SAN FRANCISCO, Oct. 4, 2016 /PRNewswire/ -- Zetta Venture Partners - the first fund focused on intelligent enterprise software - closed its second fund of $100 million, bringing total assets under management to $160 million.
Intelligent enterprise software computes huge volumes - one day, zettabytes - of data then learns from this data to analyze, predict and prescribe outcomes. Just as all industries came to run on software, software in every industry will become intelligent.
"Information technology is shifting from the workflow applications of the cloud computing era to those that help customers make decisions," said Ash Fontana, Managing Director at Zetta. "The source of competitive advantage is no longer just code; it's about proprietary data plus self-learning code."
Zetta Venture Partners formed in 2013 and since partnered with 16 early stage companies, typically as the first institutional investor. Those companies include Domo and InsideSales.com - both in the 2016 Forbes Cloud 100 - and Bebop, a company acquired by Google in 2015. All Zetta companies earned over $1 million of annualized revenue within one year of being funded. Zetta plans to partner with 20 more companies in this second fund.
"Our mission is to deliver outstanding returns for investors and entrepreneurs alike," said Mark Gorenberg, Managing Director at Zetta. "Our focus and stage are perfectly matched for entrepreneurs evolving their initial product and proprietary data into a strategic, more valuable business."
Zetta also announced that two-time data entrepreneur Josh James (Co-founder of Omniture and Founder of Domo) and Jeff Kearl (Founder of Stance) joined as Venture Partners to develop and support founding CEOs.
About Zetta Venture Partners
Founded in 2013, Zetta Venture Partners is the first fund focused on intelligent enterprise software and has $160 million under management. Current portfolio companies include Appdiff, Clearbit, Domo, Domino Data Lab, EventBoard, Focal Systems, InsideSales, Kaggle, Lilt, Lucid Design Group and Tractable.
Please visit www.zettavp.com For more information.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/zetta-closes-100m-expanding-the-first-fund-focused-on-intelligent-enterprise-software-300338889.html
SOURCE Zetta Venture Partners