Venture capital firm
Norwest portfolio
norwest.comNorwest is a venture capital firm based in Menlo Park, United States, founded in 1961. It has invested in 215 venture-backed companies across 329 funding rounds on VCMC, and led 121 of those rounds. 26 of them were in the last 12 months.
215
Venture-backed companies
in its portfolio on VCMC
329
Funding rounds
led 121
26
Last 12 months
rounds, Oct 2025 to Sep 2026
57
With a disclosed valuation
of 215 companies
$198.7B
Combined value of its private companies
the whole companies, not what Norwest owns
200 private companies Norwest has backed have a VCMC valuation; together they are worth $198.7B. That is the value of the whole companies, not what Norwest owns. VAST Data is 17% of the total. 15 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
Norwest's most valuable portfolio companies
The 10 most valuable private companies Norwest has backed, by VCMC's valuation. Values cover private companies only; public companies are not included.
- 1 VAST Data Software Development Services $34.5B range $26.1B – $45.4B Joined at Series B, 2019
- 2 Faire General Retail & Merchandise, San Francisco $20.3B range $8.0B – $29.3B Joined at Series E, 2020
- 3 Plaid Payment Processing & Point of Sale, San Francisco $8.5B range $5.7B – $10.2B Joined at Series C, 2018
- 4 Gong Tech Companies, San Francisco $8.4B range $647M – $13.6B Led at Series A, 2017
- 5 Harness Tech Companies, San Francisco $7.2B range $4.8B – $8.6B Led at Series C, 2021
- 6 Workato Tech Companies, Palo Alto $6.8B range $917M – $9.5B Joined at Series C, 2019
- 7 Tenstorrent Device Manufacturing, Santa Clara $6.2B range $5.4B – $9.3B Joined at Series B, 2019
- 8 Vuori Clothing Manufacturers, Carlsbad $6.1B range $820M – $9.6B Led at Series A, 2019
- 9 Monogram Health Home Health Care, Brentwood $3.9B range $649M – $5.6B Led at Series A, 2020
- 10 Tech Companies, Louisville $3.5B range $268M – $4.7B Joined at Series F, 2021
Portfolio
Full Norwest portfolio (215 companies)
215 companies. Load more shows the rest.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tenstorrent Device Manufacturing · since Series B, 2019 | Series E Oct 2026 $1.50B | $6.2B | $5.4B – $9.3B | $8.1B (+30%) | $887M | 0% | 1,280 | growing | A | |
| 2 | VAST Data Software Development Services · since Series B, 2019 | Series F Apr 2026 $1.00B | $34.5B | $26.1B – $45.4B | $39.5B (+15%) | $4.3B | 0% | 1,263 | up | A | |
| 3 | Plaid Payment Processing & Point of Sale · since Series C, 2018 | Growth Equity Apr 2025 $575M | $8.5B | $5.7B – $10.2B | $8.1B (-5%) | $832M | 18% | 5,107 | growing | A | |
| 4 | Faire General Retail & Merchandise · since Series E, 2020 | Series G Nov 2021 $400M | $20.3B | $8.0B – $29.3B | $20.3B (0%) | $2.8B | 4% | 7,705 | growing | C | |
| 5 | Harness Tech Companies · led at Series C, 2021 | Series E Dec 2025 $240M | $7.2B | $4.8B – $8.6B | $7.5B (+4%) | $820M | 0% | 1,831 | up | A | |
| 6 | Generalist Tech Companies · since Growth, 2026 | Series B Aug 2026 $200M | $3.2B | $2.6B – $5.2B | $4.5B (+40%) | $495M | 0% | 106 | growing | B | |
| 7 | UPSIDE Foods Meat Production & Processing · led at Series B, 2020 | Series C Apr 2022 $400M | $479M | $102M – $1.5B | $431M (-10%) | $149M | 54% | 230 | flat | D | |
| 8 | Gong Tech Companies · led at Series A, 2017 | Series E Jun 2021 $250M | $8.4B | $647M – $13.6B | $8.0B (-5%) | $1.5B | 0% | 2,109 | flat | D | |
| 9 | Monogram Health Home Health Care · led at Series A, 2020 | Growth Equity Jan 2023 $375M | $3.9B | $649M – $5.6B | $3.8B (-3%) | $363M | 0% | 942 | up | D | |
| 10 | XpressBees Shipping Couriers · led at Series E, 2020 | Series G Nov 2023 $80M | $1.9B | $401M – $2.2B | $1.6B (-19%) | $246M | 0% | 8,370 | flat | C | |
| 11 | Fuze Health Drug Stores & Pharmacies · since Series C, 2018 | Series E Jan 2022 $200M | $1.8B | $579M – $3.8B | $1.8B (0%) | $292M | 0% | 220 | growing | C | |
| 12 | Homeward Mortgage Brokers · led at Series B, 2021 | Series B May 2021 $371M | $3.2B | $185M – $5.8B | $2.9B (-8%) | $560M | 0% | 297 | flat | D | |
| 13 | ElasticRun Warehousing & Storage · led at Seed, 2016 | Series E Feb 2022 $330M | $1.8B | $170M – $2.4B | $1.7B (-7%) | $293M | 9% | 3,481 | flat | D | |
| 14 | HoneyBook Tech Companies · since Series C, 2019 | Series E Nov 2021 $250M | $1.0B | $199M – $3.7B | $976M (-3%) | $391M | 56% | 325 | flat | D | |
| 15 | Vuori Clothing Manufacturers · led at Series A, 2019 | Private Equity Nov 2024 $825M | $6.1B | $820M – $9.6B | $6.0B (-1%) | $940M | 0% | 2,675 | up | D | |
| 16 | OfBusiness Chemicals · led at Series D, 2019 | Growth Equity Apr 2025 $12M | $179M | $54.6M – $307M | $160M (-11%) | $13.0M | 55% | 1,155 | flat | C | |
| 17 | Workato Tech Companies · since Series C, 2019 | Series E Nov 2021 $200M | $6.8B | $917M – $9.5B | $6.7B (-1%) | $940M | 0% | 1,470 | up | D | |
| 18 | Modsy Tech Companies · led at Series A, 2016 | Series C May 2019 $37M | $3.00M | $0 – $3.00M | $3.00M (0%) | – | 100% | 70 | down | dead | |
| 19 | Ritual Vitamins & Supplements · led at Series A, 2017 | Series B Feb 2019 $25M | $196M | $14.0M – $278M | $191M (-2%) | $25.8M | 0% | 239 | up | D | |
| 20 | Charlie Payment Processing & Point of Sale · since Series A, 2018 | Series A Nov 2018 $9.0M | $70.2M | $2.56M – $137M | $70.2M (0%) | $12.6M | 0% | 2 | unknown | D | |
| 21 | Charlie AI Tech Companies · since Series A, 2018 | Series A Nov 2018 $9.0M | $62.2M | $4.24M – $94.7M | $57.7M (-7%) | $12.6M | 0% | 14 | up | D | |
| 22 | Gift Shops · led at Series D, 2014 | Series E Dec 2018 $208M | $1.7B | $128M – $3.9B | $1.7B (0%) | $372M | 7% | 583 | flat | D | |
| 23 | Tech Companies · led at Series C, 2019 | Series E Aug 2021 $100M | $588M | $46.3M – $797M | $577M (-2%) | $76.2M | 9% | 10 | unknown | D | |
| 24 | Tech Companies · led at Series C, 2017 | Acquisition May 2026 | $289M acquired 2026 | $144M – $513M | – | – | 75% | 336 | down | C | |
| 25 | Tech Companies · led at Series B, 2021 | Series D Nov 2023 $120M | $618M | $290M – $1.6B | $323M (-48%) | $155M | 97% | 505 | down | C | |
| 26 | Tech Companies · led at Series A, 2021 | Series C Feb 2022 $140M | $1.4B | $148M – $2.2B | $1.3B (-8%) | $240M | 14% | 552 | flat | D | |
| 27 | Tech Companies · led at Series C, 2026 | Series C Aug 2026 $125M | $1.0B | $664M – $1.7B | $1.2B (+23%) | $135M | 0% | 267 | growing | B | |
| 28 | Tech Companies · led at Series A, 2020 | Series C Apr 2022 $95M | $521M | $63.9M – $1.3B | $475M (-9%) | $115M | 33% | 215 | down | D | |
| 29 | Tech Companies · since Series E, 2023 | Series E Oct 2023 $51M | $478M | $109M – $1.2B | $378M (-21%) | $88.5M | 43% | 166 | down | D | |
| 30 | Tech Companies · led at Seed, 2019 | Series B Apr 2022 $78M | $223M | $43.2M – $783M | $197M (-11%) | $88.2M | 59% | 168 | flat | D | |
| 31 | Tech Companies · led at Series C, 2021 | Series C May 2021 $50M | $158M | $31.2M – $1.1B | $143M (-9%) | $63.3M | 89% | 132 | flat | D | |
| 32 | Motorcycle Dealers & Rentals · since Series C, 2023 | Series C Sep 2023 $50M | $613M | $295M – $870M | $613M (0%) | $82.3M | 0% | 1,518 | growing | B | |
| 33 | Tech Companies · since Series A, 2022 | Series B Mar 2025 $52M | $253M | $156M – $474M | $159M (-37%) | $52.6M | 97% | – | shrinking | B | |
| 34 | Tech Companies · since Series A, 2024 | Series B Sep 2025 $55M | $572M | $273M – $811M | $572M (0%) | $62.9M | 0% | 229 | growing | B | |
| 35 | Tech Companies · led at Series B, 2021 | Series C Oct 2024 $27M | $222M | $86.4M – $424M | $182M (-18%) | $33.2M | 59% | 44 | flat | C | |
| 36 | Tech Companies · since Series A, 2021 | Series B Feb 2022 $56M | $285M | $28.1M – $639M | $261M (-8%) | $64.5M | 25% | 129 | flat | D | |
| 37 | Tech Companies · led at Series C, 2016 | Series D Nov 2017 $47M | $106M | $31.0M – $560M | $106M (0%) | $70.6M | 82% | 39 | flat | D | |
| 38 | Tech Companies · led at Series A, 2024 | Series B Apr 2026 $50M | $393M | $231M – $697M | $491M (+25%) | $54.1M | 0% | 151 | growing | B | |
| 39 | Tech Companies · since Series A, 2015 | Series E Mar 2024 $50M | $566M | $262M – $651M | $544M (-4%) | $62.2M | 0% | 233 | up | B | |
| 40 | Tech Companies · since Series A, 2008 | Series D Aug 2012 $32M | $222M | $30.9M – $518M | $222M (0%) | $55.9M | 25% | 70 | up | D | |
| 41 | Tech Companies · since Series A, 2025 | Series B Feb 2026 $50M | $377M | $206M – $622M | $438M (+16%) | $48.2M | 0% | 120 | growing | B | |
| 42 | Tech Companies · led at Seed, 2024 | Series A Jul 2025 $40M | $530M | $216M – $752M | $530M (0%) | $74.2M | 0% | 116 | growing | C | |
| 43 | Tech Companies · led at Series B, 2018 | Series C Mar 2021 $40M | $452M | $55.0M – $690M | $432M (-4%) | $61.0M | 0% | 334 | up | D | |
| 44 | Tech Companies · led at Series B, 2010 | Buyout Jan 2022 $100M | $367M acquired 2022 | $25.7M – $521M | – | – | 0% | 180 | flat | D | |
| 45 | Tech Companies · led at Series C, 2024 | Series C Sep 2024 $33M | $459M | $236M – $698M | $396M (-14%) | $50.5M | 0% | 90 | growing | B | |
| 46 | Tech Companies · led at Series C, 2017 | Acquisition Sep 2024 | $156M acquired 2024 | $18.0M – $336M | – | – | 29% | 89 | flat | D | |
| 47 | Tech Companies · led at Series B, 2014 | Series C Apr 2018 $24M | $63.0M | $13.9M – $275M | $63.0M (0%) | $31.2M | 70% | 42 | flat | D | |
| 48 | Tech Companies · led at Series C, 2022 | Series C Feb 2022 $32M | $144M | $16.1M – $375M | $133M (-7%) | $32.6M | 30% | 69 | flat | D | |
| 49 | Tech Companies · led at Series B, 2018 | Series B Sep 2018 $30M | $129M | $11.4M – $268M | $129M (0%) | $32.5M | 13% | 364 | flat | D | |
| 50 | Tech Companies · led at Series B, 2026 | Series B Feb 2026 $47M | $438M | $220M – $764M | $502M (+15%) | $55.2M | 0% | 136 | flat | C |
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 Norwest invests: stages, industries and countries
Most of its rounds are Series C and later (50%). Its companies span 57 industries, most in Tech Companies, Software Development Services and Medical Supply Manufacturers, across 12 countries.
Rounds by stage
- Pre-seed 1
- Seed 20
- Series A 80
- Series B 64
- Series C and later 164
Investments by industry
- Tech Companies 107
- Software Development Services 11
- Medical Supply Manufacturers 10
- Loans & Financing 8
- Biotechnology 7
- Payment Processing & Point of Sale 6
- Digital & Marketing Agencies 4
- Cosmetic Manufacturing 3
Investments by country
- United States 181
- India 22
- Israel 3
- Brazil 1
- Bulgaria 1
- Canada 1
Recent rounds
Norwest's latest investments
Norwest's most recent funding rounds, newest first. 26 rounds in the last 12 months.
- Series D $200M 13 Oct 2026
- Series B, led $150M 7 Oct 2026
- Series A $31M 6 Oct 2026
- Growth $140M 25 Aug 2026
- Growth $140M 25 Aug 2026
- Generalist Series B $200M 25 Aug 2026
- Series A, led $13M 18 Aug 2026
- Series D $85M 4 Aug 2026
- Series C, led $125M 3 Aug 2026
- Growth, led $40M 20 Jul 2026
Co-investors
Norwest's top co-investors
The investors that most often join the same rounds as Norwest. Lightspeed Venture Partners leads, with 29 rounds together.
- Lightspeed Venture Partners 29 rounds together
- Salesforce Ventures 14 rounds together
- Accel 14 rounds together
- TPG 12 rounds together
- 12 rounds together
- Battery Ventures 12 rounds together
- Tiger Global 12 rounds together
- Qualcomm Ventures 12 rounds together
- GV 12 rounds together
- Menlo Ventures 12 rounds together
About
About Norwest
Norwest is a venture capital and growth equity firm that provides investment services, operational support, and strategic advisory to entrepreneurs and businesses across sectors such as SaaS, biotech, consumer, healthcare, fintech, and prop-tech. The company offers services including talent development, brand-building, leadership coaching, operations consulting, and strategic advisory, and manages investments in North America, India, and Israel. Norwest also collaborates with portfolio companies on sustainability, diversity, and inclusion initiatives.
Description from Veridion's company data.
- Founded
- 1961
- Based in
- Menlo Park, United States
- Team
- 169 people, -11% in a year
- Type
- Venture capital firm
Focus markets
- Healthcare
- Biotechnology
- Software
- Financial Services
- Consumer Goods
- Technology
What Norwest offers
- Venture Capital Investment Services
- Growth Equity Investment Services
- Early-Stage Startup Investment Services
- Late-Stage Growth Investment Services
- Strategic Partnership Development Services
- Portfolio Company Operational Support Services
- Portfolio Company Leadership Coaching Services
- Portfolio Company Talent Development Services
Questions
Norwest: frequently asked questions
How many companies has Norwest invested in?
215 venture-backed companies on VCMC, across 329 funding rounds.
What are Norwest's most valuable private companies?
VAST Data ($34.5B), Faire ($20.3B), Plaid ($8.5B), by VCMC's valuation.
What was Norwest's latest investment?
ICON, a Series D round in Oct 2026 of $200M.
Which stages does Norwest invest in?
Norwest invests most often at Series C and later (164 rounds), followed by Series A (80) and Series B (64). It has also joined 20 seed and 1 pre-seed rounds.
What is Norwest's portfolio worth?
Its private companies with a VCMC valuation are worth $198.7B together. That is the sum of the companies' values, not what Norwest owns.
Who does Norwest invest alongside?
Lightspeed Venture Partners (29 rounds), Salesforce Ventures (14 rounds), Accel (14 rounds).