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harmonyvp.com

Investments

73

Portfolio Exits

28

Funds

5

Service Providers

1

About Harmony Partners

Harmony Partners is a New York-based venture capital firm that invests in expansion stage tech companies.

Headquarters Location

7 W 18th Street 6th Floor

New York, New York, 10011,

United States

(332) 373-2300

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Latest Harmony Partners News

OfferFit: Automated Experimentation Platform Company Raises $25 Million

Dec 3, 2023

OfferFit – a marketing technology company empowering marketers to replace traditional A/B testing with automated experimentation – recently announced a $25 million Series B funding round led by Menlo Ventures. Ridge Ventures joined the round with earlier investors Canvas Ventures, Harmony Partners, Alumni Ventures Group, Carbide Ventures, and Burst Capital. Capital One Ventures (the strategic investment arm of Capital One) also participated in the round following Capital One’s success with OfferFit. JP Sanday from Menlo Ventures joined the board, with Alexander Rosen from Ridge Ventures joining as an observer. OfferFit will use this funding round to scale while also investing in product development. OfferFit’s reinforcement learning AI accelerates experimentation for lifecycle marketers as it continuously learns and adapts in response to customer actions. And enterprises such as MetLife, Foxtel Group, and Brinks Home have adopted OfferFit’s AI to automate experimentation. Companies have recognized that loyal customers can be powerful advocates and create a flywheel effect. And as costs to attract new customers skyrocket, referral sources and targeted campaigns that harness AI offer more efficient avenues for growth. KEY QUOTES: “Marketing is undergoing a tectonic shift. AI makes it easy to create content, but how do you measure what is effective? The real power comes from leveraging AI with automated experimentation. OfferFit is the torchbearer in this space, helping businesses leverage 1:1 personalization to optimize critical lifecycle marketing campaigns like cross-sell, upsell, retention, referral, and winback.” — JP Sanday, Partner at Menlo Ventures “Today, personalization is table stakes and leveraging AI-based experimentation platforms like OfferFit to automate learning is key to getting personalization right. This enables faster generation of data-driven insights into our customer preferences, allowing us to create more tailored offers and content, and lifting engagement.” — Aparna Sarin, Chief Marketing Officer for Business Cards & Payments at Capital One “We have invested in multiple successful AI companies, and we knew OfferFit had the potential to build a meaningful AI enterprise. OfferFit is on pace to triple this year, and they’ve never churned a customer, with every existing customer either expanding or in active discussions to do so.” — Mike Ghaffary, General Partner at Canvas Ventures – who led OfferFit’s Series A round “We’ll use this funding to continue to scale, of course. But we’ll also invest heavily in our product. We’re making OfferFit quicker and easier to deploy, and giving marketers more tools to leverage the insights they gain from automating experimentation.” — OfferFit’s co-founder & CEO George Khachatryan Sponsors

Harmony Partners Investments

73 Investments

Harmony Partners has made 73 investments. Their latest investment was in OfferFit as part of their Series B on November 11, 2023.

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Harmony Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/14/2023

Series B

OfferFit

$25M

Yes

3

10/12/2023

Series B

Jiraaf

$8.7M

Yes

Accel, Capital A, and Undisclosed Angel Investors

2

9/15/2023

Series A

Hiive

Yes

6

12/2/2022

Series A

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$99M

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10

9/27/2022

Series D

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$99M

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10

Date

11/14/2023

10/12/2023

9/15/2023

12/2/2022

9/27/2022

Round

Series B

Series B

Series A

Series A

Series D

Company

OfferFit

Jiraaf

Hiive

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Amount

$25M

$8.7M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Accel, Capital A, and Undisclosed Angel Investors

Sources

3

2

6

10

10

Harmony Partners Portfolio Exits

28 Portfolio Exits

Harmony Partners has 28 portfolio exits. Their latest portfolio exit was Chartbeat on July 25, 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

7/25/2022

Acq - Fin

$99M

1

2/28/2022

Acquired

$99M

3

2/24/2022

Merger

$99M

1

1/19/2022

Acquired

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$99M

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10

9/27/2021

Acquired

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$99M

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10

Date

7/25/2022

2/28/2022

2/24/2022

1/19/2022

9/27/2021

Exit

Acq - Fin

Acquired

Merger

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

3

1

10

10

Harmony Partners Fund History

5 Fund Histories

Harmony Partners has 5 funds, including Harmony Partners III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/23/2016

Harmony Partners III

Late-Stage Venture Capital

Closed

$105M

5

11/18/2014

Harmony Partners II

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$99M

10

11/18/2014

Harmony Partners II-A

10

3/14/2011

Harmony Partners Fund I LP

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$99M

10

Harmony Partners IV

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10

Closing Date

5/23/2016

11/18/2014

11/18/2014

3/14/2011

Fund

Harmony Partners III

Harmony Partners II

Harmony Partners II-A

Harmony Partners Fund I LP

Harmony Partners IV

Fund Type

Late-Stage Venture Capital

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Status

Closed

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Amount

$105M

$99M

$99M

Sources

5

10

10

10

10

Harmony Partners Service Providers

1 Service Provider

Harmony Partners 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

Harmony Partners Team

1 Team Member

Harmony Partners has 1 team member, including current Founder, Managing Partner, Mark Lotke.

Name

Work History

Title

Status

Mark Lotke

FTV Capital, Pequot Venture Capital, Internet Capital Group, LHS Group, General Atlantic, and Corporate Decisions

Founder, Managing Partner

Current

Name

Mark Lotke

Work History

FTV Capital, Pequot Venture Capital, Internet Capital Group, LHS Group, General Atlantic, and Corporate Decisions

Title

Founder, Managing Partner

Status

Current

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