San Diego-based Anametrix, a cloud-based provider of digital analytics for business customers, says today it has raised $4.4 million in a Series A round of funding from TVC Capital, the boutique PE firm that specializes in growth-stage software investments and buyouts.
The deal marks the first investment from the $75 million that San Diego-based TVC just raised for its second fund. With the investment, TVC co-founder and managing partner Steve Hamerslag is joining the Anametrix board.
The deal represents somewhat of a departure for TVC Capital. The firm usually avoids investments in early stage startups, and Anametrix will mark its third anniversary next month.
Yet in today’s statement, Anametrix says TVC’s investment decision was based on the startup’s accelerating growth, technology leadership, and its “seasoned executive team.” The company says it already has some Fortune 100 companies as customers, although it doesn’t name any names. Anametrix hasn’t disclosed its revenue, so it’s hard to tell how far the company has to go before it can attain founder Blaise Barrelet’s ambitious goal of becoming a billion-dollar business analytics company.
Anametrix says TVC also is looking to capitalize on synergies between Anametrix and Mercent, a Seattle-based provider of
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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