Venture Capital

Foundry Group

Foundry Group is a Boulder, Colorado venture capital firm founded in 2007 by Brad Feld, Seth Levine, Ryan McIntyre, and Jason Mendelson. The firm invests in early-stage technology startups across the United States, organizing its work around long-lived, horizontal investment themes (such as "glue", "protocol", "distribution", and "human computer interaction") rather than narrow verticals, with a particular affinity for hardware, robotics, consumer internet, developer tools, and B2B SaaS. Foundry pioneered a "network-driven" model that operates both as a direct investor in startups and as a limited partner in a curated network of more than 40 partner venture funds. The firm manages more than $3.0B for its limited partners, has made 320+ investments and 70+ exits, and is known for radical transparency through the books, blogs, and podcasts of its partners. Notable investments include Fitbit, Zynga, SendGrid, MakerBot, Gnip, Mapbox, SeatGeek, and WHOOP. In 2022 the partners announced Foundry would not raise another fund, continuing to steward its existing funds and portfolio through their life.

110 portfolio companies 98 publish APIs here 7 properties

Venture Capital Seed Series A Early Stage Hardware Robotics Developer Tools Consumer Internet B2B SaaS Network-Driven Boulder Colorado North America

Portfolio Strength across 35 profiled portfolio companies on the network

6 top-rated API companies 2 exemplar · 4 strong

15 agent-ready companies 4 agent-native · 11 agent-ready

Average quality of the book:

Composite thin 38.0

Agent-Readiness agent-aware 24.5

Firms are ranked by cumulative portfolio strength — how many highly-rated API companies they've backed, weighted by tier across composite quality and agent-readiness. The averages below are a secondary read on the typical company in the book.

Foundry Group has 110 portfolio companies tracked on the APIs.io network, of which 35 (32%) publish APIs indexed here. The remaining 63 are tracked as profiles without a published API on the network.

Its highest-rated API providers on the network are SendGrid, Vendasta, Fitbit, WHOOP, HelloSign.

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 2 Complete, well-documented, and agent-ready

SendGrid44 APIs80.0 Vendasta31 APIs68.0

Strong 4 Solid coverage with minor gaps

Fitbit11 APIs65.4 WHOOP2 APIs58.9 HelloSign1 API56.7 AppDirect2 APIs55.8

Developing 11 Usable, with meaningful gaps to close

SingleFile1 API50.5 Spekit2 APIs50.2 Sovrn26 APIs49.8 Sofar Ocean1 API47.0 Help Scout25 APIs46.7 Butlr2 APIs42.7 StackHawk1 API42.4 Mapbox12 APIs41.8 SeatGeek1 API41.6 Landing1 API40.9 StockTwits1 API39.5

Thin 13 Limited public surface area

Snappr1 API37.4 Havenly1 API36.7 NIFT1 API36.2 Formlabs1 API36.0 Code Climate1 API35.2 Orion by Gravity1 API33.7 JumpCloud1 API31.8 Quiq1 API29.7 Fideo1 API29.3 HitchPin3 APIs28.0 MakerBot1 API28.0 Pantheon1 API26.3 Airship1 API26.2

Emerging 5 Early or largely undocumented

Miriel7 APIs25.1 Twindo1 API24.4 Inscribe1 API23.9 Looking Glass Factory2 APIs22.0 Molekule1 API17.8

Rest of Portfolio

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

Arthur VenturesBonfire VenturesCostanoa VenturesForerunner VenturesHomebrewKindred VenturesLeadout CapitalStarting Line VCStellationTechstars VenturesTrue VenturesUncork Capital

Scroll for all 12

Properties

Portfolio

Where the firm publishes its investments

Portfolio

Portfolio

Portfolio

Portfolio

Team

Partners and investing staff

Team

Team

Team

Team

Firm

The firm itself

Website

Website

Crunchbase

Crunchbase

LinkedIn

Cohort brief

Auto-generated

The 89 portfolio companies with APIs in the catalog, backed by Foundry Group, scored on the Kin Score. Every figure below is computed from the catalog — nothing here is written.

Providers

of 98 on the roster

Mean Kin Score

21.7

-2.7 vs catalog 24.4

Mean Agent Readiness

10.6

-2.1 vs catalog 12.7

Spread

3.3–80

median 14.7 · σ 17.8

How the 89 split by band

Exemplar 2Strong 4Developing 11Thin 13Emerging 24Minimal 35

Facet averages, against the whole catalog

Facet	This cohort	Catalog	Difference	Scored
Discoverability	61	61.5	-0.5	89
Contract Governance	5.7	6.6	-0.9	89
Developer Ergonomics	22.3	23.8	-1.5	89
Access Clarity	24.8	27.2	-2.4	89
Operational Transparency	11.2	14.4	-3.2	89
Contract Quality	16.1	20.4	-4.3	89

A facet is averaged over the members that carry it, not over the whole cohort — the “Scored” column is that count. Averaging an absent facet as zero would score our own coverage gaps as the providers’ posture.

What this cohort publishes

Artifact	This cohort	Catalog	Difference
MCP server (any)	10%	11%	-1
MCP server (first-party)	12%	13%	-1
Agent Skills	0%	0%	0
OAuth scopes	19%	12%	+7
Security	98%	96%	+2
Arazzo workflows	1%	2%	-1
Governance rules	7%	13%	-6

mcp_pct counts any mcp/ artifact including ones API Evangelist derived from the provider OpenAPI; mcp_first_party_pct counts only servers the provider publishes. Prefer the latter.

Top by Kin Score

1 SendGrid 80
2 Vendasta 68
3 Fitbit 65.4
4 WHOOP 58.9
5 Dropbox Sign (HelloSign) 56.7
6 AppDirect 55.8
7 SingleFile 50.5
8 Spekit 50.2
9 Sovrn 49.8
10 Sofar Ocean 47

Source (apis.yml)

aid: foundry-group
name: Foundry Group
description: >-
  Foundry Group is a Boulder, Colorado venture capital firm founded in 2007 by Brad Feld, Seth Levine,
  Ryan McIntyre, and Jason Mendelson. The firm invests in early-stage technology startups across the
  United States, organizing its work around long-lived, horizontal investment themes (such as "glue",
  "protocol", "distribution", and "human computer interaction") rather than narrow verticals, with a
  particular affinity for hardware, robotics, consumer internet, developer tools, and B2B SaaS. Foundry
  pioneered a "network-driven" model that operates both as a direct investor in startups and as a limited
  partner in a curated network of more than 40 partner venture funds. The firm manages more than $3.0B for
  its limited partners, has made 320+ investments and 70+ exits, and is known for radical transparency
  through the books, blogs, and podcasts of its partners. Notable investments include Fitbit, Zynga,
  SendGrid, MakerBot, Gnip, Mapbox, SeatGeek, and WHOOP. In 2022 the partners announced Foundry would not
  raise another fund, continuing to steward its existing funds and portfolio through their life.
deliveryModel:
  model: unknown
  open_source: false
  commercial: false
  callable_host: false
  label: Delivery model not determined — needs a product licence on record
  confidence: low
  source:
  - none
  generated: '2026-08-28'
  method: derived
accessModel:
  pricing: unknown
  onboarding: unknown
  trial: false
  try_now: false
  public: false
  label: Unknown
  confidence: low
  source: []
  generated: '2026-07-22'
  method: derived
image: https://foundry.vc/favicon.ico
x-type: venture-capital
x-category: Venture Capital
created: '2026-07-17'
modified: '2026-07-17'
specificationVersion: '0.23'
tags:
  - Venture Capital
  - Seed
  - Series A
  - Early Stage
  - Hardware
  - Robotics
  - Developer Tools
  - Consumer Internet
  - B2B SaaS
  - Network-Driven
  - Boulder
  - Colorado
  - North America
apis: []
common:
  - type: Website
    url: https://foundry.vc/
  - type: Portfolio
    url: https://foundry.vc/portfolio/
  - type: Portfolio
    url: portfolio/foundry-group-portfolio.yml
  - type: Team
    url: https://foundry.vc/team/
  - type: Team
    url: team/foundry-group-team.yml
  - type: Crunchbase
    url: https://www.crunchbase.com/organization/foundryvc
  - type: LinkedIn
    url: https://www.linkedin.com/company/foundry-vc
  - type: Features
    data:
      - "Stage: Early stage (Seed, Series A) direct investments + limited partner in partner funds"
      - "Model: Network-driven venture capital (direct investments + LP in 40+ partner funds)"
      - "Sectors: hardware, robotics, consumer internet, developer tools, B2B SaaS"
      - "Themes: horizontal themes (glue, protocol, distribution, human computer interaction)"
      - "Geography: United States"
      - "AUM: more than $3.0B for limited partners (self-reported)"
      - "Activity: 320+ investments, 70+ exits, 75+ active portfolio companies, 40+ partner funds"
      - "Founded: 2007"
      - "HQ: Boulder, Colorado, USA"
      - "Note: In 2022 the partners announced they would not raise another fund"
    sources:
      - https://foundry.vc/
      - https://foundry.vc/portfolio/
      - https://www.crunchbase.com/organization/foundryvc
    updated: '2026-07-17'
maintainers:
  - FN: Kin Lane
    email: info@apievangelist.com
    url: https://apievangelist.com
  - FN: APIs.json
    url: http://apisjson.org
  - FN: Foundry Group
    url: https://foundry.vc/

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