In News, Portfolio

Mighty Capital turns contrarian view that best product wins into reality with 3 recent public offerings paving way for The Age of Product: Airbnb, DigitalOcean, and Amplitude

San Francisco, CA: Mighty Capital, a Silicon Valley venture capital firm that invests in great products that are also great companies like Airbnb, DigitalOcean and Amplitude, celebrates the gifted entrepreneurs that are pioneering an era where the best product wins. 

According to McKinsey, the pandemic has accelerated the adoption of digital technologies by 7 years. 

92% of executives say that now is a unique opportunity to capitalize on digital acceleration,” says Spenser Skates, Founding CEO of Amplitude, a digital optimization platform and Mighty Capital portfolio company that recently filed to go public.

Entrepreneurs like Skates have set out to compete and gain market leadership with a strategy that puts their product first. Across industries, they are helping customers: 

  • Drive revenue by activating a new revenue channel and go-to-market strategy for your customers and building services that enable product-led growth, like Emil Davityan, Founding CEO of Bluedot, a customer arrival platform part of the Mighty Capital portfolio,
  • Increase productivity by reinventing work in a post-pandemic world and delivering products that empower connected workers, like Dan Levin, CEO of Degreed, an online corporate learning platform also part of the Mighty Capital portfolio,
  • Reduce cost by joining the low-code / no-code revolution and creating solutions that free up your customers’ precious engineering resources, like Kumesh Aroomoogan, Founding CEO of Accern, a no-code platform for financial services and part of the Mighty Capital portfolio.

Digital transformations create a perfect storm for entrepreneurs who want to turn the contrarian view that the best product wins into a reality,” says Renee Niemi, one of the first-ever Chief Product Officers (CPO), now CPO of Products That Count, a global product acceleration platform.

Mighty Capital is excited to see the Age of Product accelerate at such a rapid pace and create business value. Fueled by the drive of visionaries like Skates, Davityan, Levin, and Aroomoogan, the product ecosystem is rapidly expanding. Ten years ago there were hardly any products sold to product managers and today there are >2,000 (for comparison, >10,000 are sold to marketers). 

Thanks to Mighty Capital, we have gotten in the door with Fortune 1000 finance leaders, such as Goldman Sachs and Northwestern Mutual, and introductions to great leads for our Series B,” says Aroomoogan.

Much of that value comes from an exclusive partnership with Products That Count, which reaches >300,000 product managers worldwide. Product teams at Fortune 5000 companies are increasingly becoming key decision makers when it comes to buying technology products, just like marketing teams did a decade ago, riding on the digital advertising tide. 

Mighty Capital is one of our most valuable investors. Their global product platform was instrumental in securing our Series B and scaling our go-to-market strategy,” says Davityan.

Mighty Capital’s funds are dedicated to accelerating The Age of Product and all of them have been significantly oversubscribed, including its current one which was raised during the pandemic. Capital is being returned to investors after only 3 years, which is twice as fast as average. Over 20% of its previous fund has already gone public, and several more portfolio companies are on track to become public. Compare this to most VC funds, which are lucky if 5-10% of their portfolio goes public. 

It’s been rewarding and fun to witness great products become great businesses across so many industries. We have been pacing at 1 IPO per quarter for the past 3 quarters and hold positions in several companies that have appreciated >10X in 3 years,” says SC Moatti, Founding and Managing Partner of Mighty Capital. 

Raising venture capital money has never been easier and competition among investors to get into the best deals is fierce. Next-generation VC firms need to have a true value-add in order to outperform their peers.

I’m a huge fan of Mighty Capital because they are democratizing venture capital,” says Denelle Dixon, former COO of Mozilla, an investor in Mighty Capital.

May the best product win!


About Mighty Capital: Mighty Capital is an early-growth Silicon Valley venture capital (VC) firm. We deliver exceptional returns by investing in great products that are also great businesses, like Airbnb, MissionBio and Amplitude. Founders and other VC firms invite us to invest because we help our portfolio companies sell faster, hire top talent, and generate liquidity, by giving them exclusive access to the original and most influential product acceleration platform, Products That Count. Amplitude calls us the “best value for the dollar invested." Learn more at Mighty.Capital.

Media contact: SC Moatti, [email protected]