Leaders Fund Q2 in Review
It’s exciting to be welcoming Q3 of 2021 with a wave of enthusiasm as we creep closer to normalcy and coming out of the pandemic.
As for how the last quarter went, let’s get right into it:
Ada Support raised a $130M Series C led by Spark capital, reaching a $1.2B valuation and solidifying their position as an industry leader in CX automation. We continue to be blown away by Ada’s growth and execution, and are excited for what the future has in store for them.
Drata raised a $25M Series A led by GGV Capital, after raising their seed and launching out of stealth only a few months ago. They have seen incredible demand for their solution which automates security and compliance processes, accelerating a company’s ability to become SOC 2 compliant, while minimizing the required effort. This round of funding will help Drata satisfy the incredible demand they’re seeing, expand their offerings to ISO 27001 and other compliance certifications, and ultimately help companies improve their security posture in a world where the risk of cyber crime is rising exponentially.
Big congrats to the Ada and Drata teams on their fundraises!
Leaders Fund also led two funding rounds into stealth companies this quarter:
Leaders led the Series A of a company in the construction software space, and led a round of funding into a company in the tax automation space. More coming soon on both of these announcements.
Additional Portfolio Updates
- Named as one of 2021’s Best Workplaces for Mental Wellness
- Named #13 on this year’s list of Canada’s Top 50 Best Workplaces
- Released the Seegrid Palion Tow Tractor, featuring enhanced path and surroundings comprehension, extended field of view and short clearance height
- Announced ‘Blue Labs’ R&D group — an internal team of computer vision experts — who are committed to discovering new and exciting pathways that transform material handling and automation
- The Washington Post featured Seegrid in a piece discussing how the eCommerce boom has accelerated the adoption of robotics automation in warehouses
- Received 2021 Top Workplaces USA Award
- Hired new key leadership roles, including Christina Cravens, SVP of Marketing and Steven Cooperman, VP Public Sector Sales
- Awarded two 2021 Global InfoSec Awards from Cyber Defense Magazine: Threat Intelligence and for Top Women in Cybersecurity
- Launched their new Managed Intelligence Service to provide security teams the support to scale operations, stay ahead of threats, and respond rapidly, augmenting their productivity by more than $275K per year.
- Did a deep dive into why the DBIR found that 61% of breaches involved compromised credentials.
- Teamed up with Chain Analysis to investigate why the Russian marketplace Hydra crypto transaction volumes jumped from $9.4M to $1.37B in just three years
- Analyzed the leaked documents indicating a second Iranian state-sponsored ransomware operation, “Project Signal”
- Welcomed Alexander Schwertner as VP of Product
- CEO Dan Holowack’s comments were featured in this article about promoting equitable development in travel
- Partnered with Visit California to promote local tourism in California
- Launched the Work Metaverse — a way for companies to create virtual campuses with the typical perks and activities that they might have during in-office times.
- Continued showcasing NFTs, including work from Beeple — the artist who sold his NFT back in March for $69M.
- Launched their Discord community with 350+ members
- Co-founder and CEO Anang Agarawala spoke with The Information about how Spatial is changing how we work
- The New York Times featured the Mars House, designed in Spatial by Krista Kim
- Forbes, Yahoo Finance, 60 Minutes and Input Magazine featured Spatial, highlighting their new web app and their activity in the NFT space and in 3D galleries
- Featured as one of the leading technology providers in the American Alliance of Museums’ Annual Meeting
- Featured in the Winery Management Software Market 2021 Industry Analysis for its role helping wineries manage guests and visitors
- Saw ROI rise by 36% to $16M and new membership by 54% in April
- Released an eBook exemplifying the ROI and use cases of Influitive’s top customers
- Sponsored the Forrester B2B Summit to facilitate connections between marketers, customer experience experts and analysts globally.
- Recognized by TrustRadius for two 2021 Top Rated Awards: Customer Advocacy and Community Software
Congratulations to all our portfolio companies on their achievements this past quarter. With more exciting news underway, we look forward to what Q3 will bring.
Enjoy the start of summer, all!
Onwards and upwards,
Leaders Fund Team