Adwerx is a well-known advertising and re-targeting network for real estate agents (though if you’re not in that line of business, chances are you’ve never heard of it, of course). The Durham, NC-based company today announced that it has raised a $4.3 million funding round led by Grotech Ventures, with participation from Bull City Venture Partners and Alerion Ventures.
The funding round included investments from Osage Venture Partners, Bull City Venture Partners, New Enterprise Associates, and Battery Ventures
CHARLOTTESVILLE, VA – August 15, 2017 – VividCortex, the database performance management company that helps businesses improve application performance, reliability, and uptime, today announced that it has closed an $8.5 million Series A-1 round led by Osage Venture Partners (OVP). Bull City Venture Partners also participated in the round, as did all existing investors, including New Enterprise Associates (NEA) and Battery Ventures. As part of the financing, OVP Partner David Drahms has been appointed to the VividCortex Board of Directors. To date, VividCortex has raised $15 million.
"We’ve seen constant growth since our founding in 2012, with hundreds of international businesses using our database performance management platform daily to help run their systems more effectively," said Baron Schwartz, founder and CEO of VividCortex. "Earlier this year we expanded our leadership as we entered a new stage of high growth. This latest investment, by both existing investors and new partners, is a testament to our vision, strength of our team, and our ability to deliver tangible business value to our customers."
"We recognize that database performance management is an essential need for modern digital businesses," said Drahms, "and we look forward to partnering with the VividCortex team as they continue to raise the bar for what businesses can expect from system performance."
Schwartz added, "I'm excited to welcome David to our Board. It’s been a pleasure to work with the team at Osage over the last few months, and I’m looking forward to collaborating closely with them in the future."
Most application performance issues originate in the database, but engineering teams lack visibility into the data tier. VividCortex’s Database Performance Management platform provides unique insights into database workload and query performance, enabling teams to proactively resolve database issues faster. The result is better application performance, reliability, and uptime. Industry-leading companies like DraftKings, Etsy, GitHub, SendGrid, Shopify, and Yelp use VividCortex to innovate with confidence, visualizing, anticipating, and fixing database performance problems before they impact their applications and customers. For more information, visit https://www.vividcortex.com or follow us on Twitter, @VividCortex.
By Laura Baverman, ExitEvent
Durham VC firm Bull City Venture Partners releases annual entrepreneurs survey, with three notable changes from 2016
The folks over at Bull City Venture Partners compile a survey each summer to get a read from entrepreneurs across the Southeast and Mid-Atlantic on the state of startups and venture capital mid-year. Topics range from growth forecasting to capital raising to hiring plans and big concerns for the remainder of the year.
And while this year’s survey shows similar sentiments around the ability to raise funds, there are a three striking differences from 2016. First, more than double the number of companies from a year ago are growing revenue by 75 to 100 percent.
Second, is the sheer number of companies planning to raise capital still in 2017. BCVP records a 400% increase in planned $500,000 to $1 million rounds.
70% of companies surveyed plan to raise between $5 million and $10 million.
Third is a shift in hiring from sales to marketing and executives.
The hundreds of companies surveyed are all in tech industries, with the majority recording less than $1 million in revenue, fewer than 10 employees and with only seed funding.
In a quick synopsis, the BCVP team theorizes that CEOs are staying focused on revenue, which is leading to fewer funding rounds but larger ones when the time comes. Check out a Slideshare of the results here: