# Dropbox Ventures

> Dropbox Ventures is a VC fund in San Francisco backing Software and Artificial Intelligence. See 11 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: San Francisco, United States
- Total investments: 11
- Last investment: Nov 2025
- Lead investor: 45%
- Fund size: $50M
- Last fund: Jun 2023
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/dropbox
- Website: https://www.dropbox.com/ventures

Dropbox Ventures is a corporate VC arm of Dropbox that seeks to invest in early-stage of AI startups.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 9 | 82% |
| Artificial Intelligence | 4 | 36% |
| SaaS | 2 | 18% |
| Machine Learning | 2 | 18% |
| Enterprise Software | 2 | 18% |

29 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 5 | 45% |
| Series A | 3 | 27% |
| Series C | 1 | 9% |
| Funding Round | 1 | 9% |
| Venture - Series Unknown | 1 | 9% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 9 | 82% |
| Switzerland | 1 | 9% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Momentic | Momentic enables developers to deploy AI agents to test web apps end-to-end. Just describe user flows using natural language. | $15M | Series A | Nov 24, 2025 |  |
| Multimodal | Multimodal is a NYC-based generative AI company focused on complex workflow automation. We develop generative AI agents using large language models to automate manual, repetitive knowledge-based workflows involving documents and databases.Commons applications include document classification and processing ("Document AI"), makingdecisions using multiple data streams ("Decision AI"), retrieving information from documents and databases for end users via a conversational interface ("Conversational AI" and "Database AI"), and generating new content based on company-specific data ("Content AI"). We are primarily focused on the banking and insurance sector today (underwriting, claims processing, KYC, KYB, income & identity verification workflows), but we also operate in healthcare, legal, real estate, and technology. To learn more, visit us at www.multimodal.dev. |  | Seed | Jul 03, 2025 |  |
| Onlook | Onlook is turning every product team into an engineering team. Onlook is equipping the next generation of builders with the ultimate tool for collaborating in code. Onlook offers software development tools that could potentially empower non-engineers to contribute to software products. |  | Seed | Jul 03, 2025 |  |
| Fastino | Fastino provides enterprise AI developers with high-performance, task-optimized language models built to scale. |  | Seed | Jul 03, 2025 |  |
| TextQL | TextQL is a platform that simplifies the data-to-insight process for organizations. The platform indexes BI tools and semantic layers, documents data in dbt, and uses OpenAI and language models to provide self-serve power analytics. With TextQL, non-technical users can easily and quickly work with data by asking questions in their work context(Slack/Teams/email) and getting automated answers quickly and safely. The platform also leverages NLP and semantic layers, including the dbt Labs semantic layer, to ensure reasonable solutions. TextQL's elegant handoffs to human analysts, when required, dramatically simplify the whole question-to-answer process with AI. |  | Seed | Jul 03, 2025 |  |
| Halcyon | OUR MISSION: DEFEAT RANSOMWAREModern defensive cyber solutions, while impressive, have failed in the face of cheap and easy-to-create – and most importantly lucrative – ransomware. High-profile breaches are disguising an ugly fact; the companies using next-generation NGAV and EPP solutions continue to be impacted by ransomware Halcyon has builtthe first anti-ransomware engine to tackle this problem. Our team has spent decades building name-brand security products and delivering security consulting to much of the Fortune 500.Split between San Diego, CA and Austin, TX, Halcyon was formed in 2021 by a team of cyber industry veterans after battling the scourge of ransomware (and advanced threats) for years at some of the largest security global security vendors. Comprised of leaders from Cylance (now Blackberry), Accuvant (now Optiv), and ISS X-Force (now IBM), Halcyon is focused on building products and solutions for mid-market and enterprise customers.For more info, please contact: press@halcyon.ai | $100M | Series C | Nov 25, 2024 |  |
| Highnote | Highnote is creating a platform for musicians and podcasters to collaborate. It enables musicians, podcasters, and other creators to collaborate on audio files by recording voice notes directly over a track, creating timestamped reactions, and polling for feedback. It aspires to be a one-stop shop for musicians, podcasters, and their collaboratorsto listen to audio files and have conversations.Highnote is completely free to use and does not require a download. Users can create an account by visiting www.highnote.fm, which is accessible from any device. | $2.5M | Venture - Series Unknown | Oct 23, 2024 |  |
| Bardeen | Bardeen is a no-code workflow automation tool that helps users to do productive businesses using technology for automating their workflow. It develops an application software to replace repetitive tasks with a single shortcut and control web applications and also assists in connecting diverse services.Users download its browser extension andselect from a range of pre-built automation tasks they want to automate including copying information from apps into a spreadsheet, scraping data from the web, and reminding participants about an upcoming meeting. Additionally, users can create their own custom automation workflows or modify pre-built ones to fit their exact needs. | $3M | Venture - Series Unknown | Aug 08, 2024 |  |
| Lakera | Lakera is a real-time GenAI security company. The company is dedicated to ensuring the safe and responsible development and deployment of artificial intelligence technologies. To accelerate the secure adoption of AI, the company developed Gandalf, an educational tool that has taught over one million users about AI security. Lakera leverages AI tocontinually evolve its defenses, enabling customers to stay ahead of emerging threats. | $20M | Series A | Jul 24, 2024 |  |
| LightBeam.ai | LightBeam.ai is a pioneer in the data security and privacy automation category, LightBeam is on a mission to empower organizations to manage and access their sensitive data securely. Leveraging its identity-centric discovery & classification engine, it ties data cataloging, access, and sharing into a unified privacy control tower. LightBeamempowers privacy and compliance executives to keep their organizations under continuous compliance, while information security executives can finally rest assured that sensitive data is being used and accessed securely. | $17.8M | Series A | Feb 01, 2024 |  |

10 of 11 investments shown.

## Co-investors
- [Bain Capital Ventures](https://shizune.co/investors/profile/bain-capital-ventures) — VC Fund, 3 deals together
- [Atomico](https://shizune.co/investors/profile/atomico) — VC Fund, 2 deals together
- [Evolution Equity Partners](https://shizune.co/investors/profile/evolution-equity-partners) — VC Fund, 2 deals together
- [N47](https://shizune.co/investors/profile/next47) — VC Fund, 2 deals together
- [8VC](https://shizune.co/investors/profile/8vc) — VC Fund, 1 deal together
- [Afore Capital](https://shizune.co/investors/profile/afore-capital) — VC Fund, 1 deal together

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## FAQ

### What does Dropbox Ventures invest in?

Dropbox Ventures invests primarily in Software, Artificial Intelligence and SaaS startups, most often at Seed and Series A stage. Most of the 11 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Dropbox Ventures last invest?

The most recent investment recorded for Dropbox Ventures closed in Nov 2025. Shizune tracks 11 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### 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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