About Binary
Binary is a venture capital firm founded in 2014. It is primarily based out of San Francisco, United States. As of Oct 2017, Binary has invested in 23 companies. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from Consumer to Retail and Enterprise Applications. Most recently it participated in the $***** Seed round of Vezt Overall, Binary portfolio has seen 1 IPO and 8 acquisitions including key companies like Grubhub, X and Snapchat. A lot of funds co-invest with Binary, with names like 500 Global sharing a substantial percentage of its portfolio.Binary's List of Top Investments
Binary has a portfolio of 23 companies. Their most notable investments are in Vezt and Unikrn.Their portfolio spans across United States, Canada, France and 1 more locations. They have invested in Consumer, Retail, Enterprise Applications and 12 other sectors, across stages such as Series A, Seed stages. Here is the list of top investments by Binary:
1. Grubhub
Online platform offering food ordering and delivery services. The platform allows users to browse through local restaurant menu lists and order food. Its features include delivery tracking, pre-ordering options, restaurant reviews, coupons, and deals. Its app is available on the Android and iOS platforms.
Key facts about Grubhub
- Founded Year: 2004
- Location: Chicago (United States)
- Annual Revenue: $1.82B as on Dec 31, 2020
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $284M
- Employee Count: 6,712 as on Mar 31, 2026
- Investors: Veyo Partners, Amazon and 17 Others
- Latest Funding Round: Post IPO, Jul 06, 2022, $*****
- Highlight: Acquired
2. X
Platform that aggregates and curates a wide range of content, including news, entertainment, and opinions. It is an online platform providing real-time news, entertainment, and commentary to its audience, featuring a wide range of topics including breaking news, sports, politics, and more. The platform also allows for live commentary and engagement with users, as well as hosting conversations with notable figures and thought leaders.
Key facts about X
- Founded Year: 1999
- Location: Bastrop (United States)
- Annual Revenue: $5.08B as on Dec 31, 2021
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $1.14B
- Employee Count: 12,204 as on Mar 31, 2026
- Investors: SeedFord Partners, Silver Lake and 85 Others
- Latest Funding Round: Post IPO, Mar 20, 2025, $*****
- Highlight: Acquired
3. Snapchat
Provider of multimedia messaging application. It offers users to send ephemeral messages to others. It provides solutions to capture photos and videos from their devices, edit with multiple filters, and share photos and video clip messages with friends. It offers features such as short videos, live video chatting, messaging, creating Bitmoji avatars, and sharing photos and videos through stories. It also provides a memories feature that allows users to store the snaps and stories in a private storage area. The application is available for both Android and iOS users.
Key facts about Snapchat
- Founded Year: 2011
- Location: Los Angeles (United States)
- Annual Revenue: $4.61B as on Dec 31, 2023
- Stage: Public
- Total Funding till date: $2.62B
- Employee Count: 97 as on Dec 31, 2022
- Investors: ADS Ventures, TrueBridge and 60 Others
- Latest Funding Round: Post IPO, Aug 07, 2018, $*****
- Highlight: Public
4. LawnStarter
Effortless lawn care services with online booking and trusted professionals. They connect homeowners with local lawn care professionals, offering a range of services from basic lawn mowing to landscaping and lawn treatments. The platform provides instant pricing, easy online ordering, and flexible scheduling. Customers can manage their services through a user-friendly app, with options to cancel, skip, or reschedule as needed. The company emphasizes quality service, ensuring that only vetted professionals with insurance verification are part of their network. Their business model supports small businesses by providing them with tools to manage and grow their operations. They offer a guarantee, ensuring customer satisfaction with every service. This is a B2C business model, offering multiple services through a SaaS platform, with online booking, subscription options, and transparent pricing.
Key facts about LawnStarter
- Founded Year: 2013
- Location: Blacksburg (United States)
- Stage: Series B
- Total Funding till date: $27M
- Employee Count: 103 as on Dec 31, 2022
- Investors: Lerer Hippeau, Edison Partners and 11 Others
- Latest Funding Round: Series B, Nov 12, 2019, $*****
- Highlight: Editors' Pick
5. LTSE
Online platform for investments in stocks. The company offers a platform for investments in stocks. Features include market announcements, circulars, membership, status, and reports.
Key facts about LTSE
- Founded Year: 2015
- Location: San Francisco (United States)
- Stage: Series C
- Total Funding till date: $247M
- Employee Count: 67 as on Mar 31, 2026
- Investors: Hone Capital, Lowercase Capital and 36 Others
- Latest Funding Round: Series C, Jun 28, 2022, $*****
- Highlight: Editors' Pick
Binary's Year-on-Year Investment Trends
Binary has invested in 23 companies over the last 12 years, with an average of 1 new investment annually in the last 10 years. Its most recent first time investment was in Vezt.Binary's Investments by Stage
Binary has made 8 investments in Series A stage with an average round size of $6.84M and 5 investments in Seed stage with an average round size of $1.61M.Stage of entry | No. of Investments |
|---|---|
Series A | 8 |
Seed | 5 |
Note: We have considered here, only first round of investments
Binary's Investments by Sector
Binary has a diverse portfolio, with companies operating in the Consumer, Gig Economy, Media & Entertainment, Retail and FinTech. Notably, it has invested in 23 Tech companies, 20 Consumer (B2C) companies, 7 Marketplace companies and at least 5 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 9 |
Gig Economy | 4 |
Media & Entertainment | 4 |
Retail | 4 |
FinTech | 3 |
Others | 12 |
Note: We have considered here, only first round of investments
Binary's Investments by Geography
Binary has made most investments in United States (11), followed by France where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 11 |
France | 1 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Binary's recent investments
Binary has not made any investment in 2026 so far.Here are the most recent investments by Binary:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 25, 2017 | United States | Seed | 7356 | - | |
Jun 15, 2017 | United States | Series A | 6641 | [+16] | |
Apr 04, 2017 | United States | Seed | 2098 | - | |
Nov 15, 2016 | France | Series A | 6759 | [+6] | |
Jun 02, 2016 | United States | Seed | 9377 | [+4] |
IPOs and Publicly Listed companies in Binary's Portfolio
1 of Binary's portfolio company became public - Snapchat. It got listed on the New York Stock Exchange (NYSE), in Mar 2017 at marketcap of $54.4MHere are Binary's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 03, 2017 | - | - | 7231 |
Acquired companies in Binary's Portfolio
8 companies from Binary's portfolio have been acquired. The most recent acquisition was X in Mar 2025 by xAI for $*****.Here are Binary's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 29, 2025 | - | - | 8688 | |
Nov 13, 2024 | - | - | 9227 | |
Apr 03, 2024 | - | - | 3752 | |
May 17, 2022 | - | - | 2118 | |
Aug 12, 2021 | Jun 30, 2015 | Series A | 5132 |
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Co-investors of Binary
Over the past 12 years, 90 investors have co-invested in Binary's portfolio companies. This includes funds and angels.
- Invested before Binary: Y Combinator, Techstars and 12 others have invested in rounds before Binary. There are 2 companies where Y Combinator has invested before Binary and 1 company where Techstars has invested before Binary.
- Top Co-investors of Binary: 59 investors entered a company along with Binary. These include investors like 500 Global (3 companies).
- Invested after Binary: A total of 17 investors have invested in Binary's portfolio after their investments. Top Investors include Lerer Hippeau (3 companies), Edison Partners (1 company) and Andreessen Horowitz (1 company).
Recent News related to Binary
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Served a summons via tweet? It just happened to one allegedly elusive VCTechCrunch+•Jan 05, 2019•Baker Dolinko & Schwartz PC., Binary
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The latest in the Binary Capital blowup and what it means for startup investing – TechCrunchTechCrunch+•Jun 28, 2017•Binary
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Justin Kan confirms $10.5 million in funding for his legal tech startup Atrium LTS – TechCrunchTechCrunch+•Jun 15, 2017•Atrium, 500 Global, General Catalyst, Outlander VC and 30 others
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Binary Capital backs runaway trains with $175 million new fundTechCrunch+•Aug 01, 2016•Binary, Snapchat, Instagram, Google and 1 other
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Facebook scraps another Snapchat clone: 24-hour “Quick Updates”TechCrunch+•Jul 22, 2016•Facebook, Snapchat, Binary
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Interior design startup Havenly raises $5.8 million – TechCrunchTechCrunch+•Mar 29, 2016•Havenly, Binary, Foundry Group, Chicago Ventures
