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Addepar

The global financial services industry has over $120 trillion of assets under management, but the industry suffers greatly from legacy software systems. There is no leading platform to spread innovation throughout global finance. Addepar is a wealth management platform that provides investment professionals with the tools required to manage complex global portfolios, and it is on an exciting path with ambition to modernize the global financial world.

 

“Addepar, the leading financial technology platform for the $120 trillion investment management industry, announced that it has been named one of the "Top 10 Most Innovative Companies in Personal Finance" in 2015 by Fast Company magazine.”

— PR Newswire,
Addepar Named One of Fast Company's Most Innovative Companies

“Some of the engineers who used to help the Central Intelligence Agency solve problems have moved on to another challenge: determining the value of every conceivable investment in the world.”

— New York Times,
Wealth Managers Enlist Spy Tools to Map Portfolios

    This investment was made out of Formation 8 Fund I and Eight SPV.

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    Wish

    ContextLogic is the creator of “Wish” and many other leading global e-commerce applications such as “Geek” and “Mama”, backed by next-generation algorithms for online advertising and context discovery. The company uses proprietary machine learning and natural-language processing to learn and predict consumer preferences, and it has become the fastest growing mobile e-commerce platform with over 100 thousand merchants and 100 million consumers. Formation 8’s stake in Wish alone is valued well above our $448 million Fund I size.

     

    “Wish’s meteoric rise, accomplished mostly under the radar, can be traced to a potent combination of tech, advertising and discounting strategies.”

    — Recode,
    Meet Wish, the $3 Billion App That Could Be the Next Walmart

    “Nearly 100 million free accounts have been registered, triple last June’s total. Today, the app offers roughly 40 million items from about 100,000 merchants.”

    — Wall Street Journal,
    Wish, a Direct-From-China Shopping App, Lures Bargain Hunters

      This investment was made out of Formation 8 Fund I and Starlight SPV I & II.

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      Illumio

      Illumio is a cybersecurity company focusing on discovering attacks inside the data center and public cloud, and reducing the blast radius once they are inside. The company’s Adaptive Security Platform (ASP) mirrors the dynamic, distributed, heterogeneous and hybrid computing operations the world is evolving to today. Leading enterprises are rapidly adopting Illumio ASP so they can now manage their infrastructure and applications securely, rapidly and at scale.

       

       

      “Illumio, the Adaptive Security Company, today announced that its Adaptive Security Platform (ASP)™ was named the Most Innovative Data Center Security Solution by Cyber Defense Magazine, the industry's leading electronic information security magazine and media partner of the RSA® Conference 2016.”

      — Market Wired,
      Illumio Named Most Innovative Data Center Security Solution

      “Illumio Shines a Light On Enterprise Security”

      — Forbes,

        This investment was made out of Formation 8 Fund I and the Limelight SPV.

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        OpenGov

        OpenGov helps improve government performance, process-efficiency, and transparency. OpenGov has coordinated with hundreds of cities and government thought-leaders to develop a SaaS product to store, track, analyze and communicate about expenditure and budget data, and to relate that data to every part of a government’s operational undertaking

        “OpenGov’s big idea: to enable these public administrators to see what’s going on internally and to communicate their findings to elected officials, all with the aim of helping each of them operate more effectively (and reduce waste).”

        — TechCrunch,
        OpenGov’s Zac Bookman On Doing “About the Hardest Thing”: Trying To Transform U.S. Governments

        “In the past year, OpenGov has made the kind of progress many startups can only dream of and with over 700 governments in 45 states using the platform…”

        — SFGate,
        How OpenGov strives to help governments meet the demands of the 21st century

          This investment was made out of Formation 8 Fund II.

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          Oscar

          Oscar is a technology-driven health insurance company that is setting the new national standard for excellence. It delivers better care and performance at a lower cost than existing insurance companies. Oscar uses technology to better engage patients and align incentives to eliminate inefficiencies in the healthcare industry.

          "Oscar has the new-era tech pedigree to become the Spotify, AirBnB or Uber of health insurance."

          — New York Times,
          Start-Up Health Insurer Finds Foothold in New York

            This investment was made out of Formation 8 Fund I and Oscar SPV I & II.

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            Radius

            Radius is a technology analytics company that helps B2B marketers find their best customers by achieving economies of scale with other B2B marketers. It has developed a platform with over one hundred million data points now contributed from hundreds of large corporations each day, and its vast information database and data science analytics have made it the system of choice for modern marketers.

            "Radius has grown into one of the more popular marketing software companies"

            — Business Insider,
            Facebook’s first intern just landed $50 million from Peter Thiel and other investors

            “Shirazi sees data analysis continuing to propel marketing, with the next generation of marketing automation being even more centered on marketing intelligence tools than the current one”

            — VentureBeat,
            Radius scores $54.7M as it helps make marketers smarter

              This investment was made out of Formation 8 Fund I and the Razer SPV.

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              RelateIQ

              RelateIQ developed cutting-edge relationship intelligence software. It was the first CRM with automated data collection, enabling teams to focus on managing the customer relationships and eliminating time spent on database upkeep. RIQ was acquired by SalesForce for over $400 million in 2014.

              "RelateIQ’s algorithms and interface, which functions roughly like a Google Now or Cortana, are now being used to create two new software programs for small businesses and Salesforce’s large corporate users."

              — Fast Company,
              RelateIQ, Salesforce's $390 Million "Siri For Business," Grows Up

              “In a nutshell, the RelateIQ platform captures sales data from email, calendars, smartphone calls and social media to provide business and sales insights in real time”

              — ZDNet,
              Q&A: How RelateIQ is filling the CRM gap for SMBs

                This investment was made out of Formation 8 Fund I and Mindlight SPV.

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                Oculus

                Oculus VR™ was the first technology company to create a virtual reality platform that lives up to the promise of VR, and for which content is being created for the masses. Virtual Reality has the potential to impact many industries including education, communication, psychiatry, and more. It is also a very exciting gaming platform. Although Joe led the investment for Formation 8, our partner Brian Koo was also key here, as he helped close a major Samsung partnership before our larger Series B participation. Oculus was acquired by Facebook for over $2 billion in 2014.

                "I was blown away by the first Oculus demo three years ago, and every demo since has been orders of magnitude better."

                — CNET,
                The $600 price of the Oculus Rift is worth it for this level of awesome

                "After a demo of the shipping version of the Oculus Rift, I'm more excited than ever to own one. The price seems totally reasonable for a first-generation product that delivers such an amazing experience."

                — CNET,
                The $600 price of the Oculus Rift is worth it for this level of awesome

                  This investment was made out of Formation 8 Fund I.

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                  Blend

                  Blend Labs is bringing efficiency and transparency to the multi-billion dollar mortgage origination industry with a vertical enterprise software strategy.  This top team features ex-Palantir founders and is showing very strong traction in an esoteric but large and important space.

                  “Blend Wants To Approve Mortgages In Minutes, Not Weeks”

                  — Fortune,

                  "Blend's engineers and data scientists are making the high-stakes mortgage transaction better for lenders and borrowers. They are changing the way the entire industry operates." -Peter Thiel

                  — Yahoo Finance,
                  Blend Secures $40 Million in Series C Funding

                    This investment was made out of Formation 8 Fund I.

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                    Color Genomics

                    Color Genomics offers affordable genetic testing and interpretation at a fraction of the cost that is otherwise available. The company launched in women’s health to help women understand genetic risk for breast and ovarian cancer and features one of the strongest technology teams in the space.

                    “Color Genomics Sells $249 Breast Cancer Gene Test to Masses”

                    — Bloomberg Business,

                    "The startup is trying to shake up the medical field by making genetic tests that would otherwise cost up to several thousand dollars available for just a few hundred.”

                    — Fortune,
                    Color Genomics raises $15 million to make medical testing cheaper

                      This investment was made out of Formation 8 Fund I.

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                      Buildzoom

                      Buildzoom helps consumers navigate the world of home remodeling by connecting homeowners to the most reliable contractors in their area. Their growth is extraordinary, and the vertical enterprise platform they are building is set to transform how contractors and homeowners do business in this $350 billion a year space.

                      "BuildZoom takes information such as project costs, the number of clients a contractor has had and other metrics to make finding information relevant to homeowners easy."

                      — Meridian Press,
                      BuildZoom Brings Data To Homeowners

                      "As if big data and data science haven’t been reshaping every service and product we use already, it’s about to make shopping for a home improvement contractor hopefully that much better."

                      — VentureBeat,
                      With a fresh $2.15M, BuildZoom crunches data to pick the best home improvement contractors

                        This investment was made out of Formation 8 Fund I.

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                        Guardant Health

                        Guardant Health is committed to positively and significantly impacting patient health through technology breakthroughs in oncology.

                        This investment was made out of Formation 8 fund II.

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                        Nyansa

                        Enterprise IT Operations teams are buried under tickets with little insight into historical system performance or predictive analytics. Nyansa solves the growing disparity between legacy IT Ops and the Modern Enterprise environment with clever machine learning and is set to be a disruptive player. A few of our key allies directed us to Abe and his strong team here, and our Formation 8 partner, Shirish, has a long history in this space and was already involved—he sits on this board for Formation 8 Fund II.

                        This investment was made out of Formation 8 Fund II.

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                        Castle Global

                        Castle Global builds mobile consumer products for a more connected and autonomous world.

                        This investment was made out of Formation 8 Fund II.

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                        Neighborly

                        Neighborly is the municipal bond marketplace where you can invest in the local projects you care about.

                        This investment was made out of Formation 8 fund II.

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                        Zenreach

                        Zenreach helps brick and mortar stores optimize their ‘Walk Through Rate’ by providing insights and information about their customers’ buying habits. Their online-offline platform is scaling rapidly, already gathering data points on millions of consumers. The company is set to play an important role in the SMB economy.

                        This investment was made out of Formation 8 Fund II.

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                        Blink Health

                        Blink Health is the first telemedicine platform for pharmaceutical companies to measure ROI on their advertising, offering consumers the lowest prices on their prescription medications. It also deploys PBM strategies to take advantage of a large number of consumers to get much lower prices—often 70 to 90% lower—on generic pharma, which is relevant both for under-insured and fully insured patients. This gives it a huge reach to create its platform.

                        “The lowest prices for generic prescriptions”

                        — New York Times,
                        New Online Tools Offer Path to Lower Drug Prices

                        "A New App Can Help You Get Cheaper Medicine"

                        — Huffington Post,

                          This investment was made out of Eight SPV.

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                          Affinity

                          Affinity allows people to leverage their networks more effectively and to be more aware of the network-based information relevant to their goals. It applies to business development, sales, recruiting, fundraising, deal-sourcing, portfolio company management, and other activities. Inspired in part by RelateIQ and what is possible to achieve with machine learning and automatic data capture in the next generation of Productivity IT platforms, this team of Stanford entrepreneurs, alongside our partners Joe and Drew, is building an ambitious platform that has much of our network excited to be customers

                          This investment was made out of Eight SPV.

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                          Qualia

                          Qualia is a leading provider of software to the title insurance industry.

                          This investment was made out of Formation 8 Fund II.

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                          Progressly

                          Progressly’s mission is to become the de-facto system of record for enterprise business processes. Enterprises today are plagued with difficult to use, antiquated business process solutions that hinder them to run their operations efficiently and effectively. Progressly enables enterprises to document processes, collaborate and gain contextual insights to business outcomes. Companies such as Comcast, Shell, Wells Fargo, Valero, and others rely on the Progressly platform to create a “better way of working,” by centralizing processes and removing unnecessary manual interactions for all employees.

                          This investment was made out of 8VC Fund I.

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                          Common

                          Common creates communities of people who know their neighbors, offering friendly, welcoming, and convenient shared housing in major US cities.  Common partners with real estate owners and developers to generate higher real estate returns while delivering better resident experiences through technology and design.

                          This investment was made out of 8VC Fund I.

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                          Joby Aviation

                          Joby Aviation is revolutionizing transportation with personal electric VTOL aircraft.

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                          LoadDocs

                          eManagement for Transportation loads. Upload and share load documentation in an easy to use and searchable solution for your computer and phone.

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                          Alloy

                          Alloy provides seamless visibility into product and supply chain performance. Make the products that customers want, move the right products to the right places, and sell more.

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                          Plated

                          Plated home-delivers 30-minute gourmet recipes and ingredients.

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                          Rested

                          Advanced sleep tracking technology to assess your risk of sleep apnea.

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                          Showroom

                          Showroom allows interior designers to create their own furniture lines and promote their brands.

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                          Shogun

                          Shogun is a financial services company focusing on unsecured consumer debt currently operating in stealth mode

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                          Synthego

                          Precision and automation for genome engineering – enabling rapid, cost-effective research with consistent results for every scientist.

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                          Ubiome

                          uBiome gives you access to cutting edge DNA sequencing technology to understand your microbiome. uBiome is the world’s first effort to map the human microbiome with citizen science.

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                          Honor

                          Honor provides personalized home care for people who want to continue to live in the homes they love—safely and happily—as they age.

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                          MakeSpace

                          MakeSpace is a next generation full-service storage company designed from the ground up to take the pain out of using a traditional self-storage unit. Their customers no longer have to schlep back and forth to a self storage facility. They hope to be the easiest “self-storage” company in New York City (and many other cities to come).

                          "Gone are the usual limits of square footage, vehicle accessibility, and moving muscle strength – MakeSpace covers it all so customers don’t have to think through these details," - Kimmy Scotti, 8VC Partner and MakeSpace Board Member

                          — TechCrunch,
                          MakeSpace raises $30 million to store your belongings

                            We partner with the world’s most visionary CEOs and top technology teams. Our mission is to identify great potential and to fuel transformative ideas that can help fix the world. We foster a community of companies to share knowledge, accelerate learning, and create unfair advantages for each other.

                            The 8VC team has led major rounds into each of these companies, and we count the entrepreneurs as friends and allies. We are proud that they allowed us to participate in their success.

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