🦊/Investors

Bullpen Capital

Venture capital

San Francisco · Seed–Series A · 16 people tracked

Also known as BULLPEN MANAGEMENT, LLC

Find your way into Bullpen Capital

1,809 people in our graph share verified history with the Bullpen Capital team — schools, employers, funds. One of them is your warm intro.

Sundeep Peechuunlockedknows Bobby Lawler · together at Juniper Square (overlapped)
×3knows the team · via Morgan Stanley
×2knows the team · via TCV
×2knows the team · via University of California, Berkeley
×2knows the team · via University of Michigan Law School
knows the team · via Lehigh University
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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 15, 2026.

Stage
Seed–Series A
Check
$2M – $4M
HQ
San Francisco, California, US
Leads rounds
Follows
Instruments
Equity
Founded
2010
Last 12 months
4 investments
AUM
$575M
VC funds
20
Tracked investments
145
Unicorns
7
IPOs
5
Acquisitions
23

Team · 16 people

from the firm's website & curated & public directories

Founder mafia

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

What they invest in

from 99 of 145 portfolio companies

SaaS ×41AI & Machine Learning ×31Consumer ×24Enterprise Software ×18Data & Infrastructure ×16Marketplaces ×15Fintech ×14E-commerce ×10

HQs:United States×75Canada×3Indonesia×1Mexico×1

Who they back

founder profiles across 72 portfolio companies
51%
solo founders
37 of 72 mapped founding teams
59%
repeat founders
of 90 founders with career history
~4 yrs
old at investment
median across 35 dated deals

Founding team size:solo founder×372 founders×243 founders×84+ founders×3

Where their founders studiedfrom 87 founders with education data

University of California, Berkeley, Haas School of Business ×4Duke University ×3Harvard University ×3Stanford University Graduate School of Business ×3UCLA ×3University of California, Berkeley ×3Yale University ×3California State University, Chico ×2

What their founders studiedfrom 80 founders with field-of-study data

Computer Science ×24Business & Management ×12Engineering ×11Economics ×9Finance & Accounting ×6Humanities ×5Social Sciences ×4

Where their founders worked beforefrom 90 founders with career history

Bridgewater Associates ×3Goldman Sachs ×3100.co ×2Capital Factory ×2Cornell Tech ×2Klarna ×2Loring, Inc. ×2Monument ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×8Techstars ×4

1 founders hold a PhD · 13 hold an MBA (of 86 with degree data)

Investments · 145 tracked

founders shown can be your intro path

By year:2026 · 42025 · 32024 · 52023 · 22022 · 42021 · 152020 · 82019 · 52018 · 12017 · 22016 · 32015 · 462 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-investorsAccelerator VenturesBattery 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(CEO)inJon Hyman(CTO)inMark Ghermezian

Co-investorsAccelerator VenturesBattery VenturesBlumberg CapitalCross Creek AdvisorsFour Acres CapitalICONIQ+12 more

Grove Collaborativegrove.coinNYSE: GROV

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 GlobalForefront VentureGlynn Capital ManagementGutbrain VenturesHemisphere Ventures LLCNorwest Venture Partners+7 more

Brightsidebrightside.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

Plink Santa Monica, CAplink.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-investorsCrossCutClocktower VenturesReciprocal VenturesTemerity Capital PartnersIrishAngelsTTV Capital

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/CEO)inKevin Redman(Founder/CTO)in

Co-investorsCrosslink CapitalEntrepreneur VenturesVertical Venture PartnersY CombinatorACE & CompanyBlumberg Capital+2 more

Windfallwindfall.comin𝕏✓ 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-investorsCALIFORNIA INNOVATIONValuestream 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(Executive Officer, Director, Promoter)inReuben Doetsch(Executive Officer, Director, Promoter)inJesse Suarez(Executive Officer)inJodi Kessler(Director)

BoardShawn Colo(Director)

Board seatEric Wiesen· per SEC Form D

Co-investorsAbstract VenturesBlue Ivy VenturesConvivialité VenturesDaft CapitalEvolution VC PartnersF-Prime Capital+7 more

BentoBoxgetbento.cominJun 2017

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

Marketing TechMarketplacesSaaSNew York City, US

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

Board seatEric Wiesen· per SEC Form D

Co-investorsFemale FoundersLaunchCapitalRiverPark VenturesTechstarsThreshold VenturesTIA 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

Aboutabout.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

Co-investorsLowercase Capital

AI competitive intelligencedaash.coin

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 VenturesRed Bike CapitalSilicon Road Ventures

Airmapairmap.comAcquired

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

Santa Monica, US

Gregory McNeal(Executive Officer, Director)Ben Marcus(Founder)in

BoardBilal Zuberi(Director)in

Co-investorsComet LabsLux CapitalOne Planet GroupR/GA VenturesSony Ventures CorporationWonder Ventures+2 more

ALLCITYallcitynetwork.com𝕏

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 Tech

Co-investorsAurumCauseway PartnersMastryMosaic General Partnership, LLC

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

Co-investorsBAM VenturesBling CapitalCrosslink CapitalD3VCHawke VenturesWestern Technology Investment+4 more

Atriumhqatriumhq.cominacquired 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.mx

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 VenturesVertical Venture Partners

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 VenturesHAVEN 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+4 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 UnlimitedCrunchFundFounders FundGreylock PartnersMorado VenturesTekton 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(Co-founder & CTO)in

Co-investorsBessemer Venture PartnersResolute VenturesInterlagosSocial 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-investorsOrigin VenturesRoyal Street Ventures Management Company, LlcGaingelsGreycroft

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 InvestmentsReshapeZigg Capital+4 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 BurrellinTom Berry

Co-investors500 Emerging Europe500 GlobalAkkadian VenturesAnnex InvestmentsBuilders VCCatalio Capital Management, LP+17 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/CEO)in

Co-investorsKima VenturesY CombinatorAvalon Ventures Management, LlcCrosslink Capital

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/Engineer)

Co-investorsBling CapitalDCVC (Data Collective)HeavybitRainfall VenturesStreamlined VenturesY Combinator+1 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 VenturesCoinFundHaun VenturesHOF CapitalIndicator Ventures+4 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

Co-investorsBase Venture Management, Inc.Innovating Capital

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

Insurance comparison (AngelPad #2).

Keith Moore(Founder)in

Co-investorsAngelPadBlumberg CapitalCore Venture CapitalRoute 66 VenturesRRE Ventures

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.orgin𝕏acquired 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(Executive Officer, Director, Promoter)Joe Callahan(Founder)in

BoardHoward Deshong(Director)Adam Garone(Director)Paul Leggett(Director)

Co-investorsHinge CapitalNorwest Venture PartnersRethink ImpactThirty Five Ventures (35V)Mithril Capital Management

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.com𝕏

Draftea is a mobile app for online sports betting, offering live in-game betting with real-time odds across sports such as soccer, American football, basketball, baseball, and Formula 1.

ConsumerGamingSports Tech

Alán Jaime Misrahi(Founder)inJoe Cohen(Founder)in

Co-investorsMantis CapitalCourtside VenturesSequoia CapitalStepstone Group

Drive Motorsin

San Francisco, US

Aaron Krane(Executive Officer, Director)

BoardDuncan Davidson(Director)in

Co-investorsEmagen Entertainment GroupKhosla VenturesPerkins CoieY Combinator

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 VenturesFaith CapitalSRI 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

Saiful Khandaker(Executive Officer, Director, Promoter)Ben Mones(CEO)in

Co-investorsAmplify.LABonfire VenturesConductor CapitalCrosscut VenturesK5 VenturesNavigate Ventures+2 more

Fan Duelfanduel.com𝕏acquired 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 Howein

Co-investorsAmplify.LAAnsa CapitalAurumBettor CapitalCapitalGComcast Ventures+12 more

Fanimalfanimal.comin𝕏Seed · 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-investorsWestern 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/CEO)inJay Patel(Founder)in

Co-investorsFlorida FundersPJCStruck CapitalY Combinatorbloom venture partners

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 VenturesSocial StartsAccelAlpaca VCLaton Ventures

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 PartnersRobin Hood Ventures

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.Escalate Capital PartnersEudemian VenturesForefront VentureGood FriendsMoneta Ventures+6 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

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-investorsFirst Round Capital

Hellorelishhellorelish.comin

Relish publishes relationship and couples advice articles written by professional coaches, covering topics such as intimacy, trust, dating, and self care.

ConsumerMedia & EntertainmentMental HealthWellness & FitnessMamaroneck, US

Lesley Eccles(CEO)in

Co-investorsTrinity Ventures

Hemsterhemster.coinAug 2019

Hemster offers a technology platform that creates personalized fit profiles, using a Fit Profile algorithm to save a person's measurements as reusable "Patterns" and match garments to them.

AI & Machine LearningCircular EconomyConsumerMarketplacesRetail TechNew York, US

Allison Lee(Executive Officer, Director)

BoardAnn Lai(Director)in

Co-investorsHustle FundOyster VenturesFJ LabsThe FundWocstar Capital

Herb falseherb.coin𝕏

Herb is an online cannabis community and content platform that curates cannabis products, strains information, how-to guides, and local experiences for its members.

ConsumerMedia & EntertainmentSocial

Co-investorsGreat Oaks Venture Capital

Hologramhologram.ioin𝕏Series A · Aug 2021 · $9M

Hologram provides global IoT connectivity solutions that simplify device management and reduce costs for businesses deploying internet-connected devices across multiple countries.

HardwareIoTSaaSChicago, US

Benjamin Forgan(Executive Officer, Director)inPatrick Wilbur(Executive Officer, Director)Anne Rosen(Executive Officer)

BoardNick Solaro(Director)in

Co-investorsCapital Midwest FundConvergeDrive CapitalFounders Circle CapitalGutbrain VenturesHypothesis+10 more

HomeLighthomelight.comin𝕏Series A · Feb 2015 · $3M

HomeLightoffers bridge loans and financial solutions that allow homebuyers to remove sale contingencies and access equity for home purchases.

Data & InfrastructureFintechMarketplacesPropTechSan Francisco, US

Drew Uher(Executive Officer, Director)in

BoardTyler Sosin(Director)inOren Zeev(Director)in

Co-investors500 GlobalCrosslink CapitalFundersClubKrillion VenturesMenlo VenturesMetaProp+13 more

Improvadoimprovado.ioin𝕏

Improvado offers a marketing data platform with partnership programs for technology and solution providers, connecting marketing data sources to BI tools, data warehouses, and visualization platforms.

AI & Machine LearningData & InfrastructureMarketing TechSaaS

Daniel Kravtsov(CEO, Founder)inDmitry Nasikanov(CTO, Co-Founder)inAli Flynn(Director of Sales, Co-Founder)in

Co-investorsBessemer Venture Partners500 GlobalCabra VCFundersClubUpdata PartnersAperiam Ventures

Ipsyipsy.com

IPSY is a subscription-based beauty membership that delivers monthly boxes of curated cosmetics and beauty products to consumers.

ConsumerDirect to ConsumerE-commerceSanta Monica, US

Marcelo Camberos(Founder)Jennifer Goldfarb(Founder)inMarcelo Camberos (IPSY)Michelle PhanGalen SmithinRichard Frias

Co-investors500 GlobalACME CapitalAmino CapitalCrosscut VenturesGraph VenturesOmega Venture Partners+2 more

Other

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

Deja MiSpin Joy HoldingsAllCity NetworkArroAssistlyAtriumBeryllium (Sixer)Beyond PricingCleanifyDropGenieFilament LabsFlickFlickappFlip (RedRoute)Flip CXHearo.Live - Multiplayer TVHype (Pico)Jump RampManyCoPiñataReach (Happs)RedRouteRelishSiSu Aesthetics ClinicThe 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 · 28

5 IPOs · 23 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

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 145 tracked investments, 28 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, Forefront Venture, among 305 tracked co-investors.

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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 · 151

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 startup accelerator and early-stage investor that funds ambitious founders and provides capital, mentorship, and access to a global network of investors, operators, and corporate partners.

$220K
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
LaunchCapital

LaunchCapital is a seed and early-stage venture investor that has backed over 200 companies since 2008, working closely with founders from the outset. Its seed investments operate alongside the Pritzker/Vlock Family Office's growth investments.

$50K – $150K
Valuestream Ventures

ValueStream Ventures is an early-stage venture fund focused on B2B platforms built around valuable proprietary data.

$250K – $10M
Bessemer Venture Partners

Bessemer Venture Partners is a global venture capital firm that partners with entrepreneurs across enterprise, consumer, and healthcare sectors from early stages through growth.

$5M – $100M
Accel

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

Both backed · 3
$1.6M – $70M
First Round Capital

First Round Capital is an early-stage venture firm that backs companies at their earliest moments, often before they are named, across enterprise, AI, consumer, healthcare, fintech and hardware sectors.

$1M – $7M
True Ventures

True Ventures is a venture capital firm established in 2005 that focuses on early-stage technology companies, with operations based in Silicon Valley.

Both backed · 3
$500K – $3M
Norwest Venture Partners

Norwest Venture Partners is an investment firm whose growth equity team backs private, profitable, fast-growing companies, providing capital and hands-on support through its 'invited guest' approach.

$10M – $30M
Gradient Ventures

Gradient is a seed-stage venture fund focused on backing founders building artificial intelligence companies, providing hands-on support as builders and mentors.

$100K – $10M
139 more co-investors

RRE VenturesLux CapitalBonfire VenturesLerer HippeauRidge VenturesSocial LeverageSocial StartsMaC Venture CapitalChicago VenturesMontage VenturesScOp Venture CapitalVertical Venture PartnersAndreessen HorowitzKhosla VenturesIVP (Institutional Venture Partners)Sapphire VenturesBling CapitalKapor CapitalResolute VenturesSierra VenturesAngelPadCoinFundReach CapitalAccelerator VenturesCrosscut VenturesGolden VenturesNext Coast VenturesData Point CapitalFramework Venture PartnersRET VenturesOmega Venture PartnersGV (Google Ventures)Founders FundRedpoint VenturesFJ LabsBain Capital VenturesGreat Oaks Venture CapitalTiger Global ManagementStreamlined VenturesOffline VenturesSlow VenturesOak HC/FTHeadlineScale Venture PartnersQED InvestorsTrinity VenturesIntel CapitalAltaIR CapitalLightbankTSVCMS&AD VenturesRenegade PartnersWork-BenchTusk Venture PartnersAngular VenturesForum VenturesG20 VenturesSpace CapitalMithril Capital ManagementMana VenturesKrillion VenturesImaginary Venture CapitalIronspring VentureMHS CapitalAlpine MeridianAperiam VenturesConductive VenturesLaconiaDifferential VenturesZeno VenturesInspiration VenturesCabra VCGrit Capital PartnersLas Olas Venture CapitalSRI CapitalEnergy FoundryCraft VenturesLong Journey VenturesFounder CollectiveUncork CapitalBenchmarkSV AngelUberFoundation CapitalCoatue ManagementDST GlobalEniac VenturesSusa VenturesMayfield FundUpHonest CapitalAccel-KKREmergence Capital PartnersBowery CapitalPractical Venture Capital2048 VenturesQueensBridge Venture PartnersM13Blockchain CapitalPareto HoldingsSalesforce Japan Co.,Ltd.WGI GroupArray Ventures Management LlcBetaworks Ventures Management, Llc7percent VenturesNextGen Venture Partnersboldstart venturesTCVPolychain CapitalUpside PartnershipAnorak VenturesScience VenturesThe Finger GroupCP VenturesRelay VenturesBlueRun VenturesThomvest VenturesVertex Ventures Sea Management Pte. Ltd.20VC14WEuclid Venture PartnersPrimitive VenturesMiramar Venture PartnersDeciensPiton Capital LLPTrust VenturesAlpine VenturesBain Capital VenturePiva CapitalVinyl CapitalTunitas VenturesRock VenturesFormic VenturesHarmonix Music SystemsUpheaval InvestmentsGotham VenturesTrimble Venturesmark vc01VenturesPoseidon Asset Management

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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