Micro VC

Bullpen Capital

Bullpen Capital is a San Francisco-based venture capital firm founded in 2010 by Paul Martino, Duncan Davidson, and Richard Melmon that pioneered the "post-seed" investment category. The firm provides early-stage financing to companies that have found initial product-market fit but are overlooked by traditional investors "for no good reason" — deliberately backing unconventional founders and sectors that other firms dismiss. Bullpen typically writes checks in the range of roughly $1M-$5M, often stepping in between the seed and Series A rounds to help capital-efficient companies push toward a strong institutional raise. The firm invests across gaming, commerce, apps and services, health, consumer and lifestyle, fintech, and marketplaces, primarily in North America with select exposure in Latin America (notably Brazil and Mexico). With a portfolio of 90+ companies, Bullpen's notable investments include FanDuel, Namely, Classy, Braze, HomeLight, ipsy, SpotHero, Splitwise, and Wag.

92 portfolio companies 11 publish APIs here 14 properties
Venture CapitalPost-SeedSeedSeries AGamingFintechConsumerMarketplacesCommerceHealthNorth AmericaSan Francisco

Bullpen Capital has 92 portfolio companies tracked on the APIs.io network, of which 11 (12%) publish APIs indexed here.

Its highest-rated API providers on the network are Citus Data, Modal, SpotHero, Braze, SkyWatch.

Portfolio on the Network

Portfolio companies that publish APIs indexed on APIs.io, grouped by their API Evangelist rating. Exemplar and Strong are expanded by default.

Exemplar 1 Complete, well-documented, and agent-ready
Strong 1 Solid coverage with minor gaps
Developing 1 Usable, with meaningful gaps to close
Thin 4 Limited public surface area
Emerging 2 Early or largely undocumented
Minimal 2 Almost no public developer surface

Rest of Portfolio

81 further portfolio companies that don’t yet have a provider page on the network.

About.meAirMapAll City NetworkAll3DArroAtriumAvantStayBarn2DoorBeBop SensorsBerylliumBeyond PricingBlueboardCampConfident CannabisCoverHoundCreedCruxOCMDaashDrafteaEdge MarketsEnteraEQL GamesFakespotFamaFanDuelFanimalFlexEngageFlickGameflipGrassroots UnwiredGRINGrove CollaborativeHappsHemsterHerbImprovadoipsyJackpocketJollyJump Ramp GamesLawn LoveLiveIntentMango HealthManufacturedMerchbarNanomeNaviStoneOcrolusOctane AIOnsiteIQOpenLatticePackageXPaintZenPaperPlinkPredictionStrikePrevetaRainwayRankerRei do PitacoRelishReniacRippleMatchRoofrSauceySisu ClinicSpaceIQSplitwiseStarcitySuitenessSuperSwish AnalyticsSwitchyardsTakeWheelsTank UtilityThriveFantasyTwenty20UreekaWagWindfall DataWonder

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Properties

Portfolio

Where the firm publishes its investments

Team

Partners and investing staff

Content

Blog, podcast, newsletter, and research

Firm

The firm itself

Source (apis.yml)

apis.yml Raw ↑
aid: bullpen-capital
name: Bullpen Capital
description: >-
  Bullpen Capital is a San Francisco-based venture capital firm founded in 2010 by Paul Martino,
  Duncan Davidson, and Richard Melmon that pioneered the "post-seed" investment category. The firm
  provides early-stage financing to companies that have found initial product-market fit but are
  overlooked by traditional investors "for no good reason" — deliberately backing unconventional
  founders and sectors that other firms dismiss. Bullpen typically writes checks in the range of
  roughly $1M-$5M, often stepping in between the seed and Series A rounds to help capital-efficient
  companies push toward a strong institutional raise. The firm invests across gaming, commerce, apps
  and services, health, consumer and lifestyle, fintech, and marketplaces, primarily in North America
  with select exposure in Latin America (notably Brazil and Mexico). With a portfolio of 90+ companies,
  Bullpen's notable investments include FanDuel, Namely, Classy, Braze, HomeLight, ipsy, SpotHero,
  Splitwise, and Wag.
image: https://www.bullpencap.com/favicon.ico
x-type: venture-capital
x-category: Micro VC
created: '2026-07-17'
modified: '2026-07-17'
specificationVersion: '0.20'
tags:
  - Venture Capital
  - Post-Seed
  - Seed
  - Series A
  - Gaming
  - Fintech
  - Consumer
  - Marketplaces
  - Commerce
  - Health
  - North America
  - San Francisco
apis: []
common:
  - type: Website
    url: https://www.bullpencap.com/
  - type: Portfolio
    url: https://www.bullpencap.com/companies
  - type: Portfolio
    url: portfolio/bullpen-capital-portfolio.yml
  - type: Team
    url: https://www.bullpencap.com/team
  - type: Team
    url: team/bullpen-capital-team.yml
  - type: InvestmentThesis
    url: https://www.bullpencap.com/
  - type: Blog
    url: https://www.bullpencap.com/blog
  - type: Blog
    url: https://medium.com/bullpen-capital
  - type: News
    url: https://www.bullpencap.com/blog
  - type: Jobs
    url: https://talent.bullpencap.com/jobs
  - type: Crunchbase
    url: https://www.crunchbase.com/organization/bullpen-capital
  - type: LinkedIn
    url: https://www.linkedin.com/company/bullpen-capital/
  - type: Twitter
    url: https://twitter.com/bullpencap
  - type: Contact
    url: mailto:hello@bullpencap.com
  - type: Features
    data:
      - "Stage: Post-seed, Seed, Series A"
      - "Typical check: ~$1M-$5M"
      - "Sectors: gaming, commerce, apps & services, health, consumer/lifestyle, fintech, marketplaces"
      - "Geography: North America, with select Latin America (Brazil, Mexico)"
      - "Portfolio: 90+ companies"
      - "Founded: 2010"
      - "HQ: San Francisco, California, USA"
    sources:
      - https://www.bullpencap.com/
      - https://www.crunchbase.com/organization/bullpen-capital
    updated: '2026-07-17'
maintainers:
  - FN: Kin Lane
    email: info@apievangelist.com
    url: https://apievangelist.com
  - FN: APIs.json
    url: http://apisjson.org
  - FN: Bullpen Capital
    url: https://www.bullpencap.com/