Venture capital firm
Meritech Capital portfolio
meritechcapital.comMeritech Capital is a venture capital firm based in Palo Alto, United States, founded in 1999. It has invested in 84 venture-backed companies across 118 funding rounds on VCMC, and led 37 of those rounds. 16 of them were in the last 12 months.
84
Venture-backed companies
in its portfolio on VCMC
118
Funding rounds
led 37
16
Last 12 months
rounds, Oct 2025 to Sep 2026
56
With a disclosed valuation
of 84 companies
$193.1B
Combined value of its private companies
the whole companies, not what Meritech Capital owns
73 private companies Meritech Capital has backed have a VCMC valuation; together they are worth $193.1B. That is the value of the whole companies, not what Meritech Capital owns. Kalshi is 13% of the total. 11 companies it backed have since been acquired and are not included. How VCMC values companies.
Values cover private companies only; public companies are not included.
Portfolio
Meritech Capital's most valuable portfolio companies
The 10 most valuable private companies Meritech Capital has backed, by VCMC's valuation. Values cover private companies only; public companies are not included.
- 1 Kalshi Financial Services, New York $25.2B range $19.1B – $34.0B Joined at Series E, 2025
- 2 OpenEvidence Tech Companies, Miami $14.2B range $10.4B – $18.7B Joined at Series D, 2026
- 3 Carta Tech Companies, San Francisco $10.2B range $4.0B – $16.0B Led at Series D, 2018
- 4 Wealthsimple Investment Consultants & Financial Advisors, Toronto $8.5B range $6.2B – $9.8B Led at Growth, 2021
- 5 Flock Safety Alarms, Surveillance & Security Systems, Atlanta $7.7B range $6.5B – $9.5B Joined at Series D, 2021
- 6 Tech Companies, Ras Al Khaimah $7.7B range $4.6B – $9.5B Joined at Growth, 2025
- 7 Verkada Alarms, Surveillance & Security Systems, San Mateo $7.6B range $5.0B – $9.0B Led at Series B, 2019
- 8 Tech Companies, New York $7.3B range $6.2B – $10.6B Led at Series B, 2024
- 9 Lyra Health Psychologists & Counseling Services, Burlingame $6.6B range $974M – $9.9B Joined at Series D, 2020
- 10 Tech Companies, San Francisco $6.6B range $3.9B – $8.0B Led at Series C, 2025
Portfolio
Full Meritech Capital portfolio (84 companies)
84 companies. Load more shows the rest.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kalshi Financial Services · since Series E, 2025 | Series F May 2026 $1.00B | $25.2B | $19.1B – $34.0B | $29.6B (+17%) | $3.3B | 0% | 583 | growing | A | |
| 2 | DataRobot Tech Companies · led at Series D, 2018 | Series G Jul 2021 $300M | $2.6B | $460M – $8.0B | $2.3B (-11%) | $855M | 48% | 868 | flat | D | |
| 3 | Wealthsimple Investment Consultants & Financial Advisors · led at Growth, 2021 | Growth Equity Oct 2025 $540M | $8.5B | $6.2B – $9.8B | $8.5B (0%) | $763M | 0% | 2,493 | growing | A | |
| 4 | Aledade Health Care Services · led at Series C, 2020 | Debt Dec 2025 $500M | $4.1B | $1.2B – $5.6B | $3.9B (-4%) | $548M | 0% | 1,955 | up | C | |
| 5 | True Anomaly Aerospace and Defence · since Series D, 2026 | Series D Apr 2026 $650M | $2.6B | $1.9B – $3.6B | $3.1B (+20%) | $345M | 0% | 502 | growing | B | |
| 6 | Carta Tech Companies · led at Series D, 2018 | Series G Aug 2021 $500M | $10.2B | $4.0B – $16.0B | $10.1B (-1%) | $1.5B | 5% | 5,814 | growing | C | |
| 7 | Element Biosciences Biotechnology · since Series C, 2021 | Series E Jun 2026 $175M | $2.4B | $1.4B – $4.4B | $2.9B (+18%) | $315M | 0% | 448 | flat | B | |
| 8 | Lyra Health Psychologists & Counseling Services · since Series D, 2020 | Series F Jan 2022 $235M | $6.6B | $974M – $9.9B | $6.3B (-4%) | $1.0B | 0% | 2,973 | up | D | |
| 9 | OpenEvidence Tech Companies · since Series D, 2026 | Series D Apr 2026 $250M | $14.2B | $10.4B – $18.7B | $16.2B (+15%) | $1.8B | 0% | 140 | growing | A | |
| 10 | Lucid Tech Companies · led at Series C, 2018 | Growth Equity Jun 2021 $500M | $3.1B | $267M – $4.0B | $3.1B (0%) | $346M | 0% | 1,357 | flat | D | |
| 11 | Lumilens Electronical Components Manufacturing · since Series C, 2026 | Series C Aug 2026 $700M | $5.8B | $4.8B – $8.2B | $7.2B (+23%) | $788M | 0% | 148 | growing | A | |
| 12 | Flock Safety Alarms, Surveillance & Security Systems · since Series D, 2021 | Growth Equity Jul 2026 $275M | $7.7B | $6.5B – $9.5B | $8.3B (+7%) | $743M | 0% | 1,434 | up | A | |
| 13 | Verkada Alarms, Surveillance & Security Systems · led at Series B, 2019 | Growth Equity Dec 2025 $100M | $7.6B | $5.0B – $9.0B | $7.8B (+3%) | $702M | 0% | 6,345 | growing | A | |
| 14 | Tekion Tech Companies · since Series D, 2021 | Growth Equity Jul 2024 $200M | $4.6B | $2.1B – $5.3B | $4.6B (-1%) | $409M | 0% | 3,016 | up | B | |
| 15 | ClickUp Tech Companies · since Series C, 2021 | Series C Oct 2021 $400M | $4.1B | $274M – $6.8B | $4.1B (0%) | $647M | 0% | 1,300 | unknown | D | |
| 16 | EGYM Tech Companies · led at Series G, 2024 | Series G Sep 2024 $200M | $1.5B | $545M – $1.8B | $1.2B (-19%) | $187M | 2% | 317 | flat | B | |
| 17 | Coinmerce Cryptocurrency · led at Series D, 2021 | Series E Oct 2021 $270M | $3.0B | $609M – $9.9B | $2.6B (-14%) | $1.1B | 59% | 2,106 | flat | D | |
| 18 | Filevine Tech Companies · since Series D, 2022 | Growth Equity Sep 2025 $400M | $3.6B | $2.6B – $4.1B | $3.6B (0%) | $320M | 0% | 997 | growing | A | |
| 19 | Icertis Tech Companies · led at Series D, 2018 | Growth Equity Mar 2025 $50M | $744M | $248M – $1.2B | $730M (-2%) | $55.1M | 10% | 2,417 | flat | C | |
| 20 | Owner Tech Companies · led at Series C, 2025 | Series D Aug 2026 $240M | $2.4B | $2.0B – $3.4B | $3.0B (+25%) | $329M | 0% | 462 | growing | A | |
| 21 | Tech Companies · since Series C, 2022 | Series D Apr 2025 $200M | $2.8B | $1.9B – $3.2B | $2.8B (0%) | $310M | 0% | 708 | growing | A | |
| 22 | Tech Companies · led at Series B, 2024 | Series D Sep 2026 $115M | $7.3B | $6.2B – $10.6B | $9.2B (+26%) | $1.0B | 0% | 1,540 | growing | A | |
| 23 | Tech Companies · led at Series D, 2019 | Acquisition Oct 2020 $3.20B | $1.9B acquired 2020 | $977M – $2.2B | – | – | 0% | – | unknown | B | |
| 24 | Tech Companies · led at Series C, 2012 | Growth Equity Jun 2022 $115M | $194M | $126M – $553M | $155M (-20%) | $136M | 97% | 328 | shrinking | C | |
| 25 | Tech Companies · led at Series C, 2026 | Series C Mar 2026 $100M | $2.5B | $1.7B – $3.2B | $2.8B (+12%) | $303M | 0% | 145 | growing | B | |
| 26 | Tech Companies · since Series C, 2021 | Series C Sep 2021 $100M | $1.5B | $123M – $1.7B | $1.4B (-6%) | $202M | 0% | – | flat | D | |
| 27 | Tech Companies · led at Series B, 2026 | Series B Apr 2026 $125M | $1.3B | $869M – $1.9B | $1.6B (+28%) | $178M | 0% | 263 | growing | B | |
| 28 | Tech Companies · since Series B, 2025 | Series B Dec 2025 $75M | $1.7B | $869M – $2.1B | $1.8B (+8%) | $200M | 0% | 189 | growing | B | |
| 29 | Tech Companies · led at Series B, 2026 | Series B Mar 2026 $80M | $777M | $504M – $1.1B | $972M (+25%) | $107M | 0% | 68 | growing | B | |
| 30 | Tech Companies · led at Series D, 2012 | Acquisition Nov 2022 | $1.3B acquired 2022 | $86.9M – $1.5B | – | – | 0% | 480 | unknown | D | |
| 31 | Tech Companies · since Series B, 2019 | Series C Sep 2022 $40M | $186M | $36.9M – $688M | $151M (-19%) | $52.0M | 59% | 133 | flat | D | |
| 32 | Loans & Financing · led at Growth, 2014 | Growth Equity Jan 2014 $33M | $286M | $25.2M – $478M | $286M (0%) | $36.3M | 12% | 260 | flat | D | |
| 33 | Tech Companies · led at Growth, 2022 | Series A May 2025 $23M | $113M | $62.2M – $211M | $77.4M (-31%) | $30.5M | 97% | 50 | down | C | |
| 34 | Tech Companies · since Series C, 2015 | Acquisition Jun 2024 | $273M acquired 2024 | $24.6M – $415M | – | – | 0% | 270 | up | D | |
| 35 | Tech Companies · since Series A, 2025 | Series A Jun 2025 $20M | $149M | $68.4M – $222M | $135M (-9%) | $24.7M | 25% | 41 | growing | B | |
| 36 | Tech Companies · since Seed, 2020 | Series A Apr 2021 $15M | $10.1M | $5.01M – $32.8M | $9.25M (-9%) | $17.9M | 97% | 3 | shrinking | C | |
| 37 | Tech Companies · since Series A, 2024 | Series A Jan 2024 $15M | $136M | $19.9M – $232M | $112M (-18%) | $21.6M | 11% | 54 | flat | D | |
| 38 | Tech Companies · since Seed, 2022 | Seed Mar 2022 $5.0M | $35.1M | $2.49M – $87.9M | $32.1M (-9%) | $13.2M | 23% | 14 | flat | D | |
| 39 | Tech Companies · since Seed, 2023 | Seed Jun 2023 $4.0M | $15.3M | $3.80M – $51.0M | $12.0M (-22%) | $9.38M | 66% | 9 | down | D | |
| 40 | Tech Companies · since Seed, 2021 | Acquisition Nov 2023 | $8.09M acquired 2023 | $3.24M – $19.3M | – | – | 76% | 4 | unknown | C | |
| 41 | Tech Companies · since Series B, 2017 | Acquisition May 2025 $3.50B | $7.7B acquired 2025 | $1.8B – $13.2B | – | – | 34% | 980 | flat | D | |
| 42 | Tech Companies · led at Series D, 2025 | Growth Equity Jan 2026 $204M | $4.7B | $3.7B – $5.6B | $4.8B (+3%) | $475M | 0% | 1,248 | growing | A | |
| 43 | Tech Companies · since Series C, 2023 | Series E Oct 2026 $250M | $2.3B | $2.0B – $3.4B | $3.0B (+30%) | $359M | 0% | 795 | growing | A | |
| 44 | Tech Companies · since Growth, 2007 | Growth Equity Mar 2020 $340M | $3.0B | $234M – $5.7B | $3.0B (0%) | $374M | 0% | 571 | up | D | |
| 45 | Tech Companies · since Series C, 2022 | Series D May 2025 $93M | $3.8B | $1.3B – $5.7B | $3.8B (0%) | $283M | 0% | 4,493 | growing | C | |
| 46 | Tech Companies · since Series C, 2026 | Series C Oct 2026 $325M | $3.0B | $2.6B – $4.5B | $3.9B (+30%) | $429M | 0% | 256 | growing | A | |
| 47 | Tech Companies · led at Series C, 2025 | Series D Dec 2025 $140M | $6.6B | $3.9B – $8.0B | $6.9B (+6%) | $762M | 0% | 198 | growing | B | |
| 48 | Payment Processing & Point of Sale · led at Series B, 2020 | Other Sep 2025 $20M | $460M | $115M – $2.2B | $402M (-13%) | $224M | 70% | 68 | flat | D | |
| 49 | Tech Companies · led at Series C, 2017 | Acquisition Mar 2021 $6.50B | $2.3B acquired 2021 | $1.7B – $2.9B | – | – | 0% | 710 | unknown | A | |
| 50 | Tech Companies · led at Series B, 2020 | Other Sep 2025 $20M | $1.4B | $152M – $2.8B | $1.3B (-9%) | $312M | 20% | 301 | flat | D |
Valuation: VCMC's valuation with its range, from a low to a high scenario; a company with no valuation shows a dash, one acquired after its last round its last value as a private company.
Activity
How Meritech Capital invests: stages, industries and countries
Most of its rounds are Series C and later (76%). Its companies span 20 industries, most in Tech Companies, Biotechnology and Loans & Financing, across 9 countries.
Rounds by stage
- Seed 7
- Series A 6
- Series B 15
- Series C and later 90
Investments by industry
- Tech Companies 58
- Biotechnology 3
- Loans & Financing 3
- Alarms, Surveillance & Security Systems 2
- Payment Processing & Point of Sale 2
- Professional & Management Training 2
- Aerospace and Defence 1
- Cryptocurrency 1
Investments by country
- United States 71
- Germany 4
- France 2
- Netherlands 2
- Canada 1
- Colombia 1
Recent rounds
Meritech Capital's latest investments
Meritech Capital's most recent funding rounds, newest first. 16 rounds in the last 12 months.
- Series E $250M 21 Oct 2026
- Series C $325M 20 Oct 2026
- Series D $115M 9 Sep 2026
- Owner Series D $240M 28 Aug 2026
- Lumilens Series C $700M 6 Aug 2026
- True Anomaly Series D $650M 28 Apr 2026
- Series B, led $125M 27 Apr 2026
- OpenEvidence Series D $250M 6 Apr 2026
- Series B, led $80M 31 Mar 2026
- Series C, led $100M 2 Mar 2026
Co-investors
Meritech Capital's top co-investors
The investors that most often join the same rounds as Meritech Capital. Accel leads, with 19 rounds together.
- Accel 19 rounds together
- Sequoia Capital 17 rounds together
- Sapphire Ventures 15 rounds together
- Kleiner Perkins 12 rounds together
- Andreessen Horowitz 12 rounds together
- Index Ventures 11 rounds together
- Redpoint Ventures 11 rounds together
- 10 rounds together
- Y Combinator 9 rounds together
- Insight Partners 9 rounds together
About
About Meritech Capital
Meritech Sub-Management Corporation, known as Meritech Capital, is an American venture capital firm that provides investment advisory services, strategic partnerships, and access to proprietary analytics platforms for late-stage technology companies. The firm invests in sectors such as consumer Internet and media, software and services, enterprise infrastructure, and medical devices, and supports its portfolio companies with operational and strategic guidance.
Description from Veridion's company data.
- Founded
- 1999
- Based in
- Palo Alto, United States
- Team
- 23 people, +0% in a year
- Type
- Venture capital firm
Focus markets
- Technology
- Healthcare
What Meritech Capital offers
- Venture Capital Investment Services
- Late-Stage Technology Company Investment
- Technology Sector Portfolio Management
- Strategic Partnership Development
- Investment Advisory Services
- Technology Sector Insights Delivery
- Proprietary Analytics Access Services
- Brand Development Consulting
Questions
Meritech Capital: frequently asked questions
How many companies has Meritech Capital invested in?
84 venture-backed companies on VCMC, across 118 funding rounds.
What are Meritech Capital's most valuable private companies?
Kalshi ($25.2B), OpenEvidence ($14.2B), Carta ($10.2B), by VCMC's valuation.
What was Meritech Capital's latest investment?
Pigment, a Series E round in Oct 2026 of $250M.
Which stages does Meritech Capital invest in?
Meritech Capital invests most often at Series C and later (90 rounds), followed by Series B (15) and seed (7). It has also joined 6 Series A rounds.
What is Meritech Capital's portfolio worth?
Its private companies with a VCMC valuation are worth $193.1B together. That is the sum of the companies' values, not what Meritech Capital owns.
Who does Meritech Capital invest alongside?
Accel (19 rounds), Sequoia Capital (17 rounds), Sapphire Ventures (15 rounds).