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 May 2026, Conversion Capital is an active investor, having invested in 48 companies, with 2 new investments 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 D round of Cognition Overall, Conversion Capital portfolio has seen 5 unicorns, 3 IPOs and 11 acquisitions including key companies like Blend, Convene and Improbable. A lot of funds co-invest with Conversion Capital, with names like Greylock Partners sharing a substantial percentage of its portfolio. Conversion Capital has team of 11 people including 1 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 3 more
Portfolio IPOs
Conversion Capital's List of Top Investments
Conversion Capital has a portfolio of 48 companies, including 5 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 E
- Total Funding till date: $2.44B
- Employee Count: 2,273 as on Apr 30, 2026
- Investors: equitywestsecurities.com, Goldman Sachs and 63 Others
- Latest Funding Round: Series E, Nov 17, 2025, $*****
- Highlight: Editors' Pick
2. Blend
Provider of digital solutions for mortgage, home equity, and consumer lending. The company offers a platform for financial institutions to streamline lending processes. It provides tools for loan origination, verification, and closing. The platform supports deposit accounts and consumer loans. It helps credit unions, banks, and mortgage providers improve customer experience.
Key facts about Blend
- Founded Year: 2012
- Location: San Francisco (United States)
- Annual Revenue: $124M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $685M
- Employee Count: 741 as on Apr 30, 2026
- Investors: HTIF, Owl Rock and 43 Others
- Latest Funding Round: Post IPO, Apr 29, 2024, $*****
- Highlight: Public
3. 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: 545 as on Mar 31, 2026
- Investors: ArrowMark Partners, Brookfield Asset Management and 21 Others
- Latest Funding Round: Conventional Debt, Mar 24, 2026, $*****
- Highlight: Acquired
4. 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: £1.22M as on May 31, 2019
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $937M
- Employee Count: 157 as on Apr 30, 2026
- Investors: Temasek, SoftBank Group and 43 Others
- Latest Funding Round: Series D, Oct 03, 2022, $*****
- Highlight: Editors' Pick
5. 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: 613 as on Apr 30, 2026
- Investors: Section Partners, Apollo Global Management and 51 Others
- Latest Funding Round: Conventional Debt, May 22, 2025, $*****
- Highlight: Public
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 May 2026, it has made 1 investment in this year. Its most recent first time investment was in Cognition and most recent follow-on round was in Amplify Life Insurance.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
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 Enterprise Infrastructure. Notably, it has invested in 46 Tech companies, 37 Enterprise (B2B) companies, 34 Software companies and at least 20 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 20 |
FinTech | 15 |
Vertical SaaS | 6 |
Consumer | 5 |
Enterprise Infrastructure | 5 |
Others | 24 |
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 1 investments in 2026 so far - Cognition.Here are the most recent investments by Conversion Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
May 27, 2026 | United States | Series D | 3272 | [+14] | |
Sep 17, 2025 | United States | Seed | 3963 | [+6] | |
Mar 26, 2025 | United States | Series A | 6576 | [+6] | |
Dec 13, 2022 | United States | Seed | 8551 | [+12] | |
Dec 05, 2022 | United States | Seed | 9765 | [+5] |
Unicorns in Conversion Capital's Portfolio
Conversion Capital has 5 unicorns in its portfolio - Cognition, Immuta, Qualia and others. The most recent unicorn in their portfolio is Cognition. It became a unicorn in 2024, 2 years before 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 |
|---|---|---|---|---|---|---|---|
70 | Developer of an AI software engineer designed to automate coding | 2023 | San Francisco | Series D | jbqyw{s | ||
63 | Data access governance and data marketplace platform | 2015 | Boston | Series E | qxicbbs | ||
70 | SaaS-driven title settlement platform for real estate professionals | 2015 | San Francisco | Series D | zihbrsg | ||
70 | Provider of AI platform delivering real-time event, threat, and risk intelligence | 2009 | New York City | Series F | khjkmgo | ||
75 | Developer of virtual world software and decentralized digital infrastructure platforms | 2012 | London | Series D | jnzlgzh |
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 | 2440 | |
Sep 11, 2025 | - | - | 8730 | |
Jul 16, 2021 | - | - | 7154 |
Acquired companies in Conversion Capital's Portfolio
11 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 | 7803 | |
May 22, 2024 | Aug 04, 2020 | Series A | 2827 | |
Apr 12, 2022 | May 19, 2016 | Series B | 5472 | |
Aug 18, 2021 | Aug 05, 2016 | Seed | 2261 | |
Apr 15, 2021 | - | - | 2807 |
Team profile of Conversion Capital
Conversion Capital has a team of 11 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 top 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, 330 investors have co-invested in Conversion Capital's portfolio companies. This includes funds and angels.
- Invested before Conversion Capital: Founders Fund, Neo and 69 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: 117 investors entered a company along with Conversion Capital. These include investors like Greylock Partners (3 companies).
- Invested after Conversion Capital: A total of 142 investors have invested in Conversion Capital's portfolio after their investments. Top Investors include Khosla Ventures (2 companies), Declaration Partners (2 companies) and Bessemer Venture Partners (2 companies).
Recent News related to Conversion Capital
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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
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Amplify Life Insurance Receives Investment Led by Munich Re VenturesFinSMEs•Oct 04, 2022•Amplify Life Insurance, Munich Re, Crosslink Capital, Greycroft and 1 other
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Digital-First Life Insurance coverage Platform Amplify Broadcasts New Funding Spherical Led by Munich Re Venturesinvestidollar.com•Oct 03, 2022•Munich Re, Amplify Life Insurance, Crosslink Capital, Greycroft and 1 other
