About Eleven
Eleven is a venture capital firm founded in 2012. It is primarily based out of Sofia, Bulgaria. As of Apr 2026, Eleven is an active investor, having invested in 71 companies, with 2 new investments in the last 12 months. It primarily invests in Seed round in Bulgaria 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 nFuse AI Overall, Eleven portfolio has seen 1 unicorn and 5 acquisitions including key companies like Payhawk, Vulcan and Quantive. A lot of funds co-invest with Eleven, with names like BrightCap Ventures sharing a substantial percentage of its portfolio. Eleven has team of 10 people including 4 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Eleven's List of Top Investments
Eleven has a portfolio of 71 companies, one of which is a Unicorn. Their most notable investments are in Blue Longevity and Kool and Konscious.Their portfolio spans across Bulgaria, United Kingdom, Greece and 13 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 23 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Eleven:1. Payhawk
Provider of spend management platform with AI-powered automation and control. The platform offers tools for managing corporate cards, business accounts, payments, and expenses. It facilitates accounts payable automation, business travel management, and multi-entity management. The platform provides integrations and an API for connecting with other finance tools.
Key facts about Payhawk
2. Pluria
Provider of managed flexible workspaces. The company's platform offers and lists predefined perks to employees working remotely via various working spaces. It helps businesses to directly promote remote working and increase productivity and employee flexibility.
Key facts about Pluria
- Founded Year: 2020
- Location: Bucharest (Romania)
- Stage: Seed
- Total Funding till date: $4M
- Employee Count: 11 - 50 as on Jul 01, 2024
- Investors: Eleven, Crescendo Ventures and 3 Others
- Latest Funding Round: Seed, May 12, 2026, $*****
3. Dronamics
Developer of UAVs for transporting cargo. It offers products that are optimized for heavy payloads and long-range, for use in commercial and special logistics missions.
Key facts about Dronamics
- Founded Year: 2014
- Location: Sofia (Bulgaria)
- Stage: Series A
- Total Funding till date: $77.6M
- Employee Count: 113 as on Jun 30, 2026
- Investors: Eleven, Founders Factory and 9 Others
- Latest Funding Round: Series A, Apr 20, 2026, $*****
- Highlight: Editors' Pick
4. Vulcan
Vulnerability remediation and devops security platform. It is a vulnerability remediation platform that automates and orchestrates enterprise vulnerability remediation processes. It provides visibility into the exposures in the environment and infrastructure to remediate vulnerabilities in real time.
Key facts about Vulcan
5. eBag.bg
Online store for groceries. Its product offerings include fruits, vegetables, meat, chicken, seafood, eggs, dairy products, frozen products, cosmetics, baby care products, cosmetics, household products, pharmaceuticals, and more.
Key facts about eBag.bg
- Founded Year: 2014
- Location: Sofia (Bulgaria)
- Stage: Seed
- Total Funding till date: $1.53M
- Employee Count: 164 as on Jun 30, 2026
- Investors: Eleven, HR Capital and 1 Other
- Latest Funding Round: Seed, Nov 06, 2023, $*****
Eleven's Year-on-Year Investment Trends
Eleven has invested in 71 companies over the last 14 years, with an average of 5 new investments annually in the last 10 years. In 2025, it made 3 investments, while as of Apr 2026, it has made 1 investment in this year. Its most recent first time investment was in nFuse AI and most recent follow-on round was in Native Teams.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 3 | 0 | 3 |
2024 | 7 | 2 | 9 |
2023 | 9 | 1 | 10 |
2022 | 10 | 0 | 10 |
2021 | 9 | 1 | 10 |
2020 | 2 | 1 | 3 |
2019 | 5 | 0 | 5 |
2018 | 5 | 0 | 5 |
Eleven's Investments by Stage
Eleven has made 59 investments in Seed stage with an average round size of $1.02M, 3 investments in Series A stage with an average round size of $5.91M and 1 investment in Unattributed stage with an average round size of $113K.Stage of entry | No. of Investments |
|---|---|
Seed | 59 |
Series A | 3 |
Unattributed | 1 |
Note: We have considered here, only first round of investments
Eleven's Investments by Sector
Eleven has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, Retail, HealthTech and FinTech. Notably, it has invested in 60 Tech companies, 46 Enterprise (B2B) companies, 40 Software companies and at least 22 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 33 |
Consumer | 14 |
Retail | 11 |
HealthTech | 8 |
FinTech | 7 |
Others | 56 |
Note: We have considered here, only first round of investments
Eleven's Investments by Geography
Eleven has made most investments in Bulgaria (29), followed by United Kingdom where it has made 7 investments.Country | No. of Investments |
|---|---|
Bulgaria | 29 |
United Kingdom | 7 |
Greece | 5 |
United States | 5 |
Romania | 4 |
Others | 15 |
Note: We have considered here, only first round of investments
Eleven's recent investments
Eleven has made 1 investments in 2026 so far - nFuse AI.Here are the most recent investments by Eleven:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 07, 2026 | Bulgaria | Seed | 5597 | ||
Jul 22, 2025 | Bulgaria | Seed | 1683 | ||
Jun 18, 2025 | Greece | Seed | 3490 | ||
Jan 20, 2025 | Czech Republic | Seed | 5481 | [+1] | |
Dec 12, 2024 | Bulgaria | Seed | 4805 | - |
Unicorns in Eleven's Portfolio
Eleven has 1 unicorn in its portfolio - Payhawk. The most recent unicorn in their portfolio is Payhawk which became a unicorn in 2022, 3 years after Eleven first invested in it.Here is a list of unicorns in Eleven's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
71 | Provider of spend management platform with AI-powered automation and control | 2018 | Sofia | Series B | xcdshck |
Acquired companies in Eleven's Portfolio
5 companies from Eleven's portfolio have been acquired. The most recent acquisition was Quantive in May 2025 by Workboard for $*****.Here are Eleven's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 28, 2025 | Nov 27, 2018 | Unattributed | 3163 | |
Jan 29, 2025 | Jun 26, 2019 | Series A | 8671 | |
Jul 18, 2024 | Nov 27, 2018 | Seed | 3022 | |
Apr 05, 2024 | Apr 19, 2022 | Seed | 8763 | |
Sep 21, 2021 | Feb 2015 | Seed | 6058 |
Team profile of Eleven
Eleven has a team of 10 members including 4 Partners, 2 Venture Partners and 1 Principal located in Bulgaria and United Arab Emirates. Eleven's team does not sit on the board of any company as of now.Here is a list of all team members in Eleven:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Bulgaria | - | ||
Partner | Bulgaria | - | ||
Partner | Sofia | - | ||
Partner | Bulgaria | - | ||
Venture Partner | - | - | ||
Venture Partner | Dubai | - | - | |
Principal | - | - |
Co-investors of Eleven
Over the past 14 years, 137 investors have co-invested in Eleven's portfolio companies. This includes funds and angels.
- Invested before Eleven: LAUNCHUB, Eleven Ventures and 33 others have invested in rounds before Eleven. There are 3 companies where LAUNCHUB has invested before Eleven and 2 companies where Eleven Ventures has invested before Eleven.
- Top Co-investors of Eleven: 55 investors entered a company along with Eleven. These include investors like BrightCap Ventures (2 companies).
- Invested after Eleven: A total of 47 investors have invested in Eleven's portfolio after their investments. Top Investors include Europa (5 companies), EIC Fund (2 companies) and MGF Invest (2 companies).
Recent News related to Eleven
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Pasqal and Eleven Ventures form joint venture to deploy quantum computing in Saudi Arabia and MENAGlobeNewswire•Aug 24, 2026•PASQAL, Eleven
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Flataway.ai Launches Staycy AI Website Builder for Short-Term RentalsShortTermRentalz•Oct 22, 2025•, Eleven, Angel Invest Ventures
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Blue Longevity Clinic raises €2M to democratise longevity medicine in Southeast Europe
Silicon Canals•Jul 22, 2025•Bluelongevity, Eleven, Sofia Angels Ventures
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Czech OUTFINDO Raises €1.2M to Transform Online Shopping, Led by Eleven VenturesRecurisve Media JSC•Jan 20, 2025•Outfindo, Eleven, Dronamics, Payhawk and 3 others
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Bulgaria's Eleven Ventures leads Outfindo funding roundSeeNews•Jan 20, 2025•Eleven, Outfindo, Lighthouse Ventures, Borovicka Capital
