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Level Equity company logo
Growth Equity
levelequity.com

Investments

83

Portfolio Exits

22

Funds

7

Service Providers

1

About Level Equity

Level Equity aims to invest in high-growth software, media, and internet businesses. Level Equity is based in New York but will evaluate investment opportunities worldwide in its target industries. The firm aims to find investments where they see product and technology innovations that are growing or have the potential to grow quickly and are targeting large markets. Level Equity was founded in 2009 and is based in New York, New York.

Headquarters Location

140 East 45th Street Two Grand Central Tower, 42nd Floor

New York, New York, 10017,

United States

212-660-2470

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Latest Level Equity News

Chronus Announces Former UserTesting Executive David Satterwhite as New CEO

Sep 8, 2023

3 minute read SEATTLE–(BUSINESS WIRE)– #Chronus — Chronus , the leader in mentoring software, today announced the appointment of David Satterwhite as its new CEO. Satterwhite succeeds Seena Mortazavi who has led Chronus since 2015 after acquiring the business from the original founders via a Search Fund. Mortazavi will remain as an investor and an active member of Chronus’ board of directors. During Mortazavi’s 8-year tenure, he grew revenue more than 7x, taking the company to a successful exit with Level Equity in 2021, and establishing it as the market leader in the mentoring software industry. Under his leadership, Chronus has created more than 800,000 mentoring connections and positively impacted the lives and career development of millions of users through its state-of-the-art technology focused on human connection and equitable workplaces. Mortazavi said he is feeling called to go back into the entrepreneurial world and use his experience with Chronus to help other purpose-driven businesses transform people’s lives. “After reaching new milestones with our partners at Level Equity, I’m excited to be handing the reins over to David and continuing to support Chronus as an active member of the board while I pursue other entrepreneurial opportunities,” Mortazavi said. “Having interviewed numerous candidates, David’s success in growing and scaling companies, plus his passion for mentoring, developing others and strong commitment to DEI made him the best candidate for the role.” Satterwhite is a culture-first leader who has spent the majority of his career to date building, developing and leading organizations, earning the loyalty of customers and helping bring great technology and solutions to market. He has served as a go-to-market executive, building and scaling teams from the pre-revenue stage to over $300 million ARR for more than 20 years at companies like newScale (acquired by Cisco), Good Technology (acquired by Blackberry), PubNub, Act-On Software and UserTesting (acquired by Thoma Bravo). Most recently as chief revenue officer at UserTesting, he helped lead the company to a successful IPO in 2021 and subsequent acquisition. Throughout his career, Satterwhite has had a consistent passion and focus on leadership through people development, management excellence and mentorship. “When I was introduced to Chronus’ mission of developing employees, teammates and leaders through mentorship, it was love at first sight,” Satterwhite said. “I am on a mission to help customers exponentially increase their employee engagement, which drives exponential growth. I’ve seen this happen throughout my career. An employee who is engaged and thriving on your team delivers massive positive results for your company. That’s our focus at Chronus. I want to continue helping companies build thriving, engaged workforces through mentorship, development and leadership.” About Chronus Chronus empowers the world’s top enterprises to shape a future-ready workforce, delivering mentoring software that unleashes the full potential of their people. Powering thousands of programs for millions of people, Chronus has been the market maker and innovator in mentoring software since the company was founded in 2007. The most innovative organizations in the world, such as Amazon, Shell, Cincinnati Children’s Hospital, Baker Tilly and Uber rely on Chronus every day to power their inclusive and future-ready mentoring programs. Follow Chronus on LinkedIn or on Twitter @ChronusSoftware , and like us on Facebook . Contacts

Level Equity Investments

83 Investments

Level Equity has made 83 investments. Their latest investment was in RocketRez as part of their Series B on January 1, 2023.

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Level Equity Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/31/2023

Series B

RocketRez

$15M

Yes

3

12/6/2022

Series E

Evaneos

$21M

No

2

11/15/2022

Growth Equity

GovInvest

$4M

No

3

8/1/2022

Series B

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$99M

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10

5/31/2022

Series B

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$99M

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10

Date

1/31/2023

12/6/2022

11/15/2022

8/1/2022

5/31/2022

Round

Series B

Series E

Growth Equity

Series B

Series B

Company

RocketRez

Evaneos

GovInvest

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Amount

$15M

$21M

$4M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

3

2

3

10

10

Level Equity Portfolio Exits

22 Portfolio Exits

Level Equity has 22 portfolio exits. Their latest portfolio exit was Groove on August 14, 2023.

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

8/14/2023

Acquired

$99M

1

4/26/2023

Acq - Fin

$99M

3

4/25/2023

Acquired

$99M

3

4/7/2022

Acquired

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$99M

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10

12/7/2021

Reverse Merger

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$99M

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10

Date

8/14/2023

4/26/2023

4/25/2023

4/7/2022

12/7/2021

Exit

Acquired

Acq - Fin

Acquired

Acquired

Reverse Merger

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

3

3

10

10

Level Equity Acquisitions

4 Acquisitions

Level Equity acquired 4 companies. Their latest acquisition was TeamDynamix on December 21, 2022.

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

12/21/2022

Private Equity

$99M

Acq - Fin - II

4

10/26/2021

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$99M

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10

12/18/2017

Growth Equity

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$99M

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10

12/31/2012

Other

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$99M

$99M

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10

Date

12/21/2022

10/26/2021

12/18/2017

12/31/2012

Investment Stage

Private Equity

Growth Equity

Other

Companies

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Valuation

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acq - Fin - II

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Sources

4

10

10

10

Level Equity Fund History

7 Fund Histories

Level Equity has 7 funds, including Level Equity Structured Capital II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/22/2023

Level Equity Structured Capital II

$157.5M

1

10/2/2018

Level Equity Opportunities Fund 2018

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$99M

10

10/2/2018

Level Equity Growth Partners IV

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$99M

10

4/26/2016

Level Equity Growth Partners III

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10

12/10/2013

Level Equity Growth Partners II

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$99M

10

Closing Date

3/22/2023

10/2/2018

10/2/2018

4/26/2016

12/10/2013

Fund

Level Equity Structured Capital II

Level Equity Opportunities Fund 2018

Level Equity Growth Partners IV

Level Equity Growth Partners III

Level Equity Growth Partners II

Fund Type

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Status

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Amount

$157.5M

$99M

$99M

$99M

Sources

1

10

10

10

10

Level Equity Service Providers

1 Service Provider

Level Equity has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Series B

Counsel

General Counsel

Service Provider

Associated Rounds

Series B

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

Level Equity Team

3 Team Members

Level Equity has 3 team members, including current Founder, Chief Executive Officer, Benjamin S. Levin.

Name

Work History

Title

Status

Benjamin S. Levin

Insight Partners, Greenwich Technology Partners, and Mentmore Holdings Corporation

Founder, Chief Executive Officer

Current

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Name

Benjamin S. Levin

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Work History

Insight Partners, Greenwich Technology Partners, and Mentmore Holdings Corporation

Title

Founder, Chief Executive Officer

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Status

Current

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