Portfolio
Our Portfolio
Featured Investments
Ancestry.com
- Entry Date: 2005
- Exit Date: 2009
- Outcome: IPO
Ancestry.com is the world’s largest online resource for family history; its mission is to help users discover, preserve and share their family genealogy. The foundation of its service is an extensive collection of historical records, which the company digitized, indexed and put online. Crosslink invested in Ancestry.com in 2005.
At the time of Crosslink’s investment, Ancestry.com was the clear market leader in online genealogical information space, with no meaningfully close competitors. The company charges an annual or monthly subscription to access the service, producing a valuable recurring-revenue base with high gross margins.
Crosslink was instrumental in bringing on Tim Sullivan as CEO and provided invaluable advice as the company prepared for its IPO in late 2009. Ancestry.com was later acquired in October 2012 by a group led by private equity firm Permira.
Bleacher Report
- Entry Date: 2010
- Exit Date: 2012
- Outcome: Acquired by Time Warner
Bleacher Report is the leading digital destination for team-specific sports content and real-time event coverage. Crosslink led a $10M investment in Bleacher Report in December 2010 and worked with the company to build a crowdsourced platform, disrupting ESPN and helping them to monetize pageviews. In August 2012, Time Warner acquired Bleacher Report for $200M.
BuildingConnected
- Entry Date: 2015
- Exit Date: 2019
- Outcome: Acquired by Autodesk (ADSK)
BuildingConnected is the leading construction bid-management platform that centralizes the bid management process, simplifying communication for subcontractors. Crosslink led an $8.5M investment in March 2015 and worked closely with the company to build a digital network in the construction industry. Autodesk acquired BuildingConnected for $275M in January 2019.
Casper
- Entry Date: 2014
- Exit Date: 2020
- Outcome: IPO (CSPR)
Casper Sleep is a direct-to-consumer e-commerce business selling mattresses and accessories online. Crosslink participated in Casper’s Series Seed financing in 2014. The company went public in 2020 under the ticker CSPR.
Coupa
- Entry Date: 2012
- Exit Date: 2016
- Outcome: IPO (NASDAQ: COUP)
Coupa is a SaaS-based procurement and expense management solution. Crosslink invested in Coupa in 2012 and supported its growth through its successful IPO on October 6, 2016, raising $133M.
Equinix
- Entry Date: 2003
- Exit Date: 2004
- Outcome: IPO (EQIX)
Equinix operates IBX centers that serve as core hubs for the Internet. Crosslink invested in Equinix in 2003 and assisted the management team in various strategic initiatives. The company went public in 2004.
Flo
- Entry Date: 2015
- Exit Date: 2020
- Outcome: Acquired by Moen
Flo is a smart home solution that detects and prevents home water damage, defined the market for smart home water leak prevention. Crosslink participated in the company’s seed round in 2015 and played a key role in shaping its growth.
Omniture
- Entry Date: 2006
- Exit Date: 2006
- Outcome: Acquired by Adobe Web Analytics
Omniture provided solutions for measuring site traffic and effectiveness of marketing initiatives. Crosslink invested in Omniture in 2006, and the company was acquired by Adobe in September 2009.
Pandora
- Entry Date: 2005
- Exit Date: 2011
- Outcome: IPO (P)
Pandora Media operates the leading Internet radio business in the U.S. Crosslink led the first institutional round in October 2005. The company went public and was later able to monetize its service through various means.
Personal Capital
- Entry Date: 2013
- Exit Date: 2020
- Outcome: Acquired by Empower Retirement
Personal Capital is a digital wealth management company that helps investors transform their financial lives. Crosslink invested in Personal Capital in 2013 and supported its growth through to its $1B acquisition by Empower Retirement in 2020.
Postmates
- Entry Date: 2011
- Exit Date: 2020
- Outcome: Acquired by Uber
Postmates operates an on-demand delivery platform, enabling customers to shop quickly. Crosslink first invested in Postmates’ seed round in November 2011. In July 2020, Uber announced its acquisition of Postmates for $2.65B.
ServiceMax
- Entry Date: 2012
- Exit Date: 2017
- Outcome: Acquired by GE
ServiceMax provides cloud-based field service management software. Crosslink led its first investment in November 2012, and GE Digital Systems closed on the acquisition for approximately $945 million in January 2017.
Verodin
- Entry Date: 2015
- Exit Date: 2019
- Outcome: Acquired by FireEye
Verodin empowers customers to measure cybersecurity effectiveness. Crosslink first invested in Verodin in its seed round in 2015 and was involved in shaping the initial executive team. The company was acquired by FireEye in 2019.
Vungle
- Entry Date: 2011
- Exit Date: 2019
- Outcome: Acquired by Blackstone
Vungle is the leading mobile in-app advertising platform. Crosslink supported Vungle through its seed round in 2011 and managed its sale process, resulting in a strategic bid acquisition by Blackstone for $773M in 2019.
Weave
- Entry Date: 2015
- Exit Date: 2021
- Outcome: IPO (NYSE: WEAV)
Weave provides customer communications and engagement software for small and medium-sized businesses.
Exits include mergers, acquisitions, and initial public offerings (“IPOs”); outcomes and investor returns may differ from transaction valuations.