- SignalFire announced it closed over $900 million and they have launched an XIR program. These are the details.
SignalFire – a tech-enabled early-stage venture capital firm harnessing data and artificial intelligence at scale to identify investments and support for the next generation of startups – has closed over $900 million in fresh funding that brings the firm to over $1.8 billion in assets under management.
SignalFire is also announcing the launch of its Executive-in-Residence (XIR) program – which pairs deeply experienced tech industry leaders from the firm’s Advisor Network with high-potential portfolio companies. The current XIRs collaborating with SignalFire include:
— Doug Merritt, CEO of Splunk (SPLK)
— Frank Williams, co-founder and CEO of Evolent Health (EVH)
— Tom Peterson, co-founder and COO of Evolent Health (EVH)
— Alex Hooshmand, co-founder and CPO of Blue Kai (Acquired by ORCL)
— David Klements, co-founder and CEO of Qualifacts (Acquired by Warburg Pincus)
— Jack Huffard, co-founder and president of Tenable (TENB)
The over $900 million in additional capital for SignalFire’s Seed, Breakout, XIR, and Opportunities funds demonstrates investors’ confidence in the firm’s uniquely comprehensive value proposition. And SignalFire is the first venture capital firm built like a technology company to better solve for the needs of founders.
SignalFire’s proprietary AI platform Beacon tracks 495 million employees and over 80 million companies to provide deep insights for sourcing investments, assisting portfolio companies with recruiting, market competition, etc. And SignalFire also helps founders navigate the toughest parts of building a company at every stage, with experienced advisors, 200 skill-building workshops a year, and an in-house team of recruiters, data scientists, PR experts and go-to-market leaders.
SignalFire is the first venture capital firm built like a technology company to better solve for the needs of founders. The core of its value-add is Beacon, which is the AI engine SignalFire has been refining since the firm’s launch in 2013. Beacon tracks more than 495 million employees and 80 million companies to guide the fund’s investing and assist portfolio companies with scaling their teams and revenue.
Plus SignalFire also helps early-stage founders navigate the toughest parts of building a company at every stage, with expert advisors, 200 skill-building workshops a year, and an in-house team of recruiters, data scientists, PR experts and go-to-market leaders. With over $1.8 billion in assets under management, SignalFire focuses on leading seed rounds while opportunistically investing in Series A and B rounds. The key sectors include AI/ML, developer tools, healthcare, and cybersecurity with notable investments such as Frame.io, Grammarly, Flock Freight, Ro and Stampli.
“The XIR program attracts outstanding companies by providing operational assistance from these accomplished leaders of multi-billion-dollar companies. The value we can provide founders through the XIRs, recruiting technology, in-house go-to-market experts, and ample capital from this fundraise will cement SignalFire as the VC firm that helps across every stage of a startup’s growth.”
— Chris Farmer, founder and CEO of SignalFire
“Navigating today’s challenging market environment requires more than just capital. Startups in SignalFire’s portfolio have access to a highly differentiated support platform anchored by Beacon’s market intelligence, the firm’s deep technical experience, and a uniquely talented bench of investors and operating executives. The XIR program represents the best of that ethos: supporting the highest-potential startups through our experience, strategic counsel, and industry knowledge.”
— Frank Williams, one of SignalFire’s newly announced XIRs