USA – Heavybit, a San Francisco, CA-based investor in developer-first startups, closed Heavybit Holdings IV, L.P., at $80m.
Over 40 founders and early executives central to the DevOps, CI/CD, Jamstack, and serverless software movements personally invested in the fund, a move that speaks to the firm’s success with technical teams.Among others, they include Guy Podjarny, serial entrepreneur and founder of developer security platform and Heavybit alum Snyk, Simon Wistow, co-founder of edge cloud platform Fastly, Edith Harbaugh, LaunchDarkly co-founder and CEO, Sumo Logic co-founder and CTO Christian Beedgen, and Datadog co-founder and CTO Alexis Lê-Quôc.The latest fund will invest in startups that are redefining how teams build, deploy, secure, and scale mission-critical software. The fund will primarily lead Pre-Seed and Seed rounds with typical check size ranges from $500,000 to $3 million depending on company stage and valuation. As part of the investment, the firm’s 141 globally distributed portfolio company founders receive weekly support from Partners, staff, and 650+ domain-specific advisors. To date, Heavybit Holdings IV, L.P. has invested in 10 early-stage companies.Led by Tom Drummond, Managing Partner, Heavybit has doubled its team to expand portfolio support including adding Chef cofounder and DevOps pioneer Jesse Robbins as General Partner, LaunchDarkly’s former Director of Corporate Marketing Andrea Echstenkamper as VP Marketing, and VC Finance veteran Susie Singh as Director of Finance.Since launching in 2013, Heavybit has specialized in scaling early-stage developer and software infrastructure companies. The firm has invested in teams in 35 cities across 15 countries, and its community has grown to over 40,000 members. Portfolio companies have raised approximately $4 billion in aggregate financing with the portfolio collectively valued at over $30 billion.06/09/2022
