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Venture Capital
crv.com

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Investments

911

Portfolio Exits

242

Funds

26

Service Providers

1

About CRV

CRV (Charles River Ventures) is an investor in early-stage technology companies for more than forty years. CRV's investment partners, all of whom are experienced entrepreneurs and operators, are focused on helping to build world-changing companies that create tremendous value. CRV has recently led early investments in some of the biggest consumer and enterprise tech companies including Twitter, Yammer, Zendesk, and more. CRV has offices in Cambridge, MA and Menlo Park, CA.

Headquarters Location

300 Hamilton Avenue 3rd Floor

Palo Alto, California, 94301,

United States

650-687-5600

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Expert Collections containing CRV

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find CRV in 5 Expert Collections, including HR Tech.

H

HR Tech

65 items

S

Store management tech (In-store retail tech)

55 items

Startups aiming work with retailers to improve brick-and-mortar retail operations.

U

Unicorns- Billion Dollar Startups

114 items

T

Travel Technology (Travel Tech)

39 items

Tech-enabled companies offering services and products focused on tourism. This collection includes booking services, search platforms, on-demand travel and recommendation sites, among others.

E

Education Technology (Edtech)

58 items

Research containing CRV

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned CRV in 2 CB Insights research briefs, most recently on Jun 9, 2021.

Latest CRV News

Now That Charles River Ventures Has Closed Its 16th Fund, It Wants To Be Called CRV

Jul 14, 2014

Posted MakerBot Comes To Select Home Depot Stores Over more than four decades, Charles River Ventures has shown tremendous longevity in the venture world. With the close of its latest fund, the firm is trying to push a rebrand as CRV , emphasizing the growth in its Silicon Valley practice. Earlier this month we reported that the firm had closed its 16th fund, which was worth close to $400 million according to SEC documents . Well, the firm has confirmed that it closed that fund, which it will use to continue investing in early-stage startups. After 44 years in the business, you figure out what works and what doesn’t. CRV has had eight exits with $1 billion valuations or above over the last decade. Only Sequoia Capital, Greylock Partners, and New Enterprise Associates have as many so-called “unicorn” exits in the same time period. Since it also invests early, CRV’s wins tend to be outsized compared to the rest of the market to the market. It was the first institutional investor in companies like Twitter, Zendesk, and Yammer, for instance. The latest fund is a small step up from the last one it closed, which was for $375 million back in early 2012 . As a result, there are certain things that haven’t changed much for CRV. For one, the firm is singularly focused on investing in early-stage startups, at the Series A level. According to general partner Jon Auerbach, the $300-$400 million range is the sweet spot for a fund like CRV, as it gives the firm more than enough money to make follow-on investments in its winners. But it’s not so overcapitalized that the firm is forced to make growth investments or go off-model. CRV plans to invest in 25-35 companies over the three-year life of the fund, with the average amount invested in each company being around $10 million. But the bulk of the fund is held in reserve for it to back companies that will have those outsized exits — whether that means an IPO or an acquisition. What has changed over the years, and will continue with the new fund, is CRV’s increased investment in startups in Silicon Valley. Originally named after the river that runs between Boston and Cambridge, the firm has spent the last decade re-inventing itself with a Silicon Valley office. After decades of betting mostly on infrastructure companies that emerged out of the Boston area, CRV opened a Silicon Valley office in 2004 and has been steadily growing its presence there. With the close of the new fund, the firm is hoping to emphasize the new-look CRV, which is increasingly focused on investing in West Coast, consumer-focused startups. It has more partners in Silicon Valley than in Cambridge, and that mix is also reflected in the types of companies it’s invested in, and the types of companies that have had the most success in the last decade. “We believe there are a finite number of change-the-world entrepreneurs… and the place that they congregate is in San Francisco and Silicon Valley,” Auerbach said. Since most of its biggest recent wins were from investments in that area, it’s probably a smart bet to keep focusing there.

CRV Investments

911 Investments

CRV has made 911 investments. Their latest investment was in Archy as part of their Seed VC on November 11, 2022.

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CRV Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/7/2022

Seed VC

Archy

$10M

Yes

1

11/1/2022

Series A

Roots Automation

$10M

Yes

5

10/25/2022

Seed VC

Ciro

$3.8M

Yes

2

10/11/2022

Seed VC

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$99M

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10

10/11/2022

Series C

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$99M

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10

Date

11/7/2022

11/1/2022

10/25/2022

10/11/2022

10/11/2022

Round

Seed VC

Series A

Seed VC

Seed VC

Series C

Company

Archy

Roots Automation

Ciro

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Amount

$10M

$10M

$3.8M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

5

2

10

10

CRV Portfolio Exits

242 Portfolio Exits

CRV has 242 portfolio exits. Their latest portfolio exit was Gatsby on August 17, 2022.

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

8/17/2022

Acquired

$99M

11

7/5/2022

Acquired

$99M

3

5/17/2022

Acquired

$99M

3

3/1/2022

Acquired

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$99M

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10

11/4/2021

Reverse Merger

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$99M

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10

Date

8/17/2022

7/5/2022

5/17/2022

3/1/2022

11/4/2021

Exit

Acquired

Acquired

Acquired

Acquired

Reverse Merger

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

11

3

3

10

10

CRV Fund History

26 Fund Histories

CRV has 26 funds, including CRV XIX.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/7/2022

CRV XIX

$1,000M

1

10/7/2022

CRV Select II

$500M

1

7/16/2020

CRV XVIII

$600M

2

5/11/2018

CRV XVII

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$99M

10

7/2/2014

Charles River Partnership XVI

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$99M

10

Closing Date

10/7/2022

10/7/2022

7/16/2020

5/11/2018

7/2/2014

Fund

CRV XIX

CRV Select II

CRV XVIII

CRV XVII

Charles River Partnership XVI

Fund Type

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Status

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Amount

$1,000M

$500M

$600M

$99M

$99M

Sources

1

1

2

10

10

CRV Service Providers

1 Service Provider

CRV has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

CRV Team

30 Team Members

CRV has 30 team members, including current Chief Financial Officer, Adam Amero.

Name

Work History

Title

Status

Adam Amero

Chief Financial Officer

Current

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Name

Adam Amero

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Work History

Title

Chief Financial Officer

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Status

Current

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