We are pleased to be featured in the 2021 Preqin Global Private Equity & Venture Capital Report. The report outlines trends and news in PE/VC and highlights a few top performing funds. It is one of the industry's most comprehensive and in-depth annual reviews.
In April, we realized our largest position in a portfolio company in Fund II through the $500 million sale of Punchh to PAR Technologies. In addition, Nexient was acquired by NTT DATA Services and Ampool was acquired by Hewlett Packard Enterprise (HPE).
In terms of new funding rounds, Fund III company, Catch&Release raised a $14 million Series A led by Accel. Cervin led a $10 million Series A in Anvilogic.
Punchh - April 2021, $500 million exit to PAR Technologies Corporation.
Punchh, a leader in loyalty and guest engagement solutions, has been acquired by PAR Technology Corporation for $500 million. PAR is a leading global provider of restaurant software. This acquisition makes PAR a unified commerce cloud platform for enterprise restaurants with integrated point-of-sale, back office, payment and guest engagement solutions. Congratulations to Shyam Rao, co-founder/CEO and the entire Punchh team. We are happy to have been part of their exciting journey since leading its seed round.
Nexient - May 2021, exit to NTT DATA Services
NTT DATA Services, a global digital business and IT services leader, has entered an agreement to acquire Nexient, a digital services company that will expand NTT DATA’s differentiating transformation, modernization and cloud app development capabilities. Nexient was one of Cervin’s early investments that we incubated as an adjunct to our software investments to drive collaborative agile development with F-500 customers with an all US staff based in Michigan and Ohio Congratulations to Mark Orttung and the Nexient team of 800+ employees for having built a phenomenal platform and an incredible outcome.
Ampool - June 2021, exit to Hewlett Packard Enterprise (HPE)
Ampool has been acquired by Hewlett Packard Enterprise. Ampool’s team and products will be extending the high-performance analytics capabilities of HPE’s flagship Ezmeral software platform, playing a pivotal role in accelerating Ezmeral’s analytics runtime for interactive SQL workloads, helping to improve quality, repeatability, throughput, and time to value for customers’ AI/ML, analytics and data-intensive workloads. Congratulations to Milind Bhandarkar and the Ampool team.
Anvilogic - May 2021, $10 million Series A
Anvilogic, a leading cyber-security threat detection automation company, recently announced that they have raised a $10 million Series A led by Cervin Ventures with participation from Foundation Capital, Point 72 Ventures, and Dan Warmenhoven. The funding round will allow Anvilogic to scale their go-to-market operations and expand research and development efforts. We are excited to welcome Anvilogic to the Cervin portfolio.