15 Best Venture Capital Firms For Series B Funding

Securing Series B funding is a major step for any growing company. This round, often considered the first of the later-stage venture capital stages, requires investors who can provide more than just capital. Finding the right partners who align with your vision is critical for scaling your operations and solidifying your market position.

To help you prepare, our team at Rho has curated this overview of top Series B venture capital firms. Use this guide to get familiar with the key players in the growth stage venture capital space, so you can approach your fundraise with more clarity and confidence.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho also provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.

Key Takeaways

• Series B funding is a growth-stage round focused on helping startups scale operations and solidify their market position.
• Firms like Lead Edge Capital, Volition Capital, K1 Investment Management, and RedBird Capital Partners are key players in the Series B investment stage.
• Rho Capital connects you to non-dilutive funding like venture debt and credit lines; once funded, the Rho platform provides FDIC-insured accounts, corporate cards with up to 2% cashback, and automated bill pay to manage your capital.

What is Series B Venture Capital?

Series B venture capital is a growth-stage investment designed to help your company scale after finding its footing with earlier funding. Investors at this stage provide the resources needed to build out your team, expand into new markets, and solidify your competitive position.

Types of Series B VC Firms At A Glance

If you're a founder raising your Series B, it helps to know which venture capital firms specialize by geography or sector; here’s a quick breakdown of those trends among top investors.

Series B VCs in New York

The city is a major hub for late-stage venture capital firms. For example, Lead Edge Capital focuses on software and internet companies, while RedBird Capital Partners has a broader portfolio including FinTech and consumer brands. You'll also find multistage growth venture capital from firms like Union Square Ventures, which invests across many sectors.

Series B VCs in California

California is home to many prominent VC firms. K1 Investment Management in Southern California concentrates on software, while Bay Area-based Emergence is known for its focus on enterprise cloud companies. Serent Capital, another San Francisco firm, also invests in successful software businesses.

Software and SaaS Series B VCs

Many growth stage venture capital investors specialize in SaaS and software. Firms like Emergence and K1 Investment Management are deeply invested in the space, as is Pelion Venture Partners, which backs early-stage B2B software companies.

Late-Stage BioTech and Healthcare VCs

For late-stage biotech venture capital, certain firms have dedicated expertise. Polaris Partners, a Boston-based firm, has a long history of investing in both healthcare and technology, while Ohio-based Narya backs companies in BioTech and Life Sciences.

Of course, many VC firms invest across all industries, locations, and even stages of the venture capital series explained in this guide.

Below is a closer look at some of the top Series B venture capital firms. We've included key details about their locations and industry focus, plus what makes each one a compelling partner for founders.

1. Lead Edge Capital

Based in New York, Lead Edge Capital is a growth equity firm that invests in software and internet companies. Since its founding in 2009, the firm has concentrated on providing capital to help businesses accelerate their growth.

The firm shows a strong preference for B2B software, with a portfolio that includes SaaS, FinTech, and cybersecurity companies like Help Scout and Akuity. This focus suggests an interest in businesses with established products and clear market traction.

Lead Edge Capital is likely a good match for founders of software companies who have already found product-market fit and are seeking capital to scale. Their growth equity approach is well-suited for businesses ready to expand operations and solidify their market position.

• Investment Stage: Series B / Growth Equity
• Industries of Focus: Software, SaaS, FinTech, Cybersecurity, Enterprise
• Location: New York
• Founded: 2009
• Notable Investments: Akuity, Help Scout, Ensighten, HaulHub
• Portfolio Size: Over 100 investments and 28 exits

You can refer to their website here.

2. Volition Capital

Volition Capital is a Boston-based growth equity firm that primarily invests in high-potential, founder-owned technology companies. Since its start in 2010, the firm has concentrated on providing capital to businesses that are primed for significant expansion.

The firm supports a broad range of technology sectors, from software and SaaS to cybersecurity and PropTech. With portfolio companies like ButterflyMX and JazzHR, Volition shows a clear preference for businesses with strong founder leadership and proven market traction.

Volition Capital may be a good match if you are a founder who has retained significant ownership and is seeking a partner to accelerate growth. Their focus on founder-owned businesses indicates they value capital efficiency and strong, established leadership.

• Investment Stage: Series B / Growth Equity
• Industries of Focus: Software, SaaS, PropTech, Cybersecurity, Healthcare, Enterprise
• Location: Boston, Massachusetts
• Founded: 2010
• Notable Investments: ButterflyMX, JazzHR, Black Kite, TraceLink
• Portfolio Size: 64 investments and 17 exits

You can refer to their website here.

3. K1 Investment Management

Based in Southern California, K1 Investment Management is a private equity firm that invests in enterprise software companies across North America. Since its founding in 2011, the firm has focused on providing capital and operational expertise to help its portfolio companies grow.

K1 maintains a clear focus on B2B software, with investments spanning SaaS, AI, FinTech, and cybersecurity. Its portfolio, which includes companies like RFPIO and IRONSCALES, shows a preference for businesses with established products and a strong market presence.

The firm is likely a strong partner for founders of established B2B software companies who are seeking operational support to drive growth. K1's private equity model suggests a hands-on approach to scaling its investments.

• Investment Stage: Series B
• Industries of Focus: Software, SaaS, AI/ML, FinTech, EdTech, Cybersecurity, Enterprise
• Location: Manhattan Beach, California
• Founded: 2011
• Notable Investments: RFPIO, Hiver, IRONSCALES, RentRedi
• Portfolio Size: 48 investments and 7 exits

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. Since its founding in 2013, the firm has focused on providing capital to build high-growth companies across various sectors.

The firm invests across a wide array of industries, from sports and consumer brands to FinTech and manufacturing. This broad focus, which includes portfolio companies like Beta Technologies, suggests an interest in businesses with strong fundamentals regardless of sector.

RedBird could be a good partner if your company operates in a sector that falls outside of typical software-focused funds. Their flexible investment approach is well-suited for founders building businesses in areas like industrials or TMT.

• Investment Stage: Series B
• Industries of Focus: Sports, FinTech, Consumer, Industrials, SpaceTech, Energy
• Location: New York, Dallas
• Founded: 2013
• Notable Investments: Beta Technologies
• Portfolio Size: 23 investments and 3 exits

You can refer to their website here.

5. Serent Capital

Serent Capital, based in San Francisco, has been investing since 2008. The firm partners with businesses that are already successful and provide compelling solutions to their customers' needs.

The firm concentrates on the EdTech and software sectors, backing companies with established market traction. Their investment in companies like ParentSquare shows a preference for businesses with proven solutions.

Serent Capital is likely a good fit if you are a founder of a software or EdTech company with a proven business model. Their approach is well-suited for founders looking for a partner to help scale an already successful operation.

• Investment Stage: Series B
• Industries of Focus: EdTech, Software
• Location: San Francisco
• Founded: 2008
• Notable Investments: ParentSquare
• Portfolio Size: 52 investments and 18 exits

You can refer to their website here.

6. Narya Capital

Narya is a thesis-driven venture capital firm with offices in Ohio and Illinois. Founded in 2019, the firm invests in companies at the Series B stage across several key sectors.

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

Narya may be a good partner for founders building companies in the Midwest or in sectors that do not fit neatly into a single category. Their thesis-driven approach is well-suited for founders who have a strong, specific vision for their market.

• Investment Stage: Series B
• Industries of Focus: BioTech, Healthcare, Life Science, Consumer, InsurTech
• Location: Ohio, Illinois
• Founded: 2019
• Notable Investments: Kriya Therapeutics, Hallow, Chapter
• Portfolio Size: 12 investments and 1 exit

You can refer to their website here.

7. Polaris Partners

Polaris Partners is a Boston-based firm that has been investing in healthcare and technology companies since 1996. They support businesses across all stages, from the initial founding all the way to profitable growth.

The firm's portfolio highlights its deep expertise in both healthcare and technology, with investments like Ajax Health in MedTech and Sonrai Security in cloud security. Their commitment to backing companies from founding to exit signals a preference for building long-term relationships with their founders.

This firm could be a strong partner if you are a founder in the BioTech, healthcare, or B2B technology sectors. Their multi-stage investment strategy makes them a good fit for founders looking for a partner to support them throughout their company's entire journey.

• Investment Stage: All stages, from founding to growth
• Industries of Focus: Healthcare, Technology, BioTech, AI/ML, Software
• Location: Boston, Massachusetts
• Founded: 1996
• Notable Investments: ByHeart, Ajax Health, KenSci, Sonrai Security
• Portfolio Size: Over 650 investments and 167 exits

You can refer to their website here.

8. Union Square Ventures

Union Square Ventures is a New York-based firm founded in 2003 that invests across multiple stages, from early startups to late-stage growth companies. They have built a reputation for backing businesses that can create large networks and communities.

The firm invests across an exceptionally wide range of industries, including software, FinTech, healthcare, and ClimateTech. Their portfolio includes well-known companies like DuckDuckGo and Quizlet, reflecting a thesis centered on businesses that broaden access to knowledge and capital.

USV could be a great partner if you are a founder building a business with strong network effects or a community-driven model. Their broad industry focus makes them a good fit for founders in many sectors who are looking for a long-term partner.

• Investment Stage: Early-stage to late-stage
• Industries of Focus: Software, FinTech, Healthcare, ClimateTech, E-Commerce, Enterprise
• Location: New York
• Founded: 2003
• Notable Investments: DuckDuckGo, Quizlet, Code Climate, Modern Fertility
• Portfolio Size: 392 investments and 54 exits

You can refer to their website here.

9. Dragoneer Investment Group

Dragoneer Investment Group is a San Francisco-based firm that invests in businesses with significant growth potential. They specialize in companies operating at the intersection of public and private markets.

The firm shows a clear interest in technology sectors like AI, robotics, and InsurTech. Their portfolio, which includes well-known companies like Strava and HackerOne, reflects a focus on high-growth tech businesses.

Dragoneer could be a strong partner if you are a founder in one of their target tech sectors with a long-term vision for growth. Their experience across both private and public markets is valuable for companies on a path to an IPO.

• Investment Stage: Series B
• Industries of Focus: AI/ML, InsurTech, Robotics, TMT
• Location: San Francisco
• Founded: 2012
• Notable Investments: Strava, HackerOne, ActiveCampaign, ComboCurve
• Portfolio Size: 170 investments and 44 exits

You can refer to their website here.

10. Emergence Capital

Emergence is a venture capital firm based in San Mateo, California, that has been investing in enterprise cloud companies since 2003. They partner with visionaries in the early and growth stages who are building the next generation of software that changes how the world works.

The firm maintains a clear focus on enterprise cloud and B2B SaaS, backing companies that redefine work processes. Their portfolio includes well-known names like Salesloft, G2, and Crunchbase, showing a commitment to businesses with strong product-led growth potential.

Emergence may be a good partner if you are a founder of an enterprise cloud company with a clear vision for the future of work. Their specific focus suggests they are best suited for founders who value deep industry expertise and a partnership-oriented approach.

• Investment Stage: Early and growth-stage, including Series B
• Industries of Focus: Enterprise Cloud, SaaS, B2B, Software
• Location: San Mateo, California
• Founded: 2003
• Notable Investments: G2, Salesloft, Crunchbase, DroneDeploy
• Portfolio Size: Over 220 investments and 45 exits

You can refer to their website here.

11. Lowercase Capital

Lowercase Capital is a San Francisco-based venture capital firm that has been active since 2010. While known for its seed investments, the firm also participates in later rounds like Series B.

The firm concentrates on technology companies, with a portfolio that includes B2B, software, and mobile startups. With a history of over 180 investments and more than 60 exits, their track record points to a deep experience in guiding companies through their growth cycles.

Lowercase Capital could be a good partner if you are a founder of a technology company in sectors like B2B software or developer tools. Their experience with both early-stage and growth rounds makes them suitable for founders seeking a long-term investment relationship.

• Investment Stage: Seed, Startup, and Series B
• Industries of Focus: B2B, Software, Developer Tools, Mobile, Information Technology
• Location: San Francisco
• Founded: 2010
• Notable Investments: Wizeline
• Portfolio Size: 188 investments and 63 exits

You can refer to their website here.

12. Pelion Venture Partners

Pelion Venture Partners is a venture capital firm based in Salt Lake City that invests in early-stage B2B software companies. With a history dating back to 1986, they have extensive experience helping entrepreneurs build their businesses.

The firm concentrates on sectors like CRM, sales automation, and healthcare IT, with portfolio companies including FreeAgent CRM and Rivet. Their focus on "helping entrepreneurs" signals a supportive partnership approach beyond just providing capital.

Pelion is likely a strong partner for founders of early-stage B2B software companies who are looking for guidance through the growth phase. Their deep industry focus is well-suited for entrepreneurs ready to scale their operations.

• Investment Stage: Series B, Early-stage
• Industries of Focus: B2B Software, CRM, Healthcare, IT, Medical Device
• Location: Salt Lake City, Utah
• Founded: 1986
• Notable Investments: FreeAgent CRM, Rivet
• Portfolio Size: 182 investments and 43 exits

You can refer to their website here.

13. Upfront Ventures

Upfront Ventures is a Santa Monica-based firm that has been investing in early-stage technology companies since 1996. They support a wide variety of sectors, making them one of the more versatile investors in Southern California.

The firm's portfolio is notably diverse, with investments in consumer brands like Parachute Home and enterprise software like Cordial. This breadth indicates a focus on strong founding teams and large market opportunities, rather than a narrow industry thesis.

Upfront Ventures could be a good match for founders across many technology sectors, particularly in consumer and enterprise applications. Their long history and large portfolio suggest they have the experience to support companies through various growth stages.

• Investment Stage: Early-stage, Series B
• Industries of Focus: Consumer Goods, E-Commerce, Enterprise Software, SaaS, FinTech, Healthcare
• Location: Santa Monica, California
• Founded: 1996
• Notable Investments: ChowNow, Parachute Home, Openpath, GumGum
• Portfolio Size: 380 investments and 74 exits

You can refer to their website here.

14. Altos Ventures

Altos Ventures is a Menlo Park-based firm that has been investing since 1996, managing over $8 billion in assets. They focus on providing capital to companies at the Series B stage, helping them accelerate their growth.

The firm invests across a remarkably wide range of sectors, including SaaS, FinTech, EdTech, and even consumer areas like Beauty and E-Commerce. Their portfolio, which features companies like Quizlet and Levelset, reflects an interest in strong businesses regardless of their specific industry.

Altos Ventures could be a good partner if you are a founder in almost any technology-driven sector with a proven business model. Their flexible, industry-agnostic approach is well-suited for companies that have found product-market fit and are ready to scale.

• Investment Stage: Series B
• Industries of Focus: SaaS, FinTech, EdTech, E-Commerce, AI/ML, and more
• Location: Menlo Park, California
• Founded: 1996
• Notable Investments: Quizlet, SpyCloud, BrightEdge, Levelset
• Portfolio Size: Over 260 investments and 40 exits

You can refer to their website here.

15. Coinbase Ventures

Coinbase Ventures is the investment arm of Coinbase, focusing on early-stage cryptocurrency and blockchain startups. Since its founding in 2018, the firm has aimed to support the growth of the open financial system.

As a corporate venture capital firm, its strategy is centered on the Web3 ecosystem, with a clear focus on FinTech, blockchain infrastructure, and developer tools. The portfolio, which includes companies like Alchemy and Unstoppable Domains, highlights a commitment to businesses building foundational technology for the decentralized web.

Coinbase Ventures is a strong match if you are a founder building a company in the crypto or blockchain space. Their strategic alignment with the broader Coinbase ecosystem can provide significant value beyond just capital, especially for teams creating core protocols or applications.

• Investment Stage: Early-stage, including Series B
• Industries of Focus: Cryptocurrency, Blockchain, FinTech, Developer Tools, Web3
• Location: San Francisco
• Founded: 2018
• Notable Investments: Alchemy, Blocknative, Gauntlet, Unstoppable Domains
• Portfolio Size: Over 260 investments

You can refer to their website here.

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

When you're raising Series B venture capital, the right partner offers more than just a check. This growth stage is about scaling operations and solidifying your market presence. Look for a firm whose expertise aligns with your specific needs, whether that's operational support, industry connections, or experience guiding companies toward an IPO.

As the firms above illustrate, many late-stage venture capital firms concentrate on specific sectors or geographies. A partner with deep experience in B2B software or AI can offer more relevant advice and connections. Consider whether you need a specialist with a narrow focus or a generalist firm with a broader portfolio.

Beyond their investment thesis, consider the firm's track record and how they support their portfolio companies. Do they take a hands-on approach? What is their reputation among other founders? Finding the right fit is crucial for a successful partnership as you continue to grow.

Raise Confidently with Rho

Having a curated list of investors helps you concentrate your efforts where they matter most. This focus is essential when your time and energy are limited during a fundraise.

If you’ve just raised or are planning to, our team is here to support your next steps. Rho can help you set up your financial stack in minutes so you can put your new capital to work.

While you're actively raising, Rho Capital connects you to non-dilutive funding like venture debt and credit lines. Once funded, our integrated platform helps you manage it all with business banking, corporate cards, and automated bill pay.

FAQs about Series B Venture Capital

What is the difference between venture capital series A, B, and C?

The venture capital series explained simply: Series A focuses on establishing product-market fit, Series B venture capital is for scaling, and Series C funds further expansion. Each round reflects a different stage of your company’s maturity and funding needs.

How do late-stage VC firms evaluate a portfolio company?

Late-stage VC firms look for proven traction, strong revenue, and a clear path to profitability. They assess your team and market to see if you're a solid late stage venture capital portfolio company, especially for competitive sectors like FinTech.

Are there Series B VCs for specific industries like biotech?

Yes, many late-stage venture capital firms specialize. For example, late-stage biotech venture capital funds seek companies with promising clinical data. Other VCs might concentrate on EdTech or sustainability, offering deep industry expertise.

Where are most late-stage venture capital funds located in the USA?

While major hubs like New York City and California's Bay Area lead, you'll find prominent late stage venture capital funds across the USA. Cities like Chicago and Miami have growing venture capital ecosystems.

How is multistage growth venture capital different?

Multistage growth venture capital firms invest across different funding rounds, from early-stage to later-stage venture capital. This allows them to support a company throughout its entire lifecycle, providing consistent partnership and capital as you grow.

How can Rho help after I secure Series B funding?

Once your growth stage venture capital is secured, our platform helps you manage it. We offer integrated banking, corporate cards, and automated payables to support your scaling operations. Get started with Rho today.