MENLO PARK, Calif., April 16, 2021 (GLOBE NEWSWIRE) -- Leading venture capital firm Menlo Ventures has a new partner: Tim Tully.
Tim will join Menlo Ventures in May, transitioning into venture capital from Splunk (NASDAQ: SPLK), where he was the Chief Technology Officer and led the product, engineering, IT and security teams. He will bring his deep engineering experience to his investments of Menlo XV, a $500 million early-stage fund launched in October 2020. Tim will focus on next-gen cloud infrastructure, specifically AI/ML platforms, devops, and the new data stack. Tim will also advise on early-growth investments considered by Menlo’s Inflection Fund.
“It’s a big day for our firm, and we’re thrilled to welcome Tim Tully to the Menlo Ventures team. Cloud technologies are transforming IT at an unprecedented pace but it’s rare to encounter someone as genuinely curious and technically deep on the topic as Tim,” said Matt Murphy, Partner at Menlo Ventures. “He is a valuable domain add to the firm. As a strong operator, architect, and leader of thousands of engineers and projects across both Splunk and Yahoo, Tim’s technical background will resonate with early-stage founders that want an investor who understands their business deeply.”
While CTO of Splunk, Tim oversaw the company’s shift to the cloud. He was responsible for 10 of Splunk’s acquisitions (SignalFx, Omnition, Phantom Cyber, Victorops, Streamlio, Plumbr, Flowmill, Rigor, Rocana, and SignalSense) and also worked with Splunk’s venture capital arm. He massively scaled Splunk’s product, design, IT and engineering teams, tripling its product team from 600 to 1800 in less than three years. Among his many other accomplishments during his Splunk tenure, he helped grow the company’s revenue to $2.5B annually with a $25B market cap. Before Splunk, Tim spent over a decade in various technical roles at Yahoo!, Sun Microsystems, and several startups. He holds an M.S. from Carnegie Mellon University and a B.S. from the University of California, Davis.
“I’ve been fortunate enough to spot top talent and work with great technical leaders and entrepreneurs during my operating career. And now joining the venture side, I’m excited to help grow and create transformational companies with the next generation of founders,” said Tully. “Menlo Ventures is one of Silicon Valley’s most respected VC firms, and I look forward to joining their team.”
Tim joins the ranks of other Menlo partners that have leveraged an extensive operating background to double down on, or create an entire practice around, high-growth sectors. The firm hired 20-year life sciences veteran Greg Yap in 2017 to lead life sciences and digital health investments, and product-led growth and monetization expert Naomi Ionita in 2018 to help SaaS entrepreneurs realize their full potential.
Menlo has a long history of identifying category winners at the early stage, including Benchling, Carta, Chime, Gilead, Poshmark, Roku, Siri (acquired by Apple) and Uber.
About Menlo Ventures
Menlo Ventures is a venture capital firm that strives to have a positive impact on everything we do. That’s why we support businesses including Benchling, Chime, Carta, Poshmark, Uber, and Roku that are reimagining life and work for the better. Over 43 years, we’ve grown a portfolio that includes more than 70 public companies, over 100 mergers and acquisitions, and $5.5 billion under management. We invest at every stage and in every sector, with expertise in Consumer, Enterprise, and Healthcare. From developing market strategies to creating communities, we provide real impact where entrepreneurs need it most. When we’re in, we’re all in.
Contact:
Ali Moore
Nectar Communications
amoore@nectarpr.com
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a5f5f5c0-432f-4265-80c5-66c6433f0cfb