# Sapphire Ventures: portfolio, investments and team

> Sapphire Ventures is a vc firm based in United States. 292 investments on record, 27 in the last 12 months, latest Oct 2026.

Source: https://millionrounds.com/fund/sapphire-ventures (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Sapphire Ventures

Last cheque observed Oct 2026; 292 cheques on record.

Email

Deploying now New fund $1.5B, Aug 2026 VC firm

Series A Series B Growth Enterprise Software Enterprise AI

Follow Sapphire Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fsapphire-ventures)

Deploying now

**73%** of best year **27** **cheques in 12 months**, 292 on record

Since the last cheque **9** days **00** hrs **00** min **00** sec

Median round **$75M** Cheque size, as they say **$3.0M – $60M** Rounds led **17 of 292** Sole investor **15 rounds** Exits **31 from the portfolio** Mostly in **United States, 80%**

Pitch Sapphire Ventures

## Sapphire Ventures highlights

- 01 27 cheques in the last 12 months
- 02 Mostly Series C and Series D: 46% of its rounds
- 03 Sole investor in 15 rounds, median $20M
- 04 31 exits from the portfolio

## What they do

> Enterprise AI VC From their own website

- **Type:** VC firm
- **Cheque size:** $3.0M – $60M as they say
- **Stages:** Series A Series B Growth
- **Sectors:** Enterprise Software Enterprise AI
- **Based in:** Menlo Park, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **292 appearances**

- **2026** 23 rounds
- **Oct** **[Tractian](https://millionrounds.com/company/tractian)** Series D · BR · Google News search **$130M** *Led*
- **Sept** **[EliseAI](https://millionrounds.com/company/eliseai)** Growth · US · TechCrunch **$350M** With 6 others
- **Sept** **[Temporal](https://millionrounds.com/company/temporal)** Series E · US · Crunchbase News **$550M** With 11 others
- **Sept** **[Harvey](https://millionrounds.com/company/harvey)** Growth · US · TechCrunch **$550M** With 15 others
- **Sept** **[Gimlet Labs](https://millionrounds.com/company/gimlet-labs)** Series B · US **$300M** With 4 others
- **Aug** **[Horizon3](https://millionrounds.com/company/horizon3)** Series E · US · TechCrunch **$250M** With 11 others
- **Jul** **[PlayVS](https://millionrounds.com/company/playvs)** Venture · US **$4.0M** With 4 others
- **Jun** **Cyera** Growth · US · TechCrunch **$600M** With 13 others
- **Jun** **[Current](https://millionrounds.com/company/current)** Series E · US **$80M** With 3 others
- **Jun** **[Warp](https://millionrounds.com/company/warp)** Series B · US **$18M** With 4 others
- **May** **[Mercury](https://millionrounds.com/company/mercury)** Series D · US · Crunchbase News **$200M** With 7 others
- **Apr** **[Hightouch](https://millionrounds.com/company/hightouch)** Growth · US · Ventureburn **$150M** With 7 others
- **Apr** **[Hightouch](https://millionrounds.com/company/hightouch)** Series D · US **$10M** With 4 others
- **Mar** **[Upvest](https://millionrounds.com/company/upvest)** Growth · DE · TechStartups **$125M** *Led*
- **Mar** **[Upvest](https://millionrounds.com/company/upvest)** Series D · DE **$90M** With 4 others
- **Mar** **[WorkOS](https://millionrounds.com/company/workos)** Series C · US **$100M** With 4 others
- **Feb** **[Temporal](https://millionrounds.com/company/temporal)** Series D · US · TechStartups **$300M** With 5 others
- **Feb** **[GitGuardian](https://millionrounds.com/company/gitguardian)** Series C · FR · TechStartups **$50M** With 7 others
- **Feb** **[Bretton AI](https://millionrounds.com/company/bretton-ai)** Series B · US · Ventureburn **$75M** *Led*
- **Jan** **[Defense Unicorns](https://millionrounds.com/company/defense-unicorns)** Series B · US · TechStartups **$136M** With 7 others
- **Jan** **[Rain](https://millionrounds.com/company/rain)** Series C · US · Harlem Capital **$250M** With 9 others
- **Jan** **Cyera** Series F · IL · TechCrunch **$400M** With 10 others
- **Jan** **[Onebrief](https://millionrounds.com/company/onebrief)** Series D · US · Crunchbase News **$200M** With 5 others
- **2025** 29 rounds
- **Dec** **[Jeeva AI](https://millionrounds.com/company/jeeva-ai)** Seed · US · TechStartups **$9.0M** *Led*
- **Dec** **[Fastly](https://millionrounds.com/company/fastly)** Debt · US **$160M** With 4 others
- **Dec** **[Mercury](https://millionrounds.com/company/mercury)** Venture · US **Undisclosed** With 4 others
- **Nov** **[Lucky Energy](https://millionrounds.com/company/lucky-energy)** Series B · US **$25M** With 2 others
- **Oct** **[LangChain](https://millionrounds.com/company/langchain)** Series B · US · TechCrunch **$125M** With 7 others
- **Oct** **[Anrok](https://millionrounds.com/company/anrok)** Series C · US · TechStartups **$55M** With 4 others
- **Oct** **[Perfumeo](https://millionrounds.com/company/perfumeo)** Series D · US **$106M** With 3 others
- **Sept** **[Rain](https://millionrounds.com/company/rain)** Series B · US · TechStartups **$58M** *Led*
- **Sept** **[WeTravel](https://millionrounds.com/company/wetravel)** Series C · US **$92M** With 3 others
- **Sept** **[Unmind](https://millionrounds.com/company/unmind)** Debt · GB **$26M** With 3 others
- **Sept** **[Pendo](https://millionrounds.com/company/pendo)** Debt · US **$100M** With 5 others
- **Sept** **[Valiscane](https://millionrounds.com/company/valiscane)** Seed · US **$1.5M** Sole investor
- **Aug** **[EliseAI](https://millionrounds.com/company/eliseai)** Series E · US · TechStartups **$250M** With 4 others
- **Aug** **[Omnichent](https://millionrounds.com/company/omnichent)** Seed · US **$1.8M** With 2 others
- **Aug** **[Blue J](https://millionrounds.com/company/blue-j)** Series D · CA **$122M** With 8 others
- **Jul** **[Hightouch](https://millionrounds.com/company/hightouch)** Series C · US **$10M** With 4 others
- **Jul** **[Unmind](https://millionrounds.com/company/unmind)** Series C · GB **$35M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **8 named**

CK **Cecilia Kwan** Executive Officer, Promoter i Filing they signed

JD **Jayendra Das** Managing Member i Filing they signed

MY **Martin Y. Laidlaw** Director i Filing they signed

NN **Nino Nikola Marakovic** Executive Officer, Director i Filing they signed

RS **Rachel Stock** Executive Officer, Promoter i Filing they signed

RL **Richard Lawson, Jr.** Executive Officer, Promoter i Filing they signed

SY **Shelton Y. Swei** Managing Member i Filing they signed

XW **Xu Wang** Manager i Filing they signed

We also hold **72** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**8+** funds on file numbered funds in its name

Who backs their funds

## 1 LP on record in Sapphire Ventures's funds

- **Committed:** $125M
- **Funds:** 1
- **Vintages:** 2025

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Jun 2025.

- [**California State Teachers Retirement System** 1 fund *$125M*](https://millionrounds.com/fund/california-state-teachers-retirement-system) Fund Vintage Committed Sapphire Emerging Ventures VII 2025 $125M

Funds they back

## 1 fund commitment on record

- **Managers:** 1

Every fund on record that it has committed money to, and the managers who invest it. Source: an LP list.

Managers it backs most

- [Felix Capital 1 fund](https://millionrounds.com/fund/felix-capital)

Most recent commitments

- [Felix Capital](https://millionrounds.com/fund/felix-capital)

## What they claim to have backed

From their own portfolio page (on their website)

**60** of 60 we have independently watched raise

[23andme](https://millionrounds.com/company/23andme)[6sense](https://millionrounds.com/company/6sense)[Activtrak](https://millionrounds.com/company/activtrak)[Adverity](https://millionrounds.com/company/adverity)[Aepona](https://millionrounds.com/company/aepona)[Alation](https://millionrounds.com/company/alation)[Alfresco](https://millionrounds.com/company/alfresco)[Allyo](https://millionrounds.com/company/allyo)[Anrok](https://millionrounds.com/company/anrok)[Apigee](https://millionrounds.com/company/apigee)[Asksage](https://millionrounds.com/company/ask-sage)[Auth0](https://millionrounds.com/company/auth0)[Avidxchange](https://millionrounds.com/company/avidxchange)[Baseten](https://millionrounds.com/company/baseten)[Betterup](https://millionrounds.com/company/betterup)[Biocatch](https://millionrounds.com/company/biocatch)[Blackducksoftware](https://millionrounds.com/company/black-duck-software)[Blockdaemon](https://millionrounds.com/company/blockdaemon)[Bluej](https://millionrounds.com/company/blue-j)[Braze](https://millionrounds.com/company/braze)[Bretton](https://millionrounds.com/company/bretton-ai)[Brightfield](https://millionrounds.com/company/brightfield)[Captivateiq](https://millionrounds.com/company/captivateiq)[Catchpoint](https://millionrounds.com/company/catchpoint)[Cazoo](https://millionrounds.com/company/cazoo)[Chaidiscovery](https://millionrounds.com/company/chai-discovery)[Chargebee](https://millionrounds.com/company/chargebee)[Circleci](https://millionrounds.com/company/circleci)[Clari](https://millionrounds.com/company/clari)[Cohesity](https://millionrounds.com/company/cohesity)[Collectly](https://millionrounds.com/company/collectly)[Constructor](https://millionrounds.com/company/constructor)[Contentful](https://millionrounds.com/company/contentful)[Control4](https://millionrounds.com/company/control4)[Convercent](https://millionrounds.com/company/convercent)[Corp](https://millionrounds.com/company/kaltura)[Creatio](https://millionrounds.com/company/creatio)[Criteo](https://millionrounds.com/company/criteo)[Cultureamp](https://millionrounds.com/company/culture-amp)[Currencycloud](https://millionrounds.com/company/currencycloud)[Current](https://millionrounds.com/company/current)[Cypress](https://millionrounds.com/company/cypress-io)[Datarobot](https://millionrounds.com/company/datarobot)[Defenseunicorns](https://millionrounds.com/company/defense-unicorns)[Degreed](https://millionrounds.com/company/degreed)[Docusign](https://millionrounds.com/company/docusign)[Dremio](https://millionrounds.com/company/dremio)[Elevenlabs](https://millionrounds.com/company/elevenlabs)[Eliseai](https://millionrounds.com/company/eliseai)[Exabeam](https://millionrounds.com/company/exabeam)[Falconx](https://millionrounds.com/company/falconx)[Feedzai](https://millionrounds.com/company/feedzai)[Fitbit](https://millionrounds.com/company/fitbit)[Five9](https://millionrounds.com/company/five9)[Floqast](https://millionrounds.com/company/floqast)[Gamma](https://millionrounds.com/company/gamma)[Gimletlabs](https://millionrounds.com/company/gimlet-labs)[Gitguardian](https://millionrounds.com/company/gitguardian)[Glean](https://millionrounds.com/company/glean)[Gorgias](https://millionrounds.com/company/gorgias) and 124 more

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **31 in all**

**[Fitbit](https://millionrounds.com/company/fitbit)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **Undisclosed** Jan 2021

**[Looker](https://millionrounds.com/company/looker)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **Undisclosed** Jun 2019

**[LinkedIn](https://millionrounds.com/company/linkedin)** Bought by [Microsoft](https://millionrounds.com/fund/microsoft) **$26B** Dec 2016

**[Apigee](https://millionrounds.com/company/apigee)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **$625M** Sept 2016

**[Zend Technologies](https://millionrounds.com/company/zend-technologies)** Bought by Rogue Wave Software **Undisclosed** Oct 2015

**[Ticketfly](https://millionrounds.com/company/ticketfly)** Bought by Pandora Media **$450M** Oct 2015

**[Vendavo](https://millionrounds.com/company/vendavo)** Bought by [Francisco Partners](https://millionrounds.com/fund/francisco-partners) **Undisclosed** Oct 2014

**[Jaspersoft](https://millionrounds.com/company/jaspersoft)** Bought by TIBCO Software Inc. **$185M** Apr 2014

**[PayScale](https://millionrounds.com/company/payscale)** Bought by [Warburg Pincus](https://millionrounds.com/fund/warburg-pincus) **$100M** Apr 2014

**[Violin Memory](https://millionrounds.com/company/violin-memory)** Listed **Undisclosed** Aug 2013

**[Tremor Video](https://millionrounds.com/company/tremor-video)** Listed **$75M** Jun 2013

**[Apriso](https://millionrounds.com/company/apriso)** Bought by [Dassault Systemes](https://millionrounds.com/fund/dassault-systemes) **$205M** May 2013

**[Aepona](https://millionrounds.com/company/aepona)** Bought by [Intel](https://millionrounds.com/fund/intel) **$130M** Apr 2013

**[Marin Software](https://millionrounds.com/company/marin-software)** Listed **$105M** Mar 2013

**[Datria Systems](https://millionrounds.com/company/datria-systems)** Bought by Intelligrated **Undisclosed** Mar 2013

**[Socialtext](https://millionrounds.com/company/socialtext)** Bought by Peoplefluent **Undisclosed** May 2012

**[LogLogic](https://millionrounds.com/company/loglogic)** Bought by TIBCO Software Inc. **$130M** Apr 2012

**[Endeca](https://millionrounds.com/company/endeca)** Bought by [Oracle Corporation](https://millionrounds.com/fund/oracle) **Undisclosed** Oct 2011

**[Qumu](https://millionrounds.com/company/qumu)** Bought by [Rimage](https://millionrounds.com/fund/rimage) **$52M** Oct 2011

**[Right Hemisphere](https://millionrounds.com/company/right-hemisphere)** Bought by [SAP](https://millionrounds.com/fund/sap) **Undisclosed** Sept 2011

The latest 20 here. An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$1.5B**

raised in Aug 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Series A Series B Growth

Median round joined **$75M** the round, not its cheque Alone, median **$20M**

Led 17 of 292 rounds **6%**

- **Said size:** $3.0M – $60M
- **Sole investor:** 15 rounds
- **Last cheque:** Oct 2026
- **Exits:** 31 from the portfolio

Rounds by stage said on their site

- Series C *59*
- Series D *54*
- Venture *46*
- Series B said *37*
- Series E *32*
- Series A said *17*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [SAP Ventures](https://millionrounds.com/fund/sap-ventures) 73
- [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) 32
- [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures) 25
- [General Catalyst](https://millionrounds.com/fund/general-catalyst) 23
- [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 21
- [Y Combinator](https://millionrounds.com/fund/y-combinator) 19

**Pitching Sapphire Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

Add to your CRM *→*

## Who they invest alongside

The investors most often in the same rounds as Sapphire Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**SAP Ventures** VC firm **73** rounds together](https://millionrounds.com/fund/sap-ventures)[**Lightspeed Venture Partners** VC firm **32** rounds together](https://millionrounds.com/fund/lightspeed-venture-partners)[**Salesforce Ventures** Corporate VC **25** rounds together](https://millionrounds.com/fund/salesforce-ventures)[**General Catalyst** VC firm **23** rounds together](https://millionrounds.com/fund/general-catalyst)[**Sequoia Capital** VC firm **21** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Y Combinator** Accelerator **19** rounds together](https://millionrounds.com/fund/y-combinator)[**Intel Capital** Corporate VC **16** rounds together](https://millionrounds.com/fund/intel-capital)[**Bain Capital Ventures** VC firm **15** rounds together](https://millionrounds.com/fund/bain-capital-ventures)[**Accel** VC firm **14** rounds together](https://millionrounds.com/fund/accel)[**Battery Ventures** VC firm **14** rounds together](https://millionrounds.com/fund/battery-ventures)[**New Enterprise Associates** VC firm **14** rounds together](https://millionrounds.com/fund/new-enterprise-associates)[**Norwest Venture Partners** VC firm **14** rounds together](https://millionrounds.com/fund/norwest)

## Recently backed

The latest companies Sapphire Ventures put money into.

[**Tractian** $130M · Oct 2026](https://millionrounds.com/company/tractian)[**EliseAI** $350M · Sept 2026](https://millionrounds.com/company/eliseai)[**Temporal** $550M · Sept 2026](https://millionrounds.com/company/temporal)[**Harvey** $550M · Sept 2026](https://millionrounds.com/company/harvey)[**Gimlet Labs** $300M · Sept 2026](https://millionrounds.com/company/gimlet-labs)[**Horizon3** $250M · Aug 2026](https://millionrounds.com/company/horizon3)

## On podcasts

6 episodes naming Sapphire Ventures in the title, and 4 more that mention it.

- [Equity](https://millionrounds.com/podcasts/equity) 6 Aug 2025 · 26 min Figma's IPO success is 'a little bit of a meme stock,' says Sapphire Ventures' Jai Das With [Jai Das](https://millionrounds.com/person/jai-das) Mentions [Sapphire Ventures](https://millionrounds.com/fund/sapphire-ventures) Apple Podcasts
- [The Official SaaStr Podcast](https://millionrounds.com/podcasts/saastr) 6 Mar 2024 · 25 min SaaStr 728: How to Double Your Magic Number and Increase Your Go-to-Market Efficiency with Sapphire Ventures Mentions [Sapphire Ventures](https://millionrounds.com/fund/sapphire-ventures)[Jane Lee](https://millionrounds.com/person/jane-lee-2)[Karan Singh](https://millionrounds.com/person/karan-singh) *+1* Apple PodcastsShow page
- [The Official SaaStr Podcast](https://millionrounds.com/podcasts/saastr) 31 Dec 2020 · 26 min SaaStr 414: How to Leverage the Cloud Giants to Scale to 100 Million ARR and Beyond with Snowflake, CrowdStrike, Sumo Logic, and Sapphire Ventures Mentions [Sapphire Ventures](https://millionrounds.com/fund/sapphire-ventures)[Rico Mallozzi](https://millionrounds.com/person/rico-mallozzi) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 1 May 2017 · 28 min 20VC: Explosion of First Time Funds, Only 1 Mega Fund Raised: What The Heck Happened in Q1 Venture Markets with Beezer Clarkson, Managing Director @ Sapphire Ventures Mentions [Sapphire Ventures](https://millionrounds.com/fund/sapphire-ventures)[Omidyar Network](https://millionrounds.com/fund/omidyar-network) Apple PodcastsShow page
- [Origins: Inside Venture Capital](https://millionrounds.com/podcasts/origins-openlp) 28 Mar 2017 · 43 min Winter Mead, Sapphire Ventures With [Winter Mead](https://millionrounds.com/person/winter-mead) Mentions [Sapphire Ventures](https://millionrounds.com/fund/sapphire-ventures) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 24 Oct 2016 · 29 min 20VC: More $ Raised This Year Than The Past 15, War Chests Being Built & Decline In First Time Funds: So What The Heck Is Happening In Venture with Beezer Clarkson, Managing Director @ Sapphire Ventures Mentions [Sapphire Ventures](https://millionrounds.com/fund/sapphire-ventures)[Omidyar Network](https://millionrounds.com/fund/omidyar-network) Apple PodcastsShow page

### Mentioned in

- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 26 Feb 2026 · 5 min Investor Stories 462: Study the Masters, Develop Your Own Eye, and Stop Outsourcing Conviction (Wang, Mohapatra, Banks) Apple PodcastsShow page
- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 29 Jan 2026 · 7 min Investor Stories 456: Inside Visionary Leadership: Platform Leverage, Founder Adaptability, and Market Timing (Rizik, Wang, Wallach) Apple PodcastsShow page
- [Origins: Inside Venture Capital](https://millionrounds.com/podcasts/origins-openlp) 16 Dec 2025 · 8 min Minisode: The Speed of Iteration in Venture Apple PodcastsShow page
- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 11 Dec 2025 · 8 min Investor Stories 446: What Experience Teaches Investors: When to Trust Conviction, How to Read Founders, and Why Coachability Matters (Rizik, Wang, Agarwal) Apple PodcastsShow page

## Quick answers about Sapphire Ventures

### What does Sapphire Ventures invest in?

Sapphire Ventures invests most often at Series C and Series D (46% of the rounds on record), in sectors such as Enterprise Software and Enterprise AI.

### How active is Sapphire Ventures?

292 investments on record, 27 of them in the last 12 months, and it led 17. The most recent was in Oct 2026.

### What has Sapphire Ventures invested in recently?

Its most recent investments on record: Tractian (Series D, Oct 2026), EliseAI (Growth, Sept 2026) and Temporal (Series E, Sept 2026).

### How big are Sapphire Ventures's cheques?

The median round it joins is $75M. It says it writes cheques of $3.0M to $60M.

### Does Sapphire Ventures lead rounds?

Sometimes: it led 17 of its 292 investments on record (6%).

### Where does Sapphire Ventures invest?

Most of the companies it backs are in the United States (80%), Germany (5%) and the United Kingdom (5%).

### Is Sapphire Ventures investing now?

Yes: it is actively investing, with 27 investments in the last 12 months.

### Who does Sapphire Ventures invest alongside?

Most often SAP Ventures (73 rounds together), Lightspeed Venture Partners (32 rounds together) and Salesforce Ventures (25 rounds together).

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