# JMI Equity: portfolio, investments and team

> JMI Equity is a private equity based in United States. 116 investments on record, 6 in the last 12 months, latest Sept 2026.

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

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

# JMI Equity

Last cheque observed Sep 2026; 116 cheques on record.

Email

Deploying now New fund $2.9B, Aug 2025 Private equity

Seed Series A Series B Subscription Software SaaS

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

Deploying now

**50%** of best year **6** **cheques in 12 months**, 116 on record

Since the last cheque **50** days **00** hrs **00** min **00** sec

Median round **$50M** Rounds led **7 of 116** Sole investor **24 rounds** Exits **19 from the portfolio** Mostly in **United States, 79%**

Pitch JMI Equity

## JMI Equity highlights

- 01 6 cheques in the last 12 months
- 02 Mostly Venture and Series B: 44% of its rounds
- 03 Sole investor in 24 rounds, median $40M
- 04 19 exits from the portfolio

## What they do

> Filed 1 private fund offering with the SEC, the most recent in 2022-12 From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Subscription Software SaaS
- **Based in:** Washington, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **116 appearances**

- **2026** 5 rounds
- **Sept** **[Archy](https://millionrounds.com/company/archy)** Series C · US · JMI Equity **$50M** *Led*
- **Jun** **[SewerAI](https://millionrounds.com/company/sewerai)** Growth · US · Suffolk Technologies **Undisclosed** *Led*
- **May** **[gaiia](https://millionrounds.com/company/gaiia)** Series B · Ventureburn **$40M** *Led*
- **May** **[TimelyCare](https://millionrounds.com/company/timelycare)** Venture · US **$2.7M** Sole investor
- **Apr** **[Vena Solutions](https://millionrounds.com/company/vena-solutions)** Venture · CA **Undisclosed** With 3 others
- **2025** 11 rounds
- **Nov** **[Clio](https://millionrounds.com/company/clio)** Growth · CA · TechStartups **$500M** With 6 others
- **Oct** **[Vantaca](https://millionrounds.com/company/vantaca)** Growth · US **$300M** Sole investor
- **Sept** **[CompanyCam](https://millionrounds.com/company/companycam)** US · Firms' own news pages **Undisclosed** With 4 others
- **Sept** **[EdSights](https://millionrounds.com/company/edsights)** Growth · US **$80M** With 3 others
- **Aug** **[First Due](https://millionrounds.com/company/first-due)** Growth · US · Crunchbase News **$355M** *Led*
- **Aug** **[CompanyCam](https://millionrounds.com/company/companycam)** Venture · US **Undisclosed** With 3 others
- **Aug** **[Ontic](https://millionrounds.com/company/ontic)** Series C · US **$230M** With 6 others
- **Jul** **[Boulevard](https://millionrounds.com/company/boulevard)** Series D · US · Crunchbase News **$80M** *Led*
- **May** **[Jane Software](https://millionrounds.com/company/jane-software)** Venture · CA **Undisclosed** With 2 others
- **May** **[Swiftly](https://millionrounds.com/company/swiftly)** Venture · SE **Undisclosed** With 3 others
- **Jan** **[ButterflyMX](https://millionrounds.com/company/butterflymx)** Venture · US **Undisclosed** With 2 others
- **2024** 5 rounds
- **Oct** **[DoorLoop](https://millionrounds.com/company/doorloop)** Series B · US **$100M** Sole investor
- **Jul** **[Fullbay](https://millionrounds.com/company/fullbay)** Venture · US **Undisclosed** Sole investor
- **Jun** **[Huntress](https://millionrounds.com/company/huntress)** Series D · US **$150M** With 4 others
- **Jun** **[Seismic](https://millionrounds.com/company/seismic)** Venture · US **Undisclosed** With 2 others
- **Feb** **[Bloomerang CRM](https://millionrounds.com/company/bloomerang-crm)** Venture · US **Undisclosed** With 2 others
- **2023** 3 rounds
- **Aug** **[Ignition](https://millionrounds.com/company/ignition)** Debt · AU **$15M** With 4 others
- **Mar** **[Coursedog](https://millionrounds.com/company/coursedog)** Venture · US **Undisclosed** With 3 others
- **Mar** **[SOCi](https://millionrounds.com/company/soci)** Venture · US **$120M** With 1 other
- **2022** 2 rounds
- **Jun** **[Whistic](https://millionrounds.com/company/whistic)** Series B · US **$35M** With 4 others
- **Mar** **[Vence](https://millionrounds.com/company/vence)** Venture · US **Undisclosed** With 5 others
- **2021** 8 rounds
- **Dec** **[ServiceTrade](https://millionrounds.com/company/servicetrade)** Growth · US **$85M** Sole investor
- **Oct** **[SafetyChain Software](https://millionrounds.com/company/safetychain-software)** Growth · US **$50M** Sole investor
- **Sept** **[RainFocus](https://millionrounds.com/company/rainfocus)** Venture · US **Undisclosed** Sole investor
- **Jul** **[OpenSesame](https://millionrounds.com/company/opensesame)** Series D · US **$50M** With 3 others
- **Jun** **[Greenlight Guru](https://millionrounds.com/company/greenlight-guru)** Growth **$120M** Sole investor
- **May** **[Axonify](https://millionrounds.com/company/axonify)** Debt **$30K** With 2 others
- **Mar** **[Cureatr](https://millionrounds.com/company/cureatr)** Venture **$11M** With 2 others
- **Jan** **[TimelyCare](https://millionrounds.com/company/timelycare)** Series B · US **$60M** Sole investor
- **2020** 2 rounds
- **Jul** **[CampusLogic](https://millionrounds.com/company/campuslogic)** Growth **$120M** With 3 others
- **Apr** **[AlertMedia](https://millionrounds.com/company/alertmedia)** Series C **$15M** With 3 others
- **2019** 5 rounds
- **Oct** **[Benevity](https://millionrounds.com/company/benevity)** Series C · CA · Globenewswire **$40M** With 1 other
- **Sept** **[Clio](https://millionrounds.com/company/clio)** Series D · CA · FinSMEs **$250M** With 1 other
- **Feb** **[Lytic](https://millionrounds.com/company/lytic)** Series C · US · FinSMEs **$35M** With 5 others
- **Jan** **[RainFocus](https://millionrounds.com/company/rainfocus)** US · FinSMEs **$40M** Sole investor

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 **20 named**

BJ **Biswajit J. Sinha** Managing member i Filing they signed

BJ **Brian J. Hersman** Managing Member of the Managing Member i Filing they signed

CT **Charles T. Dieveney** Managing member i Filing they signed

CT **Chase Thomet** Managing member i Filing they signed

DM **David M Greenberg** Managing Member of the Managing Member i Filing they signed

DW **David Williams** Managing member i Filing they signed

HS **Harry Siegfried Gruner** Managing Member of the Managing Member i Filing they signed

KR **Kathy R. Fields** Managing member i Filing they signed

LV **Larry V Contrella** Managing Member of the Managing Member i Filing they signed

LM **Lindsay Mccrory Monti** Chief Compliance Officer, General Counsel i Form ADV

MS **Maggie Schmitt** Managing member i Filing they signed

MR **Matthew R. Emery** Managing Member of the Managing Member i Filing they signed

MT **Megan Taylor Schmitt** Partner, Chief Financial Officer i Form ADV

PV **Paul V. Barber** Managing Member of the Managing Member i Filing they signed

PC **Peter Chartrand Arrowsmith** Managing General Partner, Vice President i Form ADV

RE **Randy E Guttman** General Partner, Chief Operating Officer i Form ADV

RF **Robert F. Smith** Managing member i Filing they signed

RP **Robert P. Nye IV** Managing Member of the Managing Member i Filing they signed

SP **Suken P. Vakil** Managing Member of the Managing Member i Filing they signed

SP **Sureel P Sheth** Managing Member of the Managing Member i Filing they signed

We also hold **41** 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

**$14B** assets it manages Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** JMI Management, L.P.
- **SEC number:** CRD 158344

Funds on its Form ADV

**16** private funds, **$8.7B** in gross assets · filed Mar 2024

Private equity **14** Venture **2**

- JMI Equity Fund XI-A, L.P. *Private equity* 180 investors $1.4B
- JMI Equity Fund X-A,l.p. *Private equity* 147 investors $1.3B
- JMI Equity Fund IX-A, L.P. *Private equity* 98 investors $1.2B
- JMI Equity Fund XI-B, L.P. *Private equity* 147 investors $1.1B
- JMI Equity Fund X-B, L.P. *Private equity* 79 investors $779M
- JMI Extended Value Fund, L.P. *Private equity* 96 investors $771M
- JMI Equity Fund VIII-A, L.P. *Private equity* 100 investors $640M
- JMI Equity Fund IX-B, L.P. *Private equity* 50 investors $552M
- JMI TIME Aggregator, L.P. *Private equity* 28 investors $273M
- JMI Disrupt Aggregator, L.P. *Private equity* 7 investors $218M

And 6 more on the filing.

Who backs their funds

## 1 LP on record in JMI Equity's funds

- **Committed:** $665M
- **Funds:** 5
- **Vintages:** 2011 to 2023

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Jun 2025.

- [**California State Teachers Retirement System** 5 funds *$665M*](https://millionrounds.com/fund/california-state-teachers-retirement-system) Fund Vintage Committed JMI Equity Fund XI A 2023 $225M JMI Equity Fund X A 2021 $170M JMI Equity Fund IX-A 2019 $120M JMI Equity Fund VIII 2015 $100M JMI Equity Fund VII 2011 $50M

## Exits from the portfolio

Companies it backed that were later bought or listed **19 in all**

**[Workfront](https://millionrounds.com/company/workfront)** Bought by [Adobe](https://millionrounds.com/fund/adobe) **$1.5B** Nov 2020

**[Undertone](https://millionrounds.com/company/undertone)** Bought by Perion **$180M** Dec 2015

**[Capsule Tech](https://millionrounds.com/company/capsule-tech)** Bought by [Qualcomm Incorporated](https://millionrounds.com/fund/qualcomm-incorporated) **Undisclosed** Sept 2015

**[Studer Group](https://millionrounds.com/company/studer-group)** Bought by Huron Consulting Group **$325M** Jan 2015

**[AirClic](https://millionrounds.com/company/airclic)** Bought by [Descartes Systems Group](https://millionrounds.com/fund/descartes-systems-group) **$30M** Nov 2014

**[Axeda](https://millionrounds.com/company/axeda)** Bought by [Parametric Technology (PTC)](https://millionrounds.com/fund/parametric-technology-ptc) **$170M** Jul 2014

**[Harmony Information Systems](https://millionrounds.com/company/harmony-information-systems)** Bought by Mediware Information Systems **Undisclosed** Jun 2014

**[Autotask](https://millionrounds.com/company/autotask)** Bought by [Vista Equity Partners](https://millionrounds.com/fund/vista-equity-partners) **Undisclosed** Jun 2014

**[ClickSquared](https://millionrounds.com/company/clicksquared)** Bought by Zeta Interactive **Undisclosed** Jan 2014

**[BigMachines](https://millionrounds.com/company/bigmachines)** Bought by [Oracle Corporation](https://millionrounds.com/fund/oracle) **$400M** Oct 2013

**[Eloqua](https://millionrounds.com/company/eloqua)** Bought by [Oracle Corporation](https://millionrounds.com/fund/oracle) **$871M** Dec 2012

**[iContact](https://millionrounds.com/company/icontact)** Bought by Vocus **$169M** Feb 2012

**[Aptela](https://millionrounds.com/company/aptela)** Bought by Vocalocity **Undisclosed** Aug 2011

**[Unica](https://millionrounds.com/company/unica)** Bought by [IBM (International Business Machines)](https://millionrounds.com/fund/ibm-international-business-machines) **$480M** Oct 2010

**[Intellitactics](https://millionrounds.com/company/intellitactics)** Bought by Trustwave Holdings **Undisclosed** Mar 2010

**[Applimation](https://millionrounds.com/company/applimation)** Bought by [Informatica](https://millionrounds.com/fund/informatica) **$40M** Feb 2009

**[Managed Objects](https://millionrounds.com/company/managed-objects)** Bought by [Novell](https://millionrounds.com/fund/novell) **$45M** Oct 2008

**[Dirig Software](https://millionrounds.com/company/dirig-software)** Bought by [ASG](https://millionrounds.com/fund/asg-2) **Undisclosed** Feb 2004

**[Astrum Software](https://millionrounds.com/company/astrum-software)** Bought by [EMC](https://millionrounds.com/fund/emc) **Undisclosed** Apr 2003

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

New fund on file

**$2.9B**

raised in Aug 2025

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

## The cheque

Seed Series A Series B

Median round joined **$50M** the round, not its cheque Alone, median **$40M**

Led 7 of 116 rounds **6%**

- **Sole investor:** 24 rounds
- **Last cheque:** Sept 2026
- **Exits:** 19 from the portfolio

Rounds by stage said on their site

- Venture *24*
- Series B said *19*
- Series C *18*
- Growth said *12*
- Series A said *12*
- Series D *12*
- Seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Insight Partners](https://millionrounds.com/fund/insight-venture-partners) 6
- [Menlo Ventures](https://millionrounds.com/fund/menlo-ventures) 6
- [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) 5
- [Bain Capital Ventures](https://millionrounds.com/fund/bain-capital-ventures) 5
- [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) 5
- [TCV](https://millionrounds.com/fund/tcv) 5

**Pitching JMI Equity?** 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 JMI Equity. A count of rooms they were both in, not a relationship either has claimed.

[**Insight Partners** VC firm **6** rounds together](https://millionrounds.com/fund/insight-venture-partners)[**Menlo Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/menlo-ventures)[**BDC Capital** VC firm **5** rounds together](https://millionrounds.com/fund/bdc-venture-capital)[**Bain Capital Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/bain-capital-ventures)[**Bessemer Venture Partners** VC firm **5** rounds together](https://millionrounds.com/fund/bessemer-venture-partners)[**TCV** Private equity **5** rounds together](https://millionrounds.com/fund/tcv)[**CIBC** VC firm **4** rounds together](https://millionrounds.com/fund/cibc)[**Egan-Managed Capital** Growth equity **4** rounds together](https://millionrounds.com/fund/egan-managed-capital)[**Integral Capital Partners** Growth equity **4** rounds together](https://millionrounds.com/fund/integral-capital-partners)[**ABS Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/abs-ventures)[**Album VC** VC firm **3** rounds together](https://millionrounds.com/fund/album)[**FTV Capital** Private equity **3** rounds together](https://millionrounds.com/fund/ftv-capital)

## Recently backed

The latest companies JMI Equity put money into.

[**Archy** $50M · Sept 2026](https://millionrounds.com/company/archy)[**SewerAI** Jun 2026](https://millionrounds.com/company/sewerai)[**gaiia** $40M · May 2026](https://millionrounds.com/company/gaiia)[**TimelyCare** $2.7M · May 2026](https://millionrounds.com/company/timelycare)[**Vena Solutions** Apr 2026](https://millionrounds.com/company/vena-solutions)[**Clio** $500M · Nov 2025](https://millionrounds.com/company/clio)

## On podcasts

3 episodes naming JMI Equity in the title, and 1 more that mention it.

- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 11 Dec 2024 · 20 min Excellence in Software Investing: JMI Equity’s Larry Contrella With [Larry Contrella](https://millionrounds.com/person/larry-contrella) Mentions [JMI Equity](https://millionrounds.com/fund/jmi-equity) Apple PodcastsShow page
- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 15 Feb 2021 · 22 min Excellence in Software Investing: JMI Equity's Peter Arrowsmith With [Peter Arrowsmith](https://millionrounds.com/person/peter-arrowsmith) Mentions [JMI Equity](https://millionrounds.com/fund/jmi-equity) Apple PodcastsShow page
- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 1 May 2020 · 22 min Software Growth Equity Leaders: JMI Equity's Dave Greenberg and Suken Vakil With [Suken Vakil](https://millionrounds.com/person/suken-vakil) Mentions [JMI Equity](https://millionrounds.com/fund/jmi-equity) Apple PodcastsShow page

### Mentioned in

- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 28 Jul 2020 · 21 min Rapidly Scaling Software Companies: Vena CEO Hunter Madeley Apple PodcastsShow page

## Quick answers about JMI Equity

### What does JMI Equity invest in?

JMI Equity invests most often at Venture and Series B (44% of the rounds on record), in sectors such as Subscription, Software and SaaS.

### How active is JMI Equity?

116 investments on record, 6 of them in the last 12 months, and it led 7. The most recent was in Sept 2026.

### What has JMI Equity invested in recently?

Its most recent investments on record: Archy (Series C, Sept 2026), SewerAI (Growth, Jun 2026) and gaiia (Series B, May 2026).

### How big are JMI Equity's cheques?

The median round it joins is $50M.

### Does JMI Equity lead rounds?

Sometimes: it led 7 of its 116 investments on record (6%).

### Where does JMI Equity invest?

Most of the companies it backs are in the United States (79%) and Canada (15%).

### Is JMI Equity investing now?

Yes: it is actively investing, with 6 investments in the last 12 months.

### Who does JMI Equity invest alongside?

Most often Insight Partners (6 rounds together), Menlo Ventures (6 rounds together) and BDC Capital (5 rounds together).

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