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The Ridget Spinner: Summer 2022 ☀️

Cool off with our easy, breezy Q2 recap

A glass of lemonade is nice, but nothing beats the heat like our freshly squeezed Summer Ridget Spinner.

It’s a challenging time for startups, but our companies and founders made the most of Q2. The Ridge investment team followed suit: we expanded our enterprise portfolio and added an incredible new Partner.

Scroll down for a scintillating summation of what we’ve been up to these past few months.

Partner Up!

In May, we added Partner Akriti Dokania to The Ridge Familia. Previously a VC at Octopus Ventures, Akriti is an ex-founder whose background also spans product management and software engineering at companies like Microsoft and AWS.

Akriti’s greatest hits include investments in LifeScore (backed by Warner Music Group), vHive, and ThoughtRiver. She also helped exit companies such as UltraSoC (acquired by Siemens) and BehavioSec (acquired by LexisNexis).

Read more about Akriti here, and in the official press release.

Portfolio Fireworks: Arya Not Entertained?

Despite the industry-wide slowdown, we committed to three new investments last quarter. Arya, an agile compensation startup, is the first to be announced.

We’re thrilled to support Arya’s seed round as founder Kunal Sarda and team rewrite the playbook on how we value and reward people for work.

Elsewhere, Asimily’s vital signs are looking strong after a healthy round of follow-on funding. We led its previous round to help safeguard healthcare providers and devices from ransomware.

Cerby recently emerged from stealth, launching its platform that enhances security for unmanageable apps that comprise 86% of cloud-based services in the average enterprise.

An acquisition, you say? That’s right. Congrats to Tempered co-founders Keith Beeman and Jeff Hussey on their successful sale to Johnson Controls. A nice win for the industry’s only native zero-trust platform.

Gold Stars & Blue Ribbons

Just like the Warriors, our SaaSational companies are busy restocking their trophy cases.

Sama (Data Annotation) and SafeGraph (Location Data) both landed on the CB Insights AI 100 list. Meanwhile, Fast Company’s World Changing Ideas recognized Bolt, Deduce, and Near Space Labs as honorable mentions.

Out in container land, Rafay was named one of this year’s 10 hottest Kubernetes startups. Rafay also earned a Digital Innovator Award from Intellyx, and recently announced MoneyGram as a customer.

Follow the Thought Leader

Gas prices keep climbing, but our investment team and founders continue to dish out free knowledge by the gallon.

Ridge Partner Yousuf Khan penned a TechCrunch article on board meeting best practices, with another piece coming soon. More early-stage wisdom can be found on his Vest Side Stories blog.

Within our portfolio, Ontic’s Marisa Randazzo discussed threat assessment and prevention with PBS News hour and Bloomberg BusinessWeek. Zipline CEO Melissa Wong, for Forbes, dispelled five myths about the “death” of retail.

Everybody Get Together

Sure, we’re oenophiles, but we prefer a solid enterprise partnership over a wine-and-cheese pairing.

To wit: Loop and Happy Returns (PayPal) joining forces. Loop’s merchants can now offer customers box-free, label-free returns at 5K+ locations across the US.

Fastly acquired popular developer platform Glitch. The acquisition “[brings] together two of the world’s best ecosystems for application development into a single, seamless developer experience.” We can toast to that!

Cliff Notes

⛰️ Buy now, fly later: UpLift’s BNPL app was featured in CNET and Thrillist

⛰️⛰️ Ketch is providing IMAX with scalable, automated data compliance

⛰️⛰️⛰️ Deduce’s Ari Jacoby was named an influential business leader in cybersecurity

(Heat) Waving Goodbye

Thanks for stopping by!

We hope the dog days of summer aren’t too ruff. And, as always, don’t forget to wear sunscreen.

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Ridge Ventures

Ridge Ventures

Fast, flexible & founder-focused early stage venture capital fund. Backing experienced founders redefining how the world interacts with data and code.