# Bullpen Capital

> Bullpen Capital is a VC fund in Menlo Park backing Software and SaaS. See 184 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Menlo Park, United States
- Total investments: 184
- Last investment: Jun 2026
- Lead investor: 38%
- Fund size: $145M
- Last fund: Dec 2022
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/company/bullpen-capital
- X (Twitter): http://twitter.com/bullpencap
- Website: http://bullpencap.com
- Facebook: http://www.facebook.com/bullpencapital

Bullpen Capital is a VC fund in Menlo Park focused on Software and SaaS. Bullpen is a venture capital fund that invests in post-seed capital into early-stage companies.Bullpen Capital launched 10 years ago, the goal was to back overlooked entrepreneurs left behind by the latest Silicon Valley fads. The firm's portfolio spans all categories from fantasy sports to data center equipment to restaurant SaaS.Bullpenwas founded in 2010 by Paul Martino and is based in San Francisco, California, United States.

## Contacts

5 contacts available for Bullpen Capital. Shizune tracks 8 team members at Bullpen Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/bullpen-capital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1.5M–$13M |
| Series A | $4M–$24M |
| Series B | $4M–$65M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 33 | 18% |
| SaaS | 17 | 9% |
| Mobile | 15 | 8% |
| E-Commerce | 12 | 7% |
| Enterprise Software | 11 | 6% |

193 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 64 | 35% |
| Seed | 35 | 19% |
| Series B | 23 | 13% |
| Funding Round | 18 | 10% |
| Series C | 10 | 5% |

9 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 100 | 54% |
| Canada | 4 | 2% |
| Brazil | 1 | 1% |
| Mexico | 1 | 1% |
| Ireland | 1 | 1% |

7 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Andrew Trader | Operating Partner & Head of Platform | 0 | https://shizune.co/investors/profile/andrew-trader |
| Anna Zakharchenko | Associate | 0 | https://shizune.co/investors/profile/anna-zakharchenko |
| Ann Lai | General Partner | 9 | https://shizune.co/investors/profile/ann-lai-af3e |
| Bert Navarrete | Venture Partner | 1 | https://shizune.co/investors/profile/bert-navarrete |
| Duncan Davidson | Co-founder & General Partner | 16 | https://shizune.co/investors/profile/duncan-davidson |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| EDGE Markets | EDGE Markets provides financial infrastructure designed for trading, gaming, and other alternative financial markets, supporting both institutional and consumer participants. The company offers banking, payment, settlement, and capital movement solutions tailored for environments that require high-frequency, real-time transactions. Its platformincludes products such as EDGE Connect, a private payments and settlement network, and EDGE Pro, a banking platform for market makers and institutional investors operating in regulated markets. EDGE Markets also develops specialized debit and banking services intended to facilitate deposits, withdrawals, liquidity management, and transaction tracking while incorporating compliance and responsible-use controls. Through its integrated financial infrastructure, the company aims to improve the efficiency of payments, settlements, and capital flows across gaming, prediction, crypto, and trading ecosystems. | $29.2M | Series A | Jun 08, 2026 |  |
| SpeedLabs | SpeedLabs is a real-time market engine for sports and creates and prices new markets in seconds. | $6.5M | Seed | Jun 01, 2026 |  |
| BetHog | BetHog is a new crypto sports book that brings home the bacon. | $10M | Series A | Apr 22, 2026 |  |
| Flip CX | The holy grail of customer service is high quality affordable phone support. Previously? Impossible. Now? Easy. | $20M | Series A | Jan 13, 2026 |  |
| Ciphero AI | Ciphero is the first AI Verification Layer that collects, verifies, and governs all corporate AI interactions, promoting safe and ethical AI use across all enterprises. | $3.3M | Pre-Seed | Dec 18, 2025 |  |
| EDGE Markets | EDGE Markets provides financial infrastructure designed for trading, gaming, and other alternative financial markets, supporting both institutional and consumer participants. The company offers banking, payment, settlement, and capital movement solutions tailored for environments that require high-frequency, real-time transactions. Its platformincludes products such as EDGE Connect, a private payments and settlement network, and EDGE Pro, a banking platform for market makers and institutional investors operating in regulated markets. EDGE Markets also develops specialized debit and banking services intended to facilitate deposits, withdrawals, liquidity management, and transaction tracking while incorporating compliance and responsible-use controls. Through its integrated financial infrastructure, the company aims to improve the efficiency of payments, settlements, and capital flows across gaming, prediction, crypto, and trading ecosystems. | $17.2M | Seed | Mar 24, 2025 |  |
| EDGE Markets | EDGE Markets provides financial infrastructure designed for trading, gaming, and other alternative financial markets, supporting both institutional and consumer participants. The company offers banking, payment, settlement, and capital movement solutions tailored for environments that require high-frequency, real-time transactions. Its platformincludes products such as EDGE Connect, a private payments and settlement network, and EDGE Pro, a banking platform for market makers and institutional investors operating in regulated markets. EDGE Markets also develops specialized debit and banking services intended to facilitate deposits, withdrawals, liquidity management, and transaction tracking while incorporating compliance and responsible-use controls. Through its integrated financial infrastructure, the company aims to improve the efficiency of payments, settlements, and capital flows across gaming, prediction, crypto, and trading ecosystems. | $17.2M | Seed | Mar 24, 2025 |  |
| Jolly | Jolly is a rewards platform for the workplace that incentivizes employee performance. It implements performance-based incentives to increase employees utilization, compliance, referrals, and loyalty. | $16.5M | Series A | Feb 10, 2025 |  |
| OneRail | OneRail is a final mile delivery orchestration platform providing real-time visibility, actionable data, and data-driven optimization capabilities for its enterprise clients. OneRail’s cloud-based “delivery switch” simplifies same-day and on-demand delivery execution by connecting the demand signal (POS, eCommerce, ERP) with the ecosystem ofdelivery networks and internal fleets in real-time. The result of OneRail’s centralized view of disparate final mile data enables data-driven optimization, positively impacting the dependability, speed, and cost of final mile fulfillment. | $42M | Series C | Nov 21, 2024 |  |
| BetHog | BetHog is a new crypto sports book that brings home the bacon. | $6M | Seed | Nov 12, 2024 |  |

10 of 184 investments shown.

## Co-investors
- [Salesforce Ventures](https://shizune.co/investors/profile/salesforce-ventures) — VC Fund, 11 deals together
- [Gaingels](https://shizune.co/investors/profile/gaing) — VC Fund, 10 deals together
- [Chicago Ventures](https://shizune.co/investors/profile/chicago-ventures) — VC Fund, 8 deals together
- [ValueStream Ventures](https://shizune.co/investors/profile/valuestream-labs) — VC Fund, 8 deals together
- [True Ventures](https://shizune.co/investors/profile/true-ventures) — VC Fund, 7 deals together
- [AlleyCorp](https://shizune.co/investors/profile/alleycorp) — VC Fund, 6 deals together

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## FAQ

### What does Bullpen Capital invest in?

Bullpen Capital invests primarily in Software, SaaS and Mobile startups, most often at Series A and Seed stage. Most of the 184 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Bullpen Capital's check size?

Bullpen Capital typically joins rounds of $1.5M–$13M at Seed, $4M–$24M at Series A and $4M–$65M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Bullpen Capital participates in.

### How do I contact Bullpen Capital?

Public channels for Bullpen Capital include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Bullpen Capital?

The team at Bullpen Capital includes Andrew Trader (Operating Partner & Head of Platform), Anna Zakharchenko (Associate) and Ann Lai (General Partner), among 8 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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