/Investor DB

Bullpen Capital

Venture capital

San Francisco · Seed–Series A · 11 people tracked

Also known as Bullpen · BULLPEN MANAGEMENT, LLC · Bullpen Playoff 2021

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Investment thesis

Bullpen Capital specializes in early-stage financing for founders and companies that have achieved product-market fit but are overlooked by conventional investors for reasons unrelated to their potential. The firm positions itself as a backer of contrarian bets and unconventional founders, funding companies that other VCs dismissed as unlikely to succeed. Over the past decade it has invested in more than 100 companies across sectors such as gaming, sports betting, consumer, enterprise software, digital health, and energy technology, aiming to help build the next generation of great businesses.

Source: firm website, verified Sep 29, 2026.

Stage
Seed–Series A
Check
$2M – $4M
HQ
San Francisco, California, US
Leads rounds
Follows
Instruments
Equity
Founded
2010
Last 12 months
5 investments
AUM
$575M
VC funds
20
Tracked investments
158
Unicorns
7
IPOs
5
Acquisitions
26

Team · 11 people

from the firm's website & curated & public directories
Samantha Cooper· Director of Operations

Founder mafia

2 people who came through Bullpen Capital went on to found or lead other companies.

What they invest in

from 113 of 158 portfolio companies

SaaS ×43AI & Machine Learning ×36Consumer ×30Enterprise Software ×20Fintech ×17Data & Infrastructure ×16Marketplaces ×16E-commerce ×12

HQs:United States×84Canada×3Mexico×3Indonesia×2Sweden×1Zambia×1

Who they back

founder profiles across 79 portfolio companies
34%
solo founders
27 of 79 mapped founding teams
51%
repeat founders
of 92 founders with career history
~4 yrs
old at investment
median across 43 dated deals

Founding team size:solo founder×272 founders×303 founders×144+ founders×8

Where their founders studiedfrom 90 founders with education data

Stanford University ×4Stanford University Graduate School of Business ×4University of California, Berkeley, Haas School of Business ×4Yale University ×4Duke University ×3Harvard University ×3UCLA ×3University of California, Berkeley ×3

What their founders studiedfrom 85 founders with field-of-study data

Computer Science ×25Business & Management ×12Engineering ×12Economics ×9Finance & Accounting ×7Humanities ×6Social Sciences ×4

Where their founders worked beforefrom 92 founders with career history

Microsoft ×5Bridgewater Associates ×3Goldman Sachs ×3Capital Factory ×2Cornell Tech ×2Google ×2Lehman Brothers ×2Loring, Inc. ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×8Techstars ×4

1 founders hold a PhD · 13 hold an MBA (of 90 with degree data)

Investments · 158 tracked

founders shown can be your intro path

By year:2026 · 42025 · 52024 · 62023 · 32022 · 52021 · 162020 · 92019 · 82018 · 22017 · 52016 · 42015 · 684 dated

AppboyNASDAQ: BRZE

Braze develops a customer engagement platform that combines first-party data management, machine learning models, and multi-channel orchestration tools to help brands deliver personalized interactions across email, mobile messaging, push notifications, social channels, and in-app experiences.

New York, US

Jonathan Hyman(Executive Officer)Mark Ghermezian(Executive Officer, Director)Myles Kleeger(Executive Officer)Oliver Bell(Executive Officer)William Magnuson(Chief Executive Officer, President and Director)

BoardTom Peterson(Director)in

Co-investorsBattery VenturesAccelerator VenturesBlumberg CapitalICONIQ CapitalMeritech Capital PartnersMetamorphic Ventures+2 more

Braze, Inc.braze.comin𝕏NASDAQ: BRZE

Braze is a customer engagement platform that helps brands connect with customers across multiple channels.

AI & Machine LearningEnterprise SoftwareMarketing TechSaaS

Bill Magnuson(Founder)inJon Hyman(Founder)inMark Ghermezian(Founder)

Co-investors515 VenturesAccelerator VenturesBattery VenturesBlumberg CapitalCross Creek AdvisorsFour Acres Capital+16 more

Grove Collaborativegrove.coinNYSE: GROVDec 2017

Grove is an e-commerce platform that curates and sells household and personal care products vetted against health and environmental standards.

Circular EconomyConsumerDirect to ConsumerE-commerceSan Francisco, US

Stuart Landesberg(Executive Officer, Director)inChris Clark(Director)inJordan SavageinJeff Yurcisin(Chief Executive Officer, President and Director)inTom Siragusa(Chief Financial Officer)inKeith Davey(Chief Technology Officer)in

Co-investors500 GlobalATEL VenturesForefront VentureGlynn Capital ManagementGutbrain VenturesHemisphere Ventures LLC+12 more

Brightside Healthbrightside.comin𝕏Mar 2020✓ verified

Brightside provides remote mental health care combining personalized psychiatry and therapy through a technology-enabled platform.

Digital HealthHealthtechMental HealthSan Francisco, US

Jeremy Barth(Executive Officer, Director)inBrad Kittredge(Founder)in

BoardAike Ho(Director)in

Board seatEric Wiesen· per SEC Form D

Co-investorsACME CapitalEastward Capital PartnersObvious VenturesRosecliff VenturesSlow VenturesTime BioVentures+4 more

Plinkplink.aiin✓ verified

Plink provides technology solutions with consumer- and portal-facing products, though the investor relations page gives limited detail on its specific offerings.

AI & Machine LearningFintechRetail TechSaaSLos Angeles, US

Mitch Jacobs(CEO & Founder)in

Co-investorsCrosscut VenturesClocktower VenturesReciprocal VenturesSimplex VenturesTemerity Capital PartnersIrishAngels+1 more

Roofrroofr.comin𝕏Seed · May 2021 · $4M✓ verified

Roofr operates a digital platform for the roofing industry that uses satellite imagery to generate instant roofing estimates, connecting contractors and homeowners to streamline the sales and estimation process.

B2B MarketplacesConstruction TechConsumerEnterprise SoftwarePropTechSaaSSan Francisco, US

Richy Nelson(Founder)inKevin Redman(Founder)inRichard Nelson(Founder)

Co-investorsCrosslink CapitalEntrepreneur VenturesFuture Communities CapitalInterplay Ventures Early Stage Management LlcStifel Venture BankingVertical Venture Partners+10 more

Windfall Datawindfall.comin𝕏Jan 2019✓ verified

Windfall is a people intelligence and AI company that provides access to people data along with propensity modeling and machine learning to help go-to-market teams prioritize resources and engage the right prospects.

AI & Machine LearningData & InfrastructureSaaSSales Tech

Arup Banerjee(Founder)inDaniel Stevens(Founder)in

Co-investorsBonfire VenturesCALIFORNIA INNOVATIONGreat Oaks Venture CapitalValuestream VenturesFortress Investment GroupKohala Ventures

ALL3Dall3d.aiSep 2024

ALL3D offers a platform to create, customize, manage, distribute, and monetize 2D and 3D digital assets for use in ecommerce and advertising across devices.

AdTechE-commerceSaaSSan Francisco, US

Amra Tareen(Executive Officer, Director)inAshley Redmond(Founder)in

Board seatPaul Martino· per SEC Form D

Co-investorsHearstLabWXR Fund

AvantStayavantstay.comin𝕏Jun 2025

AvantStay operates a collection of fully furnished, design-forward vacation rental homes in sought-after U.S. destinations, offering short- and long-term stays with amenities like concierge service, Wi-Fi, and smart locks.

B2B MarketplacesFuture of WorkMarketplacesPropTechTravel & HospitalityCulver City, US

Sean Breuner(Founder)inReuben Doetsch(Executive Officer, Director, Promoter)inJesse Suarez(Executive Officer)inJodi Kessler(Director)in

BoardShawn Colo(Director)

Board seatEric Wiesen· per SEC Form D

Co-investors3L CapitalAbstract VenturesAlumni VenturesBlue Ivy VenturesConvivialité VenturesDaft Capital+10 more

BentoBoxgetbento.cominJun 2017 · $16.4M

BentoBox provides restaurant marketing and commerce solutions, now integrated into the Clover POS ecosystem.

Marketing TechMarketplacesSaaSNew York City, US

Krystle Mobayeni(Founder)inPierre Drescher(Executive Officer, Promoter)

Board seatEric Wiesen· per SEC Form D

Co-investorsFemale FoundersGolden SeedsLaunchCapitalRiverPark VenturesTechstarsThreshold Ventures+6 more

Edge Marketsedgemarkets.ioinSeed · Mar 2026 · $17M

EDGE Markets builds banking and payment infrastructure purpose-built for high-volume gaming and trading, including a high-throughput debit platform (EDGE Boost) with a $1,000,000 daily limit, a private closed-loop payment rail (EDGE Connect), and a banking platform for market makers and institutional investors (EDGE Pro).

FintechGamingSaaSWilmington, US

Seni Thomas(CEO + Founder)inJosh Jacobs(President & Executive Director)inDavid Woodley(Chief Revenue Officer)inAdam Neff(Chief Product Officer)inLizzy Harrison(EVP, Head of Strategy)inEdward Campiani(Chief Compliance Officer)

Board seatPaul Martino· per SEC Form D

Co-investorsCoinFund

About.meabout.me𝕏

about.me provides a personal branding platform where individuals can create a customizable profile page to showcase their work, contact information, and media.

AI & Machine LearningCreator EconomySaaS

Ryan Freitas(Founder)Tim Young(Founder)Tony Conrad(Founder)

Co-investorsGV (Google Ventures)Lowercase CapitalUncork Capital

AI competitive intelligencedaash.coinJan 2025

DAASH combines multiple research panels, social and advertising signals, and product attribute data to model sales performance, market share, and emerging trends for consumer brands.

AI & Machine LearningData & InfrastructureMarketing TechRetail Tech

Melissa Munnerlyn(CMO)inPhilip Smolin(CEO)inJustin Stewart(CTO)in

Co-investorsEntrepreneur VenturesGFT VenturesHypothesisNew Stack VenturesOpenSky VenturesRed Bike Capital+2 more

Airmapairmap.comJun 2015Acquired

AirMap builds airspace information and traffic management software for low-altitude drone operations; acquired by DroneUp in 2021.

Santa Monica, US

Gregory McNeal(Founder)Ben Marcus(Founder)in

BoardBilal Zuberi(Director)in

Co-investorsComet LabsLux CapitalOne Planet GroupR/GA VenturesSony Ventures CorporationWonder Ventures+6 more

ALLCITYallcitynetwork.com𝕏Series B · Aug 2024 · $12M

ALLCITY Network is a local sports media company that builds city-based teams of creators, analysts, and fans to produce daily, team-specific content across podcasts, YouTube, social, and newsletters.

AdTechMedia & EntertainmentSports TechDenver, US

Co-investorsAurumBitkraft Esports VenturesCauseway PartnersMastryMatchstick VenturesMosaic General Partnership, LLC+1 more

ArroFiarrofinance.comin

Arro is a fintech platform that offers a credit-building credit card with cash back rewards and an AI-powered money coach to help users build credit, earn financial rewards, and improve their financial habits.

Fintech

Luke Pelullo(Founder)Ryan Duitch(Founder)

Co-investorsBAM VenturesBling CapitalCrosslink CapitalD3VCHawke VenturesWestern Technology Investment+6 more

Atriumatrium.co𝕏Defunct

Atrium provides legal services to startups through a technology-enabled platform that replaces traditional hourly billing with performance-based compensation and software tools designed to increase operational transparency and efficiency.

Enterprise SoftwareLegalTechSan Francisco, US

Justin Kan(Founder)inAnton Nadtochiy(Founder)Daniel(Founder)Gerry(Founder)Kevin(Founder)Vera Butko(Founder)

Co-investorsY Combinator500 GlobalAgrolimen VenturesAirTree VenturesAmino CapitalAndreessen Horowitz+33 more

Atriumhqatriumhq.comacquired by Fullcast

Fullcast Performance is a business intelligence platform that delivers coaching intelligence, performance analytics, and pipeline insights for revenue teams.

AI & Machine LearningEnterprise SoftwareSaaSSales Tech

Co-investorsBonfire Ventures

Autolabautolab.mxAug 2023

Autolab manages maintenance and repair services for vehicle fleets, coordinating a network of workshops and providing a technology platform for scheduling, real-time job monitoring, photographic reports, warranty handling, and standardized pricing.

Logistics & Supply ChainMobility & TransportationSaaS

Co-investorsHAVEN VENTURESPolymath VenturesUncorrelated VenturesVertical Venture PartnersProeza Ventures

Autolabautolab.ai

Autolab is an autoresearch platform for AI model training that uses autonomous AI agents to plan, code, run, and score machine learning experiments in parallel across a customer's own compute, iterating until a defined goal and eval metric are met.

AI & Machine LearningDeep TechDeveloper Tools

Co-investorsLink VenturesThe E14 FundHAVEN VENTURES

Barn2Doorbarn2door.comSeries A · Aug 2020 · $6M

Barn2Door provides software and services for farmers to sell their products online and in person, automating orders, payments, inventory, email campaigns, and delivery logistics.

AgTechE-commerceFoodTechSaaSSeattle, US

Janelle Maiocco(Founder)inJAMES MAIOCCO(Executive Officer, Director)

BoardDUNCAN DAVIDSON(Director)inKATHY CHILL(Director)

Co-investorsConductor CapitalFf Venture CapitalFourth RealmHearstLabNavigate VenturesSocial Starts+5 more

BeBop Sensors, Inc.bebopsensors.comSeries A · Dec 2016 · $19M

An independent comparison site reviewing and ranking online casinos for Canadian real-money players, evaluating operators on licensing, security, bonuses, payment methods, game selection, and payout speed.

ConsumerMedia & EntertainmentBerkeley, US

Keith McMillen(Executive Officer, Director)Michelle Cook(Executive Officer)

BoardStephen Mendel(Former Director - resigned 3/6/2016)Stan Friedman(Director)Robin Nijor(Director)Steven Berger(Director)

Co-investorsNSV Wolf Capital

Berylliumberyllium.aiinFeb 2014Acquired

Beryllium was a drug discovery contract research organization acquired by UCB Pharma in 2017.

BiotechBedford, US

Johan Pontin(Manager)Neil Weir(Manager)Brian Hubbard(Manager)Jeffrey Newton(Manager)Brent Bannerman(Manager)

Betablebetable.com

Betable provides an integrated iGaming platform designed as a single system for casino and sportsbook operators, eliminating the need to stitch together legacy vendors.

Enterprise SoftwareGamingSaaS

Co-investorsEdmonton UnlimitedFounders FundGreylock PartnersMorado VenturesTekton VenturesTrue Ventures+1 more

Beyondbeyondpricing.comin𝕏

Beyond provides revenue management and pricing tools for short-term rental property managers and owners globally.

AI & Machine LearningPropTechSaaSSan Francisco, US

David Kelso(Founder)inJulie Brinkman(Chief Executive Officer)inChris Brown(Founder)Ian McHenry(Founder)in

Co-investorsBessemer Venture PartnersResolute VenturesInterlagosPlay VenturesSocial LeverageY Combinator

Blueboardblueboard.comSep 2020 · $9.3MDefunct

Blueboard was an experiential employee rewards and recognition platform that ceased operations in March 2024.

San Francisco, US

Co-investorsKyber Knight CapitalNoveus CapitalOrigin VenturesRoyal Street Ventures Management Company, LlcGaingelsGreycroft

Campnouns.camp

A software client for managing governance operations in decentralized autonomous organizations (DAOs) built on the Nouns protocol.

ConsumerCrypto & Web3Stockholm, SE

Christian Södergren(Founder)inPedro Pregueiro(Founder)inOlle Werme(Founder)inAshok Sukumaran(Founder)Sanjay Bhangar(Founder)Shaina Anand(Founder)

Co-investorsY CombinatorBLH Venture Partners, LLCBlockchain CapitalFour CitiesHarvard Management CompanyJ12 Ventures+2 more

CAMPcamp.comin𝕏Jun 2023 · $18M

CAMP operates family entertainment venues combining immersive themed experiences, hands-on activities, and toy retail in physical locations.

Consumer

Nikki Kaufman(Founder)in

Co-investorsBLH Venture Partners, LLCDisney AcceleratorLerer HippeauMaywic Select InvestmentsReshapeRRE Ventures+5 more

Carbon Healthcarbonhealth.comin𝕏

Carbon Health operates a chain of clinics offering urgent care, primary care, and chronic condition management, combining technology with in-person care to provide broader access to health services.

Digital HealthHealthtechMedia & Entertainment

Eren Bali(Founder)inGreg Burrell(Founder)inTom Berry(Founder)Caesar Djavaherian(Founder)Greg Burell(Founder)

Co-investors500 Emerging Europe500 Global515 VenturesAkkadian VenturesAnnex InvestmentsBuilders VC+30 more

Chartiochartio.com𝕏acquired by Atlassian

Chartio is a data visualization and analytics platform that enables users across organizations to create and explore data on dashboards.

Data & InfrastructureEnterprise SoftwareSaaSSan Francisco, US

Dave Fowler(Founder)in

Co-investorsGreat Oaks Venture CapitalKima VenturesY CombinatorAgrolimen VenturesAvalon Ventures Management, LlcCrosslink Capital

Cipherociphero.aiin𝕏Dec 2025

Ciphero provides a deterministic security layer that lets security teams observe, audit, and verify AI interactions across models, agents, and machines.

AI & Machine LearningCybersecurityDeveloper Tools

Rob Gross(Founder)inSen Tian(Founder)inSaoud Khalifah(Founder)in

Co-investorsEverywhere VenturesPropeller Inc.Chingona VenturesHustle FundLotus Venture PartnersSovereigns Capital Venture

Citus Datacitusdata.comin𝕏Acquired

Citus is a Postgres extension that enables horizontal scaling of databases by distributing data and queries across multiple nodes.

Data & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US

Sumedh Pathak(Founder)Ozgun Erdogan(Founder)inUmur Cubukcu(Founder)in

Co-investorsBling CapitalDCVC (Data Collective)HeavybitRainfall VenturesS2S VenturesStreamlined Ventures+6 more

CoinFundcoinfund.ioin𝕏

CoinFund is a crypto-focused investment firm that backs and partners with founders building companies across finance, infrastructure, and AI.

Crypto & Web3Fintech

Jake Brukhman(Managing Partner, Co-Founder and CIO)inAlex Felix(Managing Partner, Head of Venture Investing)in

Co-investorsNarwhal VenturesCoinbase VenturesHaun VenturesHOF CapitalIndicator VenturesJump Crypto+3 more

Confident Cannabisconfidentcannabis.cominSeries A · Apr 2019 · $12M

Confident LIMS is a cloud-based laboratory information management system designed for analytical testing labs across industries including cannabis, food, agriculture, nutraceuticals, environmental, cosmetics, and industrial chemicals.

Enterprise SoftwareHealthtechSaaS

Steve Albarran(Founder)inTony Lewis(Founder)

Co-investorsBase Venture Management, Inc.FJ LabsInnovating CapitalPoseidon Asset ManagementY Combinator

Confident LIMSconfidentlims.cominSeries A

Confident LIMS is a cloud-based laboratory information management system serving analytical testing labs across cannabis, food, agriculture, nutraceuticals, environmental, cosmetics, and specialty testing industries.

Cloud ComputingEnterprise SoftwareSaaSSan Francisco, US

Steve Albarran(Founder)inMiller Aaron(Founder)in

Co-investorsInnovating CapitalY CombinatorAltaIR CapitalASF Ventures Ltd.Base Venture Management, Inc.FJ Labs+7 more

Cover Houndcoverhound.comSeries A · Feb 2013 · $5MAcquired

Insurance comparison (AngelPad #2).

Keith Moore(Founder)in

Co-investorsAngelPadBlumberg CapitalCore Venture CapitalRoute 66 VenturesRRE VenturesAmerican Family Ventures+2 more

creedusecreed.comSeed · Jan 2026

Creed Labs builds an AI-powered consumer app that provides biblical guidance, customizable daily prayers, and scripture verses.

AI & Machine LearningConsumerBrooklyn, US

Co-investorsAntiUlu Ventures

Crux OCMcruxocm.comin𝕏Aug 2021 · $6M

CruxOCM develops AI-powered automation software for industrial control room operations in energy infrastructure, enabling autonomous monitoring and control to improve throughput and reduce operational risk.

AI & Machine LearningCleantechClimate TechEnergyEnterprise SoftwareIoTCalgary, CA

Vicki Knott, P.Eng(Founder)inVictoria Knott(Executive Officer, Director, Promoter)

BoardEric Wiesen(Director)inRoger Shirt(Director)Gil Dibner(Director)in

Co-investorsAngel InvestAngular VenturesGolden VenturesM12 (Microsoft's Venture Fund)Raven CapitalRoot Ventures Manager, Llc+3 more

Daash IntelligenceinSeed · Oct 2024 · $6M

Daash Intelligence runs an AI-based predictive commerce intelligence platform for beauty and personal care retail brands.

San Francisco, US

Philip Smolin(Executive Officer, Director)inKim Perell(Executive Officer, Director)

BoardRoss Kimbel(Director)in

Co-investorsGFT VenturesNew Stack VenturesOpenSky VenturesRed Bike CapitalSilicon Road VenturesWillow Growth Partners

Donate Nowclassy.org𝕏Sep 2016acquired by GoFundMe

Classy, acquired by GoFundMe, provides fundraising software for nonprofits that combines donation management tools with the GoFundMe platform to help organizations reach donors and increase charitable giving.

FintechSaaSSan Diego, US

Patrick Walsh(Director, Promoter)Scot Chisholm(Founder)Joe Callahan(Founder)inPat Walsh(Founder)

BoardHoward Deshong(Director)Adam Garone(Director)

Co-investorsHinge CapitalNorwest Venture PartnersRethink ImpactThirty Five Ventures (35V)JMI EquityMithril Capital Management+1 more

Dopplethedopple.comMar 2021

Dopple matches family spending on essentials such as childcare, diapers, and formula using grant funding.

Impact & Social GoodSaaSLos Altos, US

Chao Wang(Executive Officer, Director)Janel Molton Hertz(Executive Officer, Director)

BoardAnn Lai(Director)in

Co-investorsCaucasus VenturesPrecursor Ventures

Drafteadraftea.mx𝕏Sep 2022

Draftea operates a mobile sports betting app offering live in-play betting with real-time odds across sports including soccer, American football, basketball, baseball, and F1.

ConsumerGamingSports Tech

Alán Jaime Misrahi(Founder)inJoe Cohen(Founder)inAlan Jaime(Founder)Andreas Assad(Founder)

Co-investorsAbstract VenturesCourtside VenturesFJ LabsKaszek VenturesMantis CapitalQP Ventures+5 more

Drive MotorsinAug 2017

San Francisco, US

Aaron Krane(Executive Officer, Director)

BoardDuncan Davidson(Director)in

Co-investorsEmagen Entertainment GroupKhosla VenturesPerkins CoieY Combinator

Edgeboostedgeboost.betJan 2024

EDGE Boost is a financial platform and Visa card that lets gamblers fund their play with a dedicated, FDIC-insured account separate from their bank, offering cash back on gaming transactions, fiat and crypto deposits, and spending controls.

FintechGamingSports Tech

Co-investorsMantis CapitalCoinFundImpulsum VenturesIndicator VenturesStepstone GroupSuRo Capital

Enteraentera.aiin

Entera operates a single platform for the residential real estate investment lifecycle, combining proprietary data, AI-powered underwriting and pricing, workflow tools, and a service-partner network to help investors buy, sell, and operate single-family homes at scale.

AI & Machine LearningPropTechSaaSHouston, US

Martin Kay(Founder)inGregory Morrison(Founder)inRobert Salmons(Founder)in

Co-investorsValuestream Ventures

EQL Gameseqlgames.cominAug 2025

EQL Games is a game studio, third-party content aggregator, and licensor focused on the lottery industry, developing new game products for lotteries and players.

GamingLouisville, US

Brad Cummings(Founder)inMichelle Boice(Chief Operating Officer)inAustin Mayberry(Chief Technology Officer)Greg Buonocore(Director)Seth Young(Director)Bradford Cummings(Executive Officer, Director)

Co-investorsKeyhorse Capital

Fakespotfakespot.comin𝕏Dec 2020 · $4MAcquired

Fakespot was a browser extension and mobile app that used AI to analyze the authenticity of online product reviews for consumers.

AI & Machine LearningConsumerCybersecurityE-commerceNew York, US

Saoud Khalifah(Executive Officer, Director, Promoter)inSze Ming Ooi(Mr. Ooi is the Chief Strategy Officer of the Issuer.)Robert Gross(Executive Officer)Sashi Reddi(Director)inJeremy Patuto(Director)

Co-investors500 GlobalBeresford VenturesGraph VenturesIcebook Investments Corp.Faith Capital

Famafama.ioin𝕏Series A · Jul 2015 · $5M

Fama uses AI to conduct online screening of individuals for compliance purposes, analyzing public web presence.

AI & Machine LearningHR TechSaaSNational Harbor, US

Alec Andronikov(Executive Officer, Director, Promoter)Ben Mones(CEO)inSaiful Khandaker(Executive Officer, Director, Promoter)

BoardMark Mullen(Director)in

Co-investorsAmplify.LABonfire VenturesConductor CapitalCrosscut VenturesK5 VenturesMana Ventures+4 more

Fan Duelfanduel.com𝕏Jul 2015acquired by Betfair Group

FanDuel offers online sports betting and gaming entertainment products for sports fans across the U.S. and Canada, partnering with leagues, teams, and talent.

ConsumerGamingSports Tech

Nigel Eccles(Founder)inAmy HoweinChris Stafford(Founder)Lesley Eccles(Founder)Rob Jones(Founder)Tom Griffiths(Founder)

Co-investorsAmplify.LAAnsa CapitalAurumBettor CapitalCapitalGComcast Ventures+17 more

Fanimalfanimal.com𝕏Seed · May 2022 · $4MDefunct

Fanimal is an online ticket marketplace where users can buy and sell tickets to sports events, concerts, and music festivals across leagues including the NFL, NBA, MLB, NHL, MLS, and NCAA.

E-commerceMarketplacesMedia & Entertainment

Jonny Halprin(Founder)in

Co-investorsBurst CapitalPear VCWestern Technology Investment

flexEngageflexengage.comin𝕏Acquired

flexEngage provides retail software that personalizes post-purchase communications like receipts to drive repeat customer purchases.

Enterprise SoftwareOrlando, US

Tomas Diaz(Founder)inJay Patel(Founder)in

Co-investorsFlorida FundersFlorida Technology Seed Capital FundPJCStruck CapitalY CombinatorAltaIR Capital+4 more

Flickflick.artin𝕏

Flick provides software for creating feature-length films using AI, enabling users to maintain narrative coherence, character consistency, and cinematic control throughout the production process rather than generating brief disconnected clips.

AI & Machine LearningConsumerCreator EconomyMedia & EntertainmentSan Francisco, US

Ray Wang(Founder)inZoey Zhang(Founder)inDipo Gbadebo(Founder)

Co-investorsGV (Google Ventures)Olive Tree CapitalPioneerTrue VenturesY CombinatorCapitalize VC+2 more

Flipflipcx.comin𝕏

Flip builds Voice AI that automates customer service phone calls for retail eCommerce, healthcare, and transportation brands.

AI & Machine LearningEnterprise SoftwareSaaS

Sam Krut(Founder)inBrian Schiffin

Co-investorsData Point CapitalNext Coast VenturesScOp Venture CapitalHV CapitalNotion Capital

Gameflipgameflip.com𝕏

Gameflip is an online marketplace where individuals and professional sellers buy and sell gaming items, including in-game items, game codes, and Steam games, with delivery options such as auto-delivery and bot delivery.

E-commerceGamingMarketplaces

Terry Ngo(Founder)in

Co-investorsForefront VentureGoAhead VenturesLightbankSocial StartsString VenturesAccel+2 more

GoodTimegoodtime.ioin𝕏

GoodTime provides AI-powered tools to orchestrate the hiring process, automating interview scheduling and candidate communication.

AI & Machine LearningEnterprise SoftwareFuture of WorkHR TechSaaSSales Tech

Co-investorsAtinum Investment Co. Ltd.Big Basin CapitalGSV VenturesGingerbread Capital

Grassroots Unwiredgrassrootsunwired.comin𝕏Feb 2012

Grassroots Unwired provides mobile-first canvassing and field-organizing technology for political campaigns and nonprofit organizations, supporting voter outreach, fundraising, and constituent data capture.

FintechGovTechImpact & Social GoodSaaSYardley, US

RUSS OSTER(CEO)in

Co-investorsBen Franklin Technology PartnersDelaware Crossing Investor GroupRobin Hood Ventures

Grinongrin.comAcquired

Grin operates a micromobility and payments service across seven Latin American countries, including Brazil, Mexico, and Colombia.

ConsumerMobility & TransportationMexico City, MX

Sergio Romo(Founder)inJonathan Lewy(Founder)inBrandon Brown(Founder)Brian Mechem(Founder)Lars-Martin Berglund(Founder)Ryan Brown(Founder)

Co-investors500 GlobalPi CampusSoma CapitalY CombinatorBase10 PartnersBond Capital Management+25 more

Gringrin.coin𝕏

GRIN is a creator marketing platform for brands, offering tools to discover influencers, manage relationships, handle payments and shipping, run affiliate programs, and track campaign performance.

AI & Machine LearningMarketing TechSaaS

Brandon Brown(Founder)inRyan Brown(Founder)inRyan Debenham(CEO)in

Co-investorsBase Venture Management, Inc.Bond Capital ManagementCharge VCEscalate Capital PartnersEudemian VenturesForefront Venture+12 more

Gringrin.noinMay 2021

Revore builds return and collection systems for reusable packaging and other returnable items, deployed at indoor sites such as offices, airports, universities, hospitals, pharmacies, retail chains, quick-service restaurants, and event arenas.

Circular EconomyCleantechHardware

Co-investorsHeadlineKickstart InnovationBlackstone Life SciencesBond Capital Managementlone pine capital

Happshapps.coSeries A · Jun 2021 · $5M

Happs is a community-driven live video platform that lets independent creators broadcast simultaneously across multiple social channels.

Co-investorsCorazon CapitalCrosslink CapitalFirst Round CapitalGoodwater Capital

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Deja MiSpin Joy HoldingsArroAssistlyBeryllium (Sixer)Beyond PricingCleanifyDropGenieFilament LabsFlickappFlip (RedRoute)Flip CXHearo.Live - Multiplayer TVHype (Pico)Jump RampManyCoPiñataReach (Happs)RedRouteRelishThe Many Co.Thrive FantasyWag

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Exits · 31

5 IPOs · 26 acquisitions · showing 8

AppboyNASDAQ: BRZEBraze, Inc.NASDAQ: BRZEGrove CollaborativeNYSE: GROVAtriumhqacq. by FullcastChartioacq. by AtlassianDonate Nowacq. by GoFundMeFan Duelacq. by Betfair GroupLawn Loveacq. by LawnStarter

Portfolio news

latest coverage across their companies
Paper Raises $34M in Series A Funding

Paper · finsmes.com · Jul 23, 2026

Flick TV: The Future Home of Original AI Films

Flick · ycombinator.com · Jul 2, 2026

Trysignalbase

Verbling · trysignalbase.com · Jun 17, 2026

Ciphero Raises $2.5M Pre-Seed Round

Ciphero · thesaasnews.com · Dec 22, 2025

IPO stake values · per SEC filings · 2

Value of this firm's stake in each portfolio company at its IPO price, from the prospectus principal-stockholder table.

CompanyOwnedIPO priceAt IPOStake value
Braze, Inc.—$65.00Nov 2021$44M
Appboy—$65.00Nov 2021$44M

Source: SEC S-1 / 424B prospectus filings. Stake value = shares beneficially owned × the initial public offering price, as disclosed — a market value at IPO, not a return multiple (the firm's original cost is not disclosed).

Frequently asked questions

How many investments has Bullpen Capital made?
Bullpen Capital has 158 tracked investments, 31 of which have exited, including 9 dated in the last 24 months.
What stage does Bullpen Capital invest at?
Bullpen Capital invests at the Seed, Series A stages.
What is Bullpen Capital's typical check size?
Bullpen Capital typically writes checks of $2M – $4M.
What sectors does Bullpen Capital focus on?
Bullpen Capital focuses on Consumer, Digital Health, Energy, Enterprise Software, Fintech, Gaming, IoT, SaaS, Sector Agnostic, Sports Tech.
Where is Bullpen Capital located?
Bullpen Capital is headquartered in San Francisco, US.
Does Bullpen Capital lead rounds?
Bullpen Capital typically participates in rounds rather than leading them.
Who does Bullpen Capital co-invest with?
Bullpen Capital most often shares deals with 500 Global, Y Combinator, Alumni Ventures, among 369 tracked co-investors.

From the blog

visit blog ↗

Bullpen Capital has been writing about portfolio companies spanning AI agents, community-focused real estate, and regulated gaming. Their recent posts highlight investments in novel product categories—machine-to-machine networks, neighborhood work clubs, and digital lottery infrastructure—with emphasis on founders who pursue unconventional market approaches. AI summary

Media · Podcasts & interviews

featuring the team

SpaceX comes down to data centers in space, says Bullpen Capital's Duncan Davidson

Duncan Davidson · cnbc.com

SpaceX comes down to data centers in space, says Bullpen Capital's Duncan Davidson

Duncan Davidson · cnbc.com

Investment Niches ft. Bullpen Capital Founder Paul Martino

Grace Gong · Paul Martino

OpenAI's robust funding will help it remain private, says Bullpen Capital's Duncan Davidson

CNBC Television · Duncan Davidson

AI is now bringing activity back to Silicon Valley, says Bullpen Capital's Duncan Davidson

CNBC Television · Duncan Davidson

Bullpen Capital’s Duncan Davidson discusses the dangers of 'A.I. washing' and buzzword investing

CNBC Television · Duncan Davidson

Co-investors · 152

500 Global

500 Global (formerly 500 Startups) is a venture capital firm whose flagship Silicon Valley strategy backs promising technology companies from pre-seed onward across a range of sectors and geographies.

$150K
Techstars

Techstars is a global startup accelerator and early-stage investor that funds and mentors ambitious founders, providing $220K in capital, a three-month program, and access to a worldwide network of mentors, investors, and corporate partners.

$220K
FJ Labs

FJ Labs is an early-stage investment firm specializing in marketplaces and network-effect businesses, taking an angel-style co-investment approach alongside institutional venture funds worldwide.

$100K – $3M
First Round Capital

First Round Capital is an early-stage venture firm partnering with founders at the very first stages of company creation, backing companies from angel through seed with hands-on support across GTM, recruiting, and operations.

$100K – $20M
Andreessen Horowitz

Andreessen Horowitz (a16z) is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz, known for pioneering the platform model with a large team of operators supporting founders across stages.

$500K – $50M
Slow Ventures

Slow Ventures is a generalist early-stage venture capital firm founded in 2011, with offices in San Francisco, Boston, and New York, investing in the earliest rounds of companies across many sectors.

$50K – $1M
Accel

Accel is a venture capital firm that partners with exceptional teams, positioning itself as a first partner to founders globally.

$500K – $100M
True Ventures

True Ventures is an early-stage venture capital firm that has backed founders since 2005, partnering at the earliest moments of company building.

$500K – $3M
Great Oaks Venture Capital

Great Oaks Venture Capital is a New York-based seed and early-stage investor that backs founders building enduring businesses across the United States.

$50K – $500K
NextView Ventures

NextView Ventures is a seed-stage venture capital firm that works closely with founders, providing hands-on support to help build companies from inception to scale.

$250K – $4M
Greycroft

Greycroft is a venture capital firm that partners with founders across multiple industries and geographies, investing in software, sustainability, and consumer brands.

Both backed · 4
BlueboardManufacturedSISUSiSu Aesthetics Clinic
$100K – $5M
Bonfire Ventures

Bonfire Ventures is a seed-stage venture capital firm that backs founders reinventing how business operates, leading seed rounds in AI-native B2B software.

Both backed · 4
$2M – $6M
▶140 more co-investors

Lerer HippeauAltaIR CapitalSalesforce VenturesMaC Venture CapitalMana VenturesLaunchCapitalValuestream VenturesGV (Google Ventures)Founders FundBessemer Venture PartnersKhosla VenturesSV AngelNorwest Venture PartnersGradient VenturesRRE VenturesLux CapitalTrinity VenturesRidge VenturesSocial LeverageSocial StartsTSVCCrosscut VenturesChicago VenturesMontage VenturesScOp Venture CapitalVertical Venture PartnersIVP (Institutional Venture Partners)Tiger Global ManagementSapphire VenturesStreamlined VenturesSusa VenturesOffline VenturesBling CapitalKapor CapitalResolute VenturesSierra VenturesQED InvestorsQueensBridge Venture PartnersLightbankArray Ventures Management LlcAngelPadMS&AD VenturesCoinFundGotham Gal VenturesReach CapitalAccelerator VenturesGolden VenturesNext Coast VenturesAlpine MeridianData Point CapitalLaconiaFramework Venture PartnersZeno VenturesRET VenturesOmega Venture PartnersCraft VenturesRedpoint VenturesLong Journey VenturesFounder CollectiveUncork CapitalBenchmarkBain Capital VenturesFoundation CapitalDST GlobalMayfield FundOak HC/FTHeadlineScale Venture PartnersM13Intel CapitalBlockchain CapitalRenegade PartnersTCVWork-BenchTusk Venture PartnersBlueRun VenturesVertex Ventures Sea Management Pte. Ltd.Angular VenturesForum VenturesG20 VenturesMiramar Venture PartnersDeciensPiton Capital LLPSpace CapitalAlpine VenturesMithril Capital ManagementPiva CapitalKrillion VenturesImaginary Venture CapitalIronspring VentureMHS CapitalAperiam VenturesConductive VenturesFormic VenturesHarmonix Music SystemsDifferential VenturesInspiration VenturesCabra VCGrit Capital PartnersLas Olas Venture CapitalEnergy FoundryPoseidon Asset ManagementUberCoatue ManagementEniac VenturesUpHonest CapitalAccel-KKREmergence Capital PartnersBowery CapitalPractical Venture Capital2048 VenturesPareto HoldingsWGI GroupBetaworks Ventures Management, Llc7percent VenturesNextGen Venture Partnersboldstart venturesPolychain CapitalUpside PartnershipAnorak VenturesScience VenturesThe Finger GroupCP VenturesRelay VenturesThomvest Ventures20VC14WEuclid Venture PartnersPrimitive VenturesUprisingTrust VenturesBain CapitalVinyl CapitalTunitas VenturesRock VenturesUpheaval InvestmentsGotham VenturesTrimble Venturesmark vc01Ventures

Firms observed investing alongside Bullpen Capital, from public investor directories. Shared companies are the overlap with Bullpen Capital's recorded portfolio.

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