Unless noted otherwise, references on the website to the “Polaris Main Funds” represent the funds managed by North Star Venture Management 2010, L.L.C. (i.e., Polaris Venture Partners I, L.P., Polaris Venture Partners II, L.P., Polaris Venture Partners III, L.P., Polaris Venture Partners IV, L.P., Polaris Venture Partners V, L.P., Polaris Venture Partners VI, L.P., Polaris Partners VII, L.P., Polaris Partners VIII, L.P., Polaris Partners IX, L.P., Polaris Partners X, L.P., and Polaris Healthcare Technology Opportunities Fund, L.P., as well as any alternative investment vehicles and side funds).
LS Polaris Innovation Fund, L.P. (“LSPIF”) and Polaris Innovation Fund II, L.P. (“PIF II,” and together with LSPIF, the “Polaris Innovation Funds”) are specialized affiliate funds of Polaris Partners that are managed by their adviser, LS Polaris Innovation Fund Management, L.L.C.
Polaris Growth Fund I, L.P. (“PGF I”) and Polaris Growth Fund II, L.P. (“PGF II,” and together with PGF I, the “Polaris Growth Funds”) are also specialized affiliate funds of Polaris Partners that is managed by their adviser, Polaris Growth Management, L.L.C. The Polaris Growth Funds make levered recapitalizations of software and technology-enabled services companies across a variety of industry verticals.
NO OFFER OF SECURITIES OR ADVICE
The website contains general information about Polaris and its portfolio and is directed at entrepreneurs interested in partnering with Polaris and for individuals considering possible employment with Polaris. Nothing on this website is an offer or solicitation to buy or sell any security, including, without limitation, any interested in any investment vehicles managed by Polaris or any company in which Polaris, any Polaris fund, or any of their respective affiliates, have invested. Although the website may include investment-related information, nothing on this website is a recommendation that you purchase, sell or hold any security or other investment, or that you pursue any investment style or strategy. Nothing on this website is intended to be, and you should not consider anything on the website to be, investment, accounting, tax or legal advice.
An offer regarding any Polaris fund may only be made after receipt of a confidential private placement memorandum concerning a particular fund and the opportunity to discuss all matters concerning any prospective investment. This website is not intended for prospective investors in Polaris funds and does not provide information material to an investor’s decision to invest in any Polaris fund, including, but not limited to, risk factors. For such information, investors should refer to the relevant fund’s private placement memorandum.
The website may include current and historical portfolio companies. Such references are for illustrative purposes only and do not represent all Polaris portfolio companies. A full list can be found here.
The information contained in the website may include certain historical investment performance information and forward-looking statements relating to the Polaris funds as well as to their underlying portfolio companies. Forward-looking statements are not guarantees of the underlying expected actions or future performance and future results may differ significantly from those anticipated by the forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future performance will be comparable to past performance.
OTHER DEFINITIONS AND DISCLOSURES
Entrepreneur Partners and Executive Partners are portfolio company support providers, and any compensation received by an Entrepreneur Partner or Executive Partner from a fund or portfolio company will not be treated as fees subject to the management fee offset. Entrepreneur Partners and Executive Partners may also receive certain compensation which is treated as a Management Company expense.
Repeat Entrepreneurs are individuals who, with respect to each of two or more portfolio companies of the Polaris Main Funds (including indirect investments via Polaris Partners LSPIF Investment Company, LLC, Polaris Partners LSPIF Investment Company II, LLC, and Polaris Partners PIF Investment Company III, LLC): (a) played a pivotal role impacting Polaris’ initial investment, the formation, strategy, trajectory, direction, and/or successful outcome of such portfolio company; and (b) served in the capacity as a founder, Chief Executive Officer, senior executive employee, member of the board of directors, or chairman of the board of directors of such portfolio company. Repeat Entrepreneurs who are not also Entrepreneur Partners are not employees of Polaris and are oftentimes employees of portfolio companies and/or receive compensation from portfolio companies. Any compensation received by an Entrepreneur Partner from a portfolio company will not be treated as fees subject to the management fee offset.
Strategic Acceleration Team (“SAT”) individuals are employees of Polaris who provide finance, corporate development, sales acceleration and other support services (the “Operating Advisor Services”) directly to the portfolio companies of the Polaris Growth Funds on behalf of the SAT business. The SAT business pays such individuals compensation for their Operating Advisor Services and bear expenses related to the provision of such services and operating the SAT business (such amounts, the “Operating Advisor Business Costs”). The SAT business has and expects to continue to charge portfolio companies for such Operating Advisor Services (any such payments, “Operating Advisor Portfolio Compensation”), provided that over the term of any Polaris Growth Fund, Operating Advisor Portfolio Compensation shall not exceed Operating Advisor Business Costs. In the event that the aggregate Operating Advisor Portfolio Compensation received by the SAT business during the term of a Polaris Growth Fund fund exceeds the amount of Operating Advisor Business Costs borne by the SAT business (such excess amount, the “Operating Advisor Services Net Income”), the management fee payable by such fund will be reduced by the amount of any such Operating Advisor Services Net Income.
Growth Experts are not employees of Polaris and are oftentimes employees of portfolio companies and/or receive other compensation from portfolio companies. Any compensation received by a Growth Expert from a portfolio company will not be subject to offset against management fees.
Other Definitions Used Herein:
“IPOs” includes companies that were private investments in the Polaris portfolio prior to filing for initial public offerings.
“Exits” includes both public and private companies in the Polaris portfolio for which a majority of the Polaris securities were acquired in a merger or acquisition by third party.
“Therapies to Market” reflects healthcare therapies and devices to market, including FDA product approvals, by Polaris portfolio companies since the firm’s inception (1996) through Q4 2022.
All Polaris figures and statistics on this website are as of Q4 2022.
All content included on this website, such as documents, charts, graphics, logos, articles and other materials, is the property of Polaris or others and is protected by copyright and other laws. All trademarks and logos displayed on this website are the property of their respective owners, who may or may not be affiliated with Polaris.
RESTRICTIONS ON USE
RISKS YOU ASSUME BY USING THE WEBSITE
Information on the website speaks only as of the date indicated. While we make reasonable efforts to provide accurate information, at times we may not promptly update or correct the website even if we are aware that it is inaccurate, outdated or otherwise inappropriate. You agree that we are not responsible for any action that you take or decision you make in reliance on any information contained in the website.
While we make commercially reasonable efforts to ensure that the website is secure, we do not guarantee the security of the website or your communications with us through the website. Electronic communications can be intercepted by third parties and, accordingly, transmissions to and from this website may not be secure. Communications to Polaris, particularly those containing confidential information, may be sent by mail to: Polaris Partners, One Marina Park Drive, 8th Floor, Boston, MA 02210, attn: General Counsel. Polaris shall be free to use, for any purpose, any ideas, concepts, know-how, or techniques provided by you to Polaris through this website.
THIRD PARTY WEBSITES
Due to the global nature of the Internet, this website may be accessed by users in countries other than the United States. We make no warranties that materials on this website are appropriate or available for use in such locations. If it is illegal or prohibited in your country of origin to access or use this website, then you should not do so. Those who choose to access this site outside the United States do so on their own initiative and are responsible for compliance with all local laws and regulations. In addition information collected from users outside the United States may be transferred to the United States and other countries.
DISCLAIMER OF WARRANTIES
You acknowledge that we provide the contents of this website on an “as is” basis with no warranties of any kind. We disclaim all representations and warranties, express or implied of any kind with respect to the website, including warranties of merchantability, fitness for a particular purpose and non-infringement of intellectual property and proprietary rights. Without limiting the foregoing, we do not warrant the availability, accuracy, completeness, timeliness, functionality, reliability, speed or delivery of the website or any part of the information contained in this website. Your use of this website and use or reliance upon any of the materials on it is solely at your own risk.
Neither we nor any of our agents, members, managers, officers, directors or employees are responsible for any damages, liabilities or injury, including but not limited to direct, indirect, incidental, special, exemplary, punitive or consequential damages, or for any lost profits or losses, however caused, arising out of your use of (or inability to use) this website, whether arising under this Agreement or otherwise. Our liability is limited to the maximum extent permitted by law and is limited even if we have been advised of the possibility of the damages, liability or injury that you suffer or if any remedy you have fails of its essential purpose, including any damages, liabilities or injury caused by any failure of performance, error, omission, interruption, defect, delay in operation, computer virus, line failure, or other computer malfunction.
In exchange for using this website, you agree to indemnify and hold Polaris, our agents, members, directors and employees harmless against any and all claims, losses, liabilities, costs and expenses (including, but not limited to, attorneys’ fees) arising from your use of this website or your violation of this Agreement. In addition, you understand and agree that your use of this website is predicated upon your waiver of any right to sue Polaris, our agents, members, managers, officers, directors and employees directly or to participate in a suit for any losses or damages resulting from your use of this website.
Notwithstanding the foregoing, nothing contained in preceding paragraphs or elsewhere in this Agreement shall constitute a waiver by you of any of your legal rights under applicable U.S. federal securities laws or any other laws whose applicability is not permitted to be contractually waived.
Polaris may terminate your access to this website for any reason, without prior notice. The Agreement shall survive any termination or expiration of your access to the website.
The laws of the Commonwealth of Massachusetts, without regard to its principles of conflict of laws, will govern this Agreement (including any disputes concerning or related to this Agreement). You hereby expressly agree to submit to the exclusive personal jurisdiction of the federal and state courts sitting in Boston, Massachusetts for the purpose of resolving any dispute relating to your access to or use of the website. You agree to bring any claim solely in your individual capacity and you expressly waive any right to bring any claim as part of a group or as a class action.
If any provision of the Agreement is deemed unlawful, void, or for any reason unenforceable, than that provision will be deemed severable from the Agreement and will not affect the validity and enforceability of the remaining provisions. The Agreement constitutes the entire agreement and understanding between you and Polaris, and supersedes any prior agreement and understandings with respect to your access to or use of the website.
Use of the term “Personal Data” herein means any information that identifies or relates to a particular individual and also includes information referred to as “personally identifiable information” or “personal information” under applicable data privacy laws, rules or regulations.
CATEGORIES OF PERSONAL DATA WE COLLECT
Below are the categories of Personal Data that we collect, may collect and/or have collected over the past 12 months:
- Examples of Personal Data We Collect: IP address (but not including “precise geolocation), device ID, domain server, type of device/operating system/browser used to access the Services
- Categories of Third Parties With Whom We Share this Personal Data: service providers, business partners, parties you authorize, access or authenticate
- Examples of Personal Data We Collect: web page interactions, referring webpage/source through which you accessed the services, non-identifiable request IDs, statistics associated with the interaction between device or browser and the services
- Categories of Third Parties With Whom We Share this Personal Data: service providers, business partners, parties you authorize, access or authenticate
Other Identifying Information that You Voluntarily Choose to Provide
- Examples of Personal Data We Collect: identifying information in emails or letters you send us
- Categories of Third Parties With Whom We Share this Personal Data: service providers, business partners, parties you authorize, access or authenticate
Categories of Sources of Personal Data
We collect Personal Data about you from the following categories of sources:
- When you provide such information directly to us.
- When you use our Site.
- When you voluntarily provide information in free-form text boxes through the Site or through responses to surveys or questionnaires.
- When you send us an email or otherwise contact us.
- When you use the Site and such information is collected automatically.
- Through Cookies (defined in the “Tracking Tools and Opt-Out” section below).
- We may use analytics providers to analyze how you interact and engage with the Site, or third parties may help us provide you with customer support.
Our Commercial or Business Purposes for Collecting or Disclosing Personal Data
Providing, Customizing and Improving the Site
- Providing you with the products, services or information you request.
- Meeting or fulfilling the reason you provided the information to us.
- Providing support and assistance for the Site.
- Improving the Site, including testing, research, internal analytics and product development.
- Personalizing the Site, website content and communications based on your preferences.
- Doing fraud protection, security and debugging.
- Carrying out other business purposes stated when collecting your Personal Data or as otherwise set forth in applicable data privacy laws, such as the California Consumer Privacy Act, as amended by the California Privacy Rights Act of 2020 (the “CPRA”).
Corresponding with You
- Responding to correspondence that we receive from you, contacting you when necessary or requested, and sending you information about us or the Site.
- Sending emails and other communications according to your preferences or that display content that we think will interest you.
Meeting Legal Requirements and Enforcing Legal Terms
- Fulfilling our legal obligations under applicable law, regulation, court order or other legal process, such as preventing, detecting and investigating security incidents and potentially illegal or prohibited activities.
- Protecting the rights, property or safety of you, us or another party.
- Enforcing any agreements with you.
- Responding to claims that any posting or other content violates third-party rights.
- Resolving disputes.
We will not collect additional categories of Personal Data or use the Personal Data we collected for materially different, unrelated or incompatible purposes without providing you notice.
HOW WE SHARE YOUR PERSONAL DATA
We disclose your Personal Data to the categories of service providers and other parties listed in this section. Depending on state laws that may be applicable to you, some of these disclosures may constitute a “sale” of your Personal Data. For more information, please refer to the state-specific sections below.
Service Providers. These parties help us provide our services or perform business functions on our behalf. They include hosting, technology and communication providers; security and fraud prevention consultants; and analytics providers.
Business Partners. These parties partner with us in offering various services. They include businesses that you have a relationship with, including our investment fund affiliates.
Parties You Authorize, Access or Authenticate. They include third parties you access through the services; and other users.
We may share any Personal Data that we collect with third parties in conjunction with any of the activities set forth under “Meeting Legal Requirements and Enforcing Legal Terms” in the “Our Commercial or Business Purposes for Collecting Personal Data” section above.
All of your Personal Data that we collect may be transferred to a third party if we undergo a merger, acquisition, bankruptcy or other transaction in which that third party assumes control of our business (in whole or in part). Should one of these events occur, we will make reasonable efforts to notify you before your information becomes subject to different privacy and security policies and practices.
Data that is Not Personal Data
We may create aggregated, de-identified or anonymized data from the Personal Data we collect, including by removing information that makes the data personally identifiable to a particular user. We may use such aggregated, de-identified or anonymized data and share it with third parties for our lawful business purposes, including to analyze, build and improve the Services and promote our business, provided that we will not share such data in a manner that could identify you.
TRACKING TOOLS AND OPT OUT
We currently use and/or may use in the future the following types of Cookies:
Essential Cookies. Essential Cookies are required for providing you with features or services that you have requested. For example, certain Cookies enable you to log into secure areas of our Site. Disabling these Cookies may make certain features and services unavailable.
Functional Cookies. Functional Cookies are used to record your choices and settings regarding our Site, maintain your preferences over time and recognize you when you return to our Site. These Cookies help us to personalize our content for you, greet you by name and remember your preferences (for example, your choice of language or region).
Performance/Analytical Cookies. Performance/Analytical Cookies allow us to understand how visitors use our Site such as by collecting information about the number of visitors to the Site, what pages visitors view on our Site and how long visitors are viewing pages on the Site. Performance/Analytical Cookies also help us measure the performance of our advertising campaigns in order to help us improve our campaigns and the Site’s content for those who engage with our advertising.
You can decide whether or not to accept Cookies through your internet browser’s settings. Most browsers have an option for turning off the Cookie feature, which will prevent your browser from accepting new Cookies, as well as (depending on the sophistication of your browser software) allow you to decide on acceptance of each new Cookie in a variety of ways. You can also delete all Cookies that are already on your device. If you do this, however, you may have to manually adjust some preferences every time you visit our website and some of the Site and functionalities may not work.
To find out more information about Cookies, including information about how to manage and delete Cookies, please visit https://ico.org.uk/for-the-public/online/cookies/ or http://www.allaboutcookies.org/.
We seek to protect your Personal Data from unauthorized access, use and disclosure using appropriate physical, technical, and administrative security measures and storage and processing practices based on the type of Personal Data.
Although we work to protect the security of your account and other data that we hold in our records, please be aware that no method of transmitting data or storing data over the Internet is completely secure. We cannot guarantee the complete security of any data you share with us, and except as expressly required by law, we are not responsible for the theft, destruction, loss or inadvertent disclosure of your information or content.
We retain Personal Data about you for as long as necessary to provide our Site and/or services to you, comply with our legal obligations, resolve disputes, or as otherwise permitted or required by applicable law, rule or regulation. When establishing a retention period for specific categories of data, we consider who we collected the data from, our need for the Personal Data, why we collected the Personal Data, and the sensitivity of the Personal Data.
For example, we retain your device/IP data for as long as we need it to ensure that our systems are working appropriately, effectively, and efficiently. We may further retain information in an anonymous or aggregated form where that information would not identify you personally.
PERSONAL DATA OF MINORS
We do not knowingly collect or solicit Personal Data about children under 16 years of age, except with parental consent. If we learn that we have collected personal information from an individual under the 16 years of age without parental consent, we will delete such information as quickly as possible. If you believe that a child under 16 years of age may have provided Personal Data to us, please contact us at email@example.com.
PRIVACY RIGHTS OF CALIFORNIA RESIDENTS
You have the right to request certain information about our collection and use of your Personal Data over the past 12 months, including the:
- Categories of Personal Data that we have collected about you.
- Specific pieces of Personal Data that we have collected about you.
- Categories of sources from which that Personal Data was collected.
- Business or commercial purpose for collecting your Personal Data.
- Categories of third parties with whom we have shared your Personal Data.
- Categories of Personal Data shared with third parties for a business purpose over the past 12 months, if applicable.
You have the right to request that we delete the Personal Data that we have collected about you, subject to certain exceptions under the CPRA: for example, we may need to retain your Personal Data to provide you with the Site or services or complete a transaction or other action you have requested, or if deletion of your Personal Data involves disproportionate effort. If your deletion request is subject to one of these exceptions, we may deny your deletion request.
You have the right to request that we correct any inaccurate Personal Data we have collected about you. Under the CPRA, this right is subject to certain exceptions: for example, if we decide, based on the totality of circumstances related to your Personal Data, that such data is correct. If your correction request is subject to one of these exceptions, we may deny your request.
Exercising Your CPRA Rights
To exercise the rights described above, you must send us a request that (1) provides sufficient information to allow us to verify that you are either the person about whom we have collected Personal Data or are an agent authorized by that person, and (2) describes your request in sufficient detail to allow us to understand, evaluate and respond to it. Each request that meets both of these criteria will be considered a “Valid Request.” We may not respond to requests that do not meet these criteria. We will only use Personal Data provided in a Valid Request to verify your identity and complete your request. You may submit a Valid Request by emailing us at firstname.lastname@example.org.
We will work to respond to your Valid Request within 45 days of receipt. We will not charge you a fee for making a Valid Request unless your Valid Request(s) is excessive, repetitive or manifestly unfounded. If we determine that your Valid Request warrants a fee, we will notify you of the fee and explain that decision before completing your request.
You may also authorize an agent (an “Authorized Agent”) to exercise your rights on your behalf. To do this, you must provide your Authorized Agent with written permission to exercise your rights on your behalf, and we may request a copy of this written permission from your Authorized Agent when they make a request on your behalf.
We Do Not Sell Your Personal Data
We will not “sell” your Personal Data, as that term is defined in the CPRA, and have not done so over the last 12 months. We also do not sell the Personal Data of minors under 16 years of age.
Personal Data Sharing Opt-Out and Opt-In
Under the CPRA, California residents have certain rights when a business “shares” Personal Data with third parties for purposes of cross-contextual behavioral advertising. We will not share your Personal Data for cross-contextual behavioral advertising, and have not done so over the last 12 months. To our knowledge, we do not share the Personal Data of minors under 16 years of age for purposes of cross-contextual behavioral advertising.
We Will Not Discriminate Against You for Exercising Your Rights Under the CPRA
We will not deny you access to our Site or provide you a lower quality of services if you exercise your rights under the CPRA. If you have any questions about this section or whether any of the above rights apply to you, please contact us at email@example.com.
PRIVACY RIGHTS OF OTHER UNITED STATES RESIDENTS
California Resident Rights
California residents are entitled to contact us to prevent disclosure of Personal Data to third parties for such third parties’ direct marketing purposes, under California Civil Code Sections 1798.83-1798.84. If you would like to submit such a request, please contact us at firstname.lastname@example.org.
Nevada Resident Rights
If you are a resident of Nevada, you have the right to opt-out of the sale of certain Personal Data to third parties who intend to license or sell that Personal Data. If you are a Nevada Resident, you can exercise this right by contacting us at email@example.com with the subject line “Nevada Do Not Sell Request” and providing us with your name. Please note that we do not currently sell your Personal Data as sales are defined in Nevada Revised Statutes Chapter 603A.
PRIVACY RIGHTS OF EUROPEAN UNION AND UNITED KINGDOM RESIDENTS
The Site is hosted and operated in the United States (“U.S.”) by us and through our service providers, and if you do not reside in the U.S., laws in the U.S. may differ from the laws where you reside. If you are a resident of the European Union (“EU”), United Kingdom, Lichtenstein, Norway, or Iceland, you may have additional rights under the EU or UK General Data Protection Regulation (collectively, the “GDPR”) with respect to your Personal Data, as outlined below. By using the Site, you acknowledge that any Personal Data about you, regardless of whether provided by you or obtained from a third party, is being provided to us in the U.S. and will be hosted on U.S. servers, and you authorize us to transfer, store and process your information to and in the U.S., and possibly other countries. You hereby consent to the transfer of your data to the U.S. pursuant to: (i) a data processing agreement incorporating standard data protection clauses promulgated by the European Commission, (ii) binding corporate rules for data protection that align with the GDPR’s requirements, or (iii) adherence to an industry- or technology-specific approved code of conduct blessed by the European Commission.
For this section, we use the terms “Personal Data” and “processing” as they are defined in the GDPR, but “Personal Data” generally means information that can be used to individually identify a person, and “processing” generally covers actions that can be performed in connection with data such as collection, use, storage and disclosure. We will be the controller of your Personal Data processed in connection with your use of the Site.
Personal Data Collection, Use and Disclosure
Legal Basis for Processing
We will only process your Personal Data if we have a lawful basis for doing so. Lawful bases for processing include consent, contractual necessity and our “legitimate interests” or the legitimate interest of others, as further described below.
Legitimate Interest. We process the following categories of Personal Data when we have a legitimate interest that is not outweighed by your privacy rights: Device/IP Data; Web Analytics; Other Identifying Information You Choose to Provide; We may also de-identify or anonymize Personal Data to further our legitimate interests.
Consent. In some cases, we process Personal Data based on the consent you expressly grant to us at the time we collect such data. When we process Personal Data based on your consent, it will be expressly indicated to you at the point and time of collection.
Other Processing Grounds. From time to time we may also need to process Personal Data to comply with a legal obligation, if it is necessary to protect the vital interests of you or other data subjects, or if it is necessary for a task carried out in the public interest.
EU and UK Data Subject Rights
You have certain rights with respect to your Personal Data, including those set forth below.
Access. You can request more information about the Personal Data we hold about you and request a copy of such Personal Data.
Rectification. If you believe that any Personal Data we are holding about you is incorrect or incomplete, you can request that we correct or supplement such data.
Erasure. You can request that we erase some or all of your Personal Data from our systems.
Withdrawal of Consent. If we are processing your Personal Data based on your consent (as indicated at the time of collection of such data), you have the right to withdraw your consent at any time.
Portability. You can ask for a copy of your Personal Data in a machine-readable format. You can also request that we transmit the data to another controller where technically feasible.
Objection. You can contact us to let us know that you object to the further use or disclosure of your Personal Data for certain purposes, such as for direct marketing purposes.
Restriction of Processing. You can ask us to restrict further processing of your Personal Data.
Right to File Complaint. You have the right to lodge a complaint about our practices with respect to your Personal Data with the supervisory authority of your country or EU Member State. A list of Supervisory Authorities is available here: https://edpb.europa.eu/about-edpb/board/members_en.
For more information about these rights, or to submit a request, please contact us at: firstname.lastname@example.org.
Please note that in some circumstances, we may not be able to fully comply with your request, such as if it is frivolous or extremely impractical, if it jeopardizes the rights of others, or if it is not required by law, but in those circumstances, we will still respond to notify you of such a decision. In some cases, we may also need to you to provide us with additional information, which may include Personal Data, if necessary to verify your identity and the nature of your request.