Venture capital firm Canaan Partners has grown its enterprise practice with the addition of Joydeep Bhattacharyya and Rich Boyle.
Both Joydeep Bhattacharyya and Rich Boyle joined the team as partners and will be responsible for enterprise software investments splitting their time between the Menlo Park and newly opened San Francisco offices.
Boyle will invest in artificial intelligence and marketplaces while Bhattacharyya will source SaaS applications and mobile-first solution opportunities.
Boyle has worked as VP of Product with Tom Hutton while at Risk Management Solutions in the 90’s. Thereafter, he was CEO of LoopNet.com (which he took public and then sold) and most recently, Operating Partner with Khosla Ventures.
Bhattacharyya joined from Shasta Ventures where he was a Principal. He spent four years at Shasta investing in early stage software companies like Leanplum, Neumob, Skycure, Tigertext and several others.
His experience in SaaS started and grew in the founding days of Microsoft Office 365 and Microsoft Skype for Business where he led cross-functional teams including R&D, IT Operations and Customer Support.
Founded in 1987, Canaan targets early-stage investments across a wide range of sectors including financial technology, marketplaces and enterprise software, as well as biopharma, oncology and digital health.
With a presence in Silicon Valley, New York, Connecticut, and Israel, $4.2 billion under management and over 180 exits to-date, the firm has invested in Lending Club (NYSE: LC), eBates (acquired by Rakuten, Inc.), Metacloud (acquired by Cisco), Skybox Imaging (acquired by Google), SuccessFactors (acquired by SAP), Tremor Video (NYSE: TRMR) and Virsto Software (acquired by VMWare), as well as notable healthcare companies such as CytomX Therapeutics (NASDAQ: CTMX), Dermira (NASDAQ: DERM), Labrys Biologics (acquired by Teva Pharmaceutical), Novira Therapeutics (acquired by Johnson & Johnson), Spinifex Pharmaceuticals (acquired by Novartis) and Transcend Medical (acquired by Alcon).