# Illuminate Ventures: portfolio, investments and team

> Illuminate Ventures is a vc firm based in United States. 38 investments on record, latest Oct 2019. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/illuminate-ventures (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Illuminate Ventures

Filed with the SEC to raise a fund in Aug 2024, closing $21M. Last cheque observed Oct 2019.

Email

Quiet New fund $21M, Aug 2024 VC firm

Seed Series A Enterprise Computer Vision SaaS

Follow Illuminate Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Filluminate-ventures)

Cheques on record

**0%** of best year **0** **cheques in 12 months**, 38 on record

Since the last cheque **2580** days **00** hrs **00** min **00** sec

Median round **$7.2M** Cheque size, as they say **$1.0M – $1.5M** Rounds led **2 of 38** Sole investor **3 rounds** Exits **4 from the portfolio** Mostly in **United States, 84%**

Pitch Illuminate Ventures

## Illuminate Ventures highlights

- 01 38 rounds on record
- 02 Mostly Series A and Seed: 65% of its rounds
- 03 Sole investor in 3 rounds, median $11M
- 04 4 exits from the portfolio

## What they do

> Illuminate Ventures leads Series Seed investments, bringing resources to bear that are designed to help transform startups into market leaders. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $1.0M – $1.5M as they say
- **Stages:** Seed Series A
- **Sectors:** Enterprise Computer Vision SaaS
- **Based in:** Piedmont, United States
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **38 appearances**

- **2019** 4 rounds
- **Oct** **[Contentstack](https://millionrounds.com/company/contentstack)** Series A · US · FinSMEs **$32M** With 2 others
- **Jul** **[Pyze](https://millionrounds.com/company/pyze)** US · YourStory **$4.6M** *Led*
- **May** **[JetStream](https://millionrounds.com/company/jetstream)** Series A · US · FinSMEs **$7.7M** With 2 others
- **Mar** **[Bid Ops](https://millionrounds.com/company/bid-ops)** Seed · US · FinSMEs **$1.8M** *Led*
- **2018** 2 rounds
- **Jun** **[Bedrock Analytics](https://millionrounds.com/company/bedrock-analytics)** US · FinSMEs **$7.2M** With 1 other
- **Apr** **[CloudMargin](https://millionrounds.com/company/cloudmargin)** GB · FinSMEs **$10M** With 3 others
- **2017** 1 round
- **Sept** **[dv01](https://millionrounds.com/company/dv01)** Series A · US · FinSMEs **$5.5M** With 4 others
- **2015** 5 rounds
- **Dec** **[Allocadia](https://millionrounds.com/company/allocadia)** Series B **$17M** With 7 others
- **Jul** **[Yozio](https://millionrounds.com/company/yozio)** Series A · US **$7.0M** With 5 others
- **Jul** **[Bedrock Analytics](https://millionrounds.com/company/bedrock-analytics)** Seed · US **Undisclosed** With 1 other
- **May** **[Bedrock Analytics](https://millionrounds.com/company/bedrock-analytics)** US **Undisclosed** Sole investor
- **Mar** **[CafeX Communications](https://millionrounds.com/company/cafex-communications)** Series B · US **$21M** With 2 others
- **2014** 10 rounds
- **Dec** **[Coupang](https://millionrounds.com/company/coupang)** Growth · KR **$300M** With 4 others
- **Dec** **[Xactly Corp](https://millionrounds.com/company/xactly-corp)** Series F · US **$12M** With 1 other
- **Oct** **[Sense Platform](https://millionrounds.com/company/sense-platform)** Seed · US **$1.1M** With 2 others
- **Jul** **[Peerlyst](https://millionrounds.com/company/peerlyst)** Seed · US **$3.0M** With 3 others
- **Jun** **[Allocadia](https://millionrounds.com/company/allocadia)** Series A · CA **$6.4M** With 2 others
- **May** **[Coupang](https://millionrounds.com/company/coupang)** Venture · KR **$100M** With 7 others
- **May** **[CafeX Communications](https://millionrounds.com/company/cafex-communications)** Series A · US **$11M** Sole investor
- **Apr** **[ChannelEyes](https://millionrounds.com/company/channeleyes)** Seed · US **Undisclosed** With 1 other
- **Mar** **[Peerlyst](https://millionrounds.com/company/peerlyst)** US **Undisclosed** Sole investor
- **Feb** **[Hoopla](https://millionrounds.com/company/hoopla)** Series B · US **$8.0M** With 2 others
- **2013** 2 rounds
- **Jun** **[Opsmatic](https://millionrounds.com/company/opsmatic)** Seed · US **$3.0M** With 8 others
- **Jun** **[BrightEdge](https://millionrounds.com/company/brightedge)** Series D · US · techcrunch.com **$43M** With 4 others
- **2012** 5 rounds
- **Dec** **[Influitive](https://millionrounds.com/company/influitive)** Series A · CA · techcrunch.com **$7.3M** With 8 others
- **Sept** **[Yozio](https://millionrounds.com/company/yozio)** Seed · US **Undisclosed** With 4 others
- **Aug** **[Influitive](https://millionrounds.com/company/influitive)** Seed · CA · altassets.net **$3.8M** With 10 others
- **Jun** **[Hoopla](https://millionrounds.com/company/hoopla)** Series A · US · benzinga.com **$2.8M** With 2 others
- **Mar** **[BrightEdge](https://millionrounds.com/company/brightedge)** Series C · US · techcrunch.com **$13M** With 3 others
- **2011** 1 round
- **Jan** **[CalmSea](https://millionrounds.com/company/calmsea)** US **Undisclosed** With 1 other
- **2010** 2 rounds
- **Jul** **[Xactly Corp](https://millionrounds.com/company/xactly-corp)** Series E · US · deals.venturebeat.com **$7.5M** With 5 others
- **Mar** **[BrightEdge](https://millionrounds.com/company/brightedge)** Series B · US · deals.venturebeat.com **$6.5M** With 2 others
- **2009** 2 rounds
- **Jul** **[Red Aril](https://millionrounds.com/company/red-aril)** US · redaril.com **Undisclosed** With 2 others
- **May** **[Wild Pockets](https://millionrounds.com/company/wild-pockets)** US · wildpockets.com **Undisclosed** With 1 other
- **2008** 2 rounds
- **Aug** **[BrightEdge](https://millionrounds.com/company/brightedge)** Series A · US **Undisclosed** With 1 other
- **Apr** **[Xactly Corp](https://millionrounds.com/company/xactly-corp)** Series D · US · venturebeat.com **$30M** With 6 others
- **2007** 1 round
- **Apr** **[Xactly Corp](https://millionrounds.com/company/xactly-corp)** Series C · US · venturebeat.com **$15M** With 5 others
- **2006** 1 round
- **Mar** **[Xactly Corp](https://millionrounds.com/company/xactly-corp)** Series B · US · xactlycorp.com **$8.0M** With 4 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **2 named**

CB **Cynthia Beth Padnos** Managing Member of the General Partner i Filing they signed

JS **Jennifer Savage** Managing Member of the General Partner i Filing they signed

We also hold **4** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$102M** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Illuminate Management, L.L.C.
- **SEC number:** CRD 160469

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 1 we have independently watched raise

Sydney

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **4 in all**

**[Opsmatic](https://millionrounds.com/company/opsmatic)** Bought by New Relic **Undisclosed** Nov 2015

**[CalmSea](https://millionrounds.com/company/calmsea)** Bought by Coupang **Undisclosed** May 2014

**[Red Aril](https://millionrounds.com/company/red-aril)** Bought by iCrossing **Undisclosed** Dec 2011

**[Wild Pockets](https://millionrounds.com/company/wild-pockets)** Bought by [Autodesk](https://millionrounds.com/fund/autodesk) **Undisclosed** Dec 2010

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$21M**

raised in Aug 2024

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A

Median round joined **$7.2M** the round, not its cheque Alone, median **$11M**

Led 2 of 38 rounds **5%**

- **Said size:** $1.0M – $1.5M
- **Sole investor:** 3 rounds
- **Last cheque:** Oct 2019
- **Exits:** 4 from the portfolio

Rounds by stage said on their site

- Series A said *9*
- Seed said *8*
- Series B *5*
- Series D *2*
- Series C *2*

Cheques by year Led Joined

2006 2019

Often in the room with

- [Altos Ventures](https://millionrounds.com/fund/altos-ventures) 7
- [Bay Partners](https://millionrounds.com/fund/bay-partners) 4
- [Luminate](https://millionrounds.com/fund/luminate-accelerator) 4
- [Rembrandt Venture Partners](https://millionrounds.com/fund/rembrandt-venture-partners) 4
- [Alloy Ventures](https://millionrounds.com/fund/alloy-ventures) 3
- [Battery Ventures](https://millionrounds.com/fund/battery-ventures) 3

**Pitching Illuminate Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

Add to your CRM *→*

## Who they invest alongside

The investors most often in the same rounds as Illuminate Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**Altos Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/altos-ventures)[**Bay Partners** VC firm **4** rounds together](https://millionrounds.com/fund/bay-partners)[**Luminate** Accelerator **4** rounds together](https://millionrounds.com/fund/luminate-accelerator)[**Rembrandt Venture Partners** VC firm **4** rounds together](https://millionrounds.com/fund/rembrandt-venture-partners)[**Alloy Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/alloy-ventures)[**Battery Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/battery-ventures)[**Cervin Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/cervin-ventures)[**Intel Capital** Corporate VC **3** rounds together](https://millionrounds.com/fund/intel-capital)[**Outlook Ventures** Growth equity **3** rounds together](https://millionrounds.com/fund/outlook-ventures)[**AME Cloud Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/ame-cloud-ventures)[**Common Angels** VC firm **2** rounds together](https://millionrounds.com/fund/common-angels)[**Correlation Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/correlation-ventures)

## Recently backed

The latest companies Illuminate Ventures put money into.

[**Contentstack** $32M · Oct 2019](https://millionrounds.com/company/contentstack)[**Pyze** $4.6M · Jul 2019](https://millionrounds.com/company/pyze)[**JetStream** $7.7M · May 2019](https://millionrounds.com/company/jetstream)[**Bedrock Analytics** $7.2M · Jun 2018](https://millionrounds.com/company/bedrock-analytics)[**CloudMargin** $10M · Apr 2018](https://millionrounds.com/company/cloudmargin)[**dv01** $5.5M · Sept 2017](https://millionrounds.com/company/dv01)

## On podcasts

1 episode naming Illuminate Ventures in the title.

- [The Official SaaStr Podcast](https://millionrounds.com/podcasts/saastr) 15 Jul 2016 · 30 min SaaStr 039: The Unwavering Power of Predictable Revenue and Why We Will See Further Consolidation in SaaS with Cindy Padnos, Founder and Managing Partner @ Illuminate Ventures With [Cindy Padnos](https://millionrounds.com/person/cindy-padnos) Mentions [Illuminate Ventures](https://millionrounds.com/fund/illuminate-ventures)[Outlook Ventures](https://millionrounds.com/fund/outlook-ventures) Apple PodcastsShow page

## Quick answers about Illuminate Ventures

### What does Illuminate Ventures invest in?

Illuminate Ventures invests most often at Series A and Seed (65% of the rounds on record), in sectors such as Enterprise, Computer Vision and SaaS.

### How active is Illuminate Ventures?

38 investments on record, 0 of them in the last 12 months, and it led 2. The most recent was in Oct 2019.

### What has Illuminate Ventures invested in recently?

Its most recent investments on record: Contentstack (Series A, Oct 2019), Pyze (Undisclosed round, Jul 2019) and JetStream (Series A, May 2019).

### How big are Illuminate Ventures's cheques?

The median round it joins is $7.2M. It says it writes cheques of $1.0M to $1.5M.

### Does Illuminate Ventures lead rounds?

Sometimes: it led 2 of its 38 investments on record (5%).

### Where does Illuminate Ventures invest?

Most of the companies it backs are in the United States (84%), Canada (8%) and South Korea (5%).

### Is Illuminate Ventures investing now?

No investments in the last 12 months; the latest was in Oct 2019.

### Who does Illuminate Ventures invest alongside?

Most often Altos Ventures (7 rounds together), Bay Partners (4 rounds together) and Luminate (4 rounds together).

## Raising now?

Find the investors who back rounds like yours, and keep every conversation on one fundraising board.

Find similar investorsOpen your CRM

Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=illuminate-ventures) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=illuminate-ventures)