Sierra Ventures Venture Capital Investment Overview

Sierra Ventures is a venture capital firm that has been investing in technology startups since 1972. They have a long history of supporting innovative companies.

The firm has invested in over 300 companies, including some notable successes like Apple, Cisco Systems, and Sun Microsystems. This impressive track record has earned them a reputation as a reliable and savvy investment partner.

Sierra Ventures focuses on investing in early-stage companies, typically at the Series A or B round, and provides guidance and support to help them grow and scale.

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Sierra Ventures has made some impressive investments in various companies.

Their portfolio includes Calyptia, which was acquired on January 22, 2024, after being first invested in on March 1, 2022, with a seed round of $5 million.

One notable acquisition was Akasha Imaging, acquired on June 1, 2023, following a Series A investment on December 9, 2020, worth $10.7 million.

Zycada Networks was also acquired by Sierra Ventures, on April 1, 2023, although the exact investment details are not available.

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Deep Lens was acquired on January 28, 2023, after a seed round investment on October 12, 2018, worth $3.2 million.

Qeexo was acquired on January 4, 2023, following a Series A investment on March 17, 2015, worth $2.9 million.

Here are some key details about Sierra Ventures' investments:

Sierra Ventures has a Partner named Shashank Saxena.

Shashank Saxena is the Partner of Sierra Ventures.

Sierra Ventures has 2 strategic partners and customers, including Cooley. They recently partnered with Cooley on September 9, 2023.

Here are the details of Sierra Ventures' partners and customers:

Sierra Ventures has 3 service provider relationships.

Sierra Ventures has a total fund size of $1.3 billion, which is a significant amount that allows the firm to invest in a variety of startups.

The firm's investment strategy focuses on investing in the best entrepreneurs and companies in the world, with a goal of creating long-term value for its investors.

Sierra Ventures has invested in over 400 companies, including some well-known names in the tech industry.

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Let's take a look at the annual revenue of some of these venture capital firms.

The Sierra Ventures annual revenue was $20.6 million in 2025.

Sierra Ventures' annual revenue is a significant amount, but it's worth noting that it's not the highest among venture capital firms.

The annual revenue of Sierra Ventures is a fraction of what some of the bigger firms are making, but it's still a respectable amount.

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As we explore the financials of Sierra Ventures' portfolio, it's worth noting that the firm has been involved in several successful IPOs.

Zeta Global went public on June 10, 2021.

VeriSilicon's IPO occurred on August 21, 2020, after the firm received $14.8 million in its Series C round of investment in 2006.

Elastic's IPO took place on October 5, 2018.

Theravance Biopharma went public on May 20, 2014.

MakeMyTrip's IPO happened on August 12, 2010, after the firm received $13 million in its Series B round of investment in 2006.

Here's a quick rundown of the IPOs and public companies in Sierra Ventures' portfolio:

Sierra Ventures' Fund XIII exceeded its target at $265 million.

The firm has a disciplined model of right-sized funds to focus on early investment in top B2B companies across North America.

Sierra has raised three top-performing funds since 2012 under the leadership of Managing Partners Mark Fernandes, Tim Guleri, and Ben Yu.

The firm thoughtfully grows fund size to match its focus on Seed and Series A stages, continuing this strategy with Fund XIII.

Sierra's CXO Advisory Board, now in its 18th year, provides invaluable advice from over 75 Fortune 1000 technology executives to portfolio companies.

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Sierra Ventures' portfolio exits are a testament to the firm's successful investments. The table below highlights some of the notable exits.

The exits demonstrate Sierra Ventures' ability to identify and support innovative companies that go on to achieve significant milestones. The firm's focus on early-stage investments has allowed it to participate in the growth of companies like MakeMyTrip and VeriSilicon.

Sierra Ventures generally invests in companies at various stages, with a clear preference for some over others.

The majority of their investments are made at the Series A stage, with a total of 69 investments.

Seed investments are also a significant part of their portfolio, with 44 investments made at this stage.

Series B investments are less common, but still a notable portion of their investments, with 36 companies receiving funding at this stage.

Series C investments are fewer in number, with 22 companies receiving funding at this stage.

Series D investments are relatively rare, with only 3 companies receiving funding at this stage.

In addition to these stages, Sierra Ventures also makes investments in companies that don't fit into these categories, with 4 such investments made.

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Sierra Ventures invests in a variety of sectors, but some stand out as their primary focus. Enterprise Applications is one such sector, with 105 investments made by the firm.

Here are the sectors Sierra Ventures invests in, along with the number of investments made in each:

These sectors are not just random investments, but rather a deliberate focus on areas where Sierra Ventures sees potential for growth and success.

The countries of investment are primarily focused on Asia, with a significant portion of investments going towards China, Japan, and South Korea. These countries have a strong economy and a growing middle class, making them attractive destinations for investors.

China is a key player in the region, with a GDP of over $14 trillion and a growing consumer market. The country's one-child policy has led to a rapidly aging population, creating a need for social security and healthcare investments.

Japan has a highly developed economy with a GDP of over $5 trillion, and a unique cultural landscape that makes it an attractive destination for investors looking for a stable and secure environment.

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South Korea is another important country in the region, with a GDP of over $1.5 trillion and a highly educated workforce. The country's strong technology sector has made it a hub for innovation and entrepreneurship.

Investors looking to diversify their portfolio can also consider countries in Southeast Asia, such as Indonesia and the Philippines, which have a growing middle class and a strong economic growth potential.

The NAICS code for Sierra Ventures is 52, 5239, and 523.

Understanding the NAICS code is crucial for investors and researchers alike.

These codes specifically categorize Sierra Ventures as a company involved in the finance and insurance sector.

The SIC code for Sierra Ventures is 67 and 679.

Investors should note that SIC codes can vary depending on the industry and company.

Sierra Ventures recently announced the closing of their 13th fund, Fund XIII, at a whopping $265 million, exceeding its target.

This isn't the first time Sierra Ventures has exceeded its target fund size, as seen in their previous funds. For example, Fund XII closed at $215 million, a significant amount for an early-stage venture capital fund.

Sierra Ventures has a disciplined approach to fund size, focusing on being an early investor in the best B2B companies across North America at the seed and Series A stages.

Their strategy has paid off, with three top-performing funds since 2012 under the leadership of current Managing Partners Mark Fernandes, Tim Guleri, and Ben Yu.

Here's a list of Sierra Ventures' recent funds, including their closing dates and amounts:

Sierra Ventures' CXO Advisory Board, now in its 18th year, has provided invaluable advice from over 75 Fortune 1000 technology executives to portfolio companies.

Sierra Ventures has a long history of managing funds, with a total of 17 funds under its belt.

The first fund mentioned in the article is Sierra Ventures XIII, which closed on September 12, 2023, with an amount of $265 million.

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Sierra Ventures has a mix of closed and undisclosed funds. For instance, Sierra Ventures XII and Sierra Ventures XI are both closed early-stage venture capital funds, with $215 million and $170.9 million in funding, respectively.

The funds have been invested over the years, with the earliest one mentioned being Sierra Ventures IX-A, which closed in 2006.

Here's a breakdown of the funds:

Cimulate, a leader in enterprise AI for commerce, has raised $28 million in Series A funding led by Spark Capital.

The funding will accelerate Cimulate's mission to revolutionize commerce by offering transformative customer experiences through scalable personalization.

Cimulate has created the industry's first Commerce Experience Server, empowering retailers to deliver hyper-optimized content and context-aware search and discovery experiences.

CustomerGPT, the Large Language Model-based operating system at the platform's core, addresses the limitations of legacy commerce technologies, enabling faster, more relevant, and conversion-driven shopping interactions.

CustomerGPT has delivered improvements in engagement above 20% and conversion above 10%.

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Cimulate's Commerce Experience Server addresses the challenge of hundreds of billions lost annually to search abandonment in the commerce industry.

John Andrews and Vivek Farias, industry veterans with a track record of success in AI-powered retail innovation, created Cimulate.

Their vision and technical expertise form the foundation of Cimulate's revolutionary approach to enterprise AI, enabling the company to establish itself as a leader in providing tailored solutions that redefine how businesses interact with customers.

The commerce ecosystem is at a crossroads, with traditional search technologies failing to meet the expectations of modern consumers, according to John Andrews, CEO and Co-Founder of Cimulate.

Cimulate's ability to deliver a scalable LLM-based solution immediately positions them as a leader in AI-driven commerce, according to Alex Finkelstein, Partner at Spark Capital.

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Sierra Ventures has a total of 17 funds, with the most recent one being Sierra Ventures XIII, which closed at $265 million in September 2023.

The firm has a disciplined approach to fund management, focusing on being an early investor in the best B2B companies across North America at the seed and Series A stages.

Their funds have a good track record, with three top-performing funds raised since 2012 under the leadership of Managing Partners Mark Fernandes, Tim Guleri, and Ben Yu.

Sierra Ventures has also generated top-performing funds by being the first investor in unicorns like Reify Health, Phenom, and Astronomer.

Here are the details of their recent funds:

The firm has also built an industry-leading CXO advisory board, with over 75 Fortune 1000 CIOs, CTOs, CMOs, and CISOs providing valuable advice to portfolio companies.