, quality control, supply chain, shop floor, quality management and CRM.

“IQMS has built a remarkable franchise in the manufacturing ERP market. Having closely followed this space for more than two decades, we were very impressed with the company’s rapid growth, which has been fueled by its market-leading ERP and MES offering and customer centricity, unparalleled by any other in the sector. We are excited to lead the next chapter in IQMS’ journey to help manufacturing companies across the globe,” said Jake Reynolds, TCV general partner.

“With regulatory environments becoming stricter and need for more visibility on the shop floor rising, manufacturing customers view IQMS as an absolute necessity to remain competitive,” said Stephen Davis, a managing partner at Banneker Partners.

“We are extremely excited to partner with TCV and Banneker Partners because of their demonstrated experience in adding value to profitable, growing software businesses,” said Randy Flamm, CEO and founder of IQMS. “Over the past several years, IQMS has substantially grown revenues and increased market share primarily through earned trust and client referrals. With TCV’s financial backing and strategic guidance, we will strive to accelerate that growth and extend our leadership position even further, while focusing our efforts where it matters most: building and developing the industry’s most easy-to-use, innovative and powerful manufacturing ERP software. What won’t change is our strong commitment to customer support.”

About Technology Crossover Ventures:

Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, GoDaddy, Genesys Software, Netflix, RealNetworks, RiskMetrics Group, Splunk, Spotify, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.

About Banneker Partners:

Banneker Partners, founded in 2010, is a private equity and growth capital firm focused on making investments in leading software/SaaS, Internet and technology businesses. Selected investments include, Auditfile.comAncestry.com, Genesys Software and RocketLawyer Banneker Partners is located in San Francisco, California. For more information about Banneker Partners, please visit www.bannekerpartners.com

About IQMS

For the past 25 years, IQMS has been designing and developing manufacturing ERP software for the repetitive, process and discrete industries. Today, IQMS provides a comprehensive real-time ERP software and MES solution to the automotive, medical, packaging, consumer goods and other manufacturing markets. The innovative, extended single-database enterprise software solution, EnterpriseIQ, offers a scalable system designed to adeptly grow with the client and complete business functionality, including accounting, quality control, supply chain, shop floor, CRM and eBusiness. With offices across North America, Europe and Asia, IQMS serves manufacturers around the world. For more information, please visit www.iqms.com.


dough, Inc. Raises $25 Million in New Funding

The Chicago-based company will use funding from Technology Crossover Ventures to fuel a global network and boost technology offerings.

Chicago, IL – July 18, 2014 – dough, Inc., the combined entity of tastytrade and dough.com, announced today $25 million in new funding from Technology Crossover Ventures (TCV).  The funding will be used to add on-air talent for the tastytrade network, increase technology and development resources for the dough.com platform, and introduce content to international markets.

“We’re excited to be at this stage of our growth in just a few short years.  This funding will help accelerate the expansion of our award-winning content and technology,” said Kristi Ross, co-CEO of dough, Inc.  “Our roadmap takes us to Singapore and Canada as a start, working towards expanding programming, and building a new suite of financial tools to reach a broad demographic that is eager to increase its financial literacy and embrace our style of investing.”

dough, Inc. encompasses tastytrade, the online financial network, and dough.com, the financial engagement platform. Since tastytrade launched in 2011, the company has become the fastest growing digital financial content provider, with a unique mix of investable market information and beginner to advanced investment strategies, all delivered by entertaining personalities with an exceptional depth of knowledge about the markets. The company currently produces eight hours of original, live programming each weekday, has an extensive library of archived material, and provides an easy-to-use visual trading platform on dough.com.

“This funding is further validation of our vision, which is to transform the way people invest their money with our content and technology,” added Tom Sosnoff, co-CEO of dough, Inc. “Our network delivers matchless financial content, our development team creates cool technology with a fast delivery cycle, and we support our viewers like no one else.  We’re poised for incredible growth, and it’s great to put the band back together.”

TCV is a leading Silicon Valley-based provider of growth capital to technology companies. As part of this transaction, John Rosenberg, TCV general partner, will join the company’s board of directors.

“TCV’s mission is to invest in world-class management teams who are reshaping industries with cutting-edge technology and a disruptive business model,” said Rosenberg.  “The investment in dough represents our second opportunity to work with Tom and Kristi, two of the foremost innovators in financial technology. We are delighted to partner with them once again and support the dough team as they transform the way consumers interact with financial media and investment platforms.

To learn more about tastytrade and dough’s financial and investment strategies, visit www.tastytrade.com and www.dough.com.

About dough, Inc.

dough, Inc. includes tastytrade, the fastest growing online financial network, and dough.com, a highly visual investing and financial education platform. tastytrade was founded in August 2011 and currently produces eight hours of original, live programming every weekday, with 7 main shows and over 40 segments. All tastytrade content is free and accessible through video on
demand 24/7. dough.com launched in January 2014 and is the first platform to make trading and investing mobile. tastytrade and dough.com were designed to appeal to various investment levels, from beginner to active, all with a mission to increase financial literacy around investing. tastytrade distributes all its shows through www.tastytrade.com, www.dough.com, iTunes, Apple TV, Apple Radio, Roku, Amazon Fire TV, trading platforms, YouTube, and through the #1 financial grossing app in iTunes, Bob the Trader.

About TCV

Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.


NewVoiceMedia secures $50m funding to accelerate growth

SAN FRANCISCO, July 9, 2014 – Leading cloud contact center vendor NewVoiceMedia, announced today it has secured $50m in a Series E round of funding. The new investment will accelerate the company’s rapid international expansion, develop its portfolio of award-winning true cloud solutions and strengthen its infrastructure, sales, marketing and professional services capability in North America, APAC and EMEA.

New investor Technology Crossover Ventures (TCV) led the round, joined by existing shareholders Bessemer Venture Partners (BVP), Highland Capital Partners Europe, Eden Ventures, Notion Capital and salesforce.com. This takes the total raised by the company over the last 18 months to $105m.

NewVoiceMedia’s market-leading cloud customer contact platform integrates seamlessly with Salesforce to connect organizations with their customers worldwide, enabling them to deliver a personalized and unique customer experience and drive a more effective sales and marketing team.

NewVoiceMedia is significantly outperforming the rapidly expanding cloud contact center market, and has doubled its number of staff over the last year to meet increased demand for its technology. The company now serves in excess of 13,000 agents in 40 countries on five continents, including Parcelforce, QlikView, DPD, Topcon Positioning Systems and Truphone.

TCV is a leading, Silicon Valley-based provider of growth capital to technology companies. Its general partner John Rosenberg will assume a position on NewVoiceMedia’s board of directors with immediate effect.

Rosenberg comments, “TCV’s strategy is to invest in leading growth technology companies with a proven business model. We were impressed with NewVoiceMedia’s experienced leadership team, clear vision, relentless focus on excellent customer service, extremely rapid expansion and innovative multi-tenant cloud contact center platform. We are thrilled to have the opportunity to help NewVoiceMedia continue its impressive growth.”

Jonathan Gale, CEO of NewVoiceMedia, comments, “This investment is a powerful endorsement of our world-class technology, market position and global business strategy. In our last financial year, license revenue grew at over 100 percent, outpacing the market fivefold; and as the contact center industry transitions rapidly to the cloud, our technology leadership, global infrastructure and superior sales and marketing will allow NewVoiceMedia to continue its growth trajectory ahead of the market.”

Based on the June 6, 2012 Market Trends: Contact Center as a Service, North America, 2012 research compiled by analysts Daniel O’Connell and Drew Kraus of Gartner, Inc., “The North America contact center as a service market is projected to experience a compound annual growth rate of 17.8% through 2016.”

Ed Anderson, research vice-president at Gartner, commented in the December 12, 2013 report ‘Cloud Services Will Establish the Foundation for Next-Generation Solutions,’ “Organizations are discovering the value of cloud services and the associated cloud-based operating models to enable more flexible and agile IT environments. These environments are more responsive to changing business conditions and promise new opportunities as well as competitive threats. Although cloud services are not ideally suited to every scenario, most organizations report some cost savings by adopting them. Because of these benefits, companies’ IT spending plans show dramatic increases in cloud investments across all types of cloud services offerings in the next one, two and five years.”

– See more at: http://www.newvoicemedia.com/en-us/news/corporate/newvoicemedia-secures-$50m-funding-to-accelerate-growth/#sthash.8AcfYo2q.dpuf


ExtraHop Closes $41 Million in Series C Funding to Establish New Enterprise IT Category

ExtraHop Closes $41 Million in Series C Funding to Establish New Enterprise IT Category  

Led by Technology Crossover Ventures, Marquee Investors Validate Market Opportunity and Help Pave the Way for Accelerated Growth and Technology Innovation

http://www.marketwired.com/press-release/extrahop-closes-41-million-series-c-funding-establish-new-enterprise-it-category-1915072.htm

SEATTLE, WA–(Marketwired – May 29, 2014) – ExtraHop, the global leader in real-time wire data analytics for IT operational intelligence, today announced that it has closed a $41 million round of Series C financing. The round was led by Technology Crossover Ventures (TCV), an investment firm with a long track record of investment in some of today’s most successful technology companies including Splunk, Zillow, Expedia, and Spotify. TCV was joined in the round by existing investors Meritech Capital Partners and Madrona Venture Group, as well as private investors including Sujal Patel, the former CEO and founder of Isilon Systems. To-date, ExtraHop has raised $61.6 million in venture capital. The company will use this round to further establish the IT Operations Analytics (ITOA) category, with an emphasis on delivering significant innovations within its Wire Data Analytics platform and aggressive expansion into new geographic markets. ExtraHop also announced that Ted Coons at Technology Crossover Ventures is joining its board of directors.

“Just as Splunk’s platform fundamentally changed the way businesses leverage machine data, ExtraHop has transformed wire data into a key source of visibility and intelligence for IT operations teams with its Wire Data Analytics platform,” said Coons. “Led by a team with extensive expertise in virtualization, application delivery, and network technologies, ExtraHop is reshaping the way IT approaches management of its operations. The ExtraHop Wire Data Analytics platform provides CIOs, CTOs, and IT Operations teams with the insight they need to translate rich wire data into tangible business value. Serving on the board, I look forward to working with this proven and dynamic team as they continue their category leadership.”

“The convergence of cloud, software-defined IT, virtualization, and mobility have driven unprecedented complexity in today’s enterprise IT environments,” said Dennis Callaghan, Senior Analyst at 451 Research. “IT professionals and business leaders need technologies that enable them to cut through the clutter to gain visibility into these complex IT environments. This round of funding validates the value and ROI of ExtraHop’s Wire Data Analytics platform for improving IT operations, and empowers the company to maintain and extend its category leadership.”

Since closing its Series B Round in 2011, ExtraHop has demonstrated strong momentum across all facets of the company. Between 2012 and 2013, the company achieved 150 percent year-over-year revenue growth. Spanning industries such as healthcare, ecommerce, financial services, and information technology, ExtraHop’s customers represent some of the world’s largest enterprises, including Lockheed Martin, Morgan Stanley, Concur, Purdue Pharma, and McKesson. ExtraHop has also continued to innovate at a rapid clip, launching its flagship EH8000 appliance in April 2013, followed in November 2013 by the launch of its award-winning ExtraHop for AWS cloud performance product.

“Businesses cannot survive without a fast-paced, well-informed, and innovative IT organization. ExtraHop has deep roots in the enterprise, and we’ve identified a significant market opportunity that will redefine IT operations as we know it today,” said Jesse Rothstein, CEO, ExtraHop. “We’re establishing the entirely new category of ITOA, which provides an unmatched source of truth about business and IT operations through sophisticated analysis of wire data. The investment from TCV, known for backing some of the industry’s most notable and disruptive enterprise brands, further validates our mission and will significantly accelerate our pace of innovation.”

About ExtraHop

ExtraHop is the global leader in real-time wire data analytics. The ExtraHop Operational Intelligence Platform analyzes all L2-L7 communications, including full bidirectional transactional payloads. This innovative approach provides the correlated, cross-tier visibility essential for application performance, availability, and security in today’s complex and dynamic IT environments. The winner of numerous awards from Network World, Interop, TechTarget, and others, the ExtraHop platform scales up to 20Gbps in a single appliance, deploys without agents, and delivers tangible value in less than 15 minutes. Learn what we mean at www.extrahop.com or follow us on Twitter @ExtraHop.

About TCV

Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.

About Meritech Capital Partners (MCP)

Meritech Capital Partners is a leading provider of late-stage venture capital to category-defining private technology companies, and has been one of the top performing venture firms of the past decade. With over $2.6 billion under management, Meritech primarily leads investments into companies with proven and differentiated technology, rapidly-growing revenue and experienced management teams. With one of the most active venture portfolios, Meritech has experience in and provides guidance on issues facing rapidly growing companies including management incentive plans, IPO market timing and positioning, M&A strategies and negotiations and adviser selection. Meritech investments in industry-leading companies include Acclarent, Broadsoft, Cornerstone-OnDemand, Facebook, Fortinet, Fusion-io, Greenplum, hybris, Imperva, Netezza, NetSuite, Proofpoint, PopCap, Riverbed, Salesforce.com, Sourcefire, Tableau, and Zulily. Meritech is located in Palo Alto, California, and can be found at www.meritechcapital.com.

About Madrona Venture Group

Madrona (www.madrona.com) has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region’s most successful technology ventures. The firm invests predominately in seed and Series A rounds across the information technology spectrum, including consumer Internet, commercial software and services, digital media and advertising, networking and cloud computing, and mobile. Madrona manages approximately $1 billion and was an early investor in companies such as Amazon.com, Apptio, Isilon Systems, and Redfin.


Swagbucks appoints Chuck Davis as CEO, raises $60 million from Technology Crossover Ventures

swagbucks

Los Angeles, CA – May 13, 2014 – Swagbucks (swagbucks.com), the web’s leading rewards community – and its parent company, Prodege LLC – announced its first external capital round with a direct investment of $60 million from Technology Crossover Ventures (TCV). Swagbucks and Prodege executive chairman Chuck Davis will add the role of chief executive officer while founding CEO Josef Gorowitz becomes president.

Swagbucks rewards its members for everyday web discovery activity – including searching, shopping, entertainment, discounted offers, surveys, and games – delivering a robust platform for brands, advertisers, and marketers to establish valuable relationships with motivated consumers.  The company has distributed over $60 million in free gift cards to consumers since its 2008 founding.  Swagbucks offers gifts cards from over 300 ecommerce stores including Amazon, Wal-Mart, Target, Starbucks, and Paypal.

“Swagbucks first caught my interest in 2012 when I observed their impressive, entrepreneurial growth and diversified revenue model,” said Davis, who joined Swagbucks as executive chairman in January 2013. “Swagbucks has always put the consumer first by helping households get a little extra back and I am proud to build on that wonderful mission.  Furthermore, bringing in TCV as the company’s first strategic investment partner and building on their experience in scaling leading digital brands is a good fit for Swagbucks and its profitable business.”

Davis was chairman & CEO of Fandango, the leading online movie ticket and entertainment site.  While there, Davis oversaw its mobile launch and expansion making Fandango one of the most popular mobile ecommerce sites online.  Comcast  Corporation purchased Fandango in 2007.  Previously, Davis was president & CEO of Shopzilla (formerly BizRate) through its $525 million sale to the E.W. Scripps Company. Davis currently is a venture partner at Technology Crossover Ventures and serves as executive chairman at The Teaching Company.

Additionally, Davis serves as a director at Boingo Wireless, is the immediate past international chairman of the Young President’s Organization, and is an entrepreneur in residence at Harvard Business School.  Davis had prior executive stints at The Walt Disney Company (president, E-Commerce), News Corporation’s TV Guide, and Time Warner in addition to serving on the Brown University Corporation and the ecommerce industry’s Shop.org board of directors.

“TCV strives to back great entrepreneurs, providing tremendous value to online customers,” said Jay Hoag, founding general partner at Technology Crossover delighted to be investing behind him again, as he takes the helm at Swagbucks and builds upon the great work done at the company to date.”

Swagbucks has been profitable since 2010 and had $53 million in 2013 revenues, up 51% from 2012.

“Swagbucks has built a strong and successful business in a relatively short period of time,” said founder and president Josef Gorowitz.  “We are thrilled to welcome two proven new additions to the team with Chuck and TCV as we strategically scale Swagbucks to new heights in the years ahead.”

About Swagbucks

Swagbucks.com is the web’s leading rewards discovery community and top provider of free gift card awards for everyday digital life, helping consumers stretch their household budgets.  Headquartered in El Segundo, California under Prodege, LLC, Swagbucks is the original digital rewards currency for a wide variety of online activities including shopping, entertainment, surveys, discounts, games, search and more.

About TCV

Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of  capital to growth-stage private and public companies in the technology industry.  With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, and Zillow. TCV is headquartered in Palo Alto, California with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.