{"id":15632,"name":"Merlin Ventures","slug":"merlin-ventures","website":"https://merlin.vc","hqGeo":"Tysons, VA","stageFocus":["Seed","Series A"],"sectorTags":["Security","Other","Developer Tools","AI / ML","Enterprise","SaaS"],"excludedSectors":[],"checkSizeMin":null,"checkSizeMax":null,"thesisSummary":"Merlin Ventures focuses on cybersecurity with strong ties to enterprise and government security buyers. The firm is relevant for startups building security controls for sensitive and regulated data environments.","thesisNarrative":null,"logoUrl":null,"aumUsd":null,"submissionUrl":null,"linkedinUrl":null,"twitterHandle":null,"portfolio":[{"companyName":"Torq","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":"Provides an AI-powered security-operations platform for automated alert triage, investigation, and response.","amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Neo","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"QIZ","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Above","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Huskeys","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Clutch","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Jazz","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Native","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Tamnoon","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":"Offers an AI-augmented managed service that helps organizations remediate cloud-security risks and misconfigurations.","amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Veriti","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":"Provides a consolidated security platform that identifies and remediates security gaps and misconfigurations across infrastructure.","amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Infosec Global","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":"Provides cryptographic lifecycle-management software for inventories, certificates, compliance, and post-quantum-readiness preparation.","amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Cyclops","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":"Uses generative AI and cybersecurity-mesh architecture to provide contextual search and risk insights across security tools.","amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Talon Cyber Security","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":"Developed a secure enterprise browser for protecting access to corporate applications and data on managed and unmanaged devices.","amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Oxeye","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Dig Security","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":"Provides cloud data security, including real-time discovery, monitoring, protection, and governance of cloud data.","amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Enso","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Finite State","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Cyolo","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":"Provides Zero Trust Network Access for secure connectivity to enterprise and operational-technology applications.","amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Sepio","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Swimlane","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":null,"amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Wickr","companyUrl":null,"stage":null,"sector":null,"investmentYear":null,"description":"Developed secure encrypted communications and messaging products for enterprise and government users.","amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Sepio Systems","companyUrl":null,"stage":"Series A, 2019; Merlin Ventures co-led the round","sector":"Hardware and supply-chain cybersecurity","investmentYear":null,"description":"Detects and mitigates hardware-based attacks, rogue peripherals, hidden network devices, and manipulated firmware.","amountUsd":null,"relevanceNote":null,"fundName":null},{"companyName":"Clutch Security","companyUrl":null,"stage":"Series A, 2025; Merlin Ventures participated as an existing investor","sector":"Identity security","investmentYear":null,"description":"Provides a platform for managing non-human identities, including visibility, governance, risk management, and protection.","amountUsd":null,"relevanceNote":null,"fundName":null}],"partnerCount":5,"partners":[{"id":50919,"name":"Nicole Perlroth","title":"Venture Partner","seniority":null,"focusTags":["Cybersecurity","AI Security"],"linkedinUrl":null,"twitterHandle":null,"blogUrl":null,"thesisSummary":null,"whyThisPartner":null,"recentPosts":[]},{"id":50915,"name":"Seth Spergel","title":"Managing Partner","seniority":null,"focusTags":[],"linkedinUrl":null,"twitterHandle":null,"blogUrl":null,"thesisSummary":null,"whyThisPartner":null,"recentPosts":[]},{"id":50916,"name":"Shay Michel","title":"Managing Partner","seniority":null,"focusTags":[],"linkedinUrl":"https://www.linkedin.com/in/shaymichel","twitterHandle":null,"blogUrl":null,"thesisSummary":null,"whyThisPartner":null,"recentPosts":[]},{"id":50917,"name":"Dorin Danay","title":"Business Operations Manager","seniority":null,"focusTags":[],"linkedinUrl":"https://www.linkedin.com/in/dorindanay","twitterHandle":null,"blogUrl":null,"thesisSummary":null,"whyThisPartner":null,"recentPosts":[]},{"id":50918,"name":"Rachel Mitchell","title":"Business Development Manager","seniority":null,"focusTags":[],"linkedinUrl":"https://www.linkedin.com/in/rachel-c-mitchell","twitterHandle":null,"blogUrl":null,"thesisSummary":null,"whyThisPartner":null,"recentPosts":[]}],"funds":[],"activity":{"lastInvestmentYear":null,"investmentsLast12Months":0},"investorType":"vc","preferredApproach":"warm intro preferred","prefersFounderType":null,"oneClickPitchEnabled":false,"relatedFirms":[{"id":13762,"name":"NeuroNet Ventures","slug":"neuronet-ventures","logoUrl":null,"website":"https://neuronetgpo.com/","stageFocus":["Seed"],"sectorTags":["AI / ML","Other"],"hqGeo":"Chicago, IL"},{"id":11767,"name":"LiftScale Partners","slug":"liftscale-partners","logoUrl":null,"website":"https://weareliftscale.com/","stageFocus":["Pre-Seed"],"sectorTags":["Other","AI / ML","SaaS"],"hqGeo":"San Francisco, CA"},{"id":7722,"name":"Sheesha Finance","slug":"sheesha-finance","logoUrl":null,"website":"https://sheeshafinance.gitbook.io/","stageFocus":[],"sectorTags":["AI / ML","Developer Tools","Fintech"],"hqGeo":null},{"id":547,"name":"Cocoa VC","slug":"cocoa-vc","logoUrl":null,"website":"https://www.cocoa.vc/","stageFocus":["Pre-Seed","Seed"],"sectorTags":["Fintech","SaaS","Other"],"hqGeo":"San Francisco, CA"},{"id":497,"name":"SBI Investment (SBI Group)","slug":"sbi-investment-sbi-group","logoUrl":null,"website":"https://www.sbinvestment.co.jp/","stageFocus":["Seed","Series A"],"sectorTags":["Fintech","Other","Developer Tools"],"hqGeo":"Tokyo, Japan"},{"id":3892,"name":"Madrona Pioneer Fund","slug":"madrona-pioneer-fund","logoUrl":null,"website":"https://www.madrona.com/","stageFocus":["Pre-Seed","Seed"],"sectorTags":["Other","Real Estate","SaaS","Enterprise","Security","Developer Tools"],"hqGeo":"Seattle, WA"}],"featuredIn":[{"slug":"saas","displayName":"SaaS Investors","pageType":"industry"},{"slug":"seed","displayName":"Seed Investors","pageType":"stage"},{"slug":"ai","displayName":"AI & ML Investors","pageType":"industry"},{"slug":"series-a","displayName":"Series A Investors","pageType":"stage"}],"fundraisingResources":[{"slug":"how-many-investors-should-you-pitch","title":"How Many Investors Should You Pitch? The Math Most Founders Get Wrong"},{"slug":"what-vcs-actually-look-for-pitch-deck","title":"What VCs Actually Look for in a Pitch Deck"},{"slug":"find-right-pre-seed-investors-b2b-saas","title":"How to Find the Right Pre-Seed Investors for Your B2B SaaS Startup"}],"overviewNarrative":null,"portfolioNarrative":null,"seoTitle":null,"seoDescription":null,"lastVerifiedAt":"2026-10-18T18:05:03.827Z"}