Experienced investors and operators focused on the unique needs of SaaS companies at the elbow.
Who We Are
We launched Ankona in 2018 to build a different kind of firm based on lessons learned from decades of experience as software investors and operators. We think there's room for a new approach. Later stage venture firms have lost the narrative in their quest for unicorns, and most growth equity firms have gotten too big to be aligned with the interests of founders and the needs of companies "at the elbow". And too few investors provide the kind of empathetic operational support that CEOs really need to overcome the obstacles every SaaS company faces moving from startup to scale.
There are many paths to success in software, but all share common threads. We know what success looks like, and we are really good at building true partnerships with CEOs to help their companies reach their fullest potential. We understand the journey because we've been there ourselves.
We respect the work that it takes to identify an unmet need and fill it with a product that customers love. We understand that the evolution from product development to sales and marketing presents new challenges. We know that a company’s path to success is often non-linear and that bumps in the road are the rule, not the exception. And we know that not all companies need to raise massive financing rounds to “go big or go home”.
We started our careers in software and still love it. We continue to believe in the power of software to transform industries and know that we are in the early innings of the transition to SaaS. We chose to focus on companies “at the elbow” because this is where the operational foundation is set and where we can have the most impact. To us, it's the most exciting time in a company's development - full of both challenges and opportunities.
Our goal is to build a firm known for reliably building SaaS companies from startup to scale and to be the top choice for CEOs based on our reputation for being good partners, our sector and stage knowledge, and our track record of improving operations and driving outcomes.
We invest in SaaS companies that are past early VC risk, poised for growth, and positioned to succeed.
What We Invest In
Ankona invests $5-$15M into B2B SaaS and software enabled services companies generating between $5-$15M in recurring revenues where we see a clear path to $40M+ in revenues and profitable operations within 3-5 years. We look for companies that are:
Past Early VC Risk - companies with proven product/market fit with a solution that solves a critical pain point with evidence of strong customer utilization, satisfaction, and ROI.
Poised for Growth - attractive SaaS metrics validating an investment in growth, a large (enough) addressable market, and a realistic, capital-efficient path to scale.
Positioned to Succeed - capable CEOs who can sell, recruit and retain top talent, and who are both hungry to win and happy for help.