Rally Ventures Announces Close of Rally Fund V at $240 Million The firm, with over $1 billion AUM, will invest Fund V in early-stage enterprise technology companies with a focus on AI/ML, Cybersecurity, Fintech and SaaS+.
Menlo Park, CA and Minneapolis, MN
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December 19, 2023 08:13 AM Central Standard Time
Rally Ventures, a leading venture capital firm focused on early-stage business technology, today announced the close of Rally Fund V, a $240 million fund to invest in companies bringing innovative approaches to enterprise technology.
Fund V will continue Rally Ventures' history of investing in promising early-stage startups, with a strong focus on companies operating in the fields of AI/ML, cybersecurity, fintech and SaaS+. Since its founding in 2012, Rally Ventures has invested in 76 companies and has had 19 successful exits, including 3 initial public offerings.
Rally Ventures has built a nationwide portfolio of sector-spanning investments, with over $1 billion AUM and consistently strong performance across funds. Notable investments from previous funds include Arctic Wolf, Bugcrowd, Harness, UiPath, Total Expert, Braze (IPO), Carbon Black (IPO, subsequently acquired by VMware), Coupa (IPO), SportsEngine (acquired by NBC Sports), Twistlock (acquired by Palo Alto Networks) and Verodin (acquired by FireEye).
Rally Ventures recently announced the addition of former Google CIO Ben Fried, who strengthens the team’s expertise in engineering leadership, cybersecurity and AI/ML. Ben joins a team of three managing directors, four venture partners and seven professionals.
“We’re excited to have Ben join the Rally team as we begin investing out of Rally Fund V,” said Jeff Hinck, Co-Founder and Managing Director at Rally Ventures. “We believe companies adopting AI aggressively can achieve an order of magnitude improvement in efficiencies and network effects enabling them to quickly and permanently surpass competition. Ben’s experience working for a company at the leading edge of technology will be a tremendous asset for Rally and our portfolio in discerning what will have a lasting impact vs what is just hype.”
The Rally team includes a dynamic group of more than 100 Rally Tech Partners— executives, technologists and luminaries — who act as an extension to the Rally Ventures team and provide operating leverage for portfolio companies to help broaden the firm's capabilities. Rally Tech Partners have themselves invested more than $130 million into Rally Ventures funds.
"While the industry has experienced some advancement, cybersecurity remains largely unsolved for the enterprise and it will remain a top priority for businesses and individuals," said Charles Beeler, Co-Founder and Managing Director at Rally Ventures. "We've seen great success from our investment team over the past two decades, and we're excited to continue investing in and creating cutting-edge solutions to protect against emerging threats."
"SaaS+ and the world of vertically embedded fintech is remaking the financial industry,” said Justin Kaufenberg, Managing Director at Rally Ventures. “Rally Fund V will actively seek out companies that are driving innovation in embedded payments, insurance, lending, payroll, treasury management, spend management, funds distribution and every other part of the historically stand alone financial services stack."
The Rally team is proud to have the continued support of existing limited partners and the addition of new investors with a long-term commitment to venture capital demonstrate their confidence in the team's ability to identify and nurture the next generation of tech leaders.
About Rally Ventures
Rally Ventures invests exclusively in early-stage business technology companies, focusing on entrepreneurs creating major new markets or bringing transformative approaches to existing ones. Since 1997, Rally Ventures' partners and venture capital industry veterans have invested in or run early stage enterprise business-to-business technology companies with a proven ability to deliver superior returns regardless of the overall market environment. For more information visit rallyventures.com.
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