About Bay Partners
Bay Partners is a venture capital firm founded in 1976. It is primarily based out of Menlo Park, United States. As of Oct 2021, Bay Partners has invested in 126 companies. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Enterprise Infrastructure and Consumer. Most recently it participated in the $***** Series B round of Coconut Software Overall, Bay Partners portfolio has seen 1 unicorn, 10 IPOs and 67 acquisitions including key companies like Cornerstone, Lending Club and Enphase Energy. A lot of funds co-invest with Bay Partners, with names like Foundation Capital sharing a substantial percentage of its portfolio. Bay Partners has team of 4 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 6 more
Portfolio Acquisitions
Portfolio Unicorns
Bay Partners' List of Top Investments
Bay Partners has a portfolio of 126 companies, one of which is a Unicorn. Their most notable investments are in Cswitch and Tealeaf.Their portfolio spans across United States, Canada, India and 9 more locations. They have invested in Enterprise Applications, Enterprise Infrastructure, Consumer and 26 other sectors, across stages such as Series A, Series B and 6 more. Here is the list of top investments by Bay Partners:
1. Cornerstone
Provider of a platform for talent experience and workforce agility. The platform offers learning management, career development, performance management, and recruiting capabilities. It also provides skills transformation, workforce intelligence, and solutions for various industries. The platform aims to help organizations build a skilled and agile workforce.
Key facts about Cornerstone
- Founded Year: 1999
- Location: Santa Monica (United States)
- Stage: Acquired
- Total Funding till date: $64.4M
- Employee Count: 4,239 as on Jul 31, 2026
- Investors: Meritech, Silver Lake and 16 Others
- Latest Funding Round: Post IPO, Nov 08, 2017, $*****
- Highlight: Acquired
2. Lending Club
P2P marketplace for consumer and business loans. It offers multiple loans including personal loans, refinancing loans, healthcare loans, SME loans, and more. It offers loans to borrowers from multiple institutional/individual investors and lenders. Loans are offered on the basis of credit assessments and user profiles.
Key facts about Lending Club
- Founded Year: 2006
- Location: San Francisco (United States)
- Annual Revenue: $500M - $1B as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $219M
- Employee Count: 1,414 as on May 31, 2026
- Investors: TrueBridge, Section Partners and 46 Others
- Latest Funding Round: Post IPO, Oct 18, 2016, $*****
- Highlight: Public
Manufacturer of micro-inverter and energy storage systems. It offers a solar monitoring tool which allows customers to monitor the solar energy production and consumption. Its products include microinverters, batteries, accessories, and more.
Key facts about Enphase Energy
- Founded Year: 2006
- Location: Fremont (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $100M
- Employee Count: 2,973 as on Jul 31, 2026
- Investors: Gynther Capital, Western Alliance Bank and 16 Others
- Latest Funding Round: Post IPO, Feb 25, 2021, $*****
- Highlight: Public
4. Guidewire
Developer of software platforms for property and casualty insurance operations. These systems manage core insurance functions including policy administration, claims processing, billing, and underwriting. The technology integrates data analytics and artificial intelligence to automate workflows and support decision-making processes for insurance carriers. Additional tools facilitate digital engagement and cloud-based infrastructure management for the insurance lifecycle.
Key facts about Guidewire
- Founded Year: 2001
- Location: San Mateo (United States)
- Annual Revenue: $1B+ as on Jul 31, 2025
- Stage: Public
- Employee Count: 4,388 as on Jul 31, 2026
- Investors: Sprout Capital Partners, NISA and 7 Others
- Latest Funding Round: Post IPO, Mar 19, 2018, $*****
- Highlight: Public
Developer of online skill-based games across multiple platforms and genres. The company develops and provides access to various skill-based games. These games span across different categories and are available on multiple platforms. The company focuses on creating engaging gaming experiences for its users.
Key facts about Junglee Games
- Founded Year: 2010
- Location: Delhi (India)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2025
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $1.94M
- Employee Count: 981 as on Aug 31, 2025
- Investors: 500 Global, Velo Partners and 3 Others
- Latest Funding Round: Series A, Mar 12, 2014, $*****
- Highlight: Acquired
Bay Partners' Year-on-Year Investment Trends
Bay Partners has invested in 126 companies over the last 27 years, with an average of 0 new investment annually in the last 10 years. Its most recent first time investment was in Coconut Software and most recent follow-on round was in Coconut Software.Bay Partners' Investments by Stage
Bay Partners has made 29 investments in Series A stage with an average round size of $9.5M, 27 investments in Series B stage with an average round size of $19.4M and 7 investments in Series C stage with an average round size of $18.9M.Stage of entry | No. of Investments |
|---|---|
Series A | 29 |
Series B | 27 |
Series C | 7 |
Series D | 2 |
Convertible Debt | 1 |
Others | 3 |
Note: We have considered here, only first round of investments
Bay Partners' Investments by Sector
Bay Partners has a diverse portfolio, with companies operating in the Enterprise Applications, Enterprise Infrastructure, Semiconductors, Consumer and FinTech. Notably, it has invested in 82 Enterprise (B2B) companies, 79 Tech companies, 50 Software companies and at least 26 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 26 |
Enterprise Infrastructure | 15 |
Semiconductors | 10 |
Consumer | 7 |
FinTech | 6 |
Others | 39 |
Note: We have considered here, only first round of investments
Bay Partners' Investments by Geography
Bay Partners has made most investments in United States (60), followed by United Kingdom where it has made 2 investments.Country | No. of Investments |
|---|---|
United States | 60 |
United Kingdom | 2 |
Canada | 1 |
China | 1 |
India | 1 |
Others | 2 |
Note: We have considered here, only first round of investments
Bay Partners' recent investments
Bay Partners has not made any investment in 2026 so far.Here are the most recent investments by Bay Partners:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 05, 2021 | Canada | Series B | 9997 | [+3] | |
Nov 26, 2019 | Canada | Series A | 7973 | [+5] | |
Nov 07, 2017 | Canada | Series A | 9980 | ||
May 13, 2015 | United States | Series G | 6441 | [+11] | |
May 30, 2014 | United States | Series E | 3630 | [+7] |
Unicorns in Bay Partners' Portfolio
Bay Partners has 1 unicorn in its portfolio - MuleSoft. The most recent unicorn in their portfolio is MuleSoft which became a unicorn in 2015, 5 years after Bay Partners first invested in it.Here is a list of unicorns in Bay Partners' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
61 | Cloud based API management platform | 2006 | San Francisco | Series G | qsznbcd |
IPOs and Publicly Listed companies in Bay Partners' Portfolio
10 of Bay Partners' portfolio companies have become public. Exodus got listed on the American Stock Exchange (NYSEAMERICAN), in Sep 2021 and Dynatrace got listed on the New York Stock Exchange (NYSE) at marketcap of $4.41B.Here are Bay Partners' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 16, 2021 | - | - | 5703 | |
Aug 02, 2019 | Aug 06, 2008 | Series B | 7191 | |
Jul 26, 2019 | Oct 06, 2006 | Series B | 9129 | |
Feb 12, 2018 | - | - | 5345 | |
Dec 11, 2014 | - | - | 9358 |
Acquired companies in Bay Partners' Portfolio
67 companies from Bay Partners' portfolio have been acquired. The most recent acquisition was Convoy in Jul 2025 by DAT Solutions for $*****.Here are Bay Partners' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 28, 2025 | - | - | 8115 | |
Nov 06, 2021 | Jun 18, 2002 | Series A | 5422 | |
Aug 05, 2021 | Sep 17, 2007 | Series B | 4377 | |
Mar 04, 2021 | - | - | 6617 | |
Jan 07, 2020 | Jul 10, 2007 | Series A | 4089 |
Team profile of Bay Partners
Bay Partners has a team of 4 members located in United States. Bay Partners' team sits on the board of 1 company.Co-investors of Bay Partners
Over the past 27 years, 332 investors have co-invested in Bay Partners's portfolio companies. This includes funds and angels.
- Invested before Bay Partners: Lightspeed Venture Partners, Morgenthaler and 33 others have invested in rounds before Bay Partners. There are 2 companies where Lightspeed Venture Partners has invested before Bay Partners and 2 companies where Morgenthaler has invested before Bay Partners.
- Top Co-investors of Bay Partners: 136 investors entered a company along with Bay Partners. These include investors like Foundation Capital (4 companies).
- Invested after Bay Partners: A total of 161 investors have invested in Bay Partners's portfolio after their investments. Top Investors include IVP (4 companies), Meritech (2 companies) and Salesforce Ventures (2 companies).
Recent News related to Bay Partners
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Coconut Software Closes $28M CAD Series B Funding Round, Led by Klass CapitalGlobeNewswire•Oct 05, 2021•Coconut Software, Klass Capital, Information Venture Partners, ScaleUP Ventures and 3 others
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Coconut Software Closes $28M Series B Funding Round, Led by Klass CapitalCoconut Software•Oct 05, 2021•Coconut Software, Klass Capital, Information Venture Partners, ScaleUP Ventures and 3 others
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South LA Development Site Sells for $35 MillionLos Angeles Business Journal•Jul 20, 2020•, Bay Partners
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Coconut Software Rasies Additional $6.5 Million Cad In Series A FundingBetaKit•Nov 27, 2019•Coconut Software, Conexus Credit Union, SaskWorks, Information Venture Partners and 3 others
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MuleSoft’s Massive $128M Round Could Be Precursor To IPOTechCrunch+•May 19, 2015•MuleSoft, Cisco Investments, ServiceNow, Morgenthaler and 10 others
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Apigee raises $35M in funding from BlackRock | VatorNewsVator•Jul 31, 2013•Apigee, Accenture, Bay Partners, Norwest Venture Partners and 4 others
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Covestor Receives $12.75 Mln in Series B Financing - PE HubPE Hub•Jun 13, 2013•Covestor, Union Square Ventures, Spark Capital, Amadeus Capital and 1 other
