About Conversion Capital
Conversion Capital is a venture capital firm founded in 2015. It is primarily based out of New York City, United States. As of Oct 2026, Conversion Capital is an active investor, having invested in 48 companies, with 1 new investment in the last 12 months. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to FinTech and High Tech. Most recently it participated in the $***** Series B round of Vesta Overall, Conversion Capital portfolio has seen 4 unicorns, 3 IPOs and 12 acquisitions including key companies like Improbable, Figure and Convene. A lot of funds co-invest with Conversion Capital, with names like Fifth Wall sharing a substantial percentage of its portfolio. Conversion Capital has team of 6 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 3 more
Portfolio IPOs
Deals in last 12 months
Conversion Capital's List of Top Investments
Conversion Capital has a portfolio of 48 companies, including 4 unicorns. Their most notable investments are in Booster and Booster.Their portfolio spans across United States and United Kingdom. They have invested in Enterprise Applications, FinTech, High Tech and 16 other sectors, across stages such as Seed, Series A and 3 more. Here is the list of top investments by Conversion Capital:
1. Ramp
Provider of a platform for spend management, corporate cards, and payables. The platform offers features such as expense management, accounts payable processing, and travel management. It also provides procurement and accounting automation capabilities. The platform aims to streamline financial operations and improve efficiency for finance teams.
Key facts about Ramp
- Founded Year: 2019
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $3.22B
- Employee Count: 6,209 as on Sep 30, 2026
- Investors: equitywestsecurities.com, T. Rowe Price and 73 Others
- Latest Funding Round: Series F, Jun 04, 2026, $*****
- Highlight: Editors' Pick
2. Improbable
Developer of virtual world software and decentralized digital infrastructure platforms. This business creates technology for building immersive environments, blockchain applications, and artificial intelligence systems. The software supports the creation of persistent digital spaces and automated enterprise workflows. These tools enable the development of interactive experiences and scalable network architectures for various digital applications.
Key facts about Improbable
- Founded Year: 2012
- Location: London (United Kingdom)
- Annual Revenue: £1M - £10M as on May 31, 2019
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $937M
- Employee Count: 354 as on Sep 30, 2026
- Investors: SoftBank Group, Temasek and 42 Others
- Latest Funding Round: Series D, Oct 03, 2022, $*****
- Highlight: Editors' Pick
3. Figure
Blockchain-based platform for consumer loans. It provides a blockchain-based platform for consumer loans. It offers loans such as personal loans, residential mortgage loans, home equity loans, mortgage refinancing loans, and more. It provides a blockchain-based platform for capital raising and fundraising. It also provides trading tools for startups and businesses in order to track and manage equities.
Key facts about Figure
- Founded Year: 2018
- Location: San Francisco (United States)
- Stage: Public
- Total Funding till date: $435M
- Employee Count: 651 as on Sep 30, 2026
- Investors: Section Partners, VII Ventures and 53 Others
- Latest Funding Round: Conventional Debt, May 22, 2025, $*****
- Highlight: Public
4. Baselane
Personal finance management software for landlords. It offers solutions for managing banking services, rent collections, expense management, cash flow analytics, and more. It provides a dashboard to monitor properties & leases, cash flows, bank accounts & credit card integrations; scheduling property tags; smart categorization; automated invoicing for rent collection, and more.
Key facts about Baselane
- Founded Year: 2013
- Location: New York City (United States)
- Stage: Series B
- Total Funding till date: $34.4M
- Employee Count: 80 as on Sep 30, 2026
- Investors: Conversion Capital, Deep Lake Capital and 11 Others
- Latest Funding Round: Series B, Oct 02, 2025, $*****
- Highlight: Editors' Pick
5. Convene
Hospitality-led venue network offering meeting, event, and flexible workspace solutions. It provides meeting rooms, event venues, and flexible office solutions for businesses and professionals. It combines high-end service, modern design, and integrated technology to support corporate meetings, conferences, and workplace needs across major cities worldwide, focusing on seamless guest experience, productivity, and business collaboration.
Key facts about Convene
- Founded Year: 2009
- Location: New York City (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $266M
- Employee Count: 551 as on Jul 31, 2026
- Investors: ArrowMark Partners, Boathouse Capital and 21 Others
- Latest Funding Round: Conventional Debt, Mar 24, 2026, $*****
- Highlight: Acquired
Conversion Capital's Year-on-Year Investment Trends
Conversion Capital has invested in 49 companies over the last 13 years, with an average of 2 new investments annually in the last 10 years. In 2025, it made 2 investments, while as of Oct 2026, it has made 2 investments in this year. Its most recent first time investment was in Cognition Technologies and most recent follow-on round was in Vesta.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 1 | 2 |
2025 | 2 | 0 | 2 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 7 | 4 | 11 |
2021 | 3 | 1 | 4 |
2020 | 3 | 1 | 4 |
2019 | 0 | 1 | 1 |
2018 | 0 | 0 | 0 |
2017 | 2 | 0 | 2 |
Conversion Capital's Investments by Stage
Conversion Capital has made 12 investments in Seed stage with an average round size of $5.27M, 11 investments in Series A stage with an average round size of $11.6M, 3 investments in Series B stage with an average round size of $19M, 2 investments in Series C stage with an average round size of $180M and 1 investment in Series D stage with an average round size of $1B.Stage of entry | No. of Investments |
|---|---|
Seed | 12 |
Series A | 11 |
Series B | 3 |
Series C | 2 |
Series D | 1 |
Note: We have considered here, only first round of investments
Conversion Capital's Investments by Sector
Conversion Capital has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, Vertical SaaS, Consumer and InsurTech. Notably, it has invested in 46 Tech companies, 38 Enterprise (B2B) companies, 35 Software companies and at least 21 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 21 |
FinTech | 14 |
Vertical SaaS | 6 |
Consumer | 5 |
InsurTech | 5 |
Others | 22 |
Note: We have considered here, only first round of investments
Conversion Capital's Investments by Geography
Conversion Capital has made most investments in United States (27), followed by United Kingdom where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 27 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Conversion Capital's recent investments
Conversion Capital has made 2 investments in 2026 so far - Vesta and Cognition Technologies.Here are the most recent investments by Conversion Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 08, 2026 | United States | Series B | 3475 | [+3] | |
May 27, 2026 | United States | Series D | 4317 | [+16] | |
Sep 17, 2025 | United States | Seed | 7905 | [+6] | |
Mar 26, 2025 | United States | Series A | 2852 | [+6] | |
Dec 13, 2022 | United States | Seed | 5997 | [+12] |
Unicorns in Conversion Capital's Portfolio
Conversion Capital has 4 unicorns in its portfolio - Immuta, Qualia, Dataminr and others. The most recent unicorn in their portfolio is Immuta. It became a unicorn in 2022, 5 years after Conversion Capital first invested in it.Here is a list of unicorns in Conversion Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
63 | Data access governance and data marketplace platform | 2015 | Boston | Series E | ks{xfoj | ||
71 | Developer of real estate closing platforms and title insurance software | 2015 | San Francisco | Series D | lbdtkyi | ||
70 | Provider of AI platform delivering real-time event, threat, and risk intelligence | 2009 | New York City | Series F | nyxlwsr | ||
78 | Developer of venture building services for artificial intelligence and metaverse | 2012 | London | Series D | hpmviah |
IPOs and Publicly Listed companies in Conversion Capital's Portfolio
3 of Conversion Capital's portfolio companies have become public. FiscalNote got listed on the OTC Markets (OTCMKTS), in Apr 2026 and Figure got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $4.34B.Here are Conversion Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 06, 2026 | Feb 01, 2016 | Series C | 4619 | |
Sep 11, 2025 | - | - | 8080 | |
Jul 16, 2021 | - | - | 9881 |
Acquired companies in Conversion Capital's Portfolio
12 companies from Conversion Capital's portfolio have been acquired. The most recent acquisition was Frame in Dec 2024 by HubSpot for $*****.Here are Conversion Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 06, 2024 | Oct 18, 2016 | Seed | 4129 | |
May 22, 2024 | Aug 04, 2020 | Series A | 7164 | |
Apr 12, 2022 | May 19, 2016 | Series B | 5343 | |
Aug 18, 2021 | Aug 05, 2016 | Seed | 1536 | |
Apr 15, 2021 | - | - | 6549 |
Team profile of Conversion Capital
Conversion Capital has a team of 6 members including 1 Partner, 1 Venture Partner and 2 Principals located in United States. Conversion Capital's team sits on the board of 2 companies.Here is a list of all team members in Conversion Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | New York City | - | ||
Venture Partner | - | - | - | |
Principal | Brooklyn | - | - | |
Principal | Boston | - |
Co-investors of Conversion Capital
Over the past 13 years, 354 investors have co-invested in Conversion Capital's portfolio companies. This includes funds and angels.
- Invested before Conversion Capital: Founders Fund, Neo and 74 others have invested in rounds before Conversion Capital. There are 3 companies where Founders Fund has invested before Conversion Capital and 2 companies where Neo has invested before Conversion Capital.
- Top Co-investors of Conversion Capital: 118 investors entered a company along with Conversion Capital. These include investors like Fifth Wall (3 companies).
- Invested after Conversion Capital: A total of 160 investors have invested in Conversion Capital's portfolio after their investments. Top Investors include Bessemer Venture Partners (3 companies), Khosla Ventures (2 companies) and Greylock Partners (2 companies).
Recent News related to Conversion Capital
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Vesta raises $30M to bring AI agents to mortgage lendersTechCrunch+•Oct 08, 2026•Vesta, Conversion Capital
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AI Startup Cognition Raises Over $1 Billion at $26 Billion ValuationTechPortal•May 27, 2026•Cognition, 8VC, General Catalyst, Lux Capital and 19 others
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Temporal raises $146M for its application reliability platformSiliconAngle•Apr 01, 2025•Temporal, Tiger Global Management, Index Ventures, Sequoia Capital and 7 others
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Citi invests in mortgage infrastructure platform PylonFinextra•Nov 26, 2024•Citi, Pylon, Pylon, Citi and 4 others
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Insurtech Company Oyster Raises $3.6M Seed to Launch Its Point-of-Sale Platform for Personal InsuranceFintech Finance•Dec 13, 2022•Oyster Technologies, New Stack Ventures, Cambrian Ventures, Global Founders Capital and 7 others
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Venture capital giants like Pylon’s embeddable mortgage offeringInman•Dec 07, 2022•Pylon, Conversion Capital, Blend, Figure and 5 others
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Pylon Closes $8.5M Seed Round to Build the Embedded Mortgage Infrastructure PlatformACROFAN•Dec 05, 2022•Pylon, Conversion Capital, Fifth Wall, Thiel Capital and 9 others
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Cloudflare’s “Workers Launchpad” Funding Program Grows to $2 Billion, Announces First Cohort of StartupsBusiness Wire•Nov 17, 2022•CloudFlare, 8VC, AirTree, Alumni Ventures and 8 others
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Haven Raises $8 Million Series A to Scale Tech-Enabled Mortgage Servicing InfrastructureBusiness Wire•Nov 01, 2022•Haven, Fifth Wall, Fidelity National Financial, RWT Horizons and 5 others
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Payable raises $6M to build the modern infrastructure of money movementTech Funding News•Oct 11, 2022•Payable, Earlybird, Conversion Capital, Clocktower Ventures and 1 other
