Sorenson Ventures, a Palo Alto, CA- and Lehi, UT-based enterprise capital agency that invests in enterprise software program and safety firms, closed its second fund, at $150m.
Restricted companions in Sorenson Ventures II embrace foundations, endowments, funds of funds, a reinsurance firm, a pension fund, and company, a household workplace, and skilled particular person know-how, buyers.
A companion agency of Sorenson Capital, a development fairness agency targeted on the enterprise software programs and safety investments, Sorenson Ventures focuses on investing in early-stage firms in sectors that embrace developer instruments, machine studying functions, information infrastructure, administration platforms, and safety firms defending new assault vectors. The fund usually invests in firms on the Seed or Collection A-stages.
Based in 2017 by Ken Elefant and Rob Rueckert, Sorenson Ventures has invested in over 30 early-stage firms together with Socure, an identification verification platform; CyCognito, a cyber safety startup; Oyster, a distant hiring platform firm; Vendia, a real-time safe information sharing platform; MX, a data-driven finance resolution; Qualio, a top-quality administration system; and Through, a cellular commerce platform. The agency has already had a number of exits from its first fund, Sorenson Ventures I, together with Bridgecrew (acquired by Palo Alto Networks), CloudKnox (acquired by Microsoft), and Openpath (acquired by Motorola).
Along with Founding Companions Ken Elefant and Rob Rueckert, the Sorenson Ventures workforce embrace Vidya Raman, Eric Hilton, Michelle Moon, Bert Roberts, and Tony Spinelli.