Portfolio Company Flirtey Raises $16M in Venture Capital to Accelerate Growth as a Pioneer in “Delivery as a Service” with Drones

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We were one of the first investors in Drone pioneer Flirtey in 2015. Since then the company has scored many firsts in the “Delivery as a Service” market, including some of the first flights approved by the FAA.

They have just raised their Series A round and it was led by Menlo Ventures and Qualcomm Ventures, who were also seed investors subsequent to our investment. This round was also joined by Chris Sacca’s Lowercase Capital, Y Combinator and World Innovation Lab, a firm that counts among its limited partners the Japanese airline ANA, Goodwater Capital, Amity Ventures and Partech Ventures.

Metacert raises $1.2 million to detect malware on enterprise bots like Slack, Microsoft Teams

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We invested in Metacert earlier this year along side TiE Angels and Sierra Angels, in a round led by Moneta Ventures.

Whether it’s a mobile app or an loT device, if it communicates over http, the MetaCert Security API can add a thin but very powerful layer of security to help protect consumers from malicious attacks over the Internet.

MetaCert’s patent-pending Security API checks the reputation of http requests in real time, warning consumers of potential threats before allowing known malicious web pages (or other resources) from loading inside the app. MetaCert also offers a content-based filtering service for developers that want to block pornography inside their apps.

Portfolio Company Aperia Technologies Raises New Round of 16M

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Aperia, who we invested in during 2011, has raised a new round of $16M. The funding was co-led by Municipal Employee Retirement System (MERS) of Michigan and eLab Ventures. eLab Ventures has a strong focus on transportation and mobility.  Aperia markets a revolutionary automatic tire inflation system for trucks & trailers that bolts-on in minutes. It provides increased fuel efficiency & extended tire life. Funds will be used primarily to invest in sales and marketing infrastructure and expansion of customer support operations in response to continued customer adoption across industry segments. You can see the press release here.

Sacramento Angels Invest in Bicycle Lighting Innovator Revolights

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Revolights_LogoRevolights, makers of next-generation bike lights, raised $1 million of Series A funding in a round led by Sierra Angels with the Sacramento Angels as co-lead. Other investors included The Herjavec Group (as a result of a Shark Tank presentation), San Joaquin Angels, Berkeley Angel Network, and two funds, Augment Ventures, and Northern California Investment Fund LLC.

The company’s first product is the patented and award winning Revolights bike lighting system. It consists of “smart” rings of LEDs which attach to a bike’s wheels and synchronize to the bike’s speed to provide: forward path illumination, an actual brake light (it blinks when you decelerate), and a huge increase in bright 360-degree visibility. That is a key bike safety differentiator. The addressable market in the USA and EU is estimated to be ~$1,500M+

Marrone Bio Innovations — An IPO for a Portfolio Company

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Marrone Bioinnovations -- make natural, effective, safe, environmentally friendly products the mainstream future of pest managementToday Marrone Bio Innovations (Symbol: MBII) of Davis had their initial public offering on the NASDAQ stock exchange. It was priced at $12/share and ended the day at $13.75.

SacAngel members first invested in the company in 2006 as part of MBI’s first round of funding (Series A). It is estimated from the company S-1/A filing with the SEC that those investors had a return in the range of 6.4x based on the closing price today (i.e., for every dollar invested, their return today, if they sold their stock, would be $6.4). Similarly, those that invested in subsequent Series B (2008) and Series C (2010-11)  financing rounds got returns of 3.9x and 3.6x, respectively.

SacAngels Invest in Eco-Friendly Utensil Company, EcoTensil

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EcoTensil_logoThe group invested in EcoTensil earlier this year along numerous other angel groups in a syndicated deal for $850K. There are a number of press releases on the web like this one, and below is a press release we received from the company.


ECOTENSIL CLOSES OVER-SUBSCRIBED SERIES A ROUND, ACHIEVES OTHER SIGNIFICANT BUSINESS MILESTONES

EcoTensil, Inc., maker of the most eco-friendly paperboard utensils available, announced that it has over-subscribed and closed its Series A round of financing, having raised in excess of $850,000.  The successful capital raise complements some other important business milestones, such as the shipment of the company’s first SpoonLidz on-package product, and the move into a new, larger office.

LARKSPUR, CA — May 9, 2013. Today, Peggy Cross, Founder & CEO, announced that the company has closed its Series A Preferred stock round. 

Portfolio Company Aperia Technologies Emerges at the Wall Street Journal ECO:nomics conference

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SacAngels members invested in Aperia Technologies as part of a deal led by the Sierra Angels with significant participation from the Band of Angels. According to the SEC Form D, the total raise was almost $700K.

Aperia have kept a pretty low profile since their funding while the product was developed and market development was initiated. Recently, more information about the company has emerged as the company CEO, Josh Carter, was invited to speak at the Wall Street Journal ECO:nomics conference in Santa Barbara (take a look at the program; it has some pretty impressive speakers).

Portfolio Company Glue Networks to unveil Cisco Virtual Office-as-a-Service

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Today we saw this press release about our Portfolio company, Glue Networks, new product, Cisco Virtual Office-as-a-Service (CVOaaS). They are showcasing  the product at Geek Day in Washington,US.

The new release automatically builds, maintains, monitors, and manages next-gen networks anywhere in the world, and delivers voice, video and real-time data applications for remote offices and employees with plug-and-play simplicity, error-free set up, military-grade security, and full network lifecycle management for a low monthly fee.

Portfolio Companies Welldog and Cloudcruiser in the News

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We invested Welldog about a year ago and they are now growing rapidly. See this recent press release about a A$4MM (about the same in US$) order for their services in Australia. Welldog provide data service to the coal mining and coalbed methane discovery industry.

We also invested in Cloud Cruiser almost two years ago and they continue to gain significant recognition in the Cloud computing space — they provide cloud cost intelligence solutions. They were recently selected “As One of 20 Coolest Cloud Software Vendors”. They join the likes of industry heavyweights Google, Oracle, Microsoft, Salesforce, Intuit, and SAP in that top 20 list. See the press release.