InterWest Press Releases
Siebel Executive and Software Industry Veteran, Bruce Cleveland, Joins InterWest Partners
Cleveland Brings Three Decades of Operational Experience and Unique Expertise to Venture Capital Firm
Menlo Park, CA - June 22, 2006 — InterWest Partners (www.interwest.com), a leading diversified venture capital firm, today announced the addition of Bruce Cleveland, recognized software industry veteran, as a partner with the firm. Cleveland will leverage his nearly three decades of operating expertise to seek new investment opportunities in the software and services sector with a focus on analytic applications and Software as a Service (SaaS).
"Bruce has worked with companies at every stage of the corporate lifecycle. He has an unusual combination of deep functional engineering and marketing experience and senior level general management," said Flip Gianos, Partner, InterWest Partners. "Bruce's experience with companies such as Siebel Systems, Apple Computer and Oracle Corporation will provide unique and valuable insight as he evaluates the people, strategies and execution plans of the opportunities we see. In addition, Bruce will be a very valuable resource to our existing portfolio companies."
Cleveland was one of the original members of the Siebel executive team. At Siebel, he held numerous executive positions including SVP and GM of Products, SVP and GM of the OnDemand and SMB divisions and Senior VP of Marketing and Alliances. In the later capacity, he is widely credited with creating the most effective alliance organization in the enterprise software industry. Cleveland also held executive positions in engineering and product management at Apple Computer and Oracle Corporation, and prior to Oracle, he held technical support and management positions at AT&T.
"I have had the tremendous good fortune to join and help build two software start-ups into industry leaders: Oracle and Siebel. Both capitalized upon technology transformations that led to rapid industry change: SQL/relational databases and object-based application development. Today, the software industry is going through yet another radical technology transformation. The combination of Service Oriented Architecture (SOA) and Software as a Service (SaaS) will foster an entirely new generation of software tooling, analytically-based applications, delivery systems and business models" said Cleveland. "As a partner with InterWest, I look forward to identifying, working with and coaching entrepreneurs who see the opportunity in these areas and helping them to become market leaders."
About InterWest Partners
InterWest Partners (www.interwest.com), founded in 1979, is a leading diversified venture capital firm focused on building long-term relationships with entrepreneurs and portfolio companies. Currently investing its ninth fund, IW IX, a $600 million fund, InterWest has raised more than $2 billion of capital since inception. InterWest has 17 investing partners in Menlo Park, CA and Dallas, TX, who bring together deep domain knowledge in life sciences and information technology.
The firm's investments in information technology include: CIENA (CIEN), Copper Mountain Networks (CMTN), Crystal Semiconductor (acquired by Cirrus Logic, CRUS), Cyrix (CYRX; acquired by National Semiconductor (NSM), Lightera (acquired by CIENA), PlaceWare (acquired by Microsoft, MSFT), SiTera (acquired by Vitesse, VTSS), Silicon Graphics (SGI), Stratacom (STRM; acquired by Cisco, CSCO) and Xilinx (XLNX).
The firm's investments in life sciences include: ArthroCare (ARTC), Aspreva Pharmaceuticals Corporation (ASPV, acquired by Galenica group, SWX:GALN), Cor Therapeutics (CORR; acquired by Millennium Pharmaceuticals, MLNM), Corixa (CRXA; acquired by GlaxoSmithKlein, GSK), Coulter Pharmaceutical (CLTR; acquired by Corixa Pharmaceuticals, CRXA), Cubist Pharmaceuticals (CBST), Epicor Medical (acquired by St. Jude Medical, STJ), Inspire Pharmaceuticals (ISPH), IntraLase (ILSE), Myogen (MYOG), Spinal Dynamics (acquired by Medtronic, MDT), TheraSense (THER; acquired by Abbott Labs, ABT) and Ventritex (VNTX; acquired by St. Jude Medical, STJ).