15 Best Venture Capital Firms For Series B Funding

Knowing the major Series B venture capital firms is essential as you prepare for your next fundraise. Finding the right partner for this growth stage is about more than just capital; it’s about finding support for your company's next phase of development.

To help you prepare, our team at Rho has curated this overview of prominent late-stage venture capital firms. Use this guide to identify potential partners and refine your outreach strategy before you begin conversations.

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Key Takeaways

• Series B venture funding is for startups that have found product-market fit and are ready to scale their operations and teams.
• Prominent Series B investors like Lead Edge Capital, Volition Capital, K1 Investment Management, and RedBird Capital Partners are notable backers of growth-stage companies.
• For founders raising or managing a new round, Rho’s platform provides FDIC-insured accounts, corporate cards with up to 2% cashback, automated bill pay, and spend controls.

What is Series B Venture Capital?

Series B funding is for companies that have established product-market fit and are ready to expand their team and operations.

This stage follows Series A and precedes later growth rounds, with investors providing the capital and guidance needed to build out your team and scale customer acquisition.

Types of Series B VC Firms At A Glance

For founders raising a Series B, it's helpful to know which late-stage venture capital firms specialize by geography or sector; here is a quick breakdown of those trends.

Series B VCs in New York

The city is a major hub for growth-stage venture capital. Prominent NYC investors include Lead Edge Capital, RedBird Capital Partners, and Union Square Ventures.

Series B VCs in California

California hosts many late-stage VC firms. For example, K1 Investment Management is based near Los Angeles, while the Bay Area is home to firms like Emergence and San Francisco-based Dragoneer.

Software & SaaS Series B VCs

Many Series B investors focus on B2B software. If you're a SaaS founder, firms like Volition Capital and Pelion Venture Partners have strong software portfolios.

Healthcare & BioTech Series B VCs

For late-stage biotechnology venture capital, there are specialized investors. Polaris Partners, based in Boston, has a long history in healthcare, while Narya is a newer firm that also invests in BioTech and life sciences.

Other multistage growth venture capital firms invest more broadly across industries, locations, and even stages.

Below is a closer look at prominent Series B venture capital firms. We've included key details about their locations, industry focus, and what makes each firm a notable partner for founders.

1. Lead Edge Capital

Lead Edge Capital is a New York-based growth equity firm that invests in software and internet-related businesses. Since its founding in 2009, the firm has backed over 100 companies, focusing on providing capital for expansion.

The firm concentrates on technology sectors, with a portfolio that includes companies in SaaS, cybersecurity, and FinTech. Their investments, such as Help Scout and HaulHub, show a clear preference for established B2B software models.

This firm could be a strong partner if you are a founder of a software company with proven traction. Their focus on growth-stage technology businesses makes them a good fit for teams ready to scale.

• Investment Stage: Growth equity, including Series B
• Industries of Focus: Software, SaaS, FinTech, and Cybersecurity
• Geographical Presence: New York
• Founded: 2009
• Portfolio Highlights: Help Scout, HaulHub, and Ensighten
• Portfolio Size: Over 100 investments made.

You can refer to their website here.

2. Volition Capital

Volition Capital is a Boston-based growth equity firm that invests in high-potential, founder-owned technology companies. They often provide the first institutional capital to businesses that have grown efficiently and are now ready to scale.

The firm invests across a broad spectrum of technology, including software, PropTech, and healthcare. Their focus on founder-owned businesses, highlighted by portfolio companies like ButterflyMX and JazzHR, indicates they value capital efficiency and strong leadership.

This firm may be a good match if you are a founder of a tech company that has scaled with little outside funding. Their approach is well-suited for teams seeking a partner for their first major institutional round.

• Investment Stage: Growth equity, Series B
• Industries of Focus: Software, SaaS, PropTech, Healthcare, and other technology sectors
• Geographical Presence: Boston, Massachusetts
• Founded: 2010
• Portfolio Highlights: ButterflyMX, JazzHR, and TraceLink
• Portfolio Size: 64 investments

You can refer to their website here.

3. K1 Investment Management

K1 Investment Management is a private equity firm based in the Los Angeles area that invests in software and technology companies across North America. They focus on providing capital to established private companies ready for their next stage of growth.

The firm has a clear specialization in B2B enterprise software, with portfolio companies spanning SaaS, cybersecurity, FinTech, and AI. Their investment in companies like RFPIO and IRONSCALES shows a preference for businesses with strong product-led growth models.

K1 could be a suitable partner if you are a founder of a North American B2B software company with a proven business model. Their private equity structure suggests they are looking for companies with solid traction that can benefit from operational expertise to scale.

• Investment Stage: Series B
• Industries of Focus: Enterprise software, SaaS, FinTech, and Cybersecurity
• Geographical Presence: Manhattan Beach, California
• Founded: 2011
• Portfolio Highlights: RFPIO, IRONSCALES, and ControlUp
• Portfolio Size: 48 investments

You can refer to their website here.

4. RedBird Capital Partners

RedBird Capital Partners is a principal investment firm with offices in New York and Dallas. They provide capital to companies across a wide range of industries, from technology to consumer goods.

The firm’s portfolio is notably diverse, spanning sectors like sports, energy, and transportation alongside FinTech and TMT. This broad focus, which includes companies like Beta Technologies, suggests an interest in businesses with strong fundamentals, regardless of industry.

RedBird may be a good partner if your company operates in one of their core sectors, especially those outside of pure software. Founders seeking an investor with experience across both traditional and emerging industries could find their approach valuable.

• Investment Stage: Series B
• Industries of Focus: Sports, FinTech, Consumer, Energy, and Transportation
• Geographical Presence: New York and Dallas
• Founded: 2013
• Portfolio Highlights: Beta Technologies
• Portfolio Size: 23 investments

You can refer to their website here.

5. Serent Capital

Serent Capital is a San Francisco-based venture fund that backs established businesses in the EdTech and software sectors. Founded in 2008, they focus on companies that have already found success and are delivering valuable solutions to their customers.

The firm's approach centers on partnering with companies that have already achieved a level of success, indicating a preference for proven business models over early-stage ventures. Their specific focus on EdTech and software, with investments like ParentSquare, shows a clear specialization in these markets.

This firm could be a good partner if you are a founder of a software or EdTech company with a solid track record and are looking for capital to scale. Their strategy is well-suited for businesses that have already demonstrated market traction and are ready for the next phase of growth.

• Investment Stage: Series B
• Industries of Focus: EdTech, Software
• Geographical Presence: San Francisco
• Founded: 2008
• Portfolio Highlights: ParentSquare
• Portfolio Size: 52 investments

You can refer to their website here.

6. Narya Capital

Narya Capital is a thesis-driven venture firm with a presence in Ohio and Illinois. Founded in 2019, they focus on specific themes and industries, often investing at the Series B stage.

The firm’s investment thesis covers a wide range of sectors, from BioTech and Healthcare to Consumer apps and InsurTech. This breadth is reflected in their portfolio, which includes companies like Kriya Therapeutics and the consumer app Hallow.

Narya may be a good partner if your company operates in one of their target industries, particularly if you are building a business outside of the major coastal tech hubs. Founders with a clear, thesis-aligned vision in sectors like healthcare or consumer tech could find their approach a strong fit.

• Investment Stage: Series B
• Industries of Focus: BioTech, Healthcare, Life Science, Consumer, InsurTech, and Information Technology
• Geographical Presence: Ohio and Illinois
• Founded: 2019
• Portfolio Highlights: Kriya Therapeutics, Hallow, and Chapter
• Portfolio Size: 12 investments

You can refer to their website here.

7. Polaris Partners

Polaris Partners is a long-standing investment firm based in Boston that supports both healthcare and technology companies. Since 1996, they have provided capital across all stages, from initial founding to later growth rounds.

The firm's dual focus on healthcare and technology is a defining feature, with a portfolio that includes BioTech, medical devices, software, and AI. Their willingness to invest across the entire company lifecycle, from seed to growth, signals a flexible, long-term partnership approach.

This firm is a strong potential partner if you are a founder in the healthcare or technology sectors, especially if you are based near the Boston innovation hub. Their multi-stage investment strategy makes them suitable for companies at various points of development.

• Investment Stage: All stages, from founding to profitable growth
• Industries of Focus: Healthcare, Technology, BioTech, and Software
• Geographical Presence: Boston, Massachusetts
• Founded: 1996
• Portfolio Highlights: ByHeart, Ajax Health, KenSci, and Sonrai Security
• Portfolio Size: Over 650 investments made.

You can refer to their website here.

8. Union Square Ventures

Union Square Ventures is a New York-based firm that has been investing in technology companies since 2003. They provide capital across multiple stages, including early-stage, growth, and late-stage rounds.

The firm invests across a wide array of industries, from FinTech and AI to ClimateTech and Creator Economy companies. Their portfolio, which includes names like DuckDuckGo and Quizlet, suggests a focus on businesses with strong network effects and community platforms.

USV could be a great partner if you are building a business with a large, engaged user base or network at its core. Founders working in both emerging and established technology sectors may find their broad investment thesis appealing.

• Investment Stage: Early-stage, growth, and late-stage financing
• Industries of Focus: Software, FinTech, AI/ML, Healthcare, ClimateTech, and Cryptocurrency/Blockchain
• Geographical Presence: New York
• Founded: 2003
• Portfolio Highlights: DuckDuckGo, Quizlet, Code Climate, and Modern Fertility
• Portfolio Size: 392 investments

You can refer to their website here.

9. Dragoneer Investment Group

Dragoneer Investment Group is a San Francisco-based firm that backs technology companies at the growth stage. They focus on businesses at the intersection of public and private markets, seeking out companies with significant long-term potential.

The firm's portfolio shows a clear interest in technology sectors like AI, InsurTech, and Robotics. With notable investments in companies like Strava and ActiveCampaign, they appear to value businesses with strong products and engaged user communities.

Dragoneer may be a good match for founders of growth-stage tech companies with a proven model and a large market opportunity. Their experience across both private and public markets is especially relevant for teams planning for long-term growth.

• Investment Stage: Series B
• Industries of Focus: Artificial Intelligence & Machine Learning (AI/ML), InsurTech, Robotics, and TMT
• Geographical Presence: San Francisco
• Founded: 2012
• Portfolio Highlights: Strava, ActiveCampaign, HackerOne, and Zerigo Health
• Portfolio Size: 170 investments

You can refer to their website here.

10. Emergence Capital

Emergence Capital is a venture firm based in San Mateo, California, that invests in cloud and SaaS companies. Since its founding in 2003, the firm has focused on backing founders whose vision is to change how people work.

The firm has a clear specialization in enterprise cloud applications, backing companies from early to growth stages. Their portfolio, featuring companies like Salesloft, G2, and Zipline, shows a pattern of investing in B2B software leaders.

This firm is a strong potential partner if you are a founder of a B2B SaaS or cloud company with a proven product. Their focus on "visionaries" suggests they value founders with a clear, ambitious plan for their market.

• Investment Stage: Early and growth-stage, including Series B
• Industries of Focus: Enterprise cloud, SaaS, B2B, and FinTech
• Geographical Presence: San Mateo, California
• Founded: 2003
• Portfolio Highlights: Salesloft, G2, Zipline, and Crunchbase
• Portfolio Size: Over 220 investments made.

You can refer to their website here.

11. Lowercase Capital

Lowercase Capital is a San Francisco-based venture firm that has been investing in technology companies since 2010. While known for early-stage investments, they also participate in later rounds like Series B.

The firm shows a strong preference for software-centric businesses, with a focus on B2B, developer tools, and mobile technology. Their investment in companies like Wizeline highlights this specialization in the tech sector.

This firm could be a good partner if you are a founder of a software or developer tool company with a clear business model. Their experience across different funding stages suggests they can support companies throughout their growth journey.

• Investment Stage: Series B
• Industries of Focus: B2B, Developer Tools, Consulting, Information Technology, Mobile, and Software
• Geographical Presence: San Francisco
• Founded: 2010
• Portfolio Highlights: Wizeline
• Portfolio Size: 188 investments

You can refer to their website here.

12. Pelion Venture Partners

Pelion Venture Partners is a Utah-based firm that has been backing entrepreneurs since 1986. They concentrate on providing capital to early-stage B2B software companies.

The firm has a long history of investing in software, with a portfolio that includes companies in CRM, healthcare, and productivity tools like FreeAgent CRM and Rivet. Their focus on early-stage B2B software signals a clear preference for companies with established business models ready for growth.

This firm could be a good fit if you are a founder of an early-stage B2B software company. Their location in Salt Lake City also makes them a notable investor for founders building companies outside of the coastal tech centers.

• Investment Stage: Early-stage, including Series B
• Industries of Focus: B2B Software, Healthcare, Productivity Tools, and Sales Automation
• Geographical Presence: Salt Lake City, Utah
• Founded: 1986
• Portfolio Highlights: FreeAgent CRM, Rivet
• Portfolio Size: 182 investments

You can refer to their website here.

13. Upfront Ventures

Upfront Ventures is a Santa Monica-based firm that has been investing in technology companies since 1996. They primarily back early-stage businesses, often participating in Series B rounds to help companies scale.

The firm's portfolio is exceptionally diverse, covering everything from consumer apps and e-commerce to enterprise SaaS and robotics. This breadth is seen in investments like restaurant tech platform ChowNow and consumer brand Parachute Home.

Founders across many technology sectors, especially in consumer and enterprise software, could find Upfront a good fit. Their Southern California base also makes them a key investor for startups in the Los Angeles tech ecosystem.

• Investment Stage: Early-stage, including Series B
• Industries of Focus: Consumer, E-Commerce, SaaS, FinTech, AI/ML, and Healthcare
• Geographical Presence: Santa Monica, California
• Founded: 1996
• Portfolio Highlights: ChowNow, Parachute Home, Openpath, and Cordial
• Portfolio Size: 380 investments

You can refer to their website here.

14. Altos Ventures

Altos Ventures is a Menlo Park-based firm that has been investing since 1996. They manage over $8 billion in assets and focus on providing capital to companies at the Series B stage.

The firm invests across an exceptionally wide range of industries, including EdTech, SaaS, FinTech, and E-Commerce. Their portfolio, with companies like Quizlet and SpyCloud, reflects an interest in strong businesses across many different sectors.

Altos Ventures could be a good partner if you are a founder of a growth-stage company in almost any technology-related field. Their broad investment strategy makes them a potential fit for many businesses ready for their Series B round.

• Investment Stage: Series B
• Industries of Focus: EdTech, SaaS, FinTech, E-Commerce, AI/ML, and more
• Geographical Presence: Menlo Park, California
• Founded: 1996
• Portfolio Highlights: Quizlet, SpyCloud, BrightEdge, and Trainual
• Portfolio Size: 268 investments

You can refer to their website here.

15. Coinbase Ventures

Coinbase Ventures is the investment arm of Coinbase, focused on backing early-stage companies in the cryptocurrency and blockchain sectors. They provide capital to startups building what they term an "open financial system."

As a corporate venture firm, their primary mission is to support the growth of the broader crypto economy. Their portfolio, which includes infrastructure players like Alchemy and consumer-facing projects like Unstoppable Domains, shows a focus on foundational web3 technologies.

This firm is an ideal partner if you are a founder building a company in the web3, crypto, or blockchain space. Teams that could benefit from strategic alignment with the Coinbase ecosystem would find their support particularly valuable.

• Investment Stage: Early-stage, including Series B
• Industries of Focus: Cryptocurrency, Blockchain, FinTech, and Web3 Infrastructure
• Geographical Presence: San Francisco
• Founded: 2018
• Portfolio Highlights: Alchemy, Unstoppable Domains, CoinTracker, and Gauntlet
• Portfolio Size: Over 260 investments
• Investor Type: Corporate Venture Capital

You can refer to their website here.

What Startup Founders Should Look for in a Series B VC Firm

When evaluating late-stage venture capital firms, it's crucial to look for a partner whose expertise aligns with your growth plans. As the examples above show, many Series B investors specialize by industry, stage, or business model. Finding the right fit means identifying a firm that understands your market and can provide relevant guidance beyond just funding.

You'll notice that while many prominent VC firms are based in major tech hubs, strong partners exist across the country, including in cities like Chicago. Industry focus is also a key differentiator; some firms concentrate on broad software categories, while others have deep expertise in sectors like financial services. This specialization can be a significant asset for your company.

As you build your outreach list, consider these factors:

• Portfolio Synergy: Do their other investments complement your business?
• Operational Support: What specific resources do they offer for scaling operations, hiring, and sales?
• Long-Term Vision: Does the firm share your long-term goals for the company?

Choosing the right partner for your growth stage venture capital round sets the foundation for your company's future success.

Raise Confidently with Rho

Fundraising requires significant time and energy, so a focused list of relevant investors is critical. This approach helps you direct your efforts toward the firms that are the best fit for your company's stage and sector.

If you’ve just raised or are planning to, Rho can help you set up your financial stack in minutes. Our platform is built to support founders as they prepare for their next stage of growth.

We help you manage your new capital with integrated business banking, corporate cards, and automated bill pay. These tools give you the control and visibility needed to deploy funds efficiently.

FAQs about Series B Venture Capital

What is the typical valuation for a Series B company?

Valuations vary, but companies raising Series B venture capital often fall in the $50 million to $250 million range. This growth stage venture capital round reflects proven traction and readiness to scale operations in hubs like Seattle.

How does Series B differ from Series C venture capital?

The venture capital series explained simply: Series B focuses on scaling, while Series C is for market expansion and acquisition. The series b c venture capital definition distinguishes them by maturity, with later stage venture capital targeting more established companies.

Are there late-stage VC firms outside of New York and California?

Yes, many late-stage VC firms operate beyond NYC and California. Thriving venture capital ecosystems exist in cities like Austin and Miami, offering capital and support for growth-stage companies across the USA.

What do late-stage biotechnology venture capital firms look for?

Late-stage biotechnology venture capital firms prioritize companies with strong clinical data, a clear regulatory path, and a defined market. These late-stage biotech VC firms seek proven science and a solid IP portfolio before investing.

How important is industry focus for late-stage venture capital funds?

It's very important. Specialized late-stage venture capital funds, such as those focused on generative AI or EdTech, provide deep industry expertise. This focus helps a late stage venture capital portfolio company scale more effectively with relevant guidance.

How can Rho help after my Series B fundraise?

Once you secure growth stage venture capital, our platform helps you manage it. We offer integrated banking, corporate cards, and automated payables to give you full control and visibility over your new funds. Get started with Rho.