About Formulate Ventures
Formulate Ventures is a venture capital firm founded in 2021. It is primarily based out of San Francisco, United States. As of Sep 2023, Formulate Ventures has invested in 20 companies. 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 FinTech. Most recently it participated in the $***** Seed round of 0xPass Overall, Formulate Ventures portfolio has seen 5 acquisitions including key companies like Graft, Search Light and Glean AI. A lot of funds co-invest with Formulate Ventures, with names like Google Ventures sharing a substantial percentage of its portfolio. Formulate Ventures has team of 1 people including 1 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed & Series A
Formulate Ventures' List of Top Investments
Formulate Ventures has a portfolio of 20 companies. Their most notable investmentis in 0xPassTheir portfolio spans across United States and Canada. They have invested in Enterprise Applications, High Tech, FinTech and 9 other sectors, across stages such as Seed, Series A stages. Here is the list of top investments by Formulate Ventures:
1. Graft
Developer of an AI platform for enterprise knowledge management and search. The platform connects to various data sources, providing relevant answers and insights to improve engineering workflows. It refines requirements, aids in design decisions, and enhances onboarding through conversational AI. The platform offers secure, private answers with citations and adapts to individual user preferences.
Key facts about Graft
- Founded Year: 2021
- Location: San Francisco (United States)
- Stage: Acquired
- Total Funding till date: $29M
- Employee Count: 17 as on Dec 31, 2022
- Investors: New Enterprise Associates, Essence VC and 5 Others
- Latest Funding Round: Seed, Jul 26, 2023, $*****
- Highlight: Acquired
2. Dover
Online recruitment platform for enterprises. The platform offers features such as Slack support, ATS integrations, schedule management, performance report creation, and consultation on the job description. It also offers various tools such as diversity audit, one soft landing, JD rewriter, rejection emails, and recruiting emails.
Key facts about Dover
- Founded Year: 2019
- Location: San Francisco (United States)
- Stage: Series A
- Total Funding till date: $20.1M
- Employee Count: 16 as on Dec 31, 2024
- Investors: Tiger Global Management, Abstract Ventures and 5 Others
- Latest Funding Round: Series A, Jul 19, 2021, $*****
- Highlight: Editors' Pick
3. Polimorphic
Cloud-based suite solutions for government operations and administration. It usesw AI technology nd chat tool for constituents to get answers about municipal service. It provides a platform to manage email & file systems for local & state governments. Some of its features are CRM, calendar & dashboard management, process & task management, collaboration between government & citizens, etc.
Key facts about Polimorphic
- Founded Year: 2018
- Location: Palo Alto (United States)
- Stage: Series A
- Total Funding till date: $24.2M
- Employee Count: 7 as on Jul 01, 2024
- Investors: Pear VC, Shine Capital and 6 Others
- Latest Funding Round: Series A, May 23, 2025, $*****
- Highlight: Editors' Pick
4. Search Light
SaaS-based suite solutions for applicant tracking. It utilizes a bias-free AI system to screen candidates based on relevant work experience, hard skills, and soft skills.The software provides recruiters with past performance data of the candidates for better hiring decisions and early reference checking. The platform offers customizable assessments that predict candidate performance, validated by industrial-organizational psychology principles. The features include adding custom position requirements, sorting candidates by reference results, and viewing aggregated answers.
Key facts about Search Light
- Founded Year: 2018
- Location: San Francisco (United States)
- Stage: Acquired
- Total Funding till date: $20M
- Employee Count: 27 as on Dec 31, 2021
- Investors: Shasta Ventures, Founders Fund and 12 Others
- Latest Funding Round: Series A, Dec 20, 2021, $*****
- Highlight: Acquired
5. Glean AI
Provider of AI-powered accounts payable automation and spend management software. The software offers features such as automated data extraction, general ledger coding, bill approvals, and payments. It also provides data benchmarking to negotiate vendor deals and centralized collaboration for budget planning. The software aims to streamline accounts payable processes and provide insights into spending.
Key facts about Glean AI
- Founded Year: 2019
- Location: New York (United States)
- Stage: Acquired
- Total Funding till date: $10.8M
- Employee Count: 80 as on Dec 31, 2024
- Investors: American Express Ventures, Headline and 16 Others
- Latest Funding Round: Seed, Sep 11, 2025, $*****
- Highlight: Acquired
Formulate Ventures' Year-on-Year Investment Trends
Formulate Ventures has invested in 20 companies over the last 5 years, with an average of 1 new investment annually in the last 5 years. Its most recent first time investment was in 0xPass.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 1 | 0 | 1 |
2022 | 2 | 0 | 2 |
2021 | 2 | 0 | 2 |
Formulate Ventures' Investments by Stage
Formulate Ventures has made 4 investments in Seed stage with an average round size of $3.02M and 1 investment in Series A stage with an average round size of $10M.Stage of entry | No. of Investments |
|---|---|
Seed | 4 |
Series A | 1 |
Note: We have considered here, only first round of investments
Formulate Ventures' Investments by Sector
Formulate Ventures has a diverse portfolio, with companies operating in the Blockchain - Industry Applications, Blockchain Technology, Business Services, Enterprise Applications and FinTech. Notably, it has invested in 18 Tech companies, 14 Enterprise (B2B) companies, 14 Software companies and at least 11 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Blockchain - Industry Applications | 2 |
Blockchain Technology | 2 |
Business Services | 2 |
Enterprise Applications | 2 |
FinTech | 2 |
Others | 2 |
Note: We have considered here, only first round of investments
Formulate Ventures' Investments by Geography
Formulate Ventures has made most investments in United States (5).Formulate Ventures' recent investments
Formulate Ventures has not made any investment in 2026 so far.Here are the most recent investments by Formulate Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 11, 2023 | United States | Seed | 7832 | [+6] | |
Jun 24, 2022 | United States | Seed | 7688 | [+7] | |
May 11, 2022 | United States | Seed | 6086 | [+3] | |
Nov 30, 2021 | United States | Seed | 5071 | ||
Sep 15, 2021 | United States | Series A | 3445 | [+5] |
Acquired companies in Formulate Ventures' Portfolio
5 companies from Formulate Ventures' portfolio have been acquired. The most recent acquisition was Graft in Oct 2025 by You Technologies for $*****.Here are Formulate Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 22, 2025 | May 11, 2022 | Seed | 1785 | |
Sep 23, 2024 | - | - | 8557 | |
Apr 15, 2024 | - | - | 1028 | |
Apr 08, 2024 | - | - | 9974 | |
Jan 04, 2024 | - | - | 2961 |
Team profile of Formulate Ventures
Formulate Ventures has a team of 1 member located in United States. Formulate Ventures' team does not sit on the board of any company as of now.Co-investors of Formulate Ventures
Over the past 5 years, 34 investors have co-invested in Formulate Ventures's portfolio companies. This includes funds and angels.
- Invested before Formulate Ventures: Naval Ravikant, Steve Kokinos and 2 others have invested in rounds before Formulate Ventures. There is 1 company where Naval Ravikant has invested before Formulate Ventures and 1 company where Steve Kokinos has invested before Formulate Ventures.
- Top Co-investors of Formulate Ventures: 29 investors entered a company along with Formulate Ventures. These include investors like Google Ventures (1 company).
- Invested after Formulate Ventures: Radical Ventures (1 company) is the only investor which has invested in Formulate Ventures's portfolio after their investments.
Recent News related to Formulate Ventures
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