Binary Capital

Binary Capital focuses on early stage investments in companies focused on consumer technologies.

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Updated: Feb 17, 2026 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Feb 1, 2025	Baseten	$75.0M Series C	—	01 Advisors, 9Yards Capital, Abstract Ventures, Acrew Capital, Addition, Andreessen Horowitz, B8, Bain Capital Ventures, basecase capital, Bessemer Venture Partners, Bond, C2 Investment, Conviction Partners, Factorial, General Catalyst, Gradient Ventures, Greylock, Sangeen Zeb, Hoxton Ventures, Infinite Capital, IVP, LGF, Liquid 2 Ventures, Scott Sandell, NewView Capital, Pioneer Fund, Plaid, Predictive VC, Qiming Venture Partners, Race Capital, Redpoint Ventures, Sequoia Capital, South Park Commons, Spark Capital, Stellation Capital, Symbolic Capital, Jarrod Dicker, Uncork Capital, Weekend Fund, Y Combinator, Akshay Kothari, Charles Zedlewski, Cristina Cordova, DJ Patil, Dylan Field, Evan Cheng, George Burke, Greg Brockman, Peter Reinhardt, Ron Pragides, Scott Belsky, Will Gaybrick, Zachary Sims
Mar 1, 2023	Finsire	$1.0M Seed	—	AngelList, Polygon
Sep 1, 2022	TruckSmarter	$25.0M Series B	—	01 Advisors, Andreessen Horowitz, Bain Capital Ventures, Canary Ventures, Creandum, Founders Fund, LGF, Scott Sandell, NewView Capital, Picus Capital, Race Capital, Rackhouse Venture Capital, Tiger Global Management, Trifecta Growth Equity, Aaron Levie, Bill Tai, Brian Barnes, Carlos Julio Garcia, Kulpreet Singh, Michael Stoppelman, Nico Barawid, Zachary Sims
Apr 1, 2022	Flippy	$1.0M Seed	—	Amplify.LA, Josh Elman
Apr 1, 2022	Vested Finance	$12.0M Series A	—	Bling Capital, Craft Ventures, Khosla Ventures, Silicon Badia, Y Combinator, Jeremy Stoppelman, Sam Altman, Tikhon Bernstam
Jun 1, 2021	Thumbtack	$280.0M Series G	—	CapitalG, CRV, DFJ, Expa, General Catalyst, Greylock, Index Ventures, IVP, Kapor Capital, Melvina Ventures, NEO, Next Play Ventures, Otherwise Fund, Pace Capital, Sequoia Capital, Seven Seven Six, Tiger Global Management, Y Combinator, Adrian Aoun, Charlie Songhurst, David Marcus, Drew Houston, Farzad Nazem, Gabriel Naouri, Hadi Partovi, Henry Kravis, Jeff Bezos, Jeffrey Wilke, Joshua Reeves, Joshua Schachter, Marc Benioff, Nicolas Berggruen, Noosheen Hashemi, Sam Altman, Shane Neman, Tom Chapman, Tyler Willis
Feb 1, 2021	Good Eggs	$100.0M Series D	—	Benchmark, Craft Ventures, CRV, Decibel Partners, DFJ, Great Oaks Venture Capital, GSV Acceleration, Index Ventures, Kickstart Fund, MATH Venture Partners, Melvina Ventures, Next Play Ventures, Obvious Ventures, Otherwise Fund, Pace Capital, Plum Alley Investments, S2G Ventures, Seven Seven Six, Tiger Global Management, Y Combinator, David Marcus, Drew Houston, Jason Henrichs, Jeremy Stoppelman, Joshua Reeves, Joshua Schachter, Marc Benioff, Nicolas Berggruen, Sam Altman, Tyler Willis
Feb 1, 2021	Vested Finance	$4.0M Seed	—	Bling Capital, Craft Ventures, Khosla Ventures, Silicon Badia, Y Combinator, Jeremy Stoppelman, Sam Altman, Tikhon Bernstam
May 1, 2020	Vantage Point	$3.0M Seed	—	ACME Capital, Babel Ventures, BoxGroup, Catapult Capital, Cherubic Ventures, ENIAC Ventures, General Catalyst, Lightspeed Venture Partners, Offline Ventures, Presence Capital, Quiet Capital, Slow Ventures, Tribe Capital, Venrock, Winklevoss Capital, Alison Pincus, Joe Greenstein, Mark Pincus, Ryan Sarver, Shervin Pishevar
Nov 1, 2019	Vouch	$45.0M Series B	—	2.12 Angels, 9Yards Capital, Kevin Hartz, Accel, Acrew Capital, Adverb Ventures, Alumni Ventures, AME Cloud Ventures, Amity Ventures, Audrey Capital, Benchstrength, Blitzscaling Ventures, Bloomberg Beta, Bond, Broadway Angels, C2 Investment, CapitalG, Climate Capital, Coatue, Cota Capital, Craft Ventures, CRV, Daffy, Dell Technologies Capital, DFJ, Dragoneer Investment Group, Flex Capital, FPV Fund, General Catalyst, Goat Capital, Hardware Club, Heretic Ventures, Hoxton Ventures, Humbition, Incite Ventures, Index Ventures, Ligature, LOI Venture, Melvina Ventures, Modern Venture Partners, Tony Florence, Otherwise Fund, Outrun Ventures, Pace Capital, Passion Capital, Pear VC, Quiet Capital, Redpoint Ventures, SciFi VC, Seven Seven Six, Sherpalo Ventures, Sound Ventures, South Park Commons, SV Angel, Tiger Global Management, Tribe Capital, Y Combinator, Aaron Levie, Aaron Patzer, Aston Motes, Brett Topche, Charlie Cheever, Clara Shih, David Marcus, Deepak Jeevan Kumar, Dharmesh Shah, Doug Sleeter, Drew Houston, Eric Ries, Hiten Shah, Jared Leto, Jeff Seibert, Jeremy Stoppelman, Josh Silverman, Joshua Reeves, Joshua Schachter, Justin Rosenstein, Kris Duggan, Larry Augustin, Louis Beryl, Marco Zappacosta, Matt Mickiewicz, Phil Libin, Roger Bamford, Sam Altman, Seth Sternberg, Taz Patel, Tien Tzuo, Tobias Lutke, Tyler Willis, Wayne Chang
Sep 1, 2019	Kapwing	$11.0M Series A	—	20VC, Albion VC, Andreessen Horowitz, CapitalG, Casa Verde Capital, Core Innnovation Capital, CRV, DFJ, Global Founders Capital, Index Ventures, Melvina Ventures, Nexus Venture Partners, Oak HC/FT, Otherwise Fund, Pace Capital, Pear VC, Seven Seven Six, Sinai Ventures, Stride VC, Tiger Global Management, Ulu Ventures, Vine Ventures LP, Y Combinator, Akshay Kothari, David Marcus, Girish Mathrubootham, Howard Schultz, Joshua Reeves, Joshua Schachter, Justin Mateen, Sam Altman, Thomas Noonan, Tyler Willis
Dec 1, 2018	Iris Nova	$15.0M Seed	—	8-Bit Capital, A Capital, Alsop Louie Partners, Altimeter Capital, Battery Ventures, Bora&Sons, DCM, Matt Ocko, Zachary Bogue, Dragoneer Investment Group, Draper Associates, DST Global, Goat Capital, Joe Kraus, Klossy, Ludlow Ventures, Hans Tung, Quiet Capital, Revolution, Seven Seven Six, Sherpalo Ventures, Sound Ventures, SV Angel, Third Kind Ventures, Tiger Global Management, TQ Ventures, Vayner RSE, Vision/Capital/People (VCP), Y Combinator, Emmett Shear, Erik Moore, Kyle Vogt, Marc Benioff, Mark Wahlberg, Michael Levit, Ronny Conway, Shane Battier, Shervin Pishevar, Steve Aoki, Tien Tzuo
Oct 1, 2018	VideoKen	$930K Seed	—	Avalon Ventures, SRI Capital, Tekton Ventures, Union Square Ventures, Jared Kopf, Jeff Clarke, Josh Silverman, Konstantin Othmer, Lisa Gansky, Mark Pincus, Michael G. Rubin, Richard Branson, Robert Goldberg
Jun 1, 2018	WaterBit	$11.0M Series A	—	01 Advisors, Andreessen Horowitz, Bain Capital Ventures, New Enterprise Associates, NewView Capital, Race Capital
May 1, 2018	Good Eggs	$50.0M Series C	—	Benchmark, Craft Ventures, CRV, Decibel Partners, DFJ, Great Oaks Venture Capital, GSV Acceleration, Index Ventures, Kickstart Fund, MATH Venture Partners, Melvina Ventures, Next Play Ventures, Obvious Ventures, Otherwise Fund, Pace Capital, Plum Alley Investments, S2G Ventures, Seven Seven Six, Tiger Global Management, Y Combinator, David Marcus, Drew Houston, Jason Henrichs, Jeremy Stoppelman, Joshua Reeves, Joshua Schachter, Marc Benioff, Nicolas Berggruen, Sam Altman, Tyler Willis
Feb 1, 2018	Bird	$100.0M Series B	—	ACME Capital, Matt Ocko, Foundation Capital, Goat Capital, Index Ventures, Khosla Ventures, Presence Capital, Spark Capital, ThirdLove, Uprising, Y Combinator, Eric Ries, Shervin Pishevar, Acrew Capital, Ajay Shah, Aleph VC, Balderton Capital, Bow Capital, Craft Ventures, Draper Associates, General Catalyst, Goldcrest Capital, Guy Harmelin, OurCrowd, Plug & Play Ventures, S Capital VC, Thompson Hutton (Thompson Hutton), Tom Hulme, TSVC Capital, Tusk Venture Partners
Feb 1, 2018	Dynamic Signal	$37.0M Series E	—	10100, ACME Capital, Adams Street Partners, AllegisCyber Capital, Bessemer Venture Partners, BoxGroup, Canvas Ventures, Catapult Capital, Chemistry VC, Cherubic Ventures, Crosslink Capital, DocuSign, ENIAC Ventures, Felicis Ventures, Flex Capital, Freestyle Capital, Gaingels, General Catalyst, Industry Ventures, K9 Ventures, Lightspeed Venture Partners, Offline Ventures, Presence Capital, Quest Venture Partners, Quiet Capital, Radical Ventures, Rembrandt Venture Partners, Slow Ventures, TCV, Tribe Capital, Trinity Ventures, Venrock, Winklevoss Capital, Alison Pincus, Gary Kremen, Joe Greenstein, Mark Pincus, Ryan Sarver, Shervin Pishevar
Oct 1, 2017	Microbiome Therapeutics	$1.0M Series B	—	Bling Capital, Craft Ventures, Khosla Ventures, Silicon Badia, Y Combinator, Gil Elbaz, Sam Altman, Tikhon Bernstam
Sep 1, 2017	Camino	$4.0M Seed	—	ACME Capital, Baseline Ventures, Blackhorn Ventures, Blank Ventures, BoxGroup, BrightCap Ventures, Brighton Park Capital, Catapult Capital, Cherubic Ventures, Clocktower Technology Ventures, Deciens Capital, ENIAC Ventures, Fathom Capital, General Catalyst, Govtech Fund, Jacob Conger, H/L Ventures, iNovia Capital, Jetstream, Lightspeed Venture Partners, Offline Ventures, Presence Capital, Quiet Capital, S28 Capital, Slow Ventures, Stellar Capital, Third Sphere, Tribe Capital, Uncorrelated Ventures, Venrock, Winklevoss Capital, Zero Infinity Partners, Alison Pincus, Joe Greenstein, Mark Pincus, Ryan Sarver, Shervin Pishevar
Sep 1, 2017	Paravision	$16.0M Series B	—	Bling Capital, Craft Ventures, Khosla Ventures, Silicon Badia, Y Combinator, Gil Elbaz, Jeremy Stoppelman, Sam Altman, Tikhon Bernstam
Aug 1, 2017	Gigster	$20.0M Series B	—	500 Global, ACME Capital, Chloe Sladden, BoxGroup, Catapult Capital, Cherubic Ventures, ENIAC Ventures, General Catalyst, Lightspeed Venture Partners, Luv Ventures, Moxxie Ventures, Offline Ventures, Presence Capital, Quiet Capital, Raine Ventures, Red Sea Ventures, Red Swan Ventures, Ribbit Capital, Scribble Ventures, Slow Ventures, Translink Capital, Tribe Capital, Venrock, Winklevoss Capital, Alison Pincus, Bradley Horowitz, David Marcus, Greg Brockman, Javier Olivan, Jeff Arnold, Joe Greenstein, Mark Pincus, Mike Krieger, Shervin Pishevar
Jun 1, 2017	Topia	$48.0M Series C	—	01 Advisors, Andreessen Horowitz, Bain Capital Ventures, Christian Miele, Scott Sandell, NewView Capital, Notion Capital, Race Capital
Apr 1, 2017	BacklotCars	$5.0M Seed	—	AME Cloud Ventures, Andreessen Horowitz, Army Venture Capital Corp., Ballistic Ventures, Bling Capital, Bonin Ventures, Craft Ventures, Emergence Capital, Fifth Wall, Founders Co-op, FPV Fund, Great Oaks Venture Capital, Hardware Club, Hoxton Ventures, KCRise Fund, Khosla Ventures, Montage Ventures, Pareto Holdings, PivotNorth Capital, Pnina International, Portland Seed Fund, Sequoia Capital, Serena Ventures, Silicon Badia, TechSquare Labs, TNT Venture, Transmedia Capital, Tribe Capital, Trust Ventures, UpHonest Capital, Visionaire Ventures, XG Ventures, Y Combinator, Andre Iguodala, don katz, Erik Moore, Gary Rubens, Gil Elbaz, Jacob Chapman, Jeremy Stoppelman, Kara Egan, Konstantin von Unger, Sam Altman, Tikhon Bernstam, Zain Jaffer
Apr 1, 2017	VideoKen	$1.0M Seed	—	Avalon Ventures, SRI Capital, Tekton Ventures, Union Square Ventures, Jared Kopf, Jeff Clarke, Josh Silverman, Konstantin Othmer, Lisa Gansky, Mark Pincus, Michael G. Rubin, Richard Branson, Robert Goldberg
Feb 1, 2017	Quill	$2.0M Seed	—	Bling Capital, Craft Ventures, Khosla Ventures, Silicon Badia, Y Combinator, Gil Elbaz, Jeremy Stoppelman, Tikhon Bernstam

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Binary Capital.

Leadership Team

Key people at Binary Capital.

Deep Dive

High-Level Overview

Binary Capital was an early-stage venture capital firm based in San Francisco that focused primarily on investing in consumer technology startups. Its mission centered on identifying and supporting promising early-stage companies that develop innovative consumer-facing technologies. The firm’s investment philosophy emphasized backing startups with strong founding teams and scalable consumer products, typically in sectors like internet services and photography. Binary Capital played a notable role in the startup ecosystem by providing early capital and strategic support to emerging consumer tech companies, helping them grow and scale during critical early phases[1][2][4].

Origin Story

Founded in 2014 by Jonathan Teo and Justin Caldbeck, Binary Capital emerged from the partners’ prior experience at established venture firms such as General Catalyst Partners, Benchmark Capital, Lightspeed Venture Partners, and Bain Capital Ventures. The founders leveraged their industry expertise to focus on early-stage consumer technology investments. The firm raised its first fund with $125 million in assets under management and planned a second fund of $175 million. However, the firm’s trajectory was disrupted in 2017 when co-founder Justin Caldbeck faced sexual harassment allegations, leading to his resignation and the eventual winding down of the second fund. Despite this, the first fund continued under Jonathan Teo’s leadership until management was taken over by Lerer Hippeau in 2018[1][2].

Core Differentiators

Unique Investment Model: Focused exclusively on early-stage consumer technology startups, with a preference for companies aged 4-5 years and smaller founding teams.
Network Strength: Strong connections with prominent investors and accelerators such as Y Combinator, Lowercase Capital, and Lerer Hippeau, often co-investing in rounds.
Track Record: Managed a $125 million first fund with investments in notable startups like Havenly, Atrium LTS, and Educents.
Operating Support: Provided strategic guidance and leveraged partners’ venture capital experience to help portfolio companies scale effectively[1][2].

Role in the Broader Tech Landscape

Binary Capital operated during a period of rapid growth in consumer internet and mobile technologies, riding the wave of increased consumer adoption of digital services. The firm’s timing aligned with a broader market trend favoring early-stage investments in consumer tech, where innovative user experiences and scalable platforms were highly valued. By focusing on this niche, Binary Capital contributed to the ecosystem by fueling startups that aimed to disrupt traditional consumer markets with technology-driven solutions. Its partnerships with accelerators and other VCs helped create a collaborative environment that accelerated innovation in the consumer tech space[1][2].

Quick Take & Future Outlook

Following the scandal and subsequent leadership changes, Binary Capital ceased to operate independently, with its funds absorbed by other firms like Lerer Hippeau. The firm’s early focus on consumer technology remains a relevant investment theme, as consumer behavior continues to evolve with new digital platforms and technologies. Future trends shaping this space include AI-driven consumer experiences, personalized services, and mobile-first innovations. While Binary Capital itself no longer operates, its legacy underscores the importance of ethical leadership and the impact early-stage investors have on shaping the consumer tech landscape[1].

Sources

High-Level Overview

Origin Story

Core Differentiators

Unique Investment Model: Focused exclusively on early-stage consumer technology startups, with a preference for companies aged 4-5 years and smaller founding teams.
Network Strength: Strong connections with prominent investors and accelerators such as Y Combinator, Lowercase Capital, and Lerer Hippeau, often co-investing in rounds.
Track Record: Managed a $125 million first fund with investments in notable startups like Havenly, Atrium LTS, and Educents.
Operating Support: Provided strategic guidance and leveraged partners’ venture capital experience to help portfolio companies scale effectively[1][2].