Correlation Ventures

Correlation Ventures

Correlation Ventures is a venture capital firm based in the United States.

Company Overview

Correlation Ventures is a venture capital firm that focuses on using analytics to offer entrepreneurs and other venture capitalists information while they are completing a financing round.

Correlation Ventures is a venture capital firm which makes investments in all stages: seed to late-stages, in all industry sectors. Most investments are in the $0.25 to $4 MM range.

The fund raised more than $165M in 2012 for its data based investment approach.

History

Founded in 2006 by David Coats and Trevor Kienzle, Correlation Ventures is a venture capital firm based in San Diego, California with an additional office in Palo Alto, California and New York City.

Correlation Ventures has been covered in the venture capital blog of the Wall Street Journal, MIT's Technology Review publication, VentureBeat, Forbes, and other publications.

Investments

Correlation Ventures has made 221 investments. One of their investments was on Apr 10, 2019, when they invested $20M in Scout Bio. Correlation Ventures has raised a total of $365M across two funds, one of them being their second fund. This fund was announced on Jan 11, 2017, and raised a total of $200M.

Correlation Ventures has invested in companies including Casper Sleep, Sun Basket, Crossbar (computer hardware manufacturer), Personal Capital, Virsto (acquired by VMware), Optimizely, Lever (company), Lytro, and AlienVault.

The firm invests across all industry segments including information technology, financial technology, life sciences, healthcare, consumer-business, financial services, and clean technology. It considers investments in companies headquartered in the United States. It seeks to invest between $0.25 million and $4 million in its portfolio companies. There should be at least one additional venture capital firm in the round when the firm is making its first investment in the company. It does not seek any board representation.

Timeline

April 10, 2019

Scout Bio

$20M.

January 11, 2017

Correlation Ventures II

$200M.

Funded Companies

Company
Description
Industry
Website
Location
IonQ

IonQ is a quantum computing company developing ion trap technology.

Quantum computing
College Park, Maryland
Synthorx

Synthetic biology company that created novel DNA base pairs and uses them to incorporate novel amino acids into proteins for potential therapeutics in areas of cancer and autoimmune disorders.

Biotechnology
San Diego
BlueVine

A company offering an online platform for small and medium-sized businesses to gain access to financial products.

Finance
Redwood City, California
Galera Therapeutics

A company developing therapeutics for the treatment of cancer

Biotechnology
Malvern, Arkansas
Lyte

A company with a platform where users can buy, sell, and exchange tickets for live events. It was founded in 2013 and has headquarters in San Francisco, California.

Electronic ticket
San Francisco
LabDoor

LabDoor a company providing an online marketplace for supplement products. It tests and ranks supplement and gives consumers scientific product reviews.

E-commerce
South San Francisco, California
Akash Systems

A company designing and manufacturing satellites, satellite parts, and materials for satellites.

Satellite
San Francisco
Entelo

Entelo is a San Francisco-based company founded by Jon Bischke.

Artificial intelligence (AI)
San Francisco
Lemonaid Health

A provider of an online telemedicine service in California and focuses on creating a revolutionized patient experience and improving and optimizing clinical care through the advancements in machine learning and AI.

Healthcare
San Francisco
Swell Radio

Swell Radio is a Mountain View, Contra Costa County, California-based company.

Audio
Mountain View, Contra Costa County, California
Headnote

Headnote is a San Francisco-based company.

Software as a service (SaaS)
San Francisco
Prose (company)

Prose is a company founded by Arnaud Plas, Nicolas Mussat and Paul Michaux.

Beauty
LeanData

Company

Customer relationship management (CRM)
Sunnyvale, California
Gabi

Gabi is a San Francisco-based insurance company.

Insurance
San Francisco
ShoCard

ShoCard is a digital identity card platform on the blockchain.

Cryptocurrency
Cupertino, California
Burrow (company)

A company offering customized sofas and chairs

E-commerce
New York City
Virsto Software

Company

Software
Atavium

Atavium is a Minneapolis-based company founded by Marc Olin.

Data management
Minneapolis
Squelch

Software company

Software
Redwood City, California
Manticore Games

Manticore Games is the developer and operator of CORE, a digital playground and community designed to unleash imagination and explore new play experiences.

Video game
San Mateo, California
Nexla

Nexla is an artificial intelligence company founded by Saket Saurabh.

Artificial intelligence (AI)
San Francisco
FINERY (Fashion company)

FINERY is a fashion company founded by Gillis Baxter.

Fashion
Visual.ly

Visual.ly is a San Francisco-based company.

San Francisco
Bravely

Digital health
Pyze (Company)

Pyze is a San Francisco-based company.

Software
San Francisco
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Associated investment funds

Investment Fund
Total offering (USD)
Total sold (USD)
Location
Date signed
Correlation Ventures, L.P.
150,000,000
San Diego
July 26, 2010
Correlation Ventures II, L.P.
170,000,000
San Diego
March 31, 2015
Correlation Ventures Executives Fund II, L.P.
5,000,000
San Diego
March 31, 2015
Correlation Ventures Executives Fund, L.P.
3,000,000
San Diego
July 26, 2010
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People

Name
Role
LinkedIn

Alan Chesler

Investor

Alexa Fischer

Employee

Bill Tobin

Investor

Daniel Goldman

Investor

David Coats

Employee

Jake Rosenfeld

Employee

Jessica Robertson

Employee

Max Murphy

Employee

Miles T. Bird

Employee

Nihar Neelakanti

Employee

Sean Black

Advisor

Shayna Modarresi

Advisor

Trevor Kienzle

Founder

Further reading

Title
Author
Link
Type
Date

An Algorithm to Pick Startup Winners

Jessica Leber

News

New Data on Venture Capital Returns: Exits Are Indeed Improving

Bruce Booth

News

Venture capital picks up the Moneyball strategy

Christina Farr

News

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

References

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