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The Venture Codex

IBM Ventures

1 New Orchard Rd, Armonk, NY, 10504, United States

Overview

IBM Ventures is IBM’s venture capital fund. We invest in early-stage enterprise software startups building innovative technologies for the enterprise. To us, that means investing in broad trends that are strategically relevant to the future of IBM – across AI, data, cybersecurity, quantum computing, and sustainability. We are doubling down on our vision of an open and trusted future for enterprise AI with our announcement of a USD 500 million Enterprise AI Venture Fund. While we’ll continue to invest in non-AI related industries, we wanted to underscore our commitment to accelerating AI technologies for the enterprise. At our core, we are laser-focused on investing in, partnering with, and helping build the next generation of great enterprise technology companies – in AI and beyond.

Total investments
30
Lead investments
3
Investments · 12mo
2
Active investors
5

Sector focus

  • Venture Capital
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Investment portfolio

  • Orion Security

    Participated · Series A · Feb 2026

    Founded in 2024, ORION Security has built a proprietary end-to-end architecture that employs specialized AI agents to detect and prevent data exfiltration in real time without relying on static, human-authored policies. By evaluating data lineage, user identity, behavioral intent, content sensitivity and environmental context, the platform sharply reduces false positives that plague legacy DLP solutions. Enterprises in finance, healthcare and technology have already adopted the product to secure sensitive information while cutting maintenance costs associated with rule-based systems. The company positions itself as an alternative to a $5 billion legacy DLP market that struggles to handle modern AI-driven workflows and distributed workforces. With offices in New York City and Tel Aviv, ORION aims to scale go-to-market operations and speed product development of its context-aware protection capabilities. The recent financing brings total capital raised to $38 million, reflecting rapid market traction. Although specific revenue or user numbers were not disclosed, the company cites “tier-1 global customers” as evidence of early adoption.

  • Atolio

    Participated · Series A · Sep 2025

    Atolio offers a fully-private, AI-powered enterprise search platform that can be deployed on-premises or in a client’s private cloud to keep sensitive data protected. The company’s solution is designed to connect siloed systems of information and surface organizational knowledge for enterprise teams. Since founding in 2019, Atolio has deployed its platform to leading enterprises across industries and won multiple seven-figure contracts in the past three quarters. The firm says the product helps improve availability of product and customer information for sales and marketing and drives internal efficiencies. Atolio plans to use new capital to accelerate product development, grow the organization, and scale company operations. Its stated mission is to unlock value trapped in companies’ knowledge to help them run better businesses.

  • NetBox Labs

    Participated · Series B · Jul 2025

    NetBox Labs is the commercial steward of the open-source NetBox platform used by thousands of enterprises, including many Fortune 500 companies. It offers a suite of products — NetBox for network management, NetBox Discovery for automated device discovery, NetBox Assurance for identifying and correcting configuration drift, and NetBox Operator, an AI operations platform — to help teams automate and govern complex infrastructure. The company positions itself as a modern, composable network and infrastructure management stack that accelerates innovation, streamlines operations, and enforces performance and security compliance. Customers such as CoreWeave use NetBox Cloud to speed deployment and automate operations across AI datacenter footprints. Financially, NetBox Labs recently raised $35 million in a Series B and previously raised $20 million in a Series A in 2023. The new funding will support continued product innovation and hiring across departments as demand grows driven by AI and expanding infrastructure needs. NetBox Labs commercializes NetBox, an open source infrastructure resource modeling (IRM) tool that unifies IP address management (IPAM) and datacenter infrastructure management (DCIM). NetBox models and documents networks to serve as a single source of truth for where infrastructure is, how it’s connected, and how it’s growing. The NetBox project is available under an Apache 2.0 license, and NetBox Labs also offers a managed NetBox Cloud service. The company was spun out of NS1 in January and is led by former NS1 executives including CEO Kris Beevers and NetBox creator Jeremy Stretch. With a $20 million Series A, NetBox Labs plans to invest in both the core open source project and expansion of its commercial NetBox Cloud offering. The company is headquartered in New York following NS1’s acquisition by IBM, where several founders remained to run the new entity.

  • Qedma

    Participated · Series A · Jul 2025

    Qedma’s core product, QESEM, analyzes noise patterns to suppress some errors during execution and mitigate others in post-processing, enabling larger quantum circuits to run more accurately on today’s machines. The company says its approach can support circuits up to 1,000 times larger without requiring hardware-level error correction or additional qubits, and it is hardware-agnostic. Qedma has been made available through IBM’s Qiskit Functions Catalog since last September and has run demos on IonQ’s Aria; it also presented joint work with Japan’s RIKEN. The team is roughly 40 people today and plans to grow to 50–60 using proceeds from the recent round, hiring researchers, software engineers, and marketing and sales staff. Qedma has an evaluation agreement with an unnamed partner described as “the largest company in the market,” and its founders include CEO Asif Sinay, CSO Dorit Aharonov, and CTO Netanel Lindner. The company positions its software as a pragmatic path toward demonstrating quantum advantage before large-scale, fault-tolerant hardware arrives.

  • Ox Security

    Participated · Series B · May 2025

    Ox Security provides a platform that scans for vulnerabilities in both AI- and human-produced code, modeling risk across codebases and software supply chains. Its tools scan application code, model threats, recommend fixes, assist with code reviews, and generate executive reports that surface breaches and likely causes. The company says it analyzes over 100 million lines of code daily for around 200 customers, including eToro, SoFi, Microsoft, and IBM, and counts military and government entities among its clients. Ox was founded in 2021 and is based in New York and Tel Aviv. The 150-employee startup reports roughly $10 million in annual recurring revenue and expects ARR to double by the end of the year. Ox plans to use the new capital for growth and expansion as it competes with rivals such as Snyk, Veracode, Synopsis, and Checkmarx, and aims to be cash-flow-positive within 2–3 years. OX Security builds a holistic software supply chain security solution that goes beyond CI/CD and SDLC to provide visibility, automation and risk insights from Code-to-Cloud-to-Code. The product combines risk management and cybersecurity best practices with a user-focused experience to make supply chain security effortless for security teams and easy for developers to adopt. The company targets developers of cloud-native solutions and security operations teams seeking end-to-end visibility and automation. OX plans to collaborate with strategic partners to expand the frontiers of software supply chain security. The company recently received an investment from IBM Ventures to support that collaboration and product expansion. OX is based in Tel Aviv and was founded by Neatsun Ziv and Lior Arzi, who previously led Check Point’s Security Division. Ox Security is a Tel Aviv, Israel–based provider of a software supply chain security platform for DevSecOps, led by CEO Neatsun Ziv. Its solution uses the PBOM standard to cover every step of the development pipeline, from early planning through deployment to production. The company integrates with existing tools and infrastructure to monitor and record every action affecting software across the entire development lifecycle. The platform gives security and DevOps teams visibility and control over the attack surface, including source code, pipelines, artifacts, container images, runtime assets, and applications. The platform is already used by over 30 leading companies, including Kaltura and Bloomreach. Ox Security raised $34M and intends to use the funds to accelerate growth and expand operations and business reach.

Team