SAN FRANCISCO — Zetta Venture Partners – a venture capital fund focused on intelligent enterprise software – announced it has closed its second fund of $100 million, bringing total assets under management to $160 million.
Zetta said it plans to partner with 20 more software companies with this second fund.
“Information technology is shifting from the workflow applications of the cloud computing era to those that help customers make decisions,” said Ash Fontana, Managing Director at Zetta. “The source of competitive advantage is no longer just code; it’s about proprietary data plus self-learning code.”
Zetta Venture Partners was formed in 2013 and has invested in 16 early stage companies, typically as the first institutional investor. Current Zetta portfolio companies include Appdiff, Clearbit, Domo, Domino Data Lab, EventBoard, Focal Systems, InsideSales, Kaggle, Lilt, Lucid Design Group and Tractable.
Domo and InsideSales.com are both in the 2016 Forbes Cloud 100. Bebop was a company acquired by Google in 2015. All Zetta companies earned over $1 million of annualized revenue within one year of being funded.