About Incept
Incept is a venture capital firm founded in 1998. It is primarily based out of Boston, United States. As of Aug 2023, Incept has invested in 16 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 Life Sciences and High Tech. Most recently it participated in the $***** Series B round of Instylla Overall, Incept portfolio has seen 1 unicorn, 2 IPOs and 10 acquisitions including key companies like Ocular Therapeutix, Axtria and Claret Medical. A lot of funds co-invest with Incept, with names like Ascension sharing a substantial percentage of its portfolio. Incept has team of 2 people including 2 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series C & 2 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Incept's List of Top Investments
Incept has a portfolio of 16 companies, one of which is a Unicorn. Their most notable investments are in Augmenix and Instylla.Their portfolio spans across United States and Singapore. They have invested in Enterprise Applications, Life Sciences, High Tech and 2 other sectors, across stages such as Seed, Series C and 2 more. Here is the list of top investments by Incept:Provider of access catheters for cardiovascular diagnosis and treatment. The catheters are used in deep navigation into the blood vessels of the brain to prevent strokes. The flagship product ZOOM Aspiration System is a family of products designed to facilitate clot removal during ischemic stroke.
Key facts about Imperative Care
- Founded Year: 2015
- Location: Campbell (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $596M
- Employee Count: 416 as on Aug 31, 2026
- Investors: Bain Capital Life Sciences, Perceptive Advisors and 21 Others
- Latest Funding Round: Series E, Mar 13, 2026, $*****
- Highlight: Editors' Pick
Developer of ophthalmic therapeutics using hydrogel technology. The company's product includes ReSure Sealant which is used to seal corneal incisions after cataract surgery. The company has developed therapeutics for post-surgical ocular inflammation, pain, allergic conjunctivitis, glaucoma, and inflammatory dry eye disease. It is also developing an injectable anti-VEGF drug for the treatment of eye diseases.
Key facts about Ocular Therapeutix
- Founded Year: 2006
- Location: Bedford (United States)
- Annual Revenue: $50M - $100M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $89.4M
- Employee Count: 363 as on Aug 31, 2026
- Investors: Versant Ventures, Top Corner Capital and 6 Others
- Latest Funding Round: Series D, Jun 07, 2013, $*****
- Highlight: Public
3. Axtria
Provider of AI-powered data analytics and commercial solutions for life sciences. The company offers data management, engineering, business intelligence, and data visualization services. It also provides marketing, sales, managed care, patient, and forecasting analytics. The company delivers sales force optimization, commercial models, and marketing effectiveness solutions. It offers customer engagement, sales effectiveness, and field force effectiveness services.
Key facts about Axtria
- Founded Year: 2009
- Location: Berkeley Heights (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $199M
- Employee Count: 3,377 as on Dec 31, 2025
- Investors: Helion Venture Partners, Bain Capital and 9 Others
- Latest Funding Round: Series D, Apr 30, 2021, $*****
- Highlight: Editors' Pick
Developer of cerebral vascular protection systems for use during endovascular procedures. The company’s products include Claret Medical Montage, a dual filter system and percutaneously delivered embolic protection device to capture and remove debris disloged during vascular procedures and smaller catheters that are inserted into the patient’s right arm to protect the patient’s brain during interventional procedures where embolic debris might be released. It offers its products for use as an embolic protection system to capture and remove embolic material (thrombus/debris) that may enter the cerebral vascular system during endovascular procedures.
Key facts about Claret Medical
- Founded Year: 2009
- Location: Santa Rosa (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $51.4M
- Employee Count: 105 as on Dec 31, 2018
- Investors: HealthCor Partners, SLR Investment Corp and 6 Others
- Latest Funding Round: Series C, Oct 19, 2017, $*****
- Highlight: Acquired
5. Augmenix
Provider of a hydrogel spacer for prostate cancer radiation therapy. This hydrogel is injected to create space between the rectum and prostate, reducing radiation exposure to the rectum during treatment. The procedure aims to minimize urinary, sexual, and bowel side effects associated with radiation therapy. The hydrogel is made of polyethylene glycol (PEG) and is intended for temporary use during radiotherapy. Potential complications, though rare, include injection site pain, inflammation, and other issues. Patients should discuss risks and benefits with their physician before treatment.
Key facts about Augmenix
- Founded Year: 2008
- Location: Waltham (United States)
- Stage: Acquired
- Total Funding till date: $46.6M
- Employee Count: 94 as on May 31, 2026
- Investors: Versant Ventures, Ascension Ventures and 5 Others
- Latest Funding Round: Series E, Jul 18, 2016, $*****
- Highlight: Acquired
Incept's Year-on-Year Investment Trends
Incept has invested in 16 companies over the last 28 years, with an average of 0 new investment annually in the last 10 years. Its most recent first time investment was in Instylla and most recent follow-on round was in Instylla.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 0 | 1 | 1 |
2022 | 0 | 0 | 0 |
2021 | 0 | 0 | 0 |
2020 | 1 | 0 | 1 |
2019 | 1 | 0 | 1 |
2018 | 0 | 0 | 0 |
2017 | 1 | 0 | 1 |
Incept's Investments by Stage
Incept has made 6 investments in Seed stage with an average round size of $1M, 3 investments in Series C stage with an average round size of $42.4M, 2 investments in Series B stage with an average round size of $18.2M and 2 investments in Unattributed stage.Stage of entry | No. of Investments |
|---|---|
Seed | 6 |
Series C | 3 |
Series B | 2 |
Unattributed | 2 |
Note: We have considered here, only first round of investments
Incept's Investments by Sector
Incept has a diverse portfolio, with companies operating in the Life Sciences, Enterprise Applications, Artificial Intelligence - Industry Applications, Big Data - Industry Applications and Enterprise Infrastructure. Notably, it has invested in 16 Enterprise (B2B) companies, 16 Tech companies, 7 Software companies and at least 5 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
Life Sciences | 12 |
Enterprise Applications | 4 |
Artificial Intelligence - Industry Applications | 1 |
Big Data - Industry Applications | 1 |
Enterprise Infrastructure | 1 |
Others | 3 |
Note: We have considered here, only first round of investments
Incept's Investments by Geography
Incept has made most investments in United States (13).Incept's recent investments
Incept has not made any investment in 2026 so far.Here are the most recent investments by Incept:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 08, 2023 | United States | Series B | 2059 | [+5] | |
Oct 13, 2020 | United States | Series B | 4937 | [+3] | |
Dec 10, 2019 | United States | Series C | 3542 | [+5] | |
Oct 19, 2017 | United States | Series C | 6595 | [+3] | |
May 06, 2015 | United States | Series C | 5379 |
Unicorns in Incept's Portfolio
Incept has 1 unicorn in its portfolio - Axtria. The most recent unicorn in their portfolio is Axtria which became a unicorn in 2021, 5 years after Incept first invested in it.Here is a list of unicorns in Incept's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
54 | Provider of AI-powered data analytics and commercial solutions for life sciences | 2009 | Berkeley Heights | Series D | fbmnotj |
IPOs and Publicly Listed companies in Incept's Portfolio
2 of Incept's portfolio companies have become public. Ocular Therapeutix got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Jul 2014 at marketcap of $267M and QT Vascular got listed on the Singapore stock exchange. ( SGX) at marketcap of $168M.Here are Incept's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 25, 2014 | 2006 | Seed | 9898 | |
May 02, 2014 | - | - | 5035 |
Acquired companies in Incept's Portfolio
10 companies from Incept's portfolio have been acquired. The most recent acquisition was Augmenix in Sep 2018 by Boston Scientific for $*****.Here are Incept's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 06, 2018 | Feb 29, 2008 | Seed | 3449 | |
Jul 20, 2018 | Oct 19, 2017 | Series C | 3200 | |
Oct 02, 2017 | Jan 13, 2015 | Series B | 1049 | |
Apr 02, 2014 | 2003 | Seed | 1491 | |
Oct 28, 2013 | 1998 | Unattributed | 5481 |
Team profile of Incept
Incept has a team of 2 members including 2 Partners located in United States. Incept's team does not sit on the board of any company as of now.Co-investors of Incept
Over the past 28 years, 72 investors have co-invested in Incept's portfolio companies. This includes funds and angels.
- Invested before Incept: Sequoia Capital, Amarpreet Sawhney and 8 others have invested in rounds before Incept. There is 1 company where Sequoia Capital has invested before Incept and 1 company where Amarpreet Sawhney has invested before Incept.
- Top Co-investors of Incept: 18 investors entered a company along with Incept. These include investors like Ascension (2 companies).
- Invested after Incept: A total of 44 investors have invested in Incept's portfolio after their investments. Top Investors include Ascension Ventures (4 companies), HealthCor Partners (3 companies) and SV Health Investors (3 companies).
Recent News related to Incept
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Instylla Closes $30M Equity FinancingFinSMEs•Aug 16, 2023•Instylla, Delos Capital, Excelestar Ventures, Ascension Ventures and 4 others
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Instylla Announces Completion of Series B FinancingPR Newswire•Oct 14, 2020•Instylla, Excelestar Ventures, Ascension Ventures, Catalyst Health Ventures and 3 others
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Imperative Care Closes A Series C Financing Of $85 Million For Stroke TreatmentsMedical Product Outsourcing•Dec 10, 2019•Imperative Care, Ally Bridge Group, Bain Capital, Ascension Ventures and 6 others
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