A global venture capital firm, New Enterprise Associates is one of the largest firms that work with entrepreneurs to build transformational companies around the world. They invest in numerous companies in different industries such as cryptocurrency, artificial intelligence, education, and many more. We have compiled a list of companies that topped New Enterprise Associates’ investment portfolio in 2021.
New Enterprise Associates
Venture capitalists are important for the parts they play in creating the modern computer industry. In a sea full of venture capital firms, only a few of them make massive progress in a very short time. Let us dive deep into the achievement of New Enterprise Associates:
About New Enterprise Associates
An American-based venture capital firm, New Enterprise Associates (NEA) focuses on investment stages ranging from seed stage via growth stage, covering an array of industry sectors. NEA is one of the largest venture capital firms with $25 billion in committed capital.
Founded in 1977 by C. Richard (Dick) Kramlich, Chuck Newhall, and Frank Bonsal, NEA has worked hard in scoring a place in the market. The previous experience of Chuck Newhall in managing an investment fund for T. Rowe Price in the 1970s was helpful for the company. In 1969, Kramlich had worked with noted venture capitalist Arthur Rock, and the other founder, Frank Bosnal was then an investment banker at Alex. Brown & Sons, where he focused on initial public offerings (IPOs) for startup companies. In 1981, NEA backed 3Com together with Jack Melchor and Mayfield Fund.
The earliest NEA investment fund had only $16 million of capital. In 1984, the firm’s second fund raised $45 million, and the third fund collected $125 million of commitments from investors. The firm kept on growing steadily during the 1980s and early 1990s. The company was raising $900 million from 1987 through 1996 across NEA’s subsequent four funds. The firm significantly increased its investment funds size after 1998, initially, starting with NEA-8, and the tenth fund had a whopping $2.3 billion of investor commitments in the year 2000. After raising more than $1.1 billion in 2004 for the firm’s eleventh fund. Next, NEA earned $2.3 billion and $2.5 billion for its subsequent two funds.
Further in 2010, NEA, with its thirteenth investment, had $2.5 billion of investor capital, which is the largest since the Financial Crisis of 2007–2008. NEA closed its fourteenth investment fund in 2012 with $2.6 billion of investor capital.
NEA closed its fifteenth investment in 2015 fund with $3.1 billion in investor capital, which is the largest venture capital fund ever raised. Furthermore, NEA closed its sixteenth investment fund in June 2017 with $3.3 billion in investor capital, which again declared the largest venture capital fund ever raised. Jeff Immelt, former CEO of General Electric, joined the firm as a venture partner in 2018.
Industries/Sectors New Enterprise Associates invests
New Enterprise Associates work with visionary entrepreneurs and business leaders to build genuinely transformational companies of the world.
A few of the firms that NEA invests in are mentioned below:
- Databricks – NEA invested in Databricks in 2014. Databricks offers a unified analytics platform, which is built by the team who created Apache Spark. The company accelerates innovation by unifying data science, engineering, and business.
- Bright Health group – Bright Health Group offers a more innovative, more relevant healthcare experience. The firm’s exclusive partnerships with leading health systems, affordable health insurance plans, and straightforward approach to technology are reshaping how people and physicians achieve better health together.
- Cloudflare – Cloudflare is a web performance and security company. The firm makes websites twice as fast, guards them against attacks, makes sure that they are always online, and makes it simple to add web apps with a single click.
- Desktop Metal – The company is involved in accelerating the transformation of manufacturing with end-to-end metal 3D printing solutions.
- Eargo – They improve the customer experience at every step of the hearing care journey with virtually invisible hearing aids, on-demand licensed hearing professionals, and an advanced personalized app.
Important New Enterprise Associates Investment’s Profile
The New Enterprise Associates includes the following companies:
Databricks is a business software company founded by the creators of Apache Spark. Delta Lake, MLflow, and Koalas are the open-source projects created by the company; they span data engineering, data science, and machine learning.
With a growth rate of more than 75%, the company raised nearly $3.6 billion. Along with this, and gained immense growth over the last few years. The company further gained a $10 billion increase since February with the addition of investors such as Amazon, Google, and Salesforce.
FTX is a cryptocurrency exchange platform that helps users to trade cryptocurrencies. The company is incorporated in Antigua and Barbuda and headquartered in The Bahamas. Currently, FTX has approximately a million users on their platform.
As of July 2021, the exchange is averaging $10 billion of the daily trading volume. The cryptocurrency exchange raised $420 million in the latest funding round valuing the company at $25 billion. With 69 investors, the firm raised huge fresh cash.
GoodLeap is a California-based finance technology company that offers financing options for the residential solar industry. The company was founded in 2003 as Paramount Equity and was later rebranded to Loanpal. In June 2021, the company rebranded to GoodLeap and is now America’s number one digital marketplace for sustainable solutions.
The company further announced an investment round of more than $800 million, placing its valuation at $12 billion. The proprietary technology platform of Goodleap is actively used by more than 17,000 sales professionals, which is creating an efficient option for financial institutions to locate their capital in high-performing ESG assets. The company has deployed over $9 billion in capital for sustainable home improvement products.
Metromile is a San Francisco-based technology startup that provides pay-per-mile car insurance, licenses a digital insurance platform to insurance companies worldwide, and gives a digitally native offering featuring innovative driving features, automated claims, and vehicle information.
The technology startup has raised a total of $510M in funding over 10 rounds. Their latest funding was raised on Feb 10, 2021, from a Post-IPO Equity round. Funded by 21 investors, the most recent investors of Metromile are New Enterprise Associates and ClearBridge Investments. Furthermore, the company has also acquired Mosaic Insurance Alliance on Sep 21, 2016, for $22M.
Patreon is an American membership platform offering business tools for content creators to run a subscription service. It assists creators and artists earn a monthly income by offering rewards and perks to their subscribers. Pateron was valued at $4 billion in its latest investment round, which is thrice its value since September as venture capitalists bet on startups that serve content creators.
The company raised $155 million in the latest round, led by new investor Tiger Global Management, with participation from Woodline Partners and several earlier investors, including Wellington Management, Lone Pine Capital, and New Enterprise Associates.
Top New Enterprise Associates Investments in 2021
|Si No||Company Name||Industry||Total Amount Invested||Total Value of Company||Month of Investment|
|2||Databricks||Analytics, AI, IT, SaaS||$1,000,000,000||$27,000,000,000||February|
|3||FTX Exchange||Cryptocurrency, Trading platform||$900,000,000||$18,000,000,000||July|
|4||GoodLeap LLC||Lending, Renewable Energy||$800,000,000||-||January|
|5||Plaid||Financial Services, FinTech||$425,000,000||$12,975,000,000||April|
|6||Collective Health||Health Care, Health Insurance||$280,000,000||$1,220,000,000||May|
|9||Patreon||Media and Entertainment||$155,000,000||$3,845,000,000||April|
|10||Strive Health||Health Care, IT||$140,000,000||-||March|
|11||TAE Technologies||Clean Energy, CleanTech||$130,000,000||-||April|
|12||Arcellx||Biopharma, Health Care||$115,000,000||-||April|
|15||Affinia Therapeutics||Biotechnology, Health Care||$110,000,000|
|17||Personal Genome Diagnostics||Analytics, Bioinformatics||$103,000,000||$500,000,000||February|
|18||Monte Rosa Therapeutics||Biotechnology, Medical||$95,000,000||-||March|
|19||Woebot Health||AI, Healthcare||$90,000,000||$491,000,000||July|
|21||Satsuma Pharmaceuticals||Biotechnology, Pharmaceutical||$80,000,000||-||March|
|22||Sagimet Biosciences||Biopharma, Biotech||$80,000,000||-||February|
|23||Genies||Internet, Media and Entertainment||$65,000,000||-||May|
|24||Splashtop||Enterprise Software, IoT, SaaS||$65,000,000||$950,000,000||January|
|25||KONUX||AI, IT, Machine Learning||€ 65,000,000||-||January|
|26||SetPoint Medical||Biotechnology, Health Care||$64,000,000||-||January|
|27||Sentry||Application Performance Management||$60,000,000||$940,000,000||February|
|28||Sitetracker||Cloud Infrastructure, SaaS||$42,000,000||-||January|
|29||Cleo||Employee benefits, Family||$40,000,000||$500,000,000||March|
|30||Timescale||Database, Information Services||$40,000,000||-||May|
|31||Block Renovation||Architecture, Interior Design||$39,500,000||$218,000,000||July|
|32||Theorycraft Games||Gaming, Media and Entertainment||$37,500,000||-||March|
|33||Nuvolo||Asset Management, Business Information Systems||$32,000,000||-||March|
|34||Maisonette||Children, E-commerce, Fashion||$30,000,000||$100,000,000||February|
|35||Dandelion Energy||Cleantech, Greentech||$30,000,000||$110,000,000||February|
|36||Spyglass Ophthalmics||Health Care, Health Diagnostics||$27,500,000||-||January|
|37||Willow||Healthcare, Wellness, Women||$26,800,000||$250,000,000||April|
|39||Narmi||Banking, Financial Services||$20,400,000||-||February|
|41||Rocket.Chat||Developer Tools, Messaging||$19,000,000||-||February|
|42||New Wave Foods||Advanced materials, Food and Beverage||$18,000,000||-||January|
|43||Rapid Robotics||Industrial Automation, Robotics||$12,000,000||$28,000,000||April|
|44||AllyAlign Health||Clinical trails, Health care||$10,000,000||-||June|
|45||Code Biotherapeutics||Biotechnology, Life Science||$10,000,000||-||April|
|46||ThreatQuotient||Analytics, Cyber Security||$9,500,000||-||April|
|47||Vori Health||Health care, Personal Health||$5,000,000||$205,000,000||July|
|48||API Inc.||Data Integration, Developer APIs||$4,500,000||$25,000,000||May|
|49||Merge||Data Integration, Developer APIs||$4,500,000||-||May|
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