PeakSpan Capital simply closed on $265 million extra to fund enterprise software program firms

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PeakSpan Capital, a four-year-old, Burlingame, Calif.-based enterprise agency, has closed its second fund with $265 million in capital commitments, in line with a brand new SEC submitting that reveals that 68 traders have been concerned within the fundraise.

That’s a significant soar in measurement from the agency’s $150 million debut fund, which it closed in 2016.

PeakSpan was co-founded by Phil Dur, Brian Mulvey, and Matt Melymuka, longtime traders who’d labored collectively beforehand for an outfit that’s now not round (Investor Progress Capital).

Their agency makes a speciality of growth-stage enterprise software program firms.

PeakSpan had funded 11 startups with its first fund. Amongst its most up-to-date bets is Cordial, a four-year-old, San Diego-based e mail platform that raised $15 million in Collection B funding final summer season led by PeakSpan; Inference, an eight-year-old, San Francisco-based firm whose AI-driven self-service purposes goal to interchange human service and help brokers (it has by no means introduced its exterior funding); and BookingBug, a 10-year-old, London-based buyer engagement platform that raised $13.four million in Collection C funding final April, led by PeakSpan.

In line with a brand new report printed earlier this week by PwC and CB Insights, enterprise software program stays among the many largest areas of curiosity for VCs. In line with the companies’ findings, 111 software program offers (not regarding the web or cell) raised $three billion from traders within the fourth quarter of final 12 months, in contrast with 51 shopper services offers that attracted a collective $382 million.


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