# Morgenthaler Ventures Portfolio Map 2026: 35 Startups by Sector > Morgenthaler Ventures' portfolio mapped: 35 startups it has backed, in 6 sectors from Biotech, Software and IT Services on. Source: https://millionrounds.com/portfolio-maps/morgenthaler-portfolio-map (Millionrounds; every figure on the page links to its filing or article) ## Biotech 14 - [SetPoint Medical](https://millionrounds.com/company/setpoint-medical) - [Moximed](https://millionrounds.com/company/moximed) - [*OB* OptiScan Biomedical](https://millionrounds.com/company/optiscan-biomedical) - [Elcelyx Therapeutics](https://millionrounds.com/company/elcelyx-therapeutics) - [Calithera Biosciences](https://millionrounds.com/company/calithera-biosciences) - [Nuvaira](https://millionrounds.com/company/nuvaira) - [*V* VertiFlex](https://millionrounds.com/company/vertiflex) - [Principia BioPharma](https://millionrounds.com/company/principia-biopharma) - [Ra Pharmaceuticals](https://millionrounds.com/company/ra-pharmaceuticals) - [*FL* ForSight Labs](https://millionrounds.com/company/forsight-labs) - [Scioderm](https://millionrounds.com/company/scioderm) - [NanoOpto](https://millionrounds.com/company/nanoopto) - [*L* Lumend](https://millionrounds.com/company/lumend) - [Mosaic Biosciences](https://millionrounds.com/company/mosaic-biosciences) ## Software 6 - [Xero](https://millionrounds.com/company/xero) - [Evernote](https://millionrounds.com/company/evernote) - [Practice Fusion](https://millionrounds.com/company/practice-fusion) - [Socrata](https://millionrounds.com/company/socrata) - [NuoDB](https://millionrounds.com/company/nuodb) - [Jaspersoft](https://millionrounds.com/company/jaspersoft) ## IT Services 5 - [MuleSoft](https://millionrounds.com/company/mulesoft) - [OneChip Photonics](https://millionrounds.com/company/onechip-photonics) - [*UP* United Platform Technologies](https://millionrounds.com/company/united-platform-technologies) - [NexTag](https://millionrounds.com/company/nextag) - [Convo](https://millionrounds.com/company/convo) ## Healthtech 4 - [Relievant Medsystems](https://millionrounds.com/company/relievant-medsystems) - [Miramar Labs](https://millionrounds.com/company/miramar-labs) - [PeopleMatter](https://millionrounds.com/company/peoplematter) - [*E* ExploraMed](https://millionrounds.com/company/exploramed) ## Telecoms 3 - [Force10 Networks](https://millionrounds.com/company/force10-networks) - [*WO* Wave7 Optics](https://millionrounds.com/company/wave7-optics) - [*VP* VSK Photonics](https://millionrounds.com/company/vsk-photonics) ## Medical Devices 3 - [Transcend Medical](https://millionrounds.com/company/transcend-medical) - [Ardian](https://millionrounds.com/company/ardian) - [Spine Wave](https://millionrounds.com/company/spine-wave) ## Segment by segment ### Biotech 14 startups · $1.3B raised - [**SetPoint Medical**](https://millionrounds.com/company/setpoint-medical) SetPoint Medical is a commercial-stage medical technology company founded in 2007, focused on developing bioelectronic therapies f United States $256M - [**Moximed**](https://millionrounds.com/company/moximed) Moximed Inc. United States $146M - [*OB* **OptiScan Biomedical**](https://millionrounds.com/company/optiscan-biomedical) United States $121M - [**Elcelyx Therapeutics**](https://millionrounds.com/company/elcelyx-therapeutics) Elcelyx Therapeutics is developing nutrient sensing-based products for weight management and obesity-related metabolic disorders. United States $117M - [**Calithera Biosciences**](https://millionrounds.com/company/calithera-biosciences) Calithera Biosciences is a pharmaceutical company developing novel small molecule therapeutics for the treatment of cancer. United States $115M - [**Nuvaira**](https://millionrounds.com/company/nuvaira) Nuvaira is a new alternative COPD treatment option that specializes in developing devices for treating lung diseases. United States $115M - [*V* **VertiFlex**](https://millionrounds.com/company/vertiflex) United States $107M - [**Principia BioPharma**](https://millionrounds.com/company/principia-biopharma) Principia Biopharma is dedicated to bringing oral therapies to patients with significant unmet medical needs in immunology & oncology. United States $90M ### Software 6 startups · $966M raised - [**Xero**](https://millionrounds.com/company/xero) Accounting software to help supercharge your small business. New Zealand $375M - [**Evernote**](https://millionrounds.com/company/evernote) Evernote is a suite of software and services that allow users to capture, organize, and find information across multiple platforms. United States $290M - [**Practice Fusion**](https://millionrounds.com/company/practice-fusion) Practice Fusion provides a free web-based electronic health record system and medical practice management technology to physicians. United States $158M - [**Socrata**](https://millionrounds.com/company/socrata) Socrata is a platform that enables governments to use data as a strategic asset. United States $55M - [**NuoDB**](https://millionrounds.com/company/nuodb) NuoDB is a provider of distributed SQL database for cloud applications. United States $46M - [**Jaspersoft**](https://millionrounds.com/company/jaspersoft) Jaspersoft provides a business intelligence suite that allows businesses to make better decisions through reports, dashboards and analytics. United States $44M ### IT Services 5 startups · $492M raised - [**MuleSoft**](https://millionrounds.com/company/mulesoft) MuleSoft provides an integration and API platform that makes it easy to connect data from any system to create connected experiences. United States $350M - [**OneChip Photonics**](https://millionrounds.com/company/onechip-photonics) OneChip Photonics is a privately held company based in Ottawa, Ontario, Canada, founded in 2005. Canada $80M - [*UP* **United Platform Technologies**](https://millionrounds.com/company/united-platform-technologies) United Platform Technologies is a China-based company that offers telecommunication services. China $50M - [**NexTag**](https://millionrounds.com/company/nextag) Nextag is a price-comparison and comparison-shopping company founded in 1999, headquartered in San Mateo, California. United States $7.0M - [**Convo**](https://millionrounds.com/company/convo) Convo is a software company that specializes in AI-powered software services and team collaboration products. United States $5.0M ### Healthtech 4 startups · $457M raised - [**Relievant Medsystems**](https://millionrounds.com/company/relievant-medsystems) Relievant Medsystems is a medical device company specializing in diagnosing and treating chronic low back pain. United States $211M - [**Miramar Labs**](https://millionrounds.com/company/miramar-labs) Miramar Labs develops medical devices for aesthetic indications that treat primary axillary hyperhidrosis in adults. United States $126M - [**PeopleMatter**](https://millionrounds.com/company/peoplematter) PeopleMatter is a mobile-first workforce management and applicant tracking platform designed specifically for hourly workers in th United States $64M - [*E* **ExploraMed**](https://millionrounds.com/company/exploramed) ExploraMed is a venture-backed medical technology incubation company. United States $55M ### Telecoms 3 startups · $333M raised - [**Force10 Networks**](https://millionrounds.com/company/force10-networks) Force10 Networks is a tech company offering reliable infrastructure solutions to build and secure intelligent services networks. United States $255M - [*WO* **Wave7 Optics**](https://millionrounds.com/company/wave7-optics) Wave7 Optics develops IP-based optical networks for the delivery of video, voice, and data services. United States $60M - [*VP* **VSK Photonics**](https://millionrounds.com/company/vsk-photonics) A supplier of active photonic components for fiber-optic telecommunications United States $18M ### Medical Devices 3 startups · $207M raised - [**Transcend Medical**](https://millionrounds.com/company/transcend-medical) Transcend Medical focuses on the research and development of novel devices for the treatment of glaucoma. United States $80M - [**Ardian**](https://millionrounds.com/company/ardian) Ardian is a developer of catheter-based therapies for hypertension treatment. United States $64M - [**Spine Wave**](https://millionrounds.com/company/spine-wave) Spine Wave engages in developing and marketing medical devices for the treatment of spinal disorders. United States $63M **How this map is made.** Every startup here has raised money in a round we track that names Morgenthaler Ventures as an investor, the first in 1999. Each sits under its main sector, read from its rounds, and each shows its best-funded first. Rebuilt nightly; updated 15 November 2026. ## More portfolio maps [All portfolios](https://millionrounds.com/portfolio-maps) [Co-investors **Who invests with Morgenthaler Ventures** 44 co-investors](https://millionrounds.com/portfolio-maps/morgenthaler-co-investors)[Sector portfolio **Morgenthaler Ventures' Biotech portfolio** 14 startups · $1.3B](https://millionrounds.com/portfolio-maps/morgenthaler-biotech-portfolio)[Portfolio map **Techstars portfolio map** 1,119 startups · $16B](https://millionrounds.com/portfolio-maps/techstars-portfolio-map)[Portfolio map **Alumni Ventures portfolio map** 745 startups · $64B](https://millionrounds.com/portfolio-maps/us-strategic-tech-fund-an-alumni-ventures-fund-portfolio-map)[Portfolio map **Andreessen Horowitz portfolio map** 694 startups · $497B](https://millionrounds.com/portfolio-maps/andreessen-horowitz-portfolio-map)[Portfolio map **Sequoia Capital portfolio map** 651 startups · $677B](https://millionrounds.com/portfolio-maps/sequoia-capital-portfolio-map) ## Raising from investors like Morgenthaler Ventures? 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