About Norwest
Norwest is a venture capital firm founded in 1961. It is primarily based out of Menlo Park, United States. As of Aug 2026, Norwest is an active investor, having invested in 694 companies, with 30 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 Retail. Most recently it participated in the $***** Series D round of Alice Overall, Norwest portfolio has seen 29 unicorns, 77 IPOs and 274 acquisitions including key companies like Uber, Swiggy and DocuSign. A lot of funds co-invest with Norwest, with names like New Enterprise Associates sharing a substantial percentage of its portfolio. Norwest has team of 79 people including 20 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 8 more
Portfolio IPOs
Portfolio Acquisitions
Norwest's List of Top Investments
Norwest has a portfolio of 694 companies, including 29 unicorns. Their most notable investments are in Galvanize and Simpplr.Their portfolio spans across United States, India, Israel and 18 more locations. They have invested in Enterprise Applications, High Tech, Retail and 37 other sectors, across stages such as Series A, Series B and 8 more. Here is the list of top investments by Norwest:
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: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $13.2B
- Employee Count: 164,796 as on Jul 31, 2026
- Investors: TrueBridge, InvestX and 191 Others
- Latest Funding Round: Post IPO, Dec 19, 2020, $*****
- Highlight: Public
2. Swiggy
Operator of digital platforms facilitating food and grocery delivery services. These platforms connect consumers with restaurants and retail stores to enable the purchase and transport of prepared meals and household goods. The service manages the logistics of order fulfillment and delivery through a network of independent couriers. Users access these services through mobile applications to browse menus and product inventories before placing orders for fulfillment.
Key facts about Swiggy
- Founded Year: 2013
- Location: Bengaluru (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2026
- Stage: Public
- Total Funding till date: $3.62B
- Employee Count: 4,488 as on Mar 31, 2025
- Investors: Harmony Partners, Goldman Sachs and 89 Others
- Latest Funding Round: Post IPO, Dec 12, 2025, $*****
- Highlight: Public
3. DocuSign
Provider of electronic signature and intelligent agreement management platform solutions. The platform offers tools for contract lifecycle management, agreement preparation, and agreement workflow automation. It provides features such as electronic notarization, web forms, and multi-channel delivery options. The platform extends its capabilities through integrations, APIs, and a mobile application.
Key facts about DocuSign
- Founded Year: 2003
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Jan 31, 2026
- Stage: Public
- Total Funding till date: $520M
- Employee Count: 8,527 as on Jul 31, 2026
- Investors: HTIF, Glynn Capital and 90 Others
- Latest Funding Round: Post IPO, Jul 20, 2020, $*****
- Highlight: Public
4. Workday
Developer of cloud software for human resources finance and operations. The software provides tools for managing workforce planning, payroll, financial accounting, and contract lifecycle management. The platform integrates data across business functions to assist with organizational management and administrative tasks. It includes artificial intelligence capabilities designed to automate workflows and support decision-making processes for enterprise management.
Key facts about Workday
- Founded Year: 2005
- Location: Pleasanton (United States)
- Annual Revenue: $1B+ as on Jan 31, 2026
- Stage: Public
- Total Funding till date: $352M
- Employee Count: 21,000 as on Jan 31, 2026
- Investors: T. Rowe Price, TriplePoint Capital and 11 Others
- Latest Funding Round: Post IPO, May 15, 2013, $*****
- Highlight: Public
5. Salesforce
Provider of a platform delivering customer relationship management and cloud solutions. The platform offers applications and tools for sales, service, marketing, commerce, and information technology. It enables businesses to automate tasks, analyze data, and personalize customer interactions. The platform’s features include artificial intelligence, data integration, and application development capabilities.
Key facts about Salesforce
- Founded Year: 1999
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Jan 31, 2026
- Stage: Public
- Total Funding till date: $52M
- Employee Count: 76,453 as on Jan 31, 2025
- Investors: Meritech, Glynn Capital and 37 Others
- Latest Funding Round: Post IPO, May 23, 2023, $*****
- Highlight: Public
Norwest's Year-on-Year Investment Trends
Norwest has invested in 702 companies over the last 61 years, with an average of 27 new investments annually in the last 10 years. In 2025, it made 47 investments, while as of Aug 2026, it has made 25 investments in this year. Its most recent first time investment was in Alice and most recent follow-on round was in Obsidian Security.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 18 | 7 | 25 |
2025 | 29 | 18 | 47 |
2024 | 18 | 11 | 29 |
2023 | 16 | 14 | 30 |
2022 | 38 | 27 | 65 |
2021 | 42 | 37 | 79 |
2020 | 18 | 24 | 42 |
2019 | 35 | 27 | 62 |
2018 | 16 | 16 | 32 |
2017 | 29 | 19 | 48 |
Norwest's Investments by Stage
Norwest has made 171 investments in Series A stage with an average round size of $17.5M, 118 investments in Series B stage with an average round size of $39.8M and 73 investments in Seed stage with an average round size of $4.97M.Stage of entry | No. of Investments |
|---|---|
Series A | 171 |
Series B | 118 |
Seed | 73 |
Series C | 71 |
Series D | 29 |
Others | 34 |
Note: We have considered here, only first round of investments
Norwest's Investments by Sector
Norwest has a diverse portfolio, with companies operating in the Enterprise Applications, Enterprise Infrastructure, Consumer, High Tech and Retail. Notably, it has invested in 523 Tech companies, 500 Enterprise (B2B) companies, 359 Software companies and at least 219 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 255 |
Enterprise Infrastructure | 83 |
Consumer | 82 |
High Tech | 61 |
Retail | 59 |
Others | 453 |
Note: We have considered here, only first round of investments
Norwest's Investments by Geography
Norwest has made most investments in United States (385), followed by India where it has made 63 investments.Country | No. of Investments |
|---|---|
United States | 385 |
India | 63 |
Israel | 28 |
Canada | 6 |
China | 4 |
Others | 15 |
Note: We have considered here, only first round of investments
Norwest's recent investments
Norwest has made 25 investments in 2026 so far. Alice and Rezolv are the latest among them.Here are the most recent investments by Norwest:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 25, 2026 | United States | Series D | 4376 | [+11] | |
Aug 18, 2026 | India | Series A | 4895 | [+1] | |
Aug 04, 2026 | United States | Series D | 9121 | ||
Aug 03, 2026 | Israel | Series C | 1118 | [+7] | |
Jul 20, 2026 | India | Series C | 7171 |
Unicorns in Norwest's Portfolio
Norwest has 29 unicorns in its portfolio - Omni, Rain, You Technologies and others. The most recent unicorn in their portfolio is Omni. It became a unicorn in 2026.Here is a list of unicorns in Norwest's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
65 | Business intelligence platform for businesses | 2022 | San Francisco | Series C | nfoukwx | ||
60 | Stablecoin-powered cards and payments infrastructure for a fluid financial system | 2021 | Brooklyn | Series C | uv{cqlw | ||
70 | AI-enabled key-word based private search engine | 2020 | Palo Alto | Series C | weccqoj | ||
68 | Provider of working capital loans for small businesses | 2015 | Chennai | Series G | ipikqso | ||
59 | Provider of data storage software platforms for artificial intelligence workloads | 2013 | Campbell | Series E | bnotwwv |
IPOs and Publicly Listed companies in Norwest's Portfolio
77 of Norwest's portfolio companies have become public. Avalyn Pharma got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Apr 2026 at marketcap of $753M and Amagi got listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) at marketcap of $858M.Here are Norwest's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 30, 2026 | Apr 27, 2020 | Series B | 9353 | |
Jan 21, 2026 | Mar 16, 2022 | Series E | 9293 | |
Nov 21, 2025 | Sep 25, 2012 | Series A | 4367 | |
Nov 06, 2025 | Jun 14, 2021 | Series B | 4942 | |
Jun 06, 2025 | Sep 16, 2015 | Series C | 3531 |
Acquired companies in Norwest's Portfolio
274 companies from Norwest's portfolio have been acquired. The most recent acquisition was Mindful Health Solutions in Aug 2026 by Radial for $*****.Here are Norwest's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 20, 2026 | May 14, 2021 | Seed | 3590 | |
Jun 30, 2026 | Feb 11, 2025 | Seed | 3636 | |
May 13, 2026 | Oct 04, 2017 | Series C | 6046 | |
May 06, 2026 | Jan 23, 2018 | Series B | 1051 | |
Apr 29, 2026 | Oct 24, 2011 | Series D | 5733 |
Team profile of Norwest
Norwest has a team of 79 members including 20 Partners, 2 Venture Partners and 31 Principals located in United States, India and 1 more location. Norwest's team sits on the board of 8 companies.Here is a list of top team members in Norwest:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Burlingame | |||
Partner | Menlo Park | |||
Partner | San Francisco | |||
Partner | San Francisco | - | ||
Partner | Half Moon Bay | |||
Partner | San Francisco | |||
Partner | Israel | - | ||
Partner | Mumbai | - | ||
Partner | San Francisco | - | ||
Partner | Palo Alto | - | ||
Partner | San Francisco | - |
Co-investors of Norwest
Over the past 61 years, 3062 investors have co-invested in Norwest's portfolio companies. This includes funds and angels.
- Invested before Norwest: Accel, Y Combinator and 1096 others have invested in rounds before Norwest. There are 13 companies where Accel has invested before Norwest and 13 companies where Y Combinator has invested before Norwest.
- Top Co-investors of Norwest: 809 investors entered a company along with Norwest. These include investors like New Enterprise Associates (12 companies).
- Invested after Norwest: A total of 1155 investors have invested in Norwest's portfolio after their investments. Top Investors include SoftBank Vision Fund (11 companies), Tiger Global Management (10 companies) and Goldman Sachs (9 companies).
Recent News related to Norwest
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Norwest leads $12.5 Mn Series A round in AI lending-tech platform RezolvEntrackr•Aug 18, 2026•Norwest, 3one4 Capital, Vertex Ventures, Rezolv and 1 other
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Obsidian Security Raises $85M Series D at $1.1B Valuation to Enhance AI Agent SecurityThe SaaS News•Aug 05, 2026•Obsidian Security, Greylock Partners, Norwest, IVP and 4 others
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Israeli startup Zenity secures $125M in Series C funding for AI agent securitySiliconAngle•Aug 04, 2026•Zenity, Norwest, SoftBank Vision Fund, Qumra Capital and 6 others
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Veriqus, founded by ex-Julius Baer India CEO, raises funding in Norwest-led roundVCCircle•Jul 20, 2026•Norwest, VERIQUS
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CovalAi Secures $28 Million in Series A Funding for Voice AI Testing PlatformSina•Jun 24, 2026•Coval.ai, Twilio, Y Combinator, Base10 Partners and 2 others
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Endovascular Engineering Collects $80 Million in FundingMedical Product Outsourcing•Jun 19, 2026•Norwest, Endovascular Engineering, Gilde Healthcare
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Remedy Secures $20 Million Series A Funding Led by L Cattertonbeautyindependent.com•Jun 12, 2026•L Catterton, Norwest, Remedy Skin, Sonoma Brands Capital
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Jedify Secures $24 Million in Series A Funding for Enterprise AI Infrastructure PlatformStartup Log•Jun 11, 2026•Jedify, Norwest, S Capital VC, Oceans and 4 others
