True Ventures

Lessons from cybersecurity exits

Dear F0und3r: What a month this has been for cybersecurity! One unicorn IPO and two nice acquisitions – Zscaler’s great debut on wall street,  a $300 million acquisition of Evident.io by Palo Alto Networks and a $350 million acquisition of Phantom Cyber by Splunk has gotten all of us excited. Word on the street is that in each of those exits, the founders took home ~30% to 40% of the proceeds. Which is not bad for ~ 4 /5 years of work. They can finally afford to buy two bedroom homes in Silicon Valley. Evident.IO Investment Rounds and Return estimates Date Select Investors Round Size Pre Post Dilution Estimated Returns / Multiple of Invested Capital Sep 2013 True Ventures $1.5m $5.25m $6.75 m 22% 44X Nov 2014 Bain Capital $9.8 m $18.1m $28.0 m 35% 10.7X Apr 2016 Venrock $15.7 m $35.0 m $50...

Founders Caterina Fake and Jyri Engeström make it official with a new venture fund, Yes VC

Caterina Fake and Jyri Engeström have much in common beyond the home and family they share. Each has started — and sold — two companies. Fake famously co-founded the photo-sharing site Flickr, which sold to Yahoo, before co-founding Hunch, which sold to eBay. Engeström co-founded Jaiku, a mobile social network that sold to Google, before co-founding Ditto, a mobile local recommendations app that was acquired by Groupon. Each has angel invested over the years. Fake wrote early checks to Kickstarter and Etsy, among tens of others; Engeström’s various bets include a startup called Applifier that sold to Unity Technologies; Moves, an activity tracking app acquired by Facebook; and the popular clothing label Betabrand. More recently, both Fake and Engeström were also beginning to see more oppor...