The Surrey Hotel in New York was an early adopter of the powerful Libra OnDemand software, which aids in "customer relationship management, " or CRM.

CNN: What your hotel knows about you

Some of the firms that are well-represented include Accel (Qlik, Riverbed), Apax (RealPage, IntraLinks), Battery Ventures (RealPage, ITA), Bessemer Venture Partners (Postini, Cornerstone), Index Ventures (Skype, MySQL), Insight Venture Partners ( SolarWinds, Divx), Meritech Capital Partners (Cornerstone OnDemand, Riverbed), and Spectrum Equity (RiskMetrics, ITA Software).

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Right now he favors software-as-a-service firms, including Salesforce.com and Cornerstone OnDemand, which tend to have less European exposure.

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Cornerstone OnDemand shares are trading lower Tuesday morning after Goldman Sachs analyst Greg Dunham this morning reduced his rating on the software-as-a-service company to Neutral from Buy.

FORBES: Cornerstone OnDemand: Goldman Cuts Rating On Valuation