First Exit for Menlo Talent Fund: Parse

Soon after joining Menlo Ventures, I saw the founders of Parse take the stage at YC Demo Day. Almost immediately it was obvious there was something very special about the founders. They fully owned their vision and clearly communicated it. They already had traction with developers and they were perfectly timed for the burgeoning mobile world. When Tikhon and Ilya came to our offices to present their vision, it further confirmed that first impression. Their talent was just that obvious.

Coincidentally, we had just launched the Menlo Talent Fund, ushering in the first seed investment allocation for Menlo. We chose the word Talent for a good reason. Talent is the greatest asset class. We committed $20m of our $400m Menlo 11 Fund for early stage seed investments and launched it in September 2011. In 20 months, Menlo Talent Fund has done more than 35 seed investments.

Parse is our very first exit from this young crop of companies. The sale to Facebook is a life-changing event for the founders and team. For Menlo, it’s a healthy return in a short time horizon. We want to congratulate Parse and the team on this milestone in their journeys as entrepreneurs. We are excited about how much good Parse can do for the world within the Facebook family.

Finally, we are excited to continue to invest in amazing early teams like Parse.