# SAP: portfolio, investments and team > SAP is a growth equity based in Germany. 18 investments on record, 2 in the last 12 months, latest May 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/sap (Millionrounds; every figure on the page links to its filing or article) Germany · [Investor](https://millionrounds.com/investors) # SAP Last cheque observed May 2026; 18 cheques on record. Email Deploying now Growth equity Series D Series B Venture Lifestyle Nanotechnology Analytics Follow SAP and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fsap) Deploying now **100%** of best year **2** **cheques in 12 months**, 18 on record Since the last cheque **172** days **00** hrs **00** min **00** sec Median round **$31M** Rounds led **1 of 18** Sole investor **1 rounds** Exits **7 from the portfolio** Mostly in **United States, 89%** Pitch SAP ## SAP highlights - 01 2 cheques in the last 12 months - 02 Mostly Series D and Series B: 56% of its rounds - 03 Sole investor in 1 rounds, median $40M - 04 7 exits from the portfolio ## What they do - **Type:** Growth equity (from a list, unverified) - **Cheque size:** Not stated - **Sectors:** Lifestyle Nanotechnology Analytics - **Based in:** Walldorf, Germany - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **18 appearances** - **2026** 2 rounds - **May** **[n8n](https://millionrounds.com/company/n8n)** DE · Highland Europe **Undisclosed** *Led* - **Jan** **[Deepgram](https://millionrounds.com/company/deepgram)** Series C · US · TechCrunch **$130M** With 15 others - **2022** 1 round - **Nov** **[Runa](https://millionrounds.com/company/runa)** Series B · GB · 13books Capital **$31M** With 10 others - **2019** 1 round - **Feb** **[Evisort](https://millionrounds.com/company/evisort)** Seed · US · FinSMEs **$4.5M** With 5 others - **2015** 2 rounds - **Dec** **[ThreatConnect, Inc.](https://millionrounds.com/company/threatconnect-inc)** Series B · US **$16M** With 1 other - **Jan** **[Alchemist Accelerator](https://millionrounds.com/company/alchemist-accelerator)** Venture · US **$2.1M** With 9 others - **2014** 1 round - **Sept** **[Black Duck Software](https://millionrounds.com/company/black-duck-software)** Series F · US **$20M** With 7 others - **2013** 1 round - **Sept** **[Virtustream](https://millionrounds.com/company/virtustream)** Series D · US · finsmes.com **$40M** Sole investor - **2011** 1 round - **Oct** **[Black Duck Software](https://millionrounds.com/company/black-duck-software)** Series E · US · masshightech.com **$12M** With 9 others - **2009** 1 round - **Feb** **[Black Duck Software](https://millionrounds.com/company/black-duck-software)** Series D · US · techcrunch.com **$5.0M** With 9 others - **2008** 3 rounds - **Oct** **[LinkedIn](https://millionrounds.com/company/linkedin)** Series D · US · paidcontent.org **$23M** With 4 others - **May** **[InnoCentive](https://millionrounds.com/company/innocentive)** Series B · US · findarticles.com **$6.5M** With 1 other - **Feb** **[LogLogic](https://millionrounds.com/company/loglogic)** Series D · US **$14M** With 4 others - **2007** 1 round - **Feb** **[Black Duck Software](https://millionrounds.com/company/black-duck-software)** Series C · US · blackducksoftware.com **$12M** With 7 others - **2005** 1 round - **Jun** **[Black Duck Software](https://millionrounds.com/company/black-duck-software)** Series B · US · intel.com **$12M** With 7 others - **2004** 1 round - **May** **[Tealeaf](https://millionrounds.com/company/tealeaf)** Series D · US **$8.0M** With 3 others - **2000** 1 round - **Nov** **[Requisite Technology](https://millionrounds.com/company/requisite-technology)** Venture · US **$30M** With 4 others - **1999** 1 round - **Dec** **[eCredit](https://millionrounds.com/company/ecredit)** Venture · US **$24M** With 10 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 We hold **104** 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. Funds they back ## 1 fund commitment on record - **Managers:** 1 Every fund on record that it has committed money to, and the managers who invest it. Source: fund news. Managers it backs most - [Working Capital 1 fund](https://millionrounds.com/fund/working-capital-fund) Most recent commitments - [Working Capital Fund Fund III](https://millionrounds.com/fund/working-capital-fund) ## Exits from the portfolio Companies it backed that were later bought or listed **7 in all** **[LinkedIn](https://millionrounds.com/company/linkedin)** Bought by [Microsoft](https://millionrounds.com/fund/microsoft) **$26B** Dec 2016 **[Virtustream](https://millionrounds.com/company/virtustream)** Bought by [EMC](https://millionrounds.com/fund/emc) **$1.2B** May 2015 **[Tealeaf](https://millionrounds.com/company/tealeaf)** Bought by [IBM (International Business Machines)](https://millionrounds.com/fund/ibm-international-business-machines) **Undisclosed** May 2012 **[LogLogic](https://millionrounds.com/company/loglogic)** Bought by TIBCO Software Inc. **$130M** Apr 2012 **[LinkedIn](https://millionrounds.com/company/linkedin)** Listed **$353M** Jul 2011 **[eCredit](https://millionrounds.com/company/ecredit)** Bought by [Fidelity Ventures](https://millionrounds.com/fund/fidelity-ventures) **Undisclosed** Dec 2006 **[Requisite Technology](https://millionrounds.com/company/requisite-technology)** Bought by Click Commerce **$21M** Nov 2005 An exit counts when it came after the firm's first round in the company. From historical deal records. ## Companies it bought Acquisitions by the firm itself **[Concur Technologies](https://millionrounds.com/company/concur-technologies)** **$8.3B** Sept 2014 **[OpTier](https://millionrounds.com/company/optier)** **$10M** Aug 2014 **[SeeWhy](https://millionrounds.com/company/seewhy)** **Undisclosed** May 2014 **[Fieldglass](https://millionrounds.com/company/fieldglass)** **Undisclosed** Mar 2014 **[KXEN](https://millionrounds.com/company/kxen)** **Undisclosed** Sept 2013 **[hybris](https://millionrounds.com/company/hybris)** **$1.0B** Jun 2013 **Ariba** **$4.3B** May 2012 **Syclo** **Undisclosed** Apr 2012 **[SuccessFactors](https://millionrounds.com/company/successfactors)** **$3.4B** Feb 2012 **[datango](https://millionrounds.com/company/datango)** **Undisclosed** Jan 2012 **[Right Hemisphere](https://millionrounds.com/company/right-hemisphere)** **Undisclosed** Sept 2011 **Sybase** **$5.8B** May 2010 ## The cheque Series D Series B Venture Median round joined **$31M** the round, not its cheque Alone, median **$40M** Led 1 of 18 rounds **6%** - **Sole investor:** 1 rounds - **Last cheque:** May 2026 - **Exits:** 7 from the portfolio Rounds by stage said on their site - Series D *5* - Series B *4* - Venture *3* - Series C *2* - Seed *1* - Series E *1* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Sapphire Ventures](https://millionrounds.com/fund/sapphire-ventures) 6 - [General Catalyst](https://millionrounds.com/fund/general-catalyst) 5 - [Intel Capital](https://millionrounds.com/fund/intel-capital) 5 - [Volition Capital](https://millionrounds.com/fund/volition-capital) 5 - [Fidelity Ventures](https://millionrounds.com/fund/fidelity-ventures) 4 - [Hard Yaka](https://millionrounds.com/fund/hard-yaka) 4 **Pitching SAP?** 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 SAP. A count of rooms they were both in, not a relationship either has claimed. [**Sapphire Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/sapphire-ventures)[**General Catalyst** VC firm **5** rounds together](https://millionrounds.com/fund/general-catalyst)[**Intel Capital** Corporate VC **5** rounds together](https://millionrounds.com/fund/intel-capital)[**Volition Capital** VC firm **5** rounds together](https://millionrounds.com/fund/volition-capital)[**Fidelity Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/fidelity-ventures)[**Hard Yaka** VC firm **4** rounds together](https://millionrounds.com/fund/hard-yaka)[**Flagship Ventures** Accelerator **3** rounds together](https://millionrounds.com/fund/flagship-ventures)[**Focus Ventures** Growth equity **3** rounds together](https://millionrounds.com/fund/focus-ventures-2)[**Flagship Pioneering, LLC** VC firm **2** rounds together](https://millionrounds.com/fund/flagship-pioneering-llc)[**Foundation Capital** VC firm **2** rounds together](https://millionrounds.com/fund/foundation-capital)[**Salesforce Ventures** Corporate VC **2** rounds together](https://millionrounds.com/fund/salesforce-ventures)[**Split Rock Partners** VC firm **2** rounds together](https://millionrounds.com/fund/split-rock-partners) ## Recently backed The latest companies SAP put money into. [**n8n** May 2026](https://millionrounds.com/company/n8n)[**Deepgram** $130M · Jan 2026](https://millionrounds.com/company/deepgram)[**Runa** $31M · Nov 2022](https://millionrounds.com/company/runa)[**Evisort** $4.5M · Feb 2019](https://millionrounds.com/company/evisort) ## Quick answers about SAP ### What does SAP invest in? SAP invests most often at Series D and Series B (56% of the rounds on record), in sectors such as Lifestyle, Nanotechnology and Analytics. ### How active is SAP? 18 investments on record, 2 of them in the last 12 months, and it led 1. The most recent was in May 2026. ### What has SAP invested in recently? Its most recent investments on record: n8n (May 2026), Deepgram (Series C, Jan 2026) and Runa (Series B, Nov 2022). ### How big are SAP's cheques? The median round it joins is $31M. ### Does SAP lead rounds? Sometimes: it led 1 of its 18 investments on record (6%). ### Where does SAP invest? Most of the companies it backs are in the United States (89%), Germany (6%) and the United Kingdom (6%). ### Is SAP investing now? Yes: it is actively investing, with 2 investments in the last 12 months. ### Who does SAP invest alongside? Most often Sapphire Ventures (6 rounds together), General Catalyst (5 rounds together) and Intel Capital (5 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=sap) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=sap)