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Venture Capital
coveraventures.com

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Investments

80

Portfolio Exits

28

Funds

3

About Covera Ventures

Covera Ventures is a venture capital firm focused on investing in early-stage technology companies with a primary focus on infrastructure, wireless and mobility, software, and technology-enabled service companies. Its team of experienced investment professionals is committed to working with entrepreneurs to build great companies that address unmet needs in the marketplace. In addition to providing capital, Covera leverages its broad industry knowledge, relationships and investment experience to complement the strengths of the entrepreneur. Covera Ventures' typical investments range between $1 million to $5 million, with additional capital available to support future expansion. The principals of Covera Ventures have a significant history and track record in building entrepreneurial companies.In August 14, 2009, the Hunt Ventures team of investment professionals spun out from Hunt Consolidated to form Covera Ventures. They continue to manage Hunt Ventures Fund I, a $100 million early-stage, technology venture capital fund.

Covera Ventures Headquarter Location

6836 Bee Caves Road Suite 275

Austin, Texas, 78746,

United States

512-79-5870

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Latest Covera Ventures News

Welsh Carson to Buy Alert Logic

Aug 20, 2013

Welsh Carson to Buy Alert Logic August 20, 2013 Follow @luisarbeltran Welsh, Carson, Anderson & Stowe has agreed to buy a majority of Alert Logic, along with company management. Financial terms weren’t announced. Selling shareholders include Updata Partners, Covera Ventures, Mercury Fund, OCA Ventures, Access Venture Partners, and Industry Ventures. Houston-based Alert Logic provides a portfolio of Security-as-a-Service solutions for customers of hosting and cloud service providers. Stifel, Nicolaus & Co.  provided financial advice to Welsh, Carson. PRESS RELEASE HOUSTON, TX – August 20, 2013 – Alert Logic ( www.alertlogic.com ), the recognized leader in Security-as-a-Service solutions for the cloud, and Welsh, Carson, Anderson & Stowe (“Welsh Carson”), a leading private equity firm, have entered into a transaction in which Welsh Carson and Alert Logic’s executive management will own a majority shareholder interest in Alert Logic. Selling shareholders include Updata Partners, Covera Ventures, Mercury Fund, OCA Ventures, Access Venture Partners, and Industry Ventures. Alert Logic’s existing management team, led by chairman, president and CEO, Gray Hall, will continue to operate the business. “Our partnership with Welsh Carson allows Alert Logic to continue increasing the scale of our business to meet the high demand for IT security in the cloud and in virtualized enterprise data centers,” said Hall. “Our strategic focus remains intact and this transaction brings improved access to capital and other resources, positioning us to expand our geographic footprint, strengthen our team and further accelerate growth in our market-leading cloud security offerings.” In connection with this transaction, Welsh Carson is also investing additional primary capital in the business. These new funds will be used to accelerate growth through both geographic and product line expansion. Geographic expansion is intended to include international markets over the next few years. Alert Logic specializes in providing a portfolio of Security-as-a-Service solutions for customers of hosting and cloud service providers. More than half of the largest managed hosting and cloud service providers use Alert Logic to secure their customer environments, making Alert Logic the market leader for securing infrastructure in hosted and cloud environments. “Alert Logic is uniquely positioned to capture the rapidly growing market demand for securing IT infrastructure in the cloud. We do not believe that any other company has Alert Logic’s ability to deploy such a broad portfolio of security solutions in any cloud environment, a multi-tenant SaaS delivery platform that has been proven to scale to big data proportions, or a large established channel of leading cloud and hosting service provider partners,” said Michael Donovan, a Welsh Carson General Partner. “These unique assets combined with a strong management team make Alert Logic an ideal platform for capturing market share in one of the fastest-growing segments of the global IT industry.”   Alert Logic announced last month that it recorded $10.1 million in GAAP revenue for the fiscal quarter ending June 30, 2013, representing a 43 percent increase over the same period in 2012. The Company is currently operating at an annual revenue run-rate of more than $43 million from more than 2,200 customers. Achieving this scale while maintaining this rapid growth rate validates Alert Logic’s ability to address the unique security requirements of customers of cloud service providers. Alert Logic’s Security-as-a-Service solutions provide customers four distinct advantages: market-leading security tools, a fully-managed SaaS delivery model, integrated 24×7 Security Operations Center (SOC) services to monitor and provide expert guidance, and the ability to deploy wherever a customer has IT infrastructure, including the cloud. The transaction is expected to close by the end of August. Morgan Stanley & Co. LLC served as exclusive financial advisor to Alert Logic on this transaction and Stifel, Nicolaus & Company, Inc. served as the exclusive advisor to Welsh Carson.  

Covera Ventures Investments

80 Investments

Covera Ventures has made 80 investments. Their latest investment was in Photobucket as part of their Series D - II on August 8, 2014.

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Covera Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/12/2014

Series D - II

Photobucket

$3.19M

No

1

3/6/2014

Series D

Photobucket

$8.42M

No

2

1/30/2014

Series B - II

Innography

$3.52M

No

2

8/10/2012

Debt - III

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$99M

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10

6/6/2012

Series F

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$99M

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10

Date

8/12/2014

3/6/2014

1/30/2014

8/10/2012

6/6/2012

Round

Series D - II

Series D

Series B - II

Debt - III

Series F

Company

Photobucket

Photobucket

Innography

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Amount

$3.19M

$8.42M

$3.52M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

1

2

2

10

10

Covera Ventures Portfolio Exits

28 Portfolio Exits

Covera Ventures has 28 portfolio exits. Their latest portfolio exit was Innography on November 30, 2015.

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

11/30/2015

Acquired

$991

4

10/11/2013

Acquired

1

10/10/2013

IPO

$991

3

00/00/0000

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10

00/00/0000

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10

Date

11/30/2015

10/11/2013

10/10/2013

00/00/0000

00/00/0000

Exit

Acquired

Acquired

IPO

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Companies

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Valuation

$991

$991

Acquirer

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Sources

4

1

3

10

10

Covera Ventures Fund History

3 Fund Histories

Covera Ventures has 3 funds, including Hunt Ventures I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/8/2008

Hunt Ventures I

$140M

1

4/24/2004

Hunt Ventures Fund I

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$99M

10

Covera Ventures Fund II

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$99M

10

Closing Date

6/8/2008

4/24/2004

Fund

Hunt Ventures I

Hunt Ventures Fund I

Covera Ventures Fund II

Fund Type

Subscribe to see more

Subscribe to see more

Status

Amount

$140M

$99M

$99M

Sources

1

10

10

Covera Ventures Team

4 Team Members

Covera Ventures has 4 team members, including current Managing Director, Steve Coffey.

Name

Work History

Title

Status

Steve Coffey

Managing Director

Current

Jeff Williams

Managing Director

Current

H. Berry Cash

Managing Director

Former

Ronald Nash

Pivot3, ExoLink, InterWest Partners, Dell Services, Aegis, Cerner, Electronic Data Systems, and U.S. Army

Managing Director

Former

Name

Steve Coffey

Jeff Williams

H. Berry Cash

Ronald Nash

Work History

Pivot3, ExoLink, InterWest Partners, Dell Services, Aegis, Cerner, Electronic Data Systems, and U.S. Army

Title

Managing Director

Managing Director

Managing Director

Managing Director

Status

Current

Current

Former

Former

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