SOURCE: Bessemer Venture Partners
MENLO PARK, CA and LARCHMONT, NY--(Marketwired - Sep 5, 2013) - Bessemer Venture Partners (BVP), a $4 billion global firm backing great entrepreneurs leading transformative hyper-growth companies, today announced Peter Lee's promotion to vice president. In this role, Peter will continue working closely with BVP's investing partners to identify entrepreneurial opportunities in start-ups aligned with cloud computing, Internet and mobile roadmaps.
Peter, based in BVP's Menlo Park Office, joined the firm in 2011. He is focused on investments in the cloud computing, Internet and mobile sectors and has been closely involved with Bessemer's investments in Adaptive Planning, Bizo, Box, ClearSlide, DocuSign, Involver (acq. Oracle), SendGrid, Simply Measured and Twilio. Peter serves as a board observer for Bizo, SendGrid, Simply Measured and Twilio.
"I've worked closely with Peter on a number of deals. His broad experience as a founder, executive and engineer brings a powerful mix of domain knowledge and empathy to entrepreneurial discussions," said Byron Deeter, partner at Bessemer Venture Partners. "The fact that this high IQ package comes in a low-bravado style makes Peter a perfect fit for BVP's culture and a fun person to work with."
Prior to joining BVP, Peter was a director of product management at Salesforce.com, leading teams for the core CRM suite and platform. He also led the first team in building Chatter, Salesforce's social enterprise platform. Prior to Salesforce, Peter co-founded Coventi Pages, a SaaS Web application for document authoring and review, acquired by Fog Creek Software in 2008. Peter started his career as a software engineer at ALK Technologies, building GPS navigation software for businesses and end consumers. Peter graduated from Princeton University with a B.A. in economics and computer science. He also holds an M.S. in computer science from Stanford University. Follow Peter on Twitter here: @peterinlee
Following a noteworthy 2012 that included five IPOs, BVP has continued its successful performance in 2013 with two sizable M&A deals to date. BVP's portfolio company Intucell was acquired by Cisco for $475 million in January, while portfolio company Eloqua was acquired by Oracle for $1 billion after going public in 2011. BVP has announced seven new investments so far this year, including cloud companies Adaptive Planning and Instructure. Drawing on its expertise in cloud investments, BVP recently released the Cloud Index, a comprehensive and dynamic market index that tracks the weekly market fluctuations of the top 30 public cloud companies. BVP has invested in several companies featured on the Cloud Index and which are now public, including LinkedIn, Cornerstone, LifeLock, Qualys and Broadsoft.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) works closely with entrepreneurs to build the companies of the future. BVP's deep experience and cooperative spirit have supported the early growth and business building of many of today's most innovative companies including Yelp, LinkedIn, Pinterest, Box, Twilio and Cornerstone OnDemand. More than 100 BVP-funded companies have gone public, and in 2012 alone, BVP celebrated five IPO's, numerous M&A exits, and 20 new investments. With $4 billion under management, BVP is a global firm with investments ranging from $100,000 angel investments to $50 million hyper-growth deals, in 15 countries from offices in Silicon Valley, Cambridge, New York, Brazil, Mumbai, Bangalore and Herzliya. @BessemerVP