Investments
1174Portfolio Exits
272Funds
18Partners & Customers
4Service Providers
2About Norwest Venture Partners
Norwest Venture Partners is a global venture capital and growth equity investment firm. The firm targets early to late stage venture and growth equity investments across a wide range of sectors including: technology, information services, business services, financial services, consumer products/services and healthcare.
Norwest Venture Partners Headquarter Location
525 University Avenue Suite 800
Palo Alto, California, 94301,
United States
650-321-8000
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CB Insights Intelligence Analysts have mentioned Norwest Venture Partners in 10 CB Insights research briefs, most recently on Jul 13, 2021.





Latest Norwest Venture Partners News
May 21, 2022
Velocity Global Raises $400 Million In Funding for Its Global Talent Solutions Published on May 20, 2022 Remote work is more popular than ever, with many companies moving toward a completely remote or hybrid workplace. But global talent is not always accessible. Enter Velocity Global, which can help people hire, manage, and pay talented people from around the world on one platform. Learn more about how Velocity helps companies hire global talents and see success from anywhere in the article below. DENVER, May 18, 2022 — Velocity Global, the leading provider of global talent solutions, announced today that it raised $400 million in its Series B funding round, increasing the company’s valuation seven-fold since the same time last year. This second round of funding is led by Eldridge and Norwest Venture Partners , which join Series A investor FFL Partners on Velocity Global’s board to lend their deep expertise in the areas of technology, future of work, and global scale. The company retains majority ownership, and founder Ben Wright continues as CEO and chair of the board of directors. “This is a pivotal moment for our company in the midst of a paradigm shift for employers and talent,” said Wright. “Access to work is no longer limited by borders or the star you are born under as the adoption of global talent accelerates. In March, we tripled the number of new supported talent on our platform compared to the same time last year, and the momentum continues to build. Eldridge and Norwest Venture Partners join FFL Partners to invest in people’s lives and the future of business. Massive kudos to our team for this achievement on our way to even greater heights.” Profitable since its founding in 2014, Velocity Global more than doubled its client roster over the past year, tripled the number of new supported talent on its platform, and will reach an annual net revenue run rate of $200 million by midyear as it continues to scale rapidly. “Velocity Global’s proven technology platform is positioned to transform the future of work, offering businesses a frictionless solution for building and expanding their teams,” said Todd Boehly, co-founder and CEO of Eldridge. “We are proud to partner with Ben and his team as demand continues to grow for best-in-class workforce solutions that support organizations looking to scale across the globe.” Parker Barrile, a partner at Norwest Venture Partners, joins the Velocity Global board as a director. Barrile is the former vice president of product at LinkedIn who oversaw 20-fold growth as the company went public. “Velocity Global has a rare mix of scale, growth, and profitability that attracted us to be part of the next phase,” said Barrile. “The company is led by a strong leadership team with an ambitious roadmap, and we look forward to partnering with them as they accelerate the future of work.” The company’s Global Work Platform™ seamlessly connects employers and talent worldwide through proprietary cloud-based talent management technology, personalized expertise, and unmatched global scale. The platform offers a full suite of talent solutions, including global Employer of Record (EoR) and Contractor Management, to help thousands of companies compliantly onboard, manage, and pay full-time and part-time talent, contractors, and freelancers in more than 185 countries and all 50 United States. Velocity Global serves more than 1,200 clients and over 7,000 supported employees worldwide. The Velocity Global team is more than 700 employees strong in 47 countries across six continents, with plans to more than double the number of employees by the end of the year. In 2021, the company successfully completed acquisitions of iWorkGlobal and Shield GEO that added capabilities to its Global Work Platform™. Velocity Global will use the funds to continue enhancing the customer experience for both businesses and talent. The company will make further strategic investments in technology, sales, and marketing, as well as potential future acquisitions, to execute on its vision to provide a frictionless solution for businesses and talent to work with anyone, anywhere, anyhow. FT Partners served as exclusive strategic and financial advisor to Velocity Global on this transaction. About Velocity Global Velocity Global accelerates the future of work for anyone, anywhere, anyhow. Its Global Work Platform™ simplifies the employer and talent experience through its proprietary cloud-based talent management technology, backed by personalized expertise and unmatched global scale. The platform offers a full suite of talent solutions, including global Employer of Record and Contractor Management, to help companies onboard, manage, and pay talent in more than 185 countries and all 50 United States. Thousands of brands rely on Velocity Global to build international teams without the cost or complexity of setting up foreign legal entities or state registrations. Velocity Global was named a “Leader” in Global Employer of Record Services by prominent analyst firm NelsonHall. Founded in 2014, the company has hundreds of employees across six continents. About Eldridge Eldridge invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media & Music, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge, please visit www.eldridge.com . About Norwest Venture Partners Norwest is a leading venture and growth equity investment firm managing more than $12.5 billion in capital. Since its inception, Norwest has invested in more than 650 companies and currently partners with more than 200 companies in its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across a wide range of sectors with a focus on consumer, enterprise, and healthcare. The Norwest team offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel. For more information, please visit www.nvp.com . Follow Norwest on Twitter @NorwestVP . The original announcement can be found on Velocity Global. Tags
Norwest Venture Partners Investments
1,174 Investments
Norwest Venture Partners has made 1,174 investments. Their latest investment was in Velocity Global as part of their Series B on May 5, 2022.
Norwest Venture Partners Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
5/19/2022 | Series B | Velocity Global | $400M | Yes | 3 | |
5/19/2022 | Series B | Noyo | $45M | Yes | 9 | |
4/27/2022 | Series A | Veza | $50M | Yes | Accel, Bain Capital, Ballistic Ventures, Enrique Salem, Google Ventures, Joe Montana, Karthik Rangarajan, Kevin Mandia, Lane Bess, Liquid 2 Ventures, Manoj Apte, Niels Provos, True Ventures, and Undisclosed Angel Investors | 8 |
4/26/2022 | Series C | |||||
4/26/2022 | Series D |
Date | 5/19/2022 | 5/19/2022 | 4/27/2022 | 4/26/2022 | 4/26/2022 |
---|---|---|---|---|---|
Round | Series B | Series B | Series A | Series C | Series D |
Company | Velocity Global | Noyo | Veza | ||
Amount | $400M | $45M | $50M | ||
New? | Yes | Yes | Yes | ||
Co-Investors | Accel, Bain Capital, Ballistic Ventures, Enrique Salem, Google Ventures, Joe Montana, Karthik Rangarajan, Kevin Mandia, Lane Bess, Liquid 2 Ventures, Manoj Apte, Niels Provos, True Ventures, and Undisclosed Angel Investors | ||||
Sources | 3 | 9 | 8 |
Norwest Venture Partners Portfolio Exits
272 Portfolio Exits
Norwest Venture Partners has 272 portfolio exits. Their latest portfolio exit was Leanplum on May 19, 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 |
---|---|---|---|---|---|
5/19/2022 | Acquired | 3 | |||
3/10/2022 | Acquired | 2 | |||
2/24/2022 | Acquired | 4 | |||
Norwest Venture Partners Acquisitions
13 Acquisitions
Norwest Venture Partners acquired 13 companies. Their latest acquisition was Clarus Commerce on July 08, 2019.
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 |
---|---|---|---|---|---|---|
7/8/2019 | Other Venture Capital | $30M | Acq - Fin - II | 2 | ||
5/9/2018 | Series A | $0.64M | Acq - Fin | 1 | ||
6/2/2015 | Debt | Acq - Fin | 1 | |||
4/21/2015 | Other Venture Capital | |||||
10/2/2011 |
Date | 7/8/2019 | 5/9/2018 | 6/2/2015 | 4/21/2015 | 10/2/2011 |
---|---|---|---|---|---|
Investment Stage | Other Venture Capital | Series A | Debt | Other Venture Capital | |
Companies | |||||
Valuation | |||||
Total Funding | $30M | $0.64M | |||
Note | Acq - Fin - II | Acq - Fin | Acq - Fin | ||
Sources | 2 | 1 | 1 |
Norwest Venture Partners Fund History
18 Fund Histories
Norwest Venture Partners has 18 funds, including Norwest Venture Partners XVI.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
12/14/2021 | Norwest Venture Partners XVI | $3,000M | 1 | ||
11/14/2019 | Norwest Venture Partners XV | Multi-Stage Venture Capital | Closed | $2,000M | 3 |
2/14/2018 | Norwest Venture Partners XIV | Multi-Stage Venture Capital | Closed | $1,500M | 2 |
1/20/2016 | Norwest Venture Partners XIII | ||||
5/13/2014 | Norwest Venture Partners XII |
Closing Date | 12/14/2021 | 11/14/2019 | 2/14/2018 | 1/20/2016 | 5/13/2014 |
---|---|---|---|---|---|
Fund | Norwest Venture Partners XVI | Norwest Venture Partners XV | Norwest Venture Partners XIV | Norwest Venture Partners XIII | Norwest Venture Partners XII |
Fund Type | Multi-Stage Venture Capital | Multi-Stage Venture Capital | |||
Status | Closed | Closed | |||
Amount | $3,000M | $2,000M | $1,500M | ||
Sources | 1 | 3 | 2 |
Norwest Venture Partners Partners & Customers
4 Partners and customers
Norwest Venture Partners has 4 strategic partners and customers. Norwest Venture Partners recently partnered with Inflectra on January 1, 2020.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
1/13/2020 | Partner | United States | According to Adam Sandman of Inflectra the partnership with NVP creates a compelling business proposition for Canadian firms looking to transitions their teams to a more contemporary , world-class software products in a swift , structured and professional manner using the local expertise and experience offered by NVP ... With Inflectra 's test and requirements management software SpiraTest and ALM suite SpiraTeam now in its virtual toolbox , `` NVP is looking to better serve their clients by providing recommendations that suit their Software Testing and Quality Assurance needs and provide the best and most effective way of improving their processes and product quality . '' | 1 | |
9/14/2017 | Vendor | ||||
3/6/2014 | Partner | ||||
2/11/2013 | Partner |
Date | 1/13/2020 | 9/14/2017 | 3/6/2014 | 2/11/2013 |
---|---|---|---|---|
Type | Partner | Vendor | Partner | Partner |
Business Partner | ||||
Country | United States | |||
News Snippet | According to Adam Sandman of Inflectra the partnership with NVP creates a compelling business proposition for Canadian firms looking to transitions their teams to a more contemporary , world-class software products in a swift , structured and professional manner using the local expertise and experience offered by NVP ... With Inflectra 's test and requirements management software SpiraTest and ALM suite SpiraTeam now in its virtual toolbox , `` NVP is looking to better serve their clients by providing recommendations that suit their Software Testing and Quality Assurance needs and provide the best and most effective way of improving their processes and product quality . '' | |||
Sources | 1 |
Norwest Venture Partners Service Providers
2 Service Providers
Norwest Venture Partners has 2 service provider relationships
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
Norwest Venture Partners Team
20 Team Members
Norwest Venture Partners has 20 team members, including current Chief Financial Officer, Matthew De Dominicis.
Name | Work History | Title | Status |
---|---|---|---|
Matthew De Dominicis | Highland Capital Partners, Liberty Mutual Group, and Ernst & Young | Chief Financial Officer | Current |
Jeff M. Crowe | Managing Partner | Current | |
Promod Haque | Managing Partner | Current | |
Matthew Howard | Managing Partner | Current | |
George Still Jr | Managing Partner | Current |
Name | Matthew De Dominicis | Jeff M. Crowe | Promod Haque | Matthew Howard | George Still Jr |
---|---|---|---|---|---|
Work History | Highland Capital Partners, Liberty Mutual Group, and Ernst & Young | ||||
Title | Chief Financial Officer | Managing Partner | Managing Partner | Managing Partner | Managing Partner |
Status | Current | Current | Current | Current | Current |
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