$36M financing and addition of Sway Ventures founding general partner Bill Malloy to the board allow the IT network visibility software platform to focus on global growth and expansion.
SAN FRANCISCO, March 21, 2016 — Sway Ventures (formerly AITV), a US-based venture capital firm that invests in early-stage and medium-growth software companies, confirms its follow-on investment into LiveAction’s recent $36M Series B financing, alongside Insight Venture Partners and Cisco Investments. As part of the investment, Sway Ventures founding general partner, Bill Malloy, joins the LiveAction board as an observer, alongside already presiding board member and Sway Ventures founding general partner, Brian Nugent. The funding proceeds will allow LiveAction to focus on expanding operations globally and accelerate feature product development, further establishing the company as the visibility software standard for the Forbes Global 2000.
“Our follow-on capital into LiveAction not only reaffirms our commitment to the software defined network, but also to the leadership of Darren Kimura and the team he’s assembled,” stated founding general partner at Sway Ventures, Bill Malloy. “Insight Venture Partners have helped build successful infrastructure software companies including SolarWinds, Veeam, and Quest Software, and we are looking forward to accelerating our growth via this partnership,” said Michael Triplett of Insight Ventures.
Initially developed to aid the U.S. Department of Defense in the operation of its networks, LiveAction features an innovative visual display, real-time big data analytics for decision-making and deep integration with routers and switches for unparalleled network control.
“In 2014, we completed our Series A round, led by Sway Ventures and Cisco, and invested those proceeds to build a powerful visibility platform used by many of the biggest companies in energy, finance, retail and healthcare. Closing our Series B financing enables us to globalize LiveAction,” said Darren T. Kimura, CEO and chairman of LiveAction.
“The underlying story (the follow-on capital investment from Cisco) is really a microcosm for what’s happening within the corporate venture capital market. With the speed at which disruption now occurs, large corporates are embracing innovation like never before. There’s been a shift towards an offense-is-the-best-defense approach when it comes to avoiding marginalization while simultaneously driving growth,” said Bill Malloy.
In fact the data supports the claim of a robust and active corporate venture capital market. Despite ending on a weak note, 2015 marked new highs for CVC, with investors participating in $28.4B of funding across 1301 deals, beating 2014’s record CVC numbers, according to venture capital research shop, CB Insights.
About Sway Ventures
Sway Ventures is a US-based venture capital firm investing in early to mid stage technology companies. We invest in high performing teams, building revolutionary technology, creating the next enterprise or consumer category. With a focus on strategic capitalization, business development support, and engineered exits, we provide great teams with the support they need to change the future.
About Bill Malloy
Bill Malloy is an innovative financier and technologist with a record of successfully investing in inefficient markets. Bill is the co-founder and General Partner at Sway Ventures, where he is focused on IT software investing, hands-on operational support, and building the strategic ecosystem between the US and EMEA. Bill gained his venture capital experience at DFJ – Zone Ventures by working with companies on elements of strategy, operational issues and financial structuring. He also devoted significant time to potential new investments between Silicon Valley and Southern California. His background in business development and product management includes five years of service to Listen.com (sold to Real Networks, a $1.3 billion company) and MusicMatch (sold to Yahoo, a $38 billion company). His responsibilities focused on strategy and go-to-market plans for new product development. He currently holds board positions in a number of portfolio companies including Penrose, LE TOTE, HyTrust, LiveAction, Zanbato, and Addepar. Bill balances a number of philanthropic positions, currently serving as trustee of the Malloy Foundation as well as Co-Founder of the PEERS Network. He previously served as a board member and treasurer for the Equinox Center. He holds a MBA from the University of Southern California and an undergraduate degree in Engineering from Clemson University.