AI is now
Our view of the world
We are in a new era of intelligent software. With this shift comes new winners and new opportunities untouched by traditional SaaS.
This next generation of intelligent business applications will move beyond organizing the work to automating it, massively expanding the dollars available for tech companies.
The net impact of this innovation is a
transformation of the way we work.
CLOUD
$142B
Growth 30%
SOFTWARE
$419B
Growth 7%
AI expands software TAM
TECHNOLOGY
$3.7T
Growth 7%
WORLD GDP
$84T
Growth 3%
Software companies can now go beyond merely “eating” legacy software spend to going after the trillions of dollars currently spent on labor. This change requires rethinking architectures and business models.
We invest in companies at the forefront of major technology shifts
1999: SaaS
The late nineties saw the shift from on-premise application software to SaaS, which would be the dominant trend for the next two decades. We led investments in Box, DocuSign, RingCentral, ExactTarget, Bill.com, Hubspot, and many other products that remain the industry standard today.
2010: Public cloud
To power the shift from enterprise data centers to the public cloud, companies needed a whole new set of development tools, systems management tools and security products, which led us to supporting infrastructure-focused teams at CircleCI, JFrog, BigID, Expel, AppOmni, and Honeycomb.
2017: AI-first
In 2017, we identified the rise of AI as the next dominant trend, ushering a new era of what we started referring to as intelligent software. Since then, 70%+ of our new investments have included some form of AI in the product.
Our portfolio companies like Forter and Socure built their own machine learning models to keep our credit card information and identities safe from those who wish to do us harm.
Computer-vision based companies like Viz.ai and Proscia help doctors and other healthcare professionals reduce time to treatment.
NLP-centric companies like Observe AI, Regie AI, and Textio augment the workflows of customer support, sales, and HR professionals.
We believe the technology sector is only in the early innings of a new software supercycle catalyzed by companies adding intelligence to software.
We couldn’t be more excited to work with the entrepreneurs leading the change.