|Type||Limited liability company|
|Headquarters||San Francisco, California, United States|
|Matt Cohler, General Partner|
Peter Fenton, General Partner
Bill Gurley, General Partner
Mitch Lasky, General Partner
Eric Vishria, General Partner
Chetan Puttagunta, General Partner
Sarah Tavel, General Partner
The firm's most successful investment was a 1997 investment of $6.7 million in eBay for 22.1% of the company. In 2011, it invested $12 million for an 11% stake in Uber, worth $7 billion in 2019.
The firm's most infamous investment was in WeWork, the troubled office rental social networking company. On April 1, 2012, Benchmark became WeWork's first major investor when it led WeWork’s $17 million Series-A seed funding.
Companies funded by the firm include Dropbox, Twitter, Uber, Snapchat, Instagram, Discord, Domo, New Relic, Nextdoor, Stitch Fix, WeWork, Yelp, Zendesk, Zillow and Zipcar.
Benchmark is noted for creating the first equal ownership and compensation structure for its partners. The "maverick" firm differs from most VC firms, which are named for their founders and are structured hierarchically; Benchmark is "a lean operation in which its six full-time partners share profits equally." There is no differentiation between its "junior partners" and "senior partners," as each partner benefits equally from company profits. In addition, there is no CEO-like position held.
The firm announced in May 2012 it would be expanding beyond its Menlo Park, California headquarters by opening a second headquarters with more than 10,000 square feet in San Francisco’s emerging tech corridor, the Mid-Market neighborhood.
Benchmark has invested in more than 250 startups since its inception in 1995, including:
- CTERA Networks
- Cerebras Systems
- Cockroach Labs
- Juniper Networks
- Marin Software
- Modern Treasury
- New Relic
- Palm, Inc.
- Seeking Alpha
- Snapchat - In February 2013, Snapchat confirmed a $13.5 million Series A round of funding led by Benchmark Capital, which valued the company at between $60 million and $70 million. Beyond the two founders, the two biggest shareholders for the planned early 2017 Snap IPO were Benchmark and Lightspeed Venture Partners, both prior Snap investors and venture-capital firms from Silicon Valley. They held a combined stake of about 20%.
- Stitch Fix
- Tellme Networks
- Yelp, Inc.
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- "CouchSurfing Raises $7.6 Million in Series A From Benchmark Capital and Omidyar Network to Expand Services and Fuel Growth in Cultural Exchange Network" (Press release). PR Newswire. 25 August 2011.
- Culter, Kim-Mai (September 18, 2013). "Cyanogen Mod Raises $7M To Find A Direct-To-Consumer Route For Android Firmware". TechCrunch.
- Perez, Sarah (November 6, 2019). "Stealth fintech startup Digits raises $10.5 million Series A from Benchmark and others". TechCrunch.
- Lawler, Ryan (22 September 2014). "Two-Factor Authentication Startup Duo Security Raises $12 Million From Benchmark". TechCrunch.
- Lacy, Sarah (July 13, 2011). "Series A Whopper: Benchmark Invests $33M in New BI Company Domo". TechCrunch.
- Alex, Williams (January 21, 2014). "Docker Raises $15M For Its Open-Source Platform That Helps Developers Build Apps In The Cloud". TechCrunch.
- Gage, Deborah (28 May 2014). "HackerOne Emerges With $9 Million to Root Out Software Bugs". The Wall Street Journal.
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- "This Startup Wants to Be the OpenTable for Urgent Care". Fortune. April 19, 2017.
- Kucera, Danielle (October 17, 2013). "Stitch Fix Nabs $12 Million From Benchmark to Customize Commerce".
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