About Underscore VC
Underscore VC is a venture capital firm founded in 2015. It is primarily based out of Boston, United States. As of Apr 2026, Underscore VC is an active investor, having invested in 62 companies, with 4 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 Retail and High Tech. Most recently it participated in the $***** Seed round of Gander Robotics Overall, Underscore VC portfolio has seen 2 unicorns and 14 acquisitions including key companies like Coda, Project44 and Goldcast. A lot of funds co-invest with Underscore VC, with names like Madrona sharing a substantial percentage of its portfolio. Underscore VC has team of 41 people including 14 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 3 more
Portfolio Soonicorns
Deals in last 12 months
Underscore VC's List of Top Investments
Underscore VC has a portfolio of 62 companies, including 2 unicorns. Their most notable investments are in Kudos and Hi Marley.Their portfolio spans across United States and France. They have invested in Enterprise Applications, Retail, High Tech and 17 other sectors, across stages such as Seed, Series A and 3 more. Here is the list of top investments by Underscore VC:1. Coda
Coda is a document and spreadsheet based project management application. It allows teams to manage data and information in one place with a customized view, combine documents, spreadsheets and cards into single documents and manages teams ideas. It allows users to manage kanban boards for projects, edit and collect documents and share with others. Addition to that also provides solutions for word processing, spreadsheet and database management. Provides mobile app for iOS devices. Clientele includes Uber, Spotify, Box, Doordash, The New York Times and others.
Key facts about Coda
- Founded Year: 2014
- Location: San Francisco (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $240M
- Employee Count: 141 as on Mar 31, 2026
- Investors: AME Cloud Ventures, General Catalyst and 25 Others
- Latest Funding Round: Series D, Jul 08, 2021, $*****
- Highlight: Acquired
2. Project44
Provider of cloud-based cargo and supply chain visibility tracking solutions. It provides users with a platform that connects shippers and 3PLs to carriers through the integration of a transport management system. It enables users to pull carrier rate quotes, automate dispatch requests, track shipments, and pull images. It also offers visibility solutions such as carrier rating, workflow automation, tracking, and dynamic rate quotes. It provides solutions for industries such as retail, manufacturing, life sciences, food and beverage, and consumer goods.
Key facts about Project44
- Founded Year: 2014
- Location: Chicago (United States)
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $912M
- Employee Count: 779 as on Mar 31, 2026
- Investors: Thoma Bravo, Sapphire Ventures and 25 Others
- Latest Funding Round: Series G, Nov 03, 2022, $*****
- Highlight: Editors' Pick
3. Goldcast
Cloud based platform offering virtual event management solutions. Features include virtual event marketing, detailed onboarding, attendee tracking, custom branding, white glove support, post event analytics, CRM integrations, attendee engagement management, interactive discussion rooms, and more.
Key facts about Goldcast
- Founded Year: 2020
- Location: Cambridge (United States)
- Stage: Acquired
- Total Funding till date: $42M
- Employee Count: 200 as on Mar 31, 2026
- Investors: Underscore VC, Afore Capital and 15 Others
- Latest Funding Round: Series A, Aug 25, 2022, $*****
- Highlight: Acquired
4. BusRight
Tech-enabled school-bus tracking and management solutions. It offers solutions for school administrators to manage vehicle tracking, parent communication, and more. It offers a centralized platform to manage operations. Parents can keep track of their child's journey in real-time. Bus operators can get navigation and optimized routes for efficient driving. They also offers features like real-time tracking, turn-by-turn navigation for drivers, real-time bus schedules, and more. The mobile application is available for both Android and iOS devices.
Key facts about BusRight
- Founded Year: 2017
- Location: Boston (United States)
- Stage: Series C
- Total Funding till date: $63.1M
- Employee Count: 89 as on Mar 31, 2026
- Investors: Volition Capital, Underscore VC and 23 Others
- Latest Funding Round: Series C, Mar 18, 2026, $*****
- Highlight: Editors' Pick
5. Messari
Online platform for cryptocurrency-related content, token analytics, and research to users. Also provides background details, technology overviews, and token economics reviews of the various blockchain projects. It also provides a screener for Defi assets, stable coins, currency assets, and more.
Key facts about Messari
- Founded Year: 2018
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $61M
- Employee Count: 109 as on Mar 31, 2026
- Investors: Rising Tide Fund, DHVC and 40 Others
- Latest Funding Round: Series B, Sep 21, 2022, $*****
- Highlight: Editors' Pick
Underscore VC's Year-on-Year Investment Trends
Underscore VC has invested in 62 companies over the last 10 years, with an average of 5 new investments annually in the last 10 years. In 2025, it made 8 investments, while as of Apr 2026, it has made 3 investments in this year. Its most recent first time investment was in Gander Robotics and most recent follow-on round was in Slang.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 2 | 3 |
2025 | 6 | 2 | 8 |
2024 | 0 | 1 | 1 |
2023 | 2 | 4 | 6 |
2022 | 7 | 5 | 12 |
2021 | 11 | 3 | 14 |
2020 | 10 | 2 | 12 |
2019 | 3 | 1 | 4 |
2018 | 5 | 2 | 7 |
2017 | 4 | 1 | 5 |
Underscore VC's Investments by Stage
Underscore VC has made 30 investments in Seed stage with an average round size of $4.56M, 16 investments in Series A stage with an average round size of $11M, 2 investments in Series B stage with an average round size of $8M, 2 investments in Series C stage with an average round size of $55M and 1 investment in Series D stage with an average round size of $100M.Stage of entry | No. of Investments |
|---|---|
Seed | 30 |
Series A | 16 |
Series B | 2 |
Series C | 2 |
Series D | 1 |
Note: We have considered here, only first round of investments
Underscore VC's Investments by Sector
Underscore VC has a diverse portfolio, with companies operating in the Enterprise Applications, Vertical SaaS, FinTech, Enterprise Infrastructure and Retail. Notably, it has invested in 59 Tech companies, 52 Enterprise (B2B) companies, 46 Software companies and at least 34 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 37 |
Vertical SaaS | 13 |
FinTech | 12 |
Enterprise Infrastructure | 9 |
Retail | 9 |
Others | 46 |
Note: We have considered here, only first round of investments
Underscore VC's Investments by Geography
Underscore VC has made most investments in United States (50), followed by France where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 50 |
France | 1 |
Note: We have considered here, only first round of investments
Underscore VC's recent investments
Underscore VC has made 3 investments in 2026 so far. Gander Robotics and Slang are the latest among them.Here are the most recent investments by Underscore VC:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 02, 2026 | United States | Seed | 2063 | ||
Feb 24, 2026 | United States | Conventional Debt | 7884 | ||
Feb 24, 2026 | United States | Series B | 5554 | ||
Sep 15, 2025 | United States | Series A | 7566 | [+4] | |
Jul 23, 2025 | United States | Seed | 1551 | [+3] |
Unicorns in Underscore VC's Portfolio
Underscore VC has 2 unicorns in its portfolio - Salsify and Project44. The most recent unicorn in their portfolio is Salsify. It became a unicorn in 2022, 5 years after Underscore VC first invested in it.Here is a list of unicorns in Underscore VC's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
61 | Product content management and syndication platform for businesses | 2012 | Boston | Series F | hhlrjvp | ||
75 | Provider of cloud-based cargo and supply chain visibility tracking solutions | 2014 | Chicago | Series G | sttkzws |
Acquired companies in Underscore VC's Portfolio
14 companies from Underscore VC's portfolio have been acquired. The most recent acquisition was Apploi in Feb 2026 by Viventum for $*****.Here are Underscore VC's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 04, 2026 | Feb 15, 2021 | Series B | 6276 | |
Dec 15, 2025 | Feb 23, 2021 | Seed | 4653 | |
Oct 14, 2025 | - | - | 9390 | |
Dec 19, 2024 | Aug 11, 2020 | Series C | 7198 | |
Dec 10, 2024 | Jan 10, 2022 | Seed | 4381 |
Team profile of Underscore VC
Underscore VC has a team of 41 members including 14 Partners and 1 Principal located in United States. Underscore VC's team sits on the board of 2 companies.Here is a list of top team members in Underscore VC:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Boston | |||
Partner | Boston | - | - | |
Partner | United States | - | ||
Partner | Weston | - | - | |
Partner | Boston | - | ||
Partner | Boston | - | ||
Partner | New York City | - | ||
Partner | San Francisco | - | - | |
Partner | Boston | - | - | |
Partner | Boston | - | - |
Co-investors of Underscore VC
Over the past 10 years, 392 investors have co-invested in Underscore VC's portfolio companies. This includes funds and angels.
- Invested before Underscore VC: Y Combinator, Venrock and 56 others have invested in rounds before Underscore VC. There are 3 companies where Y Combinator has invested before Underscore VC and 2 companies where Venrock has invested before Underscore VC.
- Top Co-investors of Underscore VC: 217 investors entered a company along with Underscore VC. These include investors like Madrona (2 companies).
- Invested after Underscore VC: A total of 117 investors have invested in Underscore VC's portfolio after their investments. Top Investors include TPG (2 companies), Scott Belsky (2 companies) and Las Olas (2 companies).
Recent News related to Underscore VC
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Gander Robotics Closes $1.1M Pre-Seed FundingFinSMEs•Apr 02, 2026•Impellent Ventures, Underscore VC, Gander Robotics
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Slang AI just raised $36M: Can its voice AI really handle chaos of private dining better than human host?Tech Funding News•Feb 24, 2026•Slang, Thayer Investment Partners, USVP, Active Capital and 5 others
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AI startup Terra Security secures $30M Series A for continuous penetration testingCTech•Sep 15, 2025•Terra Security, SYN Ventures, Dell Technologies Capital, SVCI and 3 others
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Quilt Health Secures $6M to Enhance Clinical Trial Access for Complex DiseasesHIT Consultant•Jun 17, 2025•Quilthealth, MaC Venture Capital, Underscore VC, Meridian Street Capital and 3 others
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CloudZero Raises $56 Million in Series C Funding to Revolutionize Cloud Cost Optimization in the AI EraCIO Influence•May 28, 2025•CloudZero, BlueCrest Capital Management, Innovius Capital, Matrix and 4 others
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Korl Raises $5M to Craft Customized Customer Communications for Sales TeamsSiliconAngle•May 23, 2025•Korl, VMware, Underscore VC, Stage 2 Capital and 1 other
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Copley Software Collects $4.8M Seed RoundMassinvestor•Mar 29, 2025•Copley, Underscore VC, ACP Partners, Klaviyo
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Cyber startup Orion Security raises $6M Seed round to combat insider data breachesCTech•Mar 19, 2025•Orion Security, Pico, FXP, Elastic and 3 others
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Orion Security launches from stealth with $6M to secure enterprise data from insider threats using generative AIPR Newswire•Mar 18, 2025•Orion Security, Perimeter 81, Underscore VC, FXP and 1 other
