Sapphire Ventures: Difference between revisions

'''Sapphire Ventures''' (stylized as '''SAPPHIRE''') is a [[venture capital]] firm with offices in [[Menlo Park, California|Menlo Park]], [[San Francisco]], [[Austin, Texas|Austin]], and [[London]].<ref name=":0">{{cite web|url=https://www.bloomberg.com/news/articles/2021-02-04/sapphire-ventures-raises-1-7-billion-after-year-of-big-exits|title=Sapphire Ventures Raises $1.7 Billion After Year of Big Exits|date=4 February 2021|author=Katie Roof|publisher=[[Bloomberg News|Bloomberg]]|accessdate=November 30, 2021|archive-url=https://web.archive.org/web/20210730003059/https://www.bloomberg.com/news/articles/2021-02-04/sapphire-ventures-raises-1-7-billion-after-year-of-big-exits|archive-date=30 July 2021|url-status=live}}</ref><ref>{{Cite web|date=2021-11-30|title=Sapphire Ventures secures largest capital raise to date across two new funds|url=https://social.techcrunch.com/2021/11/30/sapphire-ventures-secures-largest-capital-raise-to-date-across-two-new-funds/|access-date=2022-02-13|website=TechCrunch|language=en-US}}</ref> The firm is considered one of the world's premier venture capital firms.<ref name=":3">{{Cite web |last=Baker |first=Kendall |date=2022-10-27 |title=The rise of sports as investment |url=https://www.axios.com/2022/10/27/sports-investment-rises |access-date=2022-11-01 |website=Axios |language=en}}</ref>

Notable Sapphire-backed companies include [[23andMe]],<ref name=":5">{{Cite web |last=Clark |first=Kate |date=2019-12-18 |title=SAP spinout Sapphire Ventures raises $1.4B for new investments |url=https://techcrunch.com/2019/12/18/sap-spinout-sapphire-ventures-raises-1-4b-for-new-investments/ |access-date=2022-11-10 |website=TechCrunch |language=en-US}}</ref> [[Alteryx]],<ref name=":6">{{Cite news |last=Gage |first=Deborah |date=2013-05-20 |title=Alteryx Raises $12M for Big Data Analytics |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/DJFVW00020130520e95kamxap |access-date=2022-11-10 |issn=0099-9660}}</ref> [[Auth0]],<ref name=":7">{{Cite web |title=Auth0 Announces $55M in Series D Funding |url=https://auth0.com/blog/auth0-announces-55m-series-d-funding/ |access-date=2022-11-10 |website=Auth0 - Blog |language=en}}</ref> [[Block, Inc.|Block]] ([[Square, Inc.|Square]]),<ref name=":8">{{Cite news |last1=Schimroszik |first1=Nadine |last2=Mukherjee |first2=Supantha |date=2021-10-21 |title=SAP's results get boost from cloud business, venture capital firm |language=en |work=Reuters |url=https://www.reuters.com/technology/sap-confirms-raised-outlook-q3-results-2021-10-21/ |access-date=2022-11-10}}</ref> [[Box (company)|Box]],<ref name=":9">{{Cite web |last=Hoge |first=Patrick |date=2013-10-02 |title=SAP Ventures to invest hundreds of millions in Bay Area companies |url=https://www.bizjournals.com/sanfrancisco/blog/2013/10/sap-ventures-expects-to-invest.html |access-date=2022-11-10 |website=www.bizjournals.com}}</ref> [[Finco Services|Current]],<ref name=":29">{{Cite web |title=Former Wall Street Trader Raises Series C for Current Challenger Bank - SWFI |url=https://www.swfinstitute.org/news/82748/former-wall-street-trader-raises-series-c-for-current-challenger-bank |access-date=2022-11-17 |website=www.swfinstitute.org}}</ref> [[Degreed]],<ref name=":10">{{Cite web |date=2021-04-15 |title=Sapphire Ventures-Backed Degreed Raises $153M To Digitally Transform Education |url=https://www.cbinsights.com/research/degreed-series-d-funding/ |access-date=2022-03-23 |website=CB Insights Research |language=en-US}}</ref> [[DocuSign]],<ref name=":11">{{Cite web |last=Boslet |first=Mark |date=2012-07-13 |title=DocuSign Raises $47.5M from KP, SAP, Accel, Others. KP's Meeker Joins Board |url=https://www.pehub.com/docusign-raises-47-5m-kp-sap-accel-others-kps-meeker-joins-board/ |access-date=2022-11-10 |website=PE Hub |language=en-US}}</ref> [[Fitbit]],<ref name=":12">{{Cite web |title=Fitbit raises $43 million in new funding |url=https://fortune.com/2013/08/13/fitbit-raises-43-million-in-new-funding/ |access-date=2022-11-10 |website=Fortune |language=en}}</ref> [[Integral Ad Science|IAS]],<ref name=":13">{{Cite press release |last=Network) |first=FleishmanHillard (Wire News |date=2015-07-31 |title=Integral Ad Science Raises $67 Million to Fund Advancements in Technology and Further Global Expansion |url=https://www.globenewswire.com/news-release/2015/07/31/1256843/0/en/Integral-Ad-Science-Raises-67-Million-to-Fund-Advancements-in-Technology-and-Further-Global-Expansion.html |access-date=2022-11-10 |website=GlobeNewswire News Room |language=en}}</ref> [[JumpCloud]],<ref name=":14">{{Cite web |last=Miller |first=Ron |date=2021-09-13 |title=JumpCloud raises $159M on $2.56B valuation for cloud directory tool |url=https://techcrunch.com/2021/09/13/jumpcloud-raises-159m-on-2-56b-valuation-for-cloud-directory-tool/ |access-date=2022-11-10 |website=TechCrunch |language=en-US}}</ref> [[Kaltura]],<ref>{{Cite press release |last=Ventures |first=Sapphire |title=Sapphire Ventures to Expand European Reach Following Unveiling of Nearly $2bn in New Capital Commitments |url=https://www.prnewswire.com/news-releases/sapphire-ventures-to-expand-european-reach-following-unveiling-of-nearly-2bn-in-new-capital-commitments-301443763.html |access-date=2022-11-10 |website=www.prnewswire.com |language=en}}</ref> [[LinkedIn|Linkedin]],<ref name=":15">{{Cite web |title=LinkedIn Raises $22.7 Million from Goldman Sachs, The McGraw-Hill Companies, SAP Ventures and Bessemer Venture Partners |url=http://press.linkedin.com/news-releases/index.php/2008/10/linkedin-raises-227-million-from-goldman-sachs-the-mcgraw-hill-companies-sap-ventures-and-bessemer-venture-partners |access-date=2022-11-10 |website=press.linkedin.com |language=en}}</ref> [[Livongo]],<ref name=":16">{{Cite web |date=2016-04-12 |title=Livongo Health Completes $44.5M Funding to Support Growth, Expand Health Platform |url=https://www.businesswire.com/news/home/20160412005276/en/Livongo-Health-Completes-44.5M-Funding-to-Support-Growth-Expand-Health-Platform |access-date=2022-11-10 |website=www.businesswire.com |language=en}}</ref> [[Looker (company)|Looker]],<ref name=":17">{{Cite web |date=2015-03-11 |title=Sapphire fancies Looker in $30m series B |url=https://globalventuring.com/corporate/sapphire-fancies-looker-in-30m-series-b/ |access-date=2022-11-10 |website=Global Venturing}}</ref> [[MuleSoft]],<ref name=":18">{{Cite web |title=MuleSoft Raises $37 Million to Connect the New Enterprise |url=https://www.mulesoft.com/raises-37-million-connect-new-enterprise |access-date=2022-11-10 |website=MuleSoft |language=en}}</ref> [[Monday.com]],<ref name=":19">{{Cite web |last=Lunden |first=Ingrid |date=2019-07-30 |title=Monday.com raises $150M more, now at $1.9B valuation, for workplace collaboration tools |url=https://techcrunch.com/2019/07/30/monday-com-raises-150m-more-now-at-1-9b-valuation-for-workplace-collaboration-tools/ |access-date=2022-11-10 |website=TechCrunch |language=en-US}}</ref> [[Paytm]],<ref name=":20">{{Cite web |title=From Masayoshi Son to Warren Buffett ⁠— some of the world's biggest billionaires have a stake in the success of Paytm IPO |url=https://www.businessinsider.in/business/startups/news/key-investors-in-one97-communications-or-paytm/articleshow/83003563.cms |access-date=2022-11-10 |website=Business Insider}}</ref> [[Ping Identity]],<ref name=":21">{{Cite web |title=Ping Identity Receives $35 Million in Additional Funding Led by New Investor KKR |url=https://www.pingidentity.com/en/company/ping-newsroom/press-releases/2014/ping-identity-receives-35-million-in-funding.html |access-date=2022-11-10 |website=www.pingidentity.com |language=en}}</ref> [[Sumo Logic]],<ref name=":22">{{Cite web |title=Sumo Logic Completes $75 Million Funding Round |url=https://www.sumologic.com/press-release/75-million-funding-round/ |access-date=2022-11-10 |website=Sumo Logic |language=en-US}}</ref> [[Wise (company)|Wise]] ([[TransferWise]]).<ref name=":23">{{Cite news |date=2017-11-02 |title=TransferWise raises $280 million from Old Mutual, IVP and others |language=en |work=Reuters |url=https://www.reuters.com/article/us-transferwise-fundraise-idUKKBN1D20BK |access-date=2022-11-10}}</ref>

In 2019, the firm launched '''Sapphire Sport,'''<ref>{{Cite web|date=2019-01-28|title=Sapphire Ventures launches $115 million sports tech fund with big-name backers|url=https://venturebeat.com/2019/01/28/sapphire-ventures-launches-115-million-sports-tech-fund-with-big-name-backers/|access-date=2022-02-13|website=VentureBeat|language=en-US}}</ref> a fund dedicated to backing companies at the intersection of sports, media, and entertainment. Backers of the fund included [[Manchester City F.C.|Manchester City]]'s [[City Football Group]] (CFG) alongside owners, investors, and family offices from the [[National Football League]] (NFL), [[Major League Baseball]] (MLB), [[National Basketball Association]] (NBA), [[National Hockey League]] (NHL), and [[Major League Soccer]] (MLS).<ref>{{Cite press release |last=Ventures |first=Sapphire |title=Sapphire Ventures Raises $115M+ to Launch: Sapphire Sport Funds Platform |url=https://www.prnewswire.com/news-releases/sapphire-ventures-raises-115m-to-launch-sapphire-sport-funds-platform-300784859.html |access-date=2022-11-10 |website=www.prnewswire.com |language=en}}</ref>. Later in 2019, Sapphire Ventures re-launched #OpenLP, a community to foster idea sharing, open dialogue and overall greater connectivity among entrepreneurs, venture capitalists and limited partners (LPs).<ref>{{Cite web |title=Sapphire Partners Relaunches OpenLP.com to Help Aggregate the LP Voice and Foster Greater Connectivity Between Limited Partners and the Venture Capital Community |url=https://markets.businessinsider.com/news/stocks/sapphire-partners-relaunches-openlp-com-to-help-aggregate-the-lp-voice-and-foster-greater-connectivity-between-limited-partners-and-the-venture-capital-community-1028360763 |access-date=2022-11-10 |website=markets.businessinsider.com |language=en}}</ref><ref>{{Cite web |title=Sapphire Partners Relaunches OpenLP to Aggregate LP Voice and Foster Greater Connectivity Between LP VC Community |url=https://sapphireventures.com/press/sapphire-partners-relaunches-openlp-com-to-help-aggregate-the-lp-voice-and-foster-greater-connectivity-between-limited-partners-and-the-venture-capital-community/ |access-date=2022-11-10 |website=Sapphire Ventures |language=en-US}}</ref> That year, Sapphire also raised $1.4 billion across investment strategies, including a $150 million opportunity fund to support larger deals.<ref>{{Cite web |date=2019-12-18 |title=SAP spinout Sapphire Ventures raises $1.4B for new investments |url=https://social.techcrunch.com/2019/12/18/sap-spinout-sapphire-ventures-raises-1-4b-for-new-investments/ |access-date=2022-03-11 |website=TechCrunch |language=en-US}}</ref>

In 2021, the firm raised $1.7 billion in February<ref name=":0" /> and an additional $2 billion in November<ref>{{cite web |last1=Hall |first1=Christine |title=Sapphire Ventures secures largest capital raise to date across two new funds |url=https://techcrunch.com/2021/11/30/sapphire-ventures-secures-largest-capital-raise-to-date-across-two-new-funds/ |website=TechCrunch |date=30 November 2021 |access-date=30 November 2021}}</ref> across multiple investment strategies, with its [[assets under management]] surpassing $8.8 billion. This increase in capital also allowed the firm to expand its Portfolio Growth capabilities.<ref name=":25" /> Later that year, Sapphire made a major expansion in Europe and appointed Annalise Dragic as partner,<ref>{{Cite press release |last=Ventures |first=Sapphire |title=Sapphire Ventures to Expand European Reach Following Unveiling of Nearly $2bn in New Capital Commitments |url=https://www.prnewswire.com/news-releases/sapphire-ventures-to-expand-european-reach-following-unveiling-of-nearly-2bn-in-new-capital-commitments-301443763.html |access-date=2022-11-10 |website=www.prnewswire.com |language=en}}</ref> making Dragic one of the youngest female venture capital partners in Europe.<ref>{{Cite web |last=Lockwood |first=Tasmin |title=Sapphire Ventures makes Annalise Dragic one of Europe's youngest partners in the male-dominated world of venture capital |url=https://www.businessinsider.com/annalise-dragic-europe-youngest-female-partner-venture-capital-2021-12 |access-date=2022-03-11 |website=Business Insider |language=en-US}}</ref><ref>{{Cite web |last=Ackerman |first=Naomi |date=2021-12-14 |title=Female investor, 29, to spearhead Europe expansion for US VC Sapphire |url=https://www.standard.co.uk/business/female-investor-29-to-spearhead-major-european-expansion-for-us-vc-sapphire-ventures-2-billion-b971844.html |access-date=2022-03-11 |website=www.standard.co.uk |language=en}}</ref>