True Ventures

True Ventures is a venture capital firm based in Palo Alto, California, founded in 2005. The firm specializes in early-stage technology investments, focusing on seed and Series A funding for startups across various sectors, including consumer internet, software, hardware, health, and emerging technologies. True Ventures manages over $2.8 billion in capital and has supported more than 300 companies, contributing to the creation of over 25,000 jobs globally. The firm's investment strategy typically involves contributions ranging from $0.25 million to $3 million, aiming for ownership stakes between 20 and 25 percent. True Ventures is recognized for its commitment to fostering entrepreneurship and providing a supportive environment for founders, emphasizing personal and professional growth through its True Platform. The firm has achieved notable exits, including investments in companies that have been acquired by major corporations or gone public.

Dave Balter

Venture Partner

Phil Black

Co-Founder

Jon Callaghan

Managing Partner

Caroline Ciaramitaro

Associate

Gus Coldebella

Partner

Tony Conrad

Partner

Ann Crady Weiss

Venture Partner

Sahiti Enjeti

Analyst

Amy Errett

Partner

Ulrike Kellmereit

CFO

Om Malik

Partner

Fiona McCarthy

Principal

Michael Montano

Venture Partner

John O'Connell

Senior Associate

Natasha Sharma

Principal

Rohit Sharma

Partner

Jim Stewart

COO

James Stewart

COO and Partner

Priscilla Tyler

Vice President

Ann Weiss

Partner

Ariel Winton

Principal

Past deals in Internet of Things

Ditto

Seed Round in 2021
Developer of a software development kit and application designed to help apps sync with or without connectivity. The company's software development kit directly communicates with other devices, without the need for a server and automatically manages the complexity of using multiple network means of transport, like Bluetooth and wifi, to find and connect to other devices and then synchronize any changes, enabling developers to build applications that sync with each other with and even without internet connectivity.

Gridware

Seed Round in 2021
Gridware provides a grid monitoring system of sensors and software for the power distribution grid. The system centers around a low-cost hardware platform that is easily and permanently deployed to power poles. The platform detects and predicts faults that ignite wildfires, expedites repairs during a power outage, and helps utilities demonstrate risk reduction to regulators through comprehensive asset health profiles.

Thistle Technolgies

Seed Round in 2021
Thistle Technologies focuses on providing security solutions for connected device manufacturers, particularly in the Internet of Things (IoT) and embedded systems sectors. Founded by Window Snyder, a security expert with extensive experience at major tech firms, the company has developed a comprehensive security platform that equips manufacturers with essential tools and services to mitigate security risks. This platform enables development teams to implement verifiable security enhancements effectively and efficiently, ensuring that security architecture can be integrated into devices with ease. Thistle Technologies is supported by True Ventures.

Mode

Series A in 2020
Mode, Inc. is a technology company that offers a cloud-based platform designed to facilitate the development and operation of Internet of Things (IoT) products. Founded in 2014 and headquartered in San Mateo, California, with an additional office in Tokyo, Japan, Mode specializes in creating a scalable data infrastructure that allows businesses to collect and utilize real-world sensor data. Its innovative sensor gateway solution enables quick integration of sensors and equipment, funneling data into the cloud within days. This platform not only supports communication between devices and mobile clients but also provides tools for tracking and managing both devices and users. By effectively moving sensor data to the cloud and offering specialized time-series data storage, Mode delivers operational improvements and valuable insights for businesses seeking to enhance their operations.

Mode

Series A in 2018
Mode, Inc. is a technology company that offers a cloud-based platform designed to facilitate the development and operation of Internet of Things (IoT) products. Founded in 2014 and headquartered in San Mateo, California, with an additional office in Tokyo, Japan, Mode specializes in creating a scalable data infrastructure that allows businesses to collect and utilize real-world sensor data. Its innovative sensor gateway solution enables quick integration of sensors and equipment, funneling data into the cloud within days. This platform not only supports communication between devices and mobile clients but also provides tools for tracking and managing both devices and users. By effectively moving sensor data to the cloud and offering specialized time-series data storage, Mode delivers operational improvements and valuable insights for businesses seeking to enhance their operations.

Petasense

Seed Round in 2018
Petasense Inc., founded in 2014 and based in Foster City, California, is an Industrial IoT startup focused on enhancing the intelligence of industrial machines. The company provides an integrated solution that includes a wireless vibration sensor, cloud software, and machine learning analytics. This technology enables customers to monitor and predict the health of critical machinery in real-time, thereby reducing unplanned downtime and lowering repair costs. Notable clients include industry leaders such as JLL, C&W Services, Silicon Valley Power, and Stanford University. Petasense was established by entrepreneurs Abhinav Khushraj and Arun Santhebennur, who bring a combined 25 years of experience in enterprise development and hold degrees from prestigious institutions. The company receives backing from notable venture firms and angel investors.

Intentionet

Venture Round in 2017
Intentionet is a developer of management software that specializes in analyzing network configurations to identify and rectify errors. The company's software automates the testing of changes within both on-premises and cloud-based networks, proactively addressing potential issues that could lead to outages or security breaches. By providing clients with enhanced visibility into their network's security posture and connectivity, Intentionet facilitates rapid deployment and ongoing maintenance of network systems without the risk of service interruptions or compliance violations.

Brava Home

Series A in 2016
Brava Home is a technology company specializing in IoT and domestic automation, focusing on enhancing the home experience, particularly in the kitchen. By integrating science, technology, and design, Brava Home aims to empower individuals to prepare better food at home, thereby saving time and fostering joy in the cooking process. The company offers consumer electronics and hardware designed to streamline cooking and food preparation, reflecting its commitment to improving everyday culinary experiences. Brava Home is also dedicated to building a talented team that shares a passion for food and innovation.

Veniam

Series B in 2016
Veniam specializes in transforming vehicles into Wi-Fi hotspots, creating vehicular networks that enhance wireless coverage in urban areas. Founded in 2012 and headquartered in Mountain View, California, the company develops vehicular mesh networks that facilitate the secure management of data flows within an evolving mobility ecosystem. Veniam's solutions combine hardware, software, and cloud components to deliver services to intelligent transportation systems in cities like New York and Singapore, as well as in Porto, Portugal, where it operates the world’s largest connected vehicle network, including taxis, waste collection trucks, and public buses, providing free Wi-Fi to over 500,000 users. By leveraging these networks, Veniam aims to improve urban mobility and enhance the overall quality of life in cities.

LittleBits

Series B in 2015
LittleBits is an open source library of over 60 electronic modules that snap together with magnets allows users to view, download, and share designs and make their own Bits through the use of prototypes. Deluxe kit, Smart home kit, Arduino coding kit, Synth kit, hardware development kit, and workshop set are some of the electronics learning modules provided by littleBits. LittleBits was launched by Ayah Bdeir in 2011 and is operated from New York, United States.

Petasense

Seed Round in 2015
Petasense Inc., founded in 2014 and based in Foster City, California, is an Industrial IoT startup focused on enhancing the intelligence of industrial machines. The company provides an integrated solution that includes a wireless vibration sensor, cloud software, and machine learning analytics. This technology enables customers to monitor and predict the health of critical machinery in real-time, thereby reducing unplanned downtime and lowering repair costs. Notable clients include industry leaders such as JLL, C&W Services, Silicon Valley Power, and Stanford University. Petasense was established by entrepreneurs Abhinav Khushraj and Arun Santhebennur, who bring a combined 25 years of experience in enterprise development and hold degrees from prestigious institutions. The company receives backing from notable venture firms and angel investors.

Veniam

Series A in 2014
Veniam specializes in transforming vehicles into Wi-Fi hotspots, creating vehicular networks that enhance wireless coverage in urban areas. Founded in 2012 and headquartered in Mountain View, California, the company develops vehicular mesh networks that facilitate the secure management of data flows within an evolving mobility ecosystem. Veniam's solutions combine hardware, software, and cloud components to deliver services to intelligent transportation systems in cities like New York and Singapore, as well as in Porto, Portugal, where it operates the world’s largest connected vehicle network, including taxis, waste collection trucks, and public buses, providing free Wi-Fi to over 500,000 users. By leveraging these networks, Veniam aims to improve urban mobility and enhance the overall quality of life in cities.

Tessel Project

Seed Round in 2013
Technical Machine, Inc. is a company that develops and manufactures physical, Internet-enabled devices aimed at software developers. Founded in 2013 and based in Needham, Massachusetts, it offers products like Tessel, a programmable microcontroller equipped with a built-in WiFi chip and designed to be programmed in JavaScript. Tessel supports various modules, including accelerometers, Bluetooth, RFID, and audio, allowing users to create and test innovative devices. The company emphasizes an open platform that enables users to integrate and remix its solutions, facilitating the transition from prototype to manufacturing for the next generation of connected devices.

LittleBits

Series A in 2013
LittleBits is an open source library of over 60 electronic modules that snap together with magnets allows users to view, download, and share designs and make their own Bits through the use of prototypes. Deluxe kit, Smart home kit, Arduino coding kit, Synth kit, hardware development kit, and workshop set are some of the electronics learning modules provided by littleBits. LittleBits was launched by Ayah Bdeir in 2011 and is operated from New York, United States.

LittleBits

Series A in 2012
LittleBits is an open source library of over 60 electronic modules that snap together with magnets allows users to view, download, and share designs and make their own Bits through the use of prototypes. Deluxe kit, Smart home kit, Arduino coding kit, Synth kit, hardware development kit, and workshop set are some of the electronics learning modules provided by littleBits. LittleBits was launched by Ayah Bdeir in 2011 and is operated from New York, United States.
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