Fundraising Fox

Updata Partners

Growth equity

Washington · Growth–Late Stage · 38 people tracked

Also known as UPDATA MANAGEMENT, LLC

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Investment thesis

Updata Partners invests in growth-stage B2B software and AI-driven companies based outside the Bay Area. It targets bootstrapped or lightly capitalized businesses with $5-50M ARR growing 25-100%+, writing equity checks of roughly $20-200M. The firm favors leaders who combine a growth mindset with capital efficiency, typically those with recurring-revenue models, repeatable go-to-market engines, and strong unit economics. Positioning itself as built by operators for operators, Updata offers board-level support, a curated network of vetted executives and advisors, and its proprietary BASE framework, emphasizing durable unit economics and thoughtful capital allocation over growth at all costs.

Source: firm website, verified Aug 25, 2026.

Stage
Growth–Late Stage
Check
$20M – $200M
HQ
Washington, District of Columbia, US
Instruments
Equity
Founded
2014
Last 12 months
1 investment
Private fund assets
$2.6B
VC funds
10
Tracked investments
88

Team · 38 people

from the firm's website
Alex Pinchev· Operating Advisor
Chris Cook· Operating Advisor
Derek Langone· Operating Advisor
Larry Freed· Operating Advisor
Pat Cox· Operating Advisor
Ryan Duguid· Operating Advisor
Simon Wilson· Operating Advisor
William Spruill· Operating Advisor

6 people who came through Updata Partners went on to found or lead other companies.

What they invest in

from 33 of 88 portfolio companies

SaaS ×22Enterprise Software ×17AI & Machine Learning ×14Cybersecurity ×7Data & Infrastructure ×6Marketing Tech ×6HR Tech ×5Developer Tools ×4

HQs:United States×21United Kingdom×2Netherlands×1

Who they back

founder profiles across 11 portfolio companies
64%
solo founders
7 of 11 mapped founding teams
~2.5 yrs
old at investment
median across 8 dated deals

Founding team size:solo founder×72 founders×33 founders×1

Investments · 88 tracked

founders shown can be your intro path

By year:2026 · 12023 · 42020 · 12019 · 12018 · 12016 · 32015 · 12014 · 22012 · 22011 · 218 dated

Bigleaf Networksbigleaf.netin𝕏Oct 2023

Bigleaf provides SD-WAN and network optimization technology that manages connectivity across satellite, cellular, and metered circuits, offering automatic failover, redundancy, and data cap enforcement.

Cloud ComputingEnterprise SoftwareSaaSBeaverton, US

JOEL MULKEY(Executive Officer, Director)JOHN DESMOND(Director)BRUCE CHATTERLEY(Director)JEFF BURCHETT(Executive Officer)

Board seatJon Seeber· per SEC Form D

Co-investorsAlliance of AngelsBreakwater VenturesEastward Capital PartnersGoAhead VenturesOregon Venture FundPortland Seed Fund+1 more

Bradford Networksbradfordnetworks.comJun 2016

Concord, US

Jessica Bailey(Executive Officer)Robert Scott(Executive Officer, Director)

BoardJohn Bullock(Director)Daniel Moss(Director)Harry Ruda(Director)

Board seatCarter Griffin· per SEC Form D

Co-investorsWindspeed Ventures

Cdatacdata.comMar 2020

CData provides a centralized data connectivity layer that unifies hundreds of SaaS apps, databases, and on-prem systems behind one relational interface, giving AI agents governed, authenticated, and audited access to live business data via MCP.

AI & Machine LearningData & InfrastructureEnterprise SoftwareChapel Hill, US

Gent Hito(Executive Officer, Director)Amit Sharma(Executive Officer, Director)inKathy Priest(Executive Officer)

BoardJohn Burton(Director)inReid Conrad(Director)

Board seatCarter Griffin· per SEC Form D

Co-investorsAccelWarburg Pincus

Community VenturesJul 2019SEC filingmedium confidence

Chicago, US

Maria Katris(Chief Executive Officer and Manager)Matt Moog(Manager)

BoardEllen Carnahan(Manager)Richard Burke(Manager)

Board seatCarter Griffin· per SEC Form D · $22M raise · filed Jul 2019

HG DataMar 2016SEC filingmedium confidence

Santa Barbara, US

Craig Harris(Executive Officer, Director)Dave Ruehlman(Executive Officer)Tim Baskerville(Executive Officer, Director)David Ruehlman(Secretary & CFO)

BoardJames Morouse(Director)Erwin Lenowitz(Director)

Board seatJon Seeber· per SEC Form D · $12M raise · filed Mar 2016

Lendkeylendkey.cominMar 2016

LendKey operates an online lending platform that connects borrowers with credit unions and community banks for private student loans, auto loans, and personal loans.

B2B MarketplacesFintechMarketplacesSaaSNew York, US

Vincent Passione(Executive Officer, Director)Vince Passione(CEO & Founder)inAnoop Thyagarajan(Co-founder, Platform Engineering, Information and Data Security, and Infrastructure)in

BoardJosh Stein(Director)Danny Schultz(Director)

Board seatCarter Griffin· per SEC Form D

Co-investorsNorth Atlantic CapitalGotham VenturesStifel Financial CorpThreshold VenturesZelkova VenturesTTV Capital

Liongard Inc.May 2026

Houston, US

Joseph Alapat(Executive Officer, Director)Michelle Accardi(Executive Officer, Director)Mayank Singhvi(Executive Officer)Nghia Tran(Executive Officer, Director)

BoardDan Moss(Director)James Pastoriza(Director)

Board seatCarter Griffin· per SEC Form D

Co-investorsLookout Ventures

Nexii Building Solutions Inc.Aug 2023SEC filingmedium confidence

Vancouver

William Tucker(Executive Officer)Ben Dombowsky(Executive Officer)Ram Charan(Director)Ronald Sugar(Director)James Socas(Director)Todd Buchanan(Executive Officer)

Board seatJames Socas· per SEC Form D · $10M raise · filed Sep 2023

Performyardperformyard.comin𝕏Dec 2023

PerformYard is a performance management platform that combines performance reviews, goal tracking, continuous feedback, engagement surveys, and 1:1 meetings in one AI-assisted system.

AI & Machine LearningFuture of WorkHR TechSaaSArlington, US

Sean DunninBenjamin Hastings(Executive Officer, Director)

Board seatCarter Griffin· per SEC Form D

Co-investorsChartline Capital Partners

Pianopiano.ioinDec 2018

Piano provides event tracking and analytics infrastructure serving over 1,000 clients across 12 countries.

AdTechAI & Machine LearningData & InfrastructureEnterprise SoftwareMarketing TechSaaSAmsterdam, NL

Trevor Kaufman(Executive Officer, Director)Tim Dirrenberger(Executive Officer)Allison Munro(Executive Officer)Kweli Washington(Executive Officer)Alex Franta(Executive Officer)

Board seatJon Seeber· per SEC Form D

Co-investors3TS Capital PartnersNeulogy VenturesRittenhouse VenturesRunway Growth CapitalVCFA Group

Ruby ReceptionistsDec 2014

Portland, US

BoardJill Nelson(Executive Officer, Director)

Board seatCarter GriffinJon Seeber· per SEC Form D

Sawbuck RealtyNov 2015SEC filingmedium confidence

Bethesda, US

Guy Wolcott(Executive Officer, Director)Thomas Byrne(Director)Katy Murray(Director)Mark Walsh(Executive Officer, Director)Robert Stewart(Director)William Savage, Jr.(Director)

Board seatCarter Griffin· per SEC Form D · $7M raise · filed Feb 2018

Acclaris
Acuity Insightsacuityinsights.comJul 2023

Toronto

Bernard Lim(Director)Kelly Dore(Director)Dan Moss(Director)Rich Emrich(Executive Officer, Director)Matt Holland(Director)

BoardJim Liang(Director)in

Adthenaadthena.com

Adthena provides a search intelligence platform that helps enterprise brands monitor and act on competitive activity across paid search surfaces, from Google Ads to AI-driven results like ChatGPT.

AdTechAI & Machine LearningMarketing Tech

Andrew Evetts(Founder)

Alert Logicalertlogic.comin𝕏Dec 2014

Alert Logic delivers managed security services including threat detection and response, cloud security, and incident readiness for enterprises.

CybersecurityEnterprise SoftwareHouston, US

Paul Marvin(Executive Officer)Jim Lewandowski(Executive Officer)Robert Grayson Hall(Executive Officer, Director)

BoardDarren Battistoni(Director)Tony de Nicola(Director)Lisa Pearson(Director)

Co-investorsMercury FundWCAS

Amber Roadamberroadtrade.com

Amber Road provides global trade management software that helps companies digitize their supply chains, automate import/export trade compliance, screen trade parties, and gain visibility into shipments across regions.

Enterprise SoftwareLogistics & Supply ChainSaaS

Appfluent
Benivobenivo.comin𝕏

Benivo provides employee relocation services combined with a SaaS platform for global mobility management, supporting policies such as managed services, lump sum, core-flex, and immigration on a single platform.

Future of WorkHR TechSaaSLondon, GB

Nitzan Yudan(Founder & CEO)in

Co-investorsGranatus VenturesSalica Investments

BoxCastboxcast.comin𝕏

BoxCast provides live video streaming hardware and software, including pocket-sized encoders, a proprietary streaming protocol, OTT apps, and cloud-based audio mixing tools for broadcasters.

Creator EconomyHardwareMedia & EntertainmentSaaSCleveland, US

Gordon Daily(Executive Officer, Director)inSam Brenner(Executive Officer)Tera Mitter(Executive Officer)Peter Spaulding(Executive Officer)Mike Griffith(Executive Officer)Ron Hopper(Executive Officer)

Co-investorsFirst Leaf CapitalJumpstart Ventures

Bridge Energy Group
Bridge2 Solutions
Built Inbuiltin.com

Built In operates an AI-powered platform connecting employers and job candidates, offering job listings and company insights to help people find where to work.

Future of WorkHR TechMarketplaces

Co-investorsBonfire VenturesDeciensDundee Venture CapitalPre-Seed to SucceedSteelSky Ventures

Cmware
Collective Bias
Contactmonkeycontactmonkey.com

ContactMonkey is an internal communications platform that lets teams create, send, and measure employee emails, newsletters, and surveys directly from Outlook or Gmail, with AI-assisted editing and analytics.

Enterprise SoftwareHR TechSaaS

Corestreet
Datacore Software
E Security
Everest Software
First Insightfirstinsight.comin

First Insight provides an AI-powered decision platform for retailers, brands, and manufacturers, using consumer feedback and predictive analytics to guide product design, merchandising, assortment planning, pricing, and supply chain decisions.

AI & Machine LearningRetail TechSaaSSewickley, US

Gregory J. Petro(Executive Officer, Director)Matthew Marshall(Executive Officer)James Maloney(Executive Officer)

BoardRichard Marcus(Director)Joel Adams(Director)

Co-investorsAdams Capital ManagementEscalate Capital Partners

First Insight
Foresee
Fusionauthfusionauth.io

FusionAuth is a customer identity and access management (CIAM) platform that manages authentication and access for users, services, and AI across self-hosted or cloud environments.

CybersecurityDeveloper ToolsSaaS

Getpaid
Glassboxglassbox.comin𝕏Dec 2011

Glassbox provides a digital experience intelligence platform that automatically captures interactions from websites and mobile apps to analyze user behavior, performance, and session data.

AI & Machine LearningData & InfrastructureEnterprise SoftwareMarketing TechSaaSGlen Head, US

Yaron Gueta‏(Founder)inRichard Levinson(Executive Officer)Eric Wheeler(Director)Marianne Caponnetto(Director)Christopher Hummel(Executive Officer)Dorothy Young(Executive Officer, Director)

Co-investorsBrighton Park CapitalStand Up VenturesSusquehanna Growth EquityFinTech CollectiveGefen CapitalIbex Investors+3 more

Harmony Information Systemsharmonyis.comacquired by WellSky

Digital HealthEnterprise SoftwareHealthtechSaaS

Co-investorsJMI Equity

HG Insightshginsights.comin

HG Insights provides AI-driven B2B intelligence datasets covering markets, technology adoption, IT spend, and buyer intent, along with analytics, copilots, and AI agents that automate go-to-market execution.

AI & Machine LearningData & InfrastructureMarketing TechSaaSSales Tech

Rohini Kasturi(Chief Executive Officer)inSatish Grandhi(Chief Technology Officer)inVibhu Pratap(Chief Development Officer)inScott Gordon(Chief Marketing Officer)in

Co-investorsBenhamou Global VenturesBonfire VenturesCounterpart VenturesEPIC VENTURESRiverwood CapitalScOp Venture Capital

Homesnaphomesnap.com

Co-investorsRevolution

Icontact

David Brown(Co-founder)

Improvadoimprovado.ioin𝕏

Improvado is a marketing data platform that connects to 1000+ marketing sources across paid, organic, CRM, analytics, retail media, and ecommerce, maps them to a shared data model, and delivers dashboards and AI-driven answers.

AI & Machine LearningData & InfrastructureMarketing Tech

Daniel Kravtsov

Co-investors500 GlobalBullpen CapitalCabra VC

Improvado
Interactions
Isheriff
Jama Softwarejamasoftware.comin

Jama Connect is a requirements management platform used by technology and aerospace companies for product development and compliance.

Developer ToolsEnterprise SoftwareSaaS

Co-investorsFrancisco PartnersInsight PartnersMadrona Venture GroupOregon Venture Fund

Jellyvisionjellyvision.comin𝕏

Jellyvision creates custom digital communication tools and content—such as videos and interactive experiences—to help employers raise employee awareness and engagement with their benefits programs.

HealthtechHR TechInsurTechSaaS

Brian Meager(President)inBrynn Michelich(Chief Operating Officer)inAshley Ferguson(Chief Revenue Officer)inDeepa Sharan(Chief Technology Officer)in

Co-investorsJackson Square Ventures

Jellyvision
Jobs2Web
July SystemsFeb 2012

Santa Monica, US

Rajesh Reddy(Executive Officer, Director)Venkat Ramaswamy(Director)Gopal Rangachary(Executive Officer)Carter Griffin(Director)Surendra Jain(Director)Neill Brownstein(Director)

Kryon Systemskryonsystems.cominacquired by Nintex

AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaS

Co-investorsFrancisco PartnersOak HC/FTR136 VenturesSavano Capital Partners

LandTechland.techin𝕏

LandTech is a platform that combines market, planning, and contextual data to help land and property professionals source, assess, and progress development sites from opportunity through to planning submission and funding.

Construction TechData & InfrastructurePropTech

Co-investorsJLL Spark Global VenturesJLL Spark

Living Securitylivingsecurity.comin

Living Security offers a human risk management platform that measures and responds to employee security behaviors rather than relying solely on awareness training.

CybersecurityEnterprise SoftwareSaaSAustin, US

Ashley Rose(CEO & Co-Founder)Drew Rose(Co-Founder)

Co-investorsCathexis VenturesSilverton Partners

Logi Analyticsacquired by Marlin Equity Partners

Web-based business intelligence software (acquired by Marlin Equity Partners)

Co-investorsLLRSummit Partners

M86 SecurityJan 2012

Irvine, US

Philip Weston(Director)John Vigouroux(Executive Officer, Director)Bruce Green(Executive Officer)Mahendra Vora(Director)Simon Wilson(Director)Michael Eisenberg(Director)

Mashable
Matilda Cloud
MD Integrations

Co-investorsXRC

Merlin Technologies
Mp Objects
Nerdiogetnerdio.comin𝕏

Nerdio builds Nerdio Manager, a management and automation platform for cloud virtual desktop infrastructure (VDI) and Desktop as a Service, with native integration to Microsoft tools such as Azure Virtual Desktop.

Cloud ComputingEnterprise SoftwareSaaS

Vadim Vladimirskiy(Co-founder & CEO)inJoseph Landes(Co-founder & President)in

Co-investorsGeneral AtlanticMK CapitalLead Edge Capital

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Exits · 4

IPOs and acquisitions across the tracked portfolio

Harmony Information Systemsacq. by WellSkyKryon Systemsacq. by NintexLogi Analyticsacq. by Marlin Equity PartnersNetwrixacq. by TA Associates

Portfolio news

latest coverage across their companies

Fund performance · per public LP disclosures · 8

as of Dec 2025
FundVintageCommittedNet IRRTVPIDPI
Updata Partners VII, L.P.LPs: Texas Municipal Retirement System, District of Columbia Retirement Board202233.6%1.64x0.40x
Updata Partners VI, L.P.LPs: Texas Municipal Retirement System, District of Columbia Retirement Board202017.2%1.89x0.70x
Updata Co-InvestmentLPs: San Diego City Employees' Retirement System201416.5%2.83x2.83x
Updata Partners V, L.P.LPs: Texas Municipal Retirement System201418.4%2.16x1.34x
Updata Partners IVLPs: The Regents of the University of California20079.9%1.31x1.31x
Updata Venture Partners IV, L.P.LPs: The Regents of the University of California200712.5%1.37x0.10x
Updata Partners IIILPs: The Regents of the University of California20057.6%1.55x1.55x
Updata Venture Partners III, L.PLPs: The Regents of the University of California2004-0.5%0.97x0.67x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Updata Partners made?
Updata Partners has 80 tracked investments, 3 of which have exited via acquisition or IPO, including 1 dated in the last 24 months.
What stage does Updata Partners invest at?
Updata Partners invests at the Growth, Late Stage stages.
What is Updata Partners's typical check size?
Updata Partners typically writes checks of $20M – $200M.
What sectors does Updata Partners focus on?
Updata Partners focuses on AI & Machine Learning, Enterprise Software, SaaS.
Where is Updata Partners located?
Updata Partners is headquartered in Washington, US.
Who does Updata Partners co-invest with?
Updata Partners most often shares deals with Accel, Bonfire Ventures, Francisco Partners, among 63 tracked co-investors.

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Updata Partners photo

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