Release Date: 12/16/2014
Boston, MA – TiE-Boston awarded this year’s Lifetime Achievement Award to a person who has contributed immensely to the entrepreneurial community in New England. For the past 30 years, Ed Anderson, Founder and Managing General Partner of North Bridge, has advised and provided financing to entrepreneurs who are focused on building highly disruptive and game-changing companies.
Anderson’s involvement almost always starts with an inception-stage investment. North Bridge has been involved as the lead or co-lead investor in 27 companies founded by TiE entrepreneurs, including Cascade Communications, Cazena, Starent Networks, Sycamore Networks, Veveo, Zettics, and many others. Anderson’s firm has backed TiE entrepreneurs with a total of $368 million in funding. In these investments, TiE entrepreneurs posted a 72 percent success rate – an incredible three times the industry standard of 25 percent. Further, of these 27 companies, 10 companies became industry leaders meaning they pioneered a market and/or led in market share, and six grew into billion-dollar companies, sometimes referred to as ‘unicorns’.
“I feel incredibly fortunate to have enjoyed a spectacular partnership over the past 30 years with members of the TiE organization and as such it is an honor to be recognized with the Lifetime Achievement Award,” said Anderson. “These North Bridge investments, in 27 companies founded by TiE entrepreneurs, were ultimately worth over $50 billion. That value is indicative of the effort, quality and character of the TiE community and their willingness to solve difficult problems. Today’s world is defined by software. With movements like open source, as a point of leverage, startups will be able to focus 100 percent of their engineering effort on a unique value focused on solving a customer problem and importantly, paying for itself in 12 months or less. I’m excited to see what bold entrepreneurs are able to do.”
Desh Deshpande, Chairman Emeritus TiE-Global Board of Directors, said the following about Ed Anderson: “Without the seed funding from Ed Anderson for Cascade Communications 25 years ago, I could not have continued my entrepreneurial journey. Ed Anderson has been an important player in building the entrepreneurial ecosystem in Massachusetts and I am very pleased that TiE-Boston has recognized his achievements with the Lifetime Achievement Award.”
Since 1997, TiE-Boston has been supporting entrepreneurs by offering education, mentorship, networking, and funding opportunities. What makes TiE unique is that the organization connects entrepreneurs with each other and other stakeholders in the ecosystem, including seasoned serial entrepreneurs, angel investors, venture capitalists, service providers, and early customers. TiE-Boston is a chapter of TiE-Global, the largest global not-for-profit organization fostering entrepreneurship. TiE-Boston members leverage the global network of members from 61 chapters in 18 countries. TiE has 12,000 members throughout the world, and has contributed over $250B in wealth creation. For more information about TiE-Boston and charter members, visit tie-boston.org.
About North Bridge
North Bridge Venture Partners and North Bridge Growth Equity actively partner with founders and entrepreneurs providing seed-to-growth financing for innovative companies looking to disrupt and reinvent big markets. With $3.8 billion of capital under management, North Bridge partners, many founders themselves, work with entrepreneurs to apply their expertise in the creation, operation and scaling of market-leaders. The firm has funded more than 170 companies creating many billions in market value. Among those firms are Acquia, Actifio, Cool Planet, Couchbase, Demandware, Mavenir Systems, Proto Labs, Reval and Starent Networks. The firm has offices in Waltham, MA and Palo Alto, CA. To learn more about North Bridge go to http://www.northbridge.com.