About Ten Coves Capital
Ten Coves Capital is a venture capital firm founded in 2020. It is primarily based out of Darien, United States. As of Sep 2026, Ten Coves Capital is an active investor, having invested in 41 companies, with 4 new investments in the last 12 months. It primarily invests in Series C round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to FinTech and High Tech. Most recently it participated in the $***** Series A round of Luminary Overall, Ten Coves Capital portfolio has seen 3 unicorns, 2 IPOs and 17 acquisitions including key companies like Bill, HealthEquity and AlphaSense. A lot of funds co-invest with Ten Coves Capital, with names like RBC Royal Bank sharing a substantial percentage of its portfolio. Ten Coves Capital has team of 5 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Series C & 2 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Deals in last 12 months
Ten Coves Capital's List of Top Investments
Ten Coves Capital has a portfolio of 41 companies, including 3 unicorns. Their most notable investments are in Circit and Benefitbay.Their portfolio spans across United States, Canada, United Kingdom and 2 more locations. They have invested in Enterprise Applications, FinTech, High Tech, FinTech and 14 other sectors, across stages such as Series B, Series C and 2 more. Here is the list of top investments by Ten Coves Capital:
1. Bill
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
- Founded Year: 2006
- Location: San Jose (United States)
- Annual Revenue: $1B+ as on Jun 30, 2025
- Stage: Public
- Total Funding till date: $326M
- Employee Count: 3,128 as on Aug 31, 2026
- Investors: HTIF, August Capital and 28 Others
- Latest Funding Round: Post IPO, Nov 30, 2020, $*****
- Highlight: Public
2. HealthEquity
Employee benefits management platform for individuals and businesses. It provides an app based platform to assist in health savings, health plan solutions to help individuals build health savings while assisting employers to cut costs on benefits through integrated health care account administration, and investment tools. It features personalized savings strategies and consumer education tools. It allows users to upload photos of medical bills to initiate claims and payments, make payments to providers or reimburse out of pocket expenses from the insurer. It is also available on the Android and iOS version.
Key facts about HealthEquity
- Founded Year: 2002
- Location: Draper (United States)
- Annual Revenue: $1B+ as on Jan 31, 2026
- Stage: Public
- Total Funding till date: $15.3M
- Employee Count: 2,413 as on Aug 31, 2026
- Investors: Napier Park Global Capital, Vulcan Capital and 4 Others
- Latest Funding Round: Series B, Aug 11, 2011, $*****
- Highlight: Public
3. AlphaSense
AI powered market intelligence and search platform. It collects finance data from SEC filings, broker research, conference call transcripts, investor relation presentations, and more. It offers equity research reports on different sectors, companies, and industries. Its features include AI chat assistant, competitor monitoring, summaries, collaboration, analytics, and more. It caters its solutions to industries such as finance, life science, telecom, and more.
Key facts about AlphaSense
- Founded Year: 2011
- Location: New York (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $1.74B
- Employee Count: 3,378 as on Aug 31, 2026
- Investors: Goldman Sachs, CapitalG and 41 Others
- Latest Funding Round: Series F, Jun 03, 2026, $*****
- Highlight: Editors' Pick
4. Procurify
Developer of procurement software for managing organizational spend and workflows. This platform automates the full purchasing lifecycle, including intake, approval routing, purchase order generation, invoice matching, and payment processing. It integrates with financial systems to provide real-time visibility into expenditures and budget tracking. The software utilizes automated agents to draft requests, code invoices, and perform three-way matching based on organizational data. Finance and operations teams use these tools to enforce spending policies, maintain audit trails, and reduce manual administrative tasks throughout the procurement process.
Key facts about Procurify
- Founded Year: 2012
- Location: Vancouver (Canada)
- Stage: Series C
- Total Funding till date: $82.5M
- Employee Count: 169 as on May 31, 2026
- Investors: HarbourVest Partners, Information Venture Partners and 22 Others
- Latest Funding Round: Venture Debt, Nov 04, 2024, $*****
- Highlight: Editors' Pick
Provider of AI-powered telematics and mobility safety solutions. It delivers real-time driving risk assessment, crash detection, driver coaching, and claims support solutions for insurers, mobility providers, gig platforms, and public sector organizations. Its AI-driven analytics engine combines data from smartphones, vehicles, and connected devices to generate actionable safety insights, helping reduce distracted driving, improve driver behavior, lower accident rates, and optimize insurance and mobility programs at global scale.
Key facts about Cambridge Mobile Telematics
- Founded Year: 2010
- Location: Cambridge (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $852M
- Employee Count: 466 as on Apr 30, 2026
- Investors: SoftBank Vision Fund, Raptor Group and 4 Others
- Latest Funding Round: Series D, Mar 24, 2026, $*****
- Highlight: Editors' Pick
Ten Coves Capital's Year-on-Year Investment Trends
Ten Coves Capital has invested in 41 companies over the last 5 years, with an average of 3 new investments annually in the last 5 years. In 2025, it made 6 investments, while as of Sep 2026, it has made 5 investments in this year. Its most recent first time investment was in Luminary and most recent follow-on round was in MarginEdge.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 4 | 1 | 5 |
2025 | 2 | 4 | 6 |
2024 | 1 | 2 | 3 |
2023 | 2 | 0 | 2 |
2022 | 3 | 1 | 4 |
2021 | 7 | 1 | 8 |
Ten Coves Capital's Investments by Stage
Ten Coves Capital has made 9 investments in Series B stage with an average round size of $26.9M, 5 investments in Series C stage with an average round size of $40.5M, 4 investments in Series A stage with an average round size of $21.3M and 1 investment in Unattributed stage with an average round size of $16M.Stage of entry | No. of Investments |
|---|---|
Series B | 9 |
Series C | 5 |
Series A | 4 |
Unattributed | 1 |
Note: We have considered here, only first round of investments
Ten Coves Capital's Investments by Sector
Ten Coves Capital has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, Vertical SaaS, High Tech and Artificial Intelligence - Industry Applications. Notably, it has invested in 37 Tech companies, 36 Enterprise (B2B) companies, 31 Software companies and at least 23 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 17 |
FinTech | 14 |
Vertical SaaS | 10 |
High Tech | 4 |
Artificial Intelligence - Industry Applications | 3 |
Others | 13 |
Note: We have considered here, only first round of investments
Ten Coves Capital's Investments by Geography
Ten Coves Capital has made most investments in United States (11), followed by Canada where it has made 5 investments.Country | No. of Investments |
|---|---|
United States | 11 |
Canada | 5 |
United Kingdom | 2 |
Ireland | 1 |
Note: We have considered here, only first round of investments
Ten Coves Capital's recent investments
Ten Coves Capital has made 5 investments in 2026 so far. Luminary and MarginEdge are the latest among them.Here are the most recent investments by Ten Coves Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 10, 2026 | United States | Series A | 8949 | [+4] | |
Aug 06, 2026 | United States | Series D | 5635 | [+3] | |
May 21, 2026 | United States | Series A | 2634 | - | |
Feb 10, 2026 | Ireland | Series B | 5712 | ||
Jan 13, 2026 | United States | Unattributed | 6089 | - |
Unicorns in Ten Coves Capital's Portfolio
Ten Coves Capital has 3 unicorns in its portfolio - AlphaSense, Cambridge Mobile Telematics and Plaid. The most recent unicorn in their portfolio is AlphaSense. It became a unicorn in 2022, 4 years before Ten Coves Capital first invested in it.Here is a list of unicorns in Ten Coves Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
74 | AI powered market intelligence and search platform | 2011 | New York | Series F | hbarzx{ | ||
72 | Provider of AI-powered telematics and mobility safety solutions | 2010 | Cambridge | Series D | wzcgapk | ||
69 | Provider of a network for connecting financial accounts to applications | 2012 | San Francisco | Series E | {iqayuw |
IPOs and Publicly Listed companies in Ten Coves Capital's Portfolio
2 of Ten Coves Capital's portfolio companies have become public. Bill got listed on the New York Stock Exchange (NYSE), in Dec 2019 and HealthEquity got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $694M.Here are Ten Coves Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 12, 2019 | - | - | 1309 | |
Jul 31, 2014 | - | - | 8953 |
Acquired companies in Ten Coves Capital's Portfolio
17 companies from Ten Coves Capital's portfolio have been acquired. The most recent acquisition was TouchBistro in Jul 2026 by Harris Computer for $*****.Here are Ten Coves Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 13, 2026 | - | - | 7387 | |
Jun 23, 2026 | - | - | 2344 | |
Apr 03, 2026 | Dec 14, 2021 | Series B | 8401 | |
Sep 16, 2025 | - | - | 1904 | |
Dec 14, 2023 | - | - | 2619 |
Team profile of Ten Coves Capital
Ten Coves Capital has a team of 5 members including 3 Partners and 1 Principal located in United States. Ten Coves Capital's team sits on the board of 1 company.Here is a list of all team members in Ten Coves Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | New York City | - | ||
Partner | New Canaan | - | - | |
Partner | New York City | - | ||
Principal | New York City | - | - |
Co-investors of Ten Coves Capital
Over the past 5 years, 150 investors have co-invested in Ten Coves Capital's portfolio companies. This includes funds and angels.
- Invested before Ten Coves Capital: BDC, Napier Park Global Capital and 118 others have invested in rounds before Ten Coves Capital. There are 3 companies where BDC has invested before Ten Coves Capital and 2 companies where Napier Park Global Capital has invested before Ten Coves Capital.
- Top Co-investors of Ten Coves Capital: 21 investors entered a company along with Ten Coves Capital. These include investors like RBC Royal Bank (2 companies).
- Invested after Ten Coves Capital: A total of 9 investors have invested in Ten Coves Capital's portfolio after their investments. Top Investors include Canadian Imperial Bank of Commerce (2 companies), SoftBank Vision Fund (1 company) and Viking Global Investors (1 company).
Recent News related to Ten Coves Capital
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Luminary Raises $22M in Series A FundingFinSMEs•Sep 10, 2026•Luminary, Ten Coves Capital, 8VC, BNY and 2 others
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Circit Secures $22 Million Growth Equity Funding for Audit VerificationPR Newswire•Feb 11, 2026•Ten Coves Capital, MiddleGame Ventures, Aquiline Capital Partners, Circit and 1 other
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Inbox Health Raises $20M to Modernize Patient Billing with AIHIT Consultant•Sep 15, 2025•Ten Coves Capital, Inbox Health, Commerce Ventures, Connecticut Innovations and 4 others
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Blue J Secures $122M Series D Funding Led by Oak HC/FT and Sapphire VenturesFinancial Post•Aug 04, 2025•Intrepid Growth Partners, Sapphire Ventures, Blue J, Ten Coves Capital and 4 others
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BetterComp Secures $33M Series A to Expand into New Markets & Advance AI in Compensation PracticesThe Joplin Globe•Jul 22, 2025•BetterComp, Ten Coves Capital
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Canopy Raises $70 Million Series C to Accelerate AI-Powered Accounting TransformationTechBuzz•Apr 24, 2025•Canopy, Viking Global Investors, Ten Coves Capital, Ankona Capital and 2 others
