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Venture Capital
grotech.com

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Investments

315

Portfolio Exits

63

Funds

9

Service Providers

2

About Grotech Ventures

Grotech is an early investor in high-potential technology companies. Grotech Ventures initially invests from $500,000 to $5 million and looks to continue investing and building value throughout the growth life cycle.

Grotech Ventures Headquarter Location

3100 Clarendon Blvd Suite 200

Arlington, Virginia, 22201,

United States

703-637-9555

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Latest Grotech Ventures News

SturdyAI Raises $3.1 Million to Strengthen its AI-led Customer Intelligence and Automation Platform

Jun 28, 2022

News provided by Share this article Share this article Investments from Grotech Ventures and other strategic partners to support sales and marketing expansion and research and development of the company's AI-led customer intelligence and automation capabilities PORTLAND, Ore., June 28, 2022 /PRNewswire/ -- SturdyAI Inc., the provider of the AI-led customer intelligence and automation platform "Sturdy," today announced it raised $3.1 million in funding led by Grotech Ventures. The infusion of capital will empower Sturdy to continue its impressive early growth, broaden market awareness and strengthen its customer intelligence solution. SturdyAI's customer intelligence and automation solution empowers B2B SaaS companies and other subscription-based businesses to: SturdyAI Raises $3.1 Million to Strengthen its AI-led Customer Intelligence and Automation Platform Unify all sources of customer feedback like email, tickets, chats, call transcripts, surveys, and more, into a unified channel. Analyze all customer feedback for important business insights like churn triggers, contract requests, buyer changes, feature requests, quality of service issues, and more. Create just-in-time automations to drive insights to the people, teams, and systems that need them most to enable immediate actions. "SaaS companies collect a ton of information from their customers every day, but much of it fails to convert to useful and actionable data. Now using AI and automations businesses can proactively understand whether their customers are likely to churn, which features will entice them to renew, are they experiencing bugs, are they happy or not, and much more.," said Lawson DeVries, Managing General Partner, Grotech Ventures. "Customer retention and expansion are critical for SaaS businesses to maintain consistent growth trajectories, especially as we head into a more challenging environment for acquiring net new customers. Actionable customer intelligence is no longer a nice-to-have aspect for companies of all sizes – it is mission critical for businesses to thrive in today's market. Grotech has a long history in this segment of the software market, and we are proud to be a catalyst to help fuel Sturdy's continued strong growth and bring AI to companies that will need to do more with less now and in the future," continued Mr. DeVries. Mr. DeVries will join the Sturdy's board of directors, bringing over 20 years of software-focused venture investing and management experience with him. "Churn doesn't happen in a vacuum. It's a culmination of bug reports, feature requests, executive changes, response lags, unhappy sentiment, and more. Sturdy discovers the preemptive signals that help teams create more enduring relationships.," said Steve Hazelton, CEO and co-founder of SturdyAI. "Every SaaS company has a customer database of record, some have systems of action like customer success platforms but the critical component that most companies lack is a scalable system of intelligence — a system that listens to all of your customer feedback and routes the important things to the right people in the systems that they use every day. That is why we built Sturdy." About SturdyAI SturdyAI develops the AI-led customer intelligence and automation platform, Sturdy. The solution enables companies to leverage the power of AI and automation to build more durable and profitable customer relationships which improves dollar retention. Sturdy uses natural language processing and machine learning to help teams improve products, processes, relationships, and revenue by using the most valuable data they already have: the feedback they receive every day from customers. For more information about Sturdy visit SturdyAI . SOURCE SturdyAI

Grotech Ventures Investments

315 Investments

Grotech Ventures has made 315 investments. Their latest investment was in SturdyAI as part of their Seed VC on June 6, 2022.

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Grotech Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/28/2022

Seed VC

SturdyAI

$3.1M

Yes

4

5/25/2022

Series A

ShardSecure

$11M

Yes

2

2/10/2022

Seed VC

Sunstone Credit

Yes

1

2/8/2022

Series B - II

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$99M

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10

2/4/2022

Series A

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$99M

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10

Date

6/28/2022

5/25/2022

2/10/2022

2/8/2022

2/4/2022

Round

Seed VC

Series A

Seed VC

Series B - II

Series A

Company

SturdyAI

ShardSecure

Sunstone Credit

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Amount

$3.1M

$11M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

4

2

1

10

10

Grotech Ventures Portfolio Exits

63 Portfolio Exits

Grotech Ventures has 63 portfolio exits. Their latest portfolio exit was Perishable Shipping Solutions on June 07, 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

6/7/2022

Acquired

$99M

1

5/24/2022

Acquired

$99M

1

4/26/2022

Acquired

$99M

4

1/7/2022

Acquired

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$99M

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10

11/1/2021

Acquired

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$99M

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10

Date

6/7/2022

5/24/2022

4/26/2022

1/7/2022

11/1/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

1

4

10

10

Grotech Ventures Acquisitions

1 Acquisition

Grotech Ventures acquired 1 company. Their latest acquisition was A&W Restaurants on January 11, 1995.

Date

Investment Stage

Companies

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

Total Funding

Note

Sources

1/11/1995

Debt

$99M

$0.68M

Acq - Fin

1

Date

1/11/1995

Investment Stage

Debt

Companies

Valuation

$99M

Total Funding

$0.68M

Note

Acq - Fin

Sources

1

Grotech Ventures Fund History

9 Fund Histories

Grotech Ventures has 9 funds, including Grotech Ventures II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/13/2013

Grotech Ventures II

Early-Stage Venture Capital

Closed

$225M

2

6/17/2009

Grotech Ventures I

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$99M

10

10/1/2002

Grotech Partners VI LP

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$99M

10

5/18/1999

Grotech Partners V LP

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$99M

10

12/31/1994

Grotech Partners IV LP

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$99M

10

Closing Date

5/13/2013

6/17/2009

10/1/2002

5/18/1999

12/31/1994

Fund

Grotech Ventures II

Grotech Ventures I

Grotech Partners VI LP

Grotech Partners V LP

Grotech Partners IV LP

Fund Type

Early-Stage Venture Capital

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Status

Closed

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Amount

$225M

$99M

$99M

$99M

$99M

Sources

2

10

10

10

10

Grotech Ventures Service Providers

2 Service Providers

Grotech Ventures has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

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Service Provider

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Associated Rounds

Provider Type

Counsel

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Service Type

General Counsel

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Partnership data by VentureSource

Grotech Ventures Team

11 Team Members

Grotech Ventures has 11 team members, including current Founder, Managing General Partner, Frank Adams.

Name

Work History

Title

Status

Frank Adams

Founder, Managing General Partner

Current

Chuck Cullen

Chief Financial Officer, General Partner

Current

Sharon Gogol

Controller

Current

Lawson DeVries

General Partner

Current

Stephen M. Fredrick

Novak Biddle Venture Partners, Vantage, and IBM

General Partner

Current

Name

Frank Adams

Chuck Cullen

Sharon Gogol

Lawson DeVries

Stephen M. Fredrick

Work History

Novak Biddle Venture Partners, Vantage, and IBM

Title

Founder, Managing General Partner

Chief Financial Officer, General Partner

Controller

General Partner

General Partner

Status

Current

Current

Current

Current

Current

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