Mar
29
2021
--

EQT Ventures promotes Laura Yao to partner; hires Anne Raimondi as operating partner

EQT Ventures, an investment firm based in Europe that has raised more than €1.2 billion ($1.4 billion USD), announced that it has promoted Laura Yao to partner. At the same time, the firm announced it recently hired Anne Raimondi, former SVP of Operations at Zendesk, as operating partner.

The company is based in Stockholm, with offices in London, Berlin, Paris, Amsterdam and Luxembourg. Yao is based in the U.S. office in San Francisco, where she has been working for three years prior to her recent promotion to partner. She says that the company tends to hire people with operator experience because they relate well to the founders of startups in which they invest.

“Our goal is to partner with the most ambitious and boldest founders in Europe and the U.S. and kind of be the investors that we all wish we’d had when we were on the other side of the table,” Yao told me.

Yao’s background includes co-founding a startup called The PhenomList in 2011.

While she is responsible for looking for new investments, Raimondi works with the existing portfolio of companies, particularly B2B SaaS companies, helping them with practical aspects of building a startup like go-to-market strategy, organizational design, hiring executives and other components of company building.

“I joined earlier this year as an operating partner, so I’m not on the investing side but actually focused on working with existing portfolio company founders as they grow and scale,” Raimondi said.

Unfortunately, female partners like Yao and Raimondi remain a rarity in most venture firms with a Crunchbase report from last April finding that just 3% of investors are women, and that over two-thirds of firms don’t have a single woman as a partner.

EQT has a 50/50 male to female employee ratio, although the partners were all male until Yao was promoted and Raimondi hired. That makes two of six as the company attempts to make the investment team reflect the rest of the company and the population at large.

Part of Raimondi’s job is talking to startups about building diverse and equitable organizations and she and Yao know the company needs to model that. She says that thriving startups understand on the product side that to build a successful product, they start with a hypothesis, then develop targets and metrics to test, learn and then iterate.

She says that they need to do the same thing to build a diverse and inclusive company. That starts with defining what diversity and inclusion looks like and setting up metrics to measure their progress.

“You evaluate [your diversity goals] and hold [the company] accountable to what you’ve signed up for. If you don’t meet them, [you look at] what can you do to improve them. Then you look at how you keep iterating, and then constantly measuring the employee experience across many dimensions, including not only diversity, but the important part of belonging,” Raimondi said.

Both women say their company does a good job at this, and their hiring/promotion proves that. Yao says that the organization as a whole has created a comfortable and inclusive culture. “It’s very collaborative and egalitarian. Anyone can say whatever’s on their mind. It’s very non-hierarchical and a comfortable place for a woman to work. I felt immediately welcomed and that my ideas were welcome immediately,” she said.

The company portfolio includes startups in the U.S. and Europe and the firm sees itself as a bridge between the two locations. Among the companies EQT has invested in include bug bounty startup HackerOne, website building technology Netlify and quantum computing startup Seeqc.

Early Stage is the premier “how-to” event for startup entrepreneurs and investors. You’ll hear firsthand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. We’ll cover every aspect of company building: Fundraising, recruiting, sales, product-market fit, PR, marketing and brand building. Each session also has audience participation built-in — there’s ample time included for audience questions and discussion. Use code “TCARTICLE” at checkout to get 20% off tickets right here.

Mar
04
2020
--

Netlify nabs $53M Series C as microservices approach to web development grows

Netlify, the startup that wants to kill the web server and change the way developers build websites, announced a $53 million Series C today.

EQT Ventures Fund led the round with contributions from existing investors Andreessen Horowitz and Kleiner Perkins and newcomer Preston-Werner Ventures. Under the terms of the deal Laura Yao, deal partner and investment advisor at EQT Ventures will be joining the Netlify board. The startup has now raised $97 million, according to the company.

Like many startups recently, Netlify’s co-founder Chris Bach says they weren’t looking for new funding, but felt with the company growing rapidly, it would be prudent to take the money to help continue that growth.

While Bach and CEO Matt Biilmann didn’t want to discuss valuation, they said it was “very generous” and in line with how they see their business. Neither did they want to disclose specific revenue figures, but did say that the company has tripled revenue three years running.

One thing fueling that growth is the sheer number of developers joining the platform. When we spoke to the company for its Series B in 2018, it had 300,000 sign-ups. Today that number has ballooned to 800,000.

As we wrote about the company in a 2018 article, it wants to change the way people develop web sites:

“Netlify has abstracted away the concept of a web server, which it says is slow to deploy and hard to secure and scale. By shifting from a monolithic website to a static front end with back-end microservices, it believes it can solve security and scaling issues and deliver the site much faster.”

While developer popularity is a good starting point, getting larger customers on board is the ultimate goal that will drive more revenue, and the company wants to use its new injection of capital to build the enterprise side of the business. Current enterprise customers include Google, Facebook, Citrix and Unilever.

Netlify has grown from 38 to 97 employees since the beginning of last year and hopes to reach 180 by year’s end.

Powered by WordPress | Theme: Aeros 2.0 by TheBuckmaker.com