Investor Highlights: Kleiner Perkins (Part 1)

Established in 1972, Kleiner Perkins operates as a venture capital company from its Menlo Park, California headquarters. They have a keen interest in funding businesses at various stages, from seed to late-stage. Their investment interests span sectors such as business and consumer products and services, financial services, healthcare, IT, SaaS, manufacturing, life sciences, TMT, B2B payments, cybersecurity, and infrastructure. Geographically, they focus on the U.S., Canada, the Middle East, the U.K., North America, and Mainland China.

Kleiner Perkins has invested in many Prime Unicorn Index components. In this post, we will highlight some of these investments.

Figma provides the first professional interface tool with real-time collaboration, created specifically for interface design. It is a Kleiner Perkins portfolio company and a component of the Prime Unicorn Index. Figma has raised six times, its most recent round being a $200 million Series E round in June 2021. This round was led by Durable Capital Partners, with participation from Kleiner Perkins, Andreessen Horowitz, Index Ventures, and others at a preferred price per share of $21.30, valuing the company at $8.4 billion. Figma is currently in discussions to be acquired by Adobe.

People Center, Inc. (DBA: Rippling) has developed an Employee Management System to enable businesses to manage their HR and IT in a single platform. It is also a Kleiner Perkins portfolio company and a component of the Prime Unicorn Index. Rippling had a $250 million Series D round in May 2022 at a preferred price per share of $42.12, its fourth raise. This valued the company at $11.4 billion and included investors such as Kleiner Perkins, Sequoia, Bedrock, and Y Combinator.

Farmers Business Network is a farmer-to-farmer agronomic information network. Farmers Business Network (FBN) utilizes data science and machine learning to provide members with unbiased and unprecedented insights about each field, powered by billions of data points from their network. They provide farmers with product performance, benchmarking, and predictive analytics based on real-world performance data. FBN’s most recent raise was a $300 million Series G in September 2021 at $62.16 per share, valuing the company at $3.7 billion. The round was led by Fidelity, with participation from Blackrock, GV, ADM Ventures, Temasek, T. Rowe Price, and others. Kleiner Perkins participated in all previous rounds, absent the Series G. 

Plaid (FKA: Plaid Technologies Inc.)  provides a platform that enables applications to connect with users’ bank accounts. It focuses on lowering the barriers to entry into financial services by making it easier and safer to use financial data. It builds beautiful consumer experiences, user-friendly infrastructure, and intelligence tools that allow everyone to develop the future of financial services. Plaid has raised five times, most recently in a $425 million Series D in April 2021 at $582.15 per share. This valued the company at $11.3 billion and was led by Altimeter, with participation from Kleiner Perkins, Andreessen Horowitz, Ribbit Capital, Index Ventures, and others.

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