Blumberg Capital — Investment Thesis & Preferences

01Investment Thesis

Blumberg Capital backs visionary teams as early and growth stage investors, active board members, and hands-on advisors. They invest in transformative technology companies across enterprise software, cybersecurity, fintech, healthcare tech, and AI with particular strength in the US-Israel technology corridor.

Exclusion Criteria

No pure consumer apps, gaming, hardware, or non-technology businesses

02Investment Team

DJ

David J. Blumberg

Founder and Managing Partner

SG

Steve Gillan

Chief Operating Officer & Chief Financial Officer

YH

Yodfat Harel Buchris

Managing Director

BK

Bruce K. Taragin

Managing Director

SG

Stanton Green

Senior Director

PG

Pramod Gosavi

Senior Principal

JZ

Jimmy Zhu

Senior Principal

JK

Jacob Katz

Principal

LC

Lior Carmel

Vice President

JK

Jared Katzen

Vice President

AH

Alejandro Hill

Associate

03F4 Research Brief

Blumberg Capital Research

Overview

Blumberg Capital is a San Francisco Bay Area-based venture capital firm founded in 1991 by David J. Blumberg. With over three decades of experience, the firm has grown into a multi-stage investor with a global footprint, operating from offices in Miami, San Francisco, New York, and Tel Aviv. The firm has backed more than 120 companies, generating 10 unicorns and multiple exits through IPOs and strategic acquisitions.

Investment Thesis

Blumberg Capital positions itself as "more than capital" — an early and growth-stage investor that serves as an active board member and hands-on advisor throughout the full startup lifecycle. Their thesis centers on backing visionary teams at inflection points, with emphasis on transformative technologies including artificial intelligence, enterprise software, cybersecurity, fintech, and healthcare technology.

The firm's "Flying Sphere" logo (referencing da Vinci's design) symbolizes their commitment to founders through market volatility and uncertainty, reflecting a philosophy of long-term partnership. They actively encourage founders to "challenge the status quo in a respectful spirit of teamwork and collaboration."

Stage Focus

Blumberg Capital operates through two complementary investment strategies:

Early Stage (Core Fund): Primary focus on Seed-round investments, often as the first institutional investor. The firm targets companies with strong technology differentiation and experienced founding teams.
Venture Growth Fund: A parallel strategy targeting growth-stage companies at critical inflection points — businesses with demonstrated product-market fit that need capital and operational support to scale globally. This fund provides "adaptable capital strategy aligned with founder needs."

Check Size

Early Stage (Seed): Estimated $500K–$5M per investment
Growth Stage: Estimated $10M–$50M per investment
The firm maintains reserves for follow-on investments in top-performing portfolio companies.

Geographic Focus

Blumberg Capital has a strong US focus (San Francisco Bay Area, New York, Miami) combined with deep roots in the Israeli startup ecosystem through their Tel Aviv office. The firm's dual geographic strength enables cross-border partnership opportunities:

US: SF Bay Area, NYC, Miami (primary markets)
Israel: Tel Aviv (cybersecurity and enterprise software strength)
Global: Cross-border expansion support for portfolio companies

The firm's Israeli office, managed by Yodfat Harel Buchris, provides direct access to Israel's world-class cybersecurity and enterprise software ecosystem.

Sector Focus

Blumberg Capital covers multiple technology verticals with particular depth in:

Enterprise Software: Addepar, Streamline AI, WorkJam, Parse.ly, Revionics, FundGuard, Fundbox, Lendio, Pontera, Namogoo, Yotpo

Cybersecurity: BioCatch, Deep Instinct, Hunters.AI, Aryon Security, ChiselStrike, Sealights — reflecting deep connections to the Israeli cybersecurity ecosystem. Historic exits include IntSights (Rapid7), Medigate (Claroty), Authomize (Delinea), Cybellum (LG Electronics), Fortscale (RSA), Cyvera (Palo Alto Networks).

Fintech & Financial Infrastructure: Fundbox, EarnUp, Pontera, Sharegain, Zanbato, FlowFi, FundGuard, ZooZ, Finaro (acquired by Shift4), Katapult (IPO)

Healthcare Technology: Angle Health, Ferrum Health, Theator, Segmed, SmithRx, Dorian Therapeutics, Imagene

Developer Tools & Infrastructure: Hydrolix, Kloudfuse, Sealights, Panoply, Pachyderm, SQream Technologies

AI/ML: Hunters.AI, Prescient AI, Deep Instinct, VerAI — with increasing AI focus across all portfolio categories as of 2024–2025

Lead Tendency

Blumberg Capital typically leads or co-leads early-stage rounds, taking board seats with most seed investments. At the growth stage through their Venture Growth Fund, they participate both as leads and co-investors depending on round dynamics.

Portfolio Highlights

Notable IPOs:

DoubleVerify (NASDAQ: DV) — digital advertising verification
Nutanix (NASDAQ: NTNX) — cloud infrastructure
Braze (NASDAQ: BRZE) — customer engagement platform
Check Point Software (NASDAQ: CHKP) — cybersecurity pioneer
Katapult (NASDAQ: KPLT) — fintech

Notable Acquisitions:

Medigate → Claroty (healthcare IoT security)
IntSights → Rapid7 (threat intelligence)
Authomize → Delinea (identity security)
Databand → IBM (data pipeline observability)
Cybellum → LG Electronics (automotive cybersecurity)
Finaro → Shift4 (global payments)
HootSuite (social media management)
SupplyPike → SPS Commerce
SigOpt → Intel

Recent Activity (2024–2025):

Angle Health raised $134M Series B (December 2025) — AI-native healthcare benefits platform for SMB employees
FirmPilot raised $11.7M (May 2025) — legal AI platform
FlowFi raised first funding (February 2024) — financial insights platform for founders

Team

Executive Committee:

David J. Blumberg — Founder & Managing Partner (Miami). Former executive at Check Point Software, Apax Partners, Bronfman Family Office (Claridge), T. Rowe Price. Harvard A.B. (Government, cum laude), Stanford/INSEAD MBA. Fluent in French, Hebrew, Spanish. Current boards: Flex, Jassby, Kloudfuse, Konfyd, Mytaverse, Trulioo.
Steve Gillan — COO & CFO (San Francisco). Former CFO at Azure Capital Partners, Mercantila, Fathom Online, Alibris. University of Chicago Booth MBA.
Yodfat Harel Buchris — Managing Director (Tel Aviv). Former MD at Tamares Capital; founded own investing/consulting firm. Orbotech venture groups. Bradford Executive MBA. Current boards: Hunters, Oversee, Segmed, Sharegain, SQream.
Bruce K. Taragin — Managing Director (New York). 30+ years VC, investment banking, legal expertise. Co-founded Charles River Computers. Former Hambrecht & Quist. Fordham MBA/J.D. Current boards: Angle Health, BioCatch, FundGuard, Joshu, Nexla, Prescient, WorkJam, Yotpo.

Investment Team:

Stanton Green — Senior Director (New York). Former co-head of equities Guggenheim Securities, CEO OTR Global and Vista Research (sold to S&P), MD Epoch Partners (sold to Goldman Sachs). Dartmouth.
Pramod Gosavi — Senior Principal (San Francisco). Focus: cybersecurity, data, dev tools, AI. Former VMware corporate strategy/VC (sourced JFrog, CloudEndure). Wharton MBA, IIT Bombay B.Tech.
Jimmy Zhu — Senior Principal (San Francisco). Growth equity strategy. Former Premji Invest (Navan, Canva, Chainalysis), Citi Ventures (Honey/PayPal, Grab IPO). MIT Mathematics/Finance, Wharton MBA.
Jacob Katz — Principal (Miami). Focus: B2B software, fintech. Former Goldman Sachs IB & HFT engineering. Wharton MBA, Penn Computer Engineering. Current boards: FirmPilot, FlowFi, PerfectScale.
Lior Carmel — VP (New York). Focus: enterprise software, cybersecurity, AI. Former IDF Intelligence Unit 8200 officer (6 years), Deloitte Israel cybersecurity. Harvard MBA.
Jared Katzen — VP (New York). Focus: enterprise software, fintech, built world. Former Pruven Capital (Pismo/Visa), Houlihan Lokey TMT banking. Duke Economics/Environmental Science.
Alejandro Hill — Associate (Miami). Former 7BC Venture Capital, Preqin. Babson College (magna cum laude). Columbia Business School VC/PE program.

Growth Services & Value-Add

Blumberg Capital differentiates through its comprehensive "Growth Services" platform:

Business development and customer partnership introductions
HR and recruiting support for portfolio companies
Marketing and communications strategy
Operational guidance (finance, legal, real estate)
Innovation Council — network of enterprise technology leaders and CIOs for portfolio company introductions
Cross-border expansion support, particularly for US-Israel corridor
International offices provide local expertise in recruiting, go-to-market, and partnership development

Decision Process

Partnership-based investment process across offices in Miami, San Francisco, New York, and Tel Aviv. David Blumberg leads as the key decision-maker, with Managing Directors Bruce Taragin (New York) and Yodfat Harel Buchris (Tel Aviv) having significant autonomous authority in their respective markets.

Founder Preferences

Blumberg Capital seeks:

Visionary technical founders with deep domain expertise
Teams with prior operating experience at scale (ideally big tech, successful startups)
Mission-driven founders building transformative technology
Founders open to active partnership and board involvement
Teams building in enterprise software, cybersecurity, fintech, healthcare tech, or AI
Both US and Israeli founders warmly welcomed