About Icon Ventures
Icon Ventures is a venture capital firm founded in 1992. It is primarily based out of Palo Alto, United States. As of Jul 2025, Icon Ventures is an active investor, having invested in 163 companies, with 1 new investment in the last 12 months. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Enterprise Infrastructure. Most recently it participated in the $***** Series A round of Global Worldwide Overall, Icon Ventures portfolio has seen 7 unicorns, 8 IPOs and 95 acquisitions including key companies like Palo Alto Networks, Bill.com and TrustArc. A lot of funds co-invest with Icon Ventures, with names like Sequoia Capital sharing a substantial percentage of its portfolio. Icon Ventures has team of 14 people including 7 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Series C & 8 more
Portfolio IPOs
Portfolio Soonicorns
Deals in last 12 months
Icon Ventures' List of Top Investments
Icon Ventures has a portfolio of 163 companies, including 7 unicorns. Their most notable investments are in Confluera and Tracon Pharma.Their portfolio spans across United States, Japan, India and 6 more locations. They have invested in Enterprise Applications, High Tech, Enterprise Infrastructure and 29 other sectors, across stages such as Series B, Series C and 8 more. Here is the list of top investments by Icon Ventures:
Provider of cybersecurity platforms, threat intelligence, and incident response services. The business delivers network and cloud security, along with security operations platforms. It offers threat intelligence and incident response to guide before, during, and after incidents. The business provides solutions to secure networks, clouds, and applications.
Key facts about Palo Alto Networks
- Founded Year: 2005
- Location: Santa Clara (United States)
- Annual Revenue: $9.22B as on Jul 31, 2025
- Stage: Public
- Total Funding till date: $65.7M
- Employee Count: 18,565 as on Jan 07, 2026
- Investors: Japan Asia Investment, Bain Capital Ventures and 24 Others
- Latest Funding Round: Post IPO, Aug 15, 2018, $*****
- Highlight: Public
2. Bill.com
Provider of accounts payable, accounts receivable, and spend management solutions. The platform offers accounts payable and receivable automation, spend and expense management, and cash flow forecasting. It provides features such as bill creation, approvals, payments, invoicing, and procurement. The platform also offers integrations with accounting software and mobile applications.
Key facts about Bill.com
- Founded Year: 2006
- Location: Palo Alto (United States)
- Annual Revenue: $1.29B as on Jun 30, 2024
- Stage: Public
- Total Funding till date: $326M
- Employee Count: 3,359 as on Mar 31, 2026
- Investors: HTIF, August Capital and 28 Others
- Latest Funding Round: Post IPO, Nov 30, 2020, $*****
- Highlight: Public
3. TrustArc
Cloud-based data privacy and compliance solutions for businesses. It helps users navigate the complexities of privacy management, ensuring compliance with various data protection laws and regulations. It also helps businesses manage privacy workflows, from data mapping to risk assessments, and ensure compliance with global privacy laws.
Key facts about TrustArc
- Founded Year: 1997
- Location: Walnut Creek (United States)
- Stage: Acquired
- Total Funding till date: $107M
- Employee Count: 382 as on Mar 31, 2026
- Investors: Icon Ventures, Industry Ventures and 9 Others
- Latest Funding Round: Series D, Jul 10, 2019, $*****
- Highlight: Acquired
4. Proofpoint
Provider of cybersecurity solutions, services, and training for enterprise protection. The company offers a platform securing connections across email, cloud, and collaboration tools. It focuses on protecting people and securing data, addressing threats and data loss. The company provides solutions for collaboration security, data security and governance, and platform technologies.
Key facts about Proofpoint
- Founded Year: 2002
- Location: Sunnyvale (United States)
- Annual Revenue: $1.05B as on Dec 31, 2020
- Stage: Acquired
- Total Funding till date: $86M
- Employee Count: 5,049 as on Mar 31, 2026
- Investors: Glynn Capital, Kaplan Group Investments and 20 Others
- Latest Funding Round: Post IPO, Aug 23, 2019, $*****
- Highlight: Acquired
5. Quizlet
Provider of learning tools and flashcards for students. It enables users to create study sets on the platform for anything they are learning. Provides a collaborative platform where students can learn with their peers. The platform enables students to learn languages, science, arts & humanities, math, and more. Additionally, users can also add audio or images to the study set and search the repository of existing study sets. Its mobile app is available for Android and iOS devices.
Key facts about Quizlet
- Founded Year: 2005
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $62M
- Employee Count: 534 as on Mar 31, 2026
- Investors: Icon Ventures, Owl Ventures and 6 Others
- Latest Funding Round: Series C, May 13, 2020, $*****
- Highlight: Editors' Pick
Icon Ventures' Year-on-Year Investment Trends
Icon Ventures has invested in 163 companies over the last 34 years, with an average of 3 new investments annually in the last 10 years. In 2025, it made 1 investment. Its most recent first time investment was in Global Worldwide and most recent follow-on round was in Maven.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 1 | 0 | 1 |
2024 | 4 | 4 | 8 |
2023 | 1 | 1 | 2 |
2022 | 3 | 7 | 10 |
2021 | 6 | 6 | 12 |
2020 | 5 | 4 | 9 |
2019 | 5 | 5 | 10 |
2018 | 3 | 5 | 8 |
2017 | 4 | 4 | 8 |
Icon Ventures' Investments by Stage
Icon Ventures has made 58 investments in Series B stage with an average round size of $23M, 42 investments in Series C stage with an average round size of $24.7M and 25 investments in Series A stage with an average round size of $11.5M.Stage of entry | No. of Investments |
|---|---|
Series B | 58 |
Series C | 42 |
Series A | 25 |
Series D | 7 |
Seed | 5 |
Others | 9 |
Note: We have considered here, only first round of investments
Icon Ventures' Investments by Sector
Icon Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, Enterprise Infrastructure, Consumer, Retail and High Tech. Notably, it has invested in 140 Tech companies, 124 Enterprise (B2B) companies, 108 Software companies and at least 57 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 88 |
Enterprise Infrastructure | 43 |
Consumer | 19 |
Retail | 15 |
High Tech | 13 |
Others | 131 |
Note: We have considered here, only first round of investments
Icon Ventures' Investments by Geography
Icon Ventures has made most investments in United States (128), followed by Japan where it has made 7 investments.Country | No. of Investments |
|---|---|
United States | 128 |
Japan | 7 |
India | 3 |
China | 2 |
Israel | 2 |
Others | 6 |
Note: We have considered here, only first round of investments
Icon Ventures' recent investments
Icon Ventures has not made any investment in 2026 so far.Here are the most recent investments by Icon Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 08, 2025 | United States | Series A | 6066 | [+2] | |
Oct 08, 2024 | United States | Series F | 7635 | [+8] | |
Oct 04, 2024 | United States | Series A | 5150 | [+5] | |
Sep 04, 2024 | United States | Series A | 2584 | [+2] | |
Jun 17, 2024 | United States | Series D | 2330 | [+4] |
Unicorns in Icon Ventures' Portfolio
Icon Ventures has 7 unicorns in its portfolio - Bugcrowd, TigerData, Immunai Technologies and others. The most recent unicorn in their portfolio is Bugcrowd. It became a unicorn in 2024, 10 years after Icon Ventures first invested in it.Here is a list of unicorns in Icon Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
66 | Provider of crowdsourced security platform offering vulnerability disclosure and penetration testing | 2012 | San Francisco | Series E | n{woaqn | ||
57 | Provider of a data platform for time-series, analytics, and AI | 2015 | New York City | Series C | cscicey | ||
66 | Developer of next-generation of immunomodulatory therapeutics | 2018 | - | Series B | yawoayd | ||
72 | Virtual care for women and families across every life stage | 2014 | New York City | Series F | sfgxopm | ||
65 | Online cyber insurance platform for businesses | 2016 | Mountain View | Series D | uaersoz |
IPOs and Publicly Listed companies in Icon Ventures' Portfolio
8 of Icon Ventures' portfolio companies have become public. Braze got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Nov 2021 at marketcap of $5.87B and PlayStudios got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ).Here are Icon Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Nov 17, 2021 | Nov 06, 2013 | Series A | 1028 | |
Jun 22, 2021 | Oct 22, 2014 | Series C | 9686 | |
Dec 12, 2019 | Jun 17, 2010 | Series C | 9046 | |
Nov 21, 2019 | - | - | 8929 | |
Jul 01, 2015 | Sep 18, 2014 | Series C | 1295 |
Acquired companies in Icon Ventures' Portfolio
95 companies from Icon Ventures' portfolio have been acquired. The most recent acquisition were Confluent in Dec 2025 by IBM for $11B.Here are Icon Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 08, 2025 | - | - | 7041 | |
Nov 11, 2025 | Aug 06, 2012 | Series B | 4160 | |
Nov 04, 2025 | Apr 21, 2021 | Series C | 5957 | |
Oct 15, 2025 | Jul 10, 2019 | Series D | 2455 | |
May 05, 2025 | Apr 25, 2024 | Series B | 4000 |
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Team profile of Icon Ventures
Icon Ventures has a team of 14 members including 7 Partners and 1 Principal located in United States and Japan. Icon Ventures' team does not sit on the board of any company as of now.Here is a list of top team members in Icon Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Palo Alto | - | ||
Partner | United States | - | ||
Partner | Palo Alto | - | ||
Partner | San Francisco | - | ||
Partner | Palo Alto | - | ||
Partner | Orlando | - | - | |
Partner | Japan | - | - | |
Principal | Menlo Park | - | - |
Co-investors of Icon Ventures
Over the past 34 years, 871 investors have co-invested in Icon Ventures's portfolio companies. This includes funds and angels.
- Invested before Icon Ventures: Sequoia Capital, Kleiner Perkins and 335 others have invested in rounds before Icon Ventures. There are 13 companies where Sequoia Capital has invested before Icon Ventures and 12 companies where Kleiner Perkins has invested before Icon Ventures.
- Top Co-investors of Icon Ventures: 245 investors entered a company along with Icon Ventures. These include investors like Sequoia Capital (4 companies).
- Invested after Icon Ventures: A total of 289 investors have invested in Icon Ventures's portfolio after their investments. Top Investors include SVB (4 companies), Sapphire Ventures (4 companies) and JPMorgan Chase (3 companies).
Recent News related to Icon Ventures
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Button Secures Strategic Growth Investment from PSGBusiness Wire•Jun 16, 2025•Button, PSG, Redpoint Ventures, Norwest Venture Partners and 1 other
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AI-driven marketing startup Voyantis raises $41 million for smarter customer targetingCTech•Feb 11, 2025•Voyantis, Intel Capital, Square Peg Communications, Target Global and 17 others
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Medeloop: Medical Research Platform Company Raises $15.5 Million (Series A)Pulse 2.0•Nov 26, 2024•Medeloop, Inovia Capital, Icon Ventures, General Catalyst and 4 others
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Medeloop Secures $15.5 Million in Series A Funding to Accelerate Medical ResearchGlobeNewswire•Nov 13, 2024•Medeloop, Inovia Capital, Icon Ventures, General Catalyst and 4 others
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Maven Clinic Raises $125M Series F to Expand Global Virtual Health Platform for Women and FamiliesSilicon Valley Journals•Oct 08, 2024•Maven, StepStone Group, General Catalyst, Sequoia Capital and 5 others
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Revefi Secures $20M and Launches Raden, the World’s First AI Data EngineerBusiness Wire•Sep 04, 2024•Revefi, Icon Ventures, GTM Capital, StepStone Group and 1 other
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Airbnb alum’s Eppo raises $28M for next-gen experimentation platformTech Funding News•Aug 20, 2024•Eppo, Innovation Endeavors, Icon Ventures, Menlo Ventures and 2 others
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Ilumex Closes $11m Seed Round Leaded By Cardumen, Amdocs And SamsungWebcapitalriesgo•Jun 25, 2024•Illumex, Cardumen Capital, Amdocs, Samsung and 9 others
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Nomad Health Secures $22 Million; Justin Lambert Appointed CEOBusiness Wire•Jun 17, 2024•Nomad Health, Health Quest Capital, Adams Street Partners, Icon Ventures and 8 others
