About Transform VC
Transform VC is a venture capital firm founded in 2016. It is primarily based out of San Francisco, United States. As of Jun 2026, Transform VC is an active investor, having invested in 23 companies, with 2 new investments 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 High Tech and Life Sciences. Most recently it participated in the $***** Seed round of Clario Overall, Transform VC portfolio has seen 4 unicorns, 2 IPOs and 2 acquisitions including key companies like CollectiveHealth, Tonal and Recursion Pharmaceuticals. A lot of funds co-invest with Transform VC, with names like Firebolt Ventures sharing a substantial percentage of its portfolio. Transform VC has team of 25 people including 8 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio IPOs
Portfolio Unicorns
Portfolio Soonicorns
Transform VC's List of Top Investments
Transform VC has a portfolio of 23 companies, including 4 unicorns. Their most notable investments are in Plan A and NEXT Life Sciences.Their portfolio spans across United States and Canada. They have invested in Enterprise Applications, High Tech, Life Sciences and 12 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Transform VC:Collective Health offers a cloud-based self-insurance platform for employers to sponsor their employees. The platform allows employers to customize plans to fit their needs. The cloud-based platform integrates with the organization's existing HR and Finance systems and provides real-time data and actionable insights and also brings medical, pharmacy, dental, and vision networks together.
Key facts about CollectiveHealth
- Founded Year: 2013
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $714M
- Employee Count: 813 as on May 31, 2026
- Investors: Western Technology Investment, G Squared and 39 Others
- Latest Funding Round: Series F, May 04, 2021, $*****
- Highlight: Editors' Pick
2. Tonal
Provider of smart home gym equipment and personalized workout programs. The company offers equipment with adaptive weight technology and real-time guidance. It provides access to various workouts and training programs. Memberships include unlimited accounts for household use and advanced lifting modes. The company also offers certified refurbished equipment and accessories.
Key facts about Tonal
- Founded Year: 2015
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $535M
- Employee Count: 403 as on May 31, 2026
- Investors: Sapphire Ventures, Dragoneer Investment Group and 41 Others
- Latest Funding Round: Series E, Apr 10, 2023, $*****
- Highlight: Editors' Pick
AI-enabled drug discovery and development platform for novel therapeutics. It focuses on identifying new targets and designing optimized molecules. The platform utilizes biological and chemical datasets, machine learning models, and a supercomputer to accelerate the discovery of medicines. It aims to improve the speed and efficiency of drug development for conditions with high unmet needs, including cancers and rare diseases. The company also forms strategic partnerships to expand its impact on patients.
Key facts about Recursion Pharmaceuticals
- Founded Year: 2013
- Location: New York (United States)
- Annual Revenue: $50M - $100M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $452M
- Employee Count: 755 as on Mar 31, 2026
- Investors: HTIF, CRV and 47 Others
- Latest Funding Round: Post IPO, Jul 12, 2023, $*****
- Highlight: Public
4. Color
Provider of end-to-end Virtual clinic offering cancer-based solutions. It assesses cancer risk, increases screening accessibility, and accelerates diagnosis. It guides patients through treatment and provides support for survivors. It offers direct care through an in house care team, including oncologists, primary care physicians, genetic counselors, and oncology-trained care advocates. It integrates with health plans and existing benefits ecosystems.
Key facts about Color
- Founded Year: 2013
- Location: Burlingame (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $491M
- Employee Count: 631 as on May 31, 2026
- Investors: Foresite Capital, T. Rowe Price and 46 Others
- Latest Funding Round: Series E, Oct 26, 2021, $*****
- Highlight: Editors' Pick
5. Ample
Provider of modular battery swapping for electric vehicles. The company delivers fully charged batteries to electric vehicles using modular battery swapping technology. This technology allows for a quick exchange of depleted batteries with fully charged ones. The modular design adapts to various electric vehicle makes and models.
Key facts about Ample
- Founded Year: 2014
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $301M
- Employee Count: 63 as on May 31, 2026
- Investors: WorldQuant Ventures, Shell and 20 Others
- Latest Funding Round: Series D, Nov 19, 2024, $*****
- Highlight: Editors' Pick
Transform VC's Year-on-Year Investment Trends
Transform VC has invested in 23 companies over the last 4 years, with an average of 1 new investment annually in the last 3 years. In 2025, it made 1 investment, while as of Jun 2026, it has made 1 investment in this year. Its most recent first time investment was in Clario.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 1 | 0 | 1 |
2024 | 2 | 0 | 2 |
2023 | 1 | 0 | 1 |
2022 | 3 | 0 | 3 |
Transform VC's Investments by Stage
Transform VC has made 6 investments in Seed stage with an average round size of $7.67M, 1 investment in Series A stage with an average round size of $41M and 1 investment in Series B stage with an average round size of $30M.Stage of entry | No. of Investments |
|---|---|
Seed | 6 |
Series A | 1 |
Series B | 1 |
Note: We have considered here, only first round of investments
Transform VC's Investments by Sector
Transform VC has a diverse portfolio, with companies operating in the Enterprise Applications, Life Sciences, High Tech, Auto Tech and Energy Tech. Notably, it has invested in 23 Tech companies, 19 Enterprise (B2B) companies, 15 Software companies and at least 7 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 3 |
Life Sciences | 3 |
High Tech | 2 |
Auto Tech | 1 |
Energy Tech | 1 |
Others | 6 |
Note: We have considered here, only first round of investments
Transform VC's Investments by Geography
Transform VC has made most investments in United States (7), followed by Canada where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 7 |
Canada | 1 |
Note: We have considered here, only first round of investments
Transform VC's recent investments
Transform VC has made 1 investments in 2026 so far - Clario.Here are the most recent investments by Transform VC:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jun 17, 2026 | United States | Seed | 6680 | [+10] | |
Oct 24, 2025 | United States | Seed | 7868 | [+5] | |
Jan 16, 2024 | United States | Seed | 9953 | - | |
Jan 16, 2024 | United States | Seed | 1101 | [+7] | |
Apr 26, 2023 | United States | Seed | 3967 |
Unicorns in Transform VC's Portfolio
Transform VC has 4 unicorns in its portfolio - Ample, CollectiveHealth, Tonal and others. The most recent unicorn in their portfolio is Ample. It became a unicorn in 2021, 4 years before Transform VC first invested in it.Here is a list of unicorns in Transform VC's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
64 | Provider of modular battery swapping for electric vehicles | 2014 | San Francisco | Series D | ystykts | ||
72 | Cloud-based self-insurance platform for employers to sponsor their employees | 2013 | San Francisco | Series F | dobiyxm | ||
72 | Provider of smart home gym equipment and personalized workout programs | 2015 | San Francisco | Series E | vjgbaez | ||
66 | Provider of end-to-end Virtual clinic offering cancer-based solutions | 2013 | Burlingame | Series E | cauikeh |
IPOs and Publicly Listed companies in Transform VC's Portfolio
2 of Transform VC's portfolio companies have become public. Recursion Pharmaceuticals got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Apr 2021 at marketcap of $2.92B and Eyecarrot got listed on the Toronto Stock Exchange - Venture Exchange (TSX-V) at marketcap of $1.2M.Here are Transform VC's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 16, 2021 | - | - | 3636 | |
Jul 13, 2015 | - | - | 1626 |
Acquired companies in Transform VC's Portfolio
2 companies from Transform VC's portfolio have been acquired. The most recent acquisition was C2FO in Jul 2026 by Mynd Fintech for $*****.Here are Transform VC's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 03, 2026 | - | - | 1834 | |
May 25, 2023 | - | - | 2458 |
Team profile of Transform VC
Transform VC has a team of 25 members including 8 Partners and 1 Venture Partner located in United States, United Kingdom and 2 more locations. Transform VC's team does not sit on the board of any company as of now.Here is a list of top team members in Transform VC:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Oakland | - | - | |
Partner | Hermosa Beach | - | ||
Partner | San Francisco | - | ||
Partner | Ottawa | - | ||
Partner | San Francisco | - | ||
Partner | Saudi Arabia | - | ||
Partner | Chicago | - | - | |
Partner | Mountain View | - | ||
Venture Partner | United Kingdom | - |
Co-investors of Transform VC
Over the past 4 years, 55 investors have co-invested in Transform VC's portfolio companies. This includes funds and angels.
- Invested before Transform VC: HHS, DCVC and 1 other have invested in rounds before Transform VC. There is 1 company where HHS has invested before Transform VC and 1 company where DCVC has invested before Transform VC.
- Top Co-investors of Transform VC: 43 investors entered a company along with Transform VC. These include investors like Firebolt Ventures (2 companies).
- Invested after Transform VC: A total of 9 investors have invested in Transform VC's portfolio after their investments. Top Investors include Lilly (1 company), Jefferson Life Sciences (1 company) and Mubadala Capital (1 company).
Recent News related to Transform VC
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Clario Launches with $6M Seed Funding to Rid Enterprises of Garbage DataI Insider•Jun 24, 2026•Foster Ventures, Page One Ventures, Mentors Fund, Highsage and 7 others
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Kuvi.ai Raises $700K to Launch Agentic FinanceOS for Easy Crypto TradingTech Funding News•Jul 29, 2025•Kuvi, Virtualbacon, Transform VC, Moon Pursuit
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Nycrypto Labs Secures $800K To Scale Tidus, The ‘Everything’ App Every DeFi User NeedsDnyuz•Jul 02, 2024•Nycrypto, DNA, Transform VC, and 3 others
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The Family Leads NEXT Life Sciences $2.5 Million Funding Round for Plan A Male Birth ControlEIN Presswire•Jan 17, 2024•NEXT Life Sciences, The Family, Transform VC, StartUp Health and 6 others
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Aye Finance Receives a £2,00,000 Grant from TransformOutlook India•Jun 09, 2023•AYEFin, Unilever, Transform VC, EY
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Reach Raises $30M in Series B FundingFinSMEs•Dec 05, 2022•Reach, DCVC, Y Combinator, Transform VC and 10 others
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BoostSecurity’s $12 Million Seed FinancingGlobal Legal Chronicle•Nov 26, 2022•Boost Security, Osler, Sorenson Capital, Hoxton Ventures and 3 others
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