Initialized Capital

Founded in 2012, Initialized Capital is a San Francisco-based early-stage venture capital firm focused on technology sectors. With over $3 billion under management across five funds since inception, the firm invests primarily at seed stage and has helped create over $200 billion in market value among its portfolio companies.

Alejandra Calvo

Associate

Kim-Mai Cutler

Partner

Brett Gibson

Managing Partner

Andrew Lee

Partner

Marinda Luk

CFO

Past deals in San Francisco Bay Area

CoinAlpha

Venture Round in 2023
CoinAlpha, Inc. is a FinTech software engineering firm based in Mountain View, California, founded in 2017. The company specializes in developing technologies that enable traders, developers, and fintech firms to create contract-based financial products. CoinAlpha is known for its open-source initiatives, including the Basket Protocol for Ethereum tokens and the Fund Protocol for fund administration. The company has also created Hummingbot, a leading open-source software for building market-making and arbitrage bots, which empowers users to manage token liquidity effectively. Additionally, CoinAlpha operates Hummingbot Miner, a liquidity mining platform that allows users to earn rewards by running market-making bots on specific trading pairs. The concept of liquidity mining was first introduced by CoinAlpha in a 2019 whitepaper. The founders bring extensive experience in investment banking and trading, complemented by engineering and product leadership backgrounds in notable Silicon Valley companies. CoinAlpha has successfully raised $14.8 million in funding from various investors.

Trunk

Series A in 2022
Founded in 2021, Trunk is a San Francisco-based company redefining large-scale software development. It offers a platform designed to enhance productivity by addressing the challenges that arise as software projects scale and become more complex.

Culdesac

Series A in 2022
Culdesac Inc. is a real estate development company based in San Francisco, California, focused on creating car-free residential neighborhoods in the United States. Established in 2018, the company's first project is in Tempe, Arizona, where it aims to build the first car-free neighborhood from scratch in the country. This innovative approach prioritizes pedestrian accessibility and eco-friendly living by eliminating parking spaces for residents while providing designated areas for visitors. The neighborhood will feature essential services such as grocery stores, coffee shops, coworking spaces, and market halls, allowing residents to engage with their community directly from their doorsteps. Culdesac's vision is to reimagine urban living by putting people before cars, fostering a sustainable and vibrant lifestyle.

CoinAlpha

Series A in 2021
CoinAlpha, Inc. is a FinTech software engineering firm based in Mountain View, California, founded in 2017. The company specializes in developing technologies that enable traders, developers, and fintech firms to create contract-based financial products. CoinAlpha is known for its open-source initiatives, including the Basket Protocol for Ethereum tokens and the Fund Protocol for fund administration. The company has also created Hummingbot, a leading open-source software for building market-making and arbitrage bots, which empowers users to manage token liquidity effectively. Additionally, CoinAlpha operates Hummingbot Miner, a liquidity mining platform that allows users to earn rewards by running market-making bots on specific trading pairs. The concept of liquidity mining was first introduced by CoinAlpha in a 2019 whitepaper. The founders bring extensive experience in investment banking and trading, complemented by engineering and product leadership backgrounds in notable Silicon Valley companies. CoinAlpha has successfully raised $14.8 million in funding from various investors.

EasyPost

Series A in 2020
EasyPost is a technology company that specializes in developing a shipping API designed to streamline logistics for eCommerce brands, fulfillment providers, and online marketplaces. Founded in 2012 and headquartered in San Francisco, California, EasyPost offers a comprehensive postage-as-a-service platform that allows users to purchase postage labels, check shipping rates, verify addresses, and track shipments across multiple carriers. The company's solutions cater to a diverse clientele, ranging from small and medium-sized businesses to large public companies. By simplifying the complexities of shipping logistics, EasyPost enhances the efficiency and affordability of shipping processes for its customers.

Raise Commercial Real Estate

Series A in 2020
Raise Commercial Real Estate, formerly known as HelloOffice, Inc., is a commercial real estate brokerage firm based in San Francisco, California, with additional offices in Los Angeles and Silicon Valley. Established in 2015, the company specializes in assisting startups and high-growth companies in finding suitable office spaces. Raise Commercial Real Estate offers a comprehensive range of services, including planning (financial analysis, legal, zoning, and site selection), buildout (workplace strategy, project management, and architecture), and operations (move coordination, furniture, office management, and lease administration). The company also provides document management and commute analysis services. By combining experienced brokers with user-friendly software, Raise Commercial Real Estate aims to streamline the process of securing commercial real estate for its clients.

Culdesac

Venture Round in 2019
Culdesac Inc. is a real estate development company based in San Francisco, California, focused on creating car-free residential neighborhoods in the United States. Established in 2018, the company's first project is in Tempe, Arizona, where it aims to build the first car-free neighborhood from scratch in the country. This innovative approach prioritizes pedestrian accessibility and eco-friendly living by eliminating parking spaces for residents while providing designated areas for visitors. The neighborhood will feature essential services such as grocery stores, coffee shops, coworking spaces, and market halls, allowing residents to engage with their community directly from their doorsteps. Culdesac's vision is to reimagine urban living by putting people before cars, fostering a sustainable and vibrant lifestyle.

Raise Commercial Real Estate

Seed Round in 2019
Raise Commercial Real Estate, formerly known as HelloOffice, Inc., is a commercial real estate brokerage firm based in San Francisco, California, with additional offices in Los Angeles and Silicon Valley. Established in 2015, the company specializes in assisting startups and high-growth companies in finding suitable office spaces. Raise Commercial Real Estate offers a comprehensive range of services, including planning (financial analysis, legal, zoning, and site selection), buildout (workplace strategy, project management, and architecture), and operations (move coordination, furniture, office management, and lease administration). The company also provides document management and commute analysis services. By combining experienced brokers with user-friendly software, Raise Commercial Real Estate aims to streamline the process of securing commercial real estate for its clients.

Heap

Series C in 2019
Heap Inc. is a company that develops an analytics infrastructure designed for online businesses, enabling them to capture and analyze customer interactions across web, mobile, and cloud platforms. Founded in 2012 and headquartered in San Francisco, California, Heap's solution automates the collection and organization of customer behavioral data, such as clicks, transactions, and form submissions, without requiring additional coding. This streamlined approach allows businesses to gain a comprehensive understanding of their users, facilitating informed decision-making and enhancing product development. Heap serves a diverse range of industries, including e-commerce, financial services, and SaaS, with over 6,000 clients that include notable companies across various sectors. The company is committed to empowering organizations to focus on insights and actions that drive business success.

Garten

Seed Round in 2018
Garten, Inc. is a health food company based in San Mateo, California, that specializes in delivering vegan, gluten-free, organic, and non-GMO food products to businesses and individuals, primarily in Silicon Valley. Founded in 2014 and originally named Oh My Green, the company rebranded in June 2020. Garten provides a variety of healthy office snacks, beverages, dairy products, and fresh produce, along with equipment to support its offerings. Additionally, it features a wellness application that promotes employee well-being across various dimensions, including nutrition, exercise, and emotional health. Garten's services are tailored to meet the specific needs of clients and include options for budget management and office stocking. The company's mission is to empower individuals to make healthier choices and lead fulfilling lives. Founder Michael Heinrich's passion for health and nutrition stems from his childhood experiences in Berlin, where his grandmother cultivated an organic garden and emphasized the importance of eating fresh, wholesome food.

EasyPost

Series A in 2018
EasyPost is a technology company that specializes in developing a shipping API designed to streamline logistics for eCommerce brands, fulfillment providers, and online marketplaces. Founded in 2012 and headquartered in San Francisco, California, EasyPost offers a comprehensive postage-as-a-service platform that allows users to purchase postage labels, check shipping rates, verify addresses, and track shipments across multiple carriers. The company's solutions cater to a diverse clientele, ranging from small and medium-sized businesses to large public companies. By simplifying the complexities of shipping logistics, EasyPost enhances the efficiency and affordability of shipping processes for its customers.

Skip Scooters

Seed Round in 2018
Skip Scooters operates shared electric scooters for reliable last-mile transportation. The company works with cities to ensure our fleets are operated with the support of the surrounding communities, and they stand behind their riders by providing vehicles, safety education, and training, and world-class support. The scooter rental company is based in San Francisco, California. It is formerly known by its Y Combinator codename, Waybots.

Rainforest QA

Series B in 2018
Rainforest QA offers a comprehensive testing platform for web and mobile apps. It combines human testers with algorithmic management, enabling efficient regression testing for continuous deployment. The platform uses generative AI to simplify test creation and maintenance, allowing developers from companies like Intuit and IBM to deploy bug-free software quickly.

Flexport

Series C in 2017
Flexport, established in 2013, is a San Francisco-based company specializing in global freight forwarding and customs brokerage services. It offers an online platform that simplifies and streamlines international trade for businesses. Flexport's services include customs clearance, freight transportation by ocean, air, and road, along with value-added services such as cargo insurance, warehousing, and trade finance. The company's user-friendly dashboard enables clients to understand, purchase, manage, and track these services in real-time, optimizing their supply chain and logistics operations.

Avametric

Series C in 2017
Avametric, Inc. is a San Francisco-based fashion software company specializing in cloth simulation technology for the apparel industry. Founded in 2012, the company creates digital garments that allow brands to produce 3D renderings of their clothing and accessories on customizable digital body models. This technology enables users to share their body size and shape measurements online, facilitating a virtual fitting room experience. Avametric's platform automates content creation and enhances retail and e-commerce sales tools, thereby improving efficiency in garment design and development. As of October 2018, Avametric operates as a subsidiary of Gerber Technology LLC.

Heap

Series B in 2017
Heap Inc. is a company that develops an analytics infrastructure designed for online businesses, enabling them to capture and analyze customer interactions across web, mobile, and cloud platforms. Founded in 2012 and headquartered in San Francisco, California, Heap's solution automates the collection and organization of customer behavioral data, such as clicks, transactions, and form submissions, without requiring additional coding. This streamlined approach allows businesses to gain a comprehensive understanding of their users, facilitating informed decision-making and enhancing product development. Heap serves a diverse range of industries, including e-commerce, financial services, and SaaS, with over 6,000 clients that include notable companies across various sectors. The company is committed to empowering organizations to focus on insights and actions that drive business success.

EasyPost

Series A in 2017
EasyPost is a technology company that specializes in developing a shipping API designed to streamline logistics for eCommerce brands, fulfillment providers, and online marketplaces. Founded in 2012 and headquartered in San Francisco, California, EasyPost offers a comprehensive postage-as-a-service platform that allows users to purchase postage labels, check shipping rates, verify addresses, and track shipments across multiple carriers. The company's solutions cater to a diverse clientele, ranging from small and medium-sized businesses to large public companies. By simplifying the complexities of shipping logistics, EasyPost enhances the efficiency and affordability of shipping processes for its customers.

Heap

Series A in 2016
Heap Inc. is a company that develops an analytics infrastructure designed for online businesses, enabling them to capture and analyze customer interactions across web, mobile, and cloud platforms. Founded in 2012 and headquartered in San Francisco, California, Heap's solution automates the collection and organization of customer behavioral data, such as clicks, transactions, and form submissions, without requiring additional coding. This streamlined approach allows businesses to gain a comprehensive understanding of their users, facilitating informed decision-making and enhancing product development. Heap serves a diverse range of industries, including e-commerce, financial services, and SaaS, with over 6,000 clients that include notable companies across various sectors. The company is committed to empowering organizations to focus on insights and actions that drive business success.

Flexport

Series A in 2015
Flexport, established in 2013, is a San Francisco-based company specializing in global freight forwarding and customs brokerage services. It offers an online platform that simplifies and streamlines international trade for businesses. Flexport's services include customs clearance, freight transportation by ocean, air, and road, along with value-added services such as cargo insurance, warehousing, and trade finance. The company's user-friendly dashboard enables clients to understand, purchase, manage, and track these services in real-time, optimizing their supply chain and logistics operations.

Egomotion

Seed Round in 2015
Egomotion Corp. is a San Francisco-based company that specializes in designing and developing innovative mobile applications. Founded in 2011, the company offers a range of products aimed at enhancing user experience through contextual awareness. Its flagship applications include Status, which displays user statuses before making a call; Agent, a tool that understands users' activities and shares this information with close friends and family while adjusting the phone's settings accordingly; and Trigger, an application that automates daily tasks to streamline user routines. Through these applications, Egomotion aims to provide practical solutions that simplify and enrich everyday life.

Rainforest QA

Venture Round in 2014
Rainforest QA offers a comprehensive testing platform for web and mobile apps. It combines human testers with algorithmic management, enabling efficient regression testing for continuous deployment. The platform uses generative AI to simplify test creation and maintenance, allowing developers from companies like Intuit and IBM to deploy bug-free software quickly.

Renzu

Convertible Note in 2014
Renzu, Inc. is a San Francisco-based company that specializes in application software for data analytics. Incorporated in 2014, Renzu develops a consumer data tracking platform that processes real-time data from millions of consumers worldwide. This platform empowers businesses to leverage consumer insights to enhance their product development and make informed decisions. As of the end of 2015, Renzu operates as a subsidiary of SurveyMonkey Inc., further extending its reach and capabilities in the data analytics sector.

Pushbullet

Seed Round in 2014
Pushbullet Inc. is a technology company based in San Francisco, California, that specializes in developing mobile applications designed to facilitate seamless communication between devices. Founded in 2013, Pushbullet enables users to send files, links, reminders, and checklists between their Android devices and computers quickly and securely. The applications allow users to view calls and texts on their computers and effortlessly transfer various types of information, thereby enhancing productivity and connectivity across devices. Pushbullet's services aim to bridge the gap between phones, tablets, and computers, allowing for a more integrated user experience.

Egomotion

Seed Round in 2014
Egomotion Corp. is a San Francisco-based company that specializes in designing and developing innovative mobile applications. Founded in 2011, the company offers a range of products aimed at enhancing user experience through contextual awareness. Its flagship applications include Status, which displays user statuses before making a call; Agent, a tool that understands users' activities and shares this information with close friends and family while adjusting the phone's settings accordingly; and Trigger, an application that automates daily tasks to streamline user routines. Through these applications, Egomotion aims to provide practical solutions that simplify and enrich everyday life.

Taplytics

Seed Round in 2014
Taplytics offers a SaaS customer engagement platform for enterprise brands. Its platform unifies digital customer journeys, product optimization, and marketing automation using AI-driven application personalization. This enables engineering and marketing teams to create robust customer experiences, optimize engagement, conversion, and revenue.

Flexport

Seed Round in 2014
Flexport, established in 2013, is a San Francisco-based company specializing in global freight forwarding and customs brokerage services. It offers an online platform that simplifies and streamlines international trade for businesses. Flexport's services include customs clearance, freight transportation by ocean, air, and road, along with value-added services such as cargo insurance, warehousing, and trade finance. The company's user-friendly dashboard enables clients to understand, purchase, manage, and track these services in real-time, optimizing their supply chain and logistics operations.

Summon

Venture Round in 2014
Summon is an on-demand transportation service operating in San Francisco that connects riders with taxis and vetted drivers through its mobile application. Users can easily request a ride by entering their credit or debit card information, which is used to pay for fares and tips after reaching their destination. The service emphasizes fair pricing for riders and transparent policies for drivers, enhancing the overall experience for both parties. Summon was inspired by a personal experience of its founder, who faced significant delays while waiting for public transportation, ultimately leading to the creation of a more efficient ride-hailing solution.

Avametric

Convertible Note in 2013
Avametric, Inc. is a San Francisco-based fashion software company specializing in cloth simulation technology for the apparel industry. Founded in 2012, the company creates digital garments that allow brands to produce 3D renderings of their clothing and accessories on customizable digital body models. This technology enables users to share their body size and shape measurements online, facilitating a virtual fitting room experience. Avametric's platform automates content creation and enhances retail and e-commerce sales tools, thereby improving efficiency in garment design and development. As of October 2018, Avametric operates as a subsidiary of Gerber Technology LLC.

Frontback

Convertible Note in 2013
Frontback is a mobile application based in San Francisco that allows users to capture photos from both the front and back cameras of their smartphones simultaneously. This innovative app combines these dual perspectives into a single image, enabling users to share their experiences more vividly. Users can take a selfie while also showcasing their surroundings, creating a unique visual narrative. The app includes features such as advanced gestures for switching between cameras, options to add captions and locations, and easy sharing capabilities across various social media platforms. By connecting with friends through the app and other social networks, users can enhance their social interactions and storytelling through photography.

BloomThat

Convertible Note in 2013
BloomThat is an on-demand flower delivery service founded in 2013 in San Francisco by David Bladow, Matthew Schwab, and Chad Powell. The company specializes in providing next and same-day delivery of handcrafted bouquets and curated goods, with prices starting around $32. By sourcing flowers directly from farms, BloomThat ensures high-quality products that celebrate life’s milestones and everyday moments. The service is currently available for delivery within an hour in the San Francisco Bay Area, New York, and Los Angeles, while also offering next-day delivery options across the United States.

Beep Networks

Convertible Note in 2013
Beep Networks develops and offers cloud-connected wireless sensors which can be used to track locations (GPS), temperature, moisture, pressure, altitude, and motion. It was founded in 2012 and is based in San Francisco, California, United States.

Heap

Seed Round in 2013
Heap Inc. is a company that develops an analytics infrastructure designed for online businesses, enabling them to capture and analyze customer interactions across web, mobile, and cloud platforms. Founded in 2012 and headquartered in San Francisco, California, Heap's solution automates the collection and organization of customer behavioral data, such as clicks, transactions, and form submissions, without requiring additional coding. This streamlined approach allows businesses to gain a comprehensive understanding of their users, facilitating informed decision-making and enhancing product development. Heap serves a diverse range of industries, including e-commerce, financial services, and SaaS, with over 6,000 clients that include notable companies across various sectors. The company is committed to empowering organizations to focus on insights and actions that drive business success.

Rainforest QA

Seed Round in 2012
Rainforest QA offers a comprehensive testing platform for web and mobile apps. It combines human testers with algorithmic management, enabling efficient regression testing for continuous deployment. The platform uses generative AI to simplify test creation and maintenance, allowing developers from companies like Intuit and IBM to deploy bug-free software quickly.

Apollo GraphQL

Seed Round in 2011
Apollo GraphQL provides an open-source GraphQL platform and commercial technologies that help teams build, test, and ship APIs across applications. The platform reduces boilerplate code, accelerates delivery by enabling frontend and mobile features to stay in sync with backend services, and supports scalable API development. Its Apollo GraphOS suite includes a self-service supergraph that links multiple backend services into a unified, scalable API, facilitating faster experimentation and deployment. The company serves major brands such as Netflix, Snap, and The New York Times, handling more than five trillion requests in 2023 and enabling personalized, omnichannel experiences. Based in San Francisco, Apollo GraphQL is used by developers to streamline API workflows across organizations.
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