Author: Margaret Kelsey

Business Insider: How software testing startup Cypress.io went from nearly broke with no revenue two years ago to winning big customers like Disney, Shopify, and Slack, with $40 million in fresh funding


This post is by Margaret Kelsey from OpenView


The post Business Insider: How software testing startup Cypress.io went from nearly broke with no revenue two years ago to winning big customers like Disney, Shopify, and Slack, with $40 million in fresh funding appeared first on OpenView.

OpenView Adds Sanjiv Kalevar to Investment Team


This post is by Margaret Kelsey from OpenView


Boston, MA – Nov. 17, 2020 – OpenView, a leading venture capital firm focused on business software, today announced the expansion of its investment team with the addition of Sanjiv Kalevar. With capital to invest from Fund VI, Sanjiv will lead investments and further build the firm’s portfolio of expansion-stage SaaS companies.

Sanjiv Kalevar brings a wealth of business software investing experience, joining OpenView from Battery Ventures, where he spent seven years, most recently as Principal. At Battery, Sanjiv built an impressive portfolio of successful software companies including unicorns ServiceTitan, and InVision, high-growth leaders such as AuditBoard and MX, as well as up and coming businesses like UpKeep and VNDLY while serving on the Board of Directors for Mews and Newforma. Prior to Battery, Sanjiv worked for global venture capital firm Bessemer Venture Partners and Hyde Park Angels, an early-stage angel investment group in Chicago.

“OpenView has been building a portfolio, a value-add platform, and thought leadership around product-led growth that has been resonating with founders, CEOs and the startup ecosystem,” said Sanjiv Kalevar.  “I’m excited to bring my experience and my keen interest of investing in overlooked and legacy industries that are yet to undergo a digital transformation to OpenView’s team to further grow our portfolio.”

Earlier this year, OpenView added Peter Weed to its operating team, to deepen the firm’s relationships with market-leading expansion-stage SaaS startups. Prior to Lumia, he spent over a decade at McKinsey & Company where he was a Partner and Co-Founder, Global Co-Head (Read more...)

OpenView Raises $450 Million for Sixth Fund


This post is by Margaret Kelsey from OpenView


BOSTON, Oct. 14, 2020 – OpenView, a leading venture capital firm focused on business software, announced the closing of its sixth fund at the end of the second quarter. The Fund was oversubscribed, reaching its hard cap of $450 million in commitments.

OpenView will maintain its focused strategy of high conviction, concentrated venture investments in business software companies on the path to be large and enduring businesses.

“We are excited to continue to partner with the world’s most promising software companies,” said Mackey Craven, Partner at OpenView. “We are particularly enthusiastic about businesses like Datadog and Calendly that embrace product led growth, an end user-focused growth model that relies on the product itself as the primary driver of customer acquisition, retention and expansion. This approach not only leads to sound businesses, but to products that more directly impact people’s working lives.”

OpenView will manage Fund VI on behalf of a diverse group of endowments, pensions, foundations, and financial institutions, among other investors.

“We are deeply honored by the continued support of our world-class limited partners who have been with us for years, as well as those we have welcomed to the OpenView family as part of Fund VI, and we are grateful for their shared alignment in OpenView’s mission of improving people’s working lives,” said John McCullough, Partner and CFO at OpenView. “Fund VI allows us to further increase our support of the best founders and executive teams while continuing to position OpenView as the partner of choice for the (Read more...)