moreapigee enters definitive agreement to be acquired by googlelearn morewalmart acquires jet.comlearn more2016 norwest product summitachieving and maintaining product market fit.learn morethe rise of internet commercethe clarus commerce story.learn morehealth catalysttransforming healthcare data warehousing.about health catalyst we re in it for the long haulgreat businesses are not built overnight . we are patient investors dedicated to making our portfolio companies successful . leverage our network and expertise to make your next big idea a reality . meet the norwest team intersect entcase studylearn moreskybox imagingcase studylearn morefireeyecase studylearn moreclarus commercecase studylearn more our global investments view all how we helpwhether you are an early stage start up or a well known brand norwest can help . our investment teams offer a unique blend of tactical and strategic guidance for every chapter of your story . view portfolio serviceskeep up with the latest at norwest blognewsevents newswalmart is buying jet.com for 3 billion blogwhy 2016 will be the year online and offline retail converge newsnorwest portfolio companies named to forbes cloud100 list of the world s best cloud companies newsfour things every female leader should know about corporate boards blognorwest raises new 1.2 b fund to support its growing network of portfolio companies get to know kendrascott ceo workingmom philanthropist . https t.co 9jomwxis6j congrats seanduffy https t.co s03ct72zjm what entrepreneurs are saying promod haque and norwest venture partners provided exceptional support during a fairly long product gestation and initial market fit exercise during the early period of fireeye s business evolution . they showed fortitude as an investor and believed in the eventual opportunity to defend the world from advanced cyber attacks even when there were insufficient market proof points . i am grateful for their support in helping build fireeye into the global company it is today . ashar aziz founder vice chairman of the board and chief strategy officer fireeye norwest s ability to invest against the grain in an enterprise mobility company like mobileiron speaks to the firm s belief in its entrepreneurs and backing companies in new markets that aren t yet obvious . mobileiron is a great example of how norwest partners with companies to build great businesses . bob tinker president & ceo mobileiron as we built out our sales force across the united states and grew our sales over 3000 % from commercialization to ipo norwest s financing and guidance was critical to our success . their partnership was and remains key during our rapid commercial growth and scaling . we would not be where we are today without them . lisa earnhardt president and ceo intersect ent as a rapidly growing company udemy has benefited tremendously from the insights and experience of the norwest team . they offer us critical guidance that is helping us successfully scale our online learning and teaching marketplace around the world . dennis yang ceo udemy norwest has been championing our team since before day one . along with alagu i was an entrepreneur in residence with norwest . i know firsthand how the firm supports companies from idea to incubation to launch to growth and beyond . matt howard has been a tremendous part of this path for us at blue jeans and is available to us 24 7 . matt has brokered strategic relationships including those that have led directly to revenue . krish ramakrishnan co founder and ceo blue jeans network notable milestones60s70s80s90s00s10snowapril1961196119621963196519741976198219841986198619891989199219921992199319931994199519951996199619961997199819981998september2000200020002000200020012001november2002april2003may2003february2004february2004december2005january20052005april20062006september2008march2008august2008september2008november20092009november20092010april2010may2010november20102011june2011june2012june2012november2012january2013may2013june2013july2013september2013october2013october2013january2014february2014march2014march2014march2014april2014may2014june2014june2014july2014july2014august2014october2014december2014december20142015january2015march2015march2015april2015may2015may2015august2015august2015september2015december2015december2015january2016march2016march2016september2016september2016 northwest growth fund ngf is founded in minneapolis mn . ngf completed its first capital raise a private placement of 100 000 shares at 10 a share with a 200 000 contribution from northwest bancorporation . ngf makes its first investment in emc corp. a minnesota based publishing company . ngf raises another 1.3 million giving the fledgling firm a total of 2.5 million of capital . ngf invests 500 000 in an ice cream company international dairy queen idq . idq became a successful publicly traded company that would eventually allow ngf to sell its stake for an estimated 3.5 million ngf makes an early investment in national computer systems an optical reader company that is now a staple in virtually all standardized tests . cray research a pioneer in supercomputing is added to the ngf portfolio . ngf helps start network systems corp. a company that pioneered the development of high speed data transmission products that would be the backbone of the first high speed computer networks . ngf raises its second fund northwest venture partners a 60 million offering that included a 10 million contribution from northwest bancorporation . the firm transitions to the name norwest venture capital nvc . with the technology sector suffering from a downturn in the mid 1980s nvc turns to opportunities in the consumer sector with investments in athletic footwear company avia and children s clothing company gymboree . nvc s east coast presence takes shape with investments in bright horizons geltex pharmaceuticals raptor systems and videoserver . george still joins the firm and works out of its bellevue washington office . promod haque also joins nvc as a consultant in the firm s minneapolis office to assist with due diligence on technology investments . nvc later hires haque on a full time basis in 1990 . the firm launches norwest equity partners iv lp a 200 million fund . nvc is instrumental in the development and consolidation of the emerging specialized mobile radio smr communications business through investments in atlantic cellular onecomm and transit communications . peoplesoft one of the world s first client server software companies goes public . george still led the firm s investment in peoplesoft in 1989 and norwest was the sole venture investor . the investment helped drive the firm s software strategy for years to come . george still opens norwest s silicon valley office on sand hill road in menlo park ca . norwest continues its successful software streak with investments in and later exits from documentum vantive and xylan coporation . norwest completes a leveraged buyout of transaction systems architects tsa . tsa goes public in 1995 ; norwest would eventually realize 132 million on an investment of 8.6 million a multiple of 15.4 . the firm launches norwest equity partners v lp a 300 million fund . promod haque made his mark on such investments as tivoli systems which went public in 1995 and was acquired by ibm in 1996 and forte software which went public in 1996 and was acquired by sun microsystems in 1999 generating returns of 32.0 and 23.0 times the firm s initial investment respectively . george still and norwest associate darin brannan develop the initial business plan for verio which was incubated in the firm s west coast office in 1996 . at the time of verio s ipo in may 1998 at a 1.2 billion valuation verio had acquired 46 isps and was ultimately sold in 1999 to ntt docomo for 5.5 billion cash . promod haque leads a seminal investment in extreme networks . extreme was exceptionally successful and with the help of a white hot ipo market delivered returns to nvc of more than 700 million representing a multiple of 95.0 times its initial investment . the convergence of voice and data puts telecommunications at center stage with key nvc investments and exits . brooks fiber properties goes public in 1996 and is acquired by mci worldcom in 1998 for 3.4 billion . polycom results in a successful ipo in 1996 . brocade goes public in may of 1999 creating more than 313.5 million in returns for norwest a multiple of 46.0 times its original investment . norwest moves its headquarters to downtown palo alto ca where it remains today . norwest venture capital becomes norwest venture partners nvp with george still as managing general partner launching norwest venture partners vi nvp vi a 300 million fund . norwest raises a brand new 325 million fund just one year later norwest venture partners vii nvp vii after a series of significant venture exits . promod haque transitions into a managing general partner role and joins managing general partner george still in leading and expanding the firm . norwest backs michael hatfield co founder and early ceo of cerent investing 11.8 million . just 16 months later cisco systems acquires cerent for 7.2 billion . cerent delivers returns of nearly 1.5 billion to norwest representing a multiple of 125.0 times the firm s initial investment . norwest invests 3.5 million in siara systems . kleiner perkins and norwest later agree to merge siara systems with redback networks a 4.3 billion transaction that in 1999 created one of the most powerful suppliers in the communications industry . norwest s investment in siara systems resulted in a 104 times return for the firm . norwest makes a 7.2 million investment in broadband access systems a provider of highly integrated switching broadband access and telephony systems for cable companies and carriers . a year later adc telecommunications acquires broadband access systems for 2.2 billion . norwest raises an additional 300 million fund norwest venture partners viii nvp viii just two years after its previous fund had launched . virtela a virtual private network company is funded and co founded by general partner vab goel . norwest s investment in quantum effect devices qed an embedded microprocessor company results in a successful ipo . norwest eventually realizes 122 million on its investment of 5.2 million in qed a multiple of 23.5 . israel based accord networks a voice and video company goes public and is later sold to polycom for 339 million . norwest s consistent returns over the previous decade helped the firm launch its largest fund to date in 2001 norwest venture partners ix nvp ix a 411 million fund . saas emerges as a formidable infrastructure sector with norwest s investments in cast iron systems and amberpoint . both companies would ultimately be acquired by tech giants ibm and oracle respectively . norwest s matt howard makes a significant investment in a wireless local area networking wlan systems pioneer called airespace . winphoria networks a mobile data networking company is sold to motorola for 179 million . norwest s vab goel incubates austin based kmv technologies which would later be called lifesize communications a pioneer in videoconferencing technology . norwest portfolio company spinnaker networks the pittsburgh based seller of network attached storage servers is acquired by network appliance inc. for 300 million . promod haque ranks 1 on the 2004 forbes midas list as a top dealmaker . norwest makes its first investment in india a growth equity investment in persistent systems a leading offshore product development company based in pune . the company would later go public on the bombay stock exchange and the national stock exchange of india . local area networking wlan systems provider airespace is acquired by cisco systems for 450 million . norwest notches additional big exits with arbortext authentica corio open silicon shoretel sidestep skystream veraz networks and website pros . the firm raises norwest venture partners x nvp x a 650 million fund . in an effort to diversify and invest across multiple stages and sectors in india norwest establishes a day to day presence in the country via its nvp india advisory subsidiary in mumbai led by niren shah and sohil chand . norwest expands further establishing an advisory subsidiary in herzliya israel led by dror nahumi . norwest adds a second indian subsidiary in bengaluru led by mohan kumar . norwest benefits from rackspace s successful initial public offering as the largest venture investor in the company . rackspace is one of the largest and only technology ipos occurring this year . qumranet an enterprise software company offering a virtual infrastructure platform is acquired by red hat . norwest portfolio company lifesize communications is sold to logitech for 405 million . norwest brings on jon kossow to focus more aggressively on growth equity opportunities and build out norwest