# Sierra Ventures: portfolio, investments and team

> Sierra Ventures is a vc firm based in United States. 271 investments on record, 11 in the last 12 months, latest Oct 2026.

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

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

# Sierra Ventures

Last cheque observed Oct 2026; 271 cheques on record.

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Deploying now New fund $266M, Sept 2023 VC firm

Pre-seed Seed Series A Advanced Materials Deep Tech Infra

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Deploying now

**65%** of best year **11** **cheques in 12 months**, 271 on record

Since the last cheque **24** days **00** hrs **00** min **00** sec

Median round **$12M** Cheque size, as they say **$1.0M – $6.0M** Rounds led **6 of 271** Sole investor **28 rounds** Exits **37 from the portfolio** Mostly in **United States, 87%**

Pitch Sierra Ventures

## Sierra Ventures highlights

- 01 11 cheques in the last 12 months
- 02 Mostly Series A and Series B: 47% of its rounds
- 03 Sole investor in 28 rounds, median $5.0M
- 04 37 exits from the portfolio

## What they do

> Early-stage venture capital for first-principles founders. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $1.0M – $6.0M as they say
- **Stages:** Pre-seed Seed Series A Series B
- **Sectors:** Advanced Materials Deep Tech Infra
- **Based in:** San Mateo, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **271 appearances**

- **2026** 11 rounds
- **Oct** **[Thrixel](https://millionrounds.com/company/thrixel)** Seed · US · The SaaS News **$3.0M** *Led*
- **Oct** **[Siena AI](https://millionrounds.com/company/siena-ai)** Series A · US · The Recursive **$17M** With 4 others
- **Sept** **[AI Hospitality Group](https://millionrounds.com/company/ai-hospitality-group)** Seed · US **$7.5M** With 1 other
- **Sept** **[Modulate](https://millionrounds.com/company/modulate)** Venture · US · Google News search **$25M** With 5 others
- **Sept** **[ANDE.AI LTD](https://millionrounds.com/company/ande-ai-ltd)** Series A **$52M** With 2 others
- **Aug** **[Quintessent](https://millionrounds.com/company/quintessent)** Series A · US · Ventureburn **$40M** With 12 others
- **Jul** **[Smallest.ai](https://millionrounds.com/company/smallest-ai)** Series A · IN · TechCrunch **$13M** With 5 others
- **Jul** **[Spectro Cloud](https://millionrounds.com/company/spectro-cloud)** Series D · US **$100M** With 2 others
- **Apr** **[Sedai](https://millionrounds.com/company/sedai)** Venture · US **Undisclosed** With 4 others
- **Mar** **[ArmorCode](https://millionrounds.com/company/armorcode)** Series B · US · Ventureburn **$16M** With 7 others
- **Feb** **[Expert Intelligence](https://millionrounds.com/company/expert-intelligence)** Seed · US **$4.7M** With 1 other
- **2025** 15 rounds
- **Oct** **[Eden](https://millionrounds.com/company/eden)** Series A · MX · LatamList **$22M** *Led*
- **Oct** **[Smallest.ai](https://millionrounds.com/company/smallest-ai)** Grant · US **$1.0M** With 5 others
- **Oct** **[Planera](https://millionrounds.com/company/planera)** Series A · US **$8.0M** With 2 others
- **Oct** **[Movandi](https://millionrounds.com/company/movandi)** Venture · US **$40M** With 4 others
- **Sept** **[Revalia Bio](https://millionrounds.com/company/revalia-bio)** Seed · US · Crunchbase News **$15M** *Led*
- **Aug** **[FriendliAI](https://millionrounds.com/company/friendliai)** Seed · US · Crunchbase News **$20M** With 5 others
- **Jul** **[ProductNow](https://millionrounds.com/company/productnow)** Seed · US **$6.0M** Sole investor
- **Jul** **[Augmentus](https://millionrounds.com/company/augmentus)** Series A · SG **$11M** With 1 other
- **Jun** **[Sedai](https://millionrounds.com/company/sedai)** Series B · US **$20M** With 3 others
- **May** **[Outcomes4Me](https://millionrounds.com/company/outcomes4me)** Series A · US **$21M** With 2 others
- **Apr** **[Endor Labs](https://millionrounds.com/company/endor-labs)** Series B · US · TechCrunch **$93M** With 8 others
- **Apr** **[Agent IQ](https://millionrounds.com/company/agent-iq)** Venture · US **Undisclosed** Sole investor
- **Mar** **[Paro](https://millionrounds.com/company/paro)** Venture · US **Undisclosed** With 3 others
- **Feb** **[Eudia](https://millionrounds.com/company/eudia)** Series A · US **$105M** With 3 others
- **Feb** **[Fintary](https://millionrounds.com/company/fintary)** Series A · US **$10M** With 3 others
- **2024** 16 rounds
- **Dec** **[Cimulate AI](https://millionrounds.com/company/cimulate-ai)** Series A · US **$28M** With 3 others
- **Nov** **[VISO TRUST](https://millionrounds.com/company/viso-trust)** Venture · US **$7.0M** With 2 others
- **Oct** **[Q-CTRL](https://millionrounds.com/company/q-ctrl)** Series B · AU · Startup Daily **$59M** With 14 others
- **Oct** **[Citcon](https://millionrounds.com/company/citcon)** Venture · US **$4.8M** With 4 others
- **Sept** **[Siena AI](https://millionrounds.com/company/siena-ai)** Seed · US **$6.0M** With 3 others
- **Sept** **[Interplay Learning](https://millionrounds.com/company/interplay-learning)** Growth · US **$20M** With 4 others
- **Aug** **[TeamOhana](https://millionrounds.com/company/teamohana)** Venture · US **$7.5M** With 2 others
- **Aug** **[Inventive AI](https://millionrounds.com/company/inventive-ai)** Seed · US **$4.0M** With 3 others
- **Jul** **[Eden](https://millionrounds.com/company/eden)** Series A · MX **$10M** With 2 others
- **Mar** **[Balto](https://millionrounds.com/company/balto)** Series B · US **$5.7M** With 4 others
- **Mar** **[Wizeline](https://millionrounds.com/company/wizeline)** Venture · US **$38M** With 2 others
- **Mar** **[The New Club](https://millionrounds.com/company/the-new-club)** Seed · US **$3.1M** With 4 others
- **Feb** **[Gitar](https://millionrounds.com/company/gitar)** Seed · US **$9.0M** With 1 other
- **Feb** **[Qualiti](https://millionrounds.com/company/qualiti)** Seed · US **$2.7M** With 3 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 **5 named**

A(**Aditya (Tim) Guleri** A Managing Director of the General Partner i Filing they signed

JD **Jim Doehrman** Operating Partner i Form ADV

MJ **Mark Joseph Fernandes** A Managing Director of the General Partner i Filing they signed

TG **Tim Guleri** A Manager of the General Partner i Filing they signed

Y(**Yunbei (Ben) Yu** A Managing Director of the General Partner i Filing they signed

We also hold **20** 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

**$2.0B** gross assets of its funds Oct 2026

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

- **Legal name:** Sierra Ventures Management III, L.L.C.
- **SEC number:** CRD 163849

## What they claim to have backed

From their own portfolio page (on their website)

**3** of 4 we have independently watched raise

[Chronosphere](https://millionrounds.com/company/chronosphere)[Liberty Strategic Capital](https://millionrounds.com/company/zimperium)[Netskope](https://millionrounds.com/company/netskope) Bankinfosecurity

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 **37 in all**

**[Corrigo](https://millionrounds.com/company/corrigo)** Bought by [JLL](https://millionrounds.com/fund/jll) **Undisclosed** Dec 2015

**[Razorsight](https://millionrounds.com/company/razorsight)** Bought by Synchronoss Technologies **Undisclosed** Nov 2015

**[Code Green Networks](https://millionrounds.com/company/code-green-networks)** Bought by Digital Guardian **Undisclosed** Oct 2015

**[Tempo AI](https://millionrounds.com/company/tempo-ai)** Bought by Salesforce **Undisclosed** May 2015

**[Meru Networks](https://millionrounds.com/company/meru-networks)** Bought by [Fortinet](https://millionrounds.com/fund/fortinet) **$44M** May 2015

**[Bina Technologies](https://millionrounds.com/company/bina-technologies)** Bought by Roche **Undisclosed** Dec 2014

**[Nexgate](https://millionrounds.com/company/nexgate)** Bought by Proofpoint **$35M** Oct 2014

**[Ooyala](https://millionrounds.com/company/ooyala)** Bought by [Telstra](https://millionrounds.com/fund/telstra) **$270M** Aug 2014

**[Adometry By Google](https://millionrounds.com/company/adometry-by-google)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **Undisclosed** May 2014

**[Parature](https://millionrounds.com/company/parature)** Bought by [Microsoft](https://millionrounds.com/fund/microsoft) **$100M** Jan 2014

**[Runa](https://millionrounds.com/company/runa)** Bought by [Staples](https://millionrounds.com/fund/staples) **Undisclosed** Oct 2013

**[Sourcefire](https://millionrounds.com/company/sourcefire)** Bought by [Cisco](https://millionrounds.com/fund/cisco) **$2.7B** Jul 2013

**[Webcollage](https://millionrounds.com/company/webcollage)** Bought by Answers Corporation **Undisclosed** May 2013

**[Payvment](https://millionrounds.com/company/payvment)** Bought by [Intuit](https://millionrounds.com/fund/intuit-prosperity-accelerator) **Undisclosed** Jan 2013

**[Marathon Technologies](https://millionrounds.com/company/marathon-technologies)** Bought by [Stratus Technologies](https://millionrounds.com/fund/stratus-technologies) **Undisclosed** Sept 2012

**[DynamicOps](https://millionrounds.com/company/dynamicops)** Bought by [VMware](https://millionrounds.com/fund/vmware) **Undisclosed** Jul 2012

**[Multigig](https://millionrounds.com/company/multigig)** Bought by Analog Devices **Undisclosed** Mar 2012

**[Micro Power Electronics](https://millionrounds.com/company/micro-power-electronics)** Bought by Electrochem **Undisclosed** Dec 2011

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

**[Approva](https://millionrounds.com/company/approva)** Bought by Lawson Software **Undisclosed** Sept 2011

The latest 20 here. An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$266M**

raised in Sept 2023

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

## The cheque

Pre-seed Seed Series A

Median round joined **$12M** the round, not its cheque Alone, median **$5.0M**

Led 6 of 271 rounds **2%**

- **Said size:** $1.0M – $6.0M
- **Sole investor:** 28 rounds
- **Last cheque:** Oct 2026
- **Exits:** 37 from the portfolio

Rounds by stage said on their site

- Series A said *65*
- Series B said *52*
- Venture *40*
- Seed said *36*
- Series C *34*
- Series D *21*
- Pre-seed said *-*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [Storm Ventures](https://millionrounds.com/fund/storm-ventures) 10
- [Translink Capital](https://millionrounds.com/fund/translink-capital) 10
- [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) 9
- [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) 9
- [AngelPad](https://millionrounds.com/fund/angelpad) 7
- [Intel Capital](https://millionrounds.com/fund/intel-capital) 7

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

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## Who they invest alongside

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

[**Storm Ventures** VC firm **10** rounds together](https://millionrounds.com/fund/storm-ventures)[**Translink Capital** VC firm **10** rounds together](https://millionrounds.com/fund/translink-capital)[**Alumni Ventures** VC firm **9** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**New Enterprise Associates** VC firm **9** rounds together](https://millionrounds.com/fund/new-enterprise-associates)[**AngelPad** Accelerator **7** rounds together](https://millionrounds.com/fund/angelpad)[**Intel Capital** Corporate VC **7** rounds together](https://millionrounds.com/fund/intel-capital)[**Mayfield Fund** VC firm **7** rounds together](https://millionrounds.com/fund/mayfield)[**Y Combinator** Accelerator **7** rounds together](https://millionrounds.com/fund/y-combinator)[**Austin Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/austin-ventures)[**Canaan** VC firm **6** rounds together](https://millionrounds.com/fund/canaan-partners)[**Cota Capital** VC firm **6** rounds together](https://millionrounds.com/fund/cota-capital)[**Crosslink Capital** VC firm **6** rounds together](https://millionrounds.com/fund/crosslink-capital)

## Recently backed

The latest companies Sierra Ventures put money into.

[**Siena AI** $17M · Oct 2026](https://millionrounds.com/company/siena-ai)[**AI Hospitality Group** $7.5M · Sept 2026](https://millionrounds.com/company/ai-hospitality-group)[**Modulate** $25M · Sept 2026](https://millionrounds.com/company/modulate)[**Quintessent** $40M · Aug 2026](https://millionrounds.com/company/quintessent)[**Spectro Cloud** $100M · Jul 2026](https://millionrounds.com/company/spectro-cloud)[**Sedai** Apr 2026](https://millionrounds.com/company/sedai)

## Quick answers about Sierra Ventures

### What does Sierra Ventures invest in?

Sierra Ventures invests most often at Series A and Series B (47% of the rounds on record), in sectors such as Advanced Materials, Deep Tech and Infra.

### How active is Sierra Ventures?

271 investments on record, 11 of them in the last 12 months, and it led 6. The most recent was in Oct 2026.

### What has Sierra Ventures invested in recently?

Its most recent investments on record: Thrixel (Seed, Oct 2026), Siena AI (Series A, Oct 2026) and AI Hospitality Group (Seed, Sept 2026).

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

The median round it joins is $12M. It says it writes cheques of $1.0M to $6.0M.

### Does Sierra Ventures lead rounds?

Sometimes: it led 6 of its 271 investments on record (2%).

### Where does Sierra Ventures invest?

Most of the companies it backs are in the United States (87%) and Mexico (5%).

### Is Sierra Ventures investing now?

Yes: it is actively investing, with 11 investments in the last 12 months.

### Who does Sierra Ventures invest alongside?

Most often Storm Ventures (10 rounds together), Translink Capital (10 rounds together) and Alumni Ventures (9 rounds together).

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