Underscore VC
Venture capitalBoston · Pre-Seed–Series A · 25 people tracked
Also known as UNDERSCORE.VC MANAGEMENT COMPANY, LLC
Investment thesis
Underscore VC backs early-stage B2B software startups worldwide, positioning itself as a founder's link to Boston's innovation hub. The firm has pioneered an 'open-source' investing model, sharing profits with experts in its Underscore Core Community who support portfolio companies. This collaborative approach aligns the firm's broader network of operators and advisors with the founders it backs, aiming to provide hands-on business-building support alongside capital.
Source: firm website, verified Aug 3, 2026.
Team · 25 people
from the firm's website & public directories
What they invest in
from 29 of 72 portfolio companiesAI & Machine Learning ×22SaaS ×16Enterprise Software ×8Data & Infrastructure ×6Marketing Tech ×6Cloud Computing ×5Fintech ×5Healthtech ×4
HQs:United States×23United Kingdom×1
Investments · 72 tracked
founders shown can be your intro pathFlower Mound, US
Christopher Michael Condon(Executive Officer, Director)
BoardAlexey Freed(Director)
Board seatBrian Devaney· per SEC Form D · $6.1M raise · filed Feb 2025
St. Louis, US
Brian Devaney(Director)Fady Hawatmeh(Executive Officer, Director)Robert Hower(Director)
Board seatBrian Devaney· per SEC Form D · $3M raise · filed Oct 2023
CloudZero provides cost allocation and financial management for AI workloads, helping companies understand the ROI of their AI investments across cloud platforms and AI services.
AI & Machine LearningCloud ComputingEnterprise SoftwareBoston, US
Erik Peterson(Executive Officer, Director)Don Bulens(Executive Officer, Director)Philip Pergola(Executive Officer, Director)Michael Skok(Director)
BoardTim Barrows(Director)
Board seatJames OrsilloMichael Skok· per SEC Form D
Cambridge, US
Sharon Goldberg(Director)Ethan Heilman(Executive Officer, Director)Richard Dulude(Director)
Board seatRichard Dulude· per SEC Form D · $1.8M raise · filed Dec 2017
North Charleston, US
Jackson Stone(Executive Officer, Director)Charlotte Lawson(Executive Officer, Director)
Board seatLily Lyman· per SEC Form D
Newburyport, US
Arik Keller(Executive Officer, Director)Eric Carlstrom(Director)
BoardMichael Tyrell(Director)Christopher Gardner(Director)Joshua Summers(Director)
Board seatRichard Dulude· per SEC Form D · $8.5M raise · filed Nov 2020
TetraScience provides a Scientific Data and AI Platform that produces AI-native scientific data and lab data management products for scientific research and discovery.
AI & Machine LearningBiotechData & InfrastructureHealthtechSaaSBoston, US
Siping Wang(Founder/CTO)inChristopher Lynch(Director)Deven Parekh(Director)Patrick Grady(Executive Officer, Director)inJames S. Orsillo(Executive Officer, Director)Remy Evard(Director)
Board seatMichael Skok· per SEC Form D
Transforming air cargo with shared airfreight gateways.
BusRight provides a student transportation platform that enables transportation teams to manage routes, stops, and operations.
Logistics & Supply ChainSaaSChappaqua, US
Phillip Dunn(Executive Officer, Director)Keith Corso(Executive Officer, Director)Mark Volchek(Director)
BoardTomy Han(Director)
Cloudera provides a hybrid data and AI platform that unifies data across clouds, data centers, and edge environments, enabling organizations to apply AI and analytics while maintaining control and governance over their entire data estate.
AI & Machine LearningCloud ComputingData & Infrastructure
Cenoa is a fintech platform that enables global freelancers and solopreneurs to open free US, European, or UK bank accounts and receive international payments with zero fees.
Creator EconomyFintechSaaS
Seçkin Çağlın(Cofounder, Co-CEO)inEmre Ertan(Cofounder, Co-CEO)inBuğra Çakmak(Cofounder, Blockchain)inSırrı Perek(Cofounder, Tech Lead)in
project44 is a supply chain software company serving logistics and supply chain operations teams to improve visibility and efficiency across supply networks.
AI & Machine LearningEnterprise SoftwareLogistics & Supply ChainSaaSChicago, US
Jett McCandless(Founder and CEO)in
Smart bracelet designed by survivors of assault to provide an easy exit from iffy situations.
Captures unstructured data and transforms it into enriched, computational-ready knowledge.
Frase is an SEO content platform that runs SERP-grounded research, on-page optimization, AI-visibility tracking, and content-decay fixes in one workspace, scoring pages for both Google and AI search engines like ChatGPT, Perplexity, Claude, and Gemini.
AI & Machine LearningMarketing TechSaaSBoston, US
Tomas Ratia(CEO, President, Treasurer and Secretary)Cody Jaques(Director)Francesco Liuzzi(Director)
Defense and dual-use robotics company building autonomous systems for critical military and maritime challenges.
Goldcast provides AI-powered video content creation and management tools that transform long-form videos into production-ready clips, blogs, and social content for go-to-market teams.
AI & Machine LearningMarketing TechNew York, US
Kishore Kothandaraman(Cofounder)Sumir Chadha(Director)Palash Soni(Executive Officer, Director)
Digital infrastructure for commercial insurance enabling quote and bind through a single API.
Hi Marley provides communication and engagement software for insurance carriers and policyholders, using intelligent solutions to facilitate customer interactions throughout the insurance lifecycle.
Enterprise SoftwareInsurTechSaaSBoston, US
Mitesh Suchak(Executive Officer, Director)John Miller(Executive Officer, Director)Michael Greene(Executive Officer, Director)Paul Yanosy(Executive Officer)
BoardPuneet Agarwal(Director)
HourWork provides an AI-driven employee engagement and retention platform for quick-service restaurant (QSR) operators, integrating with HRIS systems to run automated text and email outreach, sentiment analysis, and employee feedback.
AI & Machine LearningHR TechSaaS
Hypernatural is an AI-powered video creation tool aimed at making video production accessible to creators without technical expertise.
AI & Machine LearningCreator EconomyMedia & EntertainmentElm Grove, US
Chris Kolbe(Executive Officer, Director)
San Francisco, US
Vinayak Ramesh(Executive Officer, Director, Promoter)Ashu Garg(Director)Devavrat Shah(Director, Promoter)Sandesh Patnam(Director)
IOpipe is a serverless DevOps platform that provides visibility and monitoring for serverless applications in production.
Cloud ComputingData & InfrastructureDeveloper ToolsSeattle, US
Erica Windisch(Founder and CTO)Adam Johnson(Executive Officer, Director)Eric Windisch(Executive Officer, Director)
Kard provides transaction data and insights from millions of consumers to advertisers and financial institutions, enabling banks and card issuers to understand shopping behavior across consumer wallets while offering customizable API integrations.
AdTechAI & Machine LearningData & InfrastructureFintechMarketing TechNew York City, US
Korl is an AI agent that generates personalized business presentations for customer interactions like roadmap reviews, quarterly business reviews, and contract renewals by integrating data from tools like Salesforce, Jira, and Google Docs.
AI & Machine LearningEnterprise SoftwareSaaS
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LearnLux provides personalized financial guidance to employees through employers, covering budgeting, debt management, benefits navigation, and long-term planning delivered by credentialed financial planners on a fiduciary basis.
FintechHR TechSaaSWellness & FitnessBoston, US
Rebecca Liebman(Chief Executive Officer)Michael Liebman(Vice President, Treasurer and Assistant Secretary)
Simplifies multi-click processes into single-click actions across multiple software systems.
Luminai builds an AI-native operating system that unifies fragmented healthcare operational work streams to automate administrative and operational tasks across health systems.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareHealthtechSaaSSan Francisco, US
Kesava Kirupa Dinakaran(Founder)in
Mable is a genomics-based telehealth platform that provides personalized migraine care by analyzing patients' genetic and biomarker data to inform individualized treatment plans.
AI & Machine LearningBiotechDigital HealthHealthtechMedical DevicesLondon, GB
Roman Rothaermel(Founder)inInna Thalmann(Founder)inChris EijsboutsKumeren Govnder
Comprehensive crypto market dashboard aggregating data, news, metrics, and proprietary research
Moltin provides API-based commerce infrastructure that allows retailers and developers to build and deploy shopping experiences across websites, mobile apps, and other customer touchpoints.
E-commerceEnterprise SoftwareBoston, US
Jamie Holdroyd(Founder/CIO)inAdam Sturrock(Founder/Vice President Customer Success)inChris Roach(Executive Officer)Will Prendergast(Director)
AI-powered data protection platform.
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 Underscore VC invest at?
- Underscore VC invests at the Pre-Seed, Seed, Series A stages.
- What sectors does Underscore VC focus on?
- Underscore VC focuses on AI & Machine Learning, Crypto & Web3, Developer Tools, Enterprise Software, Fintech, Logistics & Supply Chain, Robotics, SaaS.
- Where is Underscore VC located?
- Underscore VC is headquartered in Boston, US.
- Does Underscore VC lead rounds?
- Underscore VC typically participates in rounds rather than leading them.
Media · Podcasts & interviews
featuring the teamUnderscore VC’s Lily Lyman Talks ’Whole New Ballgame’ of AI Investing
Lily Lyman · finance.yahoo.com
Lily Lyman from Underscore VC shares how volatility is the new normal. Be a high velocity learner!
MGMT Boston - The Lantern · Lily Lyman
Lily Lyman, General Partner at Underscore VC - Feb 2026
MGMT Boston - The Lantern · Lily Lyman
Lily Lyman, General Partner at Underscore VC
MGMT Boston - The Lantern · Lily Lyman
Chris Gardner, Partner at Underscore VC - The VentureFizz Podcast
VentureFizz · Chris Gardner
Co-investors · 49
G20 Ventures is an early-stage venture capital firm that backs new businesses with capital, storytelling support, and connections, with a focus on enterprise SaaS companies.
Greylock Partners is a venture capital firm that backs founders at the earliest stages, often as their first investor before a product exists.
Afore Capital is a $500M pre-seed venture fund that invests in pre-traction, early-stage companies, leveraging product and investment expertise to support founders from day zero.
Nascent is a crypto-focused investment firm that builds, invests in, and competes across open markets and permissionless technologies, deploying both venture and liquid strategies as active participants in the crypto ecosystem.
Bain Capital Ventures is the venture arm of Bain Capital, backing founders from incubation and seed through growth-stage, leveraging Bain Capital's global platform, industry expertise, and network.
Menlo Ventures is a venture capital firm that backs transformative, early-stage technology companies reshaping how people live and work.
Emergence Capital is a venture capital firm that partners with founders building B2B software companies, from early-stage cloud and SaaS pioneers to AI-native innovators.
Ulu Ventures is a seed-stage venture capital firm focused on finding and funding early-stage founder teams, emphasizing diversity and data-driven investment decisions.
Venrock is a venture capital firm investing across technology and healthcare, backing companies in fintech, developer infrastructure, life sciences, therapeutics, semiconductors, and consumer products.
Hack VC is a thesis-driven venture capital firm that partners with founders at the earliest stages building next-generation Internet technologies across crypto, AI, and other frontier areas.
2048 Ventures is a thesis-driven early-stage venture capital firm based in New York and Boston that backs founders building future technologies.
Threshold Ventures is a venture capital firm that partners with founder-led companies at inflection points of breakout growth, engaging early and providing hands-on advice during moments of market transformation.
▶37 more co-investors
MaC Venture CapitalFikaFlare Capital PartnersDefy PartnersGlasswing VenturesSparkLabs Global VenturesNavitas CapitalGeneral CatalystAlumni VenturesRedpoint VenturesBenchmarkSV AngelCRV (Charles River Ventures)Goat CapitalFirstMarkSlow VenturesNextView VenturesSignalFireAccel-KKRStride VCTrajectory VenturesThrive CapitalGustoPear VCUncorrelated VenturesCyberstartsStandard CapitalNewView CapitalAlvenTRANSFORMATION CAPITALPage One VenturesStellation CapitalSyngenta Group VenturesEight Roads VenturesAglae VenturesImpellent VenturesLagrange Labs
Firms observed investing alongside Underscore VC, from public investor directories. Shared companies are the overlap with Underscore VC's recorded portfolio.
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