Battery Ventures is a global technology-focused investment firm founded in 1983, specializing in venture capital and private equity for software, SaaS, IT infrastructure, and industrial-tech startups. With over $15B in assets, it fuels growth-stage companies like Amplitude and CloudCheckr while nurturing early-stage innovators. Battery’s hands-on approach and sector expertise make it a catalyst for transformative tech advancements.
How Did Battery Ventures Evolve Over Four Decades?
Battery Ventures began in Boston in 1983, initially targeting hardware and semiconductors. Over decades, it pivoted to software and SaaS, expanding to Menlo Park, London, and Tel Aviv. Key milestones include raising its first $10M fund in 1985, launching growth-equity strategies in the 2000s, and recent investments in AI and cybersecurity, reflecting adaptability to market shifts.
The firm’s evolution mirrors broader tech industry trends. In the 1990s, Battery capitalized on the rise of enterprise software, backing companies like NetGenesis (acquired by SPSS). The 2000s saw a strategic shift toward SaaS models, with early bets on Omniture (later sold to Adobe) and Wayfair. By 2010, Battery formalized its “Stage Agnostic” approach, allowing simultaneous investments in seed-stage startups and mature companies. This flexibility proved critical during the 2022 market correction, where Battery redirected capital toward recession-resilient sectors like cloud security and DevOps tooling. The firm’s geographic expansion—now spanning three continents—enables it to identify regional innovation hotspots, such as Israel’s cybersecurity ecosystem.
What Industries Does Battery Ventures Prioritize?
Battery focuses on software/SaaS (60% of investments), IT infrastructure (20%), industrial tech (15%), and consumer tech (5%). Recent trends highlight cloud-native platforms, DevOps tools, and AI/ML applications. The firm avoids capital-intensive sectors like biotech, favoring scalable, subscription-based models with recurring revenue streams.
Which Companies Define Battery Ventures’ Portfolio?
Notable exits include Glassdoor (sold to Indeed for $1.2B) and Amplitude (IPO 2021). Current high-growth holdings include CloudCheckr (cloud cost management) and Snyk (devsecops). Battery’s portfolio emphasizes B2B solutions, with 70% in enterprise software and 30% in infrastructure/consumer tech. Early bets on UiPath (RPA) showcase its foresight in automation trends.
How Does Battery Ventures Support Global Expansion?
Battery’s London office targets European cloud migrations, while Tel Aviv focuses on cybersecurity. Portfolio companies like Snyk (UK/Israel) leverage Battery’s cross-border GTM playbooks. The firm hosts annual “Global Scaling Summits” connecting founders with international partners, and 35% of its portfolio achieves overseas revenue within 18 months post-investment.
To facilitate cross-continental growth, Battery maintains regional expert teams who map local regulatory landscapes and partner ecosystems. For example, its European team specializes in GDPR-compliant SaaS deployments, while the Tel Aviv group brokers partnerships between cybersecurity startups and Israeli defense contractors. The firm’s expansion toolkit includes:
| Region | Focus Area | Key Portfolio Companies |
|---|---|---|
| North America | Enterprise SaaS | Amplitude, Braze |
| Europe | Cloud Infrastructure | Snyk, Darktrace |
| Middle East | Cybersecurity | SentinelOne, Axonius |
Expert Views
“Battery’s differentiation lies in operational rigor—they don’t just write checks. Their Growth Suite benchmarks helped us optimize CAC by 40% pre-Series B.” — CTO of a Battery-backed DevOps unicorn.
“Few VC firms grasp industrial tech’s hardware-software interplay. Battery’s manufacturing pod advised our IoT rollout across 15 factories.” — CEO of industrial AI startup.
“Their Europe-U.S. bridge is unparalleled. We scaled to $20M ARR in EU markets using Battery’s partner network.” — Founder of a cybersecurity portfolio company.
FAQs
- Does Battery Ventures Invest in Seed-Stage Startups?
- Yes, Battery’s seed program offers $1M–$5M for early-stage B2B software firms, often via convertible notes. 20% of its 2023 deals were seed-stage.
- How Selective is Battery Ventures?
- Battery reviews 3,000+ companies annually, investing in ~35. Key criteria: $2M+ ARR, 100%+ YoY growth, and founder/operator alignment with its sector pods.
- Has Battery Ventures Backed Any Unicorns?
- Over 50 portfolio companies have reached unicorn status, including Amplitude, Braze, and Snyk. Battery’s average ownership at exit is 18–22%.