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RRE Ventures company logo
Venture Capital
FINANCE | Investment Firms & Funds
rre.com

Investments

624

Portfolio Exits

148

Funds

10

Service Providers

1

About RRE Ventures

RRE Ventures is a venture capital firm investing primarily in consumer and digital media, mobility, green technology, software and services, financial technology, and infrastructure. It invests in the New York Metro region as well as Silicon Valley and other major technology innovation centers across the United States. It was founded in 1994 and is based in New York, New York.

Headquarters Location

130 East 59th Street 17th Floor

New York, New York, 10022,

United States

212-418-5100

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Expert Collections containing RRE Ventures

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

Find RRE Ventures in 8 Expert Collections, including HR Tech.

H

HR Tech

65 items

S

Store tech (In-store retail tech)

55 items

Startups aiming work with retailers to improve brick-and-mortar retail operations.

B

Banking

44 items

Based on CB Insights Research Brief: https://www.cbinsights.com/blog/industry-market-map-landscape/#retail banking

V

Vitamin & Supplement Startups

237 items

U

Unicorns- Billion Dollar Startups

115 items

F

Food & Beverage

123 items

Research containing RRE Ventures

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned RRE Ventures in 2 CB Insights research briefs, most recently on Sep 28, 2020.

Latest RRE Ventures News

OpenEnvoy: Accounts Payable Automation Company Closes $15 Million

May 15, 2023

OpenEnvoy – an AI company that has built the industry-leading solution for accounts payable (AP) automation – announced it raised $15 million in Series A financing led by RRE Ventures, including participation from Coelius Capital, Hack VC, Riot Ventures, and Uncorrelated Ventures. Essentially, OpenEnvoy automates costly finance processes, preventing billions of dollars in overpayments. And through advanced AI, the OpenEnvoy platform quickly digitizes invoices and performs reconciliation with 99% accuracy while eliminating costly billing errors and lengthy interdepartmental approval processes. Plus OpenEnvoy processes all types of invoices but is especially well known for its ability to manage high-volume, variable-cost invoices for complex accounts payables. The market needs solutions that are highly accurate and processed in real-time, and deliver bottom-line value. And OpenEnvoy’s best-in-class controls protect customers from vendor fraud, keep cash flow safe, and hold vendors accountable. And the company’s industry-proven solutions also feature no-code integration to get clients up-and-running quickly and easily. Using AI to automate this repetitive work for AP teams frees up significant resources, increases effectiveness for faster time-to-value, and eliminates complex approval workflows while unleashing business creativity leading to new opportunities for growth and success. The human administrative overhead is responsible for about $765 billion annually in unnecessary costs. And drug launches take 10 to 15 years and cost more than $2 billion due to inefficiencies in recruiting and retaining patients during clinical trials. The problem is that 90% of the data relied upon for clinical decisioning is unstructured and impossible to analyze at scale. And as a result, most processes remain manual and inefficient. Organizing that data so it is instead structured and contextually linked is critical to assist often non-technical knowledge workers make decisions based on data. KEY QUOTES: “We’re thrilled to continue pushing the boundaries in AI for automation of financial processes. With this new round of funding, we’re well-positioned to extend our industry leadership and growth. By automating AP and other financial processes, OpenEnvoy empowers finance teams to focus on more strategic activities that help our clients recognize significant hard dollar returns through improved cash flow and operational efficiencies.” — Matthew Tillman, CEO of OpenEnvoy “OpenEnvoy is poised to reshape an industry that has gone largely unchanged over the past 100 years. Invoice processing is still overwhelming, error-prone, and tedious even in the rare cases in which it has been fully digitized. For most businesses, invoice processing is not a human-scale problem any longer—that’s why most companies do spot checks, not full audits. OpenEnvoy’s unparalleled AI technology paired with its integrated document digitization and processing technology fundamentally transforms the AP function delivering immediate value and frequently saving customers millions in overpayments. As the lead investor in OpenEnvoy’s Series A round, RRE Ventures is extremely proud to support the growth of this category-defining company.” — Jason Black, General Partner at RRE Ventures “OpenEnvoy digitizes highly complex invoices with full accuracy and the highest speed in the market. They specialize in solving exceptionally complex challenges in extremely complicated industries including logistics, transportation and manufacturing. They’re modernizing old, insular industries – precisely why we’re doubling down in this round.” — Will Coffield, General Partner at Riot Ventures “Our philosophy is that ideas are meaningless, validated ideas are priceless. We’re investing in OpenEnvoy because they’ve more than validated end-to-end automation being the key to success, especially with so many jobs evolving. Finance is about results, and capital markets want to see immediate, meaningful ROI.” — Zach Coelius, Managing Partner at Coelius Capital “Finance teams demand greater efficiency, higher yield, and better cash flows by automatically identifying invoice discrepancies, automating the aging process, and uncovering valuable insights into vendor networks. We’re investing in OpenEnvoy because companies are working with them to meet all of these needs. Organizations who aren’t, need to start doing so, yesterday.” — Salil Deshpande, General Partner at Uncorrelated Ventures Trending on Pulse 2.0

RRE Ventures Investments

624 Investments

RRE Ventures has made 624 investments. Their latest investment was in OpenEnvoy as part of their Series A on May 5, 2023.

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RRE Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/3/2023

Series A

OpenEnvoy

$15M

No

6

4/11/2023

Seed VC

Catio

$6.5M

Yes

1

3/20/2023

Unattributed VC

Ursa Space Systems

$4.05M

No

1

12/1/2022

Series C - II

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$99M

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10

11/30/2022

Series B

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$99M

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10

Date

5/3/2023

4/11/2023

3/20/2023

12/1/2022

11/30/2022

Round

Series A

Seed VC

Unattributed VC

Series C - II

Series B

Company

OpenEnvoy

Catio

Ursa Space Systems

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Amount

$15M

$6.5M

$4.05M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

6

1

1

10

10

RRE Ventures Portfolio Exits

148 Portfolio Exits

RRE Ventures has 148 portfolio exits. Their latest portfolio exit was Clyde on March 15, 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

3/15/2023

Acquired

$99M

3

12/14/2022

Acquired

$99M

7

8/9/2022

Reverse Merger

$99M

2

3/9/2022

Acquired

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$99M

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10

2/16/2022

Acquired

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$99M

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10

Date

3/15/2023

12/14/2022

8/9/2022

3/9/2022

2/16/2022

Exit

Acquired

Acquired

Reverse Merger

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

3

7

2

10

10

RRE Ventures Fund History

10 Fund Histories

RRE Ventures has 10 funds, including RRE Ventures VIII.

Closing Date

Fund

Fund Type

Status

Amount

Sources

2/10/2023

RRE Ventures VIII

$250M

1

2/22/2019

RRE Leaders II

Early-Stage Venture Capital

Open

$57.9M

5

6/25/2018

RRE Ventures VII

Early-Stage Venture Capital

Closed

$265M

5

10/1/2015

RRE Leaders Fund

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$99M

10

4/28/2014

RRE Ventures VI

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$99M

10

Closing Date

2/10/2023

2/22/2019

6/25/2018

10/1/2015

4/28/2014

Fund

RRE Ventures VIII

RRE Leaders II

RRE Ventures VII

RRE Leaders Fund

RRE Ventures VI

Fund Type

Early-Stage Venture Capital

Early-Stage Venture Capital

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Status

Open

Closed

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Amount

$250M

$57.9M

$265M

$99M

$99M

Sources

1

5

5

10

10

RRE Ventures Service Providers

1 Service Provider

RRE Ventures has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

Partnership data by VentureSource

RRE Ventures Team

12 Team Members

RRE Ventures has 12 team members, including current Founder, General Partner, Stuart J. Ellman.

Name

Work History

Title

Status

Stuart J. Ellman

Founder, General Partner

Current

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Name

Stuart J. Ellman

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Work History

Title

Founder, General Partner

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Status

Current

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