With Series A deals far outstripping Series B financings in 2013, chatter around a Series B Crunch is alive and well. Fred Destin, formerly of Atlas Venture, highlighted investor concerns in a recent post, writing that:
“Series B is the round where the rubber meets the road, where the promise has to be met with numbers and projections. Series B is the round where hard nosed investors drive ownership up before your company really starts to scale. Series B is the unloved valley of slow progress that precedes scaling. It’s the no-man’s land of the startup build phase.”
Given the recent chatter, we wanted to analyze the venture capital firms who have most frequently come in fresh at the Series B stage since the start of 2008. Specifically, we looked at the top 20 venture capital or corporate venture capital investors who have made the highest number of new portfolio investments into private tech companies at the Series B stage. The list below.
According to CB Insights data, Intel Capital leads the list of investors who have made the most new portfolio investments in the tech sector at the Series B stage since 2008. Intel Capital’s new Series B investments over the period include cybersecurity startup Bromium, social media management company Sprinklr and in-store retail analytics firm Prism Skylabs. New Enterprise Associates and Khosla Ventures, who have each made over 20 new tech investments at the Series B stage, round out the top 3 investors.
For those worried about the Series B Crunch, below is a list of the Top 20 VCs entering companies at the Series B stage.
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This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
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- Company Mosaic Scores to evaluate startup health, based on our National Science Foundation-backed algorithm
- Business Relationships to quickly see a company’s competitors, partners, and more
- Market Sizing Tools to visualize market growth and spot the next big opportunity