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Venture Capital
FINANCE | Investment Firms & Funds
nvp.com

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Investments

1174

Portfolio Exits

272

Funds

18

Partners & Customers

4

Service Providers

2

About 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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Expert Collections containing Norwest Venture Partners

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Norwest Venture Partners in 9 Expert Collections, including HR Tech.

H

HR Tech

65 items

V

Vitamin & Supplement Startups

237 items

U

Unicorns- Billion Dollar Startups

113 items

F

Food & Beverage

123 items

W

Wearable Computing

16 items

Wearable computing is broadly defined to include companies developing electronics devices worn or placed on the body and equipped with technology that can range from wearable medical devices to AR/VR headsets to GPS pet collars, among other examples. We include any company with a

W

Wellness Tech

31 items

Consumers are increasingly seeking products and experiences that promote well-being and healthy habits, with modern-day “wellness” referring to holistic healthy living characterized by physical, mental, social, and spiritual well-being.This collection includes categories across h

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Latest Norwest Venture Partners News

Velocity Global Raises $400 Million In Funding for Its Global Talent Solutions

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.

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Norwest Venture Partners Investments Activity

investments chart

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

8

4/26/2022

Series C

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$99M

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10

4/26/2022

Series D

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$99M

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10

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

Subscribe to see more

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Amount

$400M

$45M

$50M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

3

9

8

10

10

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

$99M

4

1/13/2022

Acquired

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10

12/8/2021

Acq - Pending

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$99M

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10

Date

5/19/2022

3/10/2022

2/24/2022

1/13/2022

12/8/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acq - Pending

Companies

Subscribe to see more

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Valuation

$99M

$99M

Acquirer

Subscribe to see more

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Sources

3

2

4

10

10

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

$99M

$30M

Acq - Fin - II

2

5/9/2018

Series A

$99M

$0.64M

Acq - Fin

1

6/2/2015

Debt

$99M

Acq - Fin

1

4/21/2015

Other Venture Capital

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$99M

$99M

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10

10/2/2011

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$99M

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10

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

Subscribe to see more

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$30M

$0.64M

$99M

Note

Acq - Fin - II

Acq - Fin

Acq - Fin

Subscribe to see more

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Sources

2

1

1

10

10

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

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$99M

10

5/13/2014

Norwest Venture Partners XII

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$99M

10

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

Subscribe to see more

Subscribe to see more

Status

Closed

Closed

Subscribe to see more

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Amount

$3,000M

$2,000M

$1,500M

$99M

$99M

Sources

1

3

2

10

10

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

22-Jan-2020 by Inflectra Company News. Inflectra and NVP Software Solutions Take on the Canadian Tech Market

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

Canada

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10

3/6/2014

Partner

United States

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10

2/11/2013

Partner

United States

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10

Date

1/13/2020

9/14/2017

3/6/2014

2/11/2013

Type

Partner

Vendor

Partner

Partner

Business Partner

Country

United States

Canada

United States

United States

News Snippet

22-Jan-2020 by Inflectra Company News. Inflectra and NVP Software Solutions Take on the Canadian Tech Market

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 . ''

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Sources

1

10

10

10

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

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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

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

DoveBid, Edify Corporation, and Siemens

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

DoveBid, Edify Corporation, and Siemens

Title

Chief Financial Officer

Managing Partner

Managing Partner

Managing Partner

Managing Partner

Status

Current

Current

Current

Current

Current

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