Battery Ventures is a global, technology-focused investment firm investing across the company lifecycle from Seed through Growth, with a broader platform that also spans buyouts. The firm is highly thesis-driven and research-first, concentrating on software-centric sectors where it can move quickly on strong teams and customer validation, especially across the U.S., Europe, and Israel.
Evaluation weights
How much weight this firm places on each dimension. Totals 100%.
Revenue, growth, and unit economics
Size, timing, and competitive landscape
Founder experience and execution ability
Differentiation and technical quality
- Biased toward thesis-aligned software markets over out-of-scope categories
- Will move quickly and lead when founder quality and market thesis are compelling
- Comfortable investing before a company is the category leader if customer signals are real
- Prefers recurring-revenue, software-enabled models over one-time or hardware-centric businesses
Pitch difficulty
How hard it is to get a meeting and close funding from this firm.
- Funded / yr
- 29Deals closed in a typical year.
- Led / yr
- 16Rounds led in the last 12 months.
- Pitches / yr
- ~39364Decks reviewed in a typical year.
- Acceptance rate
- 0.1%Share of pitches that get funded.
Estimated — public data is not fully disclosed.
Why it's hard
- Strict thesis alignment is required, especially in software-centric sectors
- Firm avoids pure biotech and pure consumer hardware opportunities
- High bar for exceptional, execution-oriented founding teams
- Global reputation and multi-stage platform create strong deal flow and competitive selection
Battery is broad by stage but highly selective within its technology sectors, filtering hard on thesis fit, founder quality, and software-centric business models. Its global brand, large fund base, and willingness to lead competitive rounds mean it can choose from strong inbound opportunities and move decisively only when conviction is high.
Green flags
What drives a yes for this firm.
- Clear alignment with an existing Battery sector thesis
- Exceptional, execution-oriented founders who can win a category
- Early customer validation and evidence of product pull
- Large, enduring software markets where technology creates long-term enterprise value
- Potential to become a category-defining platform, even before the company is the market leader
Red flags
What kills deals and gets a fast no.
- Being outside Battery's mandate, especially pure biotech or pure consumer hardware
- Weak thesis fit even if headline growth looks attractive
- Unconvincing or incomplete founding team
- Lack of customer validation or proof that the product solves a real pain point
- One-time, low-quality, or non-scalable revenue model inconsistent with software investing
How to win
Patterns that lead to successful pitches.
- Show crisp alignment with a Battery sector thesis rather than pitching a generic big market story
- Demonstrate strong founder execution and the ability to move fast in a large software category
- Bring concrete customer validation, even if revenue is still early
- Frame the company as a potential category leader in a market Battery already understands deeply
- Highlight how Battery's GTM, recruiting, and operating platform can accelerate the next phase
Fund strategy & identity
Who they are and how they operate.
- Invests across Seed, Series A, Series B, Series C, and Growth under one platform
- Focuses on Application Software, Infrastructure Software, Consumer tech, and Industrial Tech + Life-Science Tools
- Leads rounds opportunistically and moves fast when sector thesis and founder fit are strong
- Targets U.S., European, and Israeli companies from a six-office global network
- Supports portfolio companies with go-to-market, recruiting, BD, marketing, and finance resources
Firm identity
Investment focus
Industries, themes, and typical ARR expectations.
Industries
Investment themes
Typical check by stage
Typical ARR by stage
Investment thesis
Core beliefs and strategy behind their investing approach.
Battery Ventures is a global, technology‑focused investment firm that backs companies across all stages—from seed and early‑stage to growth and buyout—under a single platform. The firm concentrates on four core areas: Application Software, Infrastructure Software, Consumer, and Industrial Tech + Life‑Science Tools. Investment is sourced internationally from six offices (Boston, San Francisco, Menlo Park, New York, London, Tel Aviv) with a geographic focus on the United States, Europe, and Israel. Battery’s style is collaborative, research‑driven and long‑term; it frequently makes early, growth and buyout investments within the same tech sectors, providing portfolio services in go‑to‑market, talent, business development, marketing/communications, and finance/analytics. The flagship Battery Ventures XV fund, closed at $3.25 B, underscores the firm’s conviction that technology innovation creates enduring enterprise value and that a decisive partnership with founders at any stage compounds outcomes. While the firm’s charter is broad across technology, it explicitly avoids pure biotech and pure consumer hardware, concentrating instead on software‑enabled solutions.
Decision patterns
How they evaluate and make investment decisions.
Battery emphasizes a thesis‑driven, research‑first approach that enables rapid action when a founder aligns with its market outlook. The firm looks for strong alignment with its sector theses (e.g., emerging AI, mobile/omnichannel, SaaS), exceptional execution‑oriented founding teams, and clear customer validation—even if the company is not yet the market leader. Deal‑breakers include ventures outside its software focus such as pure biotech or consumer hardware, and opportunities lacking a compelling team or thesis fit. The firm’s fast‑track decisions, as illustrated by a 24‑hour term sheet for Kustomer and a lead Series C in Braze when revenue was under $10 M, show a weighting that privileges thesis fit and team quality over mature traction alone.
Risk appetite
Battery exhibits a selectively aggressive, conviction‑led posture within its technology domains. It is comfortable leading rounds and taking board seats, as demonstrated by its lead investment in Braze’s Series C and board participation at Kustomer. With a stage‑agnostic mandate and a $3.25 B flagship fund, the firm writes checks from $1 M to $500 M, spanning seed to buyout. Its risk posture is not uniformly cautious; instead, it is guided by rigorous thesis discipline, strong customer signals, and high‑quality teams, using its extensive portfolio services to de‑risk execution post‑investment.
Notable investments
Key portfolio companies and why they fit the thesis.
- AmplitudeLeadCategory–defining product analytics platform that aligns with Battery’s focus on data–driven SaaS and enterprise software.
- SprinklrLeadEnterprise customer–experience software spanning social and digital channels, fitting Battery’s application–software and MarTech thesis.
- LogRocketLeadFrontend monitoring and app analytics tooling that sits at the intersection of developer–focused infrastructure and application software, core areas for Battery.
- MarketoMarketing–automation leader that matches Battery’s historical SaaS and go–to–market expertise.
- OmnitureDigital–analytics pioneer that complements Battery’s data–analytics and application–software investment focus.
- ExactTargetEnterprise marketing SaaS platform that aligns with Battery’s application–software and vertical–SaaS thesis.
- CoupaSpend–management SaaS solution fitting Battery’s enterprise–software and operational–efficiency investment themes.
- ITA SoftwareInfrastructure and data–software provider for travel, illustrating Battery’s interest in large–scale infrastructure tech.
Co-invested with
Other firms in this catalog who've backed the same companies.
Partners
Full firm roster — key partners, partners, and the wider team.
Key partners
Neeraj Agrawal
General Partner
Battery Ventures
General Partner at Battery Ventures focused on B2B software, cloud software, SaaS growth, and software companies across application, consumer, and infrastructure categories.
Chelsea Stoner
General Partner
Battery Ventures
General Partner at Battery Ventures focused on application software, vertical SaaS, and healthcare IT.
Morad Elhafed
General Partner
Battery Ventures
General Partner at Battery Ventures focused on growth and private-equity software investments, especially industry-specific software in North America and Europe.
Dharmesh Thakker
General Partner
Battery Ventures
General Partner at Battery Ventures focused on cloud infrastructure, data, security, open source, and next-generation enterprise applications.
Michael Brown
General Partner
Battery Ventures
General Partner at Battery Ventures with experience across enterprise software, financial services, and technology-enabled business services.
Partners
Shiran Shalev
Partner
Battery Ventures
Battery partner backing software, consumer and fintech companies.
Zak Ewen
Partner
Battery Ventures
Battery partner focused on software growth equity and buyouts.
Roland Anderson
Partner
Battery Ventures
Battery partner backing growth and later-stage software companies.
Marcus Ryu
General Partner
Battery Ventures
Battery GP investing in enterprise software, fintech and data services.
Barak Schoster Goihman
Partner
Battery Ventures
Battery Partner focused on cybersecurity, open source and PLG infrastructure software.
Max Schireson
Partner
Battery Ventures
Battery Partner backing AI, frontier tech and infrastructure software companies.
Russell Fleischer
General Partner
Battery Ventures
Former software CEO turned Battery GP focused on enterprise software.
Justin Rosner
Partner
Battery Ventures
Battery Partner investing in industrial tech and life-science tools.
Dave Tabors
Private Equity Partner
Battery Ventures
Battery Private Equity Partner focused on later-stage software investments.
Satoshi Harris-Koizumi
Partner
Battery Ventures
Battery partner focused on later-stage B2B software and SaaS.
Roger Lee
General Partner
Battery Ventures
Battery GP investing in consumer tech, marketplaces and software.
Jesse Feldman
General Partner
Battery Ventures
Battery GP leading industrial-tech and life-science-tools investing.
Scott Tobin
Senior Partner
Battery Ventures
Battery senior partner leading U.S., Israel and Europe tech investments.
Team
Peyton Lane
Associate
Battery Ventures
Battery associate focused on industrial-tech and life-science tools buyout and growth deals.
Arthur Andreev
Analyst
Battery Ventures
Battery analyst focused on growth and buyout investments in software companies.
Erin Ku
Analyst
Battery Ventures
Battery analyst focused on growth and buyout software investments.
Estelle Tessaro
Analyst
Battery Ventures
Battery analyst focused on private equity and growth equity software investments.
Zack Smotherman
General Partner
Battery Ventures
Battery general partner leading industrial-tech and life-science tools buyouts.
Alexander Hyldmar
Vice President
Battery Ventures
Battery VP focused on growth and later-stage software investments.
Russell Oppenheim
Associate
Battery Ventures
Battery associate focused on industrial-tech and life-science tools PE and growth equity.
Dominique (Nikki) Hassan
Associate
Battery Ventures
Battery associate investing in enterprise infrastructure, consumer and business software.
Evan Labuda
Associate
Battery Ventures
Battery associate focused on later-stage software growth equity and buyouts.
Genki LeClair
Analyst
Battery Ventures
Battery analyst focused on early- and growth-stage B2B SaaS companies.
Lawson Laverty
Analyst
Battery Ventures
Battery analyst focused on growth and buyout software investments.
Hailey Wilcox
Associate
Battery Ventures
Battery associate focused on early- and growth-stage software and AI companies.
Jack Mattei
Associate
Battery Ventures
Battery associate focused on early- and growth-stage technology companies.
Niall Murphy
Analyst
Battery Ventures
Battery analyst focused on early- and growth-stage companies across software and consumer sectors.
Devon Pasieka
Analyst
Battery Ventures
Battery analyst focused on early- and growth-stage software and consumer investments.
Maximilian Jessen
Vice President
Battery Ventures
Battery VP focused on software and industrial-tech growth-equity and buyout deals.
Bridget Bernardo
Associate
Battery Ventures
Battery associate focused on late-stage software, industrial tech and life-science tools.
Caroline Culmo
Analyst
Battery Ventures
Battery analyst investing in cloud, data, security and enterprise applications.
Olivia Henkoff
Vice President
Battery Ventures
Battery VP investing in software and infrastructure-technology companies.
Gavin Tasker
Vice President
Battery Ventures
Battery VP focused on growth and later-stage software investments.
Antonia Heiss
Vice President
Battery Ventures
Battery VP focused on European software, information-services and enterprise-tech growth investments.
Stefan Momic
Vice President
Battery Ventures
Battery VP investing in enterprise software, industrial tech and life-science tools.
Dawit Workie
Vice President
Battery Ventures
Battery VP focused on growth-equity and buyout investments in enterprise software.
Dillon Joyce
Principal
Battery Ventures
Battery principal focused on later-stage software growth equity and buyouts.
Noah Spiesz
Associate
Battery Ventures
Battery associate focused on growth and buyout software investments.
Max-Julian Kaye
Principal
Battery Ventures
Battery principal investing in late-stage software, industrial tech and life-science tools.
Jordan Bernstein
Associate
Battery Ventures
Battery associate focused on growth and later-stage software investments.
Becca Jones
Vice President
Battery Ventures
Battery VP focused on late-stage enterprise-software investments.
Jack Crockett
Associate
Battery Ventures
Battery associate focused on late-stage and buyout software investments.
Brandon Gleklen
Principal
Battery Ventures
Battery principal investing across enterprise and consumer software.
Brian Lieber
Principal
Battery Ventures
Battery investment professional focused on executive relationships for buyout investments.
Michael Hoeksema
Principal
Battery Ventures
Battery principal investing in mobile, internet and SaaS/software companies.
Sudhee Chilappagari
Principal
Battery Ventures
Battery principal backing SaaS, API, AI and infrastructure companies.
Megan Cardosi
Associate
Battery Ventures
Battery associate focused on buyout software investments.
Sholape Fashemo
Analyst
Battery Ventures
Battery analyst focused on early- and growth-stage software and consumer investments.
Collier Searle
Principal
Battery Ventures
Battery principal focused on growth and buyout software investments.
Lucas Maiman
Associate
Battery Ventures
Battery associate focused on early- and growth-stage technology investments.
Matt Dailey
Analyst
Battery Ventures
Battery analyst focused on early- and growth-stage investments.
Julia Craig
Analyst
Battery Ventures
Battery analyst focused on growth and buyout software investments.
Matthew Benda
Associate
Battery Ventures
Battery associate focused on enterprise software growth-equity and buyout investments.
Abhi Agrawal
Analyst
Battery Ventures
Battery analyst focused on cloud, data, security and enterprise apps.
Danel Dayan
Principal
Battery Ventures
Battery principal investing in cloud, data, security and enterprise applications.
Luis-Luca de Haas
Associate
Battery Ventures
Battery associate focused on software, information services and enterprise technology.
Lior Mallul
Principal
Battery Ventures
Battery principal investing in infrastructure, application software and fintech.
Page Wolfenden
Analyst
Battery Ventures
Battery analyst focused on industrial-tech and life-science-tools growth and buyout deals.
Thomas Marchioni
Analyst
Battery Ventures
Battery analyst focused on software private equity and growth equity in London.
Aaron Neil
Vice President
Battery Ventures
Battery VP focused on early- and growth-stage B2B AI and SaaS.
Public voice
Notable statements and public positions.
- We are decisive, hard‑working and thesis‑driven investors.
- As we move forward, we’re armed with $3.25 billion in fresh capital… we’ll continue our strategy of backing global technology standouts across the stage spectrum, from seed and early to growth and buyout… AI is no longer a category—it’s a baseline baked into virtually every technology product being developed today.
- Standing side‑by‑side with early‑stage, cloud founders on their path to an IPO is a huge privilege.
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