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Herald Investment Management is a venture capital firm founded in 1993. It is primarily based out of London, United Kingdom. As of Sep 2023, Herald Investment Management has invested in 396 companies. It primarily invests in Series B round in United Kingdom based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Enterprise Infrastructure. Most recently it led the $3.7M Series B round of CriticalBlue along with Pentech. This round also saw participation from Lanza techVentures.
Overall, Herald Investment Management portfolio has seen 260 IPOs and 105 acquisitions including key companies like Microsoft, Zscaler and Pluralsight. A lot of funds co-invest with Herald Investment Management, with names like Caladium Investment sharing a substantial percentage of its portfolio.
Herald Investment Management has team of 16 people including 6 partners.
Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Post IPO, Series B & 4 more
Portfolio IPOs
Portfolio Acquisitions
Herald Investment Management's List of Top Investments
Herald Investment Management has a portfolio of 396 companies. Their most notable investmentis in CriticalBlueTheir portfolio spans across United Kingdom, United States, Australia and 25 more locations. They have invested in Enterprise Applications, High Tech, Enterprise Infrastructure and 35 other sectors, across stages such as Post IPO, Series B and 4 more. Here is the list of top investments by Herald Investment Management:1. Microsoft
A digital conglomerate and multinational computer corporation company. It is a technology company offering products and services for diversified areas such as artificial intelligence, cloud computing, productivity software, and gaming. The company develops, manufactures, licenses supports, and sells computer software, consumer electronics, and personal computers and services. It's portfolio includes products such as Microsoft 365, Azure, and Xbox, as well as a range of tools and platforms for developers, businesses, and consumers.
Key facts about Microsoft
- Founded Year: 1975
- Location: Redmond (United States)
- Annual Revenue: $245B as on Jun 30, 2024
- Stage: Public
- Employee Count: 228,000 as on Jun 30, 2024
- Investors: Herald Investment Management, Vulcan Capital and 46 Others
- Latest Funding Round: Grant (prize money), Apr 01, 2022
- Highlight: Public
2. Zscaler
It provides cybersecurity and zero trust solutions. The company offers a platform securing workforces, cloud environments, IoT/OT devices, and B2B connections. Its services include threat protection, data protection, and zero trust networking. It also provides risk management tools and various industry-specific solutions. The platform uses AI to enhance security and provide insights.
Key facts about Zscaler
- Founded Year: 2007
- Location: San Jose (United States)
- Annual Revenue: $673M as on Jul 31, 2021
- Stage: Public
- Total Funding till date: $148M
- Employee Count: 7,348 as on Jul 31, 2024
- Investors: Herald Investment Management, Sunrise Ventures and 15 Others
- Latest Funding Round: Post IPO, Jun 23, 2020, $1B
- Highlight: Public
3. Pluralsight
Cloud-based LMS platform for IT industry. Platform provides an online platform for programming courses. The products include assessments, analytics, role customization, professional services, and more. Its features include course discussions, offline viewing, onboarding, data export, etc. Monetizes through subscription-based pricing plans.
Key facts about Pluralsight
- Founded Year: 2004
- Location: Farmington (United States)
- Last Known Valuation: $1B as on Aug 27, 2014
- Stage: Acquired
- Total Funding till date: $235M
- Employee Count: 315 as on Aug 31, 2024
- Investors: Herald Investment Management, First Analysis and 12 Others
- Latest Funding Round: Series C, Dec 12, 2016, $30M
- Highlight: Acquired
4. Amazon
Online marketplace offering multi-category products. The product catalog includes home care, fashion, beauty, stationery, electronic, pet supplies, groceries, healthcare, fitness, books, mom and baby care products, and more. The mobile app is available for both Android and iOS users.
Key facts about Amazon
- Founded Year: 1994
- Location: Seattle (United States)
- Annual Revenue: $575B as on Dec 31, 2023
- Stage: Public
- Total Funding till date: $8M
- Employee Count: 1,556,000 as on Dec 31, 2024
- Investors: Herald Investment Management, Sunrise Ventures and 47 Others
- Latest Funding Round: Post IPO, Mar 22, 2013, $200M
- Highlight: Public
5. Medallia
AI powered customer experience management software. It enables users to capture and connect customer signals across the organization and interactions. It leverages AI to predict the customer behaviour in real time. It collects feedback from different sources such as email, website, apps, mobile messaging, IoT connected devices, software applications, calls, chat, social review sites, and more to personalize the customer experiences. It also provides solutions to monitor and track customer journey. The platform includes features for comprehensive feedback capture, administration of programs, role-based reporting, AI-driven analytics, and integrations with other systems.
Key facts about Medallia
- Founded Year: 2001
- Location: Pleasanton (United States)
- Annual Revenue: $477M as on Jan 31, 2021
- Last Known Valuation: $2.4B as on Mar 01, 2019
- Stage: Acquired
- Total Funding till date: $325M
- Employee Count: 1,531 as on Dec 31, 2021
- Investors: Herald Investment Management, HTIF and 9 Others
- Latest Funding Round: Post IPO, Sep 16, 2020, $575M
- Highlight: Acquired
Herald Investment Management's Year-on-Year Investment Trends
Herald Investment Management has invested in 398 companies over the last 21 years, with an average of 1 new investment annually in the last 10 years. Its most recent first time investment was in Ather Energy and most recent follow-on round was in Ather Energy.
Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2025 (YTD) | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 0 | 1 | 1 |
2022 | 1 | 1 | 2 |
2021 | 0 | 0 | 0 |
2020 | 0 | 0 | 0 |
2019 | 1 | 0 | 1 |
2018 | 2 | 0 | 2 |
2017 | 2 | 0 | 2 |
2016 | 1 | 0 | 1 |
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Herald Investment Management's Investments by Stage
Herald Investment Management has made 6 investments in Post IPO stage with an average round size of $7.38M, 3 investments in Series B stage with an average round size of $7.78M and 1 investment in PE stage with an average round size of $899K.Note: We have considered here, only first round of investments
Stage of entry | No. of Investments |
|---|---|
Post IPO | 6 |
Series B | 3 |
PE | 1 |
Series A | 1 |
Series C | 1 |
Others | 1 |
Herald Investment Management's Investments by Sector
Herald Investment Management has a diverse portfolio, with companies operating in the Enterprise Applications, High Tech, Enterprise Infrastructure, Business Services and Energy Tech. Notably, it has invested in 301 Enterprise (B2B) companies, 256 Tech companies, 159 Software companies and at least 110 companies focusing on Saas.
Note: We have considered here, only first round of investments
Sector | No. of Investments |
|---|---|
Enterprise Applications | 4 |
High Tech | 4 |
Enterprise Infrastructure | 3 |
Business Services | 2 |
Energy Tech | 2 |
Others | 10 |
Herald Investment Management's Investments by Geography
Herald Investment Management has made most investments in United Kingdom (6), followed by United States where it has made 5 investments.
Note: We have considered here, only first round of investments
Country | No. of Investments |
|---|---|
United Kingdom | 6 |
United States | 5 |
India | 1 |
Switzerland | 1 |
Herald Investment Management's recent investments
Filter this listHere are the most recent investments by Herald Investment Management:
Date | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 05, 2023 | India | Series E | $109M | Hero MotoCorp [+3] | |
May 18, 2022 | India | Series E | $50M | Caladium Investment [+4] | |
Jan 14, 2022 | India | Series E | $128M | Hero MotoCorp [+8] | |
Nov 25, 2019 | United States | Post IPO | $16.4M | Davispartnership [+2] | |
Sep 2018 | United Kingdom | Post IPO | $4.31M | - |
Get the detailed list of all investments by Herald Investment Management. Download now!IPOs and Publicly Listed companies in Herald Investment Management's Portfolio
Filter this listHere are Herald Investment Management's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 06, 2025 | Jan 14, 2022 | Series E | $128M | |
Sep 24, 2024 | - | - | - | |
Jan 27, 2022 | - | - | - | |
Sep 28, 2021 | - | - | - | |
Jul 22, 2021 | - | - | - |
Acquired companies in Herald Investment Management's Portfolio
Filter this listHere are Herald Investment Management's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 19, 2025 | Apr 14, 2016 | Post IPO | $3.6M | |
May 08, 2025 | - | - | - | |
Apr 23, 2025 | - | - | - | |
Feb 20, 2025 | - | - | - | |
Dec 20, 2024 | - | - | - |
Team profile of Herald Investment Management
Herald Investment Management has a team of 16 members including 6 Partners and 4 Principals located in United Kingdom and United States. Herald Investment Management's team does not sit on the board of any company as of now.Here is a list of top team members in Herald Investment Management:
Name | Designation | Location | Board Memberships | Contact details |
|---|---|---|---|---|
Partner | Miami | - | ||
Partner | London | - | ||
Partner | New York City | - | ||
Partner | United Kingdom | - | ||
Partner | London | - | - | |
Partner | - | - | - | |
Principal | London | - | ||
Principal | - | - | - | |
Principal | - | - | - | |
Principal | - | - | - | |
Associate | London | - |
Get the full list of Herald Investment Management's team & partners for free. Download now!Co-investors of Herald Investment Management
Over the past 21 years, 70 investors have co-invested in Herald Investment Management's portfolio companies.
- Invested before Herald Investment Management: Hero MotoCorp, Innoven Capital and 14 others have invested in rounds before Herald Investment Management. There are 1 company where Hero MotoCorp has invested before Herald Investment Management and 1 company where Innoven Capital has invested before Herald Investment Management.
- Top Co-investors of Herald Investment Management: 19 investors entered a company along with Herald Investment Management. These include investors like Caladium Investment (1 company).
- Invested after Herald Investment Management: A total of 35 investors have invested in Herald Investment Management's portfolio after their investments. Top Investors include Scottish Enterprise (2 companies), GIC (1 company) and Abhishek Venkatraman (1 company).
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