About Espresso Capital
Espresso Capital, established in 2009, is a private debt fund primarily based in Toronto, Canada. It specializes in financing Venture Debt round of companies based in United States. Its portfolio includes 73 firms, spanning the Enterprise Applications, Retail sectors.
As of Aug 2026, Espresso Capital has witnessed 24 portfolio exits so far. Its most notable investments include companies like Headout, Blueshift and Procurify.
Its latest investment was a $38M Series B round in Thentia on Jan 29, 2024, which also saw participation from First Ascent Ventures and BDC.
Espresso Capital's List of Top Investments
Espresso Capital has a portfolio of 73 companies. Their most notable investments are in Kythera Labs and Thentia.Their portfolio spans across United States, Canada and United Kingdom. They have invested in Enterprise Applications, Retail, High Tech and 20 other sectors, across stages such as Venture Debt, Conventional Debt and 5 more. Here is the list of top investments by Espresso Capital:
1. Headout
Provider of app-based tours and activities booking platform. Travelers are allowed to book the tours through the platform by making an online payment. It also provides last-minute availability and discounts on bookings.
Key facts about Headout
- Founded Year: 2014
- Location: New York City (United States)
- Stage: Series B
- Total Funding till date: $70.5M
- Employee Count: 780 as on Jul 31, 2026
- Investors: Glade Brook Capital, Evolvence Equity Partners and 36 Others
- Latest Funding Round: Series B, Feb 02, 2022, $*****
- Highlight: Editors' Pick

2. Blueshift
AI-enabled marketing automation platform. It uses its patented AI technology to unify, inform, and activate the fullness of customer data across all channels and applications. It helps marketers to customize the messages based on customers interests, purchase patterns, and browsing behavior, enabling digital marketers to create personalized triggered messaging based on user actions and user attributes. BBC, Zumper, Udacity, and ClearScore are part of the clientele.
Key facts about Blueshift
- Founded Year: 2014
- Location: San Francisco (United States)
- Stage: Acquired
- Total Funding till date: $57.6M
- Employee Count: 81 as on Jul 31, 2026
- Investors: Runway Growth Capital, Alisio DWC and 17 Others
- Latest Funding Round: Venture Debt, Jan 16, 2024, $*****
- Highlight: Acquired

3. Procurify
Developer of procurement software for managing organizational spend and workflows. This platform automates the full purchasing lifecycle, including intake, approval routing, purchase order generation, invoice matching, and payment processing. It integrates with financial systems to provide real-time visibility into expenditures and budget tracking. The software utilizes automated agents to draft requests, code invoices, and perform three-way matching based on organizational data. Finance and operations teams use these tools to enforce spending policies, maintain audit trails, and reduce manual administrative tasks throughout the procurement process.
Key facts about Procurify
- Founded Year: 2012
- Location: Vancouver (Canada)
- Stage: Series C
- Total Funding till date: $82.5M
- Employee Count: 169 as on May 31, 2026
- Investors: HarbourVest Partners, Information Venture Partners and 22 Others
- Latest Funding Round: Venture Debt, Nov 04, 2024, $*****
- Highlight: Editors' Pick
Video over IP solutions for enterprises. The solution works over standard IP networks and the internet to enable the creation, publishing, and distribution of media content. Live and on-demand video applications include meeting and event broadcasts, employee collaboration, distributed learning, digital signage, TV distribution, and video surveillance. The solution is used by educational institutions, corporates, and government entities.
Key facts about VBrick Systems
- Founded Year: 1998
- Location: Herndon (United States)
- Stage: Series F
- Total Funding till date: $48.5M
- Employee Count: 267 as on Jul 31, 2026
- Investors: Espresso Capital, Canadian Imperial Bank of Commerce and 8 Others
- Latest Funding Round: Venture Debt, 2022, $*****
- Highlight: Editors' Pick

5. Fullscript
Fullscript is a software platform for dispensing professional-grade nutraceuticals and supplements. It allows health practitioners to prescribe and dispense supplements (online or in person.) from a catalog of health products from different professional brands. Also, allows them to send personalized product recommendations directly to patients via email or SMS. The system can also be integrated with the users existing EHR system for data access.
Key facts about Fullscript
- Founded Year: 1995
- Location: Ottawa (Canada)
- Stage: Series B
- Total Funding till date: $267M
- Employee Count: 792 as on Jul 31, 2026
- Investors: Leonard Green and Partners, Snapdragon Capital Partners and 9 Others
- Latest Funding Round: PE, May 05, 2025, $*****
- Highlight: Editors' Pick
Espresso Capital's Year-on-Year Investment Trends
Espresso Capital has invested in 73 companies over the last 14 years, with an average of 5 new investments annually in the last 10 years. Its most recent first time investment was in Teampay and most recent follow-on round was in Thentia.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 1 | 1 |
2023 | 0 | 0 | 0 |
2022 | 21 | 1 | 22 |
2021 | 13 | 2 | 15 |
2020 | 5 | 0 | 5 |
2019 | 6 | 0 | 6 |
2018 | 4 | 0 | 4 |
Espresso Capital's Investments by Stage
Espresso Capital has made 27 investments in Venture Debt stage with an average round size of $8.85M, 12 investments in Conventional Debt stage with an average round size of $9.28M and 4 investments in Series B stage with an average round size of $18.9M.Stage of entry | No. of Investments |
|---|---|
Venture Debt | 27 |
Conventional Debt | 12 |
Series B | 4 |
Series C | 3 |
Convertible Debt | 2 |
Others | 2 |
Note: We have considered here, only first round of investments
Espresso Capital's Investments by Sector
Espresso Capital has a diverse portfolio, with companies operating in the Enterprise Applications, Vertical SaaS, Consumer, FinTech and High Tech. Notably, it has invested in 65 Tech companies, 60 Enterprise (B2B) companies, 51 Software companies and at least 39 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 35 |
Vertical SaaS | 14 |
Consumer | 9 |
FinTech | 8 |
High Tech | 6 |
Others | 37 |
Note: We have considered here, only first round of investments
Espresso Capital's Investments by Geography
Espresso Capital has made most investments in United States (37), followed by Canada where it has made 9 investments.Country | No. of Investments |
|---|---|
United States | 37 |
Canada | 9 |
United Kingdom | 3 |
Note: We have considered here, only first round of investments
Espresso Capital's recent investments
Espresso Capital has not made any investment in 2026 so far.Here are the most recent investments by Espresso Capital:
Date | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jan 29, 2024 | Canada | Series B | 9541 | ||
Nov 30, 2022 | United States | Series B | 2391 | [+3] | |
Oct 14, 2022 | United States | Conventional Debt | 6118 | - | |
Oct 03, 2022 | United States | Conventional Debt | 9532 | - | |
2022 | United States | Venture Debt | 3706 | - |
IPOs and Publicly Listed companies in Espresso Capital's Portfolio
1 of Espresso Capital's portfolio company became public - POET Technologies. It got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Dec 2000.Here are Espresso Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 07, 2000 | - | - | 6888 |
Acquired companies in Espresso Capital's Portfolio
23 companies from Espresso Capital's portfolio have been acquired. The most recent acquisition was Blueshift in Jun 2026 by BlueConic for $*****.Here are Espresso Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 17, 2026 | - | - | 6878 | |
Jun 02, 2025 | Mar 09, 2021 | Convertible Debt | 6505 | |
Feb 13, 2025 | - | - | 4760 | |
Jan 28, 2025 | May 26, 2022 | Venture Debt | 4964 | |
Nov 13, 2024 | - | - | 3931 |
Team profile of Espresso Capital
Espresso Capital has a team of 6 members including 2 Partners located in United States and Canada.Co-investors of Espresso Capital
Over the past 14 years, 251 investors have co-invested in Espresso Capital's portfolio companies. This includes funds and angels.
- Invested before Espresso Capital: Point Nine, SVB and 208 others have invested in rounds before Espresso Capital. There are 3 companies where Point Nine has invested before Espresso Capital and 3 companies where SVB has invested before Espresso Capital.
- Top Co-investors of Espresso Capital: 11 investors entered a company along with Espresso Capital. These include investors like Glade Brook Capital (1 company).
- Invested after Espresso Capital: A total of 30 investors have invested in Espresso Capital's portfolio after their investments. Top Investors include Canadian Imperial Bank of Commerce (4 companies) and Sri Harsha Majety (1 company).
Recent News related to Espresso Capital
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Thentia, Which Offers Technologies For Regulatory Institutions, Received An Investment Of $ 38 MillionWebrazzi•Jan 29, 2024•Thentia, First Ascent Ventures, Spring Mountain Capital, BDC and 1 other
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Teampay Raises Another $47M for its All-in-One Spend Management Platform and Corporate CardAlleyWatch•Dec 16, 2022•Teampay, Fin Capital, Mastercard, PROOF and 7 others
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HICX: Raises $30M in FundingFintechinshorts•Sep 18, 2022•HICX, Wavecrest Growth Partners, Espresso Capital
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HICX raises $30M to give companies visibility into their supply chainTechCrunch+•Sep 15, 2022•HICX, Wavecrest Growth Partners, Espresso Capital
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f7 Ventures Closes First Fund, at $50MFinSMEs•May 19, 2022•F7 Ventures, SoftBank Group, J P Morgan, Insight Partners and 3 others
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