Scale Venture Partners Closes Fund VIII, at $900M

Scale Venture Partners, a Foster City, CA-based venture capital firm, closed its Fund VIII, at $900m.

The fund was subscribed from a combination of existing and new investors. It will be invested in cloud and SaaS software companies, with a particular focus on cognitive apps, which combine machine learning, API connectivity, and sensors to transform how enterprises work. Cognitive apps are a new breed of software that often sit on top of today’s SaaS platforms to automate simple tasks and augment users performing complex tasks. These new applications seek to make predictions about the world using machine learning algorithms. Scale has already invested in the space, with companies like Forter, Comet ML, Locus Robotics, and Observe.ai and the firm is actively seeking new investments.

Scale focuses on identifying leading companies early in their development – typically at their Series A or B – and helping them evolve from founder-led growth to a go-to-market machine.

Scale Fund VIII will be managed by the same five Partners as Fund VII – Stacey Bishop, Rory O’Driscoll, Andy Vitus, Ariel Tseitlin, and Alex Niehenke – as well as Jeremy Kaufmann and Eric Anderson, both of whom have been promoted to Partner. Additionally, Sam Baker has been elevated to Principal, while Noah Gross and John Gianakopoulos were promoted to Vice President. Javier Redondo joins Scale as a Principal, Craig Rosenberg as the new Chief Platform Officer, and Hillá Watkins has been named Chief Marketing Officer. 

Scale was an early investor in SaaS pioneers like Box, DocuSign, HubSpot, RingCentral, and Bill.com and in companies like JFrog, WalkMe, CircleCI, Motive, BigID, and Observe.ai.

FinSMEs

28/09/2022