About Conviction
Conviction is a venture capital firm founded in 2022. It is primarily based out of San Francisco, United States. As of Oct 2026, Conviction is an active investor, having invested in 65 companies, with 27 new investments in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it participated in the $***** Seed round of Watchtower Overall, Conviction portfolio has seen 11 unicorns and 6 acquisitions including key companies like Mistral AI, OpenEvidence and Harvey. A lot of funds co-invest with Conviction, with names like Sequoia Capital sharing a substantial percentage of its portfolio. Conviction has team of 2 people including 2 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 3 more
Portfolio Acquisitions
Portfolio Unicorns
Deals in last 12 months
Conviction's List of Top Investments
Conviction has a portfolio of 65 companies, including 11 unicorns. Their most notable investments are in Corridor and Trajectory.Their portfolio spans across United States, United Kingdom, France and 2 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 15 other sectors, across stages such as Seed, Series A and 3 more. Here is the list of top investments by Conviction:1. Mistral AI
Provider of customizable, open-source artificial intelligence models and solutions for various applications. It is a company specializing in open-source large language models and generative AI, providing cutting-edge language models for various applications.
Key facts about Mistral AI
- Founded Year: 2023
- Location: Paris (France)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $6.54B
- Employee Count: 1,759 as on Sep 30, 2026
- Investors: Redpoint Ventures, BNP Paribas and 63 Others
- Latest Funding Round: Series D, Sep 08, 2026, $*****
- Highlight: Editors' Pick
2. OpenEvidence
AI powered medical search platform for healthcare professionals. It aggregates, synthesizes, and visualizes clinically relevant evidence in a format. It aims to provide healthcare professionals with accurate and access to medical information, supporting informed decision making in clinical practice. It provides solutions to enhance the accessibility and usability of peer reviewed medical literature for healthcare professionals.
Key facts about OpenEvidence
- Founded Year: 2021
- Location: Miami (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $985M
- Employee Count: 145 as on Sep 30, 2026
- Investors: Meritech, VenCap International and 24 Others
- Latest Funding Round: Series D, Sep 28, 2026, $*****
3. Harvey
Provider of an AI software for legal and professional services. It allows users to ask question in natural language, and the AI generates answers based on user speicifications. The AI performs research to find relevant case law, statutes, and regulations to support legal arguments. It offers services including legal research and analysis, contract analysis, litigation support, regulatory compliance, and more.
Key facts about Harvey
- Founded Year: 2022
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series H
- Total Funding till date: $1.82B
- Employee Count: 1,950 as on Sep 30, 2026
- Investors: T. Rowe Price, Goldman Sachs and 28 Others
- Latest Funding Round: Series H, Aug 28, 2026, $*****
- Highlight: Editors' Pick
Platform offering low code based ML powered application development software. It provides a library of pre trained models and allows users to create or deploy existing TensorFlow, PyTorch, or Scikit learn models, without coding. It offers drag and drop tools, integration, interactive web apps, and analytics solutions. It provides content moderation, data labeling, model evaluation, and classifying solutions.
Key facts about Baseten Technologies
- Founded Year: 2019
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $2.08B
- Employee Count: 459 as on Sep 30, 2026
- Investors: Sapphire Ventures, CapitalG and 31 Others
- Latest Funding Round: Series F, Jun 22, 2026, $*****
- Highlight: Editors' Pick
5. Cognition AI
Developer of autonomous software engineering agents that write production code. These agents plan, test, and deploy software by integrating directly into existing development environments and workflows. The technology assists engineers by managing repetitive coding tasks, allowing users to focus on system design and problem solving. Additionally, the organization maintains benchmarks to evaluate the quality and mergeability of code generated by artificial intelligence models.
Key facts about Cognition AI
- Founded Year: 2023
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $4.1B
- Employee Count: 653 as on Sep 30, 2026
- Investors: T. Rowe Price, Vitruvian Partners and 41 Others
- Latest Funding Round: Series E, Sep 08, 2026, $*****
- Highlight: Editors' Pick
Conviction's Year-on-Year Investment Trends
Conviction has invested in 65 companies over the last 3 years, with an average of 19 new investments annually in the last 3 years. In 2025, it made 27 investments, while as of Oct 2026, it has made 32 investments in this year. Its most recent first time investment was in Watchtower and most recent follow-on round was in Harvey.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 22 | 10 | 32 |
2025 | 25 | 2 | 27 |
2024 | 11 | 1 | 12 |
2023 | 4 | 0 | 4 |
Conviction's Investments by Stage
Conviction has made 32 investments in Seed stage with an average round size of $78.5M, 22 investments in Series A stage with an average round size of $55.2M, 5 investments in Series B stage with an average round size of $132M, 2 investments in Series C stage with an average round size of $85M and 1 investment in Series D stage with an average round size of $300M.Stage of entry | No. of Investments |
|---|---|
Seed | 32 |
Series A | 22 |
Series B | 5 |
Series C | 2 |
Series D | 1 |
Note: We have considered here, only first round of investments
Conviction's Investments by Sector
Conviction has a diverse portfolio, with companies operating in the Enterprise Applications, High Tech, Artificial Intelligence - Industry Applications, Consumer and Vertical SaaS. Notably, it has invested in 60 Tech companies, 56 Enterprise (B2B) companies, 53 Software companies and at least 35 companies focusing on AI-Native.Sector | No. of Investments |
|---|---|
Enterprise Applications | 46 |
High Tech | 24 |
Artificial Intelligence - Industry Applications | 9 |
Consumer | 6 |
Vertical SaaS | 6 |
Others | 32 |
Note: We have considered here, only first round of investments
Conviction's Investments by Geography
Conviction has made most investments in United States (54), followed by United Kingdom where it has made 4 investments.Country | No. of Investments |
|---|---|
United States | 54 |
United Kingdom | 4 |
France | 1 |
Israel | 1 |
Mexico | 1 |
Note: We have considered here, only first round of investments
Conviction's recent investments
Conviction has made 32 investments in 2026 so far. Watchtower and Scuba.app are the latest among them.Here are the most recent investments by Conviction:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 21, 2026 | United States | Seed | 5549 | [+1] | |
Oct 13, 2026 | United States | Seed | 7165 | [+4] | |
Sep 18, 2026 | United States | Series A | 9080 | ||
Aug 28, 2026 | United States | Series H | 4566 | [+12] | |
Aug 26, 2026 | Mexico | Seed | 9300 | [+3] |
Unicorns in Conviction's Portfolio
Conviction has 11 unicorns in its portfolio - Fractile, Applied Compute, Sunday and others. The most recent unicorn in their portfolio is Fractile. It became a unicorn in 2026.Here is a list of unicorns in Conviction's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
64 | Developer of AI chips for running large AI models | 2022 | London | Series C | dhjfv{{ | ||
61 | Provider of AI-powered agents for company-specific data and workflows | 2025 | San Francisco | Series C | wn{dunm | ||
58 | Developer of a home robot designed to perform household tasks | 2024 | Mountain View | Series B | dekewyh | ||
67 | Developer of AI-powered enterprise service management and automation solutions | 2024 | San Francisco | Series C | ocoyfsl | ||
73 | Developer of tools for building, testing, and deploying AI agent applications | 2022 | San Francisco | Series B | cxhwikf |
Acquired companies in Conviction's Portfolio
6 companies from Conviction's portfolio have been acquired. The most recent acquisition was Listen Labs in Sep 2026 by Salesforce for $*****.Here are Conviction's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 29, 2026 | Jan 16, 2026 | Series B | 2334 | |
Jun 30, 2026 | Jul 24, 2024 | Series A | 8695 | |
Apr 29, 2026 | Oct 09, 2024 | Seed | 9749 | |
Jun 03, 2025 | Jan 11, 2023 | Seed | 3901 | |
Feb 24, 2025 | Oct 03, 2024 | Series A | 9335 |
Team profile of Conviction
Conviction has a team of 2 members including 2 Partners located in United States. Conviction's team sits on the board of 2 companies.Co-investors of Conviction
Over the past 3 years, 464 investors have co-invested in Conviction's portfolio companies. This includes funds and angels.
- Invested before Conviction: Sequoia Capital, Y Combinator and 71 others have invested in rounds before Conviction. There are 4 companies where Sequoia Capital has invested before Conviction and 3 companies where Y Combinator has invested before Conviction.
- Top Co-investors of Conviction: 253 investors entered a company along with Conviction. These include investors like Sequoia Capital (7 companies).
- Invested after Conviction: A total of 138 investors have invested in Conviction's portfolio after their investments. Top Investors include Nvidia (7 companies), Andreessen Horowitz (5 companies) and Bond Capital (4 companies).
Recent News related to Conviction
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Serval Secures $150M Funding at $3B Valuation to Expand Automation Agents Beyond ITSiliconAngle•Oct 29, 2026•Serval, Sequoia Capital, Conviction, General Catalyst and 5 others
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Watchtower Labs launches with $35M to apply AI to military logisticsGeekWire•Oct 22, 2026•Shield Capital, Watchtower, Conviction, Founders Fund
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NewDays AI Dementia Care Platform Raises $16M Seed Round, Expands to NevadaGeekWire•Sep 02, 2026•Madrona, NewDays, General Catalyst, Conviction and 4 others
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Enigma Raises $70M in Seed Funding Led by Index Ventures and Ribbit CapitalCryptocurrency•Jul 27, 2026•Ribbit Capital, Enigma, Index Ventures, Conviction and 6 others
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Tomo Raises $5 Million in Seed Funding Led by Bain Capital VenturesThe SaaS News•Jun 26, 2026•Tomo, Conviction, Basis Set Ventures, Angel Investors and 3 others
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AI Inference Startup Baseten Reportedly Raising $1.5B Months After Last Mega RoundTechCrunch+•Jun 19, 2026•Altimeter Capital, Spark Capital, Wellington, Baseten Technologies and 5 others
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Adaptive Innovations Raises $50M Series A for AI-Native Home HealthcareThe SaaS News•Jun 04, 2026•Felicis Ventures, Bain Capital Ventures, Conviction, Constellation and 5 others
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AI Startup Collate Raises $95 Million To Automate Life Sciences PaperworkForbes•Jun 03, 2026•Redpoint Ventures, First Round Capital, Collate, Conviction and 2 others
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Fractile Secures $220M for AI Chips Amidst Intense Market DemandStartupHub.ai•May 13, 2026•Fractile, Factorial Funds, Founders Fund, Accel and 6 others
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Nova Intelligence Raises $31.5M Series A for SAP AI MigrationNewsdirectory3•May 07, 2026•Chemistry VC, Nova Intelligence, Nova Intelligence, Conviction and 2 others
