Strategic report / Venture Funds
Touring I:
Next-generation software fund
Touring I was founded in 2023 as a dedicated fund to invest in and grow a new generation of enterprise software companies globally. It brings together a diverse and highly technical team who have previously worked together to build a number of global venture investing franchises, including Qualcomm Ventures and M12, Microsoft’s venture fund.
Touring Venture Fund strategy
Next-generation software
The team will be investing a dedicated pool of capital, targeting a strong pipeline of investment opportunities in proven next-generation software businesses for the modern worker, powered by generative AI.
Focused on growth prospects
Touring will focus primarily on Series B and C venture opportunities, investing in proven businesses with strong growth prospects.
Venture Funds / Touring I Fund portfolio
OCI commitment
$100m
OCI is one of a number of investors that have invested in Touring, whose fund size as of 31 December 2024 stands at $238m.
Exaforce
Founded in 2023 and headquartered in California, Exaforce is a cybersecurity software company for cloud security operations teams. Exaforce’s product alpha is now being tested with several early design partner customers for semantics and analytics of different log and data sources.
Netradyne
Based in San Diego, Netradyne is a leading provider of fleet management software that pairs cutting-edge AI with real-time video monitoring to create a safe driving system. Netradyne continued its strong growth in 2024, driven by strong enterprise sales momentum and a number of notable new logo wins against key competitors. Alongside strong revenue growth, Netradyne continued to demonstrate positive improvement in unit economics and the growth of its data asset. Netradyne also successfully closed its Series D financing in 2024.
Numa
Numa provides AI-powered communications software that enables service departments of US automotive retail dealerships to automate and enhance customer service operations. Numa continued its strong sales momentum in 2024, penetrating independently-owned dealerships and a handful of the largest dealership groups across the United States, including Penske and Lithia. Amid strong performance, the company successfully closed its Series B financing in 2024.
Pixis
Pixis provides an AI-powered infrastructure platform that enables marketers to achieve significantly improved marketing performance through campaign automation and optimisation. Pixis saw a number of notable new enterprise logos wins and the continued success of its agency rollup strategy. The business made significant investments in Stellar, its unified go-to-market strategy for the agencies under the Pixis umbrella.
SafeBase
Founded in 2019 and headquartered in San Francisco, California, SafeBase is a security and compliance software company that enables software vendors to automate and streamline security review processes. In 2024, SafeBase demonstrated strong enterprise sales momentum and significant cross-sell demand for its AI-powered questionnaire assistance product. As of 2024, SafeBase powered over 700 public trust centers, representing 20%+ of the world’s largest cloud companies.
Daloopa
Founded in 2019, Daloopa is a data software provider for the financial services industry. Using AI, Daloopa provides an agentic AI platform that extracts financial information across thousands of public financial documents and automates financial modeling workflows. In 2024, Daloopa saw continued expansion of its customer base across the world’s leading investment banks, hedge funds, private equity firms.
Cusp AI
Cusp AI is a London-based software company developing a cutting edge “inverse design solver” using generative AI and reinforcement learning for optimal end-to-end design across a range of materials science applications. Cusp has made continued progress in its development of new candidates for carbon sustainability in a class of materials known as MOFs (metal oxide frameworks) and COFs (covalent organic frameworks).
SafelyYou
Founded in 2016 and headquartered in San Francisco, California, SafelyYou provides a hardware and software AI-powered platform that is largely focused on fall detection in senior living facilities. SafelyYou saw continued revenue momentum which solidified its market leadership position, driven by expansion into the largest senior living provider groups in the United States. The company also made significant progress in driving product development across its newest hardware offerings and various software-only add-on features.