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Venture Capital
acorn-ventures.com

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Investments

18

Portfolio Exits

4

About Acorn Ventures

Acorn Ventures manages an investment fund and portfolio with broad coverage of emerging Internet, E-Commerce, Wireless Services and Software companies. Currently we are seeking investments for our $100,000,000 Acorn Ventures VI Fund in 2004. Acorn is affiliated with major Angel and Venture Capital Companies in Silicon Valley.

Acorn Ventures Headquarter Location

268 Bush Street Ste. 2829

San Francisco, California, 94014,

United States

650-994-7801

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Latest Acorn Ventures News

MetaBrite Raises $3M To Grow Its Machine Learning Receipt Scanning Tech

Feb 8, 2017

Email MetaBrite, the Seattle startup that has receipt scanning and business intelligence technology, recently raised $3 million from Acorn Ventures and existing investors. According to a  report , to date, the startup has raised $16 million in funding. MetaBrite has created  machine learning technology that is able to scan receipts and provide item-level details automatically to any retailer. It licenses the technology into a variety of consumer-facing mobile apps, noted the report. “Our application partners cover a wide variety of consumer use cases, including brand loyalty and reward programs, lifestyle apps and mobile consumer research, to name a few,” MetaBrite Chief Executive Court Lorenzini said in an interview. Currently, MetaBrite has 30 employees, which is an increase from 18 at the same time a year ago. It recently hired two new executives — one from Amazon, Leigh Allen-Arredondo, as director of design and a former BlackBerry executive Mark Meuleman as vice president of business development. While MetaBrite is growing, it’s not without competitors. Expense management and reporting software company  Xpenditure  announced in Oct. 2015 it secured $5.7 million in its Series A funding round. The company confirmed its new capital will be used to support growth initiatives and continue its vision to “rid the world of receipts and expense reports.” “What’s happening today is not the end but merely the beginning. While we have achieved much to date, we are now embarking on the next phase as we look to grow in Europe and beyond,” Xpenditure Cofounder and CEO Boris Bogaert said in a  company blog post  announcing the investment. “We will be doubling the team in the next four months and investing further in our technology, building an expense management solution that our customers continue to value as we strive to save our users time managing expenses,” he added. In the two years since the company started, Xpenditure has expanded its customer base across 40 countries, servicing anyone from big-name enterprise customers to SMBs and even freelancers.

Acorn Ventures Investments

18 Investments

Acorn Ventures has made 18 investments. Their latest investment was in Utrip as part of their Series A on February 2, 2017.

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Acorn Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/20/2017

Series A

Utrip

$4M

No

4

2/8/2017

Series A - II

MetaBrite

$2.2M

Yes

3

11/4/2016

Seed VC

Utrip

$3.42M

Yes

2

2/1/2016

Seed VC

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$99M

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10

4/22/2009

Unattributed

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$99M

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0

Date

2/20/2017

2/8/2017

11/4/2016

2/1/2016

4/22/2009

Round

Series A

Series A - II

Seed VC

Seed VC

Unattributed

Company

Utrip

MetaBrite

Utrip

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Amount

$4M

$2.2M

$3.42M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

4

3

2

10

0

Acorn Ventures Portfolio Exits

4 Portfolio Exits

Acorn Ventures has 4 portfolio exits. Their latest portfolio exit was MetaBrite on June 01, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/1/2018

Acquired

$99M

1

7/13/2004

IPO

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$99M

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0

9/25/2003

Acquired

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$99M

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0

12/15/1998

IPO

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$99M

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0

Date

6/1/2018

7/13/2004

9/25/2003

12/15/1998

Exit

Acquired

IPO

Acquired

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

0

0

0

Acorn Ventures Team

4 Team Members

Acorn Ventures has 4 team members, including current Chief Executive Officer, Cliff Girard.

Name

Work History

Title

Status

Rufus W. Lumry

Founder

Current

Cliff Girard

Chief Executive Officer

Current

Caren Seidle

Chief Financial Officer

Current

Scott Drum

Managing Director

Current

Name

Rufus W. Lumry

Cliff Girard

Caren Seidle

Scott Drum

Work History

Title

Founder

Chief Executive Officer

Chief Financial Officer

Managing Director

Status

Current

Current

Current

Current

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