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Venture Capital
forteventures.com

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Investments

36

Portfolio Exits

6

Funds

4

About Forte Ventures

Forte Ventures launched in January 2012 with a clear mission to deliver exceptional financial returns on a risk-reduced basis to limited partner investors by providing national visibility and privileged access to investment opportunities that are validated by a global network of strategic partners and corporate co-investors.Investments range from $100,000 up to $3 million and the firm leads, co-leads or actively participates in strong investor syndicates that typically include participation from leading corporate strategic partners and co-investors. Collaborating and co-investing with a strong network of corporate strategic partners reduces the risk of venture investing without sacrificing returns.

Forte Ventures Headquarter Location

3423 Piedmont Road NE Suite 520 (225A)

Atlanta, Georgia, 30305,

United States

702-703-4295

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Latest Forte Ventures News

10:00 EDT Sprockets Raises $10 Million to Fix a Hiring Process Plagued by Inefficiencies and Bias

Mar 28, 2022

News provided by Share this article Share this article This SC startup continues its path of hyper-growth after helping top brands find hiring success despite the labor crisis. CHARLESTON, S.C., March 28, 2022 /PRNewswire/ -- Today, Sprockets announced the closing of a $10 million Series A financing round, which enables the company to accelerate the transformation of a hiring process that's fundamentally failing the nation's hourly workforce. The round was led by Forte Ventures with participation from Healthy Ventures, Thayer Ventures, Lytical Ventures, Blu Ventures, and VentureSouth. $10 Million Raise Announcement Product Shot This SC startup continues a path of hyper-growth after helping top brands find hiring success despite the labor crisis. The investment comes after the SaaS company had tremendous success in helping companies thrive through the labor crisis and global pandemic. Sprockets' hiring solution reveals which applicants are the right fit for each business's needs, empowering them to build a strong and cohesive staff. "Many employers feel handcuffed by government stimulus payments, COVID-19 shutdowns, inflation, and generational changes to candidate behavior. These factors have led to unprecedented challenges for millions of workers nationwide," says AJ Richichi, founder and CEO of Sprockets. "There has never been a more dire time to change the broken hiring process that has stayed stagnant for years. This is the time for disruptive innovation." Sprockets' Applicant Matching System uncovers which potential hires share personality traits with a location's current top performers and assigns them "fit scores" from one to ten, depending on their likelihood of success. This enables customers to make smarter hiring decisions, ultimately improving employee retention by 43% and reducing time spent on the hiring process by 37%, on average. Richichi shares, "We are building a better way to hire hourly employees. Companies that deploy our software are statistically faster, less discriminatory, and less prone to error." Tom Hawkins, founder and managing partner of Forte Ventures, states, "The Sprockets technology solution is invaluable to hiring managers in QSR, hospitality, and multiple other industries with hourly workers. Imagine the change that Sprockets will have on worker satisfaction and career stability within a segment of the population that has historically been ignored by most of the HR tech players. We're excited to have led Sprockets' Series A financing and look forward to supporting the management team moving forward." Anya Schiess, co-founder and general partner at Healthy Ventures, adds, "Businesses need easier and faster ways of making good hires. Sprockets solves this problem with candidate-focused automation." Richichi concludes by sharing his gratitude and excitement for the future: "We're challenging a hiring process that's been static for hundreds of years, and we're being rewarded with great customer traction. We've been fortunate enough to work with some of the world's biggest brands, integrate with industry-leading technologies, and build a world-class team. We sincerely appreciate the overwhelming support from customers, partners, investors, and team members." This milestone is just the beginning of a solution that has massive potential to reshape the future of hiring. Visit Sprockets' website to learn more, follow their progress, and get a demo of the product: https://sprockets.ai . About Sprockets:  Sprockets is a hiring platform that helps businesses improve employee retention by finding the common thread between top-performing employees and incoming applicants. Their solution reveals what makes a location's best workers successful and identifies which potential hires possess the same attributes, empowering owners and operators to hire the ideal applicants every time. It's trusted by top brands to help them build strong, cohesive teams that will stay long-term. About Forte Ventures: With offices in Atlanta and Silicon Valley, Forte Ventures is a multi-stage venture capital firm that collaborates and co-invests with corporate strategic partners in technology companies throughout the U.S. and Canada. The team simultaneously focuses on helping entrepreneurs navigate the complexities of corporate investment and on serving as trusted partners to institutional and corporate strategic syndicate partners. For more information, visit www.forteventures.com SOURCE Sprockets

Forte Ventures Investments

36 Investments

Forte Ventures has made 36 investments. Their latest investment was in Sprockets as part of their Series A on March 3, 2022.

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Forte Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/28/2022

Series A

Sprockets

$10M

Yes

3

2/14/2022

Unattributed VC

K4Connect

$12M

Yes

1

1/25/2022

Series B

Verusen

$25M

No

13

1/13/2022

Series D

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$99M

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10

12/10/2021

Series A

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$99M

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10

Date

3/28/2022

2/14/2022

1/25/2022

1/13/2022

12/10/2021

Round

Series A

Unattributed VC

Series B

Series D

Series A

Company

Sprockets

K4Connect

Verusen

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Amount

$10M

$12M

$25M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

3

1

13

10

10

Forte Ventures Portfolio Exits

6 Portfolio Exits

Forte Ventures has 6 portfolio exits. Their latest portfolio exit was Foghorn on January 12, 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

1/12/2022

Acquired

3

12/20/2021

Acq - Fin

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10

9/3/2020

Acquired

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$99M

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10

4/22/2020

Acquired

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10

2/13/2019

Acquired

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$99M

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10

Date

1/12/2022

12/20/2021

9/3/2020

4/22/2020

2/13/2019

Exit

Acquired

Acq - Fin

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

3

10

10

10

10

Forte Ventures Fund History

4 Fund Histories

Forte Ventures has 4 funds, including Forte Special Opportunities Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

9/2/2020

Forte Special Opportunities Fund

$4.75M

1

5/15/2013

Forte Ventures LP

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$99M

10

Forte Ventures II

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10

Parlay Capital Holdings

$99M

10

Closing Date

9/2/2020

5/15/2013

Fund

Forte Special Opportunities Fund

Forte Ventures LP

Forte Ventures II

Parlay Capital Holdings

Fund Type

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Status

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Amount

$4.75M

$99M

$99M

Sources

1

10

10

10

Forte Ventures Team

1 Team Member

Forte Ventures has 1 team member, including current Founder, Chief Executive Officer, Managing Partner, Thomas Hawkins.

Name

Work History

Title

Status

Thomas Hawkins

Arcapita, Siemens Venture Capital, Cordova Ventures, Radiant Systems, IBM, and Atlanta Braves

Founder, Chief Executive Officer, Managing Partner

Current

Name

Thomas Hawkins

Work History

Arcapita, Siemens Venture Capital, Cordova Ventures, Radiant Systems, IBM, and Atlanta Braves

Title

Founder, Chief Executive Officer, Managing Partner

Status

Current

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