Canaan Enterprise

2022 in Review

Portfolio happenings, new investments, open roles, and much more.

Canaan Enterprise

2022 in Review

Portfolio happenings, new investments, open roles, and much more.

We're pleased to share a look back at our enterprise portfolio in 2022.

It has been an unprecedented year in many ways, and it continues to be anyone's guess how long this recovery will take. But what we do know is that uncertainty always breeds opportunity. We consider ourselves fortunate to have good news to share at this moment and to work with exceptional teams who are grinding it out and continuing to bring their visions to life.

This “Year in Review” covers enterprise milestones (with new and existing investments), big headlines around Canaan, and market analysis from our team. We've also included details on open roles across our portfolio.

Maha Ibrahim, Rayfe Gaspar-Asaoka, Nandu Anilal and Joydeep Bhattacharyya
Canaan Enterprise Team

Portfolio News

Kustomer Acquired by Meta

The Company: Kustomer is a customer-centric platform focused on changing how companies communicate and manage their data.

The Founders: Brad Birnbaum, Jeremy Suriel

The Investor: Deepak Kamra

The News: Kustomer was acquired by Meta in February. This is a company we've been bullish on since we first met with Brad and Jeremy in 2016 when we led their Series A, and we continued to support the company in subsequent rounds to become their largest shareholder. Read more on Bloomberg.

The Blog: Read Deepak's post on Kustomer.

Contentsquare Raises $600 Million

The Company: Contentsquare is an AI-powered SaaS platform that delivers complete digital experience insights.

The Founders: Jonathan Cherki

The Investor: Joydeep Bhattacharyya

The News: ContentSquare announced $600 million in Series F funding at a valuation of $5.6 billion in July. Sixth Street Growth led the round and was joined by several new and existing investors. We led the Series B and have participated in all subsequent rounds. Read more on WSJ.

Instrumental Raises $50 Million

The Company: Instrumental builds core manufacturing data infrastructure for some of the world's most admired electronics brands to solve crucial issues in their manufacturing operations.

The Founders: Anna-Katrina Shedletsky

The Investor: Hrach Simonian

The News: Instrumental announced $50 million in Series C funding in February. BAM Elevate led the round, with Canaan, Root Ventures, and Eclipse Ventures as return investors. Read more on TechCrunch.

Appsmith Raises $41 Million

The Company: Appsmith is the first open-source low-code tool that quickly helps developers build dashboards and admin panels.

The Founders: Abhishek Nayak and Arpit Mohan

The Investor: Joydeep Bhattacharyya

The News: Appsmith announced $41 million in Series B funding in June. Insight Partners led the round with participation from Accel, Canaan, OSS Capital, and angel investors, including Jeff Hammerbacher and Abhinav Asthana. Read more on TechCrunch.

The Blog: Read Joydeep's blog from October 2021 when we led Appsmith's Series A.

BoostUp Raises $28.5 Million

The Company: BoostUp enables revenue teams to harness data from dozens of sources to drive pipeline and forecast accuracy, increase win rates, and achieve predictable revenue growth.

The Founders: Sharad Verma

The Investor: Joydeep Bhattacharyya

The News: BoostUp announced $28.5 million in Series B funding in March. NGP Capital led the round, with existing investors Canaan, Emergent, and BGV participating, along with CROs and RevOps leaders from HashiCorp, Twilio, Apttus, and Datadog. Read more on VentureBeat.

The Blog: Read Joydeep's blog from September 2020, when we led BoostUp's Series A.

Alkymi Raises $21 Million

The Company: Alkymi is transforming enterprise workflows by placing machine learning and automation technology into the hands of business users to turn operational data headaches into a source of efficiency.

The Founders: Harald Collet

The Investor: Joydeep Bhattacharyya

The News: Alkymi announced $21 million in Series A funding in October. Intel Capital led the round with participation from Canaan, Work-Bench, and SimCorp. Read more on TechCrunch.

The Blog: Read Joydeep's blog from February 2020, when we led Alkymi's seed.

New Investments

Canaan Leads $50 Million Series B in WorkMotion

The Company: WorkMotion makes it easy for European companies to hire and build international teams.

The Founders: Carsten Lebtig, Karim Zaghloul

The Investor: Joydeep Bhattacharyya

The News: WorkMotion announced $50 million in Series B funding in June 2022. We led the round with participation from existing investors Activant Capital, XAnge, and Picus Capital, as well as Heliad Equity Partners and GR Capital, who joined as first-time investors.

The Blog: Read Joydeep's post on WorkMotion.

Canaan Leads $18 Million Series A in Mosey

The Company: Mosey provides the automation and expertise required to hire remotely and stay compliant—all for a fraction of the cost of HR, legal, and tax consulting.

The Founders: Alex Kehayias

The Investor: Laura Chau

The News: Mosey announced $18 million in Series A funding in August 2022. We led the round with participation from Gusto, SemperVirens, Charge, and angel investors from companies including Stripe, Splunk, AirBnb, Coda, and InVision. Read more on TechCrunch.

The Blog: Read Laura's post on Mosey.

The Latest

Announcing Canaan Build

Last month, we announced a program to support our founders in shaping and scaling their ventures: Canaan Build. Having lived through several turbulent cycles since our founding in 1987, we know that with proper guidance and perseverance, outstanding companies can emerge out of periods of market turmoil.

Canaan Build comprises a dedicated team of seasoned operators rolling up their sleeves and working alongside the incredible entrepreneurs of the Canaan community. Howard Greenfield, Sarah Johnson, and Amanda Townsend are already working across our portfolio and sharing expertise based on the companies' unique needs, stages, and sectors.

We're Hiring!

Are you interested in joining Canaan?

We're looking to add an analyst to our tech investment team in our SF and Menlo Park offices. This role is perfect for someone excited to learn about new tech and markets, drive our investment diligence, and become an integral part of our team. We're looking for a motivated new team member to work alongside our investment professionals as a generalist across Canaan's core investment areas.

Apply Here ›

Portfolio Happenings

Snyk was #20 on the 2022 Forbes Cloud 100 List!

Sounding Board was among Fortune's 100 Best Small Workplaces!

Featured Content

The State of NLP & LLMs
An overview of the market today and opportunities ahead in the large language model era of NLP

The Evolution of Infrastructure Markets — Foundation Models
An overview of AI infrastructure in the era of foundation models

Both authored by Nandu Anilal, investor at Canaan.

Portfolio Jobs

Are you looking for your next role? Take a look at the open opportunities at our portfolio companies. We have 450+ available roles across our enterprise companies on our Careers page!

GTM & Business Ops

Alkymi, Director of Demand Generation (Remote)
Edge Impulse, VP of Enterprise Marketing (Remote)

Engineering, Product & Design

Contentsquare, Head of Engineering Program Management (Paris Area)
Mosey, Senior Full Stack Software Engineer (Remote)
Tropic, VP of Product (Remote)


Dragos, Senior Project Manager - Compliance (Remote)
Perygee, Chief of Staff (Remote, Boston, NYC, or DC)
Snyk, Lead Counsel, Commercial (Boston or Remote)