Sequoia Capital Posts

Sequoia Capital sets up $1.1 billion for funds in India and China

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Sequoia Capital has set up a combined $1.1 billion for funds in India and China, according to SEC filings. Sequoia brought in $625 million from 105 LPs for the Sequoia Capital China Growth Fund III. Sequoia Capital India IV brought in $494.75 million from 83 LPs.

PicsArt raises $10 million in Series A funding

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PicsArt is a mobile community that lets users make beautiful images. PicsArt has announced that they have raised $10 million in Series A funding from Sequoia Capital. Omar Hamoui of Sequoia will be joining the board of directors at PicsArt. More details below:

PRESS RELEASE

San Francisco, Calif. — Feb 5, 2015 — PicsArt, the largest mobile community empowering creatives to make beautiful images, today announced that it has partnered with Sequoia and raised $10 million in series A funding. The new investment marks the first-ever institutional round of funding for the previously bootstrapped and profitable mobile community.

Unlike other applications that are focused on capturing and sharing images, PicsArt has cultivated a massive following of consumers interested in creating and collaborating. They use the app’s powerful editing tools to remix each other’s photos, images and drawings. The startup has driven more than 200 million organic app downloads and has nearly 60 million monthly active users, ranking toward the top of global charts on Apple’s App Store and Google Play.

The partnership with the Sequoia team that has backed the founders of celebrated apps like Instagram and WhatsApp was led by Sequoia partner and AdMob founder Omar Hamoui. He will also join PicsArt’s Board of Directors.

“The first generation of photo apps were based primarily on sharing,” said Omar Hamoui, partner at Sequoia. “PicsArt is leading a significant evolution in the category: now the co-creation and editing of one another’s photos is driving viral adoption. PicsArt’s rapid, organic growth makes the case that the next era of expression will be based not only on sharing, but creativity and collaboration as well.”

PicsArt also recently debuted a major update that makes it easier than ever to discover and collaborate on mobile art. Together, these announcements cement PicsArt’s place as one of the world’s best and largest mobile community of creative collaborators.

“The creativity and collaborative spirit of our users sets PicsArt apart. People connect and build friendships around style, hobbies, and images,” said Hovhannes Avoyan, founder and CEO of PicsArt. “Thanks to this partnership with one of the world’s most successful investors, we can accelerate our mission to beautify the world through images.”

Anyone with a smartphone can download the PicsArt app from the App Store, Google Play, Amazon or Windows. To learn more, go to www.PicsArt.com.

About PicsArt
PicsArt is the largest mobile community of creatives and creative images. The company’s U.S. office is based in San Francisco, California with a focus on enabling anyone to be creative, share, socialize, discover, learn and be inspired. The app has been installed over 200 million times and continues to expand and improve, so anyone can unleash their creativity and discover their inner artist. For more, please visit www.picsart.com

About Sequoia
The Sequoia team helps a small number of daring founders build legendary companies. We spur them to push the boundaries of what’s possible. In partnering with Sequoia, companies benefit from our unmatched community and the lessons we’ve learned over 40 years working with Steve Jobs, Larry Ellison, John Morgridge, Jerry Yang, Elon Musk, Larry Page, Jan Koum, Brian Chesky, Drew Houston, Adi Tatarko and Jack Dorsey, among many others. In aggregate, Sequoia-backed companies account for more than 20% of NASDAQ’s total value. We’re proud that their success also fuels great causes: since 2000 alone we have returned more than $10 billion to non-profits like the Ford Foundation, Mayo Clinic and MIT.

Skyhigh Networks raises $40 million in funding

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Skyhigh Networks has raised $40 million in Series C funding co-led by Sequoia Capital and Greylock Partners. These two companies invested in Skyhigh’s $20  million Series B round last May. Salesforce.com also participated in this round.

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WeLab raises $14 million in funding

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WeLab Holdings has announced on Monday that it has raised $14 million in funding from Sequoia Capital and TOM Group, the venture capital firm founded by Asia’s richest man Li Ka-shing. WeLab said it would use the cash to finance its expansion into mainland China. WeLab is planning to bring “big data” to the finance sector. WeLab will help companies better evaluate and price their credit risk. WeLab did not disclose valuations based on the latest funding round.
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Okta raises $70 million in funding

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Cloud software company Okta has raised $70 million in funding. Okta enables companies to manage login identities across multiple services. This round of funding was led by Sequoia Capital’s Growth fund. Okta’s valuation is now close to $600 million. The deal is expected to be officially announced on Wednesday. This would be the third time that Sequoia led an investment in Okta. Other investors in Okta include Andreessen Horowitz, Greylock Partners, Khosla Ventures and Floodgate.

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Sequoia Capital invests $15 million into Octro

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Sequoia Capital has announced that it has invested $15 million in Series A funding for Indian mobile multiplayer gaming company Octro. Octro creates digital versions of offline games like Indian Rummy (card game) and Tambola (bingo-style game).

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Sumo Logic brings in $30 million in funding

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Sumo Logic is a cloud-based log management and data analytics startup that has raised $30 million in funding led by Sequoia Capital and has raised a total of $80.5 million. Existing investors that participated in this round include Greylock Partners, Sutter Hill Ventures, and Accel Partners. Sumo Logic offers analysis of log data across apps, servers, and networking tools regardless of whether it is is a public, private, or hybrid cloud.

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Guardant Health raises $30 million

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Guardant Health is a health technology company that has raised $30 million in funding. This round of funding was led by Khosla Ventures with participation from Sequoia Capital and Pejman Mar Ventures. Guardant Health has now raised a total of $40 million.
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