About Refactor Capital
Refactor Capital is a venture capital firm founded in 2016. It is primarily based out of Burlingame, United States. As of Oct 2025, Refactor Capital is an active investor, having invested in 98 companies, with 1 new investment in the last 12 months. 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 HealthTech. Most recently it participated in the $***** Seed round of Pila Energy Overall, Refactor Capital portfolio has seen 4 unicorns, 1 IPO and 12 acquisitions including key companies like Coinbase, Clover Health and Headspace. A lot of funds co-invest with Refactor Capital, with names like BoxGroup sharing a substantial percentage of its portfolio. Refactor Capital has team of 4 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 2 more
Portfolio IPOs
Deals in last 12 months
Refactor Capital's List of Top Investments
Refactor Capital has a portfolio of 98 companies, including 4 unicorns. Their most notable investments are in Granza Bio and Cambridge Cancer Genomics.Their portfolio spans across United States, United Kingdom, Australia and 4 more locations. They have invested in Enterprise Applications, Life Sciences, HealthTech and 27 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Refactor Capital:
1. Coinbase
Online platform for crypto portfolio. It offers solutions for consumers such as regular trading platforms, wallets for storing cryptocurrencies, crypto exchanges, USD-backed stable coins, and more. It also provides solutions for businesses such as custodian services, crypto-based payment acceptance solutions, and more.
Key facts about Coinbase
- Founded Year: 2012
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $547M
- Employee Count: 7,025 as on Sep 30, 2026
- Investors: Intel, 2020 Ventures and 149 Others
- Latest Funding Round: Post IPO, Aug 13, 2021, $*****
- Highlight: Public
Provider of medicare advantage plans and related services. It offers various plans, including PPO and HMO options, providing coverage for prescription drugs, doctor visits, and supplemental benefits such as dental, vision, and hearing care. Members have access to online tools to manage their plans, search for in-network providers, and check drug coverage. The company also offers resources and support for providers and agents involved in the medicare advantage market. Services include a provider portal, agent tools, and educational materials about medicare.
Key facts about Clover Health
- Founded Year: 2014
- Location: Jersey City (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $938M
- Employee Count: 764 as on Sep 30, 2026
- Investors: Western Technology Investment, Goldman Sachs and 38 Others
- Latest Funding Round: Series E, Jan 29, 2019, $*****
- Highlight: Editors' Pick
3. Headspace
Provider of mental health support services via application and human care. The company delivers personalized support through meditation, mindfulness, coaching, and therapy. It offers resources for stress management, sleep improvement, and mental well-being. The company also provides services to businesses, health plans, and organizations.
Key facts about Headspace
- Founded Year: 2010
- Location: Santa Monica (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $178M
- Employee Count: 1,559 as on Jul 31, 2026
- Investors: Allen & Company, Advance Venture Partners and 50 Others
- Latest Funding Round: Venture Debt, Jul 26, 2023, $*****
- Highlight: Acquired
4. Qventus
AI-based software to help optimize hospital operations. The platform predicts issues, prescribes an immediate recommendation, and persuades the right team member to take action. The solutions are focused on the emergency department, operating rooms, and patient safety. It helps optimize ED by eliminating surges and reducing the length of stay. It helps to optimize OR scheduling, and monitors OR data to predict demand, recommend turnaround prioritization, and staffing requirements. It also offers a fall prevention solution that evaluates multiple data including call button and bed movement data to predict which patients are at risk for a possible fall.
Key facts about Qventus
- Founded Year: 2011
- Location: Los Altos (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $201M
- Employee Count: 269 as on Sep 30, 2026
- Investors: Pegasus Tech Ventures, StartX and 21 Others
- Latest Funding Round: Series D, Jan 13, 2025, $*****
- Highlight: Editors' Pick
5. PathAI
Provider of digital pathology image management system for clinical labs. It offers an AISight is a cloud-native intelligent enterprise workflow solution used by the laboratories and research centers to power their digital pathology workflows and AI applications. It serves as a central hub for case management, image management, and best-in-class artificial intelligence tools to enable multiple histopathology use cases.
Key facts about PathAI
- Founded Year: 2016
- Location: Boston (United States)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $255M
- Employee Count: 279 as on Sep 30, 2026
- Investors: Deep Learning, General Atlantic and 22 Others
- Latest Funding Round: Series C, May 18, 2021, $*****
- Highlight: Editors' Pick
Refactor Capital's Year-on-Year Investment Trends
Refactor Capital has invested in 98 companies over the last 10 years, with an average of 5 new investments annually in the last 10 years. In 2025, it made 4 investments. Its most recent first time investment was in Pila Energy and most recent follow-on round was in General Galactic.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 4 | 0 | 4 |
2024 | 3 | 3 | 6 |
2023 | 7 | 0 | 7 |
2022 | 5 | 3 | 8 |
2021 | 5 | 8 | 13 |
2020 | 4 | 2 | 6 |
2019 | 7 | 3 | 10 |
2018 | 8 | 0 | 8 |
2017 | 8 | 0 | 8 |
Refactor Capital's Investments by Stage
Refactor Capital has made 30 investments in Seed stage with an average round size of $5.32M, 22 investments in Series A stage with an average round size of $11.4M, 2 investments in Series B stage with an average round size of $63.5M and 1 investment in Series C stage with an average round size of $160M.Stage of entry | No. of Investments |
|---|---|
Seed | 30 |
Series A | 22 |
Series B | 2 |
Series C | 1 |
Note: We have considered here, only first round of investments
Refactor Capital's Investments by Sector
Refactor Capital has a diverse portfolio, with companies operating in the Enterprise Applications, Life Sciences, HealthTech, High Tech and Sustainability Tech. Notably, it has invested in 84 Tech companies, 67 Enterprise (B2B) companies, 41 Software companies and at least 29 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 20 |
Life Sciences | 20 |
HealthTech | 16 |
High Tech | 15 |
Sustainability Tech | 13 |
Others | 51 |
Note: We have considered here, only first round of investments
Refactor Capital's Investments by Geography
Refactor Capital has made most investments in United States (51), followed by United Kingdom where it has made 3 investments.Country | No. of Investments |
|---|---|
United States | 51 |
United Kingdom | 3 |
Australia | 1 |
Note: We have considered here, only first round of investments
Refactor Capital's recent investments
Refactor Capital has not made any investment in 2026 so far.Here are the most recent investments by Refactor Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 23, 2025 | United States | Seed | 2029 | [+2] | |
Apr 10, 2025 | United States | Seed | 8820 | [+2] | |
Mar 12, 2025 | United States | Seed | 7239 | [+4] | |
Feb 05, 2025 | United States | Series A | 7747 | [+3] | |
Nov 12, 2024 | United States | Seed | 6344 | [+7] |
Unicorns in Refactor Capital's Portfolio
Refactor Capital has 4 unicorns in its portfolio - Solugen, People.ai, Astranis and others. The most recent unicorn in their portfolio is Solugen. It became a unicorn in 2021, 3 years after Refactor Capital first invested in it.Here is a list of unicorns in Refactor Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
60 | Developer of industrial solutions for oil and gas, fuels, and defense | 2016 | Houston | Series D | ciycpub | ||
66 | Developer of an AI revenue platform for sales team enablement | 2016 | San Francisco | Series D | prwcuym | ||
65 | Developer of satellite-based communication services | 2015 | San Francisco | Series E | uopfamo | ||
74 | Provider of medicare advantage plans and related services | 2014 | Jersey City | Series E | rsxelwl |
IPOs and Publicly Listed companies in Refactor Capital's Portfolio
1 of Refactor Capital's portfolio company became public - Coinbase. It got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Apr 2021 at marketcap of $28.7BHere are Refactor Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 14, 2021 | - | - | 2957 |
Acquired companies in Refactor Capital's Portfolio
12 companies from Refactor Capital's portfolio have been acquired. The most recent acquisition was Headspace in Sep 2026 by Sword.com for $*****.Here are Refactor Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 16, 2026 | - | - | 2838 | |
Jul 24, 2025 | Jan 18, 2018 | Seed | 6727 | |
Aug 04, 2022 | - | - | 4198 | |
May 12, 2022 | Sep 19, 2019 | Series A | 1580 | |
Nov 15, 2021 | Oct 05, 2018 | Series A | 5318 |
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Team profile of Refactor Capital
Refactor Capital has a team of 4 members including 3 Partners located in United States. Refactor Capital's team does not sit on the board of any company as of now.Here is a list of all team members in Refactor Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | San Francisco | - | ||
Partner | San Francisco | - | ||
Partner | San Francisco | - | - |
Co-investors of Refactor Capital
Over the past 10 years, 471 investors have co-invested in Refactor Capital's portfolio companies. This includes funds and angels.
- Invested before Refactor Capital: Y Combinator, Liquid 2 Ventures and 42 others have invested in rounds before Refactor Capital. There are 10 companies where Y Combinator has invested before Refactor Capital and 2 companies where Liquid 2 Ventures has invested before Refactor Capital.
- Top Co-investors of Refactor Capital: 245 investors entered a company along with Refactor Capital. These include investors like BoxGroup (5 companies).
- Invested after Refactor Capital: A total of 182 investors have invested in Refactor Capital's portfolio after their investments. Top Investors include Tiger Global Management (3 companies), D1 Capital Partners (2 companies) and Interplay (2 companies).
Recent News related to Refactor Capital
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Pila Raises $4M in Seed FundingFinSMEs•Oct 23, 2025•R7 Partners, GS Futures, Toyota Ventures, Refactor Capital and 1 other
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Remedy Scientific Secures $11M Seed Funding for Environmental Remediation AutomationFinSMEs•Apr 10, 2025•Remedy Scientific, Refactor Capital, Cantos Ventures, BoxGroup and 1 other
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Causal Labs Raises $6M in Seed FundingFinSMEs•Mar 13, 2025•Causal Company, Karman, OTHERWISE, Factorial and 6 others
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Causal Labs Raises $6M Seed Funding to Build AI for Weather Prediction and ControlBusiness Wire•Mar 12, 2025•Causal Labs, Kindred Ventures, BoxGroup, Refactor Capital and 3 others
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Miist Therapeutics Announces $7m In Funding To Develop Instant-acting Medicineintelligence360•Feb 21, 2025•Miist Therapeutics, Refactor Capital, 1517 Fund, FreeFlow and 2 others
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Miist Therapeutics Raises $7M in FundingFinSMEs•Feb 05, 2025•Miist Therapeutics, Refactor Capital, 1517 Fund, FreeFlow and 3 others
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General Galactic Raises $8M to Advance Fossil-Free Fuel Revolutionintelligence360•Nov 19, 2024•General Galactic, Harpoon, Refactor Capital, Pathbreaker Ventures and 5 others
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General Galactic Raises $8M in Seed FundingFinSMEs•Nov 12, 2024•General Galactic, Harpoon, Refactor Capital, Pathbreaker Ventures and 7 others
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Granza Bio grabs $7M seed from Felicis and YC to advance delivery of cancer treatmentsTechCrunch+•Jul 03, 2024•Granza Bio, Felicis Ventures, Redactive, Blackbird Ventures and 10 others
