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One of the companies I’m an investor in, Modular Robotics, just launched a Kickstarter campaign around its new product MOSS. It’s amazing.
Definitely a “show not tell” so I encourage you to watch the five minute video and then back the MOSS Kickstarter campaign if you, your kids, or your loved ones dig building things.
Two of the themes we love to invest in are Protocol and Glue. We’ve especially been interested in companies that make software developers and DevOps lives better. Some examples include SendGrid, Urban Airship, VictorOps, Pantheon, MongoLab, and Cloudability.
To that end, Raj Bhargava and I created a company called JumpCloud late last year (our eighth venture together). After being involved in hundreds of technology companies, we know that young and fast growing technology companies have little time to devote to the details of managing their server infrastructure. Often, there is a perception that things are fine, until they aren’t. And then much pain ensues.
My partners and I often worry about companies we’ve invested in having enough bandwidth and resources to adequately cover issues of reliability, availability, and security. We know firsthand what that entails, especially as companies hit high-growth inflection points.
Enter JumpCloud. JumpCloud helps DevOps and IT attain high levels of reliability, prevent unplanned downtime, and manage their environments like the big guys, without slowing them down. Watch David Campbell, one of JumpCloud’s other co-founders, explain JumpCloud at TechCrunch Disrupt.
JumpCloud is an agent-based SaaS tool designed for both cloud and physical Linux servers which provides full user management across all your users, all your servers, and all your clouds. JumpCloud also monitors your servers, identifies missing security patches, watches for attacks in progress, and identifies anomalous resource usage. JumpCloud is completely complementary to your Chef / Puppet / Opsworks configuration / automation tools. Think of JumpCloud as taking over server maintenance, management, monitoring, and security once the provisioning tools have done their thing.
JumpCloud closes the gap between what you can do and what you know you should be doing with regard to user management and security of your cloud infrastructure. That means fewer late-night calls, an easier to manage environment, and more reliability for your customers.
Also, if you are a DevOps person or senior technical person in your organizations, Raj, Paul Ford from SoftLayer, and I are hosting a private DevOps Conference in Boulder on October 24th. While the event is for Foundry Group, Techstars, and Bullet Time Ventures portfolio companies, we have a few open slots in case a few folks would like to join us. Just reach out to me via email and I’ll get you connected.
I’m a big fan of Jason Calacanis’ show This Week In Startups. I usually run naked (no headphones) but when I listen to something it’s usually an interview or a book.
Amy and I had dinner last night with Paul Berberian and his wife Renee and Paul mentioned Jason had interviewed him at Techstars FounderCon in Chicago a few weeks ago. So – I grabbed my iPhone, downloaded the interview, and listened to it. Dynamite stuff.
Earlier in the morning I read Jason’s post on LinkedIn titled The Great Venture Capital Rotation. I think it was originally titled “The End of Venture Capital Sort Of” (based on the URL). In addition to being provocative, it lined up nicely along a few others posts on this topic from Fred Wilson (Leading vs Following), Hunter Walk (AngelList Syndicates Will Also Pit Angel Against Angel) and Howard Lindzon (So You Want to Angel Invest…Be Prepared to Lead and Follow.) Naval, Nivi, and the gang at AngelList have really busted some stuff open and it’s interesting to watch it play out.
We believe great companies can be created anywhere.
When we started Foundry Group, we hypothesized that 33% of our investments would be in Colorado, 33% would be in California, 33% would be “everywhere else”, and 1% would be on Mars.
We still haven’t done the Mars one, but we remain optimistic about the possibility.
Today we’ve announced that we’ve made new investments in LeadPages (a company in Minneapolis) and 3D Robotics (a company in Tijuana, San Diego, and Berkeley). They were joined by our friends in Boulder at VictorOps (across the street from our office) who just raised a $6.5m financing.
Need a drone? That would be 3D Robotics.
Need split-test landing pages, launch pages, sales pages, and other conversion pages? That would be LeadPages.
Need your DevOps life to be less hellish? That would be VictorOps.
I love what we do.
Yesterday Yesware announced that Battery Ventures led a $13.5m round that we participated in. A few days ago Xconomy wrote a great article about the very first Yesware board meeting on April Fools Day, 2011. When I reflect on the journey of Yesware over the past 2.5 years it’s a pretty awesome example of a company going from a seed investment with three founders (Matthew Bellows, Cashman Andrus, and Raj Bhargava) to a rapidly growing 40 person company.
On 4/1/11 Yesware had a vision, a crappy prototype (that we threw away immediately after the financing), and a huge obsession around a vexing problem that no one was addressing effectively. Today they have over 300,000 users, a broad product set that includes a recently released deep integration with and between Gmail and Salesforce, and a leadership team and culture that is clear about what it is trying to accomplish and is true to itself.
In March, I wrote a blog post about Shifting My Focus To Scaling Up. When I look at our Foundry Group portfolio of over 60 companies, I see many of them in two distinct scaling up phases. The first are companies like Yesware that are rapidly growing revenue and customers, are in the 30 to 100 employee range, are dealing with balancing resources to accomplish their goals, but have an incredible amount of open ground in front of them. The second are companies like Fitbit that are clear leaders in their market, are on the 100 to 500 person ramp, and pacing the innovation in their market segment. Many of them are companies that aren’t overhyped because they are Silent Killers, a particular type of company we love to fund and work with.
Yesware has now shifted from the startup phase to the scaling up phase. There’s an entirely new level of organizational development, different set of challenges, leveling up of leadership and management skill sets, and massive opening of new opportunities given the resources that the company now has.
I find this a particularly exciting time in the life of a company. And a very challenging one. Fortunately, Matthew continues to surround himself with amazing people, such as his first outside board member, Dave Girouard, who recently ran the entire Google Apps business and is now CEO/founder of Upstart and his newest board member Neeraj Agrawal from Battery Ventures.
Plus, Matthew has a bunch of peers in our portfolio to talk to. We are together with many of them today in another Foundry Group summit – this time for full executive teams across our portfolio right in the middle of Denver Startup Week. Like all of our internal events, our goal is an extremely high signal to noise ratio. We leave the pomp and circumstance to others.
The enormous and powerful conversation around “startups” will continue. But as I turn more of my attention to “scaleups” I believe the next phase is even more powerful.