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About Heron Rock
Heron Rock is a venture capital firm founded in 2014. It is primarily based out of Ottawa, Canada. As of Mar 2024, Heron Rock has invested in 19 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 HealthTech and Consumer. Most recently it participated in the $***** Series C round of Jumbotail Overall, Heron Rock portfolio has seen 3 unicorns, 1 IPO and 1 acquisition including key companies like Blockstream, Knix and Grove. A lot of funds co-invest with Heron Rock, with names like TZP Group sharing a substantial percentage of its portfolio. Heron Rock has team of 1 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series B & 2 more
Portfolio IPOs
Portfolio Acquisitions
Heron Rock's List of Top Investments
Heron Rock has a portfolio of 19 companies, including 3 unicorns. Their most notable investments are in Guava and Wavepaths.Their portfolio spans across United States, Canada, India and 1 more locations. They have invested in Enterprise Applications, HealthTech, Consumer and 10 other sectors, across stages such as Seed, Series B and 2 more. Here is the list of top investments by Heron Rock:1. Blockstream
Developer of blockchain-based platform building crypto-financial infrastructure. It provides users with detailed blockchain data through open-source block explorer and offers a hardware wallet for Bitcoin and liquid assets. It also operates the Blockstream satellite, which broadcasts the Bitcoin blockchain worldwide and provides enterprise-class Bitcoin mining services.
Key facts about Blockstream
- Founded Year: 2014
- Location: Montreal (Canada)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $651M
- Employee Count: 100 as on Mar 31, 2025
- Investors: AME Cloud Ventures, Baillie Gifford and 46 Others
- Latest Funding Round: Series C, Oct 15, 2024, $*****
- Highlight: Editors' Pick
2. Knix
Knix is an internet-first brand of innerwear for women. The product catalog includes bras, underwear, sportswear, thigh saver, leakproof underwear, and more. They also offer sports socks. The company claims that its products are manufactured using moisture-wick technology, are wire-free & anti-microbial.
Key facts about Knix
- Founded Year: 2013
- Location: Toronto (Canada)
- Stage: Acquired
- Total Funding till date: $58.7M
- Employee Count: 344 as on Jun 30, 2026
- Investors: TZP Group, Acton Capital and 10 Others
- Latest Funding Round: Series B, May 18, 2021, $*****
- Highlight: Acquired
3. Grove
Online subscription-based platform providing cleaning products and beauty products. Its catalog includes home, skin care, oral care, hair care, perfumes & deodorants, and pet care products. The users can customize the curated boxes based on the preferences.
Key facts about Grove
- Founded Year: 2012
- Location: San Francisco (United States)
- Annual Revenue: $100M - $500M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $527M
- Employee Count: 408 as on Jun 30, 2026
- Investors: Glynn Capital, TriplePoint Capital and 45 Others
- Latest Funding Round: Post IPO, Oct 14, 2024, $*****
- Highlight: Public
Developer of bioprinting technology and tissue therapeutics for regenerative medicine. The company’s platform integrates bioprinting, computational design, therapeutic cells, and biomaterials. It develops implantable tissues to replace, repair, or supplement biological functions. The focus is on creating solutions for metabolic and endocrine diseases. The company also collaborates with other organizations.
Key facts about Aspect Biosystems
- Founded Year: 2013
- Location: Vancouver (Canada)
- Stage: Series B
- Total Funding till date: $139M
- Employee Count: 142 as on Jun 30, 2026
- Investors: Rising Tide Fund, Pangaea Ventures and 21 Others
- Latest Funding Round: Series B, Jan 08, 2025, $*****
- Highlight: Editors' Pick
5. Clarify
Clarify Health is a healthcare analytics and value-based payments platform company that empowers payers, providers, and life sciences companies to deliver better care, therapies, and outcomes with actionable patient journey insights. Clarify’s products illuminate actionable opportunities to drive growth, optimize networks, improve care delivery, manage population health, maximize value-based care performance, and bring therapies to market. With Clarify, healthcare organizations can leapfrog from point-solution and manual analytics to self-service, rapid generation of enterprise insights that light the path to better care and outcomes.
Key facts about Clarify
- Founded Year: 2015
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $411M
- Employee Count: 113 as on Jun 30, 2026
- Investors: Insight Partners, BlackRock and 22 Others
- Latest Funding Round: Series D, Apr 05, 2022, $*****
- Highlight: Editors' Pick
Heron Rock's Year-on-Year Investment Trends
Heron Rock has invested in 19 companies over the last 7 years, with an average of 1 new investment annually in the last 5 years. Its most recent first time investment was in Heard and most recent follow-on round was in Jumbotail.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 1 | 1 |
2023 | 1 | 0 | 1 |
2022 | 2 | 0 | 2 |
2021 | 2 | 0 | 2 |
2020 | 2 | 1 | 3 |
2019 | 2 | 0 | 2 |
Heron Rock's Investments by Stage
Heron Rock has made 3 investments in Seed stage with an average round size of $2.52M, 3 investments in Series B stage with an average round size of $29.6M, 2 investments in Series A stage with an average round size of $11.5M and 1 investment in Series D stage with an average round size of $150M.Stage of entry | No. of Investments |
|---|---|
Seed | 3 |
Series B | 3 |
Series A | 2 |
Series D | 1 |
Note: We have considered here, only first round of investments
Heron Rock's Investments by Sector
Heron Rock has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, HealthTech, Retail and FinTech. Notably, it has invested in 17 Tech companies, 12 Enterprise (B2B) companies, 9 Consumer (B2C) companies and at least 9 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 4 |
Enterprise Applications | 3 |
HealthTech | 3 |
Retail | 3 |
FinTech | 2 |
Others | 7 |
Note: We have considered here, only first round of investments
Heron Rock's Investments by Geography
Heron Rock has made most investments in United States (5), followed by Canada where it has made 2 investments.Country | No. of Investments |
|---|---|
United States | 5 |
Canada | 2 |
India | 1 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Heron Rock's recent investments
Heron Rock has not made any investment in 2026 so far.Here are the most recent investments by Heron Rock:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 18, 2024 | India | Series C | 7112 | [+25] | |
Jun 23, 2023 | United States | Series A | 3535 | [+4] | |
Oct 26, 2022 | Canada | Series B | 9536 | [+5] | |
Jul 26, 2022 | United States | Seed | 6141 | [+4] | |
Nov 02, 2021 | United Kingdom | Seed | 8792 |
Unicorns in Heron Rock's Portfolio
Heron Rock has 3 unicorns in its portfolio - Jumbotail, Clarify and Blockstream. The most recent unicorn in their portfolio is Jumbotail. It became a unicorn in 2025, 6 years after Heron Rock first invested in it.Here is a list of unicorns in Heron Rock's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
61 | Operator of B2B marketplace and retail platform for food and grocery | 2015 | Bengaluru | Series D | gkm{uyr | ||
64 | Company provides healthcare analytics and value-based payments platform services | 2015 | San Francisco | Series D | hanegha | ||
77 | Developer of blockchain-based platform building crypto-financial infrastructure | 2014 | Montreal | Series C | zaqxifw |
IPOs and Publicly Listed companies in Heron Rock's Portfolio
1 of Heron Rock's portfolio company became public - Grove. It got listed on the New York Stock Exchange (NYSE), in May 2021.Here are Heron Rock's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 14, 2021 | Sep 06, 2019 | Series D | 5626 |
Acquired companies in Heron Rock's Portfolio
1 company from Heron Rock's portfolio has been acquired. The most recent acquisition was Knix in Jul 2022 by Essity for $*****.Here are Heron Rock's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 08, 2022 | May 18, 2021 | Series B | 3741 |
Team profile of Heron Rock
Heron Rock has a team of 1 member located in United States. Heron Rock's team does not sit on the board of any company as of now.Co-investors of Heron Rock
Over the past 7 years, 146 investors have co-invested in Heron Rock's portfolio companies. This includes funds and angels.
- Invested before Heron Rock: Right Side Capital Management, Social Capital and 36 others have invested in rounds before Heron Rock. There are 2 companies where Right Side Capital Management has invested before Heron Rock and 2 companies where Social Capital has invested before Heron Rock.
- Top Co-investors of Heron Rock: 35 investors entered a company along with Heron Rock. These include investors like TZP Group (1 company).
- Invested after Heron Rock: A total of 73 investors have invested in Heron Rock's portfolio after their investments. Top Investors include Structural Capital (1 company), Avenue Capital Group (1 company) and Volition Capital (1 company).
Recent News related to Heron Rock
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ProteinQure Secures $11M in Series A FundingFinSMEs•May 28, 2025•ProteinQure, Heron Rock, Kensington Capital Partners, Golden Ventures
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Helaina raises $45m series B round to support market entry of human lactoferrinAgFunderNews•Sep 25, 2024•Helaina, Ingeborg Investments, Spark Capital, Avidity Capital and 8 others
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FreightTech startup Aifleet raises $16M Series B to expand operationsFreightWaves•Sep 10, 2024•aifleet, Cooley, Winthrop Square Capital, Compound and 5 others
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Jumbotail raises Rs 151 cr in equity; aims to end fiscal at Rs 2500 cr GMV, ET RetailB2BCHIEF.COM•Mar 20, 2024•Jumbotail, Heron Rock, Sabre Partners, Arkam Ventures and 9 others
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Heard Technologies grabs another $15M to develop therapist accounting toolsTechCrunch+•Jun 22, 2023•Heard, Notable Capital, Headline, Footwork and 3 others
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Jumbotail Technologies Pvt Ltd has raised USD 9.1 Million in a debt funding roundEnablers•Mar 14, 2023•Jumbotail, Alteria Capital, Innoven Capital, Invus and 7 others
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Guava Raises $2.4M in FundingFinSMEs•Jul 27, 2022•Guava, Heron Rock, Global Good Fund, Precursor Ventures and 1 other
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