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Venture Capital
miramardv.com

Investments

25

Portfolio Exits

6

Funds

2

About Miramar Digital Ventures

Miramar Digital Ventures (MDV) is a seed and early-stage fund uniquely focused on investing in the most promising founders and market disruptive ideas in the Modern Mobile sector. MDV is a new sector specific fund from the Miramar family of funds. We are located in Newport Beach, California and Park City, Utah but we invest in companies across North America as well as Hong Kong and mainland China.

Headquarters Location

2101 E. Coast Hwy Ste. 300

Corona Del Mar, California, 92625,

United States

949-760-4459

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Latest Miramar Digital Ventures News

NetRise: $8 Million Raised To Provide Visibility Into The XIoT Security Problem

May 2, 2023

NetRise – a company that is providing visibility into the world’s Extended Internet of Things (XIoT) security problem – announced $8 million in funding. This funding round was led by Squadra Ventures, with participation by existing major investors Miramar Digital Ventures, Sorenson Ventures and DNX Ventures. The company has developed a cloud-based SaaS platform that analyzes and continuously monitors the firmware of Extended Internet of Things (XIoT) devices. And leading the market as a software supply chain detection and response platform, NetRise enables device manufacturers and enterprise customers to detect, respond to, and prevent threats throughout their supply chains. This funding round will enable NetRise to expand its platform capabilities such as coverage for Windows systems and containers as well as the development of additional machine learning models for advanced analysis. As threats and vulnerabilities have been rising across the enterprise, commercial and consumer devices that are connected to the internet and each other are a critical blind spot for security operations and vulnerability management teams. And the firmware that powers these devices and allows them to connect to larger systems is critical for integrated functionality but creates a major vulnerability and neglected attack surface. By adding these additional capabilities, NetRise is going to continue to help both enterprise and device manufacturer customers to understand what’s inside not only their devices, but its entire software supply chain to identify potential risks and vulnerabilities. And the NetRise platform enables continuous monitoring and analysis, compliance assessment and recommendations, real-time risk tracking, and the generation, storage, and management of Software Bills of Materials (SBOMs). Plus NetRise reduces the time and cost of firmware and software supply chain security programs, allowing organizations to quickly find and remediate previously undetected issues. KEY QUOTES: “Firmware security is not a problem that is relegated to a particular vertical or industry. We have built our platform in such a way that support for automotive, networking equipment, consumer IoT, industrial control systems, and medical device firmware alike are all supported. While working at the Department of Energy, I saw firsthand how little insight we had into the vulnerabilities and risks embedded in technology critical to every aspect of our daily lives. Our vision is that every technology user understands the ingredients in their tools and the potential implications of those components, no matter the source.” Tom Pace, co-founder and CEO of NetRise “The NetRise platform delivers unprecedented automation and scale, making continuous monitoring a reality for enterprise XIoT. We are seeing massive global acceleration in the market as companies around the world are looking to drive visibility into the software supply chain. With SBOM regulation and requirements looming, NetRise could not be more perfectly positioned.” Adam Bixler, Cybersecurity Principal for Squadra Ventures “Tom and his team are experienced, gritty, driven, and will outwork anyone in the room. They are world-class and will continue to innovate ahead of the market and bring critical technology to the industry just in time, as the White House and other regulatory agencies pressure manufacturers and software providers to infuse security into devices and disclose critical vulnerabilities.” Guy Filippelli, Managing Partner at Squadra Ventures Trending on Pulse 2.0

Miramar Digital Ventures Investments

25 Investments

Miramar Digital Ventures has made 25 investments. Their latest investment was in NetRise as part of their Seed VC - II on April 4, 2023.

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Miramar Digital Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/25/2023

Seed VC - II

NetRise

$8M

No

3

10/11/2022

Seed VC

NumberOne AI

$13M

Yes

4

10/20/2021

Seed VC

NetRise

$6.82M

Yes

2

9/27/2021

Series A

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$99M

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10

6/12/2020

Series C

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$99M

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10

Date

4/25/2023

10/11/2022

10/20/2021

9/27/2021

6/12/2020

Round

Seed VC - II

Seed VC

Seed VC

Series A

Series C

Company

NetRise

NumberOne AI

NetRise

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Amount

$8M

$13M

$6.82M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

3

4

2

10

10

Miramar Digital Ventures Portfolio Exits

6 Portfolio Exits

Miramar Digital Ventures has 6 portfolio exits. Their latest portfolio exit was Thankful on July 13, 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

7/13/2023

Acquired

$99M

1

5/17/2023

Acquired - II

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$99M

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10

10/7/2021

Acquired

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$99M

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10

4/6/2020

Merger

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$99M

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10

12/10/2015

Acquired

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$99M

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10

Date

7/13/2023

5/17/2023

10/7/2021

4/6/2020

12/10/2015

Exit

Acquired

Acquired - II

Acquired

Merger

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

Miramar Digital Ventures Fund History

2 Fund Histories

Miramar Digital Ventures has 2 funds, including MDV SPV-S.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/27/2020

MDV SPV-S

$1.53M

1

3/3/2020

Miramar Digital Ventures II

$99M

10

Closing Date

11/27/2020

3/3/2020

Fund

MDV SPV-S

Miramar Digital Ventures II

Fund Type

Status

Amount

$1.53M

$99M

Sources

1

10

Miramar Digital Ventures Team

1 Team Member

Miramar Digital Ventures has 1 team member, including current Managing Partner, Bruce R. Hallett.

Name

Work History

Title

Status

Bruce R. Hallett

Brobeck Phleger & Harrison, and Morrison & Foerster

Managing Partner

Current

Name

Bruce R. Hallett

Work History

Brobeck Phleger & Harrison, and Morrison & Foerster

Title

Managing Partner

Status

Current

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