We realized our largest position in a portfolio company in Fund II through the sale of Punchh to PAR Technologies. Current portfolio company, Privacera raised a $50m Series B. Cervin Fund IV made new seed investments. And we started this year with the launch of a new, content-driven website.
The new website better showcases our portfolio companies and articulates our Disciplined Entrepreneurship strategy for company building. We adapted MIT Sloan's Disciplined Entrepreneurship Program for early stage enterprise technology companies. The MIT program is run by serial entrepreneur and renowned Professor Bill Aulet who has developed an intensive step-by-step strategic road map for launching a successful venture.
The Cervin team has been thinking deeply about the enterprise data landscape. At the end of 2020, we hypothesized that this year we would continue to see significant venture activity in the data infrastructure space. Along with the increase in data comes the need to store, analyze, manage, govern and secure it. Our portfolio company Privacera, a leading cloud access and data governance platform, raised a $50 million Series B, to prove that prediction.
It was a busy quarter. We’re excited to see what the rest of 2021 has in store.
Punchh - April 2021, $500 million exit to PAR Technologies Corporation.
Punchh, a leader in loyalty and guest engagement solutions, has been acquired by PAR Technology Corporation for $500 million. PAR is a leading global provider of restaurant software and has been a Punchh partner for many years. This acquisition makes PAR a unified commerce cloud platform for enterprise restaurants with integrated point-of-sale, back office, payment and guest engagement solutions. Congratulations to Shyam Rao, co-founder and CEO and the entire Punchh team. We are happy to have been part of their exciting journey.
Privacera - March 2021, Series B, $50 million
Privacera, the cloud data governance and security leader founded by the creators of Apache Ranger™, raised a $50 million Series B. The funds will be used to fast-track its go-to-market strategy and further extend Privacera's investment in its unified system for data governance and privacy across multiple cloud services such as Databricks, Starburst, and Snowflake. The round was led by Insight Partners with participation from Sapphire Ventures, Battery Ventures, and existing investors Accel, Point 72, and Cervin Ventures.