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The Venture Codex

Overview

Invests in early and growth-stage software companies for scaling success.

Founded

2018

Deals · 12mo

9

Stage focus

Series A
Series B

Geographic focus

Sweden
United Kingdom
United States

Sector focus

Advertising
Apps
E-Commerce
Professional Services
...

Investment portfolio

49rounds
NAMEDATESIZE
Lovable
Aug 2026Participated
$400 MSeries C
Vendelux
Jul 2026Participated
$50 MSeries B
Agency AI
Jun 2026Led
$12 MSeed
Bland AI
Jun 2026Participated
$50 MSeries C
Vector
May 2026Led
$10 MSeries A
Mintlify
Apr 2026Participated
$45 MSeries B
Auctor
Apr 2026Participated
$20 MSeries A
Lovable
Dec 2025Participated
$330 MSeries B
Tavus
Nov 2025Participated
$40 MSeries B
Recall.ai
Sep 2025Participated
$38 MSeries B
Botpress
Jun 2025Participated
$25 MSeries B
FirmPilot
May 2025Led
$12 MOther Equity
Lovable
Aug 2026Participated
$400 MSeries C
Vendelux
Jul 2026Participated
$50 MSeries B
Agency AI
Jun 2026Led
$12 MSeed
Bland AI
Jun 2026Participated
$50 MSeries C
Vector
May 2026Led
$10 MSeries A
Mintlify
Apr 2026Participated
$45 MSeries B
Auctor
Apr 2026Participated
$20 MSeries A
Lovable
Dec 2025Participated
$330 MSeries B
Tavus
Nov 2025Participated
$40 MSeries B
Recall.ai
Sep 2025Participated
$38 MSeries B
Botpress
Jun 2025Participated
$25 MSeries B
FirmPilot
May 2025Led
$12 MOther Equity
49
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Insights

Time horizon

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Deal Distribution

HubSpot Ventures: 49 funding rounds are recorded in the selected participation categories.All available history.
HubSpot Ventures: 49 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed23
Series A111
Series B016
Series C+07
Other Equity36

Monthly Deal Activity

HubSpot Ventures: 49 deals are recorded across 114 months.All available history.
HubSpot Ventures: 49 deals are recorded across 114 months. All available history
MonthDeals
May '172
Jun '170
Jul '170
Aug '171
Sep '171
Oct '170
Nov '170
Dec '170
Jan '180
Feb '181
Mar '181
Apr '180
May '180
Jun '180
Jul '180
Aug '181
Sep '180
Oct '181
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '212
Apr '210
May '210
Jun '211
Jul '211
Aug '210
Sep '211
Oct '211
Nov '210
Dec '210
Jan '221
Feb '222
Mar '222
Apr '220
May '220
Jun '221
Jul '221
Aug '220
Sep '220
Oct '221
Nov '220
Dec '220
Jan '230
Feb '231
Mar '230
Apr '231
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '241
Feb '240
Mar '241
Apr '240
May '240
Jun '240
Jul '242
Aug '241
Sep '240
Oct '241
Nov '240
Dec '241
Jan '251
Feb '252
Mar '250
Apr '252
May '252
Jun '251
Jul '250
Aug '250
Sep '251
Oct '250
Nov '251
Dec '251
Jan '260
Feb '260
Mar '260
Apr '262
May '261
Jun '262
Jul '261
Aug '261
Sep '260
Oct '260

Sector Breakdown

HubSpot Ventures: Enterprise Software is the largest displayed sector by deal count (25 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

HubSpot Ventures: Enterprise Software is the largest displayed sector by deal count (25 deals). All available history
SectorDeals
Enterprise Software25
AI & Machine Learning22
Networks, Cloud & Communication15
Marketing & Advertising13
Professional Services10
Data, Analytics & IT9
Developer Tools9
Media & Entertainment8
Cybersecurity & Privacy4
E-Commerce & Retail4
Fintech4
Consumer & Lifestyle3
Hardware & Robotics3
Health & Life Sciences2
Social & Community Platforms2
Travel & Hospitality1
Education & Workforce1

Deal Size Distribution

HubSpot Ventures: 49 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

HubSpot Ventures: 49 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M5
$5M-$10M2
$10M-$25M16
$25M-$50M13
$50M-$100M6
$100M-$250M5
$250M-$500M2
$500M-$1B0
$1B+0

Deals By Geography

HubSpot Ventures: United States has the largest recorded deal count among the displayed regions (38 deals).All available history.

Top 6 of 6 regions; European countries are grouped as Europe.

HubSpot Ventures: United States has the largest recorded deal count among the displayed regions (38 deals). All available history
RegionDeals
United States38
Europe7
Israel1
Australia1
New Zealand1
Canada1
HubSpot Ventures: 20 co-investors are shown, with Sequoia Capital sharing 10 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Investment Strategy

HubSpot Ventures: Led accounts for 12% and participating for 88% of round participation.All available history.
HubSpot Ventures: Led accounts for 12% and participating for 88% of round participation. All available history
CategoryDeals (count)Share (%)
Led612%
Participating4388%
HubSpot Ventures: Single-lead accounts for 17% and co-led for 83% of lead dynamics.All available history.
HubSpot Ventures: Single-lead accounts for 17% and co-led for 83% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead117%
Co-led583%

Team

Adam Coccari

Managing Partner

Andrew Lindsay

HubSpot SVP BD & Corporate Development

Brandon Greer

Sr. Manager, Corporate Development | Head of HubSpot Ventures

Dharmesh Shah

Co-Founder, CTO

Josef Scarantino

Program Manager, HubSpot Ventures

Kate Bueker

Chief Financial Officer

Katie Burke

Chief People Officer

Stephanie Saad Cuthbertson

Chief Product Officer

Whitney Sorenson

Chief Technology Officer