Ted Schlein

Partner and Advisor

Ted Schlein is a partner at Kleiner Perkins, and executive chairman and founding partner at Ballistic Ventures. He has spent the last 35 years helping create transformative companies.

A Midas of investing and the former chairman of the National Venture Capital Association (NVCA), Ted has funded, supported, and guided more than 30 founders to successful company exits including ArcSight, Chegg, Fortify Software, IronNet Cybersecurity, Jive, LifeLock and Segment. He currently serves on the boards of Apiiro, Area 1 Security, Bedrock, Chegg (CHGG), FullStory, Interos, Incorta, IronNet, Rebellion Defense, Reputation, Synack, Trusona and UJet.

Ted is regularly called on to advise government leaders as they navigate society’s digital infrastructure. He is an active member of the CISA Cybersecurity Advisory Committee, National Security Institute Advisory Board, and also the Council on Foreign Relations, Independent Task Force on Cybersecurity.

As a company leader, Ted was the founding CEO of Fortify Software, which was later acquired by Hewlett-Packard. During his time at Symantec, Ted led the company’s earliest antivirus effort, which included a move into the software utilities market with the launch of a commercial antivirus solution that became the industry gold standard.

Ted serves on the Board of Trustees, as well as the Dean’s Board of Advisors of the Engineering School at the University of Pennsylvania, his alma mater. Ted holds a bachelor’s degree in economics from the University of Pennsylvania.

Awards and Honors

— NSA Advisory Board

— CISA Cybersecurity Advisory Committee

— Homeland Security Advisory Council, National Security Institute Advisory Board

— Council on Foreign Relations

— Independent Task Force on Cybersecurity

— Board of Trustees at InQTel

— Board of Trustees of University of Pennsylvania

— Dean of Advisors of Engineering School at University of Pennsylvania

— National Venture Capital Association (NVCA)

— Western Association of Venture Capitalists

Companies Backed

A new approach to application security logo
A new approach to application security
Since 2020
Unbreakable foundation for formally secured computing logo
Unbreakable foundation for formally secured computing
Since 2020
Digital experience intelligence (DXI) platform logo
Digital experience intelligence (DXI) platform
Since 2015
Open data delivery platform logo
Open data delivery platform
Since 2018
Supply chain resilience & risk management logo
Supply chain resilience & risk management
Since 2020
The modern mission stack logo
The modern mission stack
Since 2019
The online reputation management platform logo
The online reputation management platform
Since 2010
Premier security testing platform logo
Premier security testing platform
Since 2014
Passwordless authentication logo
Passwordless authentication
Since 2015
Reimagined contact center solutions logo
Reimagined contact center solutions
Since 2018
Physical security & secure identification logo
Physical security & secure identification
Alumni (Acquired by Identiv)
Device identification technology logo
Device identification technology
Alumni (Acquired by Experian)
Democratizing threat detection and response logo
Democratizing threat detection and response
Alumni (Acquired by AT&T)
Security & compliance management logo
Security & compliance management
Alumni (Acquired by Hewlett-Packard)
Zero Trust protection logo
Zero Trust protection
Alumni (Acquired by Cloudflare)
Cloud-native endpoint protection logo
Cloud-native endpoint protection
Alumni (CBLK)
A smarter way to student logo
A smarter way to student
Alumni (CHGG)
Single-purpose container operating system technology logo
Single-purpose container operating system technology
Alumni (Acquired by Red Hat)
Software management services logo
Software management services
Alumni (Acquired by IBM)
Business intelligence platform logo
Business intelligence platform
Alumni (Acquired by Salesforce)
Endpoint security logo
Endpoint security
Alumni (Acquired by Elastic)
Automated static code analysis logo
Automated static code analysis
Alumni (Acquired by Hewlett-Packard)
Luxury vacations made easy logo
Luxury vacations made easy
Alumni (ISPO)
Security software & managed security services logo
Security software & managed security services
Alumni (Acquired by IBM)
Establishing trust, one transaction at a time logo
Establishing trust, one transaction at a time
Alumni (Acquired by Twilio)
Collective defense platform logo
Collective defense platform
Alumni (IRNT)
Marketplace for heavy equipment & durable assets logo
Marketplace for heavy equipment & durable assets
Alumni (Acquired by Ritchie Bros)
Cloud-native autonomous security operations center software logo
Cloud-native autonomous security operations center software
Alumni (Acquired by Sumo Logic)
Enterprise collaboration solutions logo
Enterprise collaboration solutions
Alumni (Acquired by Aurea Software)
Enterprise management solutions logo
Enterprise management solutions
Alumni (Acquired by Deem)
Identity theft prevention software logo
Identity theft prevention software
Alumni (Acquired by Symantec)
Incident response & remediation logo
Incident response & remediation
Alumni (Acquired by FireEye)
Cybersecurity and data leakage prevention systems logo
Cybersecurity and data leakage prevention systems
Alumni (Acquired by Raytheon Co.)
Security Orchestration, Automation & Response logo
Security Orchestration, Automation & Response
Alumni (Acquired by Splunk)
Relationship intelligence platform logo
Relationship intelligence platform
Alumni (Acquired by Salesforce)
Customer data platform logo
Customer data platform
Alumni (Acquired by Twilio)
Online fraud & abuse prevention logo
Online fraud & abuse prevention
Alumni (Acquired by F5)

Q&A

As a teenager, I became an unofficial Apple product tester, thanks to my dad, who was on the Apple board. I played for hours on the Apple II, IIE, IIC, the Macintosh 128K and 512K, the Macintosh Plus, the Lisa and a LaserWriter. This early exposure to computers created an abiding enthusiasm for technology.

In 1982, I met Arthur Rock, a VC pioneer. He also was on the Apple board, and I got the chance to meet him traveling with my dad to see the opening of Apple’s factory in Cork, Ireland. Rock was a legend, and though it wasn’t a long conversation, he left a lasting impression. I tucked away “venture capital” with an inkling I’d come back to it at some point in the future.

While my college friends rushed off to internships on Wall Street, I spent every summer working for tech companies. First, Trace Systems, a personal robotics company, and then T/Maker, a spreadsheet company run by Heidi Roizen. At school, at the University of Pennsylvania, I continued feeding my interest in technology, starting a resume company with my Mac and LaserWriter printer. I also worked on a fledgling software company that started at Wharton, and I got a credit for it from my Econ professor. After graduation, I took a job at Symantec, a new Kleiner Perkins-backed company with 50 people and no revenues. I was off to the races.

There’s nothing more exhilarating than working with a team of passionate, smart people to solve a problem and improve how something works. In my area of focus—cybersecurity—it’s to make the world a safer place. I’m so proud to see Symantec, 25 years after I worked there, still protecting businesses from cyber attacks.

To understand why I love venture capital, you only have to look at the story of Fortify Software.

In 2002, I had an idea for a business that was timely and appeared to have no competition: a static code analysis tool that could identify security vulnerabilities in code and remove them to immunize software. After a year in the Kleiner Perkins basement, we launched the company. Seven years later, with a great product and a strong market traction, Fortify was acquired by HP. Fortify illustrates what defines being a venture capitalist: You are part entrepreneur, part investor and part business advisor.

Perspectives