NEA Backs 8 Companies among The Wall Street Journal’s Top 50 Startups
C. Richard Kramlich
New Enterprise Associates has invested in eight of the top 50 venture-backed startups ranked by The Wall Street Journal.
The venture firm, with offices in Chevy Chase and Timonium, Md., is an investor in Tabula, NeuroPace Inc., 10gen Inc., Boku Inc., SmartDrive Systems Inc., Aerohive Networks Inc., Xoom Corp. and Lithium Technologies Inc. Of them, chip-maker Tabula is the highest ranked on the list, at No. 3, and Neuropace and 10gen are in the top 10.
Four other venture firms in the capital region have investments in the 50 startups.
Revolution LLC has funded UberMedia Inc.; Revolution Ventures has a stake in SmartDrive Systems Inc.; True Ventures invested in Keep Holdings Inc.; and the CIA’s In-Q-Tel has funded ThreatMetrix Inc.
Of the 50 companies on the list, 37 are based in California, four in New York and three in Massachusetts.
To be eligible for the ranking – compiled by research firm VentureSource, which like Journal is owned by News Corp. – companies must be based in the U.S., have received an equity round of financing in the past three years and be valued at less than $1 billion, as the aim is to identify lesser-known start-ups, the Journal said.