Fundraising FoxLemonade Capital
Seed · 1 people tracked
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Investment thesis
Lemonade Capital is a seed-stage investor that invests internationally. The notes provide no further detail beyond its website.
Team · 1 people
from public directories
Allison Thoreson (Bhusri) is the founding partner of Lemonade Capital, investing mainly in early-stage enterprise and consumer technology companies, and is a member of the Broadway Angels investment group. Over more than two decades in business she began her career as a corporate finance analyst in 1995, launched new ventures at eBay, led the baking business unit at Ghirardelli Chocolate Company and invested in enterprise technology at J.P. Morgan Partners.
What they invest in
from 22 of 27 portfolio companiesConsumer ×9AI & Machine Learning ×6Enterprise Software ×6Healthtech ×5Direct to Consumer ×4Marketing Tech ×3Medical Devices ×3SaaS ×3
HQs:United States×23
Who they back
founder profiles across 16 portfolio companiesFounding team size:solo founder×42 founders×73 founders×14+ founders×4
Where their founders studiedfrom 28 founders with education data
Stanford University ×3Norwegian University of Science and Technology (NTNU) ×2University of California, Berkeley, Haas School of Business ×2University of Pennsylvania ×2University of Southern California ×2
What their founders studiedfrom 23 founders with field-of-study data
Business & Management ×8Computer Science ×7Engineering ×5Design & Architecture ×2Economics ×2Finance & Accounting ×2Humanities ×2
Where their founders worked beforefrom 30 founders with career history
Microsoft ×3Bain & Company ×2Johnson & Johnson ×2Strava ×2Tesla ×2
Accelerator rootsportfolio companies that came through a program
5 hold an MBA (of 28 with degree data)
Investments · 27 tracked
founders shown can be your intro pathBy year:2024 · 22017 · 22016 · 15 dated
Argent Work is a women's professional apparel brand that sells workwear and offers style content aimed at working women.
ConsumerDirect to ConsumerE-commerceNew York City, US
Sali Christeson(Founder)in
Co-investorsNat TurnerPortland Seed FundThe Perkins FundFuel CapitalSugar Capital
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BetterUp provides an AI-powered coaching and professional development platform that helps organizations support employee growth and wellbeing.
AI & Machine LearningEnterprise SoftwareFuture of WorkHR TechSaaSWellness & FitnessAustin, US
Alexi Robichaux(Founder)inEduardo Medina(Founder)inEddie Medina(Founder)Will Kohler(Director)David Hatfield(Director)Emily Melton(Director)
Co-investorsAfore CapitalAurumCarnrite VenturesConvergeCrew CapitalCrosslink Capital+26 more
Birdies designs and sells chic, comfort-focused footwear including flats, slides, sneakers, and sandals for women.
ConsumerDirect to ConsumerSanta Monica, US
Bianca Gates(Executive Officer, Director)inMarisa Sharkey(Executive Officer, Director)inDaniel Philip Nicholls(Executive Officer, Director)
Co-investorsSlow VenturesForerunner VenturesNorwest Venture Partners
Calm is a mental health app offering guided meditations, sleep stories, soundscapes, and stress-relief tools designed to help users manage anxiety, improve sleep, and build healthy habits for overall wellness.
HealthtechMental HealthWellness & FitnessMiami, US
Alex Tew(Founder)inMichael Acton Smith(Founder)inDavid Ko(CEO)
Co-investorsAcumen AmericaBrighter CapitalCherubic VenturesConnect VenturesElefundEQUIAM+25 more
Repurpose sells plant-based compostable trash bags and disposable products made without PFAS and BPA, positioned as durable, non-toxic alternatives to conventional plastic goods for household use.
Circular EconomyConsumerDirect to Consumer
Co-investorsSafer Made
Dipsea produces audio stories with professional writers and narrators, offering erotic and romantic audio content for adult listeners.
ConsumerMedia & EntertainmentWellness & Fitness
Co-investorsGaingelsSWAT Equity PartnersSpringbank
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Fabric is a mobile app that records and organizes a user's locations, activities, and social interactions into a personal log, allowing users to track where they've been and review associated photos and notes.
ConsumerSocialSan Francisco, US
Arun Vijayvergiya(CEO)inNikolay Valtchanov(Founder)in
Co-investorsY CombinatorBessemer Venture PartnersHouseSamsung VenturesScrum VenturesSlow Ventures+1 more
Guild operates a global education benefits platform that connects employees to a curated learning marketplace, 1:1 coaching, and analytics so employers can develop talent, fill critical roles, and build internal mobility.
EdTechFuture of WorkHR TechDenver, US
Brittany Stich(Founder)inRachel Carlson(Cofounder)Chandler K.inGREG SIEGEL(Executive Officer)RACHEL ROMER CARLSON(Executive Officer, Director, Promoter)NATALIE MCCULLOUGH(Executive Officer)
Co-investorsAbbhi CapitalBessemer Venture PartnersBuilders + BackersCowboy VenturesFelicis VenturesGeneral Catalyst+33 more
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Hint makes zero-sugar flavored water sold directly to consumers, offered in 25 fruit flavors with a subscription option.
ConsumerDirect to ConsumerE-commerceFoodTechSan Francisco, US
Kara Goldin(Executive Officer, Director)inTheo Goldin(Executive Officer, Director)in
BoardEric Melloul(Director)Kenneth R. Sadowsky(Director)Julio Pekarovic(Director)
Co-investorsOwl CapitalSiddhi CapitalSusquehanna Growth EquityThe Perkins FundVerlinvestWestern Technology Investment+2 more
Seattle-based marketplace connecting property managers and home warranty providers with vetted repair contractors.
Seattle, US
Rishi Mathew(Founder)in
Co-investorsAscend Venture CapitalPender VenturesSeaChangeTechstarsUnlock Venture PartnersAscend
Luminist Labs provided a non-invasive test to identify and assess the progression of liver fibrosis and NASH in patients.
HealthtechMedical DevicesNew York City, US
Storm Stillman(CEO)inAlex Levy(Advisor)inWill Olsen(COO)inSamantha Friedman(Chief Scientific Officer)
Co-investorsY CombinatorAME Cloud VenturesKhosla VenturesMorado Ventures
Notable Labs operates an automated laboratory that tests combinations of existing drugs against individual patients' blood cancer cells to identify effective treatment options for patients whose cancers have become resistant to standard therapies.
BiotechHealthtechMedical DevicesSan Francisco, US
Matthew De Silva(CEO)inPete Quinzio(Founder)inConnor Warnock(Senior Engineer)Van Duesterberg(Science Consultant)Omid Karkouti(Vice President of Business Development)Scott Patterson(Vice President of Engineering)
Co-investors11.2 CapitalAlumni VenturesBuilders VCFundersClubGaingelsHemisphere Ventures LLC+30 more
Outreach is a sales engagement platform, founded in 2014, that helps sales teams manage customer outreach and improve revenue outcomes.
AI & Machine LearningEnterprise SoftwareMarketing TechSaaSSales TechSeattle, US
Manny Medina(Founder)inManuel Medina(Founder)Wesley Hather(Executive Officer, Director)Andrew Kinzer(Founder)inGordon Hempton(Founder)inWes Hather(Founder)in
Co-investorsDFJSalesforce VenturesSands Capital Ventures408 VenturesAliya Capital PartnersBonfire Ventures+20 more
Overview AI builds AI-powered vision systems that detect manufacturing defects in real-time across production lines, learning and adapting to any product within hours.
Advanced ManufacturingAI & Machine LearningDeep TechIoTRoboticsSan Francisco, US
Austin Appel(Founder)inRussell Nibbelink(Founder)inChristopher Van Dyke(Founder)inXiaoyang Kao(Founder)inDaniel Chen(GTM)Sarah Ham(Future COO)
Co-investorsAlumni VenturesArray Ventures Management LlcBlumberg CapitalCorrelation VenturesGV (Google Ventures)Homebrew+13 more
Owlet develops baby sleep monitoring devices and software that provide real-time wellness insights for infants.
ConsumerHealthtechIoTLehi, US
Kurt Workman(Founder)inJordan Monroe(Founder)inSPENCER TAYLOR(Executive Officer)in
BoardLIOR SUSAN(Director)inEDWARD SCAL(Director)
Co-investors37 AngelsEniac VenturesIPD CapitalOwl CapitalR/GA VenturesRTP Global+11 more
Perlara is a biopharmaceutical company that develops treatments for ultra-rare genetic diseases using yeast-based disease modeling and drug repurposing strategies.
BiotechDeep TechHealthtechMedical DevicesSan Francisco, US
Ethan Perlstein(CEO)in
BoardMatthew Wilsey(Director)Linda Avey(Director)
Co-investorsY CombinatorAgrolimen VenturesHaystackHomebrewMicroVenturesNovartis Institute for Biomedical Research+2 more
Raptor Maps provides AI-powered analytics and automation software for solar plant operations, helping owners, operators, and engineers reduce costs and losses through visual data analysis and autonomous drone inspections.
Advanced ManufacturingAgTechAI & Machine LearningClimate TechBoston, US
Nikhil Vadhavkar(President and CEO)inEddie Obropta(CTO)inForrest Meyen(Founder)Courtney Strauss(Business Operations Manager)Assaf Weinberg(Head of Engineering)Elizabeth Bennett(People Operations Coordinator)
Co-investorsArgonautic VenturesBlue Bear Capital PartnersBuoyant Ventures Management, LlcClean Energy VentureCongruent VenturesData Point Capital+17 more
Tukwila, US
Christie Lagally(Executive Officer, Director)Kristie Middleton(Executive Officer, Director)Elzbieta Madej(Director)in
BoardMike Miller(Director)inOwen Gunden(Director)Yongbai Choi(Director)
Co-investorsBlue Horizon CorporationFifty YearsLiquid VenturesSentient Ventures
Shelf Engine developed automated demand forecasting and ordering technology for grocery retailers, using machine learning to predict sales of perishable goods and reduce food waste.
AI & Machine LearningData & InfrastructureEnterprise SoftwareSeattle, US
Stefan Kalb(CEO)inBede Jordan(CTO)inAre Traasdahl(CEO/Founder)inDag Liodden(CPO/Founder)inDeb Nielsen(Human resources)Sasha Martin(Head of Recruiting)
Co-investorsGeneral CatalystInitialized CapitalNotable CapitalPLUS CapitalSoma CapitalVentureSouq+13 more
Substack is a publishing platform that allows writers to create newsletters, cultivate audiences, and earn revenue through reader subscriptions.
Enterprise SoftwareMarketing TechMarketplacesSan Francisco, US
Chris Best(CEO)inJairaj Sethi(CTO)inHamish McKenzie(COO)inChris Mueller(Engineering Manager)Gabriel Birnbaum(Product Designer)inAmanda Adams(Engineering Manager)
Co-investorsAndreessen HorowitzBond Capital ManagementConnetic VenturesFundersClubGarage CapitalGeneral Catalyst+15 more
The Athletic is a sports media platform that provides news, analysis, and commentary covering professional and college sports.
ConsumerMedia & EntertainmentSports TechSan Francisco, US
Alex Mather(CEO)inAdam Hansmann(COO)inBalen GoreGeorge Quraishi(Managing Editor, Soccer)inAndrew Pineda(Recruiter)David Wake(Business Operations Manager)
Co-investorsAdvancit CapitalComcast VenturesCourtside VenturesFounders FundJackson Square VenturesLuminari Capital+15 more
Tipe is a headless content management system designed for developers, offering schema-based content modeling and framework integrations for building web applications.
Data & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US
Scott Moss(CEO)inMichael Moss(CPO)inPatrick Stapleton(CTO)inLauren Tran(Recruiter)
Co-investorsY CombinatorCRV (Charles River Ventures)Hack VCM VenturesMaC Venture CapitalPrecursor Ventures
True Link provides financial cards designed to protect vulnerable individuals, particularly elderly people, from fraud and financial abuse while enabling greater independence.
ConsumerFintechNew York City, US
Kai Stinchcombe(CEO)inClaire McDonnell(COO)inKhanh Tran(People Operations Associate)Jerod Laughlin(CMO)
BoardFrank Rotman(Director)in
Co-investorsAlumni VenturesCentana Growth PartnersCentana PartnersCollaborative FundDeciensGenerator Ventures+17 more
Writer offers an enterprise AI platform where companies build and delegate work to AI agents that carry out tasks end-to-end using a company's own context, standards, and brand guidelines.
AI & Machine LearningEnterprise SoftwareMarketing TechSan Francisco, US
May Habib(Founder)inWaseem AlShikh(Founder)in
BoardWhitney Bouck(Director)Sandesh Patnam(Director)Robert Toews(Director)J Zachary Stein(Director)
Co-investorsAcrew CapitalAltra VentureAngel Collective Opportunity FundB Capital GroupB4 CapitalBalderton Capital+28 more
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Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
GetjoyaHoneylove
Exits · 5
1 IPOs · 4 acquisitions · showing 2Luminist Labsacq. by DiscernDxShelf Engineacq. by Crisp
Portfolio news
latest coverage across their companies
Calm · multiples.vc · Sep 19, 2026
BetterUp · forgeglobal.com · Sep 15, 2026
The Athletic · en.wikipedia.org · Sep 2, 2026
True Link · en.wikipedia.org · Aug 26, 2026
Substack · en.wikipedia.org · Aug 26, 2026
Hint · trysignalbase.com · May 13, 2026
Frequently asked questions
- How many investments has Lemonade Capital made?
- Lemonade Capital has 27 tracked investments, 5 of which have exited, including 2 dated in the last 24 months.
- What stage does Lemonade Capital invest at?
- Lemonade Capital invests at the Seed stage.
- What sectors does Lemonade Capital focus on?
- Lemonade Capital focuses on Advanced Manufacturing, Consumer, Enterprise Software, Healthtech.
- Who does Lemonade Capital co-invest with?
- Lemonade Capital most often shares deals with Y Combinator, Felicis Ventures, ICONIQ, among 146 tracked co-investors.
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