TCV and Kleiner Perkins Invest $135 Mln in OSIsoft

Technology Crossover Ventures and Kleiner Perkins Caufield & Byers have invested $135 million in OSIsoft. As part of the deal,  Jake Reynolds, TCV general partner, and Ben Kortlang, a KPCB partner, will join the OSIsoft board. San Leandro, Calif.-based OSIsoft provides the PI System which manages real-time data and events for sectors including manufacturing, energy and utilities.


OSIsoft, LLC, provider of the PI System and the leader in real-time data infrastructure solutions for management of real-time data and events, today announced that Technology Crossover Ventures (TCV) and Kleiner Perkins Caufield & Byers (KPCB) have made a significant minority investment in OSIsoft totaling $135 million.

OSIsoft is a recognized leader of solutions for collecting, managing and analyzing operational data — from the plant floor to the enterprise. Today 65 percent of Global 500 process and manufacturing companies use the OSIsoft PI System. The minority investment, which was co-led by TCV and KPCB, will enable OSIsoft to accelerate its expansion and address increasing global demand across the energy, manufacturing, utilities, life sciences, data centers, facilities, and the process industries it serves.

“With worldwide pressures to innovate and more efficiently manage operations, energy and resources, we’re seeing growing demand for our real-time data management solutions,” said Dr. J. Patrick Kennedy, CEO and founder of OSIsoft. “The minority stake by two of the world’s premier technology investors, TCV and KPCB, will provide both the resources and the deep industry expertise to help us expand strategically and serve growing markets around the world.”

“OSIsoft will remain focused on meeting the needs of our existing customers, many of which have been with us for decades,” said Bernard Morneau, president of OSIsoft. “This investment does not change the top priority of OSIsoft, which is to maximize the value our customers get from the PI System. We will continue to invest heavily in the development of the PI System to build on our leadership position as we continue to evolve with IT technology.”

As part of the transaction, Jake Reynolds, TCV general partner, and Ben Kortlang, KPCB partner will join the OSIsoft board of directors. Mr. Kennedy will continue to serve as chairman of the board.

“OSIsoft brings the technology innovation and market leadership we seek in our portfolio companies, providing proven software to nearly two-thirds of the world’s largest processing and manufacturing firms,” said Jake Reynolds of TCV. “By building on its solutions for real-time data visualization and analysis, OSIsoft is well positioned for accelerated growth in today’s 24-7 global market.”

“OSIsoft is playing an important role in the greening of manufacturing and process industries,” said Ben Kortlang of KPCB. “The PI System provides visibility into resource consumption and process performance, which empowers companies to improve energy efficiency and lower their environmental footprint. This is positive for businesses’ bottom line and for the environment.”

About OSIsoft, LLC

OSIsoft ( delivers the PI System, the industry standard in enterprise infrastructure, for management of real-time data and events. With installations in 107 countries spanning the globe, the OSIsoft PI System is used in manufacturing, energy, utilities, life sciences, data centers, facilities, and the process industries. This global installed base relies upon the OSIsoft PI System to safeguard data and deliver enterprise-wide visibility into operational, manufacturing and business data. The PI System enables users to manage assets, mitigate risks, comply with regulations, improve processes, drive innovation, make business decisions in real time, and to identify competitive business and market opportunities.

Founded in 1980, OSIsoft, LLC is headquartered in San Leandro, CA, with operations worldwide and is privately held. For more information about OSIsoft and PI System 2010, visit or contact Mike Dupuis

About TCV

Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of growth capital to technology companies, providing funds to later-stage private and public companies. With $7.7 billion in capital under management, TCV has made growth equity, PIPE and recapitalization investments in over 170 companies leading to 47 initial public offerings and more than 30 strategic sales or mergers. Representative investments include Altiris, C|NET, eHarmony, Expedia, Fandango, HomeAway, Liquidnet, Netflix, Orbitz, RealNetworks, Redback Networks, RiskMetrics Group, Solect Technology, TechTarget, TradingScreen, Travelport, Webroot and Zillow. TCV has 12 partners and is headquartered in Palo Alto, California. For more information about TCV, visit

About Kleiner Perkins Caufield & Byers

Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 500 ventures, including AOL,, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign, and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm’s portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions. For more information, visit