Search company, investor...

Predict your next investment

Canvas Ventures company logo
Venture Capital
FINANCE | Investment Firms & Funds
canvas.vc

Investments

99

Portfolio Exits

14

Funds

3

About Canvas Ventures

Canvas is a Menlo Park-based venture capital firm focused on making early-stage investments in software and services. Spun out from Morgenthaler Ventures in August 2013, Canvas was initially managed by Rebecca Lynn, Gary Little and Gary Morgenthaler. Paul Hsiao joined as general partner in May 2014. Previous to Canvas, these partners led early investments in companies such as Lending Club, Evernote, Siri, Houzz, MuleSoft, Elance-oDesk, and Doximity. Canvas has made four investments since raising its inaugural fund; these include CrowdFlower, FutureAdvisor, HealthLoop, and Totango. With its thesis-based approach to investing, Canvas continues to establish itself as the go-to VC firm for enterprise SaaS, financial services, digital health, marketplaces, big data, and machine learning.

Headquarters Location

3200 Alpine Road

Portola Valley, California, 94028,

United States

650-388-7600

Are you an investor?
Submit your portfolio details now to be considered in our investor rankings.

Research containing Canvas Ventures

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Canvas Ventures in 1 CB Insights research brief, most recently on Nov 10, 2021.

Latest Canvas Ventures News

OfferFit: Automated Experimentation Platform Company Raises $25 Million

Dec 3, 2023

OfferFit – a marketing technology company empowering marketers to replace traditional A/B testing with automated experimentation – recently announced a $25 million Series B funding round led by Menlo Ventures. Ridge Ventures joined the round with earlier investors Canvas Ventures, Harmony Partners, Alumni Ventures Group, Carbide Ventures, and Burst Capital. Capital One Ventures (the strategic investment arm of Capital One) also participated in the round following Capital One’s success with OfferFit. JP Sanday from Menlo Ventures joined the board, with Alexander Rosen from Ridge Ventures joining as an observer. OfferFit will use this funding round to scale while also investing in product development. OfferFit’s reinforcement learning AI accelerates experimentation for lifecycle marketers as it continuously learns and adapts in response to customer actions. And enterprises such as MetLife, Foxtel Group, and Brinks Home have adopted OfferFit’s AI to automate experimentation. Companies have recognized that loyal customers can be powerful advocates and create a flywheel effect. And as costs to attract new customers skyrocket, referral sources and targeted campaigns that harness AI offer more efficient avenues for growth. KEY QUOTES: “Marketing is undergoing a tectonic shift. AI makes it easy to create content, but how do you measure what is effective? The real power comes from leveraging AI with automated experimentation. OfferFit is the torchbearer in this space, helping businesses leverage 1:1 personalization to optimize critical lifecycle marketing campaigns like cross-sell, upsell, retention, referral, and winback.” — JP Sanday, Partner at Menlo Ventures “Today, personalization is table stakes and leveraging AI-based experimentation platforms like OfferFit to automate learning is key to getting personalization right. This enables faster generation of data-driven insights into our customer preferences, allowing us to create more tailored offers and content, and lifting engagement.” — Aparna Sarin, Chief Marketing Officer for Business Cards & Payments at Capital One “We have invested in multiple successful AI companies, and we knew OfferFit had the potential to build a meaningful AI enterprise. OfferFit is on pace to triple this year, and they’ve never churned a customer, with every existing customer either expanding or in active discussions to do so.” — Mike Ghaffary, General Partner at Canvas Ventures – who led OfferFit’s Series A round “We’ll use this funding to continue to scale, of course. But we’ll also invest heavily in our product. We’re making OfferFit quicker and easier to deploy, and giving marketers more tools to leverage the insights they gain from automating experimentation.” — OfferFit’s co-founder & CEO George Khachatryan Sponsors

Canvas Ventures Investments

99 Investments

Canvas Ventures has made 99 investments. Their latest investment was in OfferFit as part of their Series B on November 11, 2023.

CBI Logo

Canvas Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/14/2023

Series B

OfferFit

$25M

No

3

11/9/2023

Growth Equity

Vida Health

$28.5M

No

3

9/6/2023

Series B - II

FOSSA

$4.5M

No

1

7/31/2023

Unattributed

Subscribe to see more

$99M

Subscribe to see more

10

6/22/2023

Series F - II

Subscribe to see more

$99M

Subscribe to see more

10

Date

11/14/2023

11/9/2023

9/6/2023

7/31/2023

6/22/2023

Round

Series B

Growth Equity

Series B - II

Unattributed

Series F - II

Company

OfferFit

Vida Health

FOSSA

Subscribe to see more

Subscribe to see more

Amount

$25M

$28.5M

$4.5M

$99M

$99M

New?

No

No

No

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

3

3

1

10

10

Canvas Ventures Portfolio Exits

14 Portfolio Exits

Canvas Ventures has 14 portfolio exits. Their latest portfolio exit was Casetext on June 26, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/26/2023

Acquired

$99M

3

1/11/2023

Acquired

$99M

12

6/1/2022

Acquired

$99M

2

11/19/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

10/20/2021

Acq - Fin

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/26/2023

1/11/2023

6/1/2022

11/19/2021

10/20/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acq - Fin

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

3

12

2

10

10

Canvas Ventures Fund History

3 Fund Histories

Canvas Ventures has 3 funds, including Canvas Ventures 3.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/30/2021

Canvas Ventures 3

$350M

3

9/26/2016

Canvas Ventures 2

Subscribe to see more

Subscribe to see more

$99M

10

9/12/2013

Canvas Ventures 1

Subscribe to see more

Subscribe to see more

$99M

10

Closing Date

3/30/2021

9/26/2016

9/12/2013

Fund

Canvas Ventures 3

Canvas Ventures 2

Canvas Ventures 1

Fund Type

Subscribe to see more

Subscribe to see more

Status

Subscribe to see more

Subscribe to see more

Amount

$350M

$99M

$99M

Sources

3

10

10

Canvas Ventures Team

6 Team Members

Canvas Ventures has 6 team members, including current Founder, General Partner, Paul Hsiao.

Name

Work History

Title

Status

Paul Hsiao

Founder, General Partner

Current

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Name

Paul Hsiao

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Work History

Title

Founder, General Partner

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Current

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Compare Canvas Ventures to Competitors

Kleiner Perkins Caufield & Byers Logo
Kleiner Perkins Caufield & Byers

Kleiner Perkins Caufield & Byers (KPCB) is a venture capital firm based in Menlo Park, CA that primarily focuses its global investments in practice areas including technology and life sciences.

Pioneer Square Labs Logo
Pioneer Square Labs

Pioneer Square Labs is a venture studio that creates its startups. It engages its venture capital and angel investor base to provide initial funding for these spin-outs. The company was founded in 2015 and is based in Seattle, Washington.

Sequoia Capital Logo
Sequoia Capital

Sequoia is a venture capital firm. It seeks to invest in companies operating in the information technology, healthcare, manufacturing, mobile, nanotechnology, financial service, internet, energy, media, and retail sectors. The company was founded in 1972 and is based in Menlo Park, California.

L
Lightspeed Venture Partners

Lightspeed Venture Partners operates as an early-stage venture capital firm. It focuses on accelerating disruptive innovations and trends in the enterprise and consumer sectors. It was founded in 2000 and is based in Menlo Park, California.

Cervin Logo
Cervin

Cervin is an early-stage venture capital firm that focuses on the enterprise sector. The company’s partners actively work with early-stage founders and product visionaries to design, build, and bring technologies to market. It was founded in 2011 and is based in Palo Alto, California.

SyndicateRoom Logo
SyndicateRoom

SyndicateRoom is an online equity crowdfunding platform that allows its members to co-invest in exciting companies with seasoned investors.

Loading...

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.