As I have dug into this line of questioning, I’ve come to believe that the “LinkedIn for companies” will be created in the form of vertical-specific procurement marketplaces. But marketplaces like BuildingConnected are not easy to build in the B2B world. ABOUT US. Early Snapchat backer Lightspeed Venture Partners has been beefing up its European operations in 2020 as it looks to snap up the continent's best talent. View the portfolio. Venture isn't just a business; it's a craft. "There's an excitement at the top of the firm to do this properly," Lightspeed's Quinn added. I first met Dustin DeVan, co-founder and CEO of BuildingConnected, and his co-founder, Jesse Pedersen, in late 2015 after sending a cold email. Dustin worked in construction for several years, and found an industry still reliant on legacy technology and networking models that required intense and time consuming rebuilds for each new project. There are clear signs that's changing. Join to Connect Lightspeed Venture Partners. BuildingConnected is building the go-to bid management platform for commercial construction. David Baga | San Francisco Bay Area | Chief Operating Officer at Lightspeed Venture Partners | 500+ connections | See David's complete profile on Linkedin and connect Lightspeed is an early-stage venture capital firm headquartered in Menlo Park, California, and with around $4 billion under management. Dustin and I immediately connected around this shared vision, and today we’re excited to announce that Lightspeed Venture Partners is leading a $22M Series B investment in BuildingConnected. BE ONE LIGHTSPEED. For subs looking to expand their business, there now exists a way to market on a platform used by the entire industry, making it easy and efficient to discover new opportunities by region or project type. European founders say with remarkable consistency that they need to travel to California to raise serious rounds of cash. Lightspeed is not the first US-based investor to explore a move to the continent, as backers look for good value deals in enterprise software and fintech. Harvard University. Lightspeed Venture Partners is multi-stage, global venture capital firm focused on accelerating disruptive innovations and trends across sectors. BuildingConnected offers an open network approach, which means it maintains the most up-to-date information on each participant. Stanford University Graduate School of Business. Here’s how: Taking a network approach to bid management has many advantages: BuildingConnected has created massive efficiencies, and the platform is just getting started. These two have a massive vision for a space that’s been crying out for innovation. We were thrilled to jump on the opportunity to partner with BuildingConnected, and we couldn’t be more thrilled to support the vertical market network for the commercial construction world. Join to Connect Lightspeed Venture Partners. In our first meeting, I introduced my thoughts around “‘LinkedIn for companies,”’ and they shared their vision for reinventing the commercial construction industry. San Francisco, CA. We are at our best as a global team. Partner at Lightspeed Venture Partners San Francisco, California 500+ connections. And just as every founder is unique, so is each one of our partners. At Lightspeed we believe tomorrow is built today. Join to Connect Lightspeed Venture Partners. Success in Venture Capital comes down to getting an entrepreneur to pick you. "It's only in the past few years that Europe as a continent has begun to have big tech companies. View Jeremy Liew’s profile on LinkedIn, the world’s largest professional community. Lightspeed will be looking to build out it's European team in 2021 as the firm seeks to move from the remote world to a post-Covid future. Nine months ago we started our journey at Noname Security with Cyberstarts - … Over the last couple of years I’ve given a lot of thought to one question: Why is there no web-based platform that maps relationships between companies, analogous to how LinkedIn maps our professional relationships? Today, GCs and subs maintain business and contact information in siloed databases that are often out of date. Jeremy has 7 jobs listed on their profile. The guts of the platform is a free-to-use open network that any general contractor (GC) or subcontractor (sub) can join. Microsoft's venture arm M12 has also made inroads into Europe. Silicon Valley's venture capitalists have made concerted efforts to establish offices in Europe over the last year, in another indication of the continent's tech maturation. Nicole Quinn | San Francisco, California | Partner at Lightspeed Venture Partners | 500+ connections | See Nicole's complete profile on Linkedin and connect Partner insights. Sequoia subsequently poached Accel Europe's Luciana Lixandru, and recently hired former Revolut product lead George Robson. A leading-edge research firm focused on digital transformation. Learn about the people who’ve made Lightspeed a top-tier firm in multi-stage venture. We also reported that New York-headquartered Bessemer was establishing a London office. In short, Valley investors see a greater chance of exit. Partner at Lightspeed Venture Partners Israel 500+ connections. Lightspeed Venture Partners Jan 2020 - Present 1 year. Meredith Kendall Maines | San Francisco, California | Partner, Marketing at Lightspeed Venture Partners | 500+ connections | See Meredith's complete profile on Linkedin and connect Diversity is now table stakes for companies in the valley. Essentially, each new project meant starting from scratch. In recent years, music streaming firm Spotify, Dutch payments firm Adyen, and fashion site FarFetch have all listed. "It's only in the past few years that Europe as a continent has begun to have big tech companies," Vitkauskas told Business Insider. That's a new phenomenon in the past this didn't happen. More specifically, my thesis is that over the next decade, we will see almost every business interaction initiated and completed online, and this transaction layer will be built on top of a vertical-specific company graph. Report this profile Activity $25M Series A! Our Mission. Meet the team. Account active Over the past 20 years, we've cultivated a team of partners who've mastered both the art and science of helping founders from various verticals build time-tested companies. The firm will look to compete on rounds from Series B upwards in Europe and remains somewhat sector agnostic. Sequoia has also begun adding European scouts to its roster, such as Station F chief Roxane Varza in Paris. as well as other partner offers and accept our, Visit Business Insider's homepage for more stories, Atomico's State of European tech report for 2020, Business Insider was the first to report in November 2019, subsequently poached Accel Europe's Luciana Lixandru, LinkedIn and Pinterest backer Bessemer Venture Partners plans to establish base in Europe, tempted by big exits such as Adyen, Spotify, and TeamViewer. Pre-existing relationships are no longer the primary prerequisite to sniffing out bids and winning jobs. "We have 9 offices worldwide but Europe was a blank spot," Vitkauskas added. A record number of US institutions, 552, participated in at least one investment round in Europe in 2020, a 36% increase since 2016, according to Atomico's State of European tech report for 2020. Major European IPOs on the horizon include food delivery firm Deliveroo, security firm Darktrace, and software firm UiPath. Impulsive decisions are rare, with much of the decision making taking place over multiple conversations involving much greater depth of information sharing happening between parties. For GCs entering a new geography, it’s easy to identify pre-qualified subs to invite to bid on projects, filter lists of subs based on specific criteria, and so on. BuildingConnected then features premium SaaS offerings to manage the bidding process. "Candidly, there has been a cultural shift in Europe which is leading to there being more founders on the continent, that's been a catalyst for us.". Partner at Lightspeed Venture Partners & Founding Partner #ANGELS San Francisco, California, United States 500+ connections. "It's remarkable that we didn't have something in Europe previously," Vitkauskas told Business Insider in an interview. Business Insider was the first to report in November 2019 that Sequoia had hired a talent search firm ahead of a London launch. Subscriber In the age of Facebook and LinkedIn, this didn’t make sense to any of us. Unlike other B2B procurement solutions, BuildingConnected has taken a network-based approach to building its business. By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider Sign up to 10 Things in Tech You Need to Know Today. Our mission is to serve the world’s most extraordinary people who are building tomorrow’s companies today. "VCs should be going extra mile for founders so it's best to be on the ground," Quinn said. Explore perspectives on technology, culture, business, and venture capital. Think “LinkedIn for commercial construction. Once on the platform, these GCs and subs can easily connect with other participants in the construction ecosystem. Companies transact differently with each other than individuals interacting with services. Personal Website. Fat Protocols vs Fat Dapps vs Fat Wallets, The US internet industry can learn a lot from Indian cricket, Why Lightspeed invested in Hasura: bringing GraphQL to everyone, APIs — The New Frontier in Observability and Security. I’ve known Dustin and Jesse for two years, and they’ve not only hit every milestone, they’ve exceeded all of our growth and product expectations. Gaurav Gupta VC at Lightspeed, former Product exec at Splunk & Elastic. "I do think you need to look everywhere, we want to be close to where the best talent is and go there.". There's another data point to add to the evidence that Europe is maturing as a tech ecosystem: Silicon Valley is moving in. Gaurav Gupta. Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. See the companies. Nikki Pechet. The venture capital firm set up an office in London last year, headed by partner Rytis Vitkauskas with support from US-based Nicole Quinn and Bradley Twohig. Partner at Lightspeed Venture Partners San Francisco, California, United States 500+ connections. Singapore We are investors in key Southeast Asian startups like Grab, Shipper, Chilibeli, Ula and several more to be announced. Your morning cheat sheet to get you caught up on what you need to know in tech. Partner Lightspeed India Partners Advisors Oct 2015 - Present 5 years 3 months. Snapchat backer Lightspeed Venture Partners has set up an office in London, headed by partner Rytis Vitkauskas with support from Nicole Quinn and Bradley Twohig, who are based in the US. Its 400-strong portfolio includes "Fortnite" creator Epic Games, Calm, and Snapchat. BuildingConnected is the first unified database in the construction world. San Francisco Bay Area. Partner, Talent at Lightspeed Venture Partners. Lightspeed's European investments to-date include Lithuanian unicorn Vinted, Clean Liquor, WhiteHat, alongside two German startups Candis and Personio. Major European tech firms include Takeaway.com, Criteo, Spotify, Adyen, UiPath, and Farfetch. "LightSpeed Venture Partners" Posts Managed Security Service Provider (MSSP) News: 27 October 2020 Today’s MSSP & cybersecurity news involves AttackIQ, Axio, Axis, BeMSP, BlackFog, Cyber Guards, Azure Sentinel, Myki, SentinelOne, Theta Lake, XM Cyber & more. Quinn will spend half her time in California and half in Europe, she told Business Insider in an interview. Lightspeed is an early-stage venture capital firm headquartered in Menlo Park, California, and with around $10.5 billion under management. "The data speaks for itself, we're finding terrific founders in Europe and our London base gives us the chance to actually meet people.". Our Values. since. 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