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New Enterprise Investments

 

Our New Enterprise Investing Approach

Over their lifetimes, our partners have made investments in MuleSoft, Jaspersoft, RelateIQ, NuoDB, Evernote, Figure Eight, Kinetica, Platform9, Folloze, Totango, Viewics and more. Their investments speak to a radically changing view of what enterprise tech means today. Not only is technology fundamentally changing how business applications are built and delivered, but also how businesses market, sell, manufacture and service their customers.

Canvas Partner Gary Little has been investing in enterprise software and services for many years. Notably, Gary led the Series A investment in MuleSoft in 2006 while a partner at Morgenthaler Ventures and served on its board till shortly after MuleSoft went public in 2017. It is his view that the new enterprise of today no longer has a data center, relying instead on SaaS applications built on scale-out cloud-computing resources such as AWS. With an increasingly rich and deep set of applications and capabilities instantly available to users by opening a browser or clicking in an app store, vendors can side step IT and sell directly to end-user customers utilizing disruptive lead-gen methods (e.g. freemium) with self-service solutions. This shift from costly relationship selling to low friction high velocity business models is predicated upon developing great products, typically offered as a cloud service, that are intuitive, easy to deploy and use, and don’t require costly proof of concepts, systems engineers and professional services.

Doubling revenues by doubling the number of sales reps is a long and costly slog, and relying solely on internal engineering resources to advance a product roadmap is an invitation for competitors to leap frog your efforts. Rather, new enterprises invest heavily in APIs to extend their reach via content, distribution, manufacturing, fulfillment and service partnerships. They nimbly accelerate and advance their product roadmaps by leveraging APIs to integrate best-of-breed functionality via cloud-product and crowd-solution partners. Said differently, competitive advantage will increasingly be won by those organized as “software-defined corporations” that are best able to programmatically leverage the burgeoning API economy.

We see every day non-trivial opportunities to fundamentally improve the ways in which modern business is transacted. For the first time ever, the Fortune 500 can be as innovative as anyone, and vice versa. The new enterprise is in that way a continuum, and we believe the biggest enterprise tech investment opportunity ever.

New Enterprise News

Figure Eight partners with Google to give AutoML developers better training data

Figure Eight, a platform that helps developers train, test and fine-tune their machine learning models, today announced a major new collaboration with Google that essentially turns Figure Eight into the de facto standard for creating and annotating machine learning data for Google Cloud’s AutoML service.
July 24, 2018 | TechCrunch/by admin

Roche to Acquire Viewics

Roche today announced an agreement with Viewics, Inc., a privately held software company focused on laboratory business analytics. Under the agreement, Roche is acquiring all shares of the company. The acquisition, which is subject to customary closing conditions, is expected to close on November 21, 2017. This acquisition allows Roche to expand its leading position in the Integrated Core Lab with business analytics capabilities, enabling laboratories to make faster data-driven informed decisions on their operations and processes.
November 20, 2017 | HIT Consultant/by admin

This Hot Database Startup Just Snagged $50 Million in Funding

Kinetica, a startup that builds databases that harness fast graphical processing chips to perform everyday business applications, now has $50 million in new funding. The $50 million in Series A funding was led by Canvas Ventures and Meritech Capital Partners, with contributions from new investor Citi Ventures and existing backer Ray Lane of GreatPoint Ventures.
June 29, 2017 | Fortune/by admin

Platform9 raises $22 million to help enterprises manage hybrid clouds

Platform9, a startup that helps companies manage their cloud software deployments across on-premises data centers and the public cloud, announced today that it raised a $22 million series C round of funding. Canvas Ventures led the round, which also included participation from Hewlett Packard Enterprise, Redpoint Ventures, and Menlo Ventures.
June 28, 2017 | VentureBeat/by admin

New $300M Canvas Fund – Complete Press Coverage

See all the news coverage of Canvas's new $300M fund using Folloze, an account-based marketing sales platform.
September 29, 2016 | Press Clips Captured in Folloze/by Ching Wu

Folloze Welcomed to Canvas Portfolio – New Series A

Canvas Partner Gary Little led the Series A investment in Folloze and joins the board. Learn more about this innovative "account-based marketing" (ABM) sales platform.
September 29, 2016 | Vator News/by Ching Wu

Totango locks down $15.5M to Keep Cloud Software Users Paying up

Totango, a startup that shows software sellers which users are at risk of leaving in order to maximize engagement, subscription renewals, and increased cloud spending, has just raised $15.5 million in new funding.
February 5, 2014 | VentureBeat/by Ching Wu