2020 Year in Review

2020

Year

in

Review

2020

Year

in

Review

2020 has been a year like no other. We look forward to another year of growth, partnership and community as we together face new opportunities in our new normal.

$500,000,000+

2020 Invested Capital

150

Active Portfolio Companies, Including

Aisera

Aktana

Algorithmia

American Endovascular

Avalyn Pharma

Avetta

Birdies

Bluecore

Button

Brite Semiconductor

Calm

Casper

Celona

Clarus Commerce

Clever Care

Cognitive Scale

College Pulse

Common Living

Copper

Cority

Cynet

Dave

DeVoro Medical

Dremio

DTEX

Envisage

Ess Kay

Exabeam

Faire

Five Star Finance

Galvanize

Gateway Learning

Gong

Grove Collaborative

HoneyBook

Impel

Impel NeuroPharma

Imperfect Foods

Influx Data

Infutor

Jolyn Clothing

Junk King

Karat

Kendra Scott

Legion

Sunshine

Madison Reed

Memphis Meats

Minted

Modsy

Monogram Health

MTN OPS

Neocis

Next Health

OfBusiness

Omada

oneNav

Opendoor

PCH International

Pepperfry

Plaid

Policygenius

Prevedere

Qualified

Qventus

Replicant

Ritual

Robin Healthcare

Route92

Science Exchange

Simpplr

Senreve

SlashNext

SmartSign

Spiff

Sqiggy

Talkspace

Target RWE

Tempo

TigerConnect

Topo Athletic

Udemy

Uplevel

VANMOOF

VAST Data

VisitPay

Vuori

WekaIO

Wiliot

Wine Access

Workato

Wyze Labs

YipiData

ZineOne

9.5b

Under Management

Aisera

Aktana

Algorithmia

American Endovascular

Avalyn Pharma

Avetta

Birdies

Bluecore

Button

Brite Semiconductor

Calm

Casper

Celona

Clarus Commerce

Clever Care

Cognitive Scale

College Pulse

Common Living

Copper

Cority

Cynet

Dave

DeVoro Medical

Dremio

DTEX

Envisage

Ess Kay

Exabeam

Faire

Five Star Finance

Galvanize

Gateway Learning

Gong

Grove Collaborative

HoneyBook

Impel

Impel NeuroPharma

Imperfect Foods

Influx Data

Infutor

Jolyn Clothing

Junk King

Karat

Kendra Scott

Legion

Sunshine

Madison Reed

Memphis Meats

Minted

Modsy

Monogram Health

MTN OPS

Neocis

Next Health

OfBusiness

Omada

oneNav

Opendoor

PCH International

Pepperfry

Plaid

Policygenius

Prevedere

Qualified

Qventus

Replicant

Ritual

Robin Healthcare

Route92

Science Exchange

Simpplr

Senreve

SlashNext

SmartSign

Spiff

Sqiggy

Talkspace

Target RWE

Tempo

TigerConnect

Topo Athletic

Udemy

Uplevel

VANMOOF

VAST Data

VisitPay

Vuori

WekaIO

Wiliot

Wine Access

Workato

Wyze Labs

YipiData

ZineOne

60 Years

of Investments and Innovation

1997

0.3B

Fund

1999

0.325B

Fund

2000

0.3B

Fund

2002

0.4B

Fund

2006

0.65B

Fund

2010

1.2B

Fund

2014

1.2B

Fund

2016

1.2B

Fund

2018

1.5B

Fund

2019

2B

Fund

2020

2B

Fund

76

New and Follow-on Investments, Including

Faire Logo Dremio Logo Vuori Logo Gong Logo Imperfect Foods Logo Grove Logo Tempo Logo
Memphis Meats Logo VanMoof Logo Wyze Logo Udemy Logo SmartSign Logo Workato Logo
Avalyn Pharma Logo Dave Logo Mtn Ops Logo Calm Logo Talkspace Logo Celona Logo Impel NeuroPharma Logo

Liquidity Events

Including

We are very proud of our innovative founders and CEOs who are building impactful businesses

Opendoor Logo

SPAC

HealthCatalyst Logo

IPO

Shape Security Logo

Acquired by F5 Networks

Blue Jeans Logo

Acquired by Verizon

CyberX Logo

Acquired by Microsoft

National Stock Exchance of India Logo

Acquired by Ericsson

Cradlepoint Logo

NSE of India – Liquidity Transaction

We are very proud of our innovative founders and CEOs who are building impactful businesses

Firm News

Dave Zilberman

New Hire

Dave
Zilberman

General Partner

Dave Zilberman

General Partner

Dave joined Norwest as general partner in November 2020 where he focuses on early to late-stage investments in enterprise and infrastructure. Dave has been working with early stage companies as an operator, advisor and investor for over 20 years. He joins Norwest from Comcast Ventures where he served as the senior managing director running their enterprise and infrastructure practice. His notable investments include Aporeto, BitSight, Brightside, DocuSign, Lendio, Slack, and Vox Media.

Stew Cambell

Promotion

Stew
Cambell

Partner, Growth Equity

Stew Cambell

Partner, Growth Equity

Stew focuses on investments across a wide range of sectors at Norwest including information technology, business services, software, media and consumer. Stew’s current investments include Galvanize, Jolyn, Junk King, SmartSign, and Vuori. Stew was previously involved with Norwest’s investment in The Learning Experience (acquired by Golden Gate Capital) and Turnitin (acquired by Advance).

Stew Cambell

Promotion

Ran
Ding

Partner, Growth Equity

Ran Ding

Partner, Growth Equity

Ran Ding joined Norwest as an associate in 2011 and has supported the investments and gainful exits in 1010data, Appriss, Avetta, Cority, The Rainmaker Group, The Retail Equation and Kendra Scott. He has helped drive the firm’s work in compliance technology, vertical SaaS and data / information services investment strategies, helping to source Cority in addition to currently working with Avetta, Galvanize (fka ACL), Infutor and YipitData.

Stew Cambell

Promotion

Ryan
McDonald

Principal, Healthcare GE

Ryan McDonald

Principal, Healthcare GE

Ryan focuses on growth equity and late-stage venture investments in healthcare, including healthcare services, healthcare IT, medical devices and digital health. He is actively involved with Norwest’s investments in American Endovascular, Blue Cloud, Gateway Learning Group, Onsite Dental, Rivermend Health, TARGET PharmaSolutions, Capsugel (acquired by Lonza), Crossover Health (acquired by Gurnet Point Capital), and iCardiac (acquired by ERT).

Five Bold
Predictions

from the experts

name

Live virtual entertainment will become a mainstay in a post-COVID world. From concerts to sporting events, creators will reach in-person fans, while engaging with worldwide audiences through video game-like streaming shows and virtual reality experiences. Entertainment will seamlessly blend with e-commerce for “in-game” purchases of real and virtual goods and actions, unlocking new revenue streams for producers and creators.

Priti Youssef Choksi

name

For high growth SaaS business, 2021 will likely usher in heightened sensitivity to unit economics and operating efficiency. The market will continue to pay a premium for growth, but become less sympathetic to cash flow profiles that require investors to peer too far into the future to see a positive ROI.

Rob Arditi

name

Cash will continue to flow to digital health companies as the rise of consumerism in healthcare, COVID-19, technology and other accelerants transform the industry. We are still in the early innings with few widely recognized consumer health brands creating a window for outsized returns for those that become the market leaders in both the direct-to-consumer and B2B channels.

Lisa Wu

name

2020 was the year of “at-home beauty” as consumers were forced to find alternative solutions to their hair color, skincare and nail care needs due to salon and spa closures. In 2021, we’ll continue to see consumers continue their at-home beauty routines while also investing in new products such as skincare devices as well as virtual services led by professionals.

Sonya Brown

name

WFH and the flexible workweek will become a permanent part of our lives, causing huge implications for IT and infosec. Enterprises will look to innovative companies to solve security challenges such as securing access and authorization to corporate data. Remote workers will buy an abundance of productivity and digital collaboration apps leading to a new category of “SaaS Ops” to help CIOs and CFOs manage their sprawling SaaS portfolios.

Rama Sekhar

We are thankful for our community of

innovative entrepreneurs, co-investors, business partners and staff

for another year to remember.

We wish you a safe, healthy and happy holiday season.