Seattle-based venture capital firm Tola Capital said Wednesday Phil Sorgen has joined the firm as a venture partner.
Sorgen most recently was the chief revenue officer at the cloud communications company RingCentral. He also spent 24 years at Microsoft and led the Redmond-based company's U.S. enterprise commercial group.
“We’re thrilled to welcome Phil as our first venture partner. He is a deep software expert and a seasoned business leader with a wealth of expertise in global enterprise sales and partnerships," Sheila Gulati, founder and managing director of Tola Capital, said in a statement.
Sorgen held the role of corporate vice president for years at Microsoft. As the CRO at RingCentral, he led the company's global sales, according to Tola Capital. Sorgen is also on the board of directors at Quisitive, a cloud and payments solutions company and a Microsoft partner.
Tola Capital, founded in 2010, focuses on companies building software for enterprise clients. Gulati co-founded the venture capital firm with Stacey Giard, a former Microsoft manager who worked in Microsoft's server and tools business. Giard is a partner and the chief operating officer of Tola Capital.
The firm's portfolio includes the website-building company B12, the supply chain solutions company LevaData and the employee communication platform Simpplr. Tola Capital has seen 11 of its portfolio companies to exits. According to the firm, it manages $440 million and has invested in more than 20 portfolio companies.
“I’m excited to tap into my experience and network in the world of enterprise software and become a part of the highly collaborative and engaged team at Tola Capital," Sorgen said in a statement. "Working with founders is inspiring to me, and I’m looking forward to rolling up my sleeves and engaging with them within the Tola portfolio."
