Frontline Ventures, a leading venture capital firm focusing on B2B software companies, announced it has raised €182 million across two funds: Frontline Growth and Frontline Seed. These new funds will propel the transatlantic expansion of B2B software companies, fostering innovation in both North America and Europe. This investment underscores Frontline’s commitment to nurturing the growth of globally ambitious B2B software companies with the potential to be category leaders and eventually IPO.
Frontline Ventures launched to bring the U.S. venture mindset to Europe, and over the past decade has expanded its presence in both regions to help B2B software companies capture the transatlantic market. The U.S. and Europe are the two most critical markets for tech innovation and together account for 70% of global software spend and 70% of global venture capital dollars. The firm’s U.S.-Europe corridor offers unparalleled support and critical connections, benefiting both seed- and growth-stage companies as they scale and expand internationally.
The seed fund has made over 80 investments in European startups over the past decade, of which more than 70% have already graduated to Series A funding and 60% expanded to the U.S. market. Led by partners Will Prendergast, Zoe Chambers and William McQuillan , Frontline’s third European fund will focus on backing companies at the pre-seed and seed stages. Notable seed portfolio companies include Workvivo, Pointy, and Qualio, as well as Finbourne, Signal AI, Cloudsmith and Overwatch, which was acquired by Benchling, in the UK.
“The U.S. and Europe account for the lion’s share of global software spend and global venture capital dollars. Frontline Seed’s mission over the past decade has been to help ambitious founders capture this critical transatlantic market and set them on the path to IPO,” said Will Prendergast, Partner at Frontline seed. “This has led us to become an integral partner for the highest-potential B2B software businesses in Europe, who we support through our network on everything from fundraising to their U.S. go to market. Our success is demonstrated by the high proportion of our portfolio companies that have graduated to Series A and expanded into the U.S. market – with more yet to come.”
The growth Fund, established five years ago, has backed more than a dozen North American companies with ambitions to expand into the European market. Under the leadership of Brennan O’Donnell and Stephen McIntyre, it targets companies through Series B to Series D. Growth-stage portfolio companies include notable names such as MosaicML, Lattice, Vanta, Attentive and Navan, and the fund is anticipating its first IPO within the next year.
“Though it is a traditionally overlooked market by U.S. entrepreneurs, Europe accounts for over 30% of the global revenues of top performing B2B software companies at IPO,” added Brennan O’Donnell, Partner at Frontline Growth. “Our goal at Frontline is to bridge the gap between the U.S. and European markets, providing a platform for B2B software companies to become global category leaders.”
Founded in 2012, Frontline Ventures is dedicated to building long-term relationships across the technology ecosystem, offering not just financial support but also access to a rich network of resources, expertise, and strategic partnerships. Frontline helps founders establish go to market strategies and supports fundraising efforts that enable sustained international success.
Read the orginal article: https://www.eu-startups.com/2024/03/dublin-based-frontline-ventures-raises-e182-million-across-two-funds-to-invest-in-b2b-software-in-the-transatlantic-market/
