F-Prime Selects Standard Metrics

At F-Prime, a leading global venture firm investing in transformative healthcare and technology, access to accurate and timely portfolio data is essential. With over 370 companies in its portfolio, having a centralized and reliable data source is crucial.

By eliminating manual workflows, automatically structuring key data, and contextualizing themes with global benchmarking, Standard Metrics will equip F-Prime’s investment and finance teams with a centralized “source of truth” for portfolio metrics. This will enable them to confidently manage their data while focusing on what matters most: identifying new opportunities and driving due diligence.

Andrew Bognanni, Director of Finance, shares, “Our goal is to seamlessly track key investment data across our portfolio and funds to improve internal and external collaboration, increasing our proactive support to all partners.” 

With Standard Metrics, F-Prime aims to elevate its data collection and benchmarking capabilities while setting a new standard for operational efficiency and reporting in venture capital.

We’re excited to announce our strategic partnership and integration with Derivatas, a leading provider of venture capital valuation software and services. This partnership aligns with our goal of providing a comprehensive system of record and analysis platform for venture capital firms.

Why We Built This Integration

Maintaining accurate, up-to-date portfolio company valuations is a ubiquitous hurdle in the private markets. Collecting the critical underlying financial metrics (revenue, EBITDA, burn, etc.) from portfolio companies is time-consuming, collating those KPIs with investment-level data is manual, and having to maintain up-to-date information across disparate providers is unproductive.

With Standard Metrics and Derivatas partnering together, firms can automate their valuation workflows, more effortlessly maintain a source of truth, and trust that their valuation data is error-free.

How it Works

With the click of a button, portfolio company metrics, fund information, and relevant documents from Standard Metrics will sync with Derivatas’ valuation module, ensuring accurate valuations with minimal manual effort.

This integration delivers several key advantages for our shared venture capital customers:

1. Time Savings: eliminate manual data entry and reduce the time spent on quarterly valuation processes
2. Worry-free reporting: automated data synchronization minimizes the risk of data entry errors
3. Enhanced Analysis: enable more timely and accurate portfolio performance analysis for GPs/LPs

Looking Ahead

This partnership represents our commitment to providing venture capital firms with the most comprehensive and efficient tools for portfolio management. By combining Standard Metrics’ powerful portfolio monitoring capabilities with Derivatas’ expertise in valuations, we’re turning the traditionally onerous quarterly valuation process into a stress-free, streamlined experience for mutual customers.

Contact success@standardmetrics.io or inquiries@derivatas.com to learn how this integration can streamline operations for your firm today.

Lux Capital is a venture capital firm based in New York City and Silicon Valley with $5+ billion AUM, investing in emerging science and technology companies at the outermost edges of what’s possible.

The Lux portfolio includes category-leaders such as Anduril, Runway, Eikon Therapeutics, Hugging Face, and Databricks. Today the firm has more than 30 full-time professionals with a wide spectrum of technical backgrounds and over 200+ portfolio companies.

The Lux team sought a solution that would help offer a user friendly, customizable and interoperable solution for their front, middle, and back office teams.

“We’re thrilled to partner with Standard Metrics to streamline our portfolio monitoring process,” said Segolene Scarborough, Chief Financial Officer at Lux Capital. “After extensive platform demos, what stood out was their remarkable flexibility and robust feature set. Their hands-on customer support, combined with the platform’s ability to automate data collection, will significantly reduce the administrative burden on our portfolio companies while enhancing our internal monitoring capabilities.”

With the Standard Metrics platform, Lux Capital’s portfolio companies will be able to save time by replacing their current manual reporting process while offering new benchmarking insights and a source of truth when it comes to company performance.

Once implemented, the Lux Capital team will leverage Standard Metrics as their source of truth for KPIs and investment data, and to streamline their audit, LP reporting, and portfolio reviews.

“The optimism and technology-forward approach that Lux Capital brings to its investments is inspiring” said John Melas-Kyriazi, co-founder and CEO of Standard Metrics. “We’re honored to support Lux and their portfolio companies as they push the envelope of what’s possible and work to create a better future for all of us.”

About Lux Capital

Lux Capital is a venture capital firm investing in emerging science and technology at the outermost edges of what is possible. They partner with iconoclastic inventors who challenge the status quo and the laws of nature to bring their futuristic ideas to life. Over the past two decades, Lux has expanded from its New York City roots to Silicon Valley, and built a $5+ billion AUM firm of more than 30 full-time professionals, with a wide spectrum of technical backgrounds and the versatility to invest at any stage.

About Standard Metrics

Standard Metrics provides a collaboration platform for investors and their portfolio companies. VC firms such as General Catalyst, Salesforce Ventures, and Bessemer Venture Partners use Standard Metrics to collect financial and operational metrics from their portfolio companies. Data collection and structuring is automated. Standardized, auditable metrics are delivered to VC back office teams for easy analysis. On the company side of the platform, startup teams save time by structuring updates once and pushing them to multiple investors.

For Data Collective Venture Capital (“DCVC”), a firm that invests in technology sectors such as AI, robotics, and computational biology to address complex global challenges, having access to accurate and up-to-date investment data is crucial.

By eliminating manual workflows, reducing data entry pain points, and simplifying the migration of outdated contacts from a legacy tool, Standard Metrics has provided DCVC’s investment and finance teams with a centralized “source of truth” for portfolio metrics. This empowers them to confidently manage their data, saving time for what matters most: sourcing new opportunities and driving diligence work.

With Standard Metrics, DCVC is ready to collect data and benchmark portfolio company performance effortlessly, setting a new standard for how venture capital firms operate and report.

When we founded Standard Metrics in 2020, we set out to transform financial reporting for private investment firms and their portfolio companies. Over the past four years, we’ve brought on more than 100 investors as customers, including industry luminaries like General Catalyst, Salesforce Ventures, and Bessemer Venture Partners. Along the way, we’ve helped them to collaborate with more than 9,000 of their portfolio companies in a multitude of sectors, stages, and geographies.

The rapid growth of our user network is a testament to the trust and support of our community, along with a deep need that exists for tooling to fix broken investor relations. It’s a thrill to be building a product that supports so many firms and companies we admire.

We’ve reached a significant milestone in our journey, and we’re ready to unveil a new product that aligns with our mission to accelerate innovation in the private markets. One of our core goals has always been to develop unique products that leverage the data on our platform for the benefit of the community. With our network now at a meaningful scale, I’m delighted to announce the launch of our first data product: Global Benchmarking.

Global Benchmarking is a powerful new tool designed to give our users a deeper understanding of private company financial performance placed into current market context. We leverage aggregated and anonymized financial data from our platform to deliver timely and relevant market insights to our users. With benchmarks covering key metrics such as revenue growth rates, burn per FTE, and more, our users can gain valuable insights into their performance. For example, what’s the top quartile revenue growth rate right now for SaaS companies between $1-5M in annualized revenue? We can answer that question.

We have a strong perspective that companies need to control and benefit from how their data is used. Companies on Standard Metrics are notified about benchmarking during sign-up, and they can opt out of their data being used at any time in their settings page. Our experience so far is that the overwhelming majority of companies are excited to participate and receive quarterly scorecards to help them assess performance and inform future planning.

For our company-side users, Global Benchmarking insights are available for free. For investment firms, users can access a variety of benchmarking workflows as a paid add-on to their core subscription.

We launched Global Benchmarking quietly several months ago, and we are already seeing incredible early customer feedback. “Global Benchmarking brings powerful signal and context to what were previously individual analyses. By combining the right metrics with the right peer groups, Standard Metrics has reset the bar on creating a single source of truth, for both investors and portfolio companies,” said Joe Lonsdale, Managing Partner at 8VC.

Startups are finding Global Benchmarking indispensable for their financial planning and ongoing updates to their forecasts. “At Pave, we deeply believe in using benchmarks to make tough decisions with confidence. This is why we’re thrilled to have access to Standard Metrics’ benchmarks to ensure we’re optimizing for the right degrees of innovation vs. financial balance. Having trustworthy data is is vital” said Matt Schulman, founder and CEO of Pave.

We’re doubling down on Global Benchmarking, and we’re excited to roll out additional features and refinements in the coming months. You can expect deeper and more integrated workflows, a higher degree of configurability, and narrower and more powerful benchmarking categories as our data set grows and we unlock additional insights for our users.

If you’re an investment firm interested in exploring how Global Benchmarking can enhance your investment strategies, we would love to hear from you. For companies keen to take advantage of these new benchmarks, make sure to encourage your VC to connect with us. You’ll get the product for free once they buy it.

Thank you for being a part of our journey at Standard Metrics. You can find more details about Global Benchmarking here or by contacting our team below.

GreatPoint Ventures (“GPV”), founded in 2015, partners with entrepreneurs and management teams to build innovative businesses.

In order to provide the best guidance to its 60+ companies both the investment and operations teams spent valuable time emailing CEOs for metrics, searching through financial documents, and managing multiple versions of spreadsheets.

As its portfolio scaled, GreatPoint wanted to increase operational efficiency in order to maximize time available to support portfolio companies.

“We want to automate administrative work, and enable our investment team to stay focused on sourcing and closing deals and working with our portfolio companies. We additionally want our back office team to be able to quickly pull insights from our portfolio companies’ reporting” said Ashley Sommerschield, GreatPoint Ventures’ COO.

After careful consideration, GreatPoint selected Standard Metrics to automate the collection, analysis and reporting of portfolio data.

GreatPoint now expects to collect more meaningful data, faster. 

Bessemer Venture Partners selects Standard Metrics as its centralized platform for portfolio data

Bessemer Venture Partners backs entrepreneurs from the earliest stages, through IPO and beyond. In the last 50 years, the firm has been part of 145 IPOs. Its portfolio has included household names such as Pinterest, Shopify, Twilio, Yelp, and LinkedIn. Today the firm has 23 investing partners and 300 portfolio companies globally.

The Bessemer team sought a solution that would help improve operational efficiency by automating data collection and structuring, while also simplifying data sharing for its portfolio companies.

“Standard Metrics’ SaaS solution has the ability to create a network effect that will reduce the burden on our portfolio companies who are structuring data across multiple investor requests. This is something that stood out to us about the platform,” said Augie Wilkinson, Director of Portfolio Monitoring and Analysis at Bessemer.

With the Standard Metrics platform, Bessemer’s portfolio companies will be able to structure updates once and push them to multiple investors.

Once implemented, the Bessemer team will leverage centralized, comparable portfolio data to deliver strategic insights that up the alpha in their existing investments.

“We are absolutely thrilled to be supporting Bessemer Venture Partners,” said John Melas-Kyriazi, co-founder and CEO of Standard Metrics. “We have always admired the way that Bessemer gives back to the technology community by sharing their investment insights and industry knowledge. We’re proud to become their source of truth for portfolio data.”

About Bessemer Venture Partners 

Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has $20 billion of assets under management. 

About Standard Metrics

Standard Metrics provides a collaboration platform for investors and their portfolio companies. VC firms such as General Catalyst, Salesforce Ventures, March Capital, and 8VC use Standard Metrics to collect financial and operational metrics from their portfolio companies. Data collection and structuring is automated. Standardized, auditable metrics are delivered to VC back office teams for easy analysis. On the company side of the platform, startup teams save time by structuring updates once and pushing them to multiple investors.

Our mission at Standard Metrics is to facilitate better data sharing and collaboration between stakeholders in the private capital markets. As this industry grows in sophistication and size, investment firms are increasingly building their own proprietary software and running analytics tools on top of data warehouses, just like the companies they invest in. We are excited to announce the launch of our API as we sprint toward a future of interoperable software and better data tools in the private markets.

Why build an API?

The private capital markets are rapidly becoming more globally competitive. Among other things, firms are adapting to competition by adopting multiple technology tools, utilizing their data to drive critical decisions. The search for best in class solutions across their stack is also creating tool sprawl and data siloes between those tools. As operational complexities increase, customers will stop adopting tools that cannot integrate into existing workflows. Software providers will need to adapt and enable connectivity to other systems. After all, the goal is to make the lives of customers easier, not harder.

At Standard Metrics, we do not want to be a walled garden, but instead a tool that can integrate with complementary technologies in the private markets ecosystem. In that spirit, we have been working with our most tech-forward customers to better understand how they use Standard Metrics data in other systems and offer them a better experience. These customer conversations led to us developing and launching our API.

What’s changed for our customers?

Previously, customers had been exporting data from our platform in a CSV format to then upload into various other tools. Now, firms can seamlessly integrate Standard Metrics data into their other systems and access metrics anywhere, whenever they need them, removing yet another recurring manual task and enabling greater accessibility to real-time data.

We already have customers pulling data from the Standard Metrics API into data warehouses like Snowflake for analysis as well as into proprietary in-house software systems. It’s exciting for us to watch new use cases unfold.

Next steps in our journey

Our work isn’t done here. We’re continuously working on enabling more real-time data sharing, no matter what systems are in place. Soon, firms will be able to automatically pull investment data from Standard Metrics to power valuation and fund performance analysis. Stay tuned for many more initiatives around our API and direct integrations.

We’d love to hear your feedback. If you’re an investor looking to improve your portfolio management and collaboration processes, contact us today to learn more about how you can benefit from using Standard Metrics.

A little over two years ago, we started our journey to fix the broken data sharing process between investors and founders. During that time, we’ve helped dozens of venture firms and over a thousand portfolio companies seamlessly share monthly and quarterly metrics.

We’ve always leaned into product more than marketing, but as we scale our business, we’re starting to share what we’re building with the world. To accurately represent the problems we solve today, we have revamped our website, and we’re excited to share a couple of highlights with you today.

A detailed breakdown of the solutions we offer to investors and startups

We started in 2020 with metrics collection and nothing else. Since then, we have come a long way in solving critical problems for both investors and startups. Today, our dual-sided portfolio management and collaboration platform supports leading investors such as NFX and Foundation Capital, as well as some of the fastest growing startups in the world like Affinity and Stytch, to centralize, analyze, and share data with their key stakeholders. Our new website highlights many of the key features we’ve built for both sides of the ecosystem.

Customer stories

See how investors such as 8VC and Pantera Capital are using Standard Metrics to optimize their data collection and portfolio collaboration processes. Soon, we will share stories from our startup customers as well on how they are leveraging the platform to streamline investor relations and maximize stakeholder collaboration.

Blog

We’re in the process of moving our Substack blog to our website, centralizing it alongside everything else, so you can access our content more easily. Check out our posts like “RIP Portfolio Monitoring” or “The Rise of the Data Driven Investor.”

Board decks

Our board deck resources are not new, but we want to highlight them here nonetheless. Our goal is to solve information asymmetry for both investors and founders, and board meetings are an obvious mismatch of knowledge and experience. Here are some best practices from world-class investors such as David Sacks and Joe Lonsdale for founders to effectively run board meetings.

We’d love to hear your feedback. If you’re an investor looking to improve your portfolio management and collaboration processes, or a founder looking to streamline investor relations, contact us today to learn more about how you can benefit from using Standard Metrics.

Data security has been a core value to us from day one, especially in our industry where venture capital firms and portfolio companies collect and share extremely sensitive and confidential data on a daily basis. That’s why we are extremely happy to announce that Standard Metrics is now SOC 2 Type II compliant!

What is SOC 2 Type II?

Governed by the American Institute of Certified Public Accountants (AICPA), “System and Organization Controls” (SOC) is a framework to ensure a business is exercising best practices for maintaining data security. To obtain SOC 2 certification, a business must be audited by a third party (Coalfire Controls in our case) and prove that it has robust controls and processes that comply with SOC 2’s five “trust service principles”: security, availability, processing integrity, confidentiality, and privacy.

While Type I reports focus on a point in time, SOC 2 Type II reports evaluate a period of time to ensure that the systems are actually operationally effective and not just theoretically sound. We recently got our first Type II report to cover the audit period from Jan 16th to Apr 15th, 2022. Moving forward, we aim to renew our Type II report every year.

What does this mean for our clients?

We have always put confidentiality and security at the center of everything we do. From your perspective, nothing will change on the platform. Only now, you can comfortably know that our security is aligned with industry standards and best practices, as verified by an independent firm. As your firm expands, Standard Metrics will continue to be a trusted enterprise partner to support your portfolio monitoring operations.