# Initialized Capital Portfolio Map 2026: 120 Startups by Sector > Initialized Capital's portfolio mapped: 120 startups it has backed, in 12 sectors from AI, Web3 & Crypto and Fintech on. Source: https://millionrounds.com/portfolio-maps/initialized-capital-portfolio-map (Millionrounds; every figure on the page links to its filing or article) ## AI 30 - [Cohere](https://millionrounds.com/company/cohere) - [Cruise](https://millionrounds.com/company/cruise) - [Atoms](https://millionrounds.com/company/atoms) - [Valar Atomics](https://millionrounds.com/company/valar-atomics) - [Vicarious](https://millionrounds.com/company/vicarious) - [Standard Cognition](https://millionrounds.com/company/standard-cognition) - [PermitFlow](https://millionrounds.com/company/permitflow) - [Sabi](https://millionrounds.com/company/sabi) - [WorkRamp](https://millionrounds.com/company/workramp) - [Braid](https://millionrounds.com/company/braid) - [Pano AI](https://millionrounds.com/company/pano-ai) - [Weave](https://millionrounds.com/company/weave) - [Greptile](https://millionrounds.com/company/greptile) - [Paperspace](https://millionrounds.com/company/paperspace) - [*O* Orbio](https://millionrounds.com/company/orbio) - [Clockwork](https://millionrounds.com/company/clockwork) - [MEDIVIS](https://millionrounds.com/company/medivis) - [Alix](https://millionrounds.com/company/alix) - [Guide Labs](https://millionrounds.com/company/guide-labs) - [Alien](https://millionrounds.com/company/alien) - [Rosebud](https://millionrounds.com/company/rosebud) - [*H* Handoff](https://millionrounds.com/company/handoff) - [Parcha AI](https://millionrounds.com/company/parcha-ai) - [Glass Health](https://millionrounds.com/company/glass-health) +6 more ## Web3 & Crypto 15 - [Ava Labs](https://millionrounds.com/company/ava-labs) - [TRM Labs](https://millionrounds.com/company/trm-labs) - [Ping](https://millionrounds.com/company/ping) - [*K* KNX](https://millionrounds.com/company/knx) - [*T* TDE](https://millionrounds.com/company/tde) - [*BT* Bison Trails](https://millionrounds.com/company/bison-trails) - [Mino Games](https://millionrounds.com/company/mino-games) - [Azura](https://millionrounds.com/company/azura) - [Satsuma](https://millionrounds.com/company/satsuma) - [Sparkswap](https://millionrounds.com/company/sparkswap) - [*QC* Quorum Control](https://millionrounds.com/company/quorum-control) - [Synquote](https://millionrounds.com/company/synquote) - [*D* DDEX](https://millionrounds.com/company/ddex) - [CoinAlpha, Inc.](https://millionrounds.com/company/coinalpha-inc) - [HackerNoon](https://millionrounds.com/company/hackernoon) ## Fintech 13 - [Long-Term Stock Exchange](https://millionrounds.com/company/long-term-stock-exchange) - [True Link Financial](https://millionrounds.com/company/true-link-financial) - [Runway Financial](https://millionrounds.com/company/runway-financial) - [Routefusion](https://millionrounds.com/company/routefusion) - [Landed](https://millionrounds.com/company/landed) - [Caliza](https://millionrounds.com/company/caliza) - [DeepNight](https://millionrounds.com/company/deepnight) - [TANDA](https://millionrounds.com/company/tanda) - [PlateIQ](https://millionrounds.com/company/plateiq) - [SlidePay](https://millionrounds.com/company/slidepay) - [*D* Digit](https://millionrounds.com/company/digit) - [RealCrowd](https://millionrounds.com/company/realcrowd) - [HaulPay](https://millionrounds.com/company/haulpay) ## Big Data & Analytics 10 - [Heap](https://millionrounds.com/company/heap) - [Rescale](https://millionrounds.com/company/rescale) - [Vibe Bio](https://millionrounds.com/company/vibe-bio) - [Insight Data Science](https://millionrounds.com/company/insight-data-science) - [Robocurve](https://millionrounds.com/company/robocurve) - [*N* Narrator](https://millionrounds.com/company/narrator) - [Taplytics](https://millionrounds.com/company/taplytics) - [Chartable](https://millionrounds.com/company/chartable) - [Framed Data](https://millionrounds.com/company/framed-data) - [Picogrid](https://millionrounds.com/company/picogrid) ## Healthtech 8 - [Truepill](https://millionrounds.com/company/truepill) - [Curio](https://millionrounds.com/company/curio) - [Bodyport](https://millionrounds.com/company/bodyport) - [Papa](https://millionrounds.com/company/papa) - [Simple HealthKit](https://millionrounds.com/company/simple-healthkit) - [Mable (Neurolytic Healthcare)](https://millionrounds.com/company/mable-neurolytic-healthcare) - [Vetcove](https://millionrounds.com/company/vetcove) - [Bristle](https://millionrounds.com/company/bristle) ## IT Services 7 - [*ST* Sentropy Technologies](https://millionrounds.com/company/sentropy-technologies) - [Dyspatch](https://millionrounds.com/company/dyspatch) - [Zentail](https://millionrounds.com/company/zentail) - [Pushbullet](https://millionrounds.com/company/pushbullet) - [Buttercoin](https://millionrounds.com/company/buttercoin) - [*PN* Perceptual Networks](https://millionrounds.com/company/perceptual-networks) - [NewHive](https://millionrounds.com/company/newhive) ## Internet 7 - [Instacart](https://millionrounds.com/company/instacart) - [*S* Secret](https://millionrounds.com/company/secret) - [Cleanly](https://millionrounds.com/company/cleanly) - [Creative Market](https://millionrounds.com/company/creative-market) - [Girlboss](https://millionrounds.com/company/girlboss) - [Knowable](https://millionrounds.com/company/knowable) - [Kicksend](https://millionrounds.com/company/kicksend) ## Advertising & Adtech 7 - [Lob](https://millionrounds.com/company/lob) - [*S* Survata](https://millionrounds.com/company/survata) - [AdQuick](https://millionrounds.com/company/adquick) - [Upwave](https://millionrounds.com/company/upwave) - [Polis](https://millionrounds.com/company/polis) - [Her](https://millionrounds.com/company/her) - [Monogram](https://millionrounds.com/company/monogram) ## Logistics 6 - [Flexport](https://millionrounds.com/company/flexport) - [Orderful](https://millionrounds.com/company/orderful) - [*V* Voyage](https://millionrounds.com/company/voyage) - [EasyPost](https://millionrounds.com/company/easypost) - [Terminal49](https://millionrounds.com/company/terminal49) - [Bellhop](https://millionrounds.com/company/bellhop) ## Aerospace & Space 6 - [Albedo](https://millionrounds.com/company/albedo) - [Beyond Aero](https://millionrounds.com/company/beyond-aero) - [Star Catcher](https://millionrounds.com/company/star-catcher) - [*HA* Hop Aero](https://millionrounds.com/company/hop-aero) - [Kayhan Space](https://millionrounds.com/company/kayhan-space) - [Spaceium](https://millionrounds.com/company/spaceium) ## Consumer Apps 6 - [Mast Mobile](https://millionrounds.com/company/mast-mobile) - [Hey](https://millionrounds.com/company/hey) - [Cron](https://millionrounds.com/company/cron) - [*G* Gloria](https://millionrounds.com/company/gloria) - [Kash](https://millionrounds.com/company/kash) - [Status](https://millionrounds.com/company/status) ## Enterprise Software 5 - [Arena](https://millionrounds.com/company/arena) - [TigerEye](https://millionrounds.com/company/tigereye) - [Outbound.io](https://millionrounds.com/company/outbound-io) - [Docucharm](https://millionrounds.com/company/docucharm) - [NanoVMs](https://millionrounds.com/company/nanovms) ## Segment by segment ### AI 30 startups · $12B raised - [**Cohere**](https://millionrounds.com/company/cohere) Cohere is a Canadian multinational artificial intelligence company founded in 2019, specializing in foundational large language mo Canada $5.6B - [**Cruise**](https://millionrounds.com/company/cruise) United States $2.0B - [**Atoms**](https://millionrounds.com/company/atoms) United States $1.7B - [**Valar Atomics**](https://millionrounds.com/company/valar-atomics) Valar Atomics is a U.S.-based advanced nuclear energy startup founded in 2023 and headquartered in El Segundo, California. United States $1.6B - [**Vicarious**](https://millionrounds.com/company/vicarious) Vicarious is an artificial intelligence company that uses the computational principles of the brain to develop general intelligence. United States $122M - [**Standard Cognition**](https://millionrounds.com/company/standard-cognition) Checkout Technologies creates AI powered technologies to reshape and enhance the relationship between physical retailers and shoppers. United States $86M - [**PermitFlow**](https://millionrounds.com/company/permitflow) PermitFlow is an AI-powered pre-construction platform that automates the construction permitting lifecycle for builders, developer United States $54M - [**Sabi**](https://millionrounds.com/company/sabi) SABI is a software company that offers business consultancy, smart home integration, and web application development services. United States $50M ### Web3 & Crypto 15 startups · $465M raised - [**Ava Labs**](https://millionrounds.com/company/ava-labs) Ava Labs is a technology company based in New York City, specializing in blockchain innovation and the development of digital asse United States $230M - [**TRM Labs**](https://millionrounds.com/company/trm-labs) TRM Labs is a blockchain intelligence company based in San Francisco, founded in 2018. United States $74M - [**Ping**](https://millionrounds.com/company/ping) Learn more about PING&s latest clubs including the G440 Family, i530 & i240 Irons, Scottsdale Putters, and more. United States $33M - [*K* **KNX**](https://millionrounds.com/company/knx) China $30M - [*T* **TDE**](https://millionrounds.com/company/tde) - $28M - [*BT* **Bison Trails**](https://millionrounds.com/company/bison-trails) United States $26M - [**Mino Games**](https://millionrounds.com/company/mino-games) Mino Games, based in Montreal, Quebec, is a prominent Canadian mobile gaming studio founded in 2011 by Josh Buckley and Sasha MacKinnon. United States $20M - [**Azura**](https://millionrounds.com/company/azura) Azura is an onchain trading platform that simplifies decentralized finance (DeFi) trading. United States $6.9M ### Fintech 13 startups · $197M raised - [**Long-Term Stock Exchange**](https://millionrounds.com/company/long-term-stock-exchange) The Long-Term Stock Exchange designs an SEC-regulated national securities exchange that aligns great companies and long-term investors. United States $50M - [**True Link Financial**](https://millionrounds.com/company/true-link-financial) True Link is a diversified financial services firm dedicated to providing services for at-risk demographics such as the elderly an United States $42M - [**Runway Financial**](https://millionrounds.com/company/runway-financial) Runway is a SaaS company that offers a planning platform that allows businesses to create, manage, and share financial models and plans. United States $28M - [**Routefusion**](https://millionrounds.com/company/routefusion) Routefusion is a financial infrastructure provider based in Austin, Texas, focused on cross-border payments and global banking-as- United States $27M - [**Landed**](https://millionrounds.com/company/landed) Landed helps essential professionals buy homes and build financial security near the communities they serve. United States $20M - [**Caliza**](https://millionrounds.com/company/caliza) Caliza Financial Technologies, Inc., commonly known as Caliza, is a global fintech company based in São Paulo, Brazil, with a corp United States $8.5M - [**DeepNight**](https://millionrounds.com/company/deepnight) Deepnight Inc, based in San Francisco, is a defense and artificial intelligence startup founded in 2023 by former Google engineers United States $5.5M - [**TANDA**](https://millionrounds.com/company/tanda) TANDA is a fintech company that makes financial security accessible to everyone through lending and savings circles. United States $4.5M ### Big Data & Analytics 10 startups · $421M raised - [**Heap**](https://millionrounds.com/company/heap) Heap is a platform that provides analytics infrastructure to reduce the annoying parts of user analytics. United States $205M - [**Rescale**](https://millionrounds.com/company/rescale) Rescale is a cloud simulation platform that enables research scientists and engineers to build, compute, analyze, and scale simulations. United States $167M - [**Vibe Bio**](https://millionrounds.com/company/vibe-bio) Vibe Bio is a community of patients, scientists, and partners committed to identifying, funding, and developing promising treatments. United States $12M - [**Insight Data Science**](https://millionrounds.com/company/insight-data-science) Insight Data Science is an intensive seven week post-doctoral training fellowship bridging the gap between academia and data science. United States $11M - [**Robocurve**](https://millionrounds.com/company/robocurve) Robocurve is a Public Benefit Corporation forecasting physical automation to help society understand the pace of robotic progress. United States $10M - [*N* **Narrator**](https://millionrounds.com/company/narrator) Integrated voice services ecosystem/platform - $6.2M - [**Taplytics**](https://millionrounds.com/company/taplytics) Taplytics is a customer experience automation platform that helps product and development teams enhance the customer journey throu United States $5.0M - [**Chartable**](https://millionrounds.com/company/chartable) Chartable builds world-class tools for the podcast industry, starting with podcast analytics for creators. - $2.3M ### Healthtech 8 startups · $207M raised - [**Truepill**](https://millionrounds.com/company/truepill) The FuzeRx pharmacy services business integrates Dispensing, Access+ hub services, API connectivity, and white-labeling into a com United States $155M - [**Curio**](https://millionrounds.com/company/curio) Curio is a game studio that specializes in blockchain-based, on-chain games. United States $14M - [**Bodyport**](https://millionrounds.com/company/bodyport) Bodyport is a San Francisco-based digital therapeutics and health technology company founded in 2014. United States $11M - [**Papa**](https://millionrounds.com/company/papa) Papa is a human care network and family care platform based in Miami, Florida. United States $10M - [**Simple HealthKit**](https://millionrounds.com/company/simple-healthkit) Simple HealthKit is a provider of healthcare services for education, retail, payers and providers. United States $8.0M - [**Mable (Neurolytic Healthcare)**](https://millionrounds.com/company/mable-neurolytic-healthcare) Mable Health is a Canadian company focused on mobility care and musculoskeletal health. United Kingdom $3.2M - [**Vetcove**](https://millionrounds.com/company/vetcove) Vetcove is a B2B e-commerce and mobile platform focused on improving the animal health supply chain. United States $3.0M - [**Bristle**](https://millionrounds.com/company/bristle) Bristle helps you measure, understand, and improve your oral health. United States $3.0M ### IT Services 7 startups · $28M raised - [*ST* **Sentropy Technologies**](https://millionrounds.com/company/sentropy-technologies) Sentropy is a machine learning-powered tools to protect digital communities from hate and harassment. - $13M - [**Dyspatch**](https://millionrounds.com/company/dyspatch) Dyspatch is a cloud-based email production and content management platform that simplifies the creation, approval, localization, a Canada $6.0M - [**Zentail**](https://millionrounds.com/company/zentail) Zentail, Inc. United States $5.0M - [**Pushbullet**](https://millionrounds.com/company/pushbullet) Pushbullet is a software company that enhances connectivity between phones, tablets, and computers. United States $1.5M - [**Buttercoin**](https://millionrounds.com/company/buttercoin) Buttercoin | Trade Bitcoin with Ease. United States $1.3M - [*PN* **Perceptual Networks**](https://millionrounds.com/company/perceptual-networks) Perceptual Networks develops products that help users find the right people, such as the right employees, activity partners, and others. United States $1.0M - [**NewHive**](https://millionrounds.com/company/newhive) NewHive is the blank canvas for the web. United States $747K ### Internet 7 startups · $2.2B raised - [**Instacart**](https://millionrounds.com/company/instacart) Instacart is an online grocery platform that offers same-day delivery and pickup services for retailers and consumers. United States $2.1B - [*S* **Secret**](https://millionrounds.com/company/secret) Secret is an internet service-based company. United States $35M - [**Cleanly**](https://millionrounds.com/company/cleanly) Cleanly creates an alternative to their clients typical laundry and dry cleaning experience. United States $14M - [**Creative Market**](https://millionrounds.com/company/creative-market) Creative Market is a marketplace for ready-to-use design assets from independent creators around the world. United States $9.3M - [**Girlboss**](https://millionrounds.com/company/girlboss) Girlboss is a digital and physical community for ambitious women. United States $5.5M - [**Knowable**](https://millionrounds.com/company/knowable) Knowable provides legal services. United States $4.0M - [**Kicksend**](https://millionrounds.com/company/kicksend) Kicksend is a web, mobile and desktop app that provides an easy solution for printing and sending photographs. United States $2.8M ### Advertising & Adtech 7 startups · $93M raised - [**Lob**](https://millionrounds.com/company/lob) Lob is a direct mail automation platform based in San Francisco, founded in 2013. United States $30M - [*S* **Survata**](https://millionrounds.com/company/survata) United States $22M - [**AdQuick**](https://millionrounds.com/company/adquick) AdQuick is an out-of-home (OOH) advertising technology platform that simplifies the planning, buying, and measurement of outdoor a United States $21M - [**Upwave**](https://millionrounds.com/company/upwave) Upwave. Germany $14M - [**Polis**](https://millionrounds.com/company/polis) Polis develops a cross-platform application that offers door-to-door sales, lead generation and political canvassing solutions. United States $3.8M - [**Her**](https://millionrounds.com/company/her) HER is a dating application for FLINTA & queer women, allowing users to connect with each other and their community. United Kingdom $2.0M - [**Monogram**](https://millionrounds.com/company/monogram) Monogram is a digital agency from Atlanta. United States $1.2M ### Logistics 6 startups · $1.7B raised - [**Flexport**](https://millionrounds.com/company/flexport) Flexport is a technology-driven logistics and supply chain platform founded in 2013 in San Francisco. United States $1.6B - [**Orderful**](https://millionrounds.com/company/orderful) Orderful is a San Francisco-based SaaS company that offers a modern Electronic Data Interchange (EDI) platform. United States $60M - [*V* **Voyage**](https://millionrounds.com/company/voyage) United States $44M - [**EasyPost**](https://millionrounds.com/company/easypost) EasyPost is a B2B shipping API platform founded in 2012 and headquartered in Lehi, Utah. United States $28M - [**Terminal49**](https://millionrounds.com/company/terminal49) Terminal49 is a logistics technology company that offers an all-in-one container tracking and execution platform. United States $6.5M - [**Bellhop**](https://millionrounds.com/company/bellhop) Bellhop combines the major ride sharing apps into one, giving you the freedom to find the best ride at the best price. United States $450K ### Aerospace & Space 6 startups · $92M raised - [**Albedo**](https://millionrounds.com/company/albedo) Albedo, also known as Albedo Space, is an American aerospace company based in Broomfield, Colorado. United States $35M - [**Beyond Aero**](https://millionrounds.com/company/beyond-aero) Beyond Aero, operating as Hangarar Intermediação e Suporte Aeronáutico Ltda., is a Brazilian aviation technology company based in France $20M - [**Star Catcher**](https://millionrounds.com/company/star-catcher) Star Catcher creates first energy grid for space. United States $12M - [*HA* **Hop Aero**](https://millionrounds.com/company/hop-aero) Hop Aero develops hypersonic rocket cargo systems for rapid point-to-point delivery in contested environments. United States $12M - [**Kayhan Space**](https://millionrounds.com/company/kayhan-space) Kayhan Space is a U.S.-based space technology company founded in 2019, located in Broomfield, Colorado. United States $7.0M - [**Spaceium**](https://millionrounds.com/company/spaceium) Spaceium develops a spacecraft docking system to support interplanetary missions. Canada $6.3M ### Consumer Apps 6 startups · $25M raised - [**Mast Mobile**](https://millionrounds.com/company/mast-mobile) Mast provides an integrated communications platform for enterprises and individuals. United States $12M - [**Hey**](https://millionrounds.com/company/hey) Hey is making the Internet a friendly place, allowing you to discuss, ask and read insights on any website. United States $3.7M - [**Cron**](https://millionrounds.com/company/cron) Next-generation calendar for professionals and teams - $3.4M - [*G* **Gloria**](https://millionrounds.com/company/gloria) Gloria is a platform where players can share their videos and get discovered. - $3.0M - [**Kash**](https://millionrounds.com/company/kash) Permissionless, social-native flash prediction markets. United States $2.0M - [**Status**](https://millionrounds.com/company/status) Status is a customer account platform that builds stronger relationships with repeat shoppers. United States $750K ### Enterprise Software 5 startups · $436M raised - [**Arena**](https://millionrounds.com/company/arena) Arena is a community-powered AI platform developed by UC Berkeley researchers to evaluate large language models (LLMs) using real- United States $401M - [**TigerEye**](https://millionrounds.com/company/tigereye) 株式会社TIGEREYE is a Japan-based AI company that focuses on integrating computer vision and generative AI to address social and opera United States $30M - [**Outbound.io**](https://millionrounds.com/company/outbound-io) Outbound.io is a web-based tool that organizes the messages its users send around the actions their customers take. United States $2.1M - [**Docucharm**](https://millionrounds.com/company/docucharm) Automate paperwork by turning documents into structured data United States $2.0M - [**NanoVMs**](https://millionrounds.com/company/nanovms) NanoVMs is a privately held company based in San Francisco, California, specializing in unikernel infrastructure, tooling, and services. United States $375K **How this map is made.** Every startup here has raised money in a round we track that names Initialized Capital as an investor, the first in 2012. Each sits under its main sector, read from its rounds, and each sector shows its best-funded first; sectors with fewer than three companies are left off. Rebuilt nightly; updated 15 November 2026. ## More portfolio maps [All portfolios](https://millionrounds.com/portfolio-maps) [VC firm · United States **Techstars** 1,119 startups · 12 sectors · $16B](https://millionrounds.com/portfolio-maps/techstars-portfolio-map)[VC firm · United States **Alumni Ventures** 745 startups · 12 sectors · $64B](https://millionrounds.com/portfolio-maps/us-strategic-tech-fund-an-alumni-ventures-fund-portfolio-map)[VC firm · United States **Andreessen Horowitz** 694 startups · 12 sectors · $497B](https://millionrounds.com/portfolio-maps/andreessen-horowitz-portfolio-map)[VC firm · United States **Sequoia Capital** 651 startups · 12 sectors · $677B](https://millionrounds.com/portfolio-maps/sequoia-capital-portfolio-map)[VC firm · United States **SV Angel** 548 startups · 12 sectors · $79B](https://millionrounds.com/portfolio-maps/sv-angel-portfolio-map)[VC firm · United States **General Catalyst** 538 startups · 12 sectors · $230B](https://millionrounds.com/portfolio-maps/general-catalyst-portfolio-map) ## Raising from investors like Initialized Capital? 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