About Industry Ventures
Industry Ventures is a venture capital firm founded in 2000. It is primarily based out of San Francisco, United States. As of Dec 2025, Industry Ventures is an active investor, having invested in 250 companies, with 7 new investments 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 Consumer. Most recently it participated in the $***** Series B round of Manifold AI Overall, Industry Ventures portfolio has seen 16 unicorns, 19 IPOs and 107 acquisitions including key companies like Uber, Farfetch and Carta. A lot of funds co-invest with Industry Ventures, with names like AME Cloud Ventures sharing a substantial percentage of its portfolio. Industry Ventures has team of 26 people including 6 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Series A & 9 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Deals in last 12 months
Industry Ventures' List of Top Investments
Industry Ventures has a portfolio of 250 companies, including 16 unicorns. Their most notable investments are in Mendel and Textio.Their portfolio spans across United States, Canada, United Kingdom and 10 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 31 other sectors, across stages such as Series B, Series A and 9 more. Here is the list of top investments by Industry Ventures:
1. Uber
Network providing on-demand transportation, delivery, and business management solutions. It facilitates ride requests and connects individuals with transportation providers. Additionally, it offers delivery services for food and other goods. The network extends to business solutions, providing tools for managing rides, meals, and local deliveries for organizations.
Key facts about Uber
- Founded Year: 2009
- Location: San Francisco (United States)
- Annual Revenue: $52B as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $13.2B
- Employee Count: 155,194 as on Apr 30, 2026
- Investors: TrueBridge, Star Tech NG and 191 Others
- Latest Funding Round: Post IPO, Dec 19, 2020, $*****
- Highlight: Public
2. Farfetch
Online retailer offering multi-category fashion products. The product catalog includes apparel, handbags, shoes, watches, jewelry, backpacks, belts, and more for men, women, and kids. In addition, the company also offers pre-owned fashion products. Its mobile application is available for Android and iOS platforms.
Key facts about Farfetch
- Founded Year: 2007
- Location: London (United Kingdom)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $709M
- Employee Count: 3,155 as on Mar 31, 2026
- Investors: HPR Capital, TriplePoint Capital and 30 Others
- Latest Funding Round: Post IPO, Apr 27, 2020, $*****
- Highlight: Acquired
3. Carta
Software-based equity management solutions. It offers features solutions for valuation, equity planning, transfer agents, electronic securities, scenario modeling, fund administration, portfolio data collection, and more. It offers solutions to multiple sectors including private companies, investors, and public companies. It also offers ESOP management solutions.
Key facts about Carta
- Founded Year: 2012
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $1.16B
- Employee Count: 2,077 as on Apr 30, 2026
- Investors: Meritech, Silver Lake and 134 Others
- Latest Funding Round: Series G, Aug 13, 2021, $*****
- Highlight: Editors' Pick
4. Upwork
Provider of freelance marketplace connecting businesses with independent talents. It offers an AI powered suggestions, screening questions, and boosted proposals for visibility, built-in tool with screenshots and activity logs for hourly work transparency . It provides in-app messaging, file sharing, video calls, and mobile apps for iOS and Android.
Key facts about Upwork
- Founded Year: 1999
- Location: San Francisco (United States)
- Annual Revenue: $788M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $74M
- Employee Count: 174,056 as on Apr 30, 2026
- Investors: Section Partners, Citdex and 24 Others
- Latest Funding Round: Post IPO, Aug 10, 2021, $*****
- Highlight: Public
5. Fortinet
Provider of cybersecurity solutions, services, and threat intelligence for enterprises. It offers a platform delivering network and cloud security, unified SASE, and security operations. The company provides services such as incident response, managed detection, and security awareness training. It also delivers operational technology security, including secure networking and ruggedized products.
Key facts about Fortinet
- Founded Year: 2000
- Location: Sunnyvale (United States)
- Annual Revenue: $6.8B as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $39M
- Employee Count: 16,266 as on Apr 30, 2026
- Investors: Meritech, World Innovation Lab and 16 Others
- Latest Funding Round: Venture Debt, Mar 02, 2004, $*****
- Highlight: Public
Industry Ventures' Year-on-Year Investment Trends
Industry Ventures has invested in 250 companies over the last 25 years, with an average of 10 new investments annually in the last 10 years. In 2025, it made 13 investments. Its most recent first time investment was in Manifold AI and most recent follow-on round was in d-Matrix.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 10 | 3 | 13 |
2024 | 10 | 2 | 12 |
2023 | 6 | 4 | 10 |
2022 | 16 | 4 | 20 |
2021 | 12 | 4 | 16 |
2020 | 7 | 2 | 9 |
2019 | 15 | 2 | 17 |
2018 | 11 | 0 | 11 |
2017 | 12 | 1 | 13 |
Industry Ventures' Investments by Stage
Industry Ventures has made 40 investments in Series B stage with an average round size of $29.4M, 33 investments in Series A stage with an average round size of $23.5M and 20 investments in Series C stage with an average round size of $54.1M.Stage of entry | No. of Investments |
|---|---|
Series B | 40 |
Series A | 33 |
Series C | 20 |
Series D | 14 |
Seed | 12 |
Others | 17 |
Note: We have considered here, only first round of investments
Industry Ventures' Investments by Sector
Industry Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, Enterprise Infrastructure, FinTech, High Tech and Consumer. Notably, it has invested in 225 Tech companies, 202 Enterprise (B2B) companies, 152 Software companies and at least 96 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 94 |
Enterprise Infrastructure | 26 |
FinTech | 22 |
High Tech | 22 |
Consumer | 21 |
Others | 108 |
Note: We have considered here, only first round of investments
Industry Ventures' Investments by Geography
Industry Ventures has made most investments in United States (120), followed by Canada where it has made 5 investments.Country | No. of Investments |
|---|---|
United States | 120 |
Canada | 5 |
Israel | 3 |
United Kingdom | 3 |
Mexico | 2 |
Others | 3 |
Note: We have considered here, only first round of investments
Industry Ventures' recent investments
Industry Ventures has not made any investment in 2026 so far.Here are the most recent investments by Industry Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Dec 18, 2025 | United States | Series B | 1541 | [+3] | |
Nov 19, 2025 | Singapore | Series A | 7102 | [+7] | |
Nov 12, 2025 | United States | Series C | 5620 | [+7] | |
Sep 22, 2025 | United States | Series C | 1131 | [+2] | |
Sep 09, 2025 | - | Series A | 4766 | [+2] |
Unicorns in Industry Ventures' Portfolio
Industry Ventures has 16 unicorns in its portfolio - d-Matrix, Cyberhaven, Bugcrowd and others. The most recent unicorn in their portfolio is d-Matrix. It became a unicorn in 2025, 2 years after Industry Ventures first invested in it.Here is a list of unicorns in Industry Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
65 | Developers of digital-in memory compute engine for efficient AI processing | 2019 | Los Altos | Series C | kstybjp | ||
69 | Developer of a data detection and response security platform | 2016 | San Jose | Series D | irc{gx{ | ||
66 | Provider of crowdsourced security platform offering vulnerability disclosure and penetration testing | 2012 | San Francisco | Series E | qhpxhe{ | ||
73 | Online platform for a workplace savings program | 2016 | New York City | Series E | knqhkbk | ||
62 | Provider of industrial metal additive manufacturing system | 2015 | Newburyport | Series D | hpbjinl |
IPOs and Publicly Listed companies in Industry Ventures' Portfolio
19 of Industry Ventures' portfolio companies have become public. ZipRecruiter got listed on the New York Stock Exchange (NYSE), in May 2021 at marketcap of $632M and Next Door got listed on the New York Stock Exchange (NYSE) at marketcap of undefined.Here are Industry Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 26, 2021 | Aug 12, 2014 | Series A | 1413 | |
May 26, 2021 | - | - | 1202 | |
Apr 30, 2021 | Dec 17, 2013 | Series B | 2147 | |
Feb 17, 2021 | - | - | 4577 | |
Jun 01, 2020 | - | - | 2302 |
Acquired companies in Industry Ventures' Portfolio
107 companies from Industry Ventures' portfolio have been acquired. The most recent acquisition was LiveRamp in May 2026 by Publicis Groupe for $*****.Here are Industry Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 18, 2026 | - | - | 1665 | |
Mar 11, 2026 | May 23, 2025 | Series D | 6772 | |
Jan 29, 2026 | Aug 28, 2016 | Series E | 2489 | |
Jan 27, 2026 | Nov 15, 2019 | Series C | 7016 | |
Dec 30, 2025 | - | - | 7364 |
Team profile of Industry Ventures
Industry Ventures has a team of 26 members including 6 Partners and 9 Principals located in United States and United Kingdom. Industry Ventures' team does not sit on the board of any company as of now.Here is a list of top team members in Industry Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | San Francisco | - | - | |
Partner | San Francisco | - | ||
Partner | London | - | ||
Partner | San Francisco | - | ||
Partner | Marblehead | - | ||
Partner | Belle Haven | - | - | |
Principal | Boston | - | ||
Principal | San Francisco | - | ||
Principal | San Francisco | - | - | |
Principal | San Francisco | - | ||
Principal | New York | - | - |
Co-investors of Industry Ventures
Over the past 25 years, 1273 investors have co-invested in Industry Ventures's portfolio companies. This includes funds and angels.
- Invested before Industry Ventures: Y Combinator, First Round Capital and 573 others have invested in rounds before Industry Ventures. There are 10 companies where Y Combinator has invested before Industry Ventures and 5 companies where First Round Capital has invested before Industry Ventures.
- Top Co-investors of Industry Ventures: 383 investors entered a company along with Industry Ventures. These include investors like AME Cloud Ventures (4 companies).
- Invested after Industry Ventures: A total of 315 investors have invested in Industry Ventures's portfolio after their investments. Top Investors include Tiger Global Management (5 companies), Google Ventures (4 companies) and Greenspring Associates (3 companies).
Recent News related to Industry Ventures
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Goodfire Secures $150M to Advance AI Interpretability PlatformSiliconAngle•Feb 06, 2026•Goodfire, B Capital, Salesforce, Cimulate and 10 others
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Amperesand Raises $80M Series A Co-led by Walden Catalyst Ventures and Temasek to Redefine Power Infrastructure for AI Data CentersBakersfield•Nov 18, 2025•Amperesand, Walden Catalyst, Temasek, TDK Ventures and 5 others
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d-Matrix Closes $275M Series C Funding, Bringing Total Raised to $450MHpcwire•Nov 13, 2025•d-Matrix, Mirae Asset, Qatar Investment Authority, M12 and 12 others
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Flint Raises $15M Series A to Personalize Learning for the AI-Native GenerationAccess Newswire•Nov 06, 2025•Patron, Flint, AME Cloud Ventures, Basis Set Ventures and 12 others
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Goldman Sachs to Acquire $7 Billion VC Firm, Industry VenturesBitcoin Ethereum News•Oct 14, 2025•Goldman Sachs, Industry Ventures, Petershill Partners, Rehmann and 1 other
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Cardless Secures $60M Series C Funding Led by Spark Capital,Partners With Coinbase & Bilt To Transform Credit Card IndustryFinancial IT•Sep 22, 2025•Anthropic, Bilt Rewards, Cardless, Industry Ventures and 5 others
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LightSpun Secures $13M Series A to Redefine Dental Insurance Administration with AIBusiness Wire•Sep 09, 2025•LightSpun, Virtue, Brewer Lane Ventures, Industry Ventures and 2 others
