- OpenView announced it has closed a seventh fund totaling $570 million.
OpenView announced the closing of its seventh fund totaling $570 million, which is going to continue the firm’s dedication to partnering with high-growth software startups. And the latest fund represents a 25% increase over the firm’s sixth fund and is their largest to date – enabling OpenView to support more entrepreneurs through this challenging macroeconomic climate.
OpenView is going to maintain its focused strategy of high conviction and concentrated venture capital investments in business software companies at the expansion stage. And OpenView invests globally across all business software categories including infrastructure, applications, cybersecurity, and vertical software.
Since being founded in 2006, OpenView has raised a total of $2.4 billion across its 7 funds and has partnered with over 60 companies including Datadog, Calendly, Axonius, JumpCloud, UserTesting, and Workfront, among others.
And OpenView is led by veteran investors including Scott Maxwell, Mackey Craven, and Blake Bartlett, along with a next generation of partners who joined the partnership in its sixth fund. All of them are dedicated to the mission of improving people’s working lives by supporting business software companies that make this mission a reality.
With close to 80 team members, OpenView has a two-and-a-half-to-one ratio of people to portfolio companies. And this level of resourcing makes it possible for the firm to work hand in hand with portfolio companies to attract and retain more of the best-fit customers and talent.
OpenView expects to continue its high-conviction investing approach, which would enable OpenView to build trusted relationships with portfolio companies before, during, and after investment. And OpenView has already begun investing out of Fund VII and looks forward to supporting the next generation of software entrepreneurs as they scale through the expansion stage and beyond.
KEY QUOTES:
“As we have for nearly two decades, we remain focused on identifying and supporting innovative business software companies in high-growth product markets primed for rapid expansion.”
— Mackey Craven, partner at OpenView
“During this time of turbulence in the financial markets, OpenView is excited to have a new fund to support software startups. We are grateful for our partnership with world-class limited partners, which makes it possible to support these promising companies as they build the future.”
— Blake Bartlett, partner
“OpenView is dedicated to helping its portfolio companies with meaningful and measurable value that accelerates their journey through the expansion stage. Whether it’s running a pricing project, placing an executive hire, connecting a founder to a top-tier CMO, or helping companies access capital markets, our Expansion Platform removes hurdles to unlock growth.”
— Kyle Poyar, operating partner
