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Stepstone Group company logo
Diversified Financial Services
FINANCE | Asset/Financial Management
stepstoneglobal.com

Investments

60

Portfolio Exits

9

Funds

17

Partners & Customers

2

Service Providers

2

About Stepstone Group

StepStone (NASDAQ: STEP) is a global private markets specialist. It operates across multiple asset classes, including private equity, real estate, infrastructure, and private debt. StepStone was founded in 2007 and is based in New York, New York.

Headquarters Location

450 Lexington Avenue 31st Floor

New York, New York, 10017,

United States

212-351-6100

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Latest Stepstone Group News

DuploCloud: End-To-End DevOps Software Platform Company Closes $32 Million

Dec 7, 2023

DuploCloud – an industry pioneer offering a platform engineering solution that encompasses full stack DevOps automation with built-in compliance – recently closed a $32 million Series B funding round, led by WestBridge Capital and StepStone Group and with previous investor Mayfield. This significant funding round is earmarked for propelling the expansion of its exceptional team and cutting-edge product development. The new funding round firmly positions DuploCloud as a frontrunner in the platform engineering segment which is largely a do-it-yourself effort today by organizations hiring dozens of engineers spending millions of dollars over multiple years. This latest funding round brings the company’s total amount raised to $49.5 million, following a $15 million Series A round in 2022 and Seed round in 2021. Launched in 2018 by the original engineers of Microsoft Azure and AWS, DuploCloud has driven remarkable growth – making a significant impact on the low code/no code DevOps automation and compliance landscape. And rapidly expanding its customer base over the past year, DuploCloud has become the go-to solution for organizations seeking to streamline their DevOps processes and accelerate go-to-market. DuploCloud’s solutions played a major role in helping companies move fast and not break things by enhancing operational efficiency, reducing friction, and promoting seamless collaboration among DevOps and developer teams. With more than a hundred customers, DuploCloud has grown annual recurring revenue by an amazing 700% since their seed round in 2021 and has been recognized in the prestigious Inc 5000 list this year, underscoring the company’s ascent in the industry. DuploCloud’s customers span a wide range of industries, ranging from finance, health care, retail, and public sector. KEY QUOTES: “When we started DuploCloud, DevOps teams would equate automation with DevOps engineers writing thousands of lines of Infrastructure-as-code templates that made their own daily work more efficient while developers had no self-service and were waiting days for requested infrastructure changes. With the advent of platform engineering, there is a realization that developers need to be empowered. Infrastructure-as-Code won’t do it, which is why we want to make this platform available off-the-shelf, so companies don’t have to spend millions of dollars and years building it themselves.” — Venkat Thiruvengadam, CEO and Founder of DuploCloud “Over the past year, DuploCloud has further established itself as a driver of growth and product innovation in the DevOps space. We’ve been impressed with the team’s energy and commitment to helping their customers scale and succeed, and we’re delighted to support the company in the next stage of their growth.” — Sumir Chadha, Managing Partner of WestBridge Capital “DuploCloud is poised to take advantage of the tremendous growth in the DevOps automation market. With their innovative solutions and outstanding executive leadership, DuploCloud has not only tapped into a crucial need within the DevOps space but is poised to lead the charge in the industry’s rapid evolution, and we’re excited to see what the next several years bring in growth and opportunity for the company.” — John Avirett, partner at StepStone Group Sponsors

Stepstone Group Investments

60 Investments

Stepstone Group has made 60 investments. Their latest investment was in DuploCloud as part of their Series B on November 11, 2023.

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Stepstone Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/29/2023

Series B

DuploCloud

$32M

Yes

3

8/25/2023

Series E

Zepto

$200M

Yes

6

7/18/2023

Series B - II

Bowery Valuation

$16.3M

Yes

3

6/9/2023

Series B - II

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$99M

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10

4/19/2023

Series A - II

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$99M

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10

Date

11/29/2023

8/25/2023

7/18/2023

6/9/2023

4/19/2023

Round

Series B

Series E

Series B - II

Series B - II

Series A - II

Company

DuploCloud

Zepto

Bowery Valuation

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Amount

$32M

$200M

$16.3M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

3

6

3

10

10

Stepstone Group Portfolio Exits

9 Portfolio Exits

Stepstone Group has 9 portfolio exits. Their latest portfolio exit was Light on May 17, 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

5/17/2022

Acquired

$99M

3

3/2/2022

Acq - Fin

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$99M

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10

12/22/2021

Merger

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$99M

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10

7/28/2021

Reverse Merger

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$99M

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10

1/12/2021

Acquired

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$99M

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10

Date

5/17/2022

3/2/2022

12/22/2021

7/28/2021

1/12/2021

Exit

Acquired

Acq - Fin

Merger

Reverse Merger

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

3

10

10

10

10

Stepstone Group Acquisitions

12 Acquisitions

Stepstone Group acquired 12 companies. Their latest acquisition was Talent Systems on July 19, 2022.

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

7/19/2022

$99M

Acq - Fin

2

7/7/2021

$99M

Acquired

10

9/6/2018

$99M

Acq - Fin

3

1/9/2018

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$99M

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10

5/12/2016

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$99M

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10

Date

7/19/2022

7/7/2021

9/6/2018

1/9/2018

5/12/2016

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acq - Fin

Acquired

Acq - Fin

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Sources

2

10

3

10

10

Stepstone Group Fund History

17 Fund Histories

Stepstone Group has 17 funds, including StepStone VC Blockchain I Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/30/2023

StepStone VC Blockchain I Fund

$71.22M

2

5/30/2023

StepStone VC Blockchain I (Cayman) Fund

$25.32M

1

8/8/2022

StepStone Capital Partners Fund V

$2,360M

1

6/1/2022

StepStone Secondary Opportunities Fund V

$99M

10

5/13/2022

StepStone Credit Opportunities Fund I

$99M

10

Closing Date

5/30/2023

5/30/2023

8/8/2022

6/1/2022

5/13/2022

Fund

StepStone VC Blockchain I Fund

StepStone VC Blockchain I (Cayman) Fund

StepStone Capital Partners Fund V

StepStone Secondary Opportunities Fund V

StepStone Credit Opportunities Fund I

Fund Type

Status

Amount

$71.22M

$25.32M

$2,360M

$99M

$99M

Sources

2

1

1

10

10

Stepstone Group Partners & Customers

2 Partners and customers

Stepstone Group has 2 strategic partners and customers. Stepstone Group recently partnered with AGR Partners, and Green Plains on September 9, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

9/9/2019

Partner

United States

Green Plains completes the sale of 50% of Green Plains Cattle Company for $77 Million to AGR Partners TGAM Agribusiness Fund Holdings-B LP and StepStone Atlantic Fund LP

Green Plains Cattle Company LLC is a joint venture partnership between Green Plains Inc. , AGR Partners , StepStone Group , and their respective affiliates .

1

8/14/2019

Vendor

United States

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10

Date

9/9/2019

8/14/2019

Type

Partner

Vendor

Business Partner

Country

United States

United States

News Snippet

Green Plains completes the sale of 50% of Green Plains Cattle Company for $77 Million to AGR Partners TGAM Agribusiness Fund Holdings-B LP and StepStone Atlantic Fund LP

Green Plains Cattle Company LLC is a joint venture partnership between Green Plains Inc. , AGR Partners , StepStone Group , and their respective affiliates .

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Sources

1

10

Stepstone Group Service Providers

2 Service Providers

Stepstone Group has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Joseph Gunnar & Co.

IPO

Investment Bank

Financial Advisor

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Service Provider

Joseph Gunnar & Co.

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Associated Rounds

IPO

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Provider Type

Investment Bank

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Service Type

Financial Advisor

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Partnership data by VentureSource

Stepstone Group Team

2 Team Members

Stepstone Group has 2 team members, including current Senior Managing Director, Frederic G Emry.

Name

Work History

Title

Status

Frederic G Emry

Greenspring Associates, ABS Capital Partners, and Deutsche Bank

Senior Managing Director

Current

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Name

Frederic G Emry

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Work History

Greenspring Associates, ABS Capital Partners, and Deutsche Bank

Title

Senior Managing Director

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Status

Current

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