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Venture Capital
stage1ventures.com

Investments

86

Portfolio Exits

7

About Stage 1 Ventures

Stage 1 Ventures is an early stage venture capital firm that is seeking to build partnerships with entrepreneurs that are flexible and who want to build meaningful companies. It serves companies located throughout the world and who tend to be capital efficient and more about the movement of bits than atoms. Its market focus today is in Mobile, the Executable Internet or Software as a Service (SaaS) , IPTV and Internet Video, Pay-For-Performance Marketing and Advertising, and Security.

Headquarters Location

1000 Winter Street Suite 2000

Waltham, Massachusetts, 02451,

United States

1.781.772.1010

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Latest Stage 1 Ventures News

PureCars Completes Spinout with Diversis Capital and Stage 1 Ventures

May 7, 2019

News provided by Share this article ATLANTA, May 7, 2019 /PRNewswire/ -- PureCars, a leader in marketing automation and business intelligence for the automotive industry, today welcomes Diversis Capital, LLC, and Stage 1 Ventures, LLC as new strategic investors. The acquisition was part of a spinout from Raycom Media as a result of their merger with Gray Television. PureCars unlocks full sales potential for automotive dealerships with data-driven, multi-channel technology solutions and expert digital strategy teams. "The new ownership is great for PureCars as it allows us to accelerate our advancement in product, technology, data, and our insatiable commitment to customer service excellence," said Samuel Mylrea, CEO of PureCars. "We are driven by the tremendous opportunity for our data and technology platform to help dealers improve operations, customer acquisition, retention, and ultimately drive more customer lifetime value and profitability. I believe Diversis and Stage 1 Ventures will help us fully realize this opportunity faster." Founded in 2007, PureCars has grown into one of the most successful automotive technology companies, serving dealerships and auto groups across the US and Canada. The company continues to build on its early success, providing high performance technology solutions that enable dealers to optimize operational efficiency and increase revenue from variable and fixed operations. "We've spent a lot of time looking at technology-driven solutions in the automotive space. PureCars not only stood out because of their market-leading technology platform, but also the management team's dedication and passion for solving the mass deficiencies in the industry. After surveying the market landscape and spending time with customers, acquiring PureCars was a really easy decision for us," said Kevin Ma, Managing Director at Diversis. Stage 1 returns to the table a second time, as they were the first institutional investor in PureCars. Stage 1 led the round in 2012 and was part of the sale to Raycom in 2015. The company has grown more than 4x since that time. "It was a pleasure partnering with PureCars previously and I'm excited for the opportunity to work with them again after they've undergone so much growth," said David Baum, Managing Director of Stage 1 Ventures. "We're eager to work with their outstanding leadership team to accelerate growth through best-in-class technology solutions and unrivaled customer service." Diversis and Stage 1 will provide substantial growth capital to further expand PureCars' product offerings via internal development and acquisitions. The company will continue to focus on delivering industry-leading marketing automation and business intelligence software to dealers; finding new and innovative ways to help dealers and auto groups increase market share, return on ad spend and overall profitability. "Over a decade ago I founded PureCars to solve mass deficiencies within automotive and help dealers sell more cars. Since day one, we've stayed true to that mission by building best in class tech, and having a fantastic team around it, which allowed us to become the industry leader. I'm excited about this new chapter and our new owner's commitment to providing PureCars with the financial support to innovate even faster and pursue key strategic acquisitions  to enhance our product and our dealers sell and service more cars by using PureCars," said Jeremy Anspach Executive Chairman of PureCars. About PureCars Founded in 2007, PureCars unlocks dealerships full sales potential with data-driven, multi-channel technology solutions and expert digital strategy teams. By utilizing its extensive data library and proprietary technology, PureCars' marketing automation and business intelligence solutions enable dealers to capture more customers, optimize spend efficiency and maximize profitability. To learn more about PureCars visit www.purecars.com . About Diversis Founded in 2013, Diversis Capital, LLC ("Diversis") is a software and technology focused private equity fund that invests in lower and middle-market companies, targeting situations where it can add unique value in helping a company reach the next level. With a collaborative approach to investing, its operating partners and strategic advisors work alongside management teams to help build successful organizations positioned for long-term growth. About Stage 1 Ventures, LLC Stage 1 Ventures, LLC was founded in 2005 and has invested over $200M in 22 late-stage growth companies. Stage 1 does a combination of primary and secondary investing as well as seed investing. Stage 1 looks for high growth companies that are led by passionate entrepreneurs in ag-tech, cloud, mobile, auto, consumer and enterprise software spaces. SOURCE PureCars

Stage 1 Ventures Investments

86 Investments

Stage 1 Ventures has made 86 investments. Their latest investment was in Freight Farms as part of their Series B - III on November 11, 2022.

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Stage 1 Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/15/2022

Series B - III

Freight Farms

$17.5M

Yes

3

11/10/2022

Seed VC - III

CloudTruth

$2.4M

No

3

11/2/2022

Series B

ThriveFantasy

$3.98M

No

1

8/16/2022

Series C

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$99M

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10

6/30/2022

Seed VC

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10

Date

11/15/2022

11/10/2022

11/2/2022

8/16/2022

6/30/2022

Round

Series B - III

Seed VC - III

Series B

Series C

Seed VC

Company

Freight Farms

CloudTruth

ThriveFantasy

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Amount

$17.5M

$2.4M

$3.98M

$99M

New?

Yes

No

No

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Co-Investors

Sources

3

3

1

10

10

Stage 1 Ventures Portfolio Exits

7 Portfolio Exits

Stage 1 Ventures has 7 portfolio exits. Their latest portfolio exit was Gravyty on December 06, 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

12/6/2021

Merger

$99M

1

12/19/2019

Acquired

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$99M

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10

9/13/2017

Merger

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$99M

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10

10/28/2015

Acquired

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$99M

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10

3/2/2015

Acquired

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$99M

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10

Date

12/6/2021

12/19/2019

9/13/2017

10/28/2015

3/2/2015

Exit

Merger

Acquired

Merger

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

Stage 1 Ventures Acquisitions

1 Acquisition

Stage 1 Ventures acquired 1 company. Their latest acquisition was PureCars on May 06, 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

5/6/2019

Series B

$99M

$10M

Acq - Fin

1

Date

5/6/2019

Investment Stage

Series B

Companies

Valuation

$99M

Total Funding

$10M

Note

Acq - Fin

Sources

1

Stage 1 Ventures Team

2 Team Members

Stage 1 Ventures has 2 team members, including current Founder, Managing Partner, Jonathan Gordon.

Name

Work History

Title

Status

Jonathan Gordon

Founder, Managing Partner

Current

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Name

Jonathan Gordon

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Work History

Title

Founder, Managing Partner

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Status

Current

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