- International venture capital firm 83North (formerly Greylock IL) announced it raised $300 million in oversubscribed funding for 83North
83North (formerly Greylock IL), an international venture capital firm, announced it raised $300 million in oversubscribed funding for 83North V. This brings 83North’s total capital under management to more than $1.1 billion.
This builds upon the success of its existing funds. And 83North will deploy the new capital with the best consumer and enterprise technology companies led by aspiring European and Israeli entrepreneurs.
Based in London and Tel Aviv, the 83North team is comprised of ambitious founders, including Laurel Bowden, Arnon Dinur, Gil Goren, Erez Ofer, and Yoram Snir. They have backed more than 70 companies, including Aeroscout (acquired by Stanley Black & Decker), Bluevine, Celonis, Ebury, Hybris (acquired by SAP), IronSource, iZettle (acquired by Paypal), Just Eat, Logz.io, Marqeta, Mirakl, ScaleIO (acquired by EMC), SocialPoint (acquired by Take-Two Interactive), Vast Data, Via, Wolt, and Zerto.
“We continue to invest in all stages, where we work side-by-side with founding teams to build companies and help them scale globally. Our model gives us access to some of the best talent in the world, meaning that we can add value by exposing entrepreneurs to the best practices in each domain,” said Laurel Bowden, a partner at 83North in London. “Our enterprise software portfolio is a testament to this model, with companies such as Celonis founded in Germany, Siemplify founded in Tel Aviv and Via – all now operating in NYC. Other examples include Mirakl, which was founded in France, Logz.io founded in Tel Aviv and TIS founded in Germany – all now having a presence in Boston.”
This new capital also demonstrates the on-going appeal of the firm’s unique model — which is providing a breadth of expertise and on-the-ground support in three strategic regions (Europe, Israel, and the United States). And 83North has the ability to help founders successfully scale their businesses across these three markets.
“We remain focused on several core domains of expertise” added Gil Goren, a partner at 83North in Tel Aviv. “Data Center and Cloud, Enterprise software, Marketplaces, and Fintech are areas where we have developed world-class expertise and invested in clusters of leading companies. We are also fortunate to back exceptional entrepreneurs in new and emerging areas such as IoT (with recent investments in Wiliot and VDOO) and have a growing interest in the intersection of IT and healthcare as well as vertical SaaS applications.”
