Tern amplifies innovation by driving early-stage technology companies to become leaders in their fields, with a particular focus on the Internet of Things (IoT) and artificial intelligence (AI). As a hybrid venture capital company, Tern not only invests but also collaborates closely with its portfolio businesses to maximise growth and value creation. Recent developments demonstrate Tern’s strong momentum in supporting disruptive technologies poised for significant market impact.
At the forefront of Tern’s portfolio, Device Authority has solidified its position as a leader in IoT security. Its KeyScaler platform provides robust “zero trust” solutions tailored to critical sectors like automotive, medical, and industrial. With new customer acquisitions and key clients expanding deployments, the platform’s scalability and efficacy have been proven. Device Authority’s partnership with cybersecurity powerhouse CyberArk and its recent designation as a Microsoft IoT/OT Security Partner for their Manufacturing Industry Reference Architecture further highlight its industry relevance. Backed by significant strategic investments from Ten Eleven Ventures and others, Device Authority is well-funded to continue expanding its footprint in North America and beyond.
Talking Medicines exemplifies the power of AI in transforming healthcare marketing. Its specialised Drug-GPT platform leverages curated AI models to deliver actionable insights for pharmaceutical companies. By mining conversational data from millions of interactions, the platform provides unparalleled clarity into patient and healthcare professional feedback. With 2024 marking a breakthrough year, Talking Medicines has achieved substantial traction, including partnerships with major marketing agencies and an impressive penetration into the US healthcare market. Its land-and-expand strategy positions the company to scale significantly as it embeds its solution with leading agencies and pharmaceuticals.
FundamentalVR is revolutionising surgical education through its immersive virtual reality platform, Fundamental Surgery. Designed to enhance competency and skill acquisition, the platform is hardware-agnostic and integrates cutting-edge haptics technology. Partnerships with blue-chip names like the Mayo Clinic and alliances with technology leaders such as Apple and Meta underscore the platform’s transformative potential. Despite challenging macroeconomic conditions in 2024, FundamentalVR experienced robust growth, marked by new capabilities and accolades, such as being named “Best Surgery Training VR Technology Company”. Its expansion into innovative hardware integrations ensures its continued leadership in the medical simulation space.
Tern’s strategic investment in Sure Ventures plc broadens its exposure to high-growth technology markets, including AI, augmented reality, and IoT. This stake complements Tern’s core portfolio by diversifying income opportunities and enhancing access to mature funds with proven track records, such as Sure Valley Ventures Fund. Recent successes, like the $450 million sale of Landvault, highlight the significant value potential of this investment.
As Tern’s portfolio companies attract increasing third-party investment, the firm is well-positioned to maintain and grow its stakes, ensuring it capitalises on long-term value creation. Alternative funding avenues approved in late 2024 offer additional flexibility, safeguarding Tern’s ability to support its businesses during pivotal growth phases. The continued focus on early-stage SaaS and generative AI sectors, which historically outpace other venture tech verticals, reflects Tern’s commitment to staying at the forefront of innovation.
Tern is building the future through its visionary approach to early-stage investment, helping transformative companies achieve scale and unlock market-leading potential.
