The Venture Codex Logo

The Venture Codex

Arthur Ventures

250 Nicollet Mall, Suite 750, Minneapolis, MN, 55401, United States

Overview

Arthur Ventures leads investments in B2B software companies in every region of the U.S. and Canada.

Total investments
70
Lead investments
39
Investments · 12mo
6
Active investors
11

Sector focus

  • B2B
  • Enterprise Software
  • Information Technology
  • Internet
  • Mobile
Visit website

Investment portfolio

  • ThreatLocker

    Participated · Series F · Jul 2026

    ThreatLocker provides a Zero Trust cybersecurity platform that enforces allowlisting, Ringfencing™, and controls for network and cloud access to prevent known and unknown threats. The company reports protecting more than 70,000 organizations worldwide and has expanded its international footprint with offices in Orlando, Dublin, Dubai, and Brisbane, and plans to open a Reading, U.K. office. Its platform has been extended to cover Zero Trust Network Access and Zero Trust Cloud Access from a single dashboard. ThreatLocker plans to invest the new capital in AI-related security controls, further platform development, and continued international growth. The company has been recognized on the Inc. 5000 list for two consecutive years. Recent investors in the business include Elephant, D. E. Shaw Ventures, Arthur Ventures, and Koch Disruptive Technologies following prior investment by Elephant.

  • TJM Labs

    Participated · Series B · Jul 2026

    TJM Labs provides a pharmacy AI platform that replaces manual processes with advanced algorithms to increase efficiency and accuracy in medication dispensing and management. The platform is currently automating over 500,000 pharmacy tasks daily across more than 450 pharmacies, indicating meaningful customer adoption and scale. The company has made two acquisitions to enhance its technology and service offerings. With the new $75 million Series B, TJM Labs plans to expand operations and accelerate development efforts. TJM Labs is headquartered in Wilmington, DE and is positioning itself to challenge traditional, manual pharmacy workflows.

  • Handl Health

    Led · Series A · Feb 2026

    Handl Health provides a unified analytical and operational platform that aggregates pricing, utilization, benefit, and quality data so insurance brokers, carriers, and third-party administrators can build customizable employer health plans. Its software models provider performance, optimizes care pathways, and tracks real-world outcomes, allowing employers to move away from one-size-fits-all coverage. Over the last two years the company reports identifying $113 million in savings on nearly $1 billion of healthcare spend and enabling alternative plans that cut consumer costs on shoppable procedures by 22 percent. Handl positions itself as the infrastructure layer for the next generation of network analytics and alternative plan design, leveraging AI and newly available price-transparency datasets. With fresh capital, the team plans to expand the platform’s capabilities, deepen plan analytics, and deliver more predictable pricing and improved patient care. The $14.2 million Series A brings additional resources to accelerate product development and market penetration among the 60 percent of under-retirement-age Americans covered by employer plans.

  • Circadian Risk Inc.

    Led · Series A · Feb 2026

    Circadian Risk develops scenario-based, dynamic risk analysis software that gives enterprises real-time visibility into physical security threats, compliance gaps, and overall risk exposure across distributed facilities. The cloud platform combines online and offline assessments with interactive dashboards and scored visualizations so security teams can prioritize actions and communicate risk internally. Customers include some of the world’s most sophisticated organizations that historically relied on manual, fragmented processes to track risk. The Ann Arbor-based company has demonstrated customer traction that impressed repeat backers such as 11 Tribes and Tamiami Angel Funds. With fresh capital, management plans to refine its go-to-market strategy, expand the development team, and integrate generative AI features into the platform. Proceeds will also fund a larger client success organization to deepen industry expertise and accelerate enterprise adoption across multiple verticals. To date, the company has raised at least $6 million in institutional funding.

  • Nucleus Security

    Participated · Series C · Feb 2026

    Nucleus Security offers a cloud-based platform that consolidates asset, vulnerability, and exposure data from more than 200 security and business tools into a single system of record. The software layers business context and AI-driven exploit intelligence to deliver prioritized, actionable remediation plans, replacing traditional vulnerability scanners and home-grown tools that struggle at enterprise scale. Customers use Nucleus to orchestrate exposure management across IT, cloud, application, and OT environments, enabling faster risk reduction and measurable security outcomes. In 2025, the company saw a wave of enterprise replacements, underscoring accelerating demand for its solution. As a FedRAMP-authorized vendor, Nucleus is also positioned for federal and defense contracts. The firm plans to use its new capital to scale go-to-market operations and further enhance its orchestration and automation capabilities, aiming to define the next phase of the exposure management market.

Team

  • James Burgum

    Founding Partner and Chief Executive Officer

    LinkedIn
  • Andrew Heim

    Senior Vice President

    LinkedIn
  • Anna Talerico

    Operating Partner

    LinkedIn
  • Jeff Yurecko

    Operating Partner

    LinkedIn