OpenView was founded in 2006 on a mission to improve people’s working lives by investing in business software companies at the expansion stage.

OpenView’s partnership has taken a step back to reflect and to strategize a path forward. The firm has decided to suspend investing in new companies in our current fund (Fund VII) and instead focus resources on building further value in the existing portfolio, while taking time to determine the best go-forward strategy. We will be entering a voluntary suspension period for Fund VII. We believe this is the right thing to do strategically and as a fiduciary of our LPs’ capital. 

We are proud to partner with a broad mix of founders and CEOs, and we believe in the future potential of our existing portfolio companies. We are committed to supporting their financial and operational needs as they continue to innovate, hire and grow.

OpenView will continue to have fund reserves to invest in these existing portfolio companies. The firm’s senior partners expect to work closely with these companies as board members as well as support the operational needs of our portfolio companies through OpenView’s Expansion Platform, including via growth strategy, recruiting, and corporate development initiatives.

While we will refocus our resources on supporting the portfolio, these changes have led to a broad-based internal restructuring that has reduced staffing levels across teams to align firm resources with this new strategic path forward. This means parting ways with an incredible group of people who have done phenomenal work. We are supporting these colleagues as they work to find what’s next in their careers.

We are grateful beyond measure to the amazing community of entrepreneurs, investors, and the broader VC and SaaS communities that have supported us over these last 17 years – and look forward to working with the community going forward. Followers of the firm’s SaaS industry thought leadership can continue to access the firm’s resources and reports via the OpenView blog and newsletter.

Thank you for your support.

BOSTON, March 27, 2023 — OpenView announced the closing of its seventh fund totaling $570 million, which will continue the firm’s dedication to partnering with high-growth software startups. The latest fund represents a 25% increase over the firm’s sixth fund and is its largest to date, enabling OpenView to support more entrepreneurs through this challenging macroeconomic climate.

OpenView will maintain its focused strategy of high conviction, concentrated venture capital investments in business software companies at the expansion stage. The firm invests globally across all business software categories including infrastructure, applications, cybersecurity, and vertical software. 

“As we have for nearly two decades, we remain focused on identifying and supporting innovative business software companies in high-growth product markets primed for rapid expansion,” said Mackey Craven, partner at OpenView.

Since its founding in 2006, OpenView has raised a total of $2.4 billion across its seven funds and has partnered with more than 60 companies including Datadog, Calendly, Axonius, JumpCloud, UserTesting, and Workfront, among others. 

“During this time of turbulence in the financial markets, OpenView is excited to have a new fund to support software startups,” said Blake Bartlett, partner. “We are grateful for our partnership with world-class limited partners, which makes it possible to support these promising companies as they build the future.”

OpenView is led by veteran investors including Scott Maxwell, Mackey Craven, and Blake Bartlett, along with a next generation of partners who joined the partnership in its sixth fund. All are dedicated to the firm’s mission of improving people’s working lives by supporting business software companies that make this mission a reality.

With nearly 80 team members, OpenView has a two and a half-to-one ratio of people to portfolio companies. This level of resourcing makes it possible for the firm to work hand in hand with portfolio companies to attract and retain more of the best-fit customers and talent.

“OpenView is dedicated to helping its portfolio companies with meaningful and measurable value that accelerates their journey through the expansion stage,” said Kyle Poyar, operating partner. “Whether it’s running a pricing project, placing an executive hire, connecting a founder to a top-tier CMO, or helping companies access capital markets, our Expansion Platform removes hurdles to unlock growth.”

The firm expects to continue its high-conviction investing approach, which allows OpenView to build trusted relationships with portfolio companies before, during, and after investment. OpenView has already begun investing out of Fund VII and looks forward to supporting the next generation of software entrepreneurs as they scale through the expansion stage and beyond.

Disclaimer: The materials contain current and former OpenView portfolio companies. For additional information including a full list of portfolio companies, please visit our website.

About OpenView

Founded in 2006, OpenView is a venture capital firm investing globally in business software companies. With a mission to improve people’s working lives, OpenView’s focused investment approach across sector and stage enables the firm to identify and partner with category-leading business software companies. The firm’s focus extends to a dedicated expansion team with the operational expertise to help portfolio companies on sales, marketing, product-led growth, talent, and corporate development. The firm is based in Boston and has $2.4 billion in total assets under management. For more information, please visit https://openviewpartners.com/.