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Venture Capital
FINANCE | Investment Firms & Funds
silvertonpartners.com

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Investments

198

Portfolio Exits

33

Funds

7

About Silverton Partners

Silverton Partners is an early-stage venture capital firm focused on Austin-based companies. It is typically the first institutional investor and the lead investor in the companies it backs.

Silverton Partners Headquarter Location

600 W. 7th Street

Austin, Texas, 78701,

United States

512-476-6700

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Latest Silverton Partners News

Marketing data management platform Claravine nabs $16M

May 16, 2022

Claravine , a self-described marketing data platform, today announced that it raised $16 million in a Series B round led by Five Elms Capital with participation from Grayhawk Capital, Next Frontier Capital, Peninsula Ventures, Kickstart Fund, and Silverton Partners. CEO Verl Allen says that the new money, which brings the company’s total raised to $27.9 million, will be used to double Claravine’s headcount to 88 employees by the end of the yea and support product R&D. Claravine was founded in 2012 as Tracking First, a company focused on streamlining the tracking code process for large organizations. Tracking code is a snippet of code that tracks the activity of a website visitor by collecting data and sending it to an analytics module, usually for marketing purposes. According to Allen, Tracking First had “gritty founders” who “knew the space well” and had “high-quality” customers, but the focus was too narrow. “There was a realization that there was a bigger underlying problem that was being ignored in the market, which our solution had the potential to address,” Allen told TechCrunch in an email interview. “In 2018, I joined as CEO and helped the organization — now Claravine — to grow and expand the ways we could help the largest organizations in the world take a proactive approach to their data.” Claravine’s product is designed to help enterprises control what flows through their tech stack, especially business intelligence and analytics software, and manage their marketing data standards — the blueprints for defining common formats for data across regions, teams, and campaigns. Via an API and integrations with platforms including Adobe Experience Manager and Workfront as well as media platforms like Google Ads, Claravine supports teams in managing parameters of these standards over time. “[F]or many organizations, decision-makers have to rely on untrustworthy data for business decisions … [These] decision-makers rely not just on technologies and data but humans, and that creates a large possibility for error in the data entry process, exacerbated by all the disconnected technologies and teams,” Allen said. “This is why our solution is built to engrain standards into the way business teams work and collaborate as they create and modify data. By facilitating a common understanding of standards as inputs are generated and reviewed, organizations have greater control early on, whatever their needs. And downstream data users can move with more confidence and speed when using this data to make decisions.” Claravine’s data management platform. Toward this end, Claravine provides a dashboard where companies can build taxonomies using descriptions, lists, values, and referenceable fields. Using the platform, a user can bring in a tracking code data set, for example, and standardize it — automatically verifying that no information is missing. Claravine also offers consulting services to assist companies with evaluating the current state of their data standards. For a fee, staffers outline alternative approaches, recording things like naming conventions, rules, and custom attributes in a central location for reference. “Data standards enable organizations to build a solid foundation of data by reducing human error upfront and unlocking a greater depth and breadth of data for use … By building in data integrity early on and pushing this data into core systems including cloud storage, you give back time to downstream teams otherwise lost to cleaning and translating,” Allen said. Allen sees Claravine’s main competition as spreadsheet-based processes, internally-built worklows, and — increasingly — no-code apps. While he admits it can be difficult to convince teams to manage their data standards in a platform as opposed to siloed solutions, he argues that the cost of not doing so is too high. Underlining Allen’s point, a recent Gartner survey found that only 14% of companies have achieved what they consider to be a “360-degree view” of their customer, owing to poor-quality data and other organizational hurdles. “While some organizations may try to define and distribute data requirements in documents, structured spreadsheets or homegrown solutions, these create immense challenges around change management, version control, access, and process resulting in challenges in the readiness and reliability of data, particularly for global organizations,” Allen said. “The status quo for marketing operations, measurement, and data teams is no longer good enough.” Mum’s the word on Claravine’s annual recurring revenue (ARR) — Allen declined to say — but the startup has close to 100 customers, including Under Armour, Ancestry, and Vanguard. From 2020 to 2021, Allen says that Claravine saw over 40% ARR growth and 95% gross revenue retention, which refers to the percentage of recurring revenue retained from existing customers, including cancellations. “Claravine has carved out a new category that continues to redefine how top brands manage their digital experience. We have been exceptionally impressed by Verl, his team, and their mission,” Stephanie Schneider, a partner at Five Elms Capital, told TechCrunch via email when contacted for comment. “Claravine is positioned to become a dominant player in the space as it continues to scale its platform and offerings. We are proud to support the company on this exciting growth trajectory.”

Silverton Partners Investments

198 Investments

Silverton Partners has made 198 investments. Their latest investment was in Claravine as part of their Series B on May 5, 2022.

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Silverton Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/16/2022

Series B

Claravine

$16M

No

3

4/29/2022

Series B

Clerk

$30M

No

4

2/28/2022

Seed VC - II

Virdee

$9M

No

9

2/22/2022

Series B

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$99M

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10

2/15/2022

Series C

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$99M

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10

Date

5/16/2022

4/29/2022

2/28/2022

2/22/2022

2/15/2022

Round

Series B

Series B

Seed VC - II

Series B

Series C

Company

Claravine

Clerk

Virdee

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Amount

$16M

$30M

$9M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

3

4

9

10

10

Silverton Partners Portfolio Exits

33 Portfolio Exits

Silverton Partners has 33 portfolio exits. Their latest portfolio exit was Billie on November 29, 2021.

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

11/29/2021

Acquired

$99M

2

9/30/2021

Acquired

2

9/27/2021

Acquired

2

9/21/2021

Acquired

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$99M

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10

9/8/2021

Acquired

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10

Date

11/29/2021

9/30/2021

9/27/2021

9/21/2021

9/8/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

2

2

2

10

10

Silverton Partners Fund History

7 Fund Histories

Silverton Partners has 7 funds, including Silverton Partners Early Stage.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/29/2020

Silverton Partners Early Stage

$144M

1

5/25/2018

Silverton Partners V

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$99M

10

11/7/2013

Silverton Partners IV

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$99M

10

Silverton Opportunities I

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10

Silverton Opportunities Entrepreneurs I

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10

Closing Date

4/29/2020

5/25/2018

11/7/2013

Fund

Silverton Partners Early Stage

Silverton Partners V

Silverton Partners IV

Silverton Opportunities I

Silverton Opportunities Entrepreneurs I

Fund Type

Subscribe to see more

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Status

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Amount

$144M

$99M

$99M

Sources

1

10

10

10

10

Silverton Partners Team

5 Team Members

Silverton Partners has 5 team members, including current Managing Partner, Morgan Flager.

Name

Work History

Title

Status

Bill Wood

Founder

Current

Bill Wood

Founder

Current

Morgan Flager

FTV Capital, Ingrian Networks, and Kintana

Managing Partner

Current

Mike Dodd

Austin Ventures, Omniture, Ancestry, Europ@web, and RS&Co.

General Partner

Current

Kip Mcclanahan

General Partner

Current

Name

Bill Wood

Bill Wood

Morgan Flager

Mike Dodd

Kip Mcclanahan

Work History

FTV Capital, Ingrian Networks, and Kintana

Austin Ventures, Omniture, Ancestry, Europ@web, and RS&Co.

Title

Founder

Founder

Managing Partner

General Partner

General Partner

Status

Current

Current

Current

Current

Current

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