Shasta Ventures
From Wikipedia, the free encyclopedia
Shasta Ventures is an early-stage venture capital investment firm located in Silicon Valley that invests in enterprise and technology consumer startups.[1] It is located on Sand Hill Road in Menlo Park.[2]
 | |
| Industry | Venture capital |
|---|---|
| Founded | 2004 |
| Founder | Rob Coneybeer, Ravi Mohan |
| Headquarters | Menlo Park, California |
| Website | shastaventures |
Funds
Investment philosophy
Shasta was originally focused on companies in the consumer technology space, with then managing director Tod Francis calling Mint.com a "classic Shasta" investment in September 2011.[4]
In September 2013, Rob Coneybeer of Shasta, the new managing director, said that he was betting big on hardware startups, citing Moore's Law-style continued performance improvements making opportunities for new hardware possible.[6]
Companies
Mint.com
Shasta Ventures was an early investor in Mint.com, an online personal finance management service that was bought in September 2009 by financial software company Intuit for US$170 million in cash.[7] An article by Alexia Tsotsis for TechCrunch quoted Shasta's managing director Tod Francis as using the phrase "Classic Shasta" to describe Shasta's investment in Mint.com.[4]
Nest Labs
Shasta Ventures and Kleiner Perkins Caufield & Byers were the only investors in the Series A round for Nest Labs (the home automation company) in September 2010. When Google later bought Nest Labs for US$3.2 billion in January 2014, Shasta had a net gain of about $200 million, enough to pay out "almost all" of the $250 million Shasta II fund.[3][8][9][10]
Other investments
Shasta has invested in a number of other companies[11] such as Anaplan, Brandcast,[12] Entelo,[citation needed] Leanplum, Nextdoor,[13] Lithium Technologies,[14] Logoworks,[citation needed] Zuora,[15] Tally Technologies,[16][17][18] Spiceworks,[19] Stealth Security,[20] and VoloMetrix.[citation needed]
