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New York City, NY
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We are all builders
We do what it takes so the option is always ours.
We know nothing will be handed to us. Our success — as it has always been — will be the result of hard work and determination. Every member of Thrive pushes themselves beyond what is "expected," and we control our own destiny as a result.
It took three different people just to get us in touch with Peter Reinhardt, the CEO of Segment. When we finally connected in 2015, Segment had already raised its Series A, and the company was showing strong early traction.
We saw Segment as a game-changer for companies struggling to manage fragmented customer data across multiple tools. The company’s value proposition was simple but powerful: integrate once with Segment, and instantly connect to countless third-party services without the repeated engineering burden. This “set it and forget it” approach freed engineering teams to focus on building products instead of managing integrations. As Segment grew, it became even more valuable—each new tool added to its platform increased its appeal to other companies. Segment was on track to become a category-defining company. We set our sights on their Series B.
Will Gaybrick and Miles worked relentlessly to impress Segment. When Peter and his sales leader, Raf, planned a trip to New York, we packed their schedule with back-to-back meetings with top sales prospects to showcase our network and potential value to them. That evening, Will and Miles took Peter and Raf out for drinks, kicking off what would become a year-long pursuit filled with late-night strategy sessions and countless decks outlining our thinking on the company. Will and Miles merrily slogged through deck after deck, crafting detailed plans that demonstrated how Segment could capture the long tail of providers, and flying coast to coast at a moment’s notice whenever Peter and his team needed to meet.
Then, one Saturday over a year later, Peter called and said, “Okay, we’re thinking about fundraising.” Without hesitation, Will and Miles flew to San Francisco, met with Peter on Monday, and returned to New York to discuss with the rest of the team. After all the work they’d done leading up to the conversation the decision was clear: we wanted to go all in. Peter was in Ohio at the time, so Will and Miles flew there, had dinner with him at a hotel, and handed him a term sheet. By Friday, the deal was done.
We invested $300M at 30x revenue, a sign of our conviction after a year of diving deep on the company. In 2020, Segment was acquired by Twilio in an all-stock deal valued at $3.2B, an outcome that validated the hard work and persistence we put into securing the opportunity.
°F
New York City, NY
Select a value
We are entitled to nothing.
We do what it takes so the option is always ours.
We know nothing will be handed to us. Our success — as it has always been — will be the result of hard work and determination. Every member of Thrive pushes themselves beyond what is "expected," and we control our own destiny as a result.
It took three different people just to get us in touch with Peter Reinhardt, the CEO of Segment. When we finally connected in 2015, Segment had already raised its Series A, and the company was showing strong early traction.
We saw Segment as a game-changer for companies struggling to manage fragmented customer data across multiple tools. The company’s value proposition was simple but powerful: integrate once with Segment, and instantly connect to countless third-party services without the repeated engineering burden. This “set it and forget it” approach freed engineering teams to focus on building products instead of managing integrations. As Segment grew, it became even more valuable—each new tool added to its platform increased its appeal to other companies. Segment was on track to become a category-defining company. We set our sights on their Series B.
Will Gaybrick and Miles worked relentlessly to impress Segment. When Peter and his sales leader, Raf, planned a trip to New York, we packed their schedule with back-to-back meetings with top sales prospects to showcase our network and potential value to them. That evening, Will and Miles took Peter and Raf out for drinks, kicking off what would become a year-long pursuit filled with late-night strategy sessions and countless decks outlining our thinking on the company. Will and Miles merrily slogged through deck after deck, crafting detailed plans that demonstrated how Segment could capture the long tail of providers, and flying coast to coast at a moment’s notice whenever Peter and his team needed to meet.
Then, one Saturday over a year later, Peter called and said, “Okay, we’re thinking about fundraising.” Without hesitation, Will and Miles flew to San Francisco, met with Peter on Monday, and returned to New York to discuss with the rest of the team. After all the work they’d done leading up to the conversation the decision was clear: we wanted to go all in. Peter was in Ohio at the time, so Will and Miles flew there, had dinner with him at a hotel, and handed him a term sheet. By Friday, the deal was done.
We invested $300M at 30x revenue, a sign of our conviction after a year of diving deep on the company. In 2020, Segment was acquired by Twilio in an all-stock deal valued at $3.2B, an outcome that validated the hard work and persistence we put into securing the opportunity.