Costanoa Ventures
Venture capitalActively deployingSan Francisco · Pre-Seed–Series A · 26 people tracked
Also known as COSTANOA VENTURE CAPITAL MANAGEMENT, LLC
Investment thesis
Costanoa takes a selective, long-view approach to venture investing, partnering with a small number of founders tackling big, hard problems. The firm emphasizes deep engagement and operational support, aiming to act as an extension of a startup's own team throughout the company-building journey. Testimonials highlight a focus on enterprise and software companies, with the firm drawing on decades of experience and pattern recognition to help founders navigate complex business challenges from the earliest stages through major milestones.
Source: firm website, verified Aug 3, 2026.
Team · 26 people
from the firm's website & public directories
What they invest in
from 21 of 43 portfolio companiesAI & Machine Learning ×12Enterprise Software ×8SaaS ×6Cybersecurity ×5Data & Infrastructure ×5Developer Tools ×5Deep Tech ×3Fintech ×3
HQs:United States×28Norway×1
Investments · 43 tracked
founders shown can be your intro pathSan Francisco, US
Board seatGreg Sands· per SEC Form D · $25M raise · filed Jan 2022
Auterion develops products and services around open standards for autonomous systems technology, contributing to open source projects and supporting academic institutions.
AI & Machine LearningDeep TechDefense TechDeveloper ToolsRoboticsn/a, US
LORENZ MEIER(Executive Officer, Director)ALEX FERRARA(Director)ROBERT RAINHART(Executive Officer)GREG SANDS(Director)KLAUS HOMMELS(Director)
Board seatGreg Sands· per SEC Form D
San Francisco, US
Greg Sands(Director)Antony Brydon(Executive Officer, Director)Jeff Patterson(Executive Officer, Director)
Board seatGreg Sands· per SEC Form D · $3M raise · filed Oct 2015
Chicago, US
Jason Jacobs(Executive Officer)John Cowgill(Director)Edward Bellis(Executive Officer, Director)Michael Roytman(Director)Stephen Ward(Director)
Board seatJohn Cowgill· per SEC Form D
San Francisco, US
Board seatJohn Cowgill· per SEC Form D · $5.1M raise · filed Jul 2025
Mountain View, US
Laurent Pacalin(Executive Officer, Director)Greg Sands(Director)Matt Glickman(Director)Hue Harguindeguy(Executive Officer)Skip Glass(Director)Jim Simons(Director)
Board seatGreg Sands· per SEC Form D · $5.6M raise · filed Sep 2016
San Francisco, US
Gregory Sands(Director)Kin Kee(Executive Officer)John MacIlwaine(Executive Officer, Director)Nicola Morris(Executive Officer)
BoardMatt Streisfeld(Director)
Board seatGreg Sands· per SEC Form D · $11.5M raise · filed Oct 2020
Hona builds AI-powered case management software that automates client follow-ups and case tracking for law firms.
AI & Machine LearningEnterprise SoftwareLegalTechSaaSOrem, US
Josh Christensen(Founder)inMatt McClellan(Founder)in
Board seatAmy Cheetham· per SEC Form D · $11.2M raise · filed Apr 2024
Seattle, US
Greg Gottesman(Director)Todd Owens(Executive Officer, Director)
Board seatAmy Cheetham· per SEC Form D · $12.1M raise · filed Mar 2022
San Jose, US
Todd Dale Westerlund(Executive Officer)Kate Wilmot(Executive Officer, Director)Greg Sands(Director)Ryan Wilmot(Executive Officer, Director)
Board seatGreg Sands· per SEC Form D · $324K raise · filed Feb 2018
Chicago, US
John Cowgill(Director)Jared Golden(Director)Amish . Tolia(Executive Officer, Director)
BoardRick Zullo(Director)
Board seatJohn Cowgill· per SEC Form D · $15M raise · filed Mar 2026
Lively provides AI-powered customer service and support for the benefits administration industry, combining intelligent technology with human representatives to resolve employee and customer inquiries.
AI & Machine LearningEnterprise SoftwareFintechHealthtechHR TechSaaSSan Francisco, US
Alex Cyriac(Founder/CEO)inShobin Uralil(Founder/COO)
Board seatMark Selcow· per SEC Form D · $15.2M raise · filed Nov 2018
Muon Space designs, builds, and operates satellite constellations using its proprietary Halo technology stack, which integrates spacecraft platforms, payload integration, and software-defined orchestration to deliver data and enable real-time computation in space.
Deep TechHardwareSpace TechSilicon Valley, US
Jonny Dyer(Founder & CEO)Paul Day(Executive Officer, Director)Daniel McCleese(Executive Officer, Director)John Cowgill(Director)Rob Toews(Director)
Board seatJohn Cowgill· per SEC Form D · $25M raise · filed Jun 2022
San Francisco, US
Andrew Sutherland(Executive Officer, Director, Promoter)Jon Foster(Executive Officer)David L. Margulius(Director, Promoter)Greg Sands(Director)Mark Selcow(Executive Officer, Director)
BoardFred Wilson(Director)
Board seatGreg Sands· per SEC Form D
Return Path (now part of Validity) offers email deliverability tools that provide real-time inbox placement testing, sender reputation and authentication monitoring, blocklist alerts, and pre-send deliverability checks.
Data & InfrastructureMarketing TechSaaSNew York, US
Fred Wilson(Director)Brad Feld(Director)Patrick Severson(Director)Scott Petry(Director)Jennifer Walsh(Secretary)George Bilbrey(Executive Officer)
Board seatGreg Sands· per SEC Form D · $261.8K raise · filed Dec 2016
RunReveal is a unified security data platform that lets security teams ingest logs, detect threats, and respond, positioning itself as a simplified, AI-driven alternative to traditional SIEM tools.
AI & Machine LearningCybersecurityData & InfrastructureAustin, US
Alan Braithwaite(CTO & Co-Founder)Evan Johnson(CEO & Co-Founder)John Cowgill(Director)
Board seatJohn Cowgill· per SEC Form D
San Francisco, US
Parul Gupta(Executive Officer, Director)Gautam Tambay(Executive Officer, Director)
Board seatMark Selcow· per SEC Form D · $11.1M raise · filed Apr 2019
StackHawk provides an API security tool designed for software development teams to identify and fix security vulnerabilities in real-time as part of their development workflow.
AI & Machine LearningCybersecurityDeveloper ToolsSaaS
Joni Klippert(CEO, Co-Founder)Scott Gerlach(CSO, Co-Founder)David Hartwig(Director)Greg Sands(Director)Bryce Ambraziunas(Executive Officer)Todd Vernon(Director, Promoter)
Board seatGreg Sands· per SEC Form D
San Francisco, US
Board seatMark Selcow· per SEC Form D · $15.5M raise · filed Apr 2022
San Francisco, US
Board seatMartina Lauchengco· per SEC Form D · $12M raise · filed Apr 2018
Boulder, US
Ryan McIntyre(Director)James M. Lejeal(Director)Bryce Ambraziunas(Executive Officer)Todd Vernon(Executive Officer, Director)Gregory P. Sands(Director)
Board seatGregory P. Sands· per SEC Form D · $14.6M raise · filed Nov 2015
Tomball, US
Board seatJohn Cowgill· per SEC Form D · $31.5M raise · filed Jan 2025
Aquabyte develops an AI-powered platform combining computer vision and machine learning to monitor fish health, welfare, behavior, and biomass for aquaculture farms at sea and on land.
AgTechAI & Machine LearningIoTNorway, NO
Bugcrowd operates a platform that connects security researchers and hackers with organizations to identify and report vulnerabilities in their attack surface.
CybersecuritySan Francisco, US
Chris Raethke(Executive Officer)Neill Occhiogrosso(Director)Casey Ellis(Executive Officer, Director)
BoardCharles Beeler(Director)
Startup building tools for smarter legal work, backed by Costanoa.
A modern Health Savings Account (HSA) platform for employers and individuals, positioning itself as a 401(k) equivalent for healthcare.
Midship provides AI agents to augment audit professionals, offering transparency into AI work performance and integration with existing audit technology stacks.
AI & Machine LearningEnterprise SoftwareFintechSan Francisco, US
Kieran Taylor(Co-Founder)inAahel Iyer(Founder)inMax Maio(Co-Founder)in
Shepherd provides schools with a learning platform that integrates AI-powered study tools, tutoring access, peer collaboration features, and progress tracking to offer students personalized academic support.
AI & Machine LearningEdTechMarketplaces
Moyosoreoluwa Orekoya(Founder)inMarcella Imoisili(Founder)inKehinde Williams(Founder)in
Shepherd is an AI assistant that integrates with a team's existing tools (messaging, code editors, CRM platforms) to create a unified memory system.
AI & Machine LearningEnterprise SoftwareHardwareSaaSSan Francisco, US
Philip Meng(Founder, CEO)inIshan Ramrakhiani(Founder)inElijah Renner(Founder)in
Smack builds domain-specific AI models for military decision-making.
AI & Machine LearningDeep TechDefense Tech
Andy Markoff(Founder & CEO)Clint Alanis(COO & Co-Founder)Dan Gould(Head of Strategy & Co-Founder)
Springboard is an online learning platform offering career-focused courses in fields like software engineering, data science, cybersecurity, and UX design, with personalized mentor and career coaching support.
EdTech
Daly City, US
Kyle Kirwan(Executive Officer)Georgy Gryazov(Executive Officer, Director)
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.
Frequently asked questions
- What stage does Costanoa Ventures invest at?
- Costanoa Ventures invests at the Pre-Seed, Seed, Series A stages.
- What is Costanoa Ventures's typical check size?
- Costanoa Ventures typically writes checks of $500K – $8M.
- What sectors does Costanoa Ventures focus on?
- Costanoa Ventures focuses on AI & Machine Learning, Data & Infrastructure, Deep Tech, Enterprise Software, Fintech, SaaS, Sector Agnostic.
- Where is Costanoa Ventures located?
- Costanoa Ventures is headquartered in San Francisco, US.
- Does Costanoa Ventures lead rounds?
- Yes, Costanoa Ventures leads investment rounds.
From the blog
visit blog ↗Costanoa recently focused on national security and defense technology investments, including announcing Joe Sullivan as a Venture Partner and highlighting portfolio companies like Lumbra and Vannevar that apply AI and advanced technology to intelligence and military challenges. AI summary
Media · Podcasts & interviews
featuring the team187th 1Mby1M Entrepreneurship Podcast With Mark Selcow, Costanoa Ventures - 1Mby1M Entrepreneursh...
1Mby1M Roundtables · Mark Selcow
What Founders Get Wrong About Picking VCs | Greg Sands, Costanoa Ventures | The Venture Variety Show
The Venture Variety Show · Greg Sands
2025 Venture Investing ft. Costanoa Ventures Partner Amy Cheetham
Grace Gong · Amy Cheetham
The Power of Storytelling with Amy Cheetham at Costanoa Ventures
DrinksWithAVC · Amy Cheetham
Defining Product Market Fit with Amy Cheetham at Costanoa Ventures
DrinksWithAVC · Amy Cheetham
Fundraising & Facing Your Fears with Amy Cheetham at Costanoa Ventures
DrinksWithAVC · Amy Cheetham
Images
Co-investors · 114
Point72 Ventures is a venture capital firm that backs founders across sectors, providing insight, industry expertise, and network support. Since 2016 it has invested in more than 130 companies.
Bessemer Venture Partners is a venture capital firm that partners with entrepreneurs from early stages through every stage of growth, publishing investment roadmaps across multiple technology sectors.
Felicis Ventures is an early-stage venture capital firm that has backed founders for over 20 years, leading or co-leading the majority of its investments across seed and Series A rounds.
Union Square Ventures is a venture capital firm based in New York City that invests in companies at the edge of large markets being transformed by technological and societal pressures.
Sapphire Ventures is a venture capital firm founded in 2011 that backs technology companies, offering operating support such as executive talent and customer introductions to its portfolio.
Foundry Group is a venture capital firm that describes its approach as network-driven investing. It maintains offices in New York and Boulder, Colorado.
645 Ventures is an early-stage venture capital firm that backs exceptional founders at the earliest stages, often pre-product, pre-revenue, and pre-consensus.
Andreessen Horowitz's Strategic Partnerships page describes collaborations that connect its portfolio companies with established institutions to help scale and deploy their technology.
Sequoia Capital is a venture capital firm that partners with founders to build technology companies, with a strong current focus on artificial intelligence.
General Catalyst is a venture capital and investment firm that backs founders across industries, with a strong focus on AI-driven transformation, fintech, healthcare, and other sectors.
Index Ventures is a venture capital firm that backs founders across the globe, investing in the people behind ideas from early through later stages.
Redpoint Ventures is a venture capital firm established in 1999 by former partners from leading venture firms, focusing on early-stage technology companies across multiple sectors. The firm leverages its partners' technology investment experience and an extensive network of entrepreneurs and industry contacts to support portfolio company growth.
▶102 more co-investors
Bain Capital VenturesSpark CapitalB Capital GroupStreamlined VenturesOak HC/FTIA VenturesBlackbird VenturesM12 (Microsoft's Venture Fund)Owl VenturesXYZ Venture CapitalRadical VenturesPaladin Capital GroupCongruent VenturesEqual VenturesUbiquity VenturesAltos VenturesAlaya CapitalGV (Google Ventures)Lightspeed Venture PartnersAccelGreylock PartnersNew Enterprise Associates (NEA)Alumni VenturesUncork CapitalInsight PartnersBenchmarkFoundation CapitalEverywhere VenturesKrakenTrue VenturesNorwest Venture PartnersCanaan PartnersPlug and Play VenturesBattery VenturesFirstMarkRRE VenturesNextView VenturesFreestyle CapitalEmergence Capital PartnersScale Venture PartnersObvious VenturesCanvas VenturesSoftBank Vision FundAmplify PartnersFloodgateStride VCAcrew CapitalTodd and Rahul’s Angel FundLerer HippeauUS Venture PartnersBanana CapitalThreshold VenturesLightbankWingUncorrelated VenturesHomebrewSalesforce Japan Co.,Ltd.ChemistryDell Technologies CapitalUnusual VenturesAwesome People VenturesBetter Tomorrow VenturesAIX VenturesDraper Fisher Jurvetson (DFJ)March Capital PartnersTribeca Venture PartnersHigh AlphaOurCrowdHyde Park Venture PartnersDecibel PartnersAmerican Express Ventures (Amex)HeavybitShrug CapitalSummit PartnersPreston-Werner VenturesJackson Square Venturesfirstminute capitalHouseGreenoaksSamsung NextScout VenturesXfundNational Grid PartnersSorenson VenturesToyota VenturesAdams Street PartnersRembrandt Venture PartnersCerity Partners VenturesCalibrate VenturesFrialeAlchemist JapanMPG FundWorkday VenturesPritzker Group Venture CapitalMain Sequence VenturesCreative Destruction Lab (CDL)DVx VenturesChainforestBerkeley Blockchain XceleratorJetBlue VenturesLeonis CapitalWesterly Winds
Firms observed investing alongside Costanoa Ventures, from public investor directories. Shared companies are the overlap with Costanoa Ventures's recorded portfolio.
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