Draft:Emergence Capital
Submission declined on 15 May 2026 by RangersRus (talk).
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Submission declined on 31 October 2025 by Pythoncoder (talk). This draft's references do not show that the subject meets Wikipedia's criteria for inclusion for organizations and companies. The draft requires multiple published secondary sources that:
Declined by Pythoncoder 12 months ago.
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This draft is not adequately supported by reliable sources. Wikipedia's verifiability policy requires that all content be supported by reliable sources.
This draft's references do not show that the subject meets Wikipedia's criteria for inclusion for organizations and companies. The draft requires multiple published secondary sources that:
Declined by Tarlby 12 months ago.
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Comment: In accordance with the Wikimedia Foundation's Terms of Use, I disclose that I have been paid by my employer for my contributions to this article. Jckirkes (talk) 21:29, 8 October 2025 (UTC)
| Emergence Capital | |
|---|---|
| Type | Private |
| Industry | Venture capital |
| Founded | 2003 |
| Founders | Gordon Ritter Brian Jacobs Jason Green |
| Headquarters | San Francisco, California, U.S. |
| Key people | Gordon Ritter (Founder & General Partner) Kevin Spain (General Partner) Santi Subotovsky (General Partner) Joe Floyd (General Partner) Jake Saper (General Partner) Carlotta Siniscalco (Partner) Yaz El-Baba (Partner) |
| AUM | US$2.3 billion (2025) |
| Website | emcap |
Emergence Capital (also known as EmCap) is an American venture capital firm headquartered in San Francisco, California. Founded in 2003, the firm focuses on early-stage investments in business-to-business (B2B) software and software as a service (SaaS) companies.
History
[edit]Emergence Capital was founded in 2003 by Gordon Ritter, Brian Jacobs, and Jason Green.[1] The firm was established with a focus on early-stage enterprise software companies, at a time when cloud computing was emerging as a significant shift in how businesses deployed software.
The firm's early investments included Salesforce and SuccessFactors, a cloud-based human capital management platform that was acquired by SAP for $3.4 billion in 2012.[2][3] In 2008, Emergence made a $4 million investment in Veeva Systems, a cloud software company serving the life sciences industry and Veeva's sole venture backer at the time. When Veeva went public on the New York Stock Exchange in October 2013, the firm's stake was valued at more than $1.2 billion, representing a roughly 300-fold return on its investment.[4]
In 2012, Emergence's portfolio company Yammer was acquired by Microsoft for $1.2 billion.[2]
In 2015, Emergence was an early investor in Zoom Video Communications.[5]
In 2017, Emergence was named Venture Firm of the Year by the National Venture Capital Association (NVCA).[6]
In 2012, Emergence closed its third fund at $250 million, bringing total assets under management to $575 million across three funds.[1] In 2015, the firm closed its fourth fund at $335 million.[7]
In 2018, Emergence closed its fifth fund at $435 million.[8]
In 2021, Emergence raised approximately $950 million across two funds: a $575 million sixth early-stage fund and a $375 million opportunity fund, the firm's first of that type.[9]
In March 2025, Emergence closed its seventh fund at $1 billion, its largest to date.[10][11][12] Stanford University has backed Emergence since 2007; Rob Wallace, CEO of Stanford Management Company, stated that the firm's cumulative returns for Stanford would fund more than 800 full undergraduate scholarships per year in perpetuity.[10]
Investment approach
[edit]Emergence focuses on early-stage B2B software companies, primarily investing at the seed and Series A stages. The firm maintains a concentrated portfolio, typically making five to seven new investments per year, with the aim of providing deep operational involvement with portfolio companies.[2][13]
Since 2025, Emergence has oriented its investment strategy around artificial intelligence, with its seventh fund focused specifically on AI-driven B2B software. General partner Joe Floyd described the shift as "a generational opportunity for AI investing, period."[10][11]
Recognition
[edit]Emergence was named Venture Firm of the Year by the National Venture Capital Association in 2017.[6] In 2025, Time magazine ranked Emergence among America's Top Venture Capital Firms in its inaugural survey of 350 U.S.-based firms, conducted in partnership with Statista.[14]
Carlotta Siniscalco was named a partner at the firm in 2021, the first woman to hold that title at Emergence.[15] Yaz El-Baba was featured among rising stars in venture capital in 2026.[16]
Partners at the firm have appeared on the Forbes Midas List, an annual ranking of the world's top venture capital investors, across multiple years. Gordon Ritter appeared on the list from 2006 through 2015, and Santi Subotovsky has appeared on the list multiple times, including in 2024 at number 78.[17]
Notable investments
[edit]Emergence Capital's portfolio has included several enterprise software companies that have gone public or been acquired, including:
- Salesforce – customer relationship management software; one of the firm's earliest investments[2]
- SuccessFactors – cloud-based human capital management software; acquired by SAP for $3.4 billion in 2012[3]
- Veeva Systems – cloud software for the life sciences industry; Emergence's sole venture backer at IPO[4]
- Yammer – enterprise social networking; acquired by Microsoft for $1.2 billion in 2012[2]
- ServiceMax – field service management software; acquired by GE Digital for $915 million in 2016[8]
- Intacct – cloud accounting software; acquired by Sage Group for $850 million in 2017[18]
- Zoom Video Communications – video communications platform; Emergence was an early backer prior to Zoom's 2019 IPO[5]
- Bill.com – financial operations software; went public in 2019[19]
- Doximity – digital platform for medical professionals; went public in 2021[20]
- Box – cloud content management[2]
- Gusto – payroll and HR software[11]
- Ironclad – AI-powered contract management software; Emergence participated in its Series C and subsequent rounds[21]
- Together AI – open-source AI infrastructure platform; Emergence participated in its Series A and Series B rounds, the latter valuing the company at $3.3 billion[22][23]
- Bland – conversational AI platform for enterprise phone automation; Emergence led its $40 million Series B in 2025[24]
- Federato – AI-powered insurance underwriting platform; Emergence led its Series A and participated in subsequent rounds[25][26]
- Genspark – AI agent platform; Emergence participated in its $275 million Series B in 2025, which valued the company at $1.25 billion[27]
- Unify – AI-powered sales outreach platform; Emergence led its Series A in 2024[28]
- Physical Intelligence – robotics AI software company; Emergence participated in a $600 million funding round in 2025 that valued the company at $5.6 billion[29]
References
[edit]- 1 2 Efrati, Amir (2012-02-29). "As Business Software Moves To Cloud, Emergence Capital Closes Third Fund At $250M". The Wall Street Journal. Retrieved 2025-10-15.
- 1 2 3 4 5 6 Roof, Katie (2018-05-21). "This top Silicon Valley venture firm just made a contrarian move with its newest fund". TechCrunch. Retrieved 2025-11-08.
- 1 2 "After Closing $3.4B Acquisition Of SuccessFactors, SAP Pushes Human Capital Management In The Cloud". TechCrunch. 2012-02-22. Retrieved 2025-11-08.
- 1 2 "Veeva IPO Generates 300-Fold Return for Emergence Capital". Bloomberg News. 2013-10-16. Retrieved 2025-10-15.
- 1 2 "Zoom's second most powerful shareholder thinks CEO Eric Yuan is like Steve Jobs, but nicer". Business Insider. 2019-04-18. Retrieved 2025-10-15.
- 1 2 "NVCA Awards Program – List of Winners". National Venture Capital Association. Retrieved 2025-11-08.
- ↑ "Emergence, known for its enterprise bets, just rounded up nearly $1 billion across two new funds". TechCrunch. 2021-05-05. Retrieved 2025-11-08.
- 1 2 Roof, Katie (2018-05-21). "Emergence Capital Closes $435 Million Fund in Hunt for the Next Salesforce". The Wall Street Journal. ISSN 0099-9660. Retrieved 2025-10-15.
- ↑ Decambre, Mark (2021-05-21). "VC Firm Emergence Raises $950 Million Across Two New Funds To Find The Next Zoom". Forbes. Retrieved 2025-11-08.
- 1 2 3 Garfinkle, Allie (2025-03-25). "Exclusive: Emergence Capital raises $1 billion seventh fund". Fortune. Retrieved 2025-11-08.
- 1 2 3 Azevedo, Mary Ann (2025-03-25). "Emergence Capital closes on $1B fund to back B2B companies". TechCrunch. Retrieved 2025-11-08.
- ↑ "Early Zoom Backer Emergence Closes in on $1 Billion of New Funds". Bloomberg News. 2024-10-18. Retrieved 2025-11-08.
- ↑ Torrence, Rebecca (2025-07-09). "Emergence Capital hasn't lost a single partner in 22 years. Here's how other VC firms can fix their 'revolving doors,' according to an investor". Business Insider. Retrieved 2025-10-15.
- ↑ "America's Top Venture Capital Firms of 2025". Time. 2025-08-19. Retrieved 2025-11-08.
- ↑ "Emergence announces its first female partner". TechCrunch. 2021-11-10. Retrieved 2025-11-08.
- ↑ "Meet the 37 rising stars of the venture capital industry". Business Insider. 2026-02-03. Retrieved 2026-02-10.
- ↑ "Forbes Midas List 2024". Forbes. 2024. Retrieved 2025-11-08.
- ↑ "Sage Group buys Intacct accounting software for $850M". TechCrunch. 2017-07-25. Retrieved 2025-11-08.
- ↑ "Bill.com surged 60% in its first day of trading". Business Insider. 2019-12-13. Retrieved 2025-10-15.
- ↑ "Doximity ignored VC money for 7 years and now is a $9.6 billion public company". Business Insider. 2021-06-24. Retrieved 2025-10-15.
- ↑ "Ironclad raises $50M Series C round for its digital contracting platform". TechCrunch. 2019-09-17. Retrieved 2025-11-08.
- ↑ Wiggers, Kyle (2023-11-29). "Together lands $102.5M investment to grow its cloud for training generative AI". TechCrunch. Retrieved 2025-11-08.
- ↑ "Startup Together AI Valued at $3.3 Billion as AI Demand Grows". Bloomberg News. 2025-02-20. Retrieved 2025-11-08.
- ↑ "Emergence Capital leads $40M Series B in Bland, an AI phone agent startup". TechCrunch. 2025-01-09. Retrieved 2025-11-08.
- ↑ "Federato raises $15M to help insurance customers manage risk". TechCrunch. 2022-09-16. Retrieved 2025-11-08.
- ↑ "Federato fixes insurance risk analysis with AI, raises $40M". TechCrunch. 2024-11-20. Retrieved 2025-11-08.
- ↑ "Here are the 55 US AI startups that raised $100M or more in 2025". TechCrunch. 2026-01-19. Retrieved 2026-02-10.
- ↑ "Unify, an OpenAI Converge accelerator grad, lands $12M for 'warm outbound' messages". TechCrunch. 2024-10-08. Retrieved 2025-11-08.
- ↑ "Robotics Startup Physical Intelligence Valued at $5.6 Billion in New Funding". Bloomberg News. 2025-11-20. Retrieved 2026-02-10.
External links
[edit]Category:Venture capital firms of the United States Category:Financial services companies based in California Category:Companies based in San Francisco Category:2003 establishments in California
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