While our companies are all about scale, our own operation is more of a boutique. Consciously focused on helping our companies, we are a small partnership and avoid raising large funds. With an average of one deal per year per partner, we believe we’re positioned to be entrepreneurs’ closest partners.
Global Category Leaders
Marqeta started as a B2C payments platform in 2010. The first years were tough. But the company pivoted to a B2B strategy, creating and leading the multibillion-dollar category of Modern Cards Issuing. Marqeta raised its last round in 2020 at a 4.3B$ valuation.
From the first meeting with Renen, when he had only a few slides, we were impressed by his vision and plan to innovate and change a 30 years old storage industry. We have been close partners ever since. Vastdata raised its last round in 2020 at over $1B valuation.
Celonis was founded by Alex, Bastian and Martin, and spun out of TUM in 2011. It was bootstrapped until we co-led the Series A in 2016. The company has gone on to become the category leader in big data process mining. Celonis raised its last round in 2019 at a $2.5B valuation.
We met Carsten in 2007, invested personally in Hybris and joined the Board. Later, 83North invested. SAP acquired the company in 2013 for over $1.5B, by which time Hybris was one of the dominant ecommerce s/w vendors in the world.
We invested in Just Eat in 2011, in the early days of online food delivery, when the company’s revenue was less than £20m. Just Eat grew to be the market leader in Europe and Brazil, and IPO’d on the LSE in 2014, at revenue run rate of over £100m and valuation of £1.5B, which grew to over £5B.
Ebury is one of the market leaders providing financial solutions to SMEs to simplify international trade. We led the Series A when there were offices in 2 cities. Ebury now operates in 20 countries and Santander acquired 50% of the business at approx 1B$ valuation in 2020, to help further accelerate its growth.
We build long-term relationships
Nati Davidi and Uri Alter
Co-Founders of Vdoo
We know Uri and Nati since 2011. They founded Cyvera and grew the company all the way to its acquisition by Palo Alto Networks. Uri and Nati chose to work with us again when they founded VDOO. They are part of 83North’s extended family. This partnership goes far beyond financial investment. Uri and Nati help us assess new opportunities, invest with us and formed personal friendships with us.
Partner at Zobito
We met Måns in 2003 when he was CEO of Qliktech. He was CEO 2000–2007, and Chairman between 2004–2009, the years that defined QlikTech’s strategy and momentum, leading to a very successful IPO in 2010. During Måns´ tenure as CEO, QlikTech’s sales grew from $2M to $153M. Later Måns co-invested with us and sat on the Board of Hybris. Today Måns is a partner at Zobito, investing in and advising tech companies.
Co-CEO of Ebury and Venture Partner at 83North
We have known Juan since the early days of Ebury, where he is co-founder and co-CEO. Ebury is one of Europe fastest growing fintechs with revenues in excess of $100M. Ebury is now 50% owned by Santander (sold for approx. $1B valuation). Prior to Ebury Juan was CEO of Beam.ty (a digital distribution network sold to Carlyle private equity). Juan was also a consultant with Mckinsey & Co. in London. Juan is angel investor in over a dozen tech companies across UK, Europe and the US. He is also a venture partner with 83North, specifically helping & co-investing in fintech related companies
We have known Boaz for over 20 years, from his first senior position in the storage industry. In 2011 we teamed up with Boaz as his core investors at ScaleIO and served on the board of the company until it was acquired by EMC in 2014.
We recently teamed up again as core investors in his new company.
7. Issy Ben Shaul
CEO of Velostrata
Velostrata was the third time we served on the board of a company founded by Issy. All three were acquired, Actona by Cisco Systems, Wanova by VMware and Velostrata by Google. We are looking forward to his next one.
Former CEO of Just Eat and Venture Partner at 83North
David was the CEO of JustEat, where 83North was an early investor. Through operational excellence and a series of global acquisitions, he consolidated its market leadership and took it public into what is now a 7B$ market cap leader in food delivery. After leaving Just Eat David joined 83North as a Venture Partner.
Managing Partner, Grove Ventures
Dov is one of Israel’s most famous entrepreneurs. He invented the USB drive and sold his company Msystems for 1.6B$ in 2006. Our relationship with him started in 2001 during that ride. Dov is now the managing partner of Grove, an early stage VC firm, and we invest and look at deals together. We also meet for coffee at the same cafe for many years where we tell each other the same jokes for almost 20 years.
"As a sophisticated European founder working with 83North is like wearing a beautiful non show-off watch: it is proven, reliable, guides you through good and bad times and you don't get any of the bullshit that you get from VCs who think they are the stars"
“Boards could be a complete waste of time, or a source of inspiration - all depends on the people around the table. Best advice to entrepreneurs - choose your investors well...make your own DD....”
“We were looking for a founder friendly VC with a strong team, based in Europe, with strong experience and many significant exits in software. 83North stood clearly apart”
“Deep tech companies require leadership that can balance business strategies with technology vision, I find both in 83North”
“Contrary to most VCs, 83North didn’t make big promises. Contrary to most VCs, 83North delivered big. We found we could lean on their experience and pattern recognition, and that they’re great people. A lot of VCs waste your time. 83North doesn’t.”
“83North was intrigued and excited about our vision to revolutionize payments for mobile devices. We all knew this would be a long and hard road, but they supported us at every step.”