What do Chinese education startup Zuoyebang, interior design platform Houzz, and cloud computing platform MongoDB have in common? New Enterprise Associates.
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The second firm in our VC checkup series was founded in 1977, has global branches in China and India, and is the second most active VC firm founded before 2000 behind Sequoia Capital, according to Crunchbase. NEA invests in technology startups and healthcare, but its investment focus is agnostic in terms of stage and technology industry. The firm made early bets on notable companies like Mulesoft, Jet, Groupon, and Salesforce.
NEA has raised a total of $20 billion in capital across 16 funds since its founding. Like Sequoia, the size of its funds have reached new heights as individual funding rounds have become more gargantuan than ever before. The firm closed $3.3 billion for its largest and most recent fund, NEA 16 Fund, in June 2017.
But how has the firm put that $3.3 billion to use so far? Let’s take a look at the biggest NEA-led deals of 2018 to find out.
Robots, Health, And Taxes
At the top of the list is a $250 million Series A led by NEA along with Goldman Sachs for robotics process automation platform Automation Anywhere. The company develops robotic software that can automate data-heavy business practices and provide companies with insights into their operational efficiency. The round brought the company’s valuation up to $1.8 billion and the company said it was one of the largest Series A rounds for an enterprise software company.
Seven of the top 15 NEA-led deals thus far in 2018 were directed toward companies working in healthcare, medical devices, and biotech. Among those companies is Radiology Partners which dubs itself the largest on-site radiology practice in the U.S. The company brought in $234 million in the NEA-led funding round. Another, smaller health-focused company that scored a $50 million Series D led by NEA is CareZone. The consumer tech company offers an application to help individuals manage their medications and health information.
Outside of healthcare is Canopy, which raised a $30 million Series B in March. Canopy aims to displace outdated accounting practices. New Enterprise Associates invested in both its Seed and Series A rounds,.
With investments this year in companies ranging from robots to taxes across all stages, New Enterprise Associates is staying true to its agnostic mission. For now, here are the top 15 NEA-led deals of 2018:
Organization Name Funding Type Money Raised Announced Date
Automation Anywhere Series A 250M July 2018
Radiology Partners Venture - Series Unknown 234M March 2018
Collective Health Series D 11M February 2018
Personal Genome Diagnostics Series B 75M January 2018
Centrexion Series D 67M January 2018
Metavention Series C 65M January 2018
Senti Biosciences Series A 53M February 2018
Goop Series C 50M March 2018
CareZone Series D 50M May 2018
Reltio Series D 45M May 2018
Luminary Media Venture - Series Unknown 40M May 2018
XSKY Data Technology Series C 37.8M April 2018
Aetion Series B 36.4M April 2018
Canopy Series B 30M March 2018
Xoc Pharmaceuticals Series A 30M February 2018
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