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Venture Capital
kortschak.com

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Investments

19

Portfolio Exits

7

About Kortschak Investments

Kortschak Investments invests in early stage technology companies led by exceptional founders. The firm helps founders build products that improve the daily lives of users, successfully take those products to market, and create a thriving business.

Kortschak Investments Headquarters Location

333 Bryant Street Suite 190

San Francisco, California, 94107,

United States

650-400-4579

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Latest Kortschak Investments News

Spend Management Firm Torpango Acquires Wishlife

Mar 17, 2022

Torpango has acquired video communication and content management software maker Wishlife , the FinTech announced Thursday (March 17). The all-stock deal will see the Wishlife technology team, led by Lei Wang , integrate into Torpango, with Wang becoming the company CTO. Torpango will also acquire Wishlife’s technology talent, in hopes of “enhancing their product roadmap and technology capabilities,” the San Francisco company said in a news release. “We are very excited to bring cutting edge technology, know-how and an amazing team to the table,” shares Wang. “We are committed to build a secure and scalable spend management platform that empowers businesses of all sizes.” Launched in 2020, Torpango is a spend management platform that aims to give companies more control and transparency when it comes to spending. As a part of the acquisition, Walter Kortschak, the founder of Kortschak Investments and an investor in Wishlife, will become a member of the Torpango board of directors. Kortschak has spent nearly five decades investing in companies and “brings a breadth of expertise” to Torpango, the company said. “We feel that our infrastructure and customer acquisition strategy marries perfectly with the Wishlife technical team, and this acquisition will allow great synergies to bloom in 2022,” said Brent Jackson , Torpago’s CEO. Torpango recently concluded a $77 million funding round, made up of $75 million in credit facilities and $2 million in debt equity. Companies are beginning to see the benefits of spend management, or at least realizing that not embracing it means dealing with an “increasingly archaic world of slow, manual processes,” Thejo Kote , founder and CEO of Airbase , wrote in an essay for PYMNTS last year. “Spend management frees up time from manual tasks and provides the tools for finance and accounting professionals to contribute insights, analysis and strategic thinking, making them more valuable to their companies,” he said. “We’re seeing an upward trajectory of companies adopting a spend management model to provide an intuitive, complete platform for all non-payroll company spend.” ——————————

Kortschak Investments Investments

19 Investments

Kortschak Investments has made 19 investments. Their latest investment was in Fresh To Home as part of their Series A on May 5, 2019.

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Kortschak Investments Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/27/2019

Series A

Fresh To Home

$11M

No

1

12/7/2016

Series A

Zume

$22.69M

Yes

3

7/7/2016

Seed VC

Flock Freight

$3.2M

Yes

2

3/23/2016

Seed VC

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$99M

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10

3/22/2016

Angel

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10

Date

5/27/2019

12/7/2016

7/7/2016

3/23/2016

3/22/2016

Round

Series A

Series A

Seed VC

Seed VC

Angel

Company

Fresh To Home

Zume

Flock Freight

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Amount

$11M

$22.69M

$3.2M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

1

3

2

10

10

Kortschak Investments Portfolio Exits

7 Portfolio Exits

Kortschak Investments has 7 portfolio exits. Their latest portfolio exit was Frame.io on August 19, 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

8/19/2021

Acquired

$99M

4

6/15/2021

Acquired

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$99M

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10

10/15/2014

Acquired

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$99M

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10

4/2/2014

Acquired

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$99M

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10

12/6/2013

Acq - Talent

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$99M

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10

Date

8/19/2021

6/15/2021

10/15/2014

4/2/2014

12/6/2013

Exit

Acquired

Acquired

Acquired

Acquired

Acq - Talent

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

4

10

10

10

10

Kortschak Investments Team

1 Team Member

Kortschak Investments has 1 team member, including current Founder, Managing Partner, Walter Kortschak.

Name

Work History

Title

Status

Walter Kortschak

Crosspoint Venture Partners, and MSC Software

Founder, Managing Partner

Current

Name

Walter Kortschak

Work History

Crosspoint Venture Partners, and MSC Software

Title

Founder, Managing Partner

Status

Current

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