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Investor profile

Formation 8

Venture Capital · Founded 2011 · San Francisco, United States

Venture capital firm for early growth smart enterprise and energy companies

94 portfolio companies Venture Capital · $3.5B invested · 149 investments · Investor rank #866 · Last investment 9/2021
Portfolio companies 94 ↑ 6% 5y
Decacorns 1
Thoroughbreds 15 ↑ 15% 5y
01 · Biggest holdings

Formation 8’s biggest current holdings.

The most valuable companies Formation 8 still holds — unicorns and thoroughbreds it has backed, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Where a cap table names Formation 8 directly, the stake and its estimated value are shown too.

#CompanyEst. stakeValuationEst. value
  1. 1 Color HealthUnicorn · Health · USA $4.6B
  2. 2 Yello MobileUnicorn · Media · South Korea 11.2% $4.0B $448M
  3. 3 IroncladUnicorn · Legal · USA $3.2B
  4. 4 IllumioUnicorn · Security · USA $2.8B
  5. 5 Qualia LabsUnicorn · Fintech · USA $2.5B
  6. 6 Aviatrix SystemsUnicorn · Security · USA 10% $2.0B $200M
  7. 7 Collective HealthUnicorn · Health · USA $1.5B
  8. 8 AuguryUnicorn · Engineering and Manufacturing Equipment · USA $1.0B
  9. 9 SimplyUnicorn · Music · Israel $1.0B

Estimated value = Formation 8’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. See the underlying cap tables on Dealroom →

02 · Exits

Formation 8’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from Formation 8’s transaction record.

$1.6B IPO · 2018
Entered Series B+Now $22BHealth
$14B IPO · 2020
Entered Series ANow $42MFashion
$7.9B IPO · 2021
Entered Series B+Now $5.0BHealth
$4.0B IPO · 2021
Entered SeedNow $343MFintech
$3.3B IPO · 2021
Entered SeedNow $463MSecurity
$2.0B acquisition · 2014
Entered Series AGaming
$1.8B acquisition · 2024
Entered Series B+Fintech
$1.0B IPO · 2021
Entered Series ANow $156MHealth
03 · Portfolio analysis

Where Formation 8’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 94 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. USA81
  2. Canada4
  3. South Korea3
  4. UK3
  5. Israel2
  6. Singapore2
  7. Australia1
  8. Cuba1
By sectorCount
  1. Enterprise Software24
  2. Health15
  3. Fintech14
  4. Media8
  5. Education7
  6. Food7
  7. Real Estate7
  8. Energy6
  9. Marketing6
  10. Security6
  11. Fashion5
  12. Consumer Electronics4
By stage enteredCount
  1. Series A42
  2. Seed29
  3. Series B+23
By growth stageCount
  1. Breakout Stage39
  2. Late Growth34
  3. Early Growth25
04 · Portfolio market map

Inside Formation 8’s portfolio.

The 60 highest-funded portfolio companies, of 94 tracked.

Wish
Fashion
$42M
Oscar
Health · Unicorn
$5.0B
Collective Health
Health · Unicorn
$1.5B
Blend
Fintech
$343M
Illumio
Security · Unicorn
$2.8B
Guardant Health
Health · Decacorn
$22B
Color Health
Health · Unicorn
$4.6B
Bolt Threads
Fashion
$250M
Augury
Engineering and Manufacturing Equipment · Unicorn
$1.0B
Aviatrix Systems
Security · Unicorn
$2.0B
Ironclad
Legal · Unicorn
$3.2B
Branch International
Fintech
$700M
Riskified
Security
$463M
OpenGov
Fintech · Unicorn
$1.8B
Memebox
Wellness Beauty
$175M
Yello Mobile
Media · Unicorn
$4.0B
Qualia Labs
Fintech · Unicorn
$2.5B
Owlet Baby Care
Health
$156M
Light.co
Enterprise Software
$484M
Nylas
Enterprise Software
$480M
North
Fashion
$480M
UtiliData
Energy
$302M
BetterWorks
Jobs Recruitment
$244M
Simply
Music · Unicorn
$1.0B
Lunit
Health
$767M
Radius
Fintech
$200M
NextVR
Media
$100M
Plated
Food
$200M
Joy
Event Tech
$240M
Adentro
Food
$51M
Crunchbase
Enterprise Software
$200M
Oculus
Gaming · Unicorn
$2.0B
Super
Real Estate
$200M
Mode Analytics
Enterprise Software
$200M
Cape Analytics
Fintech
$176M
RelateIQ
Marketing
$390M
Casetext
Legal
$650M
Navdy
Home Living
$80M
Native Microbials
Food
$184M
Versive
Security
$51M
Honestbee
Food
$124M
Wellframe
Health
$80M
Revinate
Travel
$52M
Fieldwire
Real Estate
$134M
Console Connect
Telecom
$104M
Zanbato
Fintech
$60M
Tachyus
Real Estate
$60M
Kidaptive
Education
$76M
MyMusicTaste
Music
$44M
Cazena
Marketing
$40M
SevenFifty
Food
$92M
Neighborly
Fintech
$100M
akaintelligence
Enterprise Software
$64M
Nyansa, Inc.
Media
$60M
Farmigo
Food
$64M
Glow
Music
$1.2M
Operator
Telecom
$60M
Yup
Education
$16M
BuildZoom
Real Estate
$42M
Glow
Health
$68M
05 · Portfolio founders

Where Formation 8’s portfolio founders come from.

125 founders across the 98 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States84
  2. South Korea9
  3. Israel6
  4. Canada4
  5. Australia3
  6. United Kingdom3
  7. Argentina1
  8. Croatia1
  9. Cuba1
  10. Finland1
UniversityCount
  1. Stanford University17
  2. Massachusetts Institute of Technology7
  3. Harvard University4
  4. University of Maryland4
  5. University of Oxford4
  6. Cornell University3
  7. Korea Advanced Institute of Science and Technology3
  8. Tel Aviv University3
  9. University of California, San Diego3
  10. University of Waterloo3
Previous companyCount
  1. Alphabet | Google6
  2. Microsoft5
  3. Yahoo!4
  4. Formation 83
  5. MIT Media Lab3
  6. BillGuard2
  7. Chevron2
  8. Intel Corporation2
  9. Khosla Ventures2
  10. McKinsey & Company2
07 · Key people

Key people at Formation 8.

Source: Dealroom next-gen API — investor team endpoint.